| 000 | 01138nam a22001457a 4500 | ||
|---|---|---|---|
| 999 |
_c525522 _d525522 |
||
| 008 | 240319b ||||| |||| 00| 0 eng d | ||
| 100 |
_aPardo, Gonzalo Paz _950305 |
||
| 245 | _aHomeownership and portfolio choice over the generations | ||
| 260 | _aAmerican Economic Journal: Macroeconomics | ||
| 300 | _a16(1), Jan, 2024: p.207-237 | ||
| 520 | _aEarnings 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 | ||
| 773 | _aAmerican Economic Journal: Macroeconomics | ||
| 906 | _aHOUSING | ||
| 942 | _cAR | ||