population aging over the period 2000–14. While there is little doubt that household savings have decreased, the true trend … of risky assets in household portfolios increases with age and barely decreases even for retired households. The main … sources of increasing household wealth are the increasing wealth of the elderly and the increasing proportion of the wealthier …

Korea relative to the United States. Our comparative analysis, using macro-level and harmonized longitudinal household … individual management of risky financial portfolios. We find that educational and health attainments of household heads and … household wealth lead to a greater tendency to hold and manage risky assets. Our decomposition analysis also shows that the gap …