Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/25540 
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dc.contributor.authorChristelis, Dimitrisen
dc.contributor.authorGeorgarakos, Dimitrisen
dc.contributor.authorHaliassos, Michaelen
dc.date.accessioned2008-03-12-
dc.date.accessioned2009-07-24T13:48:39Z-
dc.date.available2009-07-24T13:48:39Z-
dc.date.issued2008-
dc.identifier.piurn:nbn:de:hebis:30-53229en
dc.identifier.urihttp://hdl.handle.net/10419/25540-
dc.description.abstractThis paper documents and studies sources of international differences in participation and holdings in stocks, private businesses, and homes among households aged 50+ in the US, England, and eleven continental European countries, using new internationally comparable, household-level data. With greater integration of asset and labor markets and policies, households of given characteristics should be holding more similar portfolios for old age. We decompose observed differences across the Atlantic, within the US, and within Europe into those arising from differences: a) in the distribution of characteristics and b) in the influence of given characteristics. We find that US households are generally more likely to own these assets than their European counterparts. However, European asset owners tend to hold smaller real, PPP-adjusted amounts in stocks and larger in private businesses and primary residence than US owners at comparable points in the distribution of holdings, even controlling for differences in configuration of characteristics. Differences in characteristics often play minimal or no role. Differences in market conditions are much more pronounced among European countries than among US regions, suggesting significant potential for further integration.en
dc.language.isoengen
dc.publisher|aGoethe University Frankfurt, Center for Financial Studies (CFS) |cFrankfurt a. M.en
dc.relation.ispartofseries|aCFS Working Paper |x2008/05en
dc.subject.jelG21en
dc.subject.jelE23en
dc.subject.ddc330en
dc.subject.keywordIntegrationen
dc.subject.keywordAgingen
dc.subject.keywordHousehold Portfoliosen
dc.subject.keywordStockholdingen
dc.subject.keywordPrivate Businessen
dc.subject.keywordHousingen
dc.subject.keywordCounterfactual Decompositionsen
dc.subject.keywordQuantile Regressionen
dc.subject.stwAnlageverhaltenen
dc.subject.stwPortfolio-Managementen
dc.subject.stwInternationaler Finanzmarkten
dc.subject.stwMarktintegrationen
dc.subject.stwVergleichen
dc.subject.stwUSAen
dc.subject.stwEU-Staatenen
dc.titleEconomic integration and mature portfolios-
dc.typeWorking Paperen
dc.identifier.ppn559762461en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cfswop:200805en

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