'Being in the market': the UK house-price bubble and the intended structure of individual pension investment portfolios
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Daniel Dorn & Gur Huberman, 2005.
"Talk and Action: What Individual Investors Say and What They Do,"
Review of Finance, Springer, vol. 9(4), pages 437-481, December.
- Daniel Dorn & Gur Huberman, 2005. "Talk and Action: What Individual Investors Say and What They Do," Review of Finance, European Finance Association, vol. 9(4), pages 437-481.
- Edward E. Leamer, 2007.
"Housing is the business cycle,"
Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 149-233.
- Edward E. Leamer, 2007. "Housing IS the Business Cycle," NBER Working Papers 13428, National Bureau of Economic Research, Inc.
- Xavier Gabaix & David Laibson & Guillermo Moloche & Stephen Weinberg, 2006. "Costly Information Acquisition: Experimental Analysis of a Boundedly Rational Model," American Economic Review, American Economic Association, vol. 96(4), pages 1043-1068, September.
- Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde & Jürgen Schupp & Gert G. Wagner, 2005.
"Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey,"
Discussion Papers of DIW Berlin
511, DIW Berlin, German Institute for Economic Research.
- Wagner, Gert Georg & Falk, Armin & Dohmen, Thomas J & Sunde, Uwe & Schupp, Jürgen & Huffman, David, 2006. "Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey," CEPR Discussion Papers 5517, C.E.P.R. Discussion Papers.
- Thomas Dohmen & Armin Falk & David Huffman & Jurgen Schupp & Uwe Sunde & Gert Wagner, 2005. "Individual risk attitudes: New evidence from a large, representative, experimentally-validated survey," Framed Field Experiments 00140, The Field Experiments Website.
- Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde & Juergen Schupp & Gert Wagner, 2005. "Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey," Working Papers 2096, The Field Experiments Website.
- Dohmen, Thomas & Falk, Armin & Huffman, David B. & Sunde, Uwe & Schupp, Jürgen & Wagner, Gert G., 2005. "Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey," IZA Discussion Papers 1730, Institute of Labor Economics (IZA).
- Robert J. Shiller, 2007.
"Understanding recent trends in house prices and homeownership,"
Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 89-123.
- Robert J. Shiller, 2007. "Understanding Recent Trends in House Prices and Home Ownership," NBER Working Papers 13553, National Bureau of Economic Research, Inc.
- Shiller, Robert J., 2007. "Understanding Recent Trends in House Prices and Home Ownership," Working Papers 28, Yale University, Department of Economics.
- Robert J. Shiller, 2007. "Understanding Recent Trends in House Prices and Home Ownership," Cowles Foundation Discussion Papers 1630, Cowles Foundation for Research in Economics, Yale University, revised Oct 2007.
- Dickens, Richard, 2000. "The Evolution of Individual Male Earnings in Great Britain: 1975-95," Economic Journal, Royal Economic Society, vol. 110(460), pages 27-49, January.
- Kalwij, Adriaan & Alessie, Rob, 2003.
"Permanent and Transitory Wage Inequality of British Men, 1975-2001: Year, Age and Cohort Effects,"
IZA Discussion Papers
686, Institute of Labor Economics (IZA).
- R. Alessie & A.S. Kalwij, 2003. "Permanent and Transitory Wage Inequality of British Men, 1975-2001: Year, Age and Cohort Effects," Working Papers 03-04, Utrecht School of Economics.
- Richard H. Thaler & Shlomo Benartzi, 2001. "Naive Diversification Strategies in Defined Contribution Saving Plans," American Economic Review, American Economic Association, vol. 91(1), pages 79-98, March.
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, March.
- Meric S. Gertler, 2003. "Tacit knowledge and the economic geography of context, or The undefinable tacitness of being (there)," Journal of Economic Geography, Oxford University Press, vol. 3(1), pages 75-99, January.
- Paul A. Samuelson, 2011.
"Lifetime Portfolio Selection by Dynamic Stochastic Programming,"
World Scientific Book Chapters, in: Leonard C MacLean & Edward O Thorp & William T Ziemba (ed.), THE KELLY CAPITAL GROWTH INVESTMENT CRITERION THEORY and PRACTICE, chapter 31, pages 465-472,
World Scientific Publishing Co. Pte. Ltd..
