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

Arthur van Soest

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

Date Written: May 2000


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. and van Soest, Arthur H. O., Household Portfolios in the Netherlands (May 2000). Working Paper No. 2000-55, Available at SSRN: or

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

Utrecht University - School of Economics ( email )

Kriekenpitplein 21-22
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VU University Amsterdam - Department of Economics ( email )

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+31 20 444 6005 (Fax)

Stefan Hochguertel

VU University Amsterdam ( email )

Dept Econ (FEWEB)
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+31 20 59 89870 (Fax)

Tinbergen Institute

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Arthur H. O. van Soest

Tilburg University ( email )

P.O. Box 90153
Tilburg, DC Noord-Brabant 5000 LE


P.O. Box 90153
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RAND Corporation ( email )

P.O. Box 2138
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United States

Institute for the Study of Labor (IZA)

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