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Stockholding: From participation to location and to participation spillovers
Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - Center for Financial Studies - 2009
through retirement accounts only. Household characteristics influence stockholding through retirement accounts conditional on … owning retirement accounts, unlike what happens with stockholding through mutual funds. Although stockholding is more common … among retirement account owners, this fact is mainly due to their characteristics that led them to buy retirement accounts …
Persistent link: https://www.econbiz.de/10010958551
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Stockholding: From Participation to Location and to Participation Spillovers
Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - Center for Financial Studies - 2009
through retirement accounts only. Household characteristics influence stockholding through retirement accounts conditional on … owning retirement accounts, unlike what happens with stockholding through mutual funds. Although stockholding is more common … among retirement account owners, this fact is mainly due to their characteristics that led them to buy retirement accounts …
Persistent link: https://www.econbiz.de/10005007629
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The impact of health insurance on stockholding: A regression discontinuity approach
Christelis, Dimitris; Georgarakos, Dimitris; … - Center for Financial Studies - 2014
Using data from the US Health and Retirement Study, we study the causal effect of increased health insurance coverage …
Persistent link: https://www.econbiz.de/10010986481
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Household economic decisions under the shadow of terrorism
Christelis, Dimitris; Georgarakos, Dimitris - Center for Financial Studies - 2009
We investigate, using the 2002 US Health and Retirement Study, the factors influencing individuals' insecurity and …
Persistent link: https://www.econbiz.de/10010958603
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Investing at home and abroad: Different costs, different people
Christelis, Dimitris; Georgarakos, Dimitris - Center for Financial Studies - 2009
We investigate US households' direct investment in stocks, bonds and liquid accounts and their foreign counterparts, in order to identify the different participation hurdles affecting asset investment domestically and overseas. To this end, we estimate a trivariate probit model with three...
Persistent link: https://www.econbiz.de/10010958746
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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007
We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...
Persistent link: https://www.econbiz.de/10010986371
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A model of mortgage default
Campbell, John Y.; Cocco, João F. - Center for Financial Studies - 2014
This paper solves a dynamic model of households' mortgage decisions incorporating labor income, house price, inflation, and interest rate risk. It uses a zero-profit condition for mortgage lenders to solve for equilibrium mortgage rates given borrower characteristics and optimal decisions. The...
Persistent link: https://www.econbiz.de/10010958614
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Household debt and social interactions
Georgarakos, Dimitris; Haliassos, Michael; Pasini, Giacomo - Center for Financial Studies - 2012
Debt-induced crises, including the subprime, are usually attributed exclusively to supply-side factors. We examine the role of social influences on debt culture, emanating from perceived average income of peers. Utilizing unique information from a household survey representative of the Dutch...
Persistent link: https://www.econbiz.de/10010958772
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Lifecycle impacts of the financial and economic crisis on household optimal consumption, portfolio choice, and labor supply
Chai, Jingjing; Maurer, Raimond H.; Mitchell, Olivia S.; … - Center for Financial Studies - 2011
workers lost a substantial portion of their retirement saving. The financial sector implosion produced an economic crisis for … retirement, and annuitization decisions. We do so with a realistically calibrated lifecycle framework allowing for time …-varying investment opportunities and countercyclical risky labor income dynamics. We show that households near retirement will reduce …
Persistent link: https://www.econbiz.de/10010958546
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Fitting parsimonious household- portfolio models to data
Hubar, Sylwia; Koulovatianos, Christos; Li, Jian - Center for Financial Studies - 2014
US data and new stockholding data from fifteen European countries and China exhibit a common pattern: stockholding shares increase in household income and wealth. Yet, there is a multitude of numbers to match through models. Using a single utility function across households (parsimony), we...
Persistent link: https://www.econbiz.de/10010986432