The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Household Portfolios

  • Michael Haliassos
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2098

Abstract

This entry presents recent work on portfolio behaviour of households and its possible departures from optimal behaviour. Topics include the role of household characteristics in influencing participation in stockholding and portfolio shares conditional on participation; portfolio implications of housing and housing debts; and portfolio coexistence of consumer debt, liquid assets and illiquid assets, with emphasis on credit card debt.

Keywords

Age effects Asset allocation Asset ignorance Asset location Asset trading Bankruptcy Bequest motives Borrowing constraints Business equity Cohort effects Computational methods Conditional portfolio share Consumer debt Consumption risk Correlation between income risk and stock returns Credit card debt Credit cards Debt Debt refinancing Delinquency Diversification Earnings shocks Elasticity of substitution Epstein–Zin preferences Equities Equity premium Financial wealth Fixed entry costs Fixed-rate mortgages Participation costs Home equity loans Homeownership Household finance Household portfolios Housing Housing collateral Hyperbolic discounting Interest-rate wedge Marginal investors Mortgages Mutual funds Real estate Refinancing Retirement Retirement accounts Risk aversion Social interactions Stockholding Stockholding participation rate Stockholding puzzle Stockholding risk Stocks Strategic default motive Time effects Trust Wealth distribution 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Michael Haliassos
    • 1
  1. 1.