Annual Conference

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Economic Transformation of Asia, Senior Fellows/Fellows

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May 2018

Cultural Preferences in International Trade: Evidence from the Globalization of Korean Pop Culture

Pao-Li CHANG, Iona Hyojung LEE
Korean pop culture (soap operas and K-pop music) has grown immensely popular across the globe over the past 15 years. This paper analyzes its impacts on international trade. We compile cross-country panel data on South Korea’s TV show exports to 136 countries for the period 2001– 2014. These dat...
Keywords: Korean Wave, trade, FDI, Gravity Equation, Cultural Preferences
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Annual Conference

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Investment Finance

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May 2019

Cryptocurrency Pump-and-Dump Schemes

Baolian WANG, Donghwa SHIN, Tao LI
Pump-and-dump schemes (P&Ds) are pervasive in the cryptocurrency market. We study these events using trade-by-trade data and a sample of P&Ds with precisely identified starting times. We find that P&Ds lead to short-term cryptocurrency bubbles featuring dramatic increases in prices, volu...
Keywords: Pump-and-dump scheme, Manipulation, cryptocurrency, overconfidence, gambling
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Senior Fellows/Fellows

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Senior Fellows/Fellows

Crypto Wash Trading

Lin William CONG, Xi LI, Ke TANG, Yang YANG
We present a systematic approach to detect fake transactions on cryptocurrency exchanges by exploiting robust statistical and behavioral regularities associated with authentic trading. Our sample consists of 29 centralized exchanges, among which the regulated ones feature transaction patterns consis...
Keywords: Bitcoin, CeFi, cryptocurrency, Forensic Finance, Fraud Detection, regulation
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AMPF Papers

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Policy Note

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May 2019

Crypto and Digital Currencies - Challenges to Central Banks

Beatrice WEDER DI MAURO
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Dec 2022

Crowdsourcing Peer Information to Change Spending Behavior

Michael WEBER, Francesco DACUNTO, Alberto G. ROSSI
We isolate and quantify the information channel of peer effects using a unique consumption setting that by construction excludes any scope for common shocks or social pressure—a transaction-level panel dataset of spending paired with crowdsourced information about the spending of anonymous “peer...
Keywords: Social Learning, Beliefs and Expectations, FinTech, Robo-advising, Social Finance, Information Economics, Household Finance
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