TY  - UNPD
A1  - Hanspal, Tobin
A1  - Weber, Annika Renate
A1  - Wohlfart, Johannes
T1  - Exposure to the COVID-19 stock market crash and its effect on household expectations
T2  - SAFE working paper series ; No. 279
N2  - We survey a representative sample of US households to study how exposure to the COVID-19 stock market crash a↵ects 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 e↵ects 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.
T3  - SAFE working paper - 279 
KW  - Coronavirus
KW  - Stockholding
KW  - Wealth shocks
KW  - Expectation formation
KW  - Inequality
Y1  - 2020
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/53455
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-534553
UR  - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3577217
IS  - May 21, 2020
PB  - SAFE
CY  - Frankfurt am Main
ER  -