Credit Scores, Trust, and Stock Market Participation

Jesse Bricker and Geng Li
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Jesse Bricker: https://www.federalreserve.gov/econres/jesse-bricker.htm

No 2015-10-01-1, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Investments in stocks earn a substantially higher return than investment in safer assets in the long run, even after adjusting for risks in the stock market. However, not all households own stocks (Mankiw and Zeldes, 1991), and the share of U.S. households that invest in stocks has been much lower than the standard theory predicts--a phenomenon often referred to as the "participation puzzle."

Date: 2015-10-01
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2015-10-01-1

DOI: 10.17016/2380-7172.1588

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