Habit Formation and Persistence in Individual Asset Portfolio Holdings : The Case of Italy

The Case of Italy

Habit Formation and Persistence in Individual Asset Portfolio Holdings : The Case of Italy
This paper uses six waves of the Bank of Italy Survey of Households Income and Wealth to explore the dynamics of asset portfolio ownership. The household asset portfolio decision is a choice among discrete alternatives, and I model the problem in a multinomial framework. I focus on a particularly important feature of household portfolio... READ MORE...

Publication date: January 2006
ISBN 9781451862898
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