Life-cycle asset accumulation and allocation in Canada
By: Kevin Milligan.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10860; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10860.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Saving and investment -- Canada.; Asset allocation -- Canada.; Portfolio management -- Canada.
Description: "This paper documents the life-cycle patterns of household portfolios in Canada, and investigates several hypotheses about asset accumulation and allocation.  Inferences are drawn from the 1999 Survey of financial security, with some comparisons to earlier wealth surveys from 1977 and 1984.  I find cross-sectional evidence for asset decumulation at older ages when annuitized assets like pension wealth are included in the analysis.  I also find that the portfolio share of financial assets increases sharply with age, while indicators of risk tolerance appear to decrease.  This is consistent with families desiring more liquid and less risky assets as they age"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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Mode of access: World Wide Web.