The Efects of Cryptocurrency Wealth on Household Consumption and Investment

Authors

• Darren Aiello, Brigham Young University - ProvoFollow
• Scott R. Baker, Northwestern University
• Tetyana Balyuk, Emory University
• Marco Di Maggio, Harvard University
• Mark Johnson, Brigham Young University - Provo
• Jason Kotter, Brigham Young University - ProvoFollow

Keywords

crypto investing, wealth effects, local economic spillovers

Abstract

We use bank transaction data from millions of U.S. households to:

1. Characterize retail crypto investing
2. Examine the efect of crypto wealth on consumption and investment behavior
3. Zoom in on the efect of crypto wealth on housing spending
4. Document spillovers of crypto wealth to the local economy

BYU ScholarsArchive Citation

Aiello, Darren; Baker, Scott R.; Balyuk, Tetyana; Maggio, Marco Di; Johnson, Mark; and Kotter, Jason, "The Efects of Cryptocurrency Wealth on Household Consumption and Investment" (2024). Faculty Publications. 9203.
https://scholarsarchive.byu.edu/facpub/9203

Document Type

Presentation

Publication Date

2024

Language

English

College

Marriott School of Business

Department

Finance

University Standing at Time of Publication

Assistant Professor

Copyright Use Information

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