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  1. Tell me something i don't already know
    learning in low and high-inflation settings
    Autor*in: Weber, Michael; Candia, Bernardo; Ropele, Tiziano; Lluberas, Rodrigo; Frache, Serafin; Meyer, Brent; Kumar, Saten; Gorodnichenko, Yuriy; Georgarakos, Dimitris; Coibion, Olivier; Kenny, Geoff; Ponce, Jorge
    Erschienen: 15 July 2023
    Verlag:  Centre for Economic Policy Research, London

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    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    LZ 161
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Mannheim
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP18299
    Schlagworte: Inflationserwartung; Wirtschaftsinformation; Geldpolitik; Rationale Erwartung; Randomisierte kontrollierte Studie; Inflation expectations; Rational inattention; Randomized controlled trial (rct)
    Umfang: 1 Online-Ressource (circa 61 Seiten), Illustrationen
  2. Do You Even Crypto, Bro?
    Cryptocurrencies in Household Finance
    Autor*in: Weber, Michael; Candia, Bernardo; Coibion, Olivier; Gorodnichenko, Yuriy
    Erschienen: May 2023
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    Using repeated large-scale surveys of U.S. households, we study the cryptocurrency investment decisions and motives of households relative to other financial assets. Cryptocurrency holders tend to be young, white, male and more libertarian relative... mehr

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    Standort:
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Freiburg
    Fernleihe:
    keine Fernleihe

    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    Fernleihe:
    keine Fernleihe

    Standort:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe

     

    Using repeated large-scale surveys of U.S. households, we study the cryptocurrency investment decisions and motives of households relative to other financial assets. Cryptocurrency holders tend to be young, white, male and more libertarian relative to non-crypto holders. They expect much higher rates of returns for crypto and perceive it as relatively safer than do other households. They also view it as a better hedge against inflation. For those holding cryptocurrencies, changes in Bitcoin prices translate into their purchases of durable goods. Finally, exogenously-provided information about historical returns of cryptocurrencies leads individuals to increase their desired crypto holdings and makes them more likely to actually purchase cryptocurrency subsequently. We compare these views and behaviors to those of households toward other financial assets and argue that cryptocurrency is unique in many of these respects

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: NBER working paper series ; no. w31284
    Schlagworte: Privater Haushalt; Virtuelle Währung; Investitionsentscheidung; Haushaltsökonomik; USA; Information, Knowledge, and Uncertainty; Money and Interest Rates; Household Finance
    Umfang: 1 Online-Ressource, illustrations (black and white)
    Bemerkung(en):

    Hardcopy version available to institutional subscribers
  3. Cognitive constraints and economic incentives
    Autor*in: D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; Weber, Michael
    Erschienen: 26 May 2023
    Verlag:  Bank of Finland, Helsinki

    Unique administrative data on a representative population's cognitive abilities, spending, and financials reveal that consumers at or below median cognitive abilities barely react when their incentives to spend or borrow change, even if they earn... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 685
    Fernleihe:
    keine Fernleihe

     

    Unique administrative data on a representative population's cognitive abilities, spending, and financials reveal that consumers at or below median cognitive abilities barely react when their incentives to spend or borrow change, even if they earn high incomes and are financially unconstrained and conditional on formal education, personal and macroeconomic expectations, and rich demographics. Matched survey-based data on this population show that non-responsive consumers fail to grasp how the incentives to consume, save, and borrow change over time. Cognitive constraints limit the effectiveness of policies targeting household consumption and debt and might lead to regressive redistribution from low- to high-cognitive-ability consumers.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789523234383
    Weitere Identifier:
    hdl: 10419/271515
    Schriftenreihe: Bank of Finland research discussion papers ; 2023, 9
    Schlagworte: Behavioral Economics; Limited Cognition; Consumption; Borrowing; Heterogeneous Agents; Redistribution; Inequality
    Umfang: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  4. Households' response to the wealth effects of inflation
    Autor*in: Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas
    Erschienen: 2023
    Verlag:  Universitätsbibliothek Johann Christian Senckenberg, Frankfurt am Main

