| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8097 |
| DP8097 Who Invests in Home Equity to Exempt Wealth from Bankruptcy? | |
| Harry Huizinga; Reint Gropp; Luc Laeven; Stefano Corradin | |
| 发表日期 | 2010-11-08 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data from the Survey of Income and Program Participation for the period 1996-2006, we find that especially households with low net worth maintain a larger share of their wealth as home equity if a larger homestead exemption applies. This home equity bias is also more pronounced if the household head is in poor health, increasing the chance of bankruptcy on account of unpaid medical bills. The bias is further stronger for households with mortgage finance, shorter house tenures, and younger household heads, which taken together reflect households that face more financial uncertainty. |
| 主题 | Financial Economics |
| 关键词 | Home ownership Homestead exemptions Personal bankruptcy Portfolio allocation |
| URL | https://cepr.org/publications/dp8097 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536957 |
| 推荐引用方式 GB/T 7714 | Harry Huizinga,Reint Gropp,Luc Laeven,et al. DP8097 Who Invests in Home Equity to Exempt Wealth from Bankruptcy?. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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