Do participation and investment in risky assets increase with wealth? Do the wealth- iest households save at higher rates than the median households and is wealth more concentrated than earnings? Based on survey data, this paper shows that this is the case. Moreover, the paper provides a theoretical framework based on an extended ver- sion of the life-cycle model of consumption and portfolio choice that enables to explain differences in behavior between the wealthiest and others

Preference for wealth and life-cycle portfolio choice

Claudio Campanale;Carolina Fugazza
2022-01-01

Abstract

Do participation and investment in risky assets increase with wealth? Do the wealth- iest households save at higher rates than the median households and is wealth more concentrated than earnings? Based on survey data, this paper shows that this is the case. Moreover, the paper provides a theoretical framework based on an extended ver- sion of the life-cycle model of consumption and portfolio choice that enables to explain differences in behavior between the wealthiest and others
2022
075
1
29
https://www.bemservizi.unito.it/repec/tur/wpapnw/m75.pdf
Life-cycle, Portfolio Choice, Preference over Wealth, Wealth Inequality
Claudio Campanale; Carolina Fugazza
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2318/1876742
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