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Hohe Risikoaversion privater Haushalte bei Geldanlagen
Barasinska, Nataliya; Schäfer, Dorothea; Stephan, Andreas - In: DIW Wochenbericht 75 (2008) 45, pp. 704-710
Investitionsentscheidungen. Die Mehrzahl der Haushalte in Deutschland streut auch ihr Geldvermögen über mehrere Anlageformen. Ihr Anlageverhalten …
Persistent link: https://www.econbiz.de/10011601910
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Financial risk aversion and household asset diversification
Barasinska, Nataliya; Schäfer, Dorothea; Stephan, Andreas - 2008
This paper explores the relationship between risk attitude and asset diversification in household portfolios. We first … theory is compatible with observed diversification patterns. Based on the German Socioeconomic Panel which provides unique … socioeconomic characteristics, the propensity for taking investment risk is an important predictor of a household's diversification …
Persistent link: https://www.econbiz.de/10010291769
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Stockholding: From participation to location and to participation spillovers
Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - 2009
This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes … through retirement accounts only. Household characteristics influence stockholding through retirement accounts conditional on …
Persistent link: https://www.econbiz.de/10010303708
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Household economic decisions under the shadow of terrorism
Christelis, Dimitris; Georgarakos, Dimitris - 2009
We investigate, using the 2002 US Health and Retirement Study, the factors influencing individuals' insecurity and expectations about terrorism, and study the effects these last have on households' portfolio choices and spending patterns. We find that females, the religiously devout, those...
Persistent link: https://www.econbiz.de/10010303743
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Investing at home and abroad: Different costs, different people
Christelis, Dimitris; Georgarakos, Dimitris - 2009
We investigate US households' direct investment in stocks, bonds and liquid accounts and their foreign counterparts, in order to identify the different participation hurdles affecting asset investment domestically and overseas. To this end, we estimate a trivariate probit model with three...
Persistent link: https://www.econbiz.de/10010303748
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Saving rates and portfolio choice with subsistence consumption
Achury, Carolina; Hubar, Sylwia; Koulovatianos, Christos - 2011
We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining: (i) the higher saving rates of the rich, (ii) the...
Persistent link: https://www.econbiz.de/10010308579
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Do Privatizations Boost Household Shareholding? Evidence from Italy
Di Carluccio, Adolfo; Ferri, Giovanni; Frale, Cecilia; … - 2004
It is believed that privatizations substantially contributed to boost stock markets through the 1980s and 1990s. However, trough which channels did that materialize? We test whether privatizations -improving households' acquaintance with the risk and return characteristics of stocks through the...
Persistent link: https://www.econbiz.de/10011324880
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Banks information policies, financial literacy and household wealth
Fort, Margherita; Manaresi, Francesco; Trucchi, Serena - 2012
household financial assets. Our results suggest that banks information policies have the potential to be an effective tool to …
Persistent link: https://www.econbiz.de/10010289931
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The impact of individual investment behavior for retirement welfare: evidence from the United States and Germany
Post, Thomas; Gründl, Helmut; Schmit, Joan; Zimmer, Anja - 2008
Much of the industrialized world is undergoing a significant demographic shift, placing strain on public pension systems. Policymakers are responding with pension system reforms that put more weight on privately managed retirement funds. One concern with these changes is the effect on individual...
Persistent link: https://www.econbiz.de/10010263734
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Tax incentives, bequest motives, and the demand for life insurance: Evidence from two natural experiments in Germany
Sauter, Nicolas; Walliser, Jan; Winter, Joachim - 2010
Whole life insurance plays an important role in household saving. However, empirical evidence on its determinants is …
Persistent link: https://www.econbiz.de/10010270489