| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10632 |
| DP10632 Does Product Familiarity Matter for Participation? | |
| Michael Haliassos; Nicola Fuchs-Schündeln | |
| 发表日期 | 2015-05-31 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Household access to financial products is often conditioned on previous use. However, banning access when learning is possible may be discriminatory or counter-productive. The ?experiment? of German reunification (exogenously) offered to East Germans unconditional access to (exogenously) unfamiliar capitalist products. Controlling for characteristics, East Germans participated immediately, were as likely to use unfamiliar risky securities as West Germans, and more likely to use consumer debt, without signs of regret. Our results suggest that mistakes of unfamiliar households can be prevented by a knowledgeable and well-incentivized financial sector and by interaction with familiar peers. This implies that regulation should refocus on the financial sector rather than on prohibiting individuals to gain familiarity with financial products. |
| 主题 | Financial Economics |
| 关键词 | Stockholding Household debt Consumer credit Household finance Familiarity Regulation Investor protection Financial literacy |
| URL | https://cepr.org/publications/dp10632 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539464 |
| 推荐引用方式 GB/T 7714 | Michael Haliassos,Nicola Fuchs-Schündeln. DP10632 Does Product Familiarity Matter for Participation?. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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