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Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth
Lusardi, Annamaria; Mitchell, Olivia S. - 2006
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though … Boomers rely more on housing equity than their predecessors. Most important, planners in both cohorts arrive close to …
Persistent link: https://www.econbiz.de/10010298334
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How much do means-tested benefits reduce the demand for annuities?
Bütler, Monika; Peijnenburg, Kim; Staubli, Stefan - 2013
subsistence level consumption floor in old age, usually in the form of means-tested benefits. The availability of such means …
Persistent link: https://www.econbiz.de/10011345857
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Asset Market Participation and Portfolio Choice Over the Life-Cycle
Fagereng, Andreas - 2018
double adjustment as households age: a rebalancing of the portfolio composition away from stocks as they approach retirement …
Persistent link: https://www.econbiz.de/10012936342
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Life-Cycle Asset Allocation with Ambiguity Aversion and Learning
Peijnenburg, Kim - 2016
Ambiguity and learning about the equity premium can simultaneously explain the low fraction of financial wealth allocated to stocks over the life cycle and the stock market participation puzzle. Individuals are ambiguous about the size of the equity premium and are averse to this ambiguity,...
Persistent link: https://www.econbiz.de/10013008689
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Saving rates and portfolio choice with subsistence consumption
Achury, Carolina; Hubar, Sylwia; Koulovatianos, Christos - 2011
We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining: (i) the higher saving rates of the rich, (ii) the...
Persistent link: https://www.econbiz.de/10010308579
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Saving rates and portfolio choice with subsistence consumption
Achury, Carolina; Hubar, Sylwia; Koulovatianos, Christos - 2011
We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining: (i) the higher saving rates of the rich, (ii) the...
Persistent link: https://www.econbiz.de/10008856389
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False Confidence, Stock Market Participation, and Wealth Accumulation of Households : An Examination
Chatterjee, Swarn - 2015
This paper investigates whether false confidence, as characterized by a high level of personal mastery and a low level of intelligence (IQ), results in frequent investor trading and subsequent investor wealth erosion across time. Using the National Longitudinal Survey (NLSY79), change in wealth...
Persistent link: https://www.econbiz.de/10013027944
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Long‐term government debt and household portfolio composition
Tischbirek, Andreas - In: Quantitative economics : QE ; journal of the … 10 (2019) 3, pp. 1109-1151
Formal dynamic analyses of household portfolio choice in the literature focus on holdings of equity and a risk-free asset or bonds of different maturities, neglecting the interdependence of the decisions to invest in equity, short-term and longterm bonds made by households. Data from the Survey...
Persistent link: https://www.econbiz.de/10012049362
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Stockholding: From participation to location and to participation spillovers
Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - 2009
This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes, and participation spillovers, using data from the US Survey of Consumer Finances. Our multivariate choice model matches observed participation rates, conditional and...
Persistent link: https://www.econbiz.de/10010303708
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Early life conditions and financial risk-taking in older age
Christelis, Dimitris; Dobrescu, Loretti I.; Motta, Alberto - 2011
Using life-history survey data from eleven European countries, we investigate whether childhood conditions, such as socioeconomic status, cognitive abilities and health problems influence portfolio choice and risk attitudes later in life. After controlling for the corresponding conditions in...
Persistent link: https://www.econbiz.de/10010308548