Political Polarization Affects Households' Financial Decisions: Evidence from Home Sales
成果类型：
Article
署名作者：
Mccartney, W. ben; Orellana-li, John; Zhang, Calvin
署名单位：
University of Virginia; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; University of Virginia
刊物名称：
JOURNAL OF FINANCE
ISSN/ISSBN：
0022-1082
DOI：
10.1111/jofi.13315
发表日期：
2024
页码：
795-841
关键词：
摘要：
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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