This paper combines several administrative data and a survey experiment to evaluate the role of lifestyle changes in influencing inflation expectations. Using data from Nielsen's Homescan Panel, as well as a leading bank in Singapore, we first document that households are upgrading across...

This paper tests one specific monetary transmission mechanism through households: portfolio rebalancing. We use a unique panel dataset of household's credit and debit card spending, ATM withdrawals, financial investments into risky assets such as mutual funds and equities, as well as bank...

This paper exploits a natural experiment in India – Inflation Targeting to study how changes in inflation expectations influence households’ consumption, savings, and investments in risky assets. Using regional heterogeneity in inflation expectations by city and city-age-gender bins due to...