RT Journal Article
SR Electronic
T1 Measuring Household Financial Risk
JF The Journal of Wealth Management
FD Institutional Investor Journals
SP 20
OP 29
DO 10.3905/jwm.2012.15.3.020
VO 15
IS 3
A1 Alessandro Bucciol
A1 Marina Stuefer
YR 2012
UL https://pm-research.com/content/15/3/20.abstract
AB The authors use U.S. panel data covering the 1999-2009 period to investigate the link between portfolio risk and household characteristics. They find wide heterogeneity of risk, with about 40% of the households not willing to undertake any risk. They also find some regularities: Whatever indicator they take, risk shows a flat age profile and correlates with wealth and income. Alternative risk indicators provide similar insights, although they vary differently over time. In particular, the measure of implicit risk tolerance grew abnormally in 2009–at the beginning of the recent financial crisis.TOPICS: Wealth management, risk management, financial crises and financial market history