01Political
Polarization Affects Households' Financial Decisions: Evidence from Home SalesW.
BEN MCCARTNEY, JOHN ORELLANA-LI, CALVIN ZHANGAbstract: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.02Measuring
“Dark Matter” in Asset Pricing ModelsHUI
CHEN, WINSTON WEI DOU, LEONID KOGANAbstract:We
formalize the concept of “dark matter” in asset pricing models by quantifying
the additional informativeness of cross-equation restrictions about fund
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