Journal article
Household finance over the life-cycle: What does education contribute?
Abstract
This paper studies household financial choices: why are these decisions dependent on the education level of the household? A life-cycle model is constructed to understand a rich set of facts about decisions of households with different levels of educational attainment regarding stock market participation, the stock share in wealth, the stock adjustment rate and the wealth–income ratio. Model parameters, including preferences, the costs of stock …
Authors
Cooper R; Zhu G
Journal
Review of Economic Dynamics, Vol. 20, , pp. 63–89
Publisher
Elsevier
Publication Date
April 2016
DOI
10.1016/j.red.2015.12.001
ISSN
1094-2025