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
In this project, we plan to document a set of new facts about the income risk that Dutch households are exposed to and to study its effects on their portfolio choice and savings behavior. We focus in particular on the heterogeneous exposure to aggregate conditions of household income. We call this systematic income risk (or worker beta). We document how systematic income risk varies across age groups, gender, recent earnings and occupation. Next, we study how systematic income risk is related to household portfolio choice, and how it affects the riskiness and liquidity of household portfolios.
