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Stockholding in Italy

In: Stockholding in Europe

Author

Listed:
  • Luigi Guiso
  • Tullio Jappelli

Abstract

Historically, stockownership in Italy — as in other European countries — has not been widespread. Recently, however, there have been important developments in the composition of the portfolio of Italian households. The most significant changes are the increased participation in the equity market, the sharp increase in the share of stocks in the portfolio (held either directly or through mutual funds), and the parallel decline of transaction accounts and government bonds.

Suggested Citation

  • Luigi Guiso & Tullio Jappelli, 2003. "Stockholding in Italy," Palgrave Macmillan Books, in: Luigi Guiso & Michael Haliassos & Tullio Jappelli (ed.), Stockholding in Europe, chapter 6, pages 141-167, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50267-3_6
    DOI: 10.1057/9780230502673_6
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    References listed on IDEAS

    as
    1. David A. Wise, 1994. "Studies in the Economics of Aging," NBER Books, National Bureau of Economic Research, Inc, number wise94-1, March.
    2. Stephen G. Cecchetti, 2001. "Legal Structure, Financial Structure and the Monetary Policy Transmission Mechanism," Palgrave Macmillan Books, in: Deutsche Bundesbank (ed.), The Monetary Transmission Process, chapter 5, pages 170-207, Palgrave Macmillan.
    3. Angus S. Deaton & Christina Paxson, 1994. "Saving, Growth, and Aging in Taiwan," NBER Chapters, in: Studies in the Economics of Aging, pages 331-362, National Bureau of Economic Research, Inc.
    4. Cesari, R. & Panetta, F., 1998. "Style, Fees and Performance of Italian Equity Funds," Papers 325, Banca Italia - Servizio di Studi.
    5. Christina Paxson, 1990. "Borrowing Constraints and Portfolio Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(2), pages 535-543.
    6. Guiso, Luigi & Jappelli, Tullio & Terlizzese, Daniele, 1996. "Income Risk, Borrowing Constraints, and Portfolio Choice," American Economic Review, American Economic Association, vol. 86(1), pages 158-172, March.
    7. repec:bla:jfinan:v:53:y:1998:i:1:p:27-64 is not listed on IDEAS
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    Cited by:

    1. Luigi Guiso & Michael Haliassos & Tullio Jappelli, 2001. "Le profil des détenteurs d'actions en Europe," Revue d'Économie Financière, Programme National Persée, vol. 64(4), pages 169-178.
    2. Luigi Guiso & Tullio Jappelli, 2005. "Awareness and Stock Market Participation," Review of Finance, European Finance Association, vol. 9(4), pages 537-567.
    3. David Loschiavo, 2021. "Household debt and income inequality: Evidence from Italian survey data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 67(1), pages 61-103, March.
    4. Johannes Binswanger, 2005. "Risk Management of Pension Systems from the Perspective of Loss Aversion," CESifo Working Paper Series 1572, CESifo.
    5. Charles Grant & Tuomas Peltonen, 2005. "Housing and Equity Wealth Effects of Italian Households," DNB Working Papers 043, Netherlands Central Bank, Research Department.
    6. Ms. Sònia Muñoz, 2006. "Habit Formation and Persistence in Individual Asset Portfolio Holdings: The Case of Italy," IMF Working Papers 2006/029, International Monetary Fund.
    7. Tuukka Saarimaa, 2008. "Owner-Occupied Housing and Demand for Risky Financial Assets: Some Finnish Evidence," Finnish Economic Papers, Finnish Economic Association, vol. 21(1), pages 22-38, Spring.
    8. Bucher-Koenen, Tabea & Lusardi, Annamaria, 2011. "Financial literacy and retirement planning in Germany," Journal of Pension Economics and Finance, Cambridge University Press, vol. 10(4), pages 565-584, October.
    9. Yannis Bilias & Michael Haliassos, 2004. "The Distribution of Gains from Access to Stocks," CSEF Working Papers 125, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    10. Börsch-Supan, Axel & Annamaria Lusardi, 2002. "Saving Viewed from a Cross-National Perspective," MEA discussion paper series 02024, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    11. Bucher-Koenen, Tabea & Ziegelmeyer, Michael, 2011. "Who lost the most? Financial Literacy, Cognitive Abilities, and the Financial Crisis," MEA discussion paper series 11234, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    12. Manuela Deidda, 2014. "Precautionary saving under liquidity constraints: evidence from Italy," Empirical Economics, Springer, vol. 46(1), pages 329-360, February.
    13. repec:dau:papers:123456789/8576 is not listed on IDEAS
    14. Attilio Gardini & Alessandro Magi, 2007. "Stock Market Participation: New Empirical Evidence from Italian Households'Behavior," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 66(1), pages 93-114, March.
    15. Luc Arrondel & Frédérique Savignac, 2009. "Stockholding: Does housing wealth matter?," Working papers 266, Banque de France.
    16. Peltonen, Tuomas A. & Grant, Charles, 2008. "Housing and equity wealth effects of Italian households," Working Paper Series 857, European Central Bank.

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