scholarly journals Owner-Occupied Housing: Life-Cycle Implications for the Household Portfolio

2011 ◽  
Vol 101 (3) ◽  
pp. 609-614 ◽  
Author(s):  
Marjorie Flavin ◽  
Takashi Yamashita
Keyword(s):  
Statistical Significance ◽  
Adjustment Cost ◽  
Survey Of Consumer Finances ◽  
State Variable ◽  
Consumer Finances ◽  
Household Portfolio ◽  
Portfolio Decision ◽  
Lower Ratio ◽  
House Value

The paper constructs a model of optimal portfolio allocation incorporating the role of housing as collateral. Current house value is a state variable in the portfolio decision due to a nonconvex adjustment cost. Holding risk aversion constant, the percentage of the portfolio held in stocks is decreasing in the ratio of house value to net wealth; thus an older household with a lower ratio of house value to net wealth will generally hold more its portfolio in stocks than younger households. Empirical results using the Survey of Consumer Finances confirm the quantitative and statistical significance of the housing state variable.

The Role of Television in Household Debt: Evidence from the 1950's

2010 ◽  
Vol 10 (1) ◽  
Author(s):  
Matthew J. Baker ◽  
Lisa M George
Keyword(s):  
Labor Supply ◽  
Durable Goods ◽  
Television Advertising ◽  
Household Debt ◽  
Micro Data ◽  
Survey Of Consumer Finances ◽  
Mortgage Debt ◽  
Consumer Finances ◽  
Early Access

Abstract We examine whether advertising increases household debt by studying the initial expansion of television in the 1950's. Exploiting the idiosyncratic spread of television across markets, we use micro data from the Survey of Consumer Finances to test whether households with early access to television saw steeper debt increases than households with delayed access. Results indicate that exposure to television advertising increases the tendency to borrow for household goods and the tendency to carry debt. Television access is associated with higher debt levels for durable goods, but not with the total amount of non-mortgage debt. We provide suggestive evidence that increased labor supply may drive our results. The role of media in household debt may be greater than suggested by existing research.

scholarly journals Impact of Economic Shocks on Cumulative Advantage Processes: Recession, Recovery, and Trajectories of Inequality

2021 ◽  
Vol 5 (Supplement_1) ◽  
pp. 508-508
Author(s):  
Stephen Crystal
Keyword(s):  
Potential Role ◽  
Population Level ◽  
Survey Of Consumer Finances ◽  
Subsequent Recovery ◽  
The Great Recession ◽  
Consumer Finances ◽  
Age Cohort ◽  
Using Data ◽  
The Life Course

Abstract This study compares the effect of the 2008 recession and subsequent recovery across generational cohorts by evaluating age-cohort trajectories of income inequality. Using data from the 2007 to 2016 waves of the Survey of Consumer Finances, we examine the trajectory of inequality for the overall population and by cohort in years spanning the Great Recession and subsequent recovery. We find that increases in per-capita income and wealth observed at the population-level during the recovery were not reflected among households below the median, leading to increasing inequality. Within cohorts, we observe growing inequality within cohorts in their primary working years. Findings are consistent with a model of integrative cumulative dis/ advantage, which predicts increasing within-cohort inequality over the life course influenced both by persistent micro- and macro-level processes of increasing heterogeneity. Our analyses highlight the potential role of extreme business cycle fluctuations, booms and busts, to exacerbate this underlying process.

scholarly journals Financial planning and household portfolio performance: evidence from the 1998-2013 survey of consumer finances

2015 ◽  
Author(s):  
◽  
Shan Lei
Keyword(s):  
Financial Planning ◽  
Empirical Support ◽  
Professional Services ◽  
Future Research ◽  
Individual Investors ◽  
Portfolio Performance ◽  
Survey Of Consumer Finances ◽  
Planning Service ◽  
Consumer Finances ◽  
Household Portfolio

