Annual Conference

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Investment Finance, Senior Fellows/Fellows

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May 2022

Inflation Expectations and Portfolio Rebalancing of Households: Evidence from Inflation Targeting in India

Sumit AGARWAL, Pulak GHOSH, Changcheng SONG, Yeow Hwee CHUA
This paper exploits a natural experiment in India – Inflation Targeting to study how changes in inflation expectations influence households’ consumption, savings, and investments in risky assets. Using regional heterogeneity in inflation expectations by city and city-age-gender bins due to the I...
Keywords: Expectations, Inflation Targeting, Household Finance, Household Balance Sheet, Consumption, Savings,
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Members' Digest

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2020

Inflation Expectations and Household Consumption

Sumit AGARWAL, Bernard YEUNG
Keywords: Sumit Agarwal, Bernard YEUNG
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Annual Conference

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International Macroeconomics, Money & Banking

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May 2025

Inflation Expectation and Cryptocurrency Investment New!

Lin William CONG, Pulak GHOSH, Jiasun LI, Qihong RUAN
Using proprietary data from the predominant cryptocurrency exchange in India together with the country’s Household Inflation Expectations Survey, we document a significantly positive association between inflation expectations and individual cryptocurrency purchases. Higher inflation expectations a...
Keywords: Bitcoin, Crytocurrency, Household Finance, Inflation, Stablecoin
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Annual Conference

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Household Finance

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May 2022

Inflation and Individual Investors Behavior: Evidence from the German Hyperinflation

Fabio BRAGGION, Felix VON MEYERINCK, Nic SCHAUB
We analyze how individual investors respond to inflation. We introduce a unique dataset containing information on local inflation and security portfolios of more than 2,000 clients of a German bank between 1920 and 1924, covering the German hyperinflation. We find that individual investors buy less ...
Keywords: inflation, investor behavior, individual investors, behavioral biases, money illusion
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Annual Conference

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Trade, Growth and Development

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May 2022

Industry-University Collaboration and Commercializing Chinese Corporate Innovation

Po-Hsuan HSU, David H. HSU, Kaiguo ZHOU, Tong ZHOU
We examine how industry-university collaboration (IUC) enhances Chinese firms’ commercialization of their technologies using a comprehensive dataset of mediumsized and large industrial firms and research universities in China. Measuring IUC with the occurrence and frequency of patents co-assigned ...
Keywords: Industry-University Collaboration, Corporate Innovation, Technology Commercialization, Technology Transfers, Knowledge Acquisition, Talent Recruiting
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