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Wednesday, May 20, 2020 | History

2 edition of Household portfolio allocation over the life cycle found in the catalog.

Household portfolio allocation over the life cycle

James M. Poterba

Household portfolio allocation over the life cycle

by James M. Poterba

  • 241 Want to read
  • 14 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Portfolio management -- United States -- Econometric models.,
  • Age groups -- United States -- Economic conditions -- Econometric models.,
  • Saving and investment -- United States -- Econometric models.

  • Edition Notes

    StatementJames M. Poterba, Andrew A. Samwick.
    SeriesNBER working paper series -- working paper 6185, Working paper series (National Bureau of Economic Research) -- working paper no. 6185.
    ContributionsSamwick, Andrew., National Bureau of Economic Research.
    Classifications
    LC ClassificationsHB1 .W654 no. 6185
    The Physical Object
    Pagination29, [24] p. :
    Number of Pages29
    ID Numbers
    Open LibraryOL22401676M

    old Portfolio Allocation over the Life Cycle 3. The Social Security System and the Demand of Personal Annuity and Life Insurance: An Analysis of Japanese Microdata, and . We investigate household flnance (asset allocation decisions among risk free asset, stock, hous-ing and mortgage) in a life-cycle model with costly mortgage reflnancing and default. Our analysis demonstrates that a household.

      He then outlines how to actually build and manage the 7Twelve portfolio--from periodic rebalancing to changes in the asset allocation over the life cycle--and specifically addresses the all-important issue of portfolio Cited by: 3. A powerful, easy-to-use new asset allocation strategy. 7Twelve provides a time-tested recipe for building a diversified, multi-asset investment portfolio with twelve low-cost mutual funds. Author Craig Israelsen keeps it simple with easy-to-understand explanations and illustrative graphs throughout the text as he shows you how to create a balanced portfolio /5(48).

    Asset market participation and portfolio choice over the life-cycle Abstract: We study the life cycle of portfolio allocation following for 15 years a large random sample of Norwegian households using . The issue of portfolio choice over the life cycle is encountered by every investor. Popular finance books [e.g., Malkiel ()] and financial coun- In order to understand the effects of labor income risk on portfolio allocation.


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Household portfolio allocation over the life cycle by James M. Poterba Download PDF EPUB FB2

Household Portfolio Allocation Over the Life Cycle James M. Poterba, Andrew A. Samwick. NBER Working Paper No. Issued in September NBER Program(s):Economics of Aging In this paper, we analyze the relationship between age and portfolio. Household Portfolio Allocation over the Life Cycle James M.

Poterba, Andrew Samwick. Chapter in NBER book Aging Issues in the United States and Japan (), Seiritsu Ogura, Toshiaki Cited by: Downloadable.

This paper provides empirical evidence on life-cycle patterns in the asset allocation of Swedish households. Data on household portfolio allocation are collected from the HINK surveys for the periodand portfolio.

Household portfolio allocation over the life cycle. Cambridge, MA: National Bureau of Economic Research, © (OCoLC) Material Type: Government publication, National government publication, Internet resource: Document Type: Book.

James M. Poterba & Andrew Samwick, "Household Portfolio Allocation over the Life Cycle," NBER Chapters, in: Aging Issues in the United States and Japan, pagesNational Bureau of.

Get this from a library. Household portfolio allocation over the life cycle. [James M Poterba; Andrew Samwick; National Bureau of Economic Research.] -- Abstract: In this paper, we analyze the relationship between age and portfolio.

Abstract. This paper provides empirical evidence on life-cycle patterns in the asset allocation of Swedish households.

Data on household portfolio allocation are collected from the HINK surveys for the periodand portfolio. Numerical solution of a life-cycle model with borrowing constraints and income risk shows that an ARM is generally attractive, but less so for a risk-averse household with a large mortgage, risky.

household asset allocation and in the countries that do the quality varies. The purpose of this paper is to study the life-cycle patterns in households’ portfolio choice using a Swedish data-base suitable for this task – the HINK (Household. The issue of portfolio choice over the life cycle is encountered by every investor.

Popular finance books [e.g., Malkiel ()] and financial counselors generally give the advice to shift the portfolio Cited by: display increasing or hump-shaped proflles over the life-cycle (e.g.

Poterba and Samwick () and Ameriks and Zeldes ()). Again, this is in stark contrast with the standard life-cycle portfolio advice that young households should allocate most of their portfolio to equities, and reduce this allocation as.

A Life Cycle Model with Housing, Portfolio Allocation, and Mortgage Financing 2 1. Introduction This paper develops a model to explain the life-cycle patterns in both homeownership and portfolio allocation File Size: 1MB. The portfolio derived with this simple approach matches the optimal portfolio from the much more complicated dynamic life-cycle models.

An application illustrates that young households Author: Claus Munk. We then consider the implications of the model for the composition of the portfolio over the lifecycle. The model implies that, in the presence of the collateral and nonnegativity constraints, the optimal portfolio will depend on not only the household.

Portfolio Allocation over Life-Cycle with Multiple Late-in-Life Saving Motives Minjoon Lee Novem Job Market Paper Link to the latest version Abstract Older households face health-related risks, including risk of being in need of long-term care and mortality risk.

Portfolio. Consumption and Portfolio Choice over the Life-Cycle Abstract: This paper solves a realistically calibrated life-cycle model of consumption and portfolio choice with non-tradable labor income and borrowing constraints.

Since la-bor income substitutes for riskless asset holdings, the optimal share invested in equities is roughly decreasing over. Life-Cycle Implications for the Household Portfolio Marjorie Flavin UCSD and NBER The paper constructs a model of optimal portfolio allocation that focuses on the role of housing as collateral, allows for house price risk, a $, increase in the value of a residence does not increase the household’s command over.

Optimal Portfolio Choice over the Life-Cycle with Flexible Work, Endogenous Retirement, and Lifetime Payouts Jingjing Chai, Wolfram Horneff, Raimond Maurer, and Olivia S. Mitchell We derive optimal life-cycle. changes over the life-cycle remains very much a challenge for modern finance.

This challenge has a bearing on more than just household portfolios: it is crucial in the study of asset pricing, and for understanding the risk-return trade-off in the economy. In what follows, we first offer a brief survey of empirical evidence on household.

The empirical study of household portfolio allocations over the life-cycle entails formidable data requirements. Ideally, one would employ data on households’ complete portfolio holdings that cov er. (the ownership rate) than on the intensive margin (portfolio shares).

In this paper, I study household portfolio allocation over the life-cycle in Canada, with two spe-ciflc purposes. First, I document the life-cycle patterns in household wealth allocation.

This paper examines how households should optimally allocate their portfolio choices between risky stocks and risk-free bonds over their lifetime. Traditional lifecycle models in previous work suggest that the allocation toward stocks should start high (near %) early in life and decline over Cited by: 3.model with disasters and contrast them with the traditional life-cycle model without disasters.

Section 6 concludes. 2. Asset allocation over the lifecycle – theory and evidence Sophisticated theoretical treatments of dynamic portfolio Cited by: 1.