Similar Search Results

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

Increasing the effectiveness of financial education in the workplace

Lusardi, Annamaria - Center for Financial Studies - 2008

Persistent link: https://www.econbiz.de/10010958620

Financial literacy: An essential tool for informed consumer choice?

Lusardi, Annamaria - Center for Financial Studies - 2008

. Financial literacy impacts financial decision-making. Failure to plan for retirement, lack of participation in the stock market …

Persistent link: https://www.econbiz.de/10010958707

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

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

Precautionary saving and the marginal propensity to consume out of permanent income

Carroll, Christopher D. - Center for Financial Studies - 2009

The budget constraint requires that, eventually, consumption must adjust fully to any permanent shock to income. Intuition suggests that, knowing this, optimizing agents will fully adjust their spending immediately upon experiencing a permanent shock. However, this paper shows that if consumers...

Persistent link: https://www.econbiz.de/10010958808

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

Money in motion: Dynamic portfolio choice in retirement

Horneff, Wolfram J.; Maurer, Raimond H.; Mitchell, Olivia S. - Center for Financial Studies - 2007

Retirees confront the difficult problem of how to manage their money in retirement so as to not outlive their funds … allocation decisions when managing her retirement financial wealth and annuities, and we prove that she can benefit from both the … equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …

Persistent link: https://www.econbiz.de/10010958527

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

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