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Autor:innen: 
Erscheinungsjahr: 
2001
Schriftenreihe/Nr.: 
Working Paper No. 2001:4
Verlag: 
Uppsala University, Department of Economics, Uppsala
Zusammenfassung: 
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.
Schlagwörter: 
Life cycle
asset demand
portfolio choice
cohort
differential mortality
Sweden
JEL: 
C20
D91
E21
G11
J10
Dokumentart: 
Working Paper

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