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Human Capital and Household Portfolio Choice : The Importance of the Persistence of Labor Income Shocks
Shim, Kyung Hwan - 2015
Using longitudinal data from PSID, we show the positive relation between labor income and the equity share of financial …
Persistent link: https://www.econbiz.de/10013024082
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Non-standard preferences in asset pricing and household finance
Goossens, Jorgo - 2023
Persistent link: https://www.econbiz.de/10013549809
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The economics of dual job holding : a job portfolio model of labor supply
Renna, Francesco (contributor);  … - 2006
In this paper we develop a job portfolio model of dual job holding based on a Stone-Geary utility function. We derive the associated Slutsky equation components. Because the job portfolio model applies only to unconstrained dual jobholders, we separate individuals who moonlight because of an...
Persistent link: https://www.econbiz.de/10003253454
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The Economics of Dual Job Holding : A Job Portfolio Model of Labor Supply
Renna, Francesco - 2006
In this paper we develop a job portfolio model of dual job holding based on a Stone-Geary utility function. We derive the associated Slutsky equation components. Because the job portfolio model applies only to unconstrained dual jobholders, we separate individuals who moonlight because of an...
Persistent link: https://www.econbiz.de/10012783284
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Wage risk and portfolio choice : the role of correlated returns
König, Johannes; Longmuir, Maximilian - 2021
From standard portfolio-choice theory it is well-understood that background risk, overwhelmingly due to wage risk, is … the residual variance of wages by one standard deviation implies a reduction of the financial portfolio share by 3 …
Persistent link: https://www.econbiz.de/10012623685
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Family Portfolio Choice over the Life Cycle
Inkmann, Joachim; Michaelides, Alexander; Zhang, Yuxin - 2022
Intra-household heterogeneity can quantitatively affect the predictions of life-cycle portfolio choice models … treating double-income households as one unit. Intra-household heterogeneity in preference parameters like risk aversion and …
Persistent link: https://www.econbiz.de/10013313837
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Labor income risk and households' risky asset holdings
Becker, Gideon; Dimpfl, Thomas - In: Studies in economics and finance 33 (2016) 2, pp. 262-280
Persistent link: https://www.econbiz.de/10011719146
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Optimal stopping time, consumption, labour, and portfolio decision for a pension scheme
Menoncin, Francesco; Vergalli, Sergio - 2019
In this work we solve in a closed form the problem of an agent who wants to optimise the inter-temporal utility of both his consumption and leisure by choosing: (i) the optimal inter-temporal consumption, (ii) the optimal inter-temporal labour supply, (iii) the optimal share of wealth to invest...
Persistent link: https://www.econbiz.de/10012006564
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Consuming dividends
Bräuer, Konstantin; Hackethal, Andreas; Hanspal, Tobin - 2020 - Current version: May 2020
This paper studies why investors buy dividend-paying assets and how they time their consumption accordingly. We combine administrative bank data linking customers' consumption transactions and income to detailed portfolio data and survey responses on financial behavior. We find that private...
Persistent link: https://www.econbiz.de/10012223798
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Risk Aversion Among Australian Households
Breunig, Robert - 2019
This paper explores risk aversion among Australian households using panel data from the Household Income and Labour … Dynamics in Australia (HILDA) survey. Using households' share of risky assets, we test whether relative risk aversion is … degree of risk aversion for the typical Australian household, with values ranging from 1.2 to 1.4. These findings can provide …
Persistent link: https://www.econbiz.de/10012889992