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Efficient probit estimation with partially missing covariates
Conniffe, Denis; O'Neill, Donal - 2009
A common approach to dealing with missing data is to estimate the model on the common subset of data, by necessity throwing away potentially useful data. We derive a new probit type estimator for models with missing covariate data where the dependent variable is binary. For the benchmark case of...
Persistent link: https://www.econbiz.de/10010269313
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Household finances and the "Big Five" personality traits
Brown, Sarah; Taylor, Karl - 2011
We explore the relationship between household finances and personality traits from an empirical perspective. Specifically, using individual level data drawn from the British Household Panel Survey, we analyse the influence of personality traits on financial decision-making at the individual...
Persistent link: https://www.econbiz.de/10010282544
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Exponent of cross-sectional dependence: Estimation and inference
Bailey, Natalia; Kapetanios, George; Pesaran, Hashem - 2012
An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...
Persistent link: https://www.econbiz.de/10010282124
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A Structural Empirical Model of Firm Growth, Learning, and Survival
Abbring, Jaap H.; Campbell, Jeffrey R. - 2003
We present a structural model of firm growth, learning, and survival and consider its identification and estimation. In …
Persistent link: https://www.econbiz.de/10010262756
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Do women manage smaller funds?
Hübler, Olaf; Menkhoff, Lukas - 2010
Based on a sample of 467 asset managers from four countries we robustly find that women manage smaller funds than men …, despite tough competition in this industry. Interestingly, the gender gap exists only for managers of smaller funds, i.e. at … area of smaller funds or to visibility among top asset managers protecting against unequal treatment of the sexes. …
Persistent link: https://www.econbiz.de/10010269574
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The Saving Behaviour of Two Person Households: Evidence from Dutch Panel Data
Euwals, Rob; Börsch-Supan, Axel; Eymann, Angelika - 2000
As wives generally are younger than their husbands, and as they also have a higher life expectancy, wives generally have larger incentives to save for old age than their husbands. This paper analyses the household members? attitudes towards saving for old age, and the relation with the household...
Persistent link: https://www.econbiz.de/10010262446
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Wealth and asset holdings of immigrants in Germany
Sinning, Mathias - 2007
This paper examines the relative wealth position and the portfolio choices of immigrants in Germany. The empirical findings reveal significant differences in overall wealth and various wealth components between German natives and immigrants. Differences in real estate constitute the major part...
Persistent link: https://www.econbiz.de/10010268158
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Flexible approximation of subjective expectations using probability questions: an application to the investment game
Bellemare, Charles; Bissonnette, Luc; Kröger, Sabine - 2007
We use spline interpolation to approximate the subjective cumulative distribution function of an economic agent over the future realization of a continuous (possibly censored) random variable. The method proposed exploits information collected using a small number of probability questions on...
Persistent link: https://www.econbiz.de/10010268457
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Marriage and other risky assets: a portfolio approach
Bertocchi, Graziella; Brunetti, Marianna; Torricelli, … - 2009
We study the joint impact of gender and marital status on financial decisions. First, we test the hypothesis that marriage represents - in a portfolio framework - a sort of safe asset, and that this effect is stronger for women. Controlling for a number of observable characteristics, we show...
Persistent link: https://www.econbiz.de/10010268972
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The growth of participant direction in defined contribution plans
Even, William E.; Macpherson, David A. - 2009
Since 1990, most pension plans have shifted the responsibility for directing pension assets to the employee. This study summarizes some of the possible explanations for this rapid shift toward participant direction and uses IRS Form 5500 data to investigate the effect of worker and plan...
Persistent link: https://www.econbiz.de/10010269133