附註:What does theory have to say about household portfolios? / Christian Gollier -- Calibration and computation of household portfolio models / Michael Haliassos and Alexander Michaelides -- Taxation and portfolio structure: issues and implications / James M. Poterba -- Econometric issues in the estimation of household portfolio models / Raffaele Miniaci and Guglielmo Weber -- Household portfolios in the United States / Carol C. Bertaut and Martha Starr-McCluer -- Household portfolios in the United Kingdom / James Banks and Sarah Tanner -- Household portfolios in Italy / Luigi Guiso and Tullio Jappelli -- House portfolios in Germany / Angelika Eymann and Axel Börsch-Supan -- Household portfolios in the Netherlands / Rob Alessie, Stefan Hochguertel, and Arthur Van Soest -- Portfolios of the rich / Christopher D. Carroll -- Portfolio holdings of the elderly / Michael D. Hurd.
Papers presented at the Conference on Household Portfolios, held in Florence, Italy, Dec. 17-18, 1999.
Includes bibliographical references (pages 473-492) and index.
摘要:Theoretical and empirical analysis of the structure of household portfolios.Until recently, researchers in economics and finance paid relatively little attention to household portfolios. Reasons included the tendency of most households to hold simple portfolios, the inability of the dominant asset pricing models to account for household portfolio incompleteness, and the lack of detailed databases on household portfolios in many countries until the late 1980s or 1990s. Now, however, the analysis of household portfolios is emerging as a field of vigorous study.The eleven chapters in this collection provide an overview of current theoretical knowledge about the structure of household portfolios and compare predictions with empirical findings. The book describes the state-of-the-art tools of analytical, computational, and econometric investigation, as well as some of the key policy questions. It provides an original comparative analysis of household portfolios in countries for which detailed household-level data are available (the United States, the United Kingdom, Italy, Germany, and the Netherlands). Finally, it uses microdata for an in-depth study of the portfolio composition of population groups of special policy interest, such as the young, the elderly, and the rich.
