Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/82936
Authors: 
Andersson, Björn
Year of Publication: 
2001
Series/Report no.: 
Working Paper, Department of Economics, Uppsala University 2001:4
Abstract: 
This paper provides empirical evidence on life-cycle patterns in the asset allocation of Swedish households. Data on household portfolio allocation are collected from the HINK surveys for the period 1982-1992, and portfolio shares of different asset categories are regressed on age, period, and cohort dummies as well as socio-economic and demographic variables. There are evident differences in the age profiles for the demand of different assets. The fraction of risky financial assets follows a hump-shaped age profile, as does the share of total real assets. While the probability of ownership of safe financial assets increases over life, the weight in the portfolio has a U-shaped age pattern. This is also true for the fraction of total financial assets. Furthermore, there are differences in the asset allocation of different birth cohorts; the portfolio weight of real assets is relatively higher for the baby-boom generation, while younger generations are more prone to invest in risky financial assets.
Subjects: 
Life cycle
asset demand
portfolio choice
cohort
differential mortality
Sweden
JEL: 
C20
D91
E21
G11
J10
Document Type: 
Working Paper

Files in This Item:
File
Size
235.22 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.