Canadian Consumption and Portfolio Shares

Détails

ID Serval
serval:BIB_E32D6A4D897E
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Titre
Canadian Consumption and Portfolio Shares
Périodique
Canadian Journal of Economics / Revue Canadienne d'Économique
Auteur⸱e⸱s
Normandin M., St-Amour P.
ISSN
0008-4085
Statut éditorial
Publié
Date de publication
11/2002
Peer-reviewed
Oui
Volume
35
Numéro
4
Pages
737-756
Langue
anglais
Résumé
In this paper we gauge consumption and portfolio shares, rather than the traditional pricing implications. We study both aggregated (financial, tangible, and human) and disaggregated (deposits, stocks, insurance, and pensions) assets. The empirical shares are computed from recent aggregate Canadian data. The theoretical shares are constructed from a flexible specification of both investors' preferences and investment opportunities. Our results reveal that the theoretical shares statistically match observed consumption and aggregated assets, but not disaggregated assets. Also, our findings for corporate stocks are consistent With the empirical asset returns literature. Finally, our findings for other assets highlight several new striking features.
Web of science
Création de la notice
29/01/2009 17:00
Dernière modification de la notice
20/08/2019 17:07
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