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Portfolio Choices, Gender and Marital Status


  • Graziella Bertocchi

    () (University of Modena and Reggio Emilia
    CEPR, London
    CHILD, Turin
    IZA, Bonn)

  • Marianna Brunetti

    () (University of Rome "Tor Vergata"
    CEFIN - Modena
    CHILD, Turin)

  • Costanza Torricelli

    () (University of Modena and Reggio Emilia
    CEFIN - Modena)


We study the impact of gender and marital status on financial decisions using the 1989-2006 Bank of Italy Survey of Household Income and Wealth. Controlling for several characteristics of household financial heads, we find that male and married ones are more likely to invest in risky assets than female and single ones, respectively. We also investigate the role of background socio-economic factors that capture regional differences in the family structure and the organization of the labor market. Specifically, we find that higher divorce rates and female labor market participation rates are associated with a higher propensity to invest in risky assets.

Suggested Citation

  • Graziella Bertocchi & Marianna Brunetti & Costanza Torricelli, 2008. "Portfolio Choices, Gender and Marital Status," Rivista di Politica Economica, SIPI Spa, vol. 98(5), pages 119-154, September.
  • Handle: RePEc:rpo:ripoec:v:98:y:2008:i:5:p:119-154

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    References listed on IDEAS

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    Cited by:

    1. Siobhan Austen & Rachel Ong & Sherry Bawa & Therese Jefferson, 2013. "Trends in the Gender Wealth Gap Among Single Households in Australia, 2002-2010," Bankwest Curtin Economics Centre Working Paper series WP1308, Bankwest Curtin Economics Centre (BCEC), Curtin Business School.

    More about this item


    portfolio choice; gender; marital status; divorce; labor force participation;

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure


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