The evolution of private saving and its interaction with government fiscal policy play an important and complex role in the development of the national economy. To gain insight into this process, it is imperative that we improve our understanding of the savings behaviour of individual households and of the ways in which they aggregate over the ...
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 ...
Developments in Europe mirror to a large extent the spread of equity culture in the US, but with lower levels of involvement and interesting differences across European countries. This book provides the theoretical and methodological background necessary for analysis of stockholding behavior, and presents empirical studies that use the most ...
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