Using the Household Finance and Consumption Survey (HFCS), a large micro-level dataset on households’ wealth in fifteen euro area countries, this paper explores how households allocate their assets. We derive stylized facts on asset participation as well as levels of asset holdings and...

We use cross-country microdata to analyse the risk taking of households in Europe and the US. Concerning the extensive as well as the intensive margin of risky assets, European households differ substantially from US households; but also inside Europe we document substantial differences....

This paper studies how peers' financial behaviour affects individuals' own investment choices. To identify the peer effect, we exploit the unique composition of the Luxembourg population and use the differences in stock market participation across various immigrant groups to study how they...

This paper studies how peers' financial behaviour affects individuals' own investment choices. To identify the peer effect, we exploit the unique composition of the Luxembourg population and use the differences in stock market participation across various immigrant groups to study how they...

This paper studies how peers’ financial behaviour affects individuals’ own investment choices. To identify the peer effect, we exploit the composition of the Luxembourg population and use the differ-ences in stock market participation across various immigrant groups to study the effect on...