This paper uses a lifecycle model to study household finance in China, focusing on the high savings rate, the low stock … market participation rate and the low share of stocks in wealth. We control for important regime changes in China in the … estimation of structural parameters, and examine their impacts on household finance patterns. Relative to the US, the distinctive …

traders and instead attribute these findings to overconfidence. In contrast, we find that household financial choices …

This paper studies household financial choices in four euro area countries. The goal of the analysis is to understand … household income and asset market returns, has a differential impact on individuals within and across countries. Generally, poor …

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 …, education affects household finance mainly through increased average income. The estimation also finds evidence that higher …

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 …

-convex portfolio adjustment costs. The goal is to understand a household's response to income and return shocks. The model includes the … multiple assets, a household can buffer some income fluctuations through the asset without adjustment costs and engage in …