Gu, Yuanyuan; Arends-Kuenning, Mary - In: Journal of applied economics 25 (2022) 1, pp. 1081-1126
This paper explores how the anticipated expenditure on children's college education affects household asset allocation …, applying a two-stage budgeting model of asset demand by using the 2016 China Family Panel Studies Data (CFPS). The empirical … results show that if a household plans to send a child to college, the probability of holding risky assets increases by 1 …
