Endnote export
%T Investment Choice and Asset Allocation of Italian Households: the Discrete-Continuous Approach %A Ricciarelli, Matteo %J Applied Economics %N 6 %P 651-662 %V 43 %D 2009 %@ 1466-4283 %= 2011-04-01T04:36:00Z %~ http://www.peerproject.eu/ %> https://nbn-resolving.org/urn:nbn:de:0168-ssoar-241960 %X Financial and monetary policies are considered to be effective depending on the reaction of financial markets which are increasingly populated by households. In this paper, I derive a Financial Almost Ideal (FAI) Demand System from intertemporal settings and I estimate it by highlighting the determinants of both limited participation to financial markets and asset substitutability/complementarity in the allocating stage. Demand theory is not statistically rejected and shows deposits-fixed income and variable income-fixed income complementarity and deposits-variable income substitutability. Furthermore, deposits and fixed income assets are inferior assets, while variable income assets do not. %G en %9 journal article %W GESIS - http://www.gesis.org %~ SSOAR - http://www.ssoar.info