This dissertation used datasets from the 1998, 2001, 2004, 2007, 2010 and 2013 Survey of Consumer Finances (SCF) to evaluate the effect of using financial planning services on households' portfolio performance. In this dissertation, portfolio performance was measured by portfolio Sharpe Ratio. Financial planning services were considered to be the professional services provided by lawyers, accountant and financial planners in this dissertation. After controlling other factors, the findings lend empirical support to the belief that financial planning service delivered by professionals benefit households in higher possibility of reaching better portfolio performance. This lends empirical support to claims that professional financial planning services provide value to clients. Implications for individual investors, financial planning professionals, and future research are discussed.

scholarly journals Use of Financial Planners and Portfolio Performance

2016 ◽  
Vol 27 (1) ◽  
pp. 92-108 ◽  
Author(s):  
Shan Lei ◽  
Rui Yao
Keyword(s):  
Financial Planning ◽  
Empirical Support ◽  
Potential Effect ◽  
Wealth Accumulation ◽  
Portfolio Performance ◽  
Survey Of Consumer Finances ◽  
Consumer Finances ◽  
Financial Planners ◽  
Household Portfolio ◽  
Using Data

Using data from the 2013 Survey of Consumer Finances, this study evaluates the potential effect of using financial planners on household portfolio performance, which was measured by Sharpe Ratio. Results revealed that households that reported using financial planners demonstrated better portfolio performance than those that did not. This lends empirical support to claims that professional financial planning services provide value to clients. Implications for investors, financial planning professionals, and researchers are discussed. Considering the direct relation between wealth accumulation and portfolio performance, financial planners should explore ways in which to work with those with limited resources to help them realize the benefits of using financial planners and improve their portfolio performance as a result.

Perceived Income Changes, Saving Motives, and Household Savings

2018 ◽  
Vol 29 (2) ◽  
pp. 396-409 ◽  
Author(s):  
Su Hyun Shin ◽  
Kyoung Tae Kim
Keyword(s):  
Great Recession ◽  
The United States ◽  
Household Savings ◽  
Survey Of Consumer Finances ◽  
The Great Recession ◽  
Consumer Finances ◽  
Negative Income ◽  
Income Shock ◽  
Saving Decisions

Using the 2007–2009 Survey of Consumer Finances panel dataset, we investigate whether and how changes in perceived income and saving motives are related to demand for household savings in the United States after the Great Recession. Households that perceive their current income as lower, relative to normal years are less likely to save than those who view that their income is the same as the reference point. This result holds only for those who experienced a significant negative income shock during the Great Recession. Among five major saving motives, saving for an emergency is an important factor in explaining the likelihood of saving. This study suggests that financial planners and educators should pay close attention to the role of households’ income perception and saving motives and should account for the resulting potential psychological biases in households’ saving decisions.

Fatalistic Tendencies: An Explanation of Why People Don't Save

2005 ◽  
Vol 4 (1) ◽  
Author(s):  
Stephen Wu
Keyword(s):  
World Values Survey ◽  
Household Savings ◽  
Behavioral Factors ◽  
Survey Of Consumer Finances ◽  
Savings Behavior ◽  
Consumer Finances ◽  
Cross Country ◽  
And Control ◽  
Do So

Abstract This paper uses data from the 2001 Survey of Consumer Finances (SCF) and the 2000 World Values Survey (WVS) to analyze the role of fatalism in determining household savings behavior. SCF respondents who feel that luck has played an important role in their financial affairs are more likely to realize their need to save, but are less likely to actually do so. Cross-country evidence from the WVS shows that those who believe they have little freedom and control over their lives are also less likely to save. The results hold after controlling for a number of demographic and behavioral factors, and are consistent across income and wealth levels.

Effect of human galanin on the response of circulating catecholamines to hypoglycemia in man

