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  • Households expectations and investing in safe and risky financial assets
    Dajčman, Silvo
    Drawing upon data from the European Commissionʹs consumer survey, this paper examines how four types of household expectations affect household financial portfolio decisions in the three largest euro ... area countries: Germany, France, and Italy. Focus is placed on the dynamic response of the shares of safe (currency and transferable deposits) and risky (equity and investment fund shares) financial assets in relation to the total value of financial assets held by the household sector to the shocks in expectations. The results illustrate that expectations are an important determinant of household financial portfolio decisions. In general, in response to improved expectations, households increase the share of risky assets and reduce the share of safe assets. However, country and expectations-type specific differences were observed. The effects of income, prices level, deposit rate and stock price shocks on the household financial portfolio are also documented and compared and the economic policy and financial industry implications of the results are discussed.
    Vir: Finance a úvěr. - ISSN 0015-1920 (Vol. 70, no. 5, 2020, str. 431-460)
    Vrsta gradiva - članek, sestavni del
    Leto - 2020
    Jezik - angleški
    COBISS.SI-ID - 40774915

    Povezava(-e):

    https://journal.fsv.cuni.cz/mag/article/show/id/1472

vir: Finance a úvěr. - ISSN 0015-1920 (Vol. 70, no. 5, 2020, str. 431-460)

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