Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/82853 
Erscheinungsjahr: 
1998
Schriftenreihe/Nr.: 
Working Paper No. 1998:19
Verlag: 
Uppsala University, Department of Economics, Uppsala
Zusammenfassung: 
We analyze households' joint investment decisions for financial wealth and homes. We use a bivariate censored regression model with endogenous switching. Fixed costs or transaction costs are captured by an unobserved nonzero censoring threshold. The model allows for spill-over effects of a binding threshold for one asset on the demand for the other asset. We find that tenure choice affects the level of financial wealth. Our results do not support the view that people first accumulate financial wealth before acquiring homes.This can be due to the absence of down payments constraints in the Netherlands. <p>
Schlagwörter: 
Housing demand
Household saving
Portfolio choice
Limited dependent variables
JEL: 
C34
D12
G11
R21
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
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