My research has a strong interdisciplinary focus and aim to explore how technology, digital intelligence, algorithm, and social science can transform corporates, policy and humanity. My research interest utilizing the above core strength span several topics in Fintech AI, Household finance, Sustainability. I use a data based approach and exploit policy shocks in emerging markets like India, to study the above mentioned topics and its impact on consumer behaviour. The research has implications for business, government agencies  and monetary authorities in India. I work closely with them to use the results of my research towards practical implications. 

Selected Working Papers:

1. The Human Costs of Business Cycles: Evidence from Computer Vision 

(with Francesco D'Acunto, Bin Li and Alberto Rossi)

2. Animal Spirits on Steroids: Evidence from Retail Options Trading in India 

(with V. Agarwal, N. Prabhala, H.Zhao)

3. Household Portfolio and Deposit Insurance: Implications for the Supply of Safe Assets 

(with Nishant Vats and Nicola Limodio)

4. Divine Catalysts: Religion and Portfolio Choices  

(with M. Bonelli, S. L.  Naaraayanan , P, Tak)

5. Open Payment Infrastructure and Market Participation: The Role of Interoperability in Financial Inclusion 

(with M. Ayyagari, N. Kulkarni , Y. Cheng)

6. Cross-Platform Digital Payments and Customer-Driven Data Sharing: Implications for Credit Access 

(with A. Shashwat, N. Kulkarni, M. Puri)

7. Demographics and Technology Diffusion: Evidence from Mobile Payments 

(With N. Crouzet, A. Gupta, F. Mezzanotti)

8. Accountable Developers, Accessible Homes: Regulatory Pathways to Expanding Home Ownership 

(With Sumit. Agarwal, M. Fan,  A. Sarkar, X. Zhang)

9. Bridging the Information Gap: Sowing the Seeds of Productivity with High-Speed 4G Internet 

(with Sumit. Agarwal, M. Desai, N. Vats)

10. Banking the Unbanked: What do 280 Million New Bank Accounts Reveal about Financial Access? 

     (with Sumit. Agarwal,  A. Shashwat, S. Ghosh , T. Piskorski and A. Seru)

11. Safety Nets, Credit, and Investment: Evidence from a Guaranteed Income Program 

    (with Nishant Vats)

12. Political Partisanship and the Transmission of Fiscal Policy 

(with Alberto Rossi and Francesco D'Acunto)

13.  Political Power-Sharing, Firm Entry, and Economic Growth: Evidence from Multiple Elected Representatives 

(with Harsha Dutta, Arko Sarkar, A., Nishant Vats)

14.  Why Do Financially Unconstrained Individuals Respond to Higher Credit Limits? 

     (with Sumit. Agarwal, A. Shashwat, X. Zhang)

15. Income Tax Exemption Policy and Consumers Consumption and Saving Response.

(with Agarwal, S., Chomsisengphet, S.,  Song, C., Ruan, T., Zhang, M. )

16. Information Frictions and Take-up of Government Credit Programs 

(with Gupta, A., Ponticelli, J., Tesei )

Under Submission:

1.  Consumption Tax and Corporate Product Mix Decisions 

      (with M. Jacob, Y. Kang, J. Zhang)

     Journal of Accounting and Economics (R&R)

2. Shadow Banks on the Rise: Evidence Across Market Segments

(with N. Vats, N. Kulkarni, K. Cramer)

Journal of Financial Economics (R & R)

3. Payments, Deposits and Retail CBDC: Evidence from India

(with Di Maggio, M,  Ghosh, S. K., Yu, A. )

Journal of Financial Economics (R & R)

4. Bridging the Gender Gap in Credit Access: The Role of Bank Competition.

(with  Huang J., Lin, C., Zhnag J.)

Journal of Financial and Quantitative Analysis (R & R)

5. When Jane Goes Green and John Stays Put: The Gender Gap in Sustainable Investing

(with Jian Zhang, Jing Li)

 Journal of Financial and Quantitative Analysis (R & R)

6. Mortgages, Subway and Automobiles 

(with Sumit Agarwal, Soumya Kanti Ghosh, Yeow Hwee Chua, Liuyang She)

 Journal of Public Economics (R & R)

      Selected Publications

1. R. Fishman, P. Ghosh, A. Sarkar, J. Zhang., Dirty Air and Clean Investments: The Impact of Pollution information on ESG investment

Journal of Financial Economics (Accepted)

2. , S.Agarwal,  Ayyagiri, M., Cheng, Y., Ghosh, P., Road to Stock Market Participation

Management Science (Accepted) 

3. Ghosh, P., Valle, B., Zeng, Y. Fintech lending and Cashless Payments.

 Journal of Finance (Forthcoming)

4.  Chu, J., Yang, S.,  Lu, W., Ghosh, P. Efficient Causal Decision Making with One-sided Feedback  [Link ]

ICLR 2025 Conference (accepted)

5. T. Hong, Yang, S., W, Lu., P. Ghosh, Multivariate Zero-Inflated Causal Model for Regional Mobility Restriction Effects on Consumer Spending

 Journal of Causal Inference (Accepted)

6. Agarwal, S., Ghosh, P., Liu, L Do sanitary pads alleviate period poverty and improve girl's educational outcomes? 

The Review of Economics and Statistics ( Accepted)

7. Agarwal, S., Ghosh, P, , Jian, J. Tax Policy Transmission and Household Expenditures 

The Review of Economics and Statistics (Accepted)

8. Francesco D'Acunto, Pulak Ghosh, Alberto Rossi, How Costly are Cultural Biases? Evidence from Fintech, 

Journal of financial Economics (Accepted)

9. Agarwal S, Ghosh, P., Gupta, S, Shashwat, A, Financial Inclusion and Alternate Credit Scoring: Role of Big Data and Machine Learning in Fintech.

Journal of Money, Credit and Banking (Accepted)

10. Garima Sharma, Shreya Tandon, Lisa Ho, Pulak Ghosh and Stephanie Hao., Are Some Firms Better for Women’s Careers?

American Economic Review – Papers and Proceedings, 2025, 115: 232–237

11. Sumit Agarwal, Arzi Abdi, Pulak Ghosh., Urban Noise Pollution and Learning in Developing Economies

      Nature Cities, 2025

12. Agarwal, S., Ghosh, P., Li, J., Ruan , T. Digital Payments and Consumption: Evidence from the 2016 Demonetization in India. 

Review of Financial Studies , 2024, 2550-2585

13. Agarwal, S., Ghosh, P., Ruan , T., Zhang, Y., Transient Customer Response to Data Breaches of Their Information

Management Science, 2024, 4105-4114

14. Agarwal, S. Ghosh, P., Zheng, H. Consumption Response to a Natural Disaster: Evidence of Price and Income Shocks from Chennai Flood

Energy Economics, 2024, 107323

15. Chen, H., Lu, W., Song, R., Ghosh, P., On Learning and Testing of Counterfactual Fairness through Data Preprocessing. 

Journal of the American Statistical Association , 2024, 1286-1296

16. Agarwal, S., Ghosh, P., Zhan, C. Association Between a State-Level Fat Tax and Fast Food Purchases. JAMA Network, 2023

17. Garg, S., Ghosh, P. Tan. B. Vertical Integration and Supply chains, 

Journal of International Economics, 2023

18. Mukherjee, A., Panayotov, G., Sen, R., Dutta H., Ghosh, P., Measuring vaccine effectiveness