Household Portfolios in the Netherlands

Working Paper No. 2000-55

67 Pages Posted: 25 Jan 2001

See all articles by Rob Alessie

Rob Alessie

Utrecht University - School of Economics; VU University Amsterdam - Department of Economics

Stefan Hochguertel

VU University Amsterdam; Tinbergen Institute - Tinbergen Institute Amsterdam (TIA)

Arthur van Soest

Tilburg University; Netspar; RAND Corporation; Institute for the Study of Labor (IZA)

Date Written: May 2000

Abstract

We describe and analyse the portfolio structure of Dutch households using micro panel data from the CentER Savings Survey, 1993-1998. The data allows for a distinction between many types of assets. Moreover, we have information on mortgage debt, consumer debt, etc. We analyse the composition of household portfolios and the level of portfolio diversification, and its relation to age, birth cohort, and education level. We compare the ownership rates and amounts held in our survey data with published statistics derived from National Accounts and administrative data. Using discrete choice models and selection models, we relate asset ownership and asset shares to background variables such as age, household composition, education, etc. Moreover, we include subjectively measured explanatory variables reflecting attitudes towards risk and the degree of information the respondent has on financial assets. We consider static as well as dynamic panel data models.

Keywords: Portfolio choice, panel data

JEL Classification: D91

Suggested Citation

Alessie, R.J.M. (Rob) and Hochguertel, Stefan and van Soest, Arthur H. O., Household Portfolios in the Netherlands (May 2000). Working Paper No. 2000-55. Available at SSRN: https://ssrn.com/abstract=246964 or http://dx.doi.org/10.2139/ssrn.246964

R.J.M. (Rob) Alessie (Contact Author)

Utrecht University - School of Economics ( email )

Kriekenpitplein 21-22
Adam Smith Building
Utrecht, 3584 EC
Netherlands
31 30 253 9814 (Phone)
31 30 253 7373 (Fax)

HOME PAGE: http://www2.econ.uu.nl/users/alessie/

VU University Amsterdam - Department of Economics ( email )

De Boelelaan 1105
1081 HV Amsterdam
Netherlands
+31 20 444 6047 (Phone)
+31 20 444 6005 (Fax)

Stefan Hochguertel

VU University Amsterdam ( email )

Dept Econ (FEWEB)
De Boelelaan 1105
1081HV Amsterdam
Netherlands
+31 20 59 86033 (Phone)
+31 20 59 89870 (Fax)

Tinbergen Institute - Tinbergen Institute Amsterdam (TIA)

Gustav Mahlerplein 117
Amsterdam, 1082 MS
Netherlands

Arthur H. O. van Soest

Tilburg University ( email )

P.O. Box 90153
Tilburg, DC 5000 LE
Netherlands

Netspar

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

RAND Corporation ( email )

P.O. Box 2138
1776 Main Street
Santa Monica, CA 90407-2138
United States

Institute for the Study of Labor (IZA)

P.O. Box 7240
Bonn, D-53072
Germany

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