We analyse financial market participation of older Europeans throughout the crisis. Risky assets are much more commonly held in Northern and Central European countries. We then study what factors drive the decision to liquidate assets during the crisis. We find that a decline in income is the most important explanatory factor.
Financial market participation and the crisis
CAVAPOZZI, Danilo;
2013-01-01
Abstract
We analyse financial market participation of older Europeans throughout the crisis. Risky assets are much more commonly held in Northern and Central European countries. We then study what factors drive the decision to liquidate assets during the crisis. We find that a decline in income is the most important explanatory factor.
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