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Household investors chase stock market returns. Surveys suggest that households intend to "ride the bubble" by buying …
Persistent link: https://www.econbiz.de/10013049679
This paper examines the proposition that fluctuations in discounts on closed end funds are driven by changes in individual investor sentiment toward closed end funds and other securities. The theory implies that discounts on various funds must move together, that new funds get started when...
Persistent link: https://www.econbiz.de/10012756869
correlated in most villages with portfolio-choice estimates. The heterogeneity matters for policy: Although the average household …
Persistent link: https://www.econbiz.de/10013131495
Despite its importance for the analysis of life-cycle behavior, stock ownership by households is poorly understood. Among other approaches to the investigation of this puzzle, recent research has elicited the expectations of stock market returns by individuals. This paper reports findings from a...
Persistent link: https://www.econbiz.de/10013137018
the rest of the economy via high unemployment and reduced labor earnings, which reduced household contributions to Social …
Persistent link: https://www.econbiz.de/10013123696
This paper re-examines the classic question of how a household should optimally allocate its portfolio between risky …
Persistent link: https://www.econbiz.de/10013125573
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 …
Persistent link: https://www.econbiz.de/10013087877
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 …
Persistent link: https://www.econbiz.de/10013075858
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 …
Persistent link: https://www.econbiz.de/10012774907
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 …
Persistent link: https://www.econbiz.de/10012774929