Are High Income Individuals Better Stock Market Investors? / Martin Feldstein, Shlomo Yitzhaki.

By:

Feldstein, Martin

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w0948.Publication details: Cambridge, Mass. National Bureau of Economic Research 1982.Description: 1 online resource: illustrations (black and white)Subject(s):

E - Macroeconomics and Monetary Economics

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Abstract: This paper presents evidence that the corporate stock owned by high income investors appreciates substantially faster than the stock owned by investors with lower incomes. Those with very high incomes enjoy the greatest success on their investments while those with incomes under $20,000 have the least success. The evidence indicates that the differences are large and that they have persisted for a long time.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w0948 (Browse shelf(Opens below))	Not For Loan

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Previous	nber w0945 Bubbles, Rational Expectations and Financial Markets /	nber w0946 Cost Implications of Hospital Unionization: A Behavioral Analysis /	nber w0947 Domestic Saving and International Capital Movements in the Long Run and the Short Run /	nber w0948 Are High Income Individuals Better Stock Market Investors? /	nber w0949 A Synthesis of Keynesian, Monetary, and Portfolio Approaches to FlexibleExchange Rates /	nber w0950 General Equilibrium and Business Cycles /	nber w0951 Tax Effects on the Allocation of Capital Among Sectors and Among Individuals: A Portfolio Approach /	Next

July 1982.

This paper presents evidence that the corporate stock owned by high income investors appreciates substantially faster than the stock owned by investors with lower incomes. Those with very high incomes enjoy the greatest success on their investments while those with incomes under $20,000 have the least success. The evidence indicates that the differences are large and that they have persisted for a long time.