How Children with Mental Disabilities Affect Household Investment Decisions
Vicki L. Bogan, Jose M. Fernandez
American Economic Review · 2017 · Volume 107 · Issue 5
Abstract
We analyze how children with mental disabilities influence parental portfolio allocation. We find that risky asset holding decreases among households with special needs children. However, conditional on participating in financial markets, households with special needs children invest a larger portion of their wealth in risky assets. As risky asset holding is a key component of wealth building, these findings have important implications for both policy and household wealth inequality.
Keywords
Household Production and Intrahousehold Allocation, Household Saving, Personal Finance, Health Behavior, Fertility, Family Planning, Child Care, Children, Youth, Economics of the Elderly, Economics of the Handicapped, Non-Labor Market Discrimination
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