| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w2392 |
| 来源ID | Working Paper 2392 |
| Asset Accumulation, Information, and the Life Cycle | |
| Mervyn A. King; Jonathan I. Leape | |
| 发表日期 | 1987-09-01 |
| 出版年 | 1987 |
| 语种 | 英语 |
| 摘要 | Empirical tests of the life cycle model have focused on its implications for the level of a household's total net worth and paid little attention to changes in portfolio composition over the life cycle. In this paper, we examine a new survey of the asset holdings of 6,010 U.S households and show that there is a pronounced life-cycle pattern to both the number and value of assets held by U.S. households. Direct survey evidence suggests that incomplete information is a significant determinant of household portfolio composition. We test the hypothesis that information about investment opportunities arrives stochastically over time, estimating a Poisson model for the arrival of new information. |
| 主题 | Other ; Econometrics |
| URL | https://www.nber.org/papers/w2392 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/559647 |
| 推荐引用方式 GB/T 7714 | Mervyn A. King,Jonathan I. Leape. Asset Accumulation, Information, and the Life Cycle. 1987. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w2392.pdf（259KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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