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How do households allocate their assets? : stylized facts from the eurosystem household finance and consumption survey
Arrondel, Luc; Bartiloro, Laura; Fessler, Primin; … - 2014
Using the Household Finance and Consumption Survey (HFCS), a large micro-level dataset on households’ wealth in fifteen … participation as well as levels of asset holdings and investigate the systematic relationships between household characteristics and …
Persistent link: https://www.econbiz.de/10010384151
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The standard portfolio choice problem in Germany
Breunig, Christoph; Huck, Steffen; Schmidt, Tobias; … - 2019
We study an investment experiment with a representative sample of German households. Respondents invest in a safe asset and a risky asset whose return is tied to the German stock market. Experimental investments correlate with beliefs about stock market returns and exhibit desirable external...
Persistent link: https://www.econbiz.de/10012064672
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Fearless woman : financial literacy and stock market participation
Bucher-Koenen, Tabea; Alessie, Rob; Lusardi, Annamaria; … - 2021 - This version: 2.3.2021
Women are less financially literate than men. It is unclear whether this gap reflects a lack of knowledge or, rather, a lack of confidence. Our survey experiment shows that women tend to disproportionately respond “do not know” to questions measuring financial knowledge, but when this...
Persistent link: https://www.econbiz.de/10012431925
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Financial literacy, stock market participation, and financial well-being in Germany
Bucher-Koenen, Tabea; Janssen, Bennet; Knebel, Caroline; … - 2023
Household Finances collected in 2021, we show that about 62% of German households answer the Big Three financial literacy …
Persistent link: https://www.econbiz.de/10014504767
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Socioeconomic status and individual investors' behavior during a financial crisis
Galil, Koresh; Spivak, Avia; Aviad, Tur Sinai - 2023
Persistent link: https://www.econbiz.de/10014486888
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Households' financial resilience, risk perceptions, and financial literacy : evidence from a survey experiment
Bucher-Koenen, Tabea; Fessler, Pirmin; Silgoner, Maria … - 2023 - This version: 21 December 2023
future events on households’ financial situation. Households are asked to assess specific risks for their own household … (treatment) or for a household with similar characteristics (control). On average, households assign a lower probability to … shocks that negatively affect personal finances if asked for their own household compared to a similar household. We do not …
Persistent link: https://www.econbiz.de/10014473206
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Herding of institutional traders : new evidence from daily data
Kremer, Stephanie - 2010
This paper sheds new light on herding of institutional investors by using a unique database that identifies every transaction made by financial institutions in the German stock market. First, the analysis reveals that herding behavior of institutions occurs daily. Second, replication of the...
Persistent link: https://www.econbiz.de/10008665444
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The relevance or otherwise of the central bank’s balance sheet
Miles, David; Schanz, Jochen - 2014
This paper explores the impacts on an economy of a central bank changing the size and composition of its balance sheet. One of the ways in which such asset purchases could influence prices and demand is via portfolio balance effects. We develop and calibrate a simple OLG model in which...
Persistent link: https://www.econbiz.de/10010243977
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Who trades on momentum?
Baltzer, Markus; Jank, Stephan; Smajlbegovic, Esad - 2014
Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...
Persistent link: https://www.econbiz.de/10010471006
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The standard portfolio choice problem in Germany
Huck, Steffen; Schmidt, Tobias; Weizsäcker, Georg - 2014
We study an investment experiment conducted with a representative sample of German households. Respondents invest in a safe asset and a risky asset whose return is tied to the German stock market. Experimental investments correlate with beliefs about stock market returns and exhibit desirable...
Persistent link: https://www.econbiz.de/10010413601