Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/123769
Authors: 
Zhou, Jie
Year of Publication: 
2015
Series/Report no.: 
Bank of Canada Working Paper 2015-15
Abstract: 
Using the Panel Study of Income Dynamics, this paper studies household stock market participation and trading behavior in 2007 - 09, a period that saw a major stock market downswing. The stock market participation rate fell after the market crash. We find evidence that less-educated households, poor households and households with heads belonging to a minority are the ones that dropped out of the market after the market crash. We also find that, of the households that held stocks in non-retirement accounts in 2007, a significant portion reported no stock market activity in non-retirement accounts during the crisis period.
Subjects: 
Asset pricing
Financial markets
JEL: 
G01
G11
Document Type: 
Working Paper

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