Members' Digest

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2020

Inflation Expectations and Household Consumption

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

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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Annual Conference

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International Macroeconomics, Money & Banking

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May 2019

Industrial Revolutions and Global Imbalances

Kenichi UEDA, Alexander MONGE-NARANJO
Based on the historical data since 1845, we identify a stylized fact, that is, alternating waves in global imbalances generated by sequential industrial revolutions. We develop a new theory to explain this stylized fact. Our theory proposes a development-stage view for the optimal global imbalances....
Keywords: Global imbalance, external wealth, industrial revolution
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