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  5. Households' Response to the Wealth Effects of Inflation
    Autor*in: Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas
    Erschienen: September 2023
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are... mehr

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    Verlag (lizenzpflichtig)
    Resolving-System (lizenzpflichtig)

    Standort:
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Freiburg
    Fernleihe:
    keine Fernleihe

    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    Fernleihe:
    keine Fernleihe

    Standort:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe

     

    We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal assets, most are unaware of nominal-debt erosion. Once they receive information on the debt-erosion channel, households update upwards their beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once households are aware of the wealth effects of inflation

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: NBER working paper series ; no. w31672
    Schlagworte: Inflation; Privater Haushalt; Privater Konsum; Konsumentenverhalten; Finanzwissen; Vermögenseffekt; Konsumtheorie; Consumer Economics: Empirical Analysis; Household Saving; Personal Finance; Search; Learning; Information and Knowledge; Communication; Belief; Unawareness; Expectations; Speculations; Consumption; Saving; Wealth; Price Level; Inflation; Deflation; Monetary Policy
    Umfang: 1 Online-Ressource, illustrations (black and white)
    Bemerkung(en):

    Hardcopy version available to institutional subscribers
  6. Greater Than the Sum of Its Parts
    Aggregate vs. Aggregated Inflation Expectations
    Autor*in: Dietrich, Alexander M.; Knotek, Edward S.; Myrseth, Kristian Ove R.; Rich, Robert W.; Schoenle, Raphael; Weber, Michael
    Erschienen: November 2023
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    This paper introduces a novel measure of consumer inflation expectations: We elicit and combine inflation forecasts across categories of personal consumption expenditure to form an aggregated measure of inflation expectations. Drawing on nearly... mehr

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    Standort:
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Freiburg
    Fernleihe:
    keine Fernleihe

    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    Fernleihe:
    keine Fernleihe

    Standort:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe

     

    This paper introduces a novel measure of consumer inflation expectations: We elicit and combine inflation forecasts across categories of personal consumption expenditure to form an aggregated measure of inflation expectations. Drawing on nearly 60,000 respondents, our data comprise the early low-inflation environment of the COVID pandemic and the 2021 inflation surge. Conventionally elicited inflation expectations consistently exceed aggregated measures constructed under plausible weighting schemes. Aggregated measures display less disagreement and volatility and are stronger predictors of consumers' spending plans. The relative informational value of aggregated measures rises with the individual-level gap between conventional and aggregated inflation expectations. Our results chart a new course for designing measurement of inflation expectations

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: NBER working paper series ; no. w31822
    Schlagworte: Inflationserwartung; Messung; Konsumentenverhalten; Konsumentenpräferenzen; Verbrauchereinstellung; Befragung; USA; Survey Methods; Sampling Methods; Price Level; Inflation; Deflation; Monetary Policy
    Umfang: 1 Online-Ressource, illustrations (black and white)
    Bemerkung(en):

    Hardcopy version available to institutional subscribers
  7. Households' response to the wealth effects of inflation
    Autor*in: Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas
    Erschienen: [2023]
    Verlag:  Leibniz Institute for Financial Research SAFE, Sustainable Architecture for Finance in Europe, [Frankfurt am Main]

    We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are... mehr

    Zugang:
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 431
    Fernleihe:
    keine Fernleihe

     

    We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal assets, most are unaware of nominal-debt erosion. Once they receive information on the debt-erosion channel, households update upwards their beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once households are aware of the wealth effects of inflation.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/276257
    Schriftenreihe: SAFE working paper ; no. 400 (September 2023)
    Schlagworte: Inflation; Privater Haushalt; Privater Konsum; Konsumentenverhalten; Finanzwissen; Vermögenseffekt; Konsumtheorie; Inflation Beliefs; Information Treatment; Consumption; Monetary Policy
    Umfang: 1 Online-Ressource (circa 80 Seiten), Illustrationen
  8. Households' response to the wealth effects of inflation
    Autor*in: Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas
    Erschienen: September 2023
    Verlag:  CESifo, Munich, Germany

