Details
| Original language | English |
|---|---|
| Pages (from-to) | 25-27 |
| Number of pages | 3 |
| Journal | Journal of Behavioral and Experimental Finance |
| Volume | 13 |
| Publication status | Published - 16 Feb 2017 |
Abstract
We study how macroeconomic growth experienced throughout a person's lifetime affects the decision to participate in the stock market, and how this interacts with political education. For people who have been raised in the market economy of the Federal Republic of Germany, we find that macroeconomic growth experienced throughout the lifetime predicts the likelihood of holding stocks and recent experiences have a higher impact. These findings do not extend to people who have been raised under the communistic regime of the former German Democratic Republic and thus have experienced a market economy only since the German reunification in 1989.
Keywords
- Behavioral finance, Household finance, Portfolio choice
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)
- Finance
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In: Journal of Behavioral and Experimental Finance, Vol. 13, 16.02.2017, p. 25-27.
Research output: Contribution to journal › Article › Research › peer review
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TY - JOUR
T1 - About depression babies and red diaper babies
T2 - Do macroeconomic experiences affect everybody's risk taking in the same way?
AU - Cordes, Henning
AU - Dierkes, Maik
PY - 2017/2/16
Y1 - 2017/2/16
N2 - We study how macroeconomic growth experienced throughout a person's lifetime affects the decision to participate in the stock market, and how this interacts with political education. For people who have been raised in the market economy of the Federal Republic of Germany, we find that macroeconomic growth experienced throughout the lifetime predicts the likelihood of holding stocks and recent experiences have a higher impact. These findings do not extend to people who have been raised under the communistic regime of the former German Democratic Republic and thus have experienced a market economy only since the German reunification in 1989.
AB - We study how macroeconomic growth experienced throughout a person's lifetime affects the decision to participate in the stock market, and how this interacts with political education. For people who have been raised in the market economy of the Federal Republic of Germany, we find that macroeconomic growth experienced throughout the lifetime predicts the likelihood of holding stocks and recent experiences have a higher impact. These findings do not extend to people who have been raised under the communistic regime of the former German Democratic Republic and thus have experienced a market economy only since the German reunification in 1989.
KW - Behavioral finance
KW - Household finance
KW - Portfolio choice
UR - http://www.scopus.com/inward/record.url?scp=85014337025&partnerID=8YFLogxK
U2 - 10.1016/j.jbef.2017.02.004
DO - 10.1016/j.jbef.2017.02.004
M3 - Article
AN - SCOPUS:85014337025
VL - 13
SP - 25
EP - 27
JO - Journal of Behavioral and Experimental Finance
JF - Journal of Behavioral and Experimental Finance
SN - 2214-6350
ER -