From patriarchy to partnership: Gender equality and household finance
利用意大利不同地区和世代在户主性别上的巨大差异，衡量家庭内部金融决策的性别规范，发现更平等的规范能提高家庭参与金融市场、持有股票、资产多样化和投资回报，表明性别角色可能带来巨大经济成本。
We obtain a model-driven measure of gender norms on intra-household financial decision making by leveraging dramatic variation across Italian cohorts and regions in the gender of the household head. We use these estimates to identify the effects of gender parity on household financial decisions. More egalitarian norms increase household participation in financial markets, equity holdings, asset diversification, and returns on investments. This evidence suggests that gender roles can have large economic costs. Consistent with this view, we show that patriarchal norms began receding in the early 1990s, when a pension reform made it too costly to comply with traditional roles.