Please use this identifier to cite or link to this item:
https://scholarbank.nus.edu.sg/handle/10635/192621
Title: | ESSAYS IN MONETARY ECONOMICS AND HOUSEHOLD FINANCE | Authors: | CHUA YEOW HWEE | Keywords: | monetary policy, household finance, inflation expectations, portfolio rebalancing | Issue Date: | 1-Mar-2021 | Citation: | CHUA YEOW HWEE (2021-03-01). ESSAYS IN MONETARY ECONOMICS AND HOUSEHOLD FINANCE. ScholarBank@NUS Repository. | Abstract: | This thesis consists of three independent chapters, studying topics in monetary economics and household finance. The first chapter combines several administrative data and a survey experiment to evaluate the role of households’ lifestyle changes in influencing inflation expectations. My findings highlight the relationship between personal experience, product variety and inflation expectations. The second chapter tests one specific monetary transmission mechanism through households: portfolio rebalancing. I find that savers rebalance their portfolio and “reach for yield” when interest rate falls, shifting from safe assets (bank deposits) to more risky assets (mutual funds and equities). The third chapter exploits a natural experiment in India – Inflation Targeting to study how changes in inflation expectations influence households’ consumption, savings deposits and investments in risky assets. I show that households shift their assets away from risky assets to safe assets when there is a fall in inflation expectations. | URI: | https://scholarbank.nus.edu.sg/handle/10635/192621 |
Appears in Collections: | Ph.D Theses (Open) |
Show full item record
Files in This Item:
File | Description | Size | Format | Access Settings | Version | |
---|---|---|---|---|---|---|
ChuaYH.pdf | 4.86 MB | Adobe PDF | OPEN | None | View/Download |
Google ScholarTM
Check
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.