题目：The Lifecycle of Household Finance

报告人：Guozhong Zhu（Peking University）

时间：2012年4月27日（周五）10:00-11:30am

地点：成人直播新楼217教室

摘要：This paper studies the lifecycle patterns of household financial decisions, including decisions on assetmarket participation, portfolio adjustment and portfolio composition. We document the decision patternsusing household survey data, and use a household lifecycle model to study thesepatterns. Following the insights from the existing literature that costs associated with stock marketparticipation are important, we infer the nature of different types of costs using structural estimation.We also study the influence of stochastic medical expenditure after retirement on financial decisions.

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