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This paper is an attempt to answer the long standing question of whether more affluent households save a larger fraction of their income. The major difficulty in empirically assessing the relationship between incomes and saving rates is to construct a credible proxy for long-run income - purged...
Persistent link: https://www.econbiz.de/10010500251
Persistent link: https://www.econbiz.de/10003358839
This paper is an attempt to answer the long standing question of whether more affluent households save a larger fraction of their income. The major difficulty in empirically assessing the relationship between incomes and saving rates is to construct a credible proxy for long-run income - purged...
Persistent link: https://www.econbiz.de/10009741419
Persistent link: https://www.econbiz.de/10011623979
Persistent link: https://www.econbiz.de/10009562892
Persistent link: https://www.econbiz.de/10009384427
It has been argued that rare economic disasters can explain most asset pricing puzzles. If this is the case, perceived risk associated with a disaster in stock markets should be revealed in household portfolios. That is, the framework that solves these pricing puzzles should also generate...
Persistent link: https://www.econbiz.de/10009315701
It has been argued that rare economic disasters can explain most asset pricing puzzles. If this is the case, perceived risk associated with a disaster in stock markets should be revealed in household portfolios. That is, the framework that solves these pricing puzzles should also generate...
Persistent link: https://www.econbiz.de/10011756403
Persistent link: https://www.econbiz.de/10003203465
Persistent link: https://www.econbiz.de/10001833209