MARC Record from Library of Congress

LEADER: 02218nam a22003017a 4500
001 2011655664
003 DLC
005 20110308133618.0
007 cr |||||||||||
008 110308s2010 mau sb 000 0 eng
010 $a 2011655664
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aHurd, Michael D.
245 10 $aStock market expectations of Dutch households$h[electronic resource] /$cMichael D. Hurd, Maarten van Rooij, Joachim Winter.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2010.
490 1 $aNBER working paper series ;$vworking paper 16464
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 3/8/2011.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"The NBER Bulletin on Aging and Health provides summaries of publications like this. You can sign up to receive the NBER Bulletin on Aging and Health by email. Despite its importance for the analysis of life-cycle behavior, stock ownership by households is poorly understood. Among other approaches to the investigation of this puzzle, recent research has elicited the expectations of stock market returns by individuals. This paper reports findings from a study that collected data over a two-year period both on stock market expectations (subjective probabilities of gains or losses) and on stock ownership. On average stock market expectations are much more pessimistic about gains than the historical record of actual gains. Expectations are heterogeneous, and they are correlated with stock ownership. Over the two years of our data, stock market prices increased, and expectations of future stock market price changes also increased, lending support to the view that expectations are influenced by recent stock gains or losses"--National Bureau of Economic Research web site.
700 1 $aRooij, Maarten van.
700 1 $aWinter, Joachim.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 16464.
856 40 $uhttp://www.nber.org/papers/w16464