Arbeitspapier
Childhood experience of father's job loss and stock market participation
Using data from the Panel Study of Income Dynamics (PSID), I document that childhood experience of father's job loss decreases the propensity to own stocks as an adult. If this experience takes place at the age of 5–10 years, the probability of owning stocks decreases by 2.9 percentage points in a sample with mean stock market participation rate of 17%. This finding is robust to alternative definitions of age ranges and controlling for random unobserved effects. I also find an effect of similar magnitude in the Health and Retirement Study (HRS) data.
- ISBN
-
978-952-323-013-2
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Finland Research Discussion Papers ; No. 30/2014
- Klassifikation
-
Wirtschaft
Household Saving; Personal Finance
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Portfolio Choice; Investment Decisions
Unemployment: Models, Duration, Incidence, and Job Search
- Thema
-
stock market participation
personal experience
job loss
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Lehtoranta, Antti
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Finland
- (wo)
-
Helsinki
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Lehtoranta, Antti
- Bank of Finland
Entstanden
- 2014
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