Household Financial Decision Making Amidst the COVID-19 Pandemic
Household Financial Decision Making Amidst the COVID-19 Pandemic
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DOI：
10.1080/1540496x.2020.1784717
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发表时间：
2020-08-08
影响因子：
4
通讯作者：
Zhou, Haigang
中科院分区：
文献类型：
--
作者：
Yue, Pengpeng;Korkmaz, Aslihan Gizem;Zhou, Haigang
本文利用中国家庭金融调查研究中心开展的一项新调查，调查了COVID-19大流行对家庭投资决策的影响。我们使用线性概率和概率模型来分析COVID-19在家庭层面的影响。我们的研究结果显示，知道有人感染COVID-19的家庭对经济失去信心。他们更有可能改变自己的风险行为，变得厌恶风险。此外，COVID-19增加了家庭改变其投资组合的可能性。更具体地说，它使总投资减少了9.15%。
This paper investigates the impact of the COVID-19 pandemic on household investment decisions using a novel survey conducted by the Survey and Research Center for China Household Finance. We use linear probability and probit models to analyze the effects of COVID-19 at the household level. Our results show that households who know someone infected with COVID-19 lose confidence in the economy. They are more likely to change their risk behavior and become risk-averse. Further, COVID-19 increases the probability that a household will change its investment portfolio. More specifically, it causes a 9.15% decrease in the total investment amount.