Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations

Publikation: Working paper › Forskning

Standard

Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations. / Hanspal, Tobin; Weber, Annika; Wohlfart, Johannes.

2020.

Publikation: Working paper › Forskning

Harvard

Hanspal, T, Weber, A & Wohlfart, J 2020 'Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations'. https://doi.org/10.2139/ssrn.3578472

APA

Hanspal, T., Weber, A., & Wohlfart, J. (2020). Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations. CEBI Working Paper Series Nr. 13/20 https://doi.org/10.2139/ssrn.3578472

Vancouver

Hanspal T, Weber A, Wohlfart J. Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations. 2020 apr. 17. https://doi.org/10.2139/ssrn.3578472

Author

Hanspal, Tobin ; Weber, Annika ; Wohlfart, Johannes. / Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations. 2020. (CEBI Working Paper Series; Nr. 13/20).

Bibtex

@techreport{65607e0e68ab497b841aeda0514a8449,
title = "Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations",
abstract = "We survey a representative sample of US households to study how exposure to the COVID-19 stock market crash affects expectations and planned behavior. Wealth shocks are associated with upward adjustments of expectations about retirement age, desired working hours, and household debt, but have only small effects on expected spending. We provide correlational and experimental evidence that beliefs about the duration of the stock market recovery shape households' expectations about their own wealth and their planned investment decisions and labor market activity. Our findings shed light on the implications of household exposure to stock market crashes for expectation formation.",
keywords = "Coronavirus, Wealth shocks, Income shocks, Expectations, Inequality",
author = "Tobin Hanspal and Annika Weber and Johannes Wohlfart",
year = "2020",
month = apr,
day = "17",
doi = "10.2139/ssrn.3578472",
language = "English",
series = "CEBI Working Paper Series",
number = "13/20",
type = "WorkingPaper",

}

RIS

TY - UNPB

T1 - Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations

AU - Hanspal, Tobin

AU - Weber, Annika

AU - Wohlfart, Johannes

PY - 2020/4/17

Y1 - 2020/4/17

N2 - We survey a representative sample of US households to study how exposure to the COVID-19 stock market crash affects expectations and planned behavior. Wealth shocks are associated with upward adjustments of expectations about retirement age, desired working hours, and household debt, but have only small effects on expected spending. We provide correlational and experimental evidence that beliefs about the duration of the stock market recovery shape households' expectations about their own wealth and their planned investment decisions and labor market activity. Our findings shed light on the implications of household exposure to stock market crashes for expectation formation.

AB - We survey a representative sample of US households to study how exposure to the COVID-19 stock market crash affects expectations and planned behavior. Wealth shocks are associated with upward adjustments of expectations about retirement age, desired working hours, and household debt, but have only small effects on expected spending. We provide correlational and experimental evidence that beliefs about the duration of the stock market recovery shape households' expectations about their own wealth and their planned investment decisions and labor market activity. Our findings shed light on the implications of household exposure to stock market crashes for expectation formation.

KW - Coronavirus

KW - Wealth shocks

KW - Income shocks

KW - Expectations

KW - Inequality

U2 - 10.2139/ssrn.3578472

DO - 10.2139/ssrn.3578472

M3 - Working paper

T3 - CEBI Working Paper Series

BT - Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations

ER -

ID: 248803328