We derive the distribution of a proxy for the risk tolerance in a representative sample of US
households. Our measure is deduced from the willingness to bear risk as indicated by the …

The normalisation of home ownership is well-rehearsed, yet ongoing. In a bid to free up the
intellectual, political and practical imagination around owner occupation, this paper …

Improving household asset allocation (HAA) ability can enable households to increase
consumption and promote the steady growth of China's economy. However, HAA decisions …

Asset allocation, an important part of household finance, attracts constant attention across
countries. Due to the differences between countries, asset allocation presents different …

Abstract The Universal Two-Child Policy (UTCP) was implemented in 2016 to mitigate
China's aging society. Based on the China Household Finance Survey in 2015 and 2017 …

Land acquisition and demolition (LAD) provides large-scale non-agricultural construction
land for China's rapid economic development and urbanization. Considering the shift from …

We address the issue of the efficiency of household portfolios in the presence of housing
risk. We treat housing stock as an asset and rents as a stochastic liability stream: over the life …

This paper develops a multidimensional framework composed of resistance ability, recovery
ability and transition ability to measure the resilience of households involved in financial …

We calculate optimal portfolio choices for a long-horizon, risk-averse investor who diversifies
among European stocks, bonds, real estate, and cash, when excess asset returns are …

We develop a structural econometric model to elicit household-specific expectations about
future financial asset returns and risk attitudes by using data on observed portfolio holdings …