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How Children with Mental Disabilities Affect Household Investment Decisions

Vicki L. Bogan and Jose M. Fernandez

American Economic Review, 2017, vol. 107, issue 5, 536-40

Abstract: We analyze how children with mental disabilities influence parental portfolio allocation. We find that risky asset holding decreases among households with special needs children. However, conditional on participating in financial markets, households with special needs children invest a larger portion of their wealth in risky assets. As risky asset holding is a key component of wealth building, these findings have important implications for both policy and household wealth inequality.

JEL-codes: D13 D14 I12 J13 J14 (search for similar items in EconPapers)
Date: 2017
Note: DOI: 10.1257/aer.p20171145
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Handle: RePEc:aea:aecrev:v:107:y:2017:i:5:p:536-40