| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11643 |
| DP11643 Money Illusion and Household Finance | |
| Jean-Robert Tyran; Thomas Thomas | |
| 发表日期 | 2016-11-17 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | We elicit money illusion and match it with financial and sociodemographic data from official registers on a quasi-representative sample of the Danish population. We find that people who are more prone to money illusion hold more of their gross wealth in nominal assets, including bank deposits and bonds, and less in real assets, including real estate and stocks. This bias is robust to controls for education, income, cognitive ability and other relevant characteristics. We further find that money illusion is a costly bias: 10-year portfolio returns are about 10 percentage points lower for individuals with high money illusion. |
| 主题 | Financial Economics |
| 关键词 | Money illusion Loss aversion Household finance |
| URL | https://cepr.org/publications/dp11643 |
| 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/540457 |
| 推荐引用方式 GB/T 7714 | Jean-Robert Tyran,Thomas Thomas. DP11643 Money Illusion and Household Finance. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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