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The Determinants of China's International Portfolio Equity Allocations

Agarwal, Isha - 2020

We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...

Persistent link: https://www.econbiz.de/10012840445

Debt Portfolios

Hintermaier, Thomas - 2011

We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the calibrated model matches important quantitative...

Persistent link: https://www.econbiz.de/10013126139

Portfolio Allocation, Income Uncertainty and Households' Flight from Risk

Brown, Sarah - 2016

households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach – termed a … risk, and is unique in recovering for, any given risky asset class, the shares that are reallocated to a safer asset … category. Background risk exerts a significant impact on household portfolios, resulting in a 'flight from risk', away from …

Persistent link: https://www.econbiz.de/10012977335

Household Portfolio Choice, Reference Dependence, and the Marriage Market

Li, Wenchao - 2017

This paper bridges the financial market and the marriage market using a reference-dependent mechanism. Male-biased sex ratios induce families with sons to hold more risky assets, since competitive marital payment in a tight market raises the reference level of marriage expenditure for such...

Persistent link: https://www.econbiz.de/10012963843

Portfolio Allocation in the Face of a Means-Tested Public Pension

Cobb-Clark, Deborah A. - 2011

Is there evidence that households adjust their asset portfolios just prior to retirement in response to a means-tested public pension? We address this question by estimating a system of asset equations constrained to add up to net worth. We find little evidence that in 2006 healthy households or...

Persistent link: https://www.econbiz.de/10013134282

Trust and the Choice between Housing and Financial Assets : Evidence from Spanish Households

El-Attar, Mayssun - 2010

Trusting behavior has been shown to affect households' portfolio choice between risky and risk-free financial assets …

Persistent link: https://www.econbiz.de/10013136779

League-Table Incentives and Price Bubbles in Experimental Asset Markets

Cheung, Stephen L. - 2011

We study experimental markets in which participants face incentives modeled upon those prevailing in markets for managed funds. Each participant's portfolio is periodically evaluated at market value and ranked in a league table according to short-term paper returns. Those who rank highly attract...

Persistent link: https://www.econbiz.de/10013124787

Remittances and Portfolio Values : An Inquiry Using Spanish Immigrants from Africa, Europe and the Americas

Amuedo Dorantes, Catalina - 2012

Using a recent Spanish database, we show that remittances respond to cross country differences in portfolio values. This behavior suggests that immigrants are sophisticated economic optimizers who take advantage of opportunities to invest trans-nationally given the networks that immigrants are...

Persistent link: https://www.econbiz.de/10013104946

Household Asset Holding Diversification in Australia

Mariotti, Francesco - 2014

We explore asset holding diversification by Australian households, in particular, the household asset diversification participation decision (whether or not to diversify at all) is jointly estimated with the decision of how much to diversify. In so doing, recent literature on the modelling of...

Persistent link: https://www.econbiz.de/10013051019

To Own or Not to Own? Household Portfolios, Demographics and Institutions in a Cross-National Perspective

Sierminska, Eva - 2014

Using harmonized wealth data and a novel decomposition approach, we show that cohort effects exist in the income profiles of asset and debt portfolios for a sample of European countries, the U.S. and Canada. We find that younger households' participation decisions in assets are more responsive...

Persistent link: https://www.econbiz.de/10013061937