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| Content Provider | Springer Nature Link |
|---|---|
| Author | West, Tracey Worthington, Andrew C. |
| Copyright Year | 2013 |
| Abstract | This paper employed panel data from the 2001–2010 waves of the Household, Income, and Labor Dynamics in Australia (HILDA) survey to investigate the financial risk attitudes of 10,000 individuals across 6,839 households. Ordered logit models including individual and household random effects tested for changes in risk tolerance while focusing on the impact of transitory macroeconomic conditions and controlling for individual demographic and socioeconomic characteristics. We found Australians generally reduced their tolerance for risk over time, though higher levels of education, wealth, good health, and being self-employed indicated the increased likelihood of risk tolerance. We also found macroeconomic conditions were jointly significant in determining financial risk attitudes. However, the innate demographic and socioeconomic characteristics of individuals were more important at the margin. |
| Starting Page | 263 |
| Ending Page | 277 |
| Page Count | 15 |
| File Format | |
| ISSN | 10580476 |
| Journal | Journal of Family and Economic Issues |
| Volume Number | 35 |
| Issue Number | 2 |
| e-ISSN | 15733475 |
| Language | English |
| Publisher | Springer US |
| Publisher Date | 2013-06-13 |
| Publisher Place | Boston |
| Access Restriction | One Nation One Subscription (ONOS) |
| Subject Keyword | Risk attitudes Risk aversion Household, Income and Labor Dynamics in Australia (HILDA) survey Ordered logit Sociology Social Sciences Personality and Social Psychology Social Policy |
| Content Type | Text |
| Resource Type | Article |
| Subject | Economics and Econometrics Social Psychology |
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