    We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 63
    Fernleihe:
    keine Fernleihe

     

    We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal assets, most are unaware of nominal-debt erosion. Once they receive information on the debt-erosion channel, households update upwards their beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once households are aware of the wealth effects of inflation.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/282336
    Schriftenreihe: CESifo working papers ; 10648 (2023)
    Schlagworte: Inflation; Privater Haushalt; Privater Konsum; Konsumentenverhalten; Finanzwissen; Vermögenseffekt; Konsumtheorie; inflation beliefs; information treatment; consumption; monetary policy
    Umfang: 1 Online-Ressource (circa 80 Seiten), Illustrationen
  9. Inclusive monetary policy
    how tight labor markets facilitate broad-based employment growth
    Autor*in: Bergman, Nittai K.; Matsa, David A.; Weber, Michael
    Erschienen: [2023]
    Verlag:  The Pinhas Sapir Center for Development, Tel Aviv University, Tel Aviv, Israel

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Discussion paper / The Pinhas Sapir Center for Development ; no. 2023, 8
    Schlagworte: Monetary Policy; Labor Markets; Heterogeneous Agents; Federal Reserve
    Umfang: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  10. Households' response to the wealth effects of inflation
    Autor*in: Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas
    Erschienen: 09 September 2023
    Verlag:  Centre for Economic Policy Research, London

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    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    LZ 161
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Mannheim
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP18440
    Schlagworte: Inflation; Privater Haushalt; Privater Konsum; Konsumentenverhalten; Finanzwissen; Vermögenseffekt; Konsumtheorie; Inflation Beliefs; Information Treatment; Consumption; Monetary Policy
    Umfang: 1 Online-Ressource (circa 81 Seiten), Illustrationen
  11. Tell Me Something I Don't Already Know
    Learning in Low and High-Inflation Settings
    Autor*in: Weber, Michael; Candia, Bernardo; Ropele, Tiziano; Lluberas, Rodrigo; Frache, Serafin; Meyer, Brent H.; Kumar, Saten; Gorodnichenko, Yuriy; Georgarakos, Dimitris; Coibion, Olivier; Kenny, Geoff
    Erschienen: July 2023
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    Using randomized control trials (RCTs) applied over time in different countries, we study how the economic environment affects how agents learn from new information. We show that as inflation has recently risen in advanced economies, both households... mehr

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    Verlag (lizenzpflichtig)
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    Standort:
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Freiburg
    Fernleihe:
    keine Fernleihe

    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    Fernleihe:
    keine Fernleihe

    Standort:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe

     

    Using randomized control trials (RCTs) applied over time in different countries, we study how the economic environment affects how agents learn from new information. We show that as inflation has recently risen in advanced economies, both households and firms have become more attentive and informed about inflation, leading them to respond less to exogenously provided information about inflation and monetary policy. We also study the effects of RCTs in countries where inflation has been consistently high (Uruguay) and low (New Zealand) as well as what happens when the same agents are repeatedly provided information in both low- and high-inflation environments (Italy). Our results broadly support models in which inattention is an endogenous outcome that depends on the economic environment

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: NBER working paper series ; no. w31485
    Schlagworte: Inflationserwartung; Wirtschaftsinformation; Geldpolitik; Rationale Erwartung; Randomisierte kontrollierte Studie; Prices, Business Fluctuations, and Cycles; General; General
    Umfang: 1 Online-Ressource, illustrations (black and white)
    Bemerkung(en):

    Hardcopy version available to institutional subscribers
  12. Tell me something I don't already know
    learning in low- and high-inflation settings
    Autor*in: Weber, Michael; Candia, Bernardo; Ropele, Tiziano; Lluberas, Rodrigo; Frache, Serafin; Meyer, Brent; Kumar, Saten; Gorodnichenko, Yuriy; Georgarakos, Dimitris; Coibion, Olivier; Kenny, Geoff
    Erschienen: [2023]
    Verlag:  Federal Reserve Bank of Atlanta, Atlanta, GA

