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Investor Sentiment and the Closed-End Fund Puzzle
Lee, Charles - 2011
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
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Demographic Patterns and Household Saving in China
Curtis, Chadwick - 2011
This paper studies the effect that changing demographic patterns have had on the household saving rate in China. We …'s utility enter into parent's utility where parents choose the consumption level of the young until they leave the household … the household saving rate …
Persistent link: https://www.econbiz.de/10013129127
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Why are Saving Rates so High in China?
Yang, Dennis Tao - 2011
-2008. Using data from the Flow of Funds Accounts (FFA) and Urban Household Surveys (UHS) supplemented by the findings from … household sectors. Although the causes of China's high saving are complex, we suggest that the evolving economic, demographic …
Persistent link: https://www.econbiz.de/10013130270
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Heterogeneity and Risk Sharing in Village Economies
Chiappori, Pierre-Andre - 2011
correlated in most villages with portfolio-choice estimates. The heterogeneity matters for policy: Although the average household …
Persistent link: https://www.econbiz.de/10013131495
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Household Stock Market Beliefs and Learning
Kezdi, Gabor - 2011
imply. Our results also suggest that a substantial part of the reduced form relationship between stock holding and household …
Persistent link: https://www.econbiz.de/10013118132
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The Determinants and Long-Term Projections of Saving Rates in Developing Asia
Horioka, Charles Yuji - 2011
In this paper, we present data on trends over time in domestic saving rates in twelve economies in developing Asia during the 1966-2007 period and analyze the determinants of these trends. We find that domestic saving rates in developing Asia have, in general, been high and rising but that there...
Persistent link: https://www.econbiz.de/10013118468
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Financial Literacy, Retirement Planning, and Household Wealth
van Rooij, Maarten - 2011
personal assets. In this paper, we investigate the relationship between financial literacy and household net worth, relying on … comprehensive measures of financial knowledge designed for a special module of the Dutch Central Bank Household Survey (DHS). Our … strong link to household wealth …
Persistent link: https://www.econbiz.de/10013121050
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Lifecycle Impacts of the Financial and Economic Crisis on Household Optimal Consumption, Portfolio Choice, and Labor Supply
Chai, Jingjing - 2011
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
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Financial Literacy, Retirement Preparation and Pension Expectations in the Netherlands
Alessie, Rob J. M. - 2011
We present new evidence on financial literacy and retirement preparation in the Netherlands based on two surveys conducted before and after the onset of the financial crisis. We document that while financial knowledge did not increase from 2005 to 2010, significantly more individuals planned for...
Persistent link: https://www.econbiz.de/10013124236
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Optimal Portfolio Choice with Wage-Indexed Social Security
Li, Jialun - 2011
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