Narrow search
Showing 1 - 10 of 1,670
Cover Image
Human Capital Risk, Contract Enforcement, and the Macroeconomy
Krebs, Tom - 2011
least insured. We document this risk-insurance pattern in data on life-insurance drawn from the Survey of Consumer Finance …. A calibrated version of the model can quantitatively account for the life-cycle variation of insurance observed in the … US data and implies welfare costs of under-insurance for young households that are equivalent to a 4 percent reduction in …
Persistent link: https://www.econbiz.de/10012460943
Cover Image
Insuring Consumption Using Income-Linked Assets
Fuster, Andreas - 2010
Shiller (2003) and others have argued for the creation of financial instruments that allow individuals to insure risks associated with their lifetime labor income. In this paper, we argue that while the purpose of such assets is to smooth consumption across states of nature, one must also...
Persistent link: https://www.econbiz.de/10012462822
Cover Image
Pension Fund Investment Policy
Bodie, Zvi - 1988
towards the least tax-advantaged securities such as corporate bonds. For defined benefit plans the practitioner literature … seems to advocate immunization strategies to hedge benefits owed to retired employees and portfolio insurance strategies to …
Persistent link: https://www.econbiz.de/10012476308
Cover Image
Dollar Asset Holdings and Hedging Around the Globe
Du, Wenxin; Huber, Amy W. - National Bureau of Economic Research - 2024
We analyze a large number of industry- and company-level filings of global institutional investors to provide the first comprehensive estimate of foreign investors' U.S. dollar (USD) security holdings and currency hedging practices. We document four stylized facts. First, driven by increasing...
Persistent link: https://www.econbiz.de/10014544731
Cover Image
Household Saving Behavior : The Role of Financial Literacy, Information, and Financial Education Programs
Lusardi, Annamaria - 2008
Individuals are increasingly in charge of their own financial security after retirement. But how well-equipped are individuals to make saving decisions; do they possess adequate financial literacy, are they informed about the most important components of saving plans, do they even plan for...
Persistent link: https://www.econbiz.de/10012464823
Cover Image
Household Stock Market Beliefs and Learning
Kézdi, Gábor - 2011
imply. Our results also suggest that a substantial part of the reduced form relationship between stock holding and household …
Persistent link: https://www.econbiz.de/10012461043
Cover Image
Investor Behavior and the Purchase of Company Stock in 401(k) Plans - The Importance of Plan Design
Liang, Nellie - 2002
Using panel data for nearly 1,000 companies during 1991 to 2000, this paper documents that the average share of participant's discretionary 401(k) contributions in company stock was almost 20 percent, and then relates this share to plan design features and firm financial characteristics. We find...
Persistent link: https://www.econbiz.de/10012469580
Cover Image
Household Portfolios and Retirement Saving over the Life Cycle
Parker, Jonathan A.; Schoar, Antoinette; Cole, Allison T.; … - National Bureau of Economic Research - 2022
This paper documents the share of investable wealth that middle-class U.S. investors hold in the stock market over their working lives. This share rises modestly early in life and falls significantly as people approach retirement. Prior to 2000, the average investor held less of their investable...
Persistent link: https://www.econbiz.de/10013172180
Cover Image
Social Security and Household Portfolio Allocation
Hubbard, R. Glenn - 1984
The entitlement to social security retirement benefits is a major component of aggregate household wealth. This paper … focuses on the impact of social security annuities on household portfolio allocation, extending existing optimizing models of …
Persistent link: https://www.econbiz.de/10012477729
Cover Image
Rationalizing Trading Frequency and Returns : Maybe Trading is Good for You
Bonaparte, Yosef - 2019
traders and instead attribute these findings to overconfidence. In contrast, we find that household financial choices …
Persistent link: https://www.econbiz.de/10012479787