- Samuelson, Paul A, 1969. "Lifetime Portfolio Selection by Dynamic Stochastic Programming," The Review of Economics and Statistics, MIT Press, vol. 51(3), pages 239-246, August.
- Robert J. Shiller, 2007.
"Understanding recent trends in house prices and homeownership,"
Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 89-123.
- Robert J. Shiller, 2007. "Understanding Recent Trends in House Prices and Home Ownership," Cowles Foundation Discussion Papers 1630, Cowles Foundation for Research in Economics, Yale University, revised Oct 2007.
- Robert Shiller, 2007. "Understanding Recent Trends in House Prices and Home Ownership," Yale School of Management Working Papers amz2557, Yale School of Management, revised 01 Nov 2007.
- Robert J. Shiller, 2007. "Understanding Recent Trends in House Prices and Home Ownership," NBER Working Papers 13553, National Bureau of Economic Research, Inc.
- Shiller, Robert J., 2007. "Understanding Recent Trends in House Prices and Home Ownership," Working Papers 28, Yale University, Department of Economics.
- Chris Hamnett & Drew Whitelegg, 2007. "Loft Conversion and Gentrification in London: From Industrial to Postindustrial Land Use," Environment and Planning A, , vol. 39(1), pages 106-124, January.
- Linda Mcdowell & Adina Batnitzky & Sarah Dyer, 2009. "Precarious Work and Economic Migration: Emerging Immigrant Divisions of Labour in Greater London's Service Sector," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(1), pages 3-25, March.
- Heaton, John & Lucas, Deborah, 2000. "Portfolio Choice in the Presence of Background Risk," Economic Journal, Royal Economic Society, vol. 110(460), pages 1-26, January.
- Maarten Goos & Alan Manning, 2007.
"Lousy and Lovely Jobs: The Rising Polarization of Work in Britain,"
The Review of Economics and Statistics, MIT Press, vol. 89(1), pages 118-133, February.
- Maarten Goos & Alan Manning, 2003. "Lousy and Lovely Jobs: the Rising Polarization of Work in Britain," CEP Discussion Papers dp0604, Centre for Economic Performance, LSE.
- Goos, Maarten & Manning, Alan, 2003. "Lousy and lovely jobs: the rising polarization of work in Britain," LSE Research Online Documents on Economics 20002, London School of Economics and Political Science, LSE Library.
- Linda McDowell & Adina Batnitzky & Sarah Dyer, 2008. "Internationalization and the Spaces of Temporary Labour: The Global Assembly of a Local Workforce," British Journal of Industrial Relations, London School of Economics, vol. 46(4), pages 750-770, December.
- repec:use:tkiwps:044 is not listed on IDEAS
- Merton, Robert C, 1969. "Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case," The Review of Economics and Statistics, MIT Press, vol. 51(3), pages 247-257, August.
- Arrow, Kenneth J, 1986. "Rationality of Self and Others in an Economic System," The Journal of Business, University of Chicago Press, vol. 59(4), pages 385-399, October.
- Deaton, Angus, 1992. "Understanding Consumption," OUP Catalogue, Oxford University Press, number 9780198288244.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Clark Gordon L., 2022. "Agency, sentiment, and risk and uncertainty: fears of job loss in 8 European countries," ZFW – Advances in Economic Geography, De Gruyter, vol. 66(1), pages 3-17, May.
- Clark Gordon L, 2021. "The Significance of Financial Competence and Risk Tolerance in Home-Related Expenditure by Jurisdiction and Regime," ZFW – Advances in Economic Geography, De Gruyter, vol. 65(1), pages 12-27, March.
- Mesly, Olivier, 2023. "Irrational exuberance and deception — Why markets spin out of control," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
- Taufiq Choudhry, 2020. "Economic Policy Uncertainty and House Prices: Evidence from Geographical Regions of England and Wales," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 48(2), pages 504-529, June.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Guiso, Luigi & Sodini, Paolo, 2013.
"Household Finance: An Emerging Field,"
Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, volume 2, chapter 0, pages 1397-1532,
Elsevier.
- Luigi Guiso & Paolo Sodini, 2012. "Household Finance. An Emerging Field," EIEF Working Papers Series 1204, Einaudi Institute for Economics and Finance (EIEF), revised Mar 2012.
