M
Monica Paiella
Researcher at University of Naples Federico II
Publications - 34
Citations - 2660
Monica Paiella is an academic researcher from University of Naples Federico II. The author has contributed to research in topics: Consumption (economics) & Risk aversion. The author has an hindex of 18, co-authored 33 publications receiving 2492 citations.
Papers
More filters
Journal ArticleDOI
Risk aversion, wealth, and background risk
Luigi Guiso,Monica Paiella +1 more
TL;DR: In this paper, the authors use household survey data to construct a direct measure of absolute risk aversion based on the maximum price a consumer is willing to pay for a risky security, and relate this measure to consumer's endowments and attributes.
Journal ArticleDOI
Relative risk aversion is constant: evidence from panel data
TL;DR: In this article, the authors used panel data to analyze how individuals' portfolio allocation between risky and riskless assets varies in response to changes in total financial wealth, and they found the elasticity of the risky asset share to wealth to be small and statistically insignificant, supporting the CRRA assumption.
Journal ArticleDOI
Does wealth affect consumption? Evidence for Italy
TL;DR: In this paper, the authors analyzed the dynamics of Italian households' net worth over the 1990s and assessed the strength of the wealth effects on consumption, using as a benchmark the United States.
Posted Content
The Role of Risk Aversion in Predicting Individual Behaviors
Luigi Guiso,Monica Paiella +1 more
TL;DR: The authors used household survey data to construct a direct measure of absolute risk aversion based on the maximum price a consumer is willing to pay to buy a risky asset and relate this measure to a set of consumers' decisions that in theory should vary with attitude towards risk.
Journal ArticleDOI
The Forgone Gains of Incomplete Portfolios
TL;DR: In this article, a test for the cost-based explanation of non-participation in financial markets is proposed, based on estimating a lower bound to the forgone gains of incomplete portfolios.