We study the effects of lottery winning on consumption spending using newly available household survey data in Singapore. We find strong consumption responses to a transitory income shock via lottery wins. Lottery winners spend about half of their prizes within 12 months of winning. We show that...

Tax reforms involve welfare changes that need to be consistently measured. Pivotal parameter in such empirical efforts is the Elasticity of Taxable Income (ETI). This paper contributes to the estimation of the ETI in developing economies. We rely on a research design based on Ecuador's...

This study documents a significant relation between changes in commodity prices and investors’ price sensitivity in the market for mutual funds. Specifically, price sensitivity⸺defined as the negative relation between fund-level flows and a fund’s cost of ownership⸺is more pronounced in...

In this paper we analyze dynamic demand elasticity for Bitcoin and Ethereum in terms of price, transaction fees, and energy usage. We find that while both BTC and ETH have significantly positive price elasticities, transaction fee elasticity is negative and positive for BTC and ETH respectively,...

Understanding the diversity of the residential demand for various electrical services is critical for utilities and policymakers in effective demand side management. However, previous research has usually treated the household as a unit of analysis, and thus may ignore the fact that household...