International Comparative Household Finance
This paper reviews the literature on international comparative household finance. The paper presents summary statistics on household balance sheets for 13 developed countries, and uses these statistics to discuss common features and contrasts across countries. The paper then discusses retirement savings, investments in risky assets, unsecured debt, and mortgages.
Forthcoming in the Annual Review of Economics DOI 10.1146/annurev-economics-080315-015425. We thank Tim Bresnahan, Laurent Calvet, Andreas Fuster, Matti Keloharju, Karen Pence, James Vickery, Paolo Sodini and Jonathan Zinman for many useful comments, and the Sloan Foundation for financial support. We are grateful to Vimal Balasubramaniam, Daniel Fang, Wen Zhe Lim, Pranath Sisodiya, and Kevin Wang for able and dedicated research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
John Y. Campbell
Cristian Badarinza & John Y. Campbell & Tarun Ramadorai, 2016. "International Comparative Household Finance," Annual Review of Economics, vol 8(1), pages 111-144. citation courtesy of