政治两极化影响家庭的财务决策：来自房屋销售的证据

IF 7.6 1区经济学 Q1 BUSINESS, FINANCE

Journal of Finance Pub Date : 2024-02-11 DOI:10.1111/jofi.13315

W. BEN MCCARTNEY, JOHN ORELLANA-LI, CALVIN ZHANG

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引用次数: 0

摘要

政治认同和党派纷争是当今社会的显著特征。通过使用地契记录和选民名册，我们发现，与无党派或同党邻居相比，当附近有对立党派邻居搬入时，现有居民更有可能出售房屋。尤其是当新邻居在政治上非常活跃时，情况更是如此，这与党派之间的敌意机制是一致的。我们的结论是，情感极化并不局限于纯粹的政治环境，它还会影响家庭最重要的财务决策之一--房屋交易。

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Political Polarization Affects Households' Financial Decisions: Evidence from Home Sales

Political identity and partisanship are salient features of today's society. Using deeds records and voter rolls, we show that current residents are more likely to sell their homes when opposite-party neighbors move in nearby than when unaffiliated or same-party neighbors do. This is especially true when the new neighbors are politically active, consistent with an animosity between parties mechanism. We conclude that affective polarization is not limited to purely political settings and affects one of the household's most important financial decisions, their home transactions.

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来源期刊

Journal of Finance Multiple-

CiteScore

12.90

自引率

2.50%

发文量

期刊介绍： The Journal of Finance is a renowned publication that disseminates cutting-edge research across all major fields of financial inquiry. Widely regarded as the most cited academic journal in finance, each issue reaches over 8,000 academics, finance professionals, libraries, government entities, and financial institutions worldwide. Published bi-monthly, the journal serves as the official publication of The American Finance Association, the premier academic organization dedicated to advancing knowledge and understanding in financial economics. Join us in exploring the forefront of financial research and scholarship.