This paper examines whether perceptions of discrimination affect the economic expectations of U.S. households. We focus on two forms of expectations that play a central role in economic and financial decisions: labor income and inflation. Using experimental data, we show that discrimination...

This paper shows that household’s saving motives influence key portfolio choice decision: stock market participation. We utilize a unique data set from the Survey of Consumer Finance (2019 and panel 2007-209), which report about 24 reasons for saving and group these intro 6 saving motive...

This paper examines the impact of birth order on financial decision making. In lieu of explanations such as dissimilar parental style across children with different birth orders (due to learning and experience) or the existence of sibling externalities commonly offered in the literature to...

The results of this paper demonstrate an inverse relationship between women’s status in terms of financial equality with men, proxied by gender wage gap, and women’s entrepreneurship participation at the US state level. The gender wage gap affects women’s opportunity cost of the...

This paper examines whether monetary policy affects the portfolio decisions of U.S. households. Contrary to the conventional wisdom, interest rate increases are related to higher equity ownership and higher wealth allocations to risky assets. Inflation hedging is a likely explanation for these...

This paper analyses the prospect of cryptocurrency regulation, especially, on crypto prices, volatility and volume. We employ the Google Trend technique and introduce the Crypto Regulation Sentiment Index (CRSX) that reflects Crypto regulation fear at the US and Global levels. We utilize over...

We present a theoretical and empirical methodology that reflects the Cryptocurrency version of VIX, which we name it as CVIX (Crypto VIX), and captures the future 30 days forward Crypto risk (fear). Our framework is built on idiosyncratic and systematic Crypto risk, and is not based on the...

This paper demonstrates that when companies’ social values are more aligned with households’, then households do exhibit greater propensity to participate in the stock market; tolerate greater financial risk; invest more and trade less, which lowers the overall volatility. Indeed, we create...

We utilize panel data on over 65 countries from the Economist Intelligence Unit about its Democracy level, measured by the level of functioning of government, civil liberties and political participation, etc. and show inverse relationship between Democracy and stock market performance. Our...