The demand for risky assets : Sample selection and household portfolios

@inproceedings{Perraudin2000TheDF,
  title={The demand for risky assets : Sample selection and household portfolios},
  author={William R. M. Perraudin and S BentE. and Rensen},
  year={2000}
}
  • William R. M. Perraudin, S BentE., Rensen
  • Published 2000
We estimate a microeconomic model of household asset demands that allows for the fact that households typically have zero holdings of most assets. The adjustments for non-observed heterogeneity generalize methods developed by Dubin and McFadden (1984. Econometrica 52, 345}362). Simulating our model using a random sample of US households, we examine distributional and demographic e!ects on macroeconomic demands for money, stocks and bonds. ( 2000 Elsevier Science S.A. All rights reserved. JEL… CONTINUE READING
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