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Financial Windfalls, Portfolio Allocations, and Risk Preferences

Briggs, Joseph S.; Cesarini, David; Lee, Sean Chanwook; … - National Bureau of Economic Research - 2023

We investigate the impact of financial windfalls on household portfolio choices and risk exposure. Exploiting the … both constant and decreasing relative risk aversion and analyze how our empirical estimates help distinguish between …

Persistent link: https://www.econbiz.de/10014436995

Education and Mortality : Evidence from a Social Experiment

Meghir, Costas - 2012

We examine the effects of a major Swedish educational reform, that increased the years of compulsory schooling, on mortality and health. Using the gradual phase-in of the reform between 1949 and 1962 across municipalities, we estimate insignificant effects of the reform on mortality in the...

Persistent link: https://www.econbiz.de/10012460726

Toward an Understanding of the Economics of Prosumers : Evidence from a Natural Field Experiment

List, John A.; Pragidis, Ioannis C.; Price, Michael - National Bureau of Economic Research - 2024

service provider in Sweden to explore the economics facing such agents by conducting a natural field experiment over a 32 …

Persistent link: https://www.econbiz.de/10015056163

The Cross-Section of Household Preferences

Calvet, Laurent E.; Campbell, John Y.; Gomes, Francisco J. - National Bureau of Economic Research - 2021

portfolio shares. We find some heterogeneity in risk aversion (a standard deviation of 0.47 around a mean of 5.24 and median of ….42). Risk aversion and the EIS are almost cross-sectionally uncorrelated, in contrast with the strong negative correlation that … we would find if households had power utility with heterogeneous risk aversion. The TPR is weakly negatively correlated …

Persistent link: https://www.econbiz.de/10012533337

Fight or Flight? Portfolio Rebalancing by Individual Investors

Calvet, Laurent E. - 2008

This paper investigates the dynamics of individual portfolios in a unique dataset containing the disaggregated wealth of all households in Sweden. Between 1999 and 2002, we observe little aggregate rebalancing in the financial portfolio of participants. These patterns conceal strong...

Persistent link: https://www.econbiz.de/10012464470

Down or Out : Assessing the Welfare Costs of Household Investment Mistakes

Calvet, Laurent E. - 2006

This paper investigates the efficiency of household investment decisions in a unique dataset containing the …

Persistent link: https://www.econbiz.de/10012466639

Portfolio Diversification and City Agglomeration

Goetzmann, William N. - 2004

-tradable risk. We find little evidence to support social and hedging motives to explain the lack of portfolio diversification, and …

Persistent link: https://www.econbiz.de/10012468350

Learning to Take Risks? The Effect of Education on Risk-Taking in Financial Markets

Black, Sandra E. - 2015

We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial …

Persistent link: https://www.econbiz.de/10012457624

Climate Polarization and Green Investment

Anderson, Anders; Robinson, David T. - National Bureau of Economic Research - 2024

about climate change affects investment decisions. After the intense heat wave of 2018, respondents in regions dominated by …

Persistent link: https://www.econbiz.de/10014486223

Non-Keynesian Effects of Fiscal Policy Changes : International Evidence and the Swedish Experience

Giavazzi, Francesco - 1995

In earlier work we documented two episodes in which a sharp fiscal consolidation was associated with a very large expansions in private domestic demand. In this paper we draw on further evidence to investigate if and when fiscal policy changes can have such non-Keynesian effects. In the first...

Persistent link: https://www.econbiz.de/10012473537