Showing 1 - 9 of 9
Persistent link: https://www.econbiz.de/10012033716
We characterize the optimal default fund in a defined contribution (DC) pension plan. Using detailed data on individuals' holdings inside and outside the pension system, we find substantial heterogeneity within and between passive and active investors in terms of labor income, financial wealth,...
Persistent link: https://www.econbiz.de/10012970347
Recent evidence suggests that there is genetic basis for economic behaviors, including preferences for risk taking. We correlate variation in risk taking and behavioral biases with two genetic polymorphisms related to the uptake of dopamine and serotonin (7R DRD4 and s/s 5-HTTLPR), hypothesizing...
Persistent link: https://www.econbiz.de/10013023838
Persistent link: https://www.econbiz.de/10011437535
Persistent link: https://www.econbiz.de/10011692415
Actively managed Swedish equity mutual funds outperform the market in 1993-2001 but have negative gross and net excess returns of -0.18 and -1.47 per cent per year in 2002-2013. Across funds, there is no correlation between activism and return in the later period. Returns show little or no...
Persistent link: https://www.econbiz.de/10011743140
We characterize the optimal default fund in a defined contribution (DC) pension plan. Using detailed data on individuals and their holdings inside and outside the pension system, we find substantial heterogeneity among default investors in terms of labor income, financial wealth, and stock...
Persistent link: https://www.econbiz.de/10013001933
Home owners are about twice as likely as renters to participate in the stock market, both in the USA and Sweden. This paper sets up a life-cycle portfolio choice model which generates this pattern of limited stock market participation. Calibrated to Swedish data, the model generates the stock...
Persistent link: https://www.econbiz.de/10012975201
The stock market participation rate among homeowners is twice as high as among renters. This paper builds a life-cycle portfolio choice model with endogenous housing tenure choice. A stylized form of preference heterogeneity generates a substantial difference in participation rates. A majority...
Persistent link: https://www.econbiz.de/10012940650