| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13596 |
| DP13596 Participation Following Sudden Access | |
| Nicola Fuchs-Schündeln; Michael Haliassos | |
| 发表日期 | 2019-03-18 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | The German reunification experiment provided sudden access to previously unavailable financial products, supported by knowledgeable practitioners. This setting offers new perspectives on participation, inertia, and product diffusion. Controlling for characteristics, East Germans experienced a jump in securities participation to a level comparable to West Germans’ participation immediately following reunification, and to an even higher level for consumer debt, while exhibiting inertia in previously accessible products. They showed no signs of subsequent retreat. Lower financial resources are the most important characteristic explaining lower East German participation in all asset classes, while expectations and peer effects drive the higher East German debt participation. |
| 主题 | Financial Economics |
| 关键词 | Household finance Financial market participation Inertia German reunification |
| URL | https://cepr.org/publications/dp13596-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542454 |
| 推荐引用方式 GB/T 7714 | Nicola Fuchs-Schündeln,Michael Haliassos. DP13596 Participation Following Sudden Access. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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