Homeownership and portfolio choice over the generations
By: Pardo, Gonzalo Paz
.
Material type: 
BookPublisher: American Economic Journal: Macroeconomics Description: 16(1), Jan, 2024: p.207-237.
In:
American Economic Journal: MacroeconomicsSummary: Earnings are riskier and more unequal for households born in the 1960s and 1980s than for those born in the 1940s. Despite improvements in financial conditions, younger generations are less likely to be living in their own homes than older generations at the same age. By using a life cycle model with housing and portfolio choice that includes flexible earnings risk and aggregate asset price risk, I show that changes in earnings dynamics account for a large part of the reduction in homeownership across generations. Lower-income households find it harder to buy housing and, as a result, accumulate less wealth.- Reproduced
https://www.aeaweb.org/articles?id=10.1257/mac.20200473
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
Articles
|
Indian Institute of Public Administration | 16(1), Jan, 2024: p.207-237 | Available | AR131320 |
Earnings are riskier and more unequal for households born in the 1960s and 1980s than for those born in the 1940s. Despite improvements in financial conditions, younger generations are less likely to be living in their own homes than older generations at the same age. By using a life cycle model with housing and portfolio choice that includes flexible earnings risk and aggregate asset price risk, I show that changes in earnings dynamics account for a large part of the reduction in homeownership across generations. Lower-income households find it harder to buy housing and, as a result, accumulate less wealth.- Reproduced
https://www.aeaweb.org/articles?id=10.1257/mac.20200473
There are no comments for this item.