Household Finance eJournal最新文献_第4页

Income Trajectories in Later Life: Longitudinal Evidence from the Health and Retirement Study 晚年的收入轨迹:来自健康和退休研究的纵向证据

Household Finance eJournal Pub Date : 2021-04-26 DOI: 10.3386/W28721

Olivia S. Mitchell, Robert L. Clark, A. Lusardi

引用次数: 1

Understanding Japanese Household Portfolios 了解日本家庭投资组合

Household Finance eJournal Pub Date : 2021-04-23 DOI: 10.2139/ssrn.3832657

Kosuke Aoki, Alexander Michaelides, Kalin Nikolov

引用次数: 0

On the Portfolio Choice of Crypto Asset Class: Meet the Gentlemen Investors 论加密资产类别的投资组合选择:与投资者先生们见面

Household Finance eJournal Pub Date : 2021-04-18 DOI: 10.2139/ssrn.3829275

Yosef Bonaparte

{"title":"On the Portfolio Choice of Crypto Asset Class: Meet the Gentlemen Investors","authors":"Yosef Bonaparte","doi":"10.2139/ssrn.3829275","DOIUrl":"https://doi.org/10.2139/ssrn.3829275","url":null,"abstract":"We utilize a unique data from the recent wave of Survey of Consumer Finance 2019 to analyze the portfolio choice of a new and raising asset class: cryptocurrency. Specifically, we study who owns crypto and why? We first analyze how key households’ demographic (age, gender, race, etc.) and household’s traits/preferences (time horizon, financial literacy, optimism, etc.) influence crypto ownership. We find that crypto owners are more of college white male; with generational gap as mostly millennials. Moreover, they are financially literate; social; pessimistic; with longer time horizon and employ high research when investing. We then turn to study the relationship between crypto asset class with other asset classes (stock equity, bonds, home and business), and find that only direct holding of stocks increase the propensity to own crypto, while other asset classes negatively influence the likelihood to own crypto. We then zoomed in this subgroup of direct stockholders to draw inference on their portfolio properties that impact crypto ownership, and find that these investors consider crypto asset class to be a part of portfolio diversity. Furthermore, we analyze what are the key motives for investing in crypto and find that consumption smoothing and hedging against rainy days and emergencies are the key motives to invest crypto, while retirement motive has no impact. Collectively, we are able to profile crypto owners, who exhibit a unique personality and call them as gentleman investors: social, intensively search, less overconfident, less claiming financial knowledge and financially literate.","PeriodicalId":428959,"journal":{"name":"Household Finance eJournal","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114512907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 7

A Behavioural Gap in Survival Beliefs 生存信念中的行为差异

Household Finance eJournal Pub Date : 2021-04-07 DOI: 10.2139/ssrn.3821595

Giovanna Apicella, Enrico G. De Giorgi

引用次数: 0

Reference Points for Retirement Behavior: Evidence from German Pension Discontinuities 退休行为的参考点:来自德国养老金不连续性的证据

Household Finance eJournal Pub Date : 2021-04-01 DOI: 10.1257/AER.20191136

Arthur Seibold

引用次数: 60

Leveraged Property Cycles 杠杆房地产周期

Household Finance eJournal Pub Date : 2021-04-01 DOI: 10.2139/ssrn.3832773

I. Jaccard

引用次数: 0

Estimating the Financial Impact of Gene Therapy in the U.S 估计基因治疗在美国的经济影响

Household Finance eJournal Pub Date : 2021-04-01 DOI: 10.3386/W28628

Chi Heem Wong, Dexin Li, Nina Wang, J. Gruber, R. Conti, A. Lo

{"title":"Estimating the Financial Impact of Gene Therapy in the U.S","authors":"Chi Heem Wong, Dexin Li, Nina Wang, J. Gruber, R. Conti, A. Lo","doi":"10.3386/W28628","DOIUrl":"https://doi.org/10.3386/W28628","url":null,"abstract":"We empirically assess the potential financial impact of future gene therapies on the US economy. After identifying 109 late-stage gene therapy clinical trials currently underway, we estimate the number of new and existing patients with corresponding diseases to be treated by these gene therapies, developing and applying novel mathematical models to estimate the increase in quality-adjusted life years for each approved gene therapy. We then simulate the launch prices and the expected spending for these therapies over a 15-year time horizon. Under conservative assumptions, the results of our simulation suggest that an expected total of 1.09 million patients will be treated by gene therapy from January 2020 to December 2034. The expected peak annual spending on these therapies is $25.3 billion, and the expected total spending from January 2020 to December 2034 is $306 billion. Assuming a linear pace of future gene therapy development fitted to past experience, our spending estimate increases by only 15.7% under conservative assumptions. As a proxy for the impact of expected spending on different public and private payers, we decompose the estimated annual spending by treated age group. Since experience suggests that insurers with annual budget constraints may restrict access to therapies with expected benefit to the patient, we consider various methods of payment to ensure access to these therapies even among those insured by the most budget-constrained payers.<br><br>Institutional subscribers to the NBER working paper series, and residents of developing countries may download this paper without additional charge at <a href=\"http://www.nber.org/papers/w28628\" TARGET=\"_blank\">www.nber.org</a>.<br>","PeriodicalId":428959,"journal":{"name":"Household Finance eJournal","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125941370","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 6

National Identity Ownership and Financial Inclusion in Uganda 乌干达的国民身份、所有权和金融包容性

Household Finance eJournal Pub Date : 2021-03-28 DOI: 10.2139/ssrn.3814172

Festo Nyende Tusubira, Cynthia Mbabazi

{"title":"National Identity Ownership and Financial Inclusion in Uganda","authors":"Festo Nyende Tusubira, Cynthia Mbabazi","doi":"10.2139/ssrn.3814172","DOIUrl":"https://doi.org/10.2139/ssrn.3814172","url":null,"abstract":"Ownership of a unique and legal identity is crucial for financial inclusion in Uganda as majority of financial service providers demand a national identity (ID) to satisfy the KYC (Know your customer) requirements. This study attempts to examine the effect of ownership of a national ID on financial inclusion in Uganda. The study utilizes the 2017 World Bank Global Findex data and finds that national ID ownership is statistically significant in predicting the likelihood of being financially included in Uganda. With 95% confidence, national ID ownership, phone ownership, education, income quintile, and employment status significantly predict the likelihood of being financially included in Uganda. The study further reveals that an individual who owns a national ID and owns a phone, has secondary school education, is in the richest 20% income quintile, and is in the workforce is more likely to be financially included compared to the same individual without a national ID although the result is not statistically significant. Generally, the study argues that Uganda can boost financial inclusion by harnessing ID ownership among the financially excluded. The study recommends that national ID ownership policies should be integrated with other policies such as human capital development, income equality, employment, and increasing phone ownership in order to achieve efficient outcomes.","PeriodicalId":428959,"journal":{"name":"Household Finance eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122546569","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Real and Private-Value Assets 不动产和私人价值资产

Household Finance eJournal Pub Date : 2021-03-22 DOI: 10.2139/ssrn.3803091

W. Goetzmann, C. Spaenjers, Stijn Van Nieuwerburgh

引用次数: 7

Estimation of Spillover Effects in Home Mortgage Delinquencies with Sampled Loan Performance Data 基于样本贷款绩效数据的住房抵押贷款违约溢出效应估计

Household Finance eJournal Pub Date : 2021-03-16 DOI: 10.2139/ssrn.3901990

Hua Kiefer, Denghui Chen, Xiaodong Liu

引用次数: 0