Habit Formation and Persistence in Individual Asset Portfolio Holdings : The Case of Italy.
- 1st ed.
- 1 online resource (44 pages)
- IMF Working Papers .
- IMF Working Papers .
Intro -- Contents -- I. Introduction -- II. Habit Formation in Household Portfolios -- III. The Model: Multiperiod Multinomial Probit with Autocorrelated Errors and Unobserved Heterogeneity -- IV. Empirical Results -- V. Conclusion -- Appendix: Data and Statistics -- References.