Is religion an inferior good? Evidence from fluctuations in housing wealth

被引：0
|
作者：
Laeven, Luc [1 ,2 ]
Popov, Alexander [1 ,2 ]
Sievert, Clara [3 ]
机构：
[1] ECB, Frankfurt, Germany
[2] CEPR, London, England
[3] Harvard Univ, Cambridge, MA USA
来源：
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 2024年 / 217卷
关键词：
Homeownership; House prices; Social capital; Religion; Time allocation; POLITICAL-ECONOMY; TIME USE; PRICES; TRUST; SECULARIZATION; EDUCATION; SHOCKS; MARKET; LABOR; PARTICIPATION;
D O I：
10.1016/j.jebo.2023.11.030
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
An increase in local house prices in the US is associated with a decrease in the time homeowners spend on religious activities compared to renters. Notably, this effect is not observed in volunteering and civic activities. The decline in religious activities is more pronounced for credit-constrained households. The main result is attributed to a wealth effect, whereby activities that have an inferior-good component decline with housing wealth, and to a substitution effect whereby the attractiveness of activities linked to the residential asset increases during housing booms.
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页码：705 / 725
页数：21
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