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dc.contributor.authorvan Soest, Arthur
dc.contributor.authorKapteyn, Arie
dc.date.accessioned2007-02-14T18:01:00Z
dc.date.available2007-02-14T18:01:00Z
dc.date.issued2006-05
dc.identifier.urihttps://hdl.handle.net/2027.42/49420
dc.description.abstractStudying household investment behavior is essential for understanding the full consequences of old age social security benefits. Using data from six waves of the Health and Retirement Study, we analyze the dynamics of portfolio composition before respondents start claiming social security benefits. We consider ownership as well as amounts held of several types of assets and debts. Using panel data censored regression models, portfolio adjustment is explained on the basis of demographics like gender, race, and year of birth, education level, household income, and perceived social security entitlements. We find that expectations of old age social security benefits have little effect on portfolio decisions, although there is some evidence that higher expected social security benefits lead to more risky financial investments, particularly in IRAs.en
dc.description.sponsorshipSocial Security Administrationen
dc.format.extent283816 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen
dc.publisherMichigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104en
dc.relation.ispartofseriesWP 2006-119en
dc.titleSavings, Portfolio Choice, and Retirement Expectations.en
dc.typeWorking Paperen
dc.subject.hlbsecondlevelPopulation and Demography
dc.subject.hlbtoplevelSocial Sciences
dc.contributor.affiliationumUniversity of Michigan Retirement Research Centeren
dc.contributor.affiliationumInstitute for Social Research
dc.contributor.affiliationotherRANDen
dc.contributor.affiliationotherTilburg Universityen
dc.contributor.affiliationumcampusAnn Arboren
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/49420/1/wp119.pdfen_US
dc.owningcollnameRetirement Research Center, Michigan (MRRC)


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