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Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth
Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2006
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though … Boomers rely more on housing equity than their predecessors. Most important, planners in both cohorts arrive close to …
Persistent link: https://www.econbiz.de/10010958739
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Baby Boomer Retirement Security: The Roles of Planning, Financial Literacy,and Housing Wealth
Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2006
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though … Boomers rely more on housing equity than their predecessors. Most important, planners in both cohorts arrive close to …
Persistent link: https://www.econbiz.de/10005022447
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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
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Saving rates and portfolio choice with subsistence consumption
Achury, Carolina; Hubar, Sylwia; Koulovatianos, Christos - Center for Financial Studies - 2011
We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining: (i) the higher saving rates of the rich, (ii) the...
Persistent link: https://www.econbiz.de/10010958742
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Stockholding: From participation to location and to participation spillovers
Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - Center for Financial Studies - 2009
This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes, and participation spillovers, using data from the US Survey of Consumer Finances. Our multivariate choice model matches observed participation rates, conditional and...
Persistent link: https://www.econbiz.de/10010958551
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Early life conditions and financial risk-taking in older age
Christelis, Dimitris; Dobrescu, Loretti I.; Motta, Alberto - Center for Financial Studies - 2011
Using life-history survey data from eleven European countries, we investigate whether childhood conditions, such as socioeconomic status, cognitive abilities and health problems influence portfolio choice and risk attitudes later in life. After controlling for the corresponding conditions in...
Persistent link: https://www.econbiz.de/10010958634
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Stockholding: From Participation to Location and to Participation Spillovers
Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - Center for Financial Studies - 2009
This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes, and participation spillovers, using data from the US Survey of Consumer Finances. Our multivariate choice model matches observed participation rates, conditional and...
Persistent link: https://www.econbiz.de/10005007629
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Increasing the effectiveness of financial education in the workplace
Lusardi, Annamaria - Center for Financial Studies - 2008
Persistent link: https://www.econbiz.de/10010958620
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Financial literacy: An essential tool for informed consumer choice?
Lusardi, Annamaria - Center for Financial Studies - 2008
Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This paper demonstrates widespread financial illiteracy...
Persistent link: https://www.econbiz.de/10010958707
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Debt literacy, financial experiences, and overindebtedness
Lusardi, Annamaria; Tufano, Peter - Center for Financial Studies - 2009
We analyze a national sample of Americans with respect to their debt literacy, financial experiences, and their judgments about the extent of their indebtedness. Debt literacy is measured by questions testing knowledge of fundamental concepts related to debt and by selfassessed financial...
Persistent link: https://www.econbiz.de/10010958712