Research

Working Papers

Identifying the Benefits from Home Ownership: A Swedish Experiment
(with Paolo Sodini, Stijn Van Nieuwerburgh, and Ulf von Lilienfeld-Toal)
Revise & Resubmit, American Economic Review.

The Role of Cognitive and Non-cognitive Skills for Investment Behavior
(with Erik Lindqvist and Fredrik Paues)

The Housing Wealth Effect: Quasi-Experimental Evidence
(with Dany Kessel and Björn Tyrefors)
Swedish House of Finance Research Paper No. 19-5, Sveriges Riksbank Working Paper No. 361, IFN Working Paper No. 1262

Swedish Equity Mutual Funds 1993-2013: Performance, Persistence and Presence of Skill
(with Harry Flam). Version dated March 2017.

Peer-reviewed articles

Attitudes toward Debt and Debt Behavior, Scandinavian Journal of Economics, 123(3), 780-809, 2021 (with Johan Almenberg, Anna-Maria Lusardi and Jenny Säve-Söderberg). Latest working paper version is CEPR Discussion Paper No. 14801 (May 2020). Previous version is NBER Working Paper No. 24935. VOX column based on previous draft.

Household Debt and Monetary Policy: Revealing the Cash-Flow Channel, Economic Journal, Volume 131, Issue 636, Pages 1742–1771, May 2021 (with Martin Flodén, Matilda Kilström, and Jósef Sigurdsson). Slides.

Limited Stock Market Participation Among Renters and Homeowners
Review of Financial Studies, 32(4), 1494–1535, 2019.

On the Asset Allocation of a Default Pension Fund
(with Magnus Dahlquist and Ofer Setty), Journal of Finance, 73(4), 1893-1936, 2018.
Slides: English, Swedish. Text in AP7’s annual report (Swedish).

Are Mutual Fund Managers Paid For Investment Skill?
(with Markus Ibert, Ron Kaniel, and Stijn Van Nieuwerburgh), Review of Financial Studies, 31(2), 715-772, 2018.
Slides. VOX column. Reuters column.

Risk taking, Behavioral Biases, and Genes: Results from 149 Active Investors
(with Anders Anderson and Anna Dreber Almenberg), Journal of Behavioral and Experimental Finance, 93-100, June 2015.

The Labor Market Returns to Cognitive and Noncognitive Ability: Evidence from the Swedish Enlistment
(with Erik Lindqvist), American Economic Journal: Applied Economics, 3(1), 101-128, 2011.

Book chapters

Judging the Quality of Survey Data by Comparison with “Truth” as Measured By Administrative Records: Evidence from Sweden
(with Ralph Koijen and Stijn Van Nieuwerburgh) Chapter 11 in the NBER Book “Improving the Measurement of Consumer Expenditures”, edited by Christopher Carroll, Thomas Crossley and John Sabelhaus. NBER Book Series Studies in Income and Wealth, University of Chicago Press, 2015.