Essays In Household Investment Behavior
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Essays In Household Investment Behavior
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Author : Maximilian Köstner
language : en
Publisher:
Release Date : 2012
Essays In Household Investment Behavior written by Maximilian Köstner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Essays On German Household Portfolios And The Investment Behavior Of Individual Investors
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Author : Tilman Rochow
language : en
Publisher:
Release Date : 2014
Essays On German Household Portfolios And The Investment Behavior Of Individual Investors written by Tilman Rochow and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Three Essays In Household Finance
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Author : Andreas Fagereng
language : en
Publisher:
Release Date : 2012
Three Essays In Household Finance written by Andreas Fagereng and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Families categories.
This thesis contains three chapters relating to the field of household finance. In the first chapter household life cycle investment behaviour is investigated using a panel of Norwegian administrative data and tax records. Dealing with selection and identification issues, the data suggests a double adjustment as people age: a rebalancing of the portfolio away from stocks as households approach retirement, and a peak in stock market participation around the time when they reach retirement. A theoretical model predicting these life cycle patterns of investment behavior is then provided. This is achieved by extending existing models with a per period participation cost in risky asset markets and a small perceived probability of being cheated. In the second chapter the relation between household financial asset holdings and unemployment is investigated. Consistent with a simple theoretical model, the data shows increased savings and a shift towards safer assets in the years leading up to unemployment, and depletion of savings during unemployment. This suggests that at least some households can foresee and prepare for upcoming unemployment, which indicates that private savings can complement publicly provided unemployment insurance. The final chapter identifies the causal effect of lump-sum severance payments on non-employment duration in Norway by exploiting a discontinuity in eligibility at age 50. A severance payment worth 1.2 months' earnings lowers the fraction re-employed after one year by six percentage points. This effect is decreasing in wealth, which supports the view that the effect of severance pay should be interpreted as evidence of liquidity constraints. Finding liquidity constraints in Norway, despite its equitable wealth distribution and generous welfare state, suggests they are likely to exist also in other countries.
An Essay On Household Investment
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Author : Michael Wiseman
language : en
Publisher:
Release Date : 1972
An Essay On Household Investment written by Michael Wiseman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1972 with Durable goods, Consumer categories.
Essays On Household Investment In Children
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Author : Daniel Andrew Schmierer
language : en
Publisher:
Release Date : 2011
Essays On Household Investment In Children written by Daniel Andrew Schmierer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
This dissertation is comprised of two essays examining aspects of the household that affect the level of resources devoted to children: family structure and bargaining power between spouses. In the first essay, I focus on the relationship between divorce and home investment in children, and in particular how the behavior of parents during marriage is affected by the prospect of divorce. In the second essay, I examine the impact that bargaining power between spouses, as driven by the marriage market sex ratio, has on home investment in children and the children's educational attainment.
Essays On Household Finance And Individual Investor Behaviour
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Author : Annie Claire Zhang
language : en
Publisher:
Release Date : 2014
Essays On Household Finance And Individual Investor Behaviour written by Annie Claire Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Individual investors categories.
Saving And The Accumulation Of Wealth
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Author : Albert Ando
language : en
Publisher: Cambridge University Press
Release Date : 1994-03-25
Saving And The Accumulation Of Wealth written by Albert Ando and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-03-25 with Business & Economics categories.
Taking Italy as their field of research, the contributors conduct a coherent analysis of households' saving behaviour.
Essays On Learning And Investor Behavior
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Author : Juhani Linnainmaa
language : en
Publisher:
Release Date : 2006
Essays On Learning And Investor Behavior written by Juhani Linnainmaa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Day trading (Securities) categories.
Three Essays In Behavioral Finance
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Author : Michael Young
language : en
Publisher:
Release Date : 2018
Three Essays In Behavioral Finance written by Michael Young and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Over the last two decades, there has been a significant increase in research related to behavioral finance. As Barberis and Thaler (2002) point out, there are two main aspect of behavioral finance: limits to arbitrage and the effects of psychology. My dissertation will focus on the second aspect, the effects of psychology on individual investor behavior. The first essay examines an important question in this behavioral finance literature: changes in aggregate risk aversion. I use changes in the level of terrorism in the United States as a shock to the aggregate mood of American investors, and examine changes in flows to mutual funds as a proxy for investor risk preferences. After examining investors vulnerable to changes in mood after attacks, and ruling out any possible effect due to changes in expect risk, and changes to expected returns, the first essay concludes that mood driven risk aversion is the likely cause of the change in behavior. In the second essay, we use the insights gained from Essay 1 regarding the change in behavior of U.S. investors following an increase in terrorist attacks. Using household level of equity market participation and individual trading data the second essay examines the array of decisions investors make. The second essay finds that households participate less in equity markets, trade less, but purchase more local stocks in response to terrorist attacks. Additionally, this change in behavior is especially apparent in households where the designated head is a male. Finally, in the third essay we turn away from terrorism, and examine the effects that local NFL team performance on equity market participation. Examining the most popular spectator sport in the U.S. the third essay shows that poor performance by local NFL teams correlates with fewer households in that state owning equity. While previous studies argue that sentiment is the driver of sports related behavior, the third essay find that gambling losses may also play a role in the drop in equity market participation following seasons with a low number of wins. Taken together, the dissertation demonstrates the importance of examining external shocks and the effect they have on the behavior of investors. From terrorism to something as seemingly benign as the NFL, the dissertation adds to the behavior finance literature by identifying new shocks that effect the investing behavior of individuals.
Essays On Household Saving Behavior And Fiscal Policy
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Author : Stephen Ira Miran
language : en
Publisher:
Release Date : 2010
Essays On Household Saving Behavior And Fiscal Policy written by Stephen Ira Miran and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.