Showing 1 - 10 of 937
This study examines household portfolio choice through the retirement transition. I show that couples significantly decrease their stock allocations after retirement, whereas singles' allocations remain relatively unchanged. Reallocations are concentrated among couples in which the wife is more...
Persistent link: https://www.econbiz.de/10013006993
The purpose of this paper is to list and rank household and personal finance journals by utilizing an adapted version of Chen and Huang's (2007) Author Affiliation Index (AAI) methodology. The use of this objective method overcomes many of the objections applied to earlier attempts at ranking...
Persistent link: https://www.econbiz.de/10013027409
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
We develop a pair of risk measures, health and mortality delta, for the universe of life and health insurance products. A life-cycle model of insurance choice simplifies to replicating the optimal health and mortality delta through a portfolio of insurance products. We estimate the model to...
Persistent link: https://www.econbiz.de/10013038429
A life-cycle savings model was tested to analyze consumption patterns of elderly U.S. households, using the 1990 and 1991 BLS Interview Survey of Consumer Expenditures. The model implies substantial, planned decreases in consumption after retirement, regardless of income patterns. The empirical...
Persistent link: https://www.econbiz.de/10012986420
1. This research examines the potential impact of the stock market crash of 2008-2009 on U.S. working households. The Great Recession caused financial problems for many households in terms of unemployment, business losses, and decreases in real estate values, but the broadly based decreases in...
Persistent link: https://www.econbiz.de/10012903701
The paper constructs a model of optimal portfolio allocation that focuses on the role of housing as collateral, allows for house price risk, and assumes that altering the quantity of housing incurs an adjustment cost. Because of the adjustment cost, the current house value becomes a state...
Persistent link: https://www.econbiz.de/10013133094
Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that, in the context of a structurally estimated life-cycle portfolio choice model, allowing for these rich features of earnings dynamics helps to better understand the limited...
Persistent link: https://www.econbiz.de/10014236105
This paper estimates the cross-sectional distribution of Epstein-Zin preference parameters in a Large administrative panel of Swedish households. We consider a life-cycle model of saving and portfolio choice that incorporates risky labor income, safe and risky financial assets inside and outside...
Persistent link: https://www.econbiz.de/10013230231
We study how and to what extent private households are affected by the recent financial crisis and how their financial decisions are inuenced by this shock. Our analysis reveals that individuals with low levels of financial literacy are less likely to have invested in the stock market and thus...
Persistent link: https://www.econbiz.de/10008902398