This study investigates intrahousehold risk preferences in household portfolio decision-making. Most household finance … data are collected at the household level, and it is challenging to come up with an explanation of risk-taking decisions … and have a direction on the within-household bargaining mechanisms. We provide these challenging pieces of evidence by …

called fractional multinomial logit model - which allows for joint estimation of shares while accounting for their fractional … average household's portfolio. These findings largely stay true even after we control for the potential confounding effects of …

We investigate the determinants of a household's decision on whether to invest in risky financial assets. Financial … measure income risk as the observed variation of household income over a five year period. We find that indeed higher income … risk reduces the propensity to invest in stocks. However, when controlling for household heterogeneity as well as …

-structural equations to a large panel data set. While our findings by and large are in agreement with most previous studies, our semi …-structural equations give much more plausible estimation results for saving and investment than conventional specification. -- Demography … ; openness ; saving ; investment ; current account ; panel data …