- Guiso, Luigi, 2012. "Household Finance: An Emerging Field," CEPR Discussion Papers 8934, C.E.P.R. Discussion Papers.
- Lin, Wen-chang & Lu, Jin-ray, 2012. "Risky asset allocation and consumption rule in the presence of background risk and insurance markets," Insurance: Mathematics and Economics, Elsevier, vol. 50(1), pages 150-158.
- Hui-Ju Tsai & Yangru Wu, 2015. "Optimal portfolio choice with asset return predictability and nontradable labor income," Review of Quantitative Finance and Accounting, Springer, vol. 45(1), pages 215-249, July.
- Moawia Alghalith & Xu Guo & Wing-Keung Wong & Lixing Zhu, 2016.
"A General Optimal Investment Model In The Presence Of Background Risk,"
Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 11(01), pages 1-8, March.
- Alghalith, Moawia & Guo, Xu & Wong, Wing-Keung & Zhu, Lixing, 2016. "A General Optimal Investment Model in the Presence of Background Risk," MPRA Paper 70644, University Library of Munich, Germany.
- Xu, Guo & Wing-Keung, Wong & Lixing, Zhu, 2013. "Comparisons and Characterizations of the Mean-Variance, Mean-VaR, Mean-CVaR Models for Portfolio Selection With Background Risk," MPRA Paper 51827, University Library of Munich, Germany.
- Jiang, Chonghui & Ma, Yongkai & An, Yunbi, 2010. "An analysis of portfolio selection with background risk," Journal of Banking & Finance, Elsevier, vol. 34(12), pages 3055-3060, December.
- Briec, Walter & Kerstens, Kristiaan, 2009.
"Multi-horizon Markowitz portfolio performance appraisals: A general approach,"
Omega, Elsevier, vol. 37(1), pages 50-62, February.
- K. Kerstens, 2006. "Multi-Horizon Markowitz Porfolio Performance Appraisals : A General approach," Post-Print hal-00288784, HAL.
- W. Briec & K. Kerstens, 2009. "Multi-horizon markowitz portfolio performance appraisals : a general approach," Post-Print hal-00288174, HAL.
- Zhou, Jie, 2009. "The asset location puzzle: Taxes matter," Journal of Economic Dynamics and Control, Elsevier, vol. 33(4), pages 955-969, April.
- Nobili, Andrea & Zollino, Francesco, 2017.
"A structural model for the housing and credit market in Italy,"
Journal of Housing Economics, Elsevier, vol. 36(C), pages 73-87.
- Andrea Nobili & Francesco Zollino, 2012. "A structural model for the housing and credit markets in Italy," Temi di discussione (Economic working papers) 887, Bank of Italy, Economic Research and International Relations Area.
- John Y. Campbell & Yeung Lewis Chanb & M. Viceira, 2013.
"A multivariate model of strategic asset allocation,"
World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part II, chapter 39, pages 809-848,
World Scientific Publishing Co. Pte. Ltd..
- Campbell, John Y. & Chan, Yeung Lewis & Viceira, Luis M., 2003. "A multivariate model of strategic asset allocation," Journal of Financial Economics, Elsevier, vol. 67(1), pages 41-80, January.
- John Y. Campbell & Yeung Lewis Chan & Luis M. Viceira, 2001. "A Multivariate Model of Strategic Asset Allocation," NBER Working Papers 8566, National Bureau of Economic Research, Inc.
- Campbell, John Y & Viceira, Luis & Chan, Yeung Lewis, 2001. "A Multivariate Model of Strategic Asset Allocation," CEPR Discussion Papers 3070, C.E.P.R. Discussion Papers.
- Chan, Yeung Lewis & Viceira, Luis & Campbell, John, 2003. "A Multivariate Model of Strategic Asset Allocation," Scholarly Articles 3163263, Harvard University Department of Economics.
- Chen, Jia & Li, Degui & Linton, Oliver & Lu, Zudi, 2016.
"Semiparametric dynamic portfolio choice with multiple conditioning variables,"
Journal of Econometrics, Elsevier, vol. 194(2), pages 309-318.
