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The past decade has been a time of drastic developments, both in financial markets and in related academic research. Among the most striking developments are the expanded stockholder base, the increased popularity of mutual funds among households, and the growing importance of private pension funds. Developments in Europe mirror to a large extent the spread of equity culture in the United States, but with lower levels of involvement and interesting differences across European countries. This book, intended for a wide audience of students, practitioners, and policy makers, provides the theoretical and methodological background necessary for analysis of stockholding behaviour, and presents empirical studies that use the most comprehensive household-level databases to identify determinants of stockholding in five major European countries.
Sommario
Introduction Stockholding: A European Comparison; L.Guiso, M.Haliassos & T.Jappelli PART 1 THEORETICAL AND METHODOLOGICAL ISSUES Stockholding: Lessons from Theory & Computations; M.Haliassos Survey Design and Estimation of Portfolio Models; R.Miniaci, G.Weber PART 2 STOCKHOLDING IN EUROPEAN COUNTRIES Stockholding in France; L.Arrondel & A.Masson Stockholding in Germany; A.Börsch-Supan & Lothar Essig Stockholding in Italy; L.Guiso & T.Jappelli Stockholding in the Netherlands; R.Alessie & S.Hochguertel Stockholding in the United Kingdom; J.Banks & M.Wakefield
Info autore
ROB ALESSIE Free University of Amsterdam, Tinbergen Institute & Center
LUC ARRONDEL CNRS-DELTA, Paris
JAMES BANKS Institute for Fiscal Studies, London
AXEL BÖRSCH-SUPAN MEA, University of Mannheim & NBER
LOTHAR ESSIG MEA, University of Mannheim
STEFAN HOCHGUERTEL European University Institute, Florence
ANDRÉ MASSON CNRS-DELTA, Paris
RAFFAELE MINIACI University of Padova
MATTHEW WAKEFIELD Institute for Fiscal Studies, London
GUGLIELMO WEBER University of Padova, IFS & CEPR
Riassunto
The past decade has been a time of drastic developments, both in financial markets and in related academic research. Among the most striking developments are the expanded stockholder base, the increased popularity of mutual funds among households, and the growing importance of private pension funds. Developments in Europe mirror to a large extent the spread of equity culture in the United States, but with lower levels of involvement and interesting differences across European countries. This book, intended for a wide audience of students, practitioners, and policy makers, provides the theoretical and methodological background necessary for analysis of stockholding behaviour, and presents empirical studies that use the most comprehensive household-level databases to identify determinants of stockholding in five major European countries.
