| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22209 |
| 来源ID | Working Paper 22209 |
| Who Sold During the Crash of 2008-9? Evidence from Tax-Return Data on Daily Sales of Stock | |
| Jeffrey Hoopes; Patrick Langetieg; Stefan Nagel; Daniel Reck; Joel Slemrod; Bryan Stuart | |
| 发表日期 | 2016-05-02 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | We examine individual stock sales from 2008 to 2009 using population tax return data. The share of sales by the top 0.1 percent of income recipients and other top income groups rose sharply following the Lehman Brothers bankruptcy and remained elevated throughout the financial crisis. Sales by top income and older age groups were relatively more responsive to increased stock market volatility. Volatility-driven sales were not concentrated in any one sector, but mutual fund sales responded more strongly to increased volatility than stock sales. Additional analysis suggests that gross sales in tax return data are informative about unobserved net sales. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w22209 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579883 |
| 推荐引用方式 GB/T 7714 | Jeffrey Hoopes,Patrick Langetieg,Stefan Nagel,et al. Who Sold During the Crash of 2008-9? Evidence from Tax-Return Data on Daily Sales of Stock. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22209.pdf（912KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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