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On the Optimal Provision of Social Insurance
(2015-08-29)
In this paper we compute the optimal tax and education policy transition in an economy where progressive taxes provide social insurance against idiosyncratic wage risk, but distort the education decision of households. ...
Asset Market Participation and Portfolio Choice Over the Life-Cycle
(2015-06-01)
We study the life cycle of portfolio allocation following for 15 years a large random sample of Norwegian households using error-free data on all components of households’ investments drawn from the Tax Registry. Both, ...
On the Distributive Effects of Inflation
(2015-06-01)
This paper undertakes a quantitative investigation of the effects of anticipated inflation on the distribution of household wealth and welfare. Consumer Finance Data on household financial wealth suggests that about a third ...
Gender Differences in Financial Advice
(2015-03-04)
We show that financial advisors recommend more costly products to female clients, based onminutes from about 27,000 real-world advisory meetings and client portfolio data. Funds recommended to women have higher expense ...