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Who Wears the Pants? Gender Identity Norms and Intrahousehold Financial Decision‐Making
Author(s) -
KE DA
Publication year - 2021
Publication title -
the journal of finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 18.151
H-Index - 299
eISSN - 1540-6261
pISSN - 0022-1082
DOI - 10.1111/jofi.13002
Subject(s) - wife , sophistication , microdata (statistics) , identity (music) , gender identity , economics , stock market , gender role , demographic economics , sociology , social psychology , psychology , political science , geography , law , demography , social science , population , physics , acoustics , census , context (archaeology) , archaeology
Using microdata from U.S. household surveys, I document that families with a financially sophisticated husband are more likely to participate in the stock market than those with a wife of equal financial sophistication. This pattern is best explained by gender identity norms, which constrain women's influence over intrahousehold financial decision‐making. A randomized controlled experiment reveals that female identity hinders idea contribution by the wife. These findings underscore the roles of intrahousehold bargaining and traditional norms in shaping household financial decisions.