Entrepreneurial participation depth on household risky financial asset allocation

The Impact of Financial Education on Savings and Asset Allocation

The responsibility to save and contribute to a pension is increasingly left to the individual worker. Understanding how households save and prepare for retirement is of paramount importance. There is concern in the U.S. that many families have little or no wealth even close to retirement. In this project, I use data from the Health and Retirement Study (HRS), a nationally representative sample ...

Household Asset Allocation, Offspring Education, and the Sandwich Generation

Family size has always been a key factor affecting household investment decision making behavior (Browning 1992). Yet, recently, household financial decision making issues have become even more acute for millions of households that are part of the “Sandwich Generation.” Households with children approaching collegeage are now providing financial support for aging relatives. This combined with th...

Financial Depth – Financial Repression Linkage

Female Labor Participation and the Allocation of Household Expenditure

We study the influence of the female labor participation in the household expenditure allocation, considering the joint decision between consumption and leisure. The theoretical framework is a collective model in which the agents are the man and the woman and it is assumed that the result of their decisions is Pareto-efficient. The change in expenditure-elasticities depending on the female labo...

The impact of asset-tested college financial aid on household savings

Federal college financial aid imposes an implicit tax on asset accumulation, which reduces the incentive for families to save. Prior literature has found evidence of large reductions in asset accumulation as a result. This paper finds that these conclusions are over-estimated and are sensitive to the assumptions used in estimating the implicit tax rate. Additionally, the 1992 exemption of home ...