Understanding the impact of severe hyperinflation experience on current household investment behavior

Autor:	Manuela Dantas, José Fajardo
Rok vydání:	2018
Předmět:	050208 finance Investment behavior 0502 economics and business 05 social sciences Demographic economics Stock market Hyperinflation 050207 economics Finance
Zdroj:	Journal of Behavioral and Experimental Finance. 17:60-67
ISSN:	2214-6350
DOI:	10.1016/j.jbef.2017.12.008
Popis:	We propose that a hyperinflation event has a long-lasting effect on household investment behavior. We want to investigate whether future stock market participation can be influenced by a single extreme macroeconomic instability episode. We use data from the Brazilian Institute of Geography and Statistics and find that households who experienced hyperinflation as young adults (i) show lower willingness to invest in stocks than others, and (ii) are less likely to save for the future. Results hold after controlling for various household characteristics and other macroeconomic events.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::fee185c617be1e1aac4dcbfb4d424a62 https://doi.org/10.1016/j.jbef.2017.12.008 Zobrazit plný text záznamu Full Text from ScienceDirect