1995 ◽  
Vol 133 (6) ◽  
pp. 723-728 ◽  
Author(s):  
Ettore C degli Uberti ◽  
Maria R Ambrosio ◽  
Marta Bondanelli ◽  
Giorgio Transforini ◽  
Alberto Valentini ◽  
...  
Keyword(s):  
Heart Rate ◽  
Healthy Subjects ◽  
Sympathetic Nerve Activity ◽  
Heart Rate Response ◽  
Statistical Significance ◽  
Inhibitory Effect ◽  
Amino Acid Residues ◽  
Nerve Activity ◽  
Receptor Stimulation

degli Uberti EC, Ambrosio MR, Bondanelli M, Trasforini G, Valentini A, Rossi R, Margutti A, Campo M. Effect of human galanin on the response of circulating catecholamines to hypoglycemia in man. Eur J Endocrinol 1995;133:723–8. ISSN 0804–4643 Human galanin (hGAL) is a neuropeptide with 30 amino acid residues that has been found in the peripheral and central nervous system, where it often co-exists with catecholamines. In order to clarify the possible role of hGAL in the regulation of sympathoadrenomedullary function, the effect of a 60 min infusion of hGAL (80 pmol·kg−1 · min−1) on plasma epinephrine and norepinephrine responses to insulin-induced hypoglycemia in nine healthy subjects was investigated. Human GAL administration significantly reduced both the release of basal norepinephrine and the response to insulin-induced hypoglycemia, whereas it attenuated the epinephrine response by 26%, with the hGAL-induced decrease in epinephrine release failing to achieve statistical significance. Human GAL significantly increased the heart rate in resting conditions and clearly exaggerated the heart rate response to insulin-induced hypoglycemia, whereas it had no effect on the blood pressure. We conclude that GAL receptor stimulation exerts an inhibitory effect on basal and insulin-induced hypoglycemia-stimulated release of norepinephrine. These findings provide further evidence that GAL may modulate sympathetic nerve activity in man but that it does not play an important role in the regulation of adrenal medullary function. Ettore C degli Uberti, Chair of Endocrinology, University of Ferrara, Via Savonarola 9, I-44100 Ferrara, Italy

Effects of High Intensity Statin Therapy in the Treatment of Diabetic Dyslipidemia in Patients with Coronary Artery Disease

2018 ◽  
Vol 24 (4) ◽  
pp. 427-441 ◽  
Author(s):  
Marija Vavlukis ◽  
Sasko Kedev
Keyword(s):  
Statin Therapy ◽  
High Intensity ◽  
Statistical Significance ◽  
Incident Diabetes ◽  
Moderate Intensity ◽  
Protective Effects ◽  
Pcsk9 Inhibitors ◽  
Diabetic Dyslipidemia ◽  
Patients With Diabetes

Background: Diabetic dyslipidemia has specifics that differ from dyslipidemia in patients without diabetes, which contributes to accelerated atherosclerosis equally as dysglycemia. The aim of this study was to deduce the interdependence of diabetic dyslipidemia and cardiovascular diseases (CVD), therapeutic strategies and the risk of diabetes development with statin therapy. Method: We conducted a literature review of English articles through PubMed, PubMed Central and Cochrane, on the role of diabetic dyslipidemia in atherosclerosis, the antilipemic treatment with statins, and the role of statin therapy in newly developed diabetes, by using key words: atherosclerosis, diabetes mellitus, diabetic dyslipidemia, CVD, statins, nicotinic acid, fibrates, PCSK9 inhibitors. Results: hyperglycemia and dyslipidemia cannot be treated separately in patients with diabetes. It seems that dyslipidemia plays one of the key roles in the development of atherosclerosis. High levels of TG, decreased levels of HDL-C and increased levels of small dense LDL- C particles in the systemic circulation are the most specific attributes of diabetic dyslipidemia, all of which originate from an inflated flux of free fatty acids occurring due to the preceding resistance to insulin, and exacerbated by elevated levels of inflammatory adipokines. Statins are a fundamental treatment for diabetic dyslipidemia, both for dyslipidemia and for CVD prevention. The use of statin treatment with high intensity is endorsed for all diabetes-and-CVD patients, while a moderate - intensity treatment can be applied to patients with diabetes, having additional risk factors for CVD. Statins alone are thought to possess a small, although of statistical significance, risk of incident diabetes, outweighed by their benefits. Conclusion: As important as hyperglycemia and glycoregulation are in CVD development in patients with diabetes, diabetic dyslipidemia plays an even more important role. Statins remain the cornerstone of antilipemic treatment in diabetic dyslipidemia, and their protective effects in CVD progression overcome the risk of statin- associated incident diabetes.

Sign in / Sign up

Export Citation Format

Share Document