HOUSING DECISION WITH DIVORCE RISK
构建了一个考虑离婚风险的生命周期住房决策模型，发现离婚率上升会降低整体住房拥有率，但对不同年龄段影响不同：年轻人因预防性储蓄增加而更早购房，中老年人因交易成本而减少购房。
Abstract We build a life‐cycle model of housing decisions under divorce risk that predicts that the recent increase in divorce rates leads to reduced homeownership rates. The risk of a divorce triggers a precautionary‐savings motive. However, this motive is weaker when individuals can invest in owner‐occupied homes because homeowners' higher savings partially substitute for precautionary savings. When young, the larger asset accumulation due to divorce‐risk‐induced precautionary savings enables households to buy homes earlier, whereas the presence of transaction costs leads to reduced homeownership for middle‐aged and older households when divorce risk goes up.