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Household Portfolios in Germany

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  • Börsch-Supan, Axel

    ()
    (Sonderforschungsbereich 504)

  • Eymann, Angelika

    ()
    (Sonderforschungsbereich 504)

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    Abstract

    This paper describes portfolio choices of German households in the 1980's and 1990's. We present stylized facts and analyze recent trends of asset ownership rates and asset shares on the basis of national accounts and survey data. We correlate socio-demographic household characteristics with asset shares and ownership, and analyze how German households have adjusted their asset portfolios in response to the policy changes during this time. A particular focus is on the effects of German reunification and the portfolio adjustments of East German households during the transition process.

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    File URL: http://www.sfb504.uni-mannheim.de/publications/dp00-15.pdf
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    Bibliographic Info

    Paper provided by Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim in its series Sonderforschungsbereich 504 Publications with number 00-15.

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    Length: 62 pages
    Date of creation: 00 0000
    Date of revision:
    Handle: RePEc:xrs:sfbmaa:00-15

    Note: This paper is an abbreviated version of a working paper that is available upon request. We gratefully acknowledge financial support of the Deutsche Forschungsgemeinschaft and the European Union (through Project B1 of the Sonderforschungsbereich 504 at the University of Mannheim, and through TMR-project ERBFMRXCT960016
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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Hochguertel, Stefan & Alessie, Rob & van Soest, Arthur, 1997. " Saving Accounts versus Stocks and Bonds in Household Portfolio Allocation," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(1), pages 81-97, March.
    2. Bertaut, Carol C. & Haliassos, Michael, 1997. "Precautionary portfolio behavior from a life-cycle perspective," Journal of Economic Dynamics and Control, Elsevier, vol. 21(8-9), pages 1511-1542, June.
    3. Wenger, E & Kaserer, C, 1997. "The German System of Corporate Governance - A Model Which Should Not Be Imitated," Papers 14, American Institute for Contemporary German Studies-.
    4. Zvi Bodie & Robert C. Merton & William F. Samuelson, 1992. "Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model," NBER Working Papers 3954, National Bureau of Economic Research, Inc.
    5. Börsch-Supan, Axel & Euwals, Rob & Eymann, Angelika, 1999. "Portfolio Choice with Behavioral Decision Mechanisms," Sonderforschungsbereich 504 Publications 99-37, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
    6. Haliassos, Michael & Bertaut, Carol C, 1995. "Why Do So Few Hold Stocks?," Economic Journal, Royal Economic Society, vol. 105(432), pages 1110-29, September.
    7. Lang, Oliver & Nohrba[ss], Karl-Heinz & Stahl, Konrad, 1997. "On income tax avoidance: the case of Germany," Journal of Public Economics, Elsevier, vol. 66(2), pages 327-347, November.
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    Cited by:
    1. Axel Börsch-Supan, 2002. "International Comparison of Household Savings Behaviour: The German Savings Puzzle," MEA discussion paper series 02006, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    2. Mathias Sommer, 2005. "Trends in German households’ portfolio behavior - assessing the importance of age- and cohort-effects," MEA discussion paper series 05082, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    3. Haliassos, Michalis & Michaelides, Alexander, 2001. "Portfolio Choice and Liquidity Constraints," CEPR Discussion Papers 2822, C.E.P.R. Discussion Papers.
    4. Axel H. Boersch-Supan & Joachim K. Winter, 2001. "Population Aging, Savings Behavior and Capital Markets," NBER Working Papers 8561, National Bureau of Economic Research, Inc.
    5. Barasinska, Nataliya & Schäfer, Dorothea & Stephan, Andreas, 2012. "Individual risk attitudes and the composition of financial portfolios: Evidence from German household portfolios," The Quarterly Review of Economics and Finance, Elsevier, vol. 52(1), pages 1-14.
    6. van der Hoek, M. Peter & Radloff, Sarah. E., 2007. "Taxing owner-occupied housing: comparing the Netherlands to other European Union countries," MPRA Paper 5876, University Library of Munich, Germany.

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