Sarah Necker|Michael Ziegelmeyer
Household risk taking after the financial crisis
Walter Eucken Institut|University of Freiburg|Central Bank of Luxembourg
study investigates whether crisis 20082009 affects households risk attitudes subjective risk return expectations planned financial risk taking using german save study households wealth change end2007 end2009 found effect however households attribute losses crisis decreased risk tolerance planned risk taking probability expecting increase risks returns increased according economic theory wealth changes attributed dramatic event different effect wealth changes results suggest emotional reaction