326642
326642
omssb
2017-10-20T11:26:00.000Z
no

Seminar

SSBs forskningsseminar

Foredragsholder
Professor Samuli Knüpfer
Dato
26. oktober 2017
Når
Kl. 13.15 – 14.15
Hvor
SSB, Akersveien 26, Møterom Utdanning

Innhold

Professor Samuli Knüpfer

BI Norwegian Business School

http://www.samuliknupfer.com/home

Why Does Portfolio Choice Correlate across Generations?

The returns individuals earn on financial wealth correlate positively across generations. We establish this result by analyzing the full population of household investors in Finland. The correlation extends to both historical and expected returns and the intergenerational spread in returns implies sizeable differences in wealth accumulation over time. Asset holdings reveal that returns correlate mostly because family members choose the same securities. An instrument using non-overlapping peer groups and a natural experiment based on mergers allow us to address causality. We find causal influence not only from parents to children but also in the opposite direction. Our findings have implications for understanding wealth inequality and portfolio heterogeneity.

 

Praktisk informasjon

Servering av kaffe, te og baguetter fra kl. 13:00

Kontakt

  • Stilling
    Forsker - Har permisjon
    E-post
    andreas.fagereng@ssb.no
    Telefon
    97728419