Stockholding behavior of U.S. households: evidence from the 1983-1989 Survey of Consumer Finances

Article Abstract:

Data obtained from the 1983-1989 Survey of Consumer Finance showed that factors such as risk aversion, education and wealth affect the entry of American households in stock investment. The survey revealed that nonstockholder households with lower risk aversion, higher education and greater fortune have greater chance of becoming stockholders by 1989. On the other hand, nonstockholder households with higher risk aversion, lower education and more restricted wealth have lower chance of sustaining their position by 1989.

Stockholders, Portfolio management, Surveys, Consumers

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Indicator properties of the paper-bill spread: lessons from recent experience

Article Abstract:

The 1990-1991 economic recession, unlike other postwar economic depressions, was not preceeded by the widening of spread between commercial paper and Treasury bills' interest rates. Such incidence occurred mainly because the 1990-1991 recession was not induced by strict monetary policy. Also, the occurrence of spread prior to the 1990-1991 recession can be greatly attributed to quantity changes in commercial paper, bank CDs and Treasury bills that are not associated with business cycle.

Economic aspects, Interest rates, Recessions, Business cycles

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Earnings expectations, revisions, and realizations

Article Abstract:

Result of a national household survey conducted during the spring and the fall of 1993 was used to assess the relationship between earnings expectations, revisions and earnings realization. The survey revealed a close relationship between earnings expectations and subsequent earnings realization. Such relationship also exists with regards to revisions of expectations and changes in realized earnings.

Wages, Wages and salaries, Home economics research, Household surveys

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