Household Finance at the Origin: Home Ownership as a Cultural Heritage from Agriculture
研究显示，不同国家和个人的住房所有权决策受到农业文化传承的影响，历史上以作物种植为主的地区，人们更倾向于拥有住房。
Abstract I show that home ownership decisions across countries and individuals are shaped by a cultural heritage from agriculture. For centuries, dominant assets in preindustrial economies were either land or cattle. Consequently, the type of farming prevailing locally shaped preferences and beliefs about the relative value of immovable and movable assets. This cultural heritage had long-lasting consequences. Today, individuals originating from societies with a history of crop agriculture—where the dominant asset was land—are more likely to be homeowners. For identification, I rely both on home ownership decisions of second-generation immigrants in the United States and on an instrument.