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The Effect of Population Ageing on Household Portfolio Choices in Italy

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  • Marianna Brunetti

    ()

  • Costanza Torricelli

    ()

Abstract

Based on widely accepted evidence on the exceptional ageing of the Italian population, this paper aims to assess the impact of ageing on household portfolios in Italy and hence ultimately on financial markets. To this end, we use data taken by the Bank of Italy Survey of Household Income and Wealth (SHIW) over the the period 1995–2004 and we analyse the average household portfolio in relation to demographic characteristics. In contrast to some results reported in the literature for the US, we find that financial choices of Italian households are sensibly affected by age. It follows that the exceptional ageing of the population in Italy is going to have relevant consequences on the Italian financial market.

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File URL: http://www.dep.unimore.it/materiali_discussione/0545.pdf
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Bibliographic Info

Paper provided by University of Modena and Reggio E., Faculty of Economics "Marco Biagi" in its series Department of Economics with number 0545.

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Length: pages 34
Date of creation: Feb 2007
Date of revision:
Publication status: publishedin in M. Balling & E. Gnan & F. Lierman (eds.), Money, Finance and Demography: The Consequences of Ageing, Vienna, Suerf (2007)
Handle: RePEc:mod:depeco:0545

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Web page: http://www.dep.unimore.it/
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Keywords: population ageing; financial assets; household portfolio; survey data;

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Cited by:
  1. Marianna Brunetti & Costanza Torricelli, 2007. "The role of demographic variables in explaining financial returns in Italy," Heterogeneity and monetary policy 0701, Universita di Modena e Reggio Emilia, Dipartimento di Economia Politica.

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