Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/311689 
Erscheinungsjahr: 
2025
Schriftenreihe/Nr.: 
ISER Discussion Paper No. 1274
Verlag: 
Osaka University, Institute of Social and Economic Research (ISER), Osaka
Zusammenfassung: 
This study examines how experiencing a pandemic affects household investment behaviors. By leveraging cross-state variations in the H1N1 mortality rate in 2009, our difference-in-differences analysis reveals interesting findings. Although the pandemic does not significantly affect stock market participation, it depresses the proportion of liquid assets invested in risky assets among households who participate in the stock market. This effect persists for up to eight years after the pandemic and is particularly pronounced among households characterized by higher risk aversion and greater income volatility. Analysis conducted using different datasets consistently suggests that the pandemic primarily influences portfolio choices through a shift in risk attitudes.
Schlagwörter: 
Pandemic
Portfolio Choice
Rational Inattention
Risky Share
Risk Attitude
JEL: 
D10
G11
I10
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
4.37 MB





Publikationen in EconStor sind urheberrechtlich geschützt.