- Jia Chen & Degui Li & Oliver Linton & Zudi Lu, 2015. "Semiparametric dynamic portfolio choice with multiple conditioning variables," CeMMAP working papers CWP07/15, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Jia Chen & Degui Li & Oliver Linton & Zudi Lu, 2015. "Semiparametric Dynamic Portfolio Choice with Multiple Conditioning Variables," Discussion Papers 15/01, Department of Economics, University of York.
- Jia Chen & Degui Li & Oliver Linton & Zudi Lu, 2015. "Semiparametric dynamic portfolio choice with multiple conditioning variables," CeMMAP working papers 07/15, Institute for Fiscal Studies.
- Nicolas Aubert & Thomas Rapp, 2008.
"Les salariés actionnaires:pourquoi investissent-ils dans leur entreprise?,"
Revue Finance Contrôle Stratégie, revues.org, vol. 11(4), pages 87-110, December.
- Nicolas Aubert & Thomas Rapp, 2008. "Les Salariés Actionnaires : Pourquoi Investissent-ils dans leur Entreprise ?," Post-Print halshs-00454019, HAL.
- Dimitrios Gounopoulos & Andreas G. Merikas & Anna A. Merika & Anna Triantafyllou, 2012. "Explaining house price changes in Greece," Applied Financial Economics, Taylor & Francis Journals, vol. 22(7), pages 549-561, April.
- Paul Willen & Felix Kubler, 2006.
"Collateralized Borrowing And Life-Cycle Portfolio Choice,"
2006 Meeting Papers
578, Society for Economic Dynamics.
- Paul Willen & Felix Kubler, 2006. "Collateralized Borrowing and Life-Cycle Portfolio Choice," NBER Working Papers 12309, National Bureau of Economic Research, Inc.
- Felix Kubler & Paul S. Willen, 2006. "Collateralized borrowing and life-cycle portfolio choice," Public Policy Discussion Paper 06-4, Federal Reserve Bank of Boston.
- Zhang, Linwan & Wu, Weixing & Wei, Ying & Pan, Rulu, 2015. "Stock holdings over the life cycle: Who hesitates to join the market?," Economic Systems, Elsevier, vol. 39(3), pages 423-438.
- Li, Zhongfei & Yao, Jing & Li, Duan, 2010. "Behavior patterns of investment strategies under Roy's safety-first principle," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(2), pages 167-179, May.
- Benjamin M. Friedman, 1980. "The Effect of Shifting Wealth Ownership on the Term Structure of Interest Rates," NBER Working Papers 0239, National Bureau of Economic Research, Inc.
- Christine Kaufmann & Martin Weber & Emily Haisley, 2013. "The Role of Experience Sampling and Graphical Displays on One's Investment Risk Appetite," Management Science, INFORMS, vol. 59(2), pages 323-340, July.
- Luigi Guiso & Michael Haliassos & Tullio Jappelli, 2003.
"Household stockholding in Europe: where do we stand and where do we go? [‘Limited market participation and volatility of assets prices’],"
Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 18(36), pages 123-170.
- Luigi Guiso & Michael Haliassos & Tullio Jappelli, 2002. "Household Stockholding in Europe: Where Do We Stand and Where Do We Go?," CSEF Working Papers 88, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Luigi Guiso & Michael Haliassos & Tullio Jappelli, 2002. "Household Stockholding in Europe: Where Do We Stand and Where Do We Go?," University of Cyprus Working Papers in Economics 0209, University of Cyprus Department of Economics.
- Guiso, Luigi & Jappelli, Tullio & Haliassos, Michael, 2003. "Household Stockholding in Europe: Where Do We Stand, and Where Do We Go?," CEPR Discussion Papers 3694, C.E.P.R. Discussion Papers.
- Bilel Jarraya & Abdelfettah Bouri, 2013.
"A Theoretical Assessment on Optimal Asset Allocations in Insurance Industry,"
International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 2(4), pages 30-44, October.
- Jarraya, Bilel & Bouri, Abdelfettah, 2013. "A Theoretical Assessment on Optimal Asset Allocations in Insurance Industry," MPRA Paper 53534, University Library of Munich, Germany, revised 2013.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:jecgeo:v:10:y:2010:i:3:p:331-359. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/joeg .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.