Life-cycle asset accumulation and allocation in Canada
AbstractThis paper documents the life-cycle patterns of household portfolios in Canada, and investigates several hypotheses about asset accumulation and allocation. Inferences are drawn from the 1999 Survey of Financial Security, with some comparisons to earlier wealth surveys from 1977 and 1984. I find cross-sectional evidence for asset decumulation at older ages when annuitized assets like pension wealth are included in the analysis. I also find that the portfolio share of financial assets increases sharply with age, while indicators of risk tolerance appear to decrease. This is consistent with families' desiring more liquid and less risky assets as they age.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Canadian Economics Association in its journal Canadian Journal of Economics.
Volume (Year): 38 (2005)
Issue (Month): 3 (August)
Contact details of provider:
Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4
Web page: http://economics.ca/cje/
More information through EDIRC
Other versions of this item:
- Kevin Milligan, 2004. "Life-cycle Asset Accumulation and Allocation in Canada," Social and Economic Dimensions of an Aging Population Research Papers 122, McMaster University.
- Kevin Milligan, 2004. "Life-Cycle Asset Accumulation and Allocation in Canada," NBER Working Papers 10860, National Bureau of Economic Research, Inc.
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Courtney Coile & Kevin Milligan, 2006.
"How Household Portfolios Evolve After Retirement: The Effect of Aging and Health Shocks,"
NBER Working Papers
12391, National Bureau of Economic Research, Inc.
- Courtney Coile & Kevin Milligan, 2009. "How Household Portfolios Evolve After Retirement: The Effect Of Aging And Health Shocks," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(2), pages 226-248, 06.
- Martin Gervais & Manish Pandey, 2005.
"Who Cares about Mortgage Interest Deductibility?,"
University of Western Ontario, Economic Policy Research Institute Working Papers
20059, University of Western Ontario, Economic Policy Research Institute.
- Kevin Milligan, 2007.
"The Evolution of Elderly Poverty in Canada,"
Social and Economic Dimensions of an Aging Population Research Papers
170, McMaster University.
- Margaret Denton & Linda Boos, 2007. "Gender Inequality in the Wealth of Older Canadians," Social and Economic Dimensions of an Aging Population Research Papers 169, McMaster University.
- Daniel B�land, 2006. "What Ownership Society: Debating Housing and Social Security Reform in the United States," Social and Economic Dimensions of an Aging Population Research Papers 150, McMaster University.
- Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2008.
"The Asset Portfolios of Native-Born and Foreign-Born Households,"
IZA Discussion Papers
3304, Institute for the Study of Labor (IZA).
- Deborah A. Cobb-Clark & Vincent A. Hildebrand, 2008. "The Asset Portfolios of Native-born and Foreign-born Households," CEPR Discussion Papers 567, Centre for Economic Policy Research, Research School of Economics, Australian National University.
- Stephen Birch & George Kephart & Gail Tomblin-Murphy & Linda O'Brien-Pallas & Rob Alder & Adrian MacKenzie, 2007. "Health human resources planning and the production of health: Development of an extended analytical framework for needs-based health human resources planning," Social and Economic Dimensions of an Aging Population Research Papers 168, McMaster University.
- Richard Ochmann, 2010.
"Differential Income Taxation and Household Asset Allocation,"
Discussion Papers of DIW Berlin
1058, DIW Berlin, German Institute for Economic Research.
- Richard Ochmann, 2014. "Differential income taxation and household asset allocation," Applied Economics, Taylor & Francis Journals, vol. 46(8), pages 880-894, March.
- Isik U. Zeytinoglu & Margaret Denton, 2006. "Satisfied Workers, Retained Workers: Effects of Work and Work Environment on Homecare Workers' Job Satisfaction, Stress, Physical Health, and Retention," Social and Economic Dimensions of an Aging Population Research Papers 166, McMaster University.
- Katchova, Ani L., 2006. "The Economic Well-Being of Farm and Nonfarm Households: Evidence from Two National Surveys," 2006 Annual meeting, July 23-26, Long Beach, CA 21401, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Sule Alan, 2004. "Precautionary Wealth and Portfolio Allocation: Evidence from Canadian Microdata," Social and Economic Dimensions of an Aging Population Research Papers 117, McMaster University.
- Anders, Sven, 2010. "Ageing And Consumption – The Impact Of Demographic Change On Food Expenditure Patterns," 115th Joint EAAE/AAEA Seminar, September 15-17, 2010, Freising-Weihenstephan, Germany 116442, European Association of Agricultural Economists & Agricultural and Applied Economics Association.
- Katchova, Ani L., 2005. "A Comparison of Farm and Nonfarm Households," Proceedings: 2005 Agricultural and Rural Finance Markets in Transition,October 3-4, 2005; Minneapolis, Minnesota 132757, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
- Davies, James B. & Yu, Xiaoyu, 2013. "Impacts of Cyclical Downturns on the Third Pillar of the RIS and Policy Responses," CLSSRN working papers clsrn_admin-2013-20, Vancouver School of Economics, revised 29 Apr 2013.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Prof. Werner Antweiler).
If references are entirely missing, you can add them using this form.