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Private pension provision faces the challenging task of providing stable income streams during retirement. The challenge has increased markedly in the last decades due to volatile financial markets, falling interest rates and the withdrawal of employers and external insurers as risk bearers of...
Persistent link: https://www.econbiz.de/10011252616
offered financial education. Both programs included a voluntary after-school savings club that provided students with a locked … money box. After nine months, both programs had significant impacts on savings behavior relative to the control group …, mostly because children moved savings from home to school. We observed few other impacts. We do find that financial education …
Persistent link: https://www.econbiz.de/10011249377
When entering retirement most people face the decision whether they would like their defined contribution account balance paid as a lump sum or to annuitize the amount. The fact that people tend to choose the lump sum even if economic reasons suggest not to is called the annuity puzzle. In a...
Persistent link: https://www.econbiz.de/10011165648
Chetty and Szeidl (2012) propose to estimate the effect of housing on portfolio choice by distinguishing between the effect of mortgage debt and the effect of home equity and by endogenizing these two variables. When replicating their study with French data, we obtain similar qualitative...
Persistent link: https://www.econbiz.de/10011083391
We study the life cycle of portfolio allocation following for 15 years a large random sample of Norwegian households using error-free data on all components of households’ investments drawn from the Tax Registry. Both, participation in the stock market and the portfolio share in stocks, have...
Persistent link: https://www.econbiz.de/10011084665
two waves of the Spanish household finance survey (EFF). I estimate discrete hazard models using retrospective and within …-period purchase sequences. I also estimate an (S,s) model combining transactions data with longitudinal information on household …
Persistent link: https://www.econbiz.de/10008784726
We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people are more likely to invest in the stock market....
Persistent link: https://www.econbiz.de/10011249373
Individuals and business owners engage in an increasingly complex array of financial decisions that are critical for their success and well-being. Yet a growing literature documents that in both developed and developing countries, a large fraction of the population is unprepared to make these...
Persistent link: https://www.econbiz.de/10008611017
We merge survey data on a sample of individual investors containing test-based measures of financial literacy with administrative records on their assets holding and trades before, during and after the financial crisis of September 2008. This dataset allows us to design three tests of the...
Persistent link: https://www.econbiz.de/10011083388
create a unique dataset by matching information on individual savings accounts from the DNB Household Survey with market data …Savings accounts are owned by most households, but little is known about the performance of households’ investments. We …
Persistent link: https://www.econbiz.de/10011083539