Abstract
In this paper, we investigate how the old generation income structure affects aggregate equity purchases, using Flows of Funds Accounts and Survey of Consumer Finances. Our results suggest that the risk aversion that increases with age could be modified to incorporate the old’s pension ownership. In particular, private pension income to elder households are related to increased aggregate equity purchases, even considering other pension and all other income. In this sense, private pensions are a ‘stepping-stone’ to increased equity investment in US households.
| Original language | English |
|---|---|
| Pages (from-to) | 83-93 |
| Number of pages | 11 |
| Journal | Investment Analysts Journal |
| Volume | 51 |
| Issue number | 2 |
| DOIs | |
| State | Published - 2022 |
Bibliographical note
Publisher Copyright:© 2022 Investment Analysts Society of South Africa.
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 3 Good Health and Well-being
Keywords
- equity purchase
- income structure
- life expectancy
- old generation
- private pension
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