TY  - RPRT
        AU  - Mariotti, Francesco
AU  - Mumford, Karen A.
AU  - Pena-Boquete, Yolanda
        TI  - Household Asset Holding Diversification in Australia
        PY  - 2014/Jul/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 8302
        UR  - https://www.iza.org/publications/dp8302
        AB  - We explore asset holding diversification by Australian households, in particular, the household asset diversification participation decision (whether or not to diversify at all) is jointly estimated with the decision of how much to diversify. In so doing, recent literature on the modelling of proportions is combined with the growing body of research concerning household financial decision making. Our findings are consistent with the participation of households operating in diverse financial markets being constrained by ineffective information conduits, influencing the decision of whether or not to diversify. We further find that short term concerns over job security or health are associated with less participation in, as well as a lower extent of, asset holding diversification.
        KW  - Zero-Inflated Beta
KW  - job insecurity
KW  - asset allocation
KW  - asset diversification
KW  - household finance
KW  - employment
        ER  -