Household Portfolios: An International Comparison
AbstractThis paper presents an overview of the main findings of an international project on Household Portfolios coordinated by the authors. Contributions to the project deal with the state of the art in analytical, computational, and econometric methods of analysis of household portfolio choice, identify stylized facts and trends observed in five major countries, and discuss issues relating to the portfolios of two important population groups, namely the elderly and the rich. In this paper, we integrate the main findings of the project, compare portfolio behavior across countries, and contrast theoretical predictions to empirical findings. This allows us to identify a number of stylized facts and portfolio puzzles that future theoretical and empirical research should attempt to analyze and resolve.
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Bibliographic InfoPaper provided by Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy in its series CSEF Working Papers with number 48.
Date of creation: 01 Oct 2000
Date of revision:
Publication status: Published in Economic Policy, 2003, vol. 36, pages 123-70
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