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
File in questo prodotto:
| File | Dimensione | Formato | |
|---|---|---|---|
|
m75.pdf
Accesso aperto
Dimensione
3.17 MB
Formato
Adobe PDF
|
3.17 MB | Adobe PDF | Visualizza/Apri |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
