Bericht
How shocks affect stock market participation
While there is a broad consensus in the literature that stock ownership is associated with individual characteristics, such as wealth, income, risk preferences, and financial literacy, less is known about the dynamics of stock market participation (SMP). Major fluctuations in SMP are oftentimes related to political events, economic shocks, and technological disruptions. We discuss the literature that investigates some of these shocks, as well as personal life circumstances that determine SMP across various demographic groups. Consolidating the literature allows us to identify systematic drivers into and out of stock ownership, along with its distributional consequences. Major forces behind SMP fluctuations are changes in participation costs and benefits, risk exposure, economic policy uncertainty, income uncertainty, peer effects, and windfall gains.
- Language
-
Englisch
- Bibliographic citation
-
Series: DIW Roundup: Politik im Fokus ; No. 142
- Classification
-
Wirtschaft
- Subject
-
Kapitalanlage
Aktienmarkt
Anlageverhalten
Schock
Wirtschaftskrise
Marktlagengewinn
Altersgrenze
Arbeitslosigkeit
Deutschland
- Event
-
Geistige Schöpfung
- (who)
-
Meister, Lorenz
Schulze, Karla
- Event
-
Veröffentlichung
- (who)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (where)
-
Berlin
- (when)
-
2022
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Bericht
Associated
- Meister, Lorenz
- Schulze, Karla
- Deutsches Institut für Wirtschaftsforschung (DIW)
Time of origin
- 2022
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How oil-price shocks affect producers and consumers
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How do Capital Controls Affect the Transmission of Foreign Shocks?
How do Macroeconomic Shocks affect Expectations? Lessons from Survey Data
How Shocks Affect International Reserves? A Quasi-Experiment of Earthquakes
How competitiveness shocks affect macroeconomic performance across euro area countries
How do shocks to non-cognitive skills affect test scores?
How do shocks to bank capital affect lending and growth?
How Does European Integration Affect the European Stock Markets?