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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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The role of labor-income risk in household risk-taking?
Hubar, Sylwia; Koulovatianos, Christos; Li, Jian - 2020
In fifteen European countries, China, and the US, stocks and business equity as a share of total household assets are represented by an increasing and convex function of income/wealth. A parsimonious model fitted to the data shows why background labor-income risk can explain much of this...
Persistent link: https://www.econbiz.de/10012254821
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Fitting parsimonious household- portfolio models to data
Hubar, Sylwia; Koulovatianos, Christos; Li, Jian - 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/10010426998
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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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Financial literacy and suboptimal financial decisions at older ages
Fong, Joelle H.; Koh, Benedict SK.; Mitchell, Olivia S.; … - 2019
financial and investment behaviors: credit card debt repayment, stock market participation, and adherence to age …-based investment glide paths. We found that the majority of respondents age 50+ has some grasp of concepts such as interest compounding ….3 percentage point greater propensity to hold stocks, and a 1.7 percentage point higher likelihood of following an age …
Persistent link: https://www.econbiz.de/10012113998
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Simplifying choices in defined contribution retirement plan design: A case study
Mitchell, Olivia S.; Keim, Donald B. - 2017
The growth and popularity of defined contribution pensions, along with the government's increasing attention to retirement plan costs and investment choices provided, make it important to understand how people select their retirement plan investments. This paper shows how employees in a large...
Persistent link: https://www.econbiz.de/10011729741
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Differences in euro-area household finances and their relevance for monetary-policy transmission
Hintermaier, Thomas; Koeniger, Winfried - 2019
substantially across countries, and within countries by household characteristics such as age, housing tenure, and asset positions …
Persistent link: https://www.econbiz.de/10012142941
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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