My research addresses these issues. Specifically, in the first chapter I study the heterogeneity in households' portfolio choice and performance and find that the trade-offs between average payoffs and risk alone cannot explain heterogeneity in portfolio returns. In the second section, I address a long-standing question in macroeconomics and finance- the value of the risk aversion for households with different wealth levels. In the third chapter, I study the effect of political affiliation on portfolio choice.... with total savings and investments from astocks, bonds, or mutual funds in an investment account, or in a self- directed IRA or 401(k) retirement accounta of $10, 000 or more. ... due to the large number of interviewed investors each month. It is important to mention that not all the monthly polls have the same set of questions.
|Title||:||Essays in Dynamic Household Finance with Heterogeneous Agents|
|Publisher||:||ProQuest - 2008|