correlated in most villages with portfolio-choice estimates. The heterogeneity matters for policy: Although the average household …

the rest of the economy via high unemployment and reduced labor earnings, which reduced household contributions to Social …

This paper re-examines the classic question of how a household should optimally allocate its portfolio between risky …

We test the relation between ambiguity aversion and five household portfolio choice puzzles: non- participation, low ….S. household survey, we measure ambiguity aversion using custom- designed questions based on Ellsberg urns. As theory predicts …

This paper studies household financial choices: why are these decisions dependent on the education level of the … household? A life cycle model is constructed to understand a rich set of facts about decisions of households with different …

constraint') on the household's optimal holdings of financial assets. Since the ratio of housing to net worth declines as the … household accumulates wealth, the housing constraint induces a life-cycle pattern in the portfolio shares of stocks and bonds … to construct household level panel data on the real after-tax return to owner-occupied housing, as well as data on the …

household wealth accumulation is not supported by the data. Institutional factors, asset liquidity, and evolving investor tastes … must be recognized in modeling asset demand. These factors could affect analyses of overall household saving as well as the …