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Formative Experiences and Portfolio Choice: Evidence from the Finnish Great Depression
(Wiley, 2017)
We trace the impact of formative experiences on portfolio choice. Plausibly exogenous variation in workers’ exposure to a depression allows us to identify the effects and a new estimation approach makes addressing wealth ...
Social Interaction in the Family: Evidence from Investors’ Security Holdings
(Oxford University Press, 2022-09-10)
We show that investors tend to hold the same securities as their parents. This intergenerational correlation is stronger for mothers and family members who are more likely to communicate with each other. An instrumental ...