Stockholding Behavior of U.S. Households: Evidence from the 1983-89 Survey of Consumer Finances |
Common terms and phrases
1983 stockholders 75th percentile 83 P Stk 89 P Stk average return bequest motive bivariate probit characteristics Chart conditional probabilities Consumer Finances credit card balances Credit constrained degree of risk Dummy variables Equity Premium Puzzle estimated Federal Reserve System Finance Discussion Papers financial net worth FNTWTH89 High School High School High holding stocks indirect utility function information cost information expense inheritance International Finance Discussion investment horizons LABINC89 leave a bequest level of education LLINC89 LNFNW89 managerial occupation Married median respondent nonfinancial net worth NONFNW83 Nonstockholder in 1983 omitted dummy overcome inertial behavior panel data pay off credit percent predicted probability probability of falling probability of holding retired in 1989 risk aversion Standard Deviations STKXO89 stock market participation Stockholder in 1983 sufficient to deter Survey of Consumer take above average take any financial take average risk take financial risk U.S. households unemployment risk occupation variables are included willingness to take