    Using randomized control trials (RCT) applied over time in different countries, we study how the economic environment affects how agents learn from new information. We show that as inflation has risen in developed economies, both households and firms... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 253
    Fernleihe:
    keine Fernleihe

     

    Using randomized control trials (RCT) applied over time in different countries, we study how the economic environment affects how agents learn from new information. We show that as inflation has risen in developed economies, both households and firms have become more attentive and informed about inflation, leading them to respond less to exogenously provided information about inflation and monetary policy. This observation holds for both firms and households. We also study the effects of RCTs in countries where inflation has been consistently high (Uruguay) and low (New Zealand) as well as what happens when the same agents are repeatedly provided information in both low- and high-inflation environments (Italy). Our results broadly support models in which inattention is an endogenous outcome that depends on the economic environment.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/279463
    Schriftenreihe: Working paper series / Federal Reserve Bank of Atlanta ; 2023, 8 (July 2023)
    Schlagworte: Inflationserwartung; Wirtschaftsinformation; Geldpolitik; Rationale Erwartung; Randomisierte kontrollierte Studie; inattention; RCTs; inflation expectation
    Umfang: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  13. Tell me something I don't already know
    learning in low and high-inflation settings
    Autor*in: Weber, Michael; Candia, Bernardo; Ropele, Tiziano; Lluberas, Rodrigo; Frache, Serafin; Meyer, Brent; Kumar, Saten; Gorodnichenko, Yuriy; Georgarakos, Dimitris; Coibion, Olivier; Kenny, Geoff; Ponce, Jorge
    Erschienen: July 2023
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    Using randomized control trials (RCTs) applied over time in different countries, we study how the economic environment affects how agents learn from new information. We show that as inflation has recently risen in advanced economies, both households... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 4
    Fernleihe:
    keine Fernleihe

     

    Using randomized control trials (RCTs) applied over time in different countries, we study how the economic environment affects how agents learn from new information. We show that as inflation has recently risen in advanced economies, both households and firms have become more attentive and informed about inflation, leading them to respond less to exogenously provided information about inflation and monetary policy. We also study the effects of RCTs in countries where inflation has been consistently high (Uruguay) and low (New Zealand) as well as what happens when the same agents are repeatedly provided information in both low- and high-inflation environments (Italy). Our results broadly support models in which inattention is an endogenous outcome that depends on the economic environment.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/279003
    Schriftenreihe: Discussion paper series / IZA ; no. 16305
    Schlagworte: Inflationserwartung; Wirtschaftsinformation; Geldpolitik; Rationale Erwartung; Randomisierte kontrollierte Studie; inattention; RCTs; inflation expectations
    Umfang: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  14. Do you even crypto, bro?
    cryptocurrencies in household finance
    Autor*in: Weber, Michael; Candia, Bernardo; Coibion, Olivier; Gorodnichenko, Yuriy
    Erschienen: July 2023
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    Using repeated large-scale surveys of U.S. households, we study the cryptocurrency investment decisions and motives of households relative to other financial assets. Cryptocurrency holders tend to be young, white, male and more libertarian relative... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 4
    Fernleihe:
    keine Fernleihe

     

    Using repeated large-scale surveys of U.S. households, we study the cryptocurrency investment decisions and motives of households relative to other financial assets. Cryptocurrency holders tend to be young, white, male and more libertarian relative to non-crypto holders. They expect much higher rates of returns for crypto and perceive it as relatively safer than do other households. They also view it as a better hedge against inflation. For those holding cryptocurrencies, changes in Bitcoin prices translate into their purchases of durable goods. Finally, exogenously-provided information about historical returns of cryptocurrencies leads individuals to increase their desired crypto holdings and makes them more likely to actually purchase cryptocurrency subsequently. We compare these views and behaviors to those of households toward other financial assets and argue that cryptocurrency is unique in many of these respects.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/279033
    Schriftenreihe: Discussion paper series / IZA ; no. 16335
    Schlagworte: cryptocurrency; household finance; surveys
    Umfang: 1 Online-Ressource (circa 61 Seiten), Illustrationen