Archive: Pierluigi Balduzzi
![Senior couple and tecnologies](https://crr.bc.edu/wp-content/uploads/2022/11/financing_retirement_2-1536x1024.jpg)
Abstract We examine equity portfolio choices of a panel of over four thousand 401(k) investors during the April 1994-August 1998 period. In the majority of participant/year observations all the equity funds available are held; hence, it appears that most participants take full advantage of the diversification opportunities within the plan. Older investors hold more U.S…
![Their finances are in the green](https://crr.bc.edu/wp-content/uploads/2022/11/social_security_3-1536x1025.jpg)
Abstract This paper examines portfolio choice, trading behavior, and realized rates of return following a panel of nearly seven thousand 401(k) retirement accounts during the April 1994-August 1998 time period. The distribution of equity allocations in the panel is strongly bi-modal: 48% of the average annual equity allocations in the panel are zero, while 22%…