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dc.creatorHanspal, Tobin
dc.creatorWeber, Annika
dc.creatorWohlfart, Johannes
dc.date.accessioned2021-09-28T09:40:12Z
dc.date.available2021-09-28T09:40:12Z
dc.date.issued2020-05-21
dc.identifier.urihttps://fif.hebis.de/xmlui/handle/123456789/2385
dc.description.abstractWe 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.
dc.rightsAttribution-ShareAlike 4.0 International
dc.rights.urihttp://creativecommons.org/licenses/by-sa/4.0/
dc.subjectHousehold Finance
dc.titleExposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations
dc.typeWorking Paper
dcterms.referenceshttps://fif.hebis.de/xmlui/handle/123456789/2072?Survey_HWW_2020
dcterms.referenceshttps://fif.hebis.de/xmlui/handle/123456789/1480?PSID
dcterms.referenceshttps://fif.hebis.de/xmlui/handle/123456789/1337?ACS
dc.source.filename279_SSRN-id3577217
dc.identifier.safeno279
dc.subject.keywordscoronavirus
dc.subject.keywordsstockholding
dc.subject.keywordswealth shocks
dc.subject.keywordsexpectation formation
dc.subject.keywordsinequality
dc.subject.jelD14
dc.subject.jelD31
dc.subject.jelD83
dc.subject.jelD84
dc.subject.jelD91
dc.subject.topic1determinant
dc.subject.topic1row
dc.subject.topic1prior
dc.subject.topic2plot
dc.subject.topic2household
dc.subject.topic2start
dc.subject.topic3note
dc.subject.topic3crash
dc.subject.topic3increase
dc.subject.topic1nameTrading and Pricing
dc.subject.topic2nameSaving and Borrowing
dc.subject.topic3nameHousehold Finance
dc.identifier.doi10.2139/ssrn.3577217


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