标题：The Lifecycle of Household Finance

汇报人：Guozhong Zhu（Peking University）

功夫：2012年4月27日（周五）10:00-11:30am

地址：拉斯维加斯9888新楼217教室

提要：This paper studies the lifecycle patterns of household financial decisions, including decisions on asset market participation, portfolio adjustment and portfolio composition. We document the decision patterns using household survey data, and use a household lifecycle model to study these patterns. Following the insights from the existing literature that costs associated with stock market participation 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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