Identifying Drivers for the Accumulation of Household Financial Wealth
نویسندگان
چکیده
منابع مشابه
How Financial Literacy Affects Household Wealth Accumulation.
This study isolates the causal effects of financial literacy and schooling on wealth accumulation using a new household dataset and an instrumental variables (IV) approach. Financial literacy and schooling attainment are both strongly positively associated with wealth outcomes in linear regression models, whereas the IV estimates reveal even more potent effects of financial literacy. They also ...
متن کاملFinancial Literacy, Retirement Planning, and Household Wealth
There is ample empirical evidence documenting widespread financial illiteracy and limited pension knowledge. At the same time, the net worth distribution is heavily dispersed and many workers arrive on the verge of retirement with little or no personal wealth. This paper is the first to investigate the relation between financial sophistication and household net worth relying on specific measure...
متن کاملHow Do Pensions Affect Household Wealth Accumulation?
Most analyses of pension effects on saving behavior use an empirical specification derived from a very simple version of the life cycle model, with a fixed retirement age, a perfect capital market, isoelastic or quadratic preferences, and a " unitary " specification of household preferences. My empirical analysis relaxes several of these strong assumptions. The results indicate that estimates o...
متن کاملThe Dynamics of Household Wealth Accumulation in Italy
We examine the dynamics of wealth accumulation distribution in Italy using data drawn from the Survey of Household Income and Wealth, a representative survey of the Italian population conducted by the Bank of Italy. We compare survey data with national accounts data and discuss sample representativeness, attrition, and measurement issues. We then look at wealth inequality (the cross-sectional d...
متن کاملHousehold Wealth Accumulation and Portfolio Choices in Korea
This paper constructs a quantitative lifecycle model with uninsurable labor income and aggregate housing return risk to assess how Korean households make saving and portfolio allocation decisions. The model incorporates the special roles housing plays in the portfolio of households: collateral, a source of service flows, as well as a source of potential capital gains or losses. In the model, a ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2013
ISSN: 1556-5068
DOI: 10.2139/ssrn.2214962