Intrahousehold Disagreement about Macroeconomic Expectations
Year: 2025
Type: article
Abstract: ABSTRACT This paper highlights the simple fact that households typically consist of multiple members who may hold divergent views, a fact that existing approaches to measuring and modeling household macroeconomic expectations largely abstract from. Using unique data on the macroeconomic expectations of both spouses, I document substantial intrahousehold disagreement about inflation, economic recessions, and stock market returns. I further show that household asset allocation decisions are shaped by disagreement between spouses about future stock returns, and a preregistered randomized survey experiment confirms the causal impact of such disagreement on portfolio choice.
Source: The Journal of Finance
DOI: 10.1111/jofi.13437
Author: DA KE
Institution: University of South Carolina
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $4,430
OpenAlex ID: W4408309652