EconPapers    
Economics at your fingertips  
 

Household Finance

John Campbell ()

Scholarly Articles from Harvard University Department of Economics

Abstract: The study of household finance is challenging because household behavior is difficult to measure, and households face constraints not captured by textbook models. Evidence on participation, diversification, and mortgage refinancing suggests that many households invest effectively, but a minority make significant mistakes. This minority appears to be poorer and less well educated than the majority of more successful investors. There is some evidence that households understand their own limitations and avoid financial strategies for which they feel unqualified. Some financial products involve a cross-subsidy from naive to sophisticated households, and this can inhibit welfare-improving financial innovation.

Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (471) Track citations by RSS feed

Published in Journal of Finance

Downloads: (external link)
http://dash.harvard.edu/bitstream/handle/1/3157877 ... householdfinance.pdf (application/pdf)

Related works:
Journal Article: Household Finance (2006) Downloads
Working Paper: Household Finance (2006) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hrv:faseco:3157877

Access Statistics for this paper

More papers in Scholarly Articles from Harvard University Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Office for Scholarly Communication ().

 
Page updated 2019-07-12
Handle: RePEc:hrv:faseco:3157877