Viewing 3 posts categorized under Savings

Monetary policy and household consumption spending in Portugal

July 9, 2022

This paper studies the effect of monetary policy across households of different Euro Area countries to understand the effects of the likely scenario of future interest rate hikes by the European Central Bank. Specifically, the paper studies mechanisms through which monetary policy may differentially affect households across the Euro Area. The rise in interest rates should be especially relevant to those countries with high debt levels, like Greece, Portugal, Italy and Spain.

Education and avoidable costs in the stock market

April 27, 2022

This study investigates preventable financial mistakes by retail investors in the stock market and whether education helps reduce their likelihood. The paper examines the change in brokers’ commission schedules in the aftermath of the acquisition of Bolsa de Valores de Lisboa e Porto, the Portuguese stock market, by Euronext Group. The acquisition led to significant changes in the structure of brokers’ trading fee schedules penalizing small transactions, which were very common among retail investors prior to the acquisition.

Private saving determinants in Portugal

May 27, 2019

The combination of projected expenditure increases in the Portuguese public pension scheme and low rates of private saving constitutes a policy challenge, not least because the former may be associated with the later. The impact of public pension wealth on private saving has been widely studied since the late 1970’s, yet no consensus on the topic has been reached so far. Some authors find evidence that public pension wealth impacts negatively private saving, others argue that the effect is not statistically significant.