Financial risk-taking under health risk / Björn Bos, Moritz A. Drupp, Jasper N. Meya, Martin F. Quaas
We study how background health risk affects financial risk-taking. We elicit financial risk-taking behavior of a representative sample of more than 5,000 Germans in five panel waves during the COVID-19 pandemic. Exploiting variation in local infections across time and space, we find that an increase in infections affecting background health risk translates into higher levels of self-reported fear and decreases financial investments in a risky asset. Once vaccines become available as a self-insurance device, the tempering effect on investments ceases. Our results provide evidence that non-financial background risks affect financial risk-taking, and for the alleviating effect of self-insurance devices..
Medienart: |
E-Book |
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Erscheinungsjahr: |
April 2023 |
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Erschienen: |
Munich, Germany: CESifo ; April 2023 |
Reihe: |
CESifo working papers - 10387 (2023) |
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Sprache: |
Englisch |
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Beteiligte Personen: |
Bos, Björn [VerfasserIn] |
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Links: |
www.cesifo.org [kostenfrei] |
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Umfang: |
1 Online-Ressource (circa 58 Seiten) ; Illustrationen |
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Weitere IDs: |
10419/272031 |
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Förderinstitution / Projekttitel: |
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PPN (Katalog-ID): |
1844775054 |
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