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Asset Ownership Across Generations

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Author Info

  • Ngina S. Chiteji
  • Frank P. Stafford

Abstract

This paper examines cross-generational connections in asset ownership. It begins by presenting a theoretical framework that develops the distinction between the intergenerational transfer of knowledge about financial assets and the direct transfer of dollars from parents to children. Its analysis of data from the Panel Study of Income Dynamics (PSID) reveals intergenerational correlations in asset ownership, and we find evidence to suggest that parental asset ownership or family-based exposure to assets affects adult childrenÕs decisions about bank account and stock ownership.

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File URL: http://www.levyinstitute.org/pubs/wp314.pdf
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Bibliographic Info

Paper provided by Levy Economics Institute in its series Economics Working Paper Archive with number wp_314.

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Date of creation: Sep 2000
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Handle: RePEc:lev:wrkpap:wp_314

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Web page: http://www.levyinstitute.org

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Cited by:
  1. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2008. "Trusting the Stock Market," Journal of Finance, American Finance Association, vol. 63(6), pages 2557-2600, December.
  2. Kerwin Kofi Charles & Erik Hurst, 2003. "The Correlation of Wealth across Generations," Journal of Political Economy, University of Chicago Press, vol. 111(6), pages 1155-1182, December.
  3. repec:hal:wpaper:halshs-00588069 is not listed on IDEAS
  4. Barnea, Amir & Cronqvist, Henrik & Siegel, Stephan, 2010. "Nature or Nurture: What Determines Investor Behavior?," SIFR Research Report Series 72, Institute for Financial Research.

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