Auflistung LIF-SAFE Working Papers nach JEL-Klassifizierung "D14"
Anzeige der Dokumente 21-27 von 27
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The Disposition Effect in Boom and Bust Markets
(2021-02-05)The disposition effect is implicitly assumed to be constant over time. However, drivers of the disposition effect (preferences and beliefs) are rather countercyclical. We use individual investor trading data covering several ... -
The Effect of Personal Financing Disruptions on Entrepreneurship
(2018-10-14)This paper studies how disruptions to personal sources of financing, aside from commercial lending supply shocks, impair the survival and growth of small businesses. Entrepreneurs holding deposit accounts at retail banking ... -
The Trading Response of Individual Investors to Local Bankruptcies
(2020-03-20)We use data from a German online brokerage and a survey to show that retail investors sharply reduce risk-taking in response to nearby firm bankruptcies, which are not predictive of returns. The effects on trading are ... -
Twin Picks: Disentangling the Determinants of Risk-Taking in Household Portfolios
(2013-03-21)This paper investigates risk-taking in the liquid portfolios held by a large panel of Swedish twins. We document that the portfolio share invested In risky assets is an increasing and concave function of financial wealth, ... -
When Should Retirees Tap Their Home Equity?
(2020-10-28)This paper studies a household’s optimal demand for a reverse mortgage. These contracts allow homeowners to tap their home equity to finance consumption needs. In stylized frameworks, we show that the decision to enter a ... -
Who Are the Bitcoin Investors? Evidence from Indirect Cryptocurrency Investments
(2019-12-10)Cryptocurrencies have received growing attention from individuals, the media, and regulators. However, little is known about the investors whom these financial instruments attract. Using administrative data, we describe ... -
Will They Take the Money and Work? An Empirical Analysis of People’s Willingness to Delay Claiming Social Security Benefits for a Lump Sum
(2014-01-01)This paper investigates whether exchanging the Social Security delayed retirement credit, currently paid as an increase in lifetime annuity benefits, for a lump sum would induce later claiming and additional work. We show ...