The reading group serves as a forum for PhD students interested in Household Finance. We read and discuss both fundamental and recent papers in the field, both theoretical and empirical. Students can also present their own work, both to get feedback and to practice presenting it.
If you have questions or would like to join, please get in touch with Kathrin Schlafmann (ksc.fi@cbs.dk)
General
Overview with list of papers (preliminary)
Presentation Rules - please read before you prepare your presentation
Calendar
Meetings take place on Wednesdays, 13:30-16:00, in SP.D4 (Augustinus Fonden) unless otherwise stated
Fall 2025
September 24:
Introduction to "Pensions and Retirement Savings" (Kathrin, slides)
Chetty / Friedman / Leth-Petersen / Nielsen / Olsen (2014): "Active vs. passive decisions and crowd-out in retirement savings accounts: Evidence from Denmark" (Jacob Østdal)
October 1:
Miguel Sousa Duarte: own work
Choukhmane (2025): "Default Options and Retirement Saving Dynamics" (Clara Egehoved Tørsløv)
Choukhmane / Colmenares / O'Dea / Rothbaum / Schmidt (2025): "Who Benefits from Retirement Saving Incentives in the U.S.? Evidence on Gaps in Retirement Wealth Accumulation by Race and Parental Income" (Christina Petersen)
October 22:
Clara Egehoved Tørsløv: own work
Mads Rahbek Jørgensen: own work
Schlafmann / Setty / Vestman (2025): "Designing Pension Plans According to Consumption-Savings Theory" (Miguel Sousa Duarte)
November 19:
Introduction to "Financial Literacy" (Kathrin)
Lusardi / Michaud / Mitchell (2017): "Optimal Financial Knowledge and Wealth Inequality" (Patrick Natarajan Larsen)
December 3, (different time and location: 14:30-16:00 in SP D4.20):
van Rooij / Lusardi / Alessie (2011): "Financial literacy ans stock market participation" (Edoardo Maira)
Haliassos / Jansson / Karabulut (2019): "Financial Literacy Externalities" (Ida Maria Hartmann)
December 10 (different location: SP D4.20):
Grinblatt / Keloharju / Linnainmaa (2011): "IQ and Stock Market Participation" (Maria Victoria Olesen)
Parise / Pejnenburg (2019): "Noncognitive Abilities and Financial Distress: Evidence from a Representative Household Panel" (Elin Calmsjö)
Previous semesters
Spring 2025
February 26:
Introduction to "Savings and Portfolio Choice over the Life-Cycle" (Kathrin) (slides)
March 12 (14:00-16:00):
Christina Petersen: own work
Introduction to "Savings and Portfolio Choice over the Life-Cycle" cont'd (Kathrin)
March 26:
Cocco / Gomes / Maenhout (RFS 2005): "Consumption and Portfolio Choice over the Life Cycle" (slides)
Calvet / Sodini (JF 2014): "Twin picks: Disentangling the determinants of risk-taking in household portfolios" (Johanna Sophie Jost, slides)
Gomes / Michaelides (JF 2005): "Optimal life-cycle asset allocation: Understanding the empirical evidence." (Christina Petersen, slides)
April 9:
Ilisa Goenka: own work
Briggs / Cesarini / Lindqvist / Östling (JFE 2021): "Windfall Gains and Stock Market Participation" (David Westerheide, slides)
Adib / Andersen / Nielsen / Raja (2025): "Time Out for Trading" (Sarah Plaugmann Gramkow, slides)
April 30:
Jacob Rødgaard Østdal: own work
Guiso / Sapienza / Zingales (JF 2008): "Trusting the stock market" (Mikkel Büchler Henriksen, slides)
Malmendier / Nagel (QJE 2011): "Depression babies: Do macroeconomic experiences affect risk taking?" (Ida Maria Hartmann, slides)
May 14:
Elin Colmsjö: own work
Gomes / Smirnova (2023): "Stock market participation and portfolio shares over the life-cycle" (Paul Hax, slides)
Choukhmane / de Silva (2024): "What drives investors’ portfolio choices? Separating risk preferences from frictions" (Jens Brøndum Petersen, slides)
May 28:
Ida Maria Hartmann: "How Peers' Unemployment affect Subjective Unemployment Expectations" (own work)
Fagereng / Gottlieb / Guiso (JF 2017): "Asset market participation and portfolio choice over the life-cycle" (Mads Jørgensen, slides)
Bonaparte / Korniotis / Kumar / Michaelides /Zhang (MS forthcoming): "Stock market ownership transitions" (Maria Victoria Olesen, slides)
June 18:
Catherine (RFS 2021): "Countercyclical labor income risk and portfolio choices over the life cycle" (Jacob Røpke, slides)
Galvez / Paz Pardo (2023): "Richer earnings dynamics, consumption and portfolio choice over the life cycle" (Mads Francke Anker)