How Extended Family Mental Health Issues Influence Household Portfolio Allocations

IF 4.1 3区经济学 Q1 ECONOMICS

Review of Economics of the Household Pub Date : 2023-07-11 DOI:10.1007/s11150-023-09666-6

Jermaine Toney, Vicki L. Bogan

引用次数: 0

Abstract

Growing research links household financial decisions to physical and mental health status within the nuclear family. We hypothesize that mental health issues (psychological distress) outside of the nuclear family unit are a unique contributor to household portfolio allocation decisions. We use panel data and find that having at least one sibling with psychological distress decreases the probability of risky asset ownership (stocks, mutual funds), decreases risky assets as a share of financial assets, and decreases total amount of risky asset holding. These results have important policy-related implications for understanding the connection between health, portfolio allocation, and wealth building.

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大家庭心理健康问题如何影响家庭投资组合分配

越来越多的研究将家庭财务决策与核心家庭的身心健康状况联系起来。我们假设，核心家庭单位之外的心理健康问题(心理困扰)是家庭投资组合分配决策的独特贡献者。我们使用面板数据发现，至少有一个兄弟姐妹有心理困扰会降低拥有风险资产(股票、共同基金)的概率，降低风险资产占金融资产的比例，并降低风险资产持有总量。这些结果对于理解健康、投资组合配置和财富积累之间的联系具有重要的政策意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Review of Economics of the Household ECONOMICS-

CiteScore

9.30

自引率

3.90%

发文量

期刊介绍： The Review of Economics of the Household publishes high-quality empirical and theoretical research on the economic behavior and decision-making processes of single and multi-person households. The Review is not wedded to any particular models or methods. It welcomes both macro-economic and micro-level applications. Household decisions analyzed in this journal include · household production of human capital, health, nutrition/food, childcare, and eldercare, · well-being of persons living in households, issues of gender and power, · fertility and risky behaviors, · consumption, savings and wealth accumulation, · labor force participation and time use,· household formation (including marriage, cohabitation and fertility) and dissolution,· migration, intergenerational transfers,· experiments involving households,· religiosity and civility.The journal is particularly interested in policy-relevant economic analyses and equally interested in applications to countries at various levels of economic development. The Perspectives section covers articles on the history of economic thought and review articles. Officially cited as: Rev Econ Household