美国党派两极分化与家庭投资组合决策

IF 2.8 3区 经济学 Q2 BUSINESS, FINANCE
Nicholas Apergis
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引用次数: 0

摘要

本文利用面板调查(微观层面)数据集探讨了美国党派两极化对家庭投资组合决策的影响。结果表明,在党派两极分化加剧的情况下,家庭会大幅减少对风险资产的市场投资。这些结果经受住了一定的稳健性检验,同时也清楚地说明了政治不确定性对此类决策的影响正在上升。这些结果可能具有重大意义,因为它们表明党派两极化的不确定性在这类投资组合选择决策中起到了负外部性的作用。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
US partisan polarization and households' portfolio decisions

This paper uses a panel survey (micro-level) dataset to explore the impact of US partisan polarization on households' portfolio decisions. The results document that households significantly reduce their market investments in risky assets due to stronger partisan polarization conditions. The findings survive certain robustness checks, while they clearly illustrate the rising effect of political uncertainty on such decisions. Such results could carry substantial implications since they suggest that partisan polarization uncertainty acts as a negative externality in this type of portfolio choice decisions.

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来源期刊
CiteScore
5.70
自引率
6.90%
发文量
143
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