Exposure to the covid-19 stock market crash and its effect on household expectations

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Standard

Exposure to the covid-19 stock market crash and its effect on household expectations. / Hanspal, Tobin; Weber, Annika; Wohlfart, Johannes.

I: Review of Economics and Statistics, Bind 103, Nr. 5, 02.12.2021, s. 994-1010.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Hanspal, T, Weber, A & Wohlfart, J 2021, 'Exposure to the covid-19 stock market crash and its effect on household expectations', Review of Economics and Statistics, bind 103, nr. 5, s. 994-1010. https://doi.org/10.1162/rest_a_01011

APA

Hanspal, T., Weber, A., & Wohlfart, J. (2021). Exposure to the covid-19 stock market crash and its effect on household expectations. Review of Economics and Statistics, 103(5), 994-1010. https://doi.org/10.1162/rest_a_01011

Vancouver

Hanspal T, Weber A, Wohlfart J. Exposure to the covid-19 stock market crash and its effect on household expectations. Review of Economics and Statistics. 2021 dec. 2;103(5):994-1010. https://doi.org/10.1162/rest_a_01011

Author

Hanspal, Tobin ; Weber, Annika ; Wohlfart, Johannes. / Exposure to the covid-19 stock market crash and its effect on household expectations. I: Review of Economics and Statistics. 2021 ; Bind 103, Nr. 5. s. 994-1010.

Bibtex

@article{e96ddb476600488c8ff4447f8e1e8586,
title = "Exposure to the covid-19 stock market crash and its effect on household expectations",
abstract = "We survey a representative sample of U.S. 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{\textquoteright} 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.",
author = "Tobin Hanspal and Annika Weber and Johannes Wohlfart",
note = "Publisher Copyright: {\textcopyright} 2020 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.",
year = "2021",
month = dec,
day = "2",
doi = "10.1162/rest_a_01011",
language = "English",
volume = "103",
pages = "994--1010",
journal = "Review of Economics and Statistics",
issn = "0034-6535",
publisher = "MIT Press",
number = "5",

}

RIS

TY - JOUR

T1 - Exposure to the covid-19 stock market crash and its effect on household expectations

AU - Hanspal, Tobin

AU - Weber, Annika

AU - Wohlfart, Johannes

N1 - Publisher Copyright: © 2020 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.

PY - 2021/12/2

Y1 - 2021/12/2

N2 - We survey a representative sample of U.S. 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 U.S. 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.

U2 - 10.1162/rest_a_01011

DO - 10.1162/rest_a_01011

M3 - Journal article

AN - SCOPUS:85121003020

VL - 103

SP - 994

EP - 1010

JO - Review of Economics and Statistics

JF - Review of Economics and Statistics

SN - 0034-6535

IS - 5

ER -

ID: 287880411