Showing 1 - 10 of 3,510
future events on households’ financial situation. Households are asked to assess specific risks for their own household … (treatment) or for a household with similar characteristics (control). On average, households assign a lower probability to … shocks that negatively affect personal finances if asked for their own household compared to a similar household. We do not …
Persistent link: https://www.econbiz.de/10014473206
Persistent link: https://www.econbiz.de/10011774776
We use a unique and comprehensive data set on open-end real estate funds in Germany to study a liquidity crisis that hit this industry between 2005 and 2006. Since this industry is comparably unregulated our data set permits us to contrast competing explanations of liquidity crisis. We find that...
Persistent link: https://www.econbiz.de/10003882920
This article analyzes the effect of liquidity risk on the performance of various hedge fund portfolio strategies. Similarly to Avramov et al. (2007), we find that, before accounting for the effect of liquidity risk, hedge fund portfolios that incorporate predictability in managerial skills...
Persistent link: https://www.econbiz.de/10003966170
We investigate risk presentations in retirement savings decisions using a discrete choice experiment where subjects …
Persistent link: https://www.econbiz.de/10013128927
allocating retirement savings within a compulsory defined contribution retirement plan. The paper develops the implications and … retirement savings scheme. The experiment finds overall rates of violation of roughly 25%, and substantial variation in rates …
Persistent link: https://www.econbiz.de/10013128935
We investigate the risk-sharing implications of taxation associated with the option to convert a traditional IRA to Roth IRA. Although the conversion option may create value for savers by potentially reducing their tax burdens, the risk profile of their holdings may change. Delaying payment of...
Persistent link: https://www.econbiz.de/10013087387
savings patterns. Terrorism increases household savings to a significant and economically meaningful degree. Two terror … data of the elderly population from 13 European countries, this study analyzes the impact of terrorism risk on household … of attacks is negative, savings increase with the number of fatalities. We give a potential explanation for this …
Persistent link: https://www.econbiz.de/10012834678
Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that allowing for these rich features of earnings dynamics, in the context of a structurally estimated life-cycle portfolio choice model, helps to rationalize the limited participation...
Persistent link: https://www.econbiz.de/10014278693
explainable by household characteristics as well as differences in risk aversion and a remainder. We employ the unexplained part …
Persistent link: https://www.econbiz.de/10011997521