Retirement in Europe (SHARE), which has detailed data on wealth and portfolio composition of individuals aged 50+ in 11 European …

wealth and investment in health. Financial literacy is also correlated with wealth though it appears to be a weaker predictor …

Frequent shifting of household portfolio composition may erode wealth due to poor market timing and transaction costs …. If household preferences are stable, the optimal wealth maximizing strategy is periodically rebalancing to maintain a … relatively constant ratio of investment assets to wealth from year to year. However, some households may fail to rebalance, or …

rises in wealth in the cross-section of households in the Survey of Consumer Finances. For a given household, the portfolio … share can fall in response to an increase in wealth, even though the model implies decreasing relative risk aversion …

Frequent shifting of household portfolio composition may erode wealth due to poor market timing and transaction costs …. If household preferences are stable, the optimal wealth maximizing strategy is periodically rebalancing to maintain a … relatively constant ratio or investment assets to wealth from year to year. However, some households may fail to rebalance, or …

Data from the Italian Survey of Households Income and Wealth (SHIW) are used to study portfolio allocations change in … response to fluctuations in wealth. In particular I test for the prediction of models with habit formation that changes in … liquid wealth will affect households' risk aversion and risky asset investment. After controlling for the decision to enter …