Home Ownership and Household Portfolio Choice
Home Ownership and Household Portfolio Choice
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房屋所有权和家庭投资组合选择
DOI：
10.2139/ssrn.2734033
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发表时间：
2016
期刊：
影响因子：
--
通讯作者：
S. Veldhuizen
中科院分区：
文献类型：
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作者：
T. Michielsen;Remco Mocking;S. Veldhuizen
我们研究了2006-2012年期间房屋净值和负债对荷兰家庭金融投资组合选择的影响。使用家庭层面的大型行政数据集，我们估计了房屋净值和未偿还抵押贷款金额如何影响股票持有的流动资产份额。我们运用不同的计量经济学方法来考虑选择和内生性。在我们首选的规范中，房屋净值和家庭抵押贷款债务对风险资产份额的影响并不显着。
We study the effect of home equity and indebtedness on financial portfolio choices of Dutch households during the period 2006-2012. Using a large administrative dataset at the household level we estimate how home equity and the outstanding mortgage amount influence the share of liquid assets held in stocks. We apply different econometric methods to take selection and endogeneity into account. In our preferred specifications both home equity and the household’s amount of mortgage debt have a non-significant impact on the risky asset share.