Understanding the impact of severe hyperinflation experience on current household investment behavior

dc.contributorEscolas::EBAPE
dc.contributorFGV
dc.creatorFajardo, José
dc.creatorDantas, Manuela Moura
dc.date.accessioned2018-10-25T18:24:15Z
dc.date.available2018-10-25T18:24:15Z
dc.date.created2018-10-25T18:24:15Z
dc.date.issued2018
dc.identifier2214-6350
dc.identifierhttp://hdl.handle.net/10438/25534
dc.identifier10.1016/j.jbef.2017.12.008
dc.identifier2-s2.0-85040551837
dc.description.abstractWe propose that a hyperinflation event has a long-lasting effect on household investment behavior. We want to investigate whether future stock market participation can be influenced by a single extreme macroeconomic instability episode. We use data from the Brazilian Institute of Geography and Statistics and find that households who experienced hyperinflation as young adults (i) show lower willingness to invest in stocks than others, and (ii) are less likely to save for the future. Results hold after controlling for various household characteristics and other macroeconomic events. © 2018 Elsevier B.V.
dc.languageeng
dc.publisherElsevier B.V.
dc.relationJournal of Behavioral and Experimental Finance
dc.rightsrestrictedAccess
dc.sourceScopus
dc.subjectHousehold Behavior
dc.subjectHyperinflation
dc.subjectInvestments
dc.titleUnderstanding the impact of severe hyperinflation experience on current household investment behavior
dc.typeArticle (Journal/Review)


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