| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29069 |
| 来源ID | Working Paper 29069 |
| Wealth and Insurance Choices: Evidence from US Households | |
| Michael J. Gropper; Camelia M. Kuhnen | |
| 发表日期 | 2021-07-26 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Theoretically, wealthier people should buy less insurance, and should self-insure through saving instead, as insurance entails monitoring costs. Here, we use administrative data for 63,000 individuals and, contrary to theory, find that the wealthier have better life and property insurance coverage. Wealth-related differences in background risk, legal risk, liquidity constraints, financial literacy, and pricing explain only a small fraction of the positive wealth-insurance correlation. This puzzling correlation persists in individual fixed-effects models estimated using 2,500,000 person-month observations. The fact that the less wealthy have less coverage, though intuitively they benefit more from insurance, might increase financial health disparities among households. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w29069 |
| 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/586743 |
| 推荐引用方式 GB/T 7714 | Michael J. Gropper,Camelia M. Kuhnen. Wealth and Insurance Choices: Evidence from US Households. 2021. |
| 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 | ||
| w29069.pdf（892KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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