Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/213312
Authors: 
Grazzini, Caterina Forti
Kim, Chi Hyun
Year of Publication: 
2020
Series/Report no.: 
DIW Discussion Papers No. 1841
Abstract: 
We use US household survey data from 2001-2017 to investigate whether monetary policy has heterogeneous effects on women's and men's financial portfolio decisions by analyzing their equity investment. On the one hand, monetary policy significantly affects the entry decisions of women, but not of men: after a contractionary shock, the probability of women entering the stock market decreases. On the other hand, monetary policy is gender-neutral for stock market participants: there are no significant differences in exit or in portfolio rebalancing decisions between women and men. Our results suggest that monetary policy does not have a heterogeneous effect on portfolio decisions across genders once women participate in the stock market.
Subjects: 
Monetary Policy
Gender
Stock Market Participation
Portfolio Choices
JEL: 
E58
J16
G11
Document Type: 
Working Paper

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