TY  - UNPD
A1  - Haliassos, Michael
A1  - Jansson, Thomas
A1  - Karabulut, Yigitcan
T1  - Incompatible european partners? Cultural predispositions and household financial behavior : [Version 30 June 2014]
T2  - SAFE working paper series ; No. 58
N2  - The Eurozone fiscal crisis has created pressure for institutional harmonization, but skeptics argue that cultural predispositions can prevent convergence in behavior. Our paper derives a robust cultural classification of European countries and utilizes unique data on natives and immigrants to Sweden. Classification based on genetic distance or on Hofstede’s cultural dimensions fails to identify a single ‘southern’ culture but points to a ‘northern’ culture. Significant differences in financial behavior are found across cultural groups, controlling for household characteristics. Financial behavior tends to converge with longer exposure to common institutions, but is slowed down by longer exposure to original institutions.
T3  - SAFE working paper - 58 
KW  - Household Portfolios
KW  - Household Finance
KW  - Cultural Influences on Economic Behavior
Y1  - 2014
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/34445
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-344458
UR  - http://ssrn.com/abstract=2462056
IS  - Version 30 June 2014
PB  - SAFE
CY  - Frankfurt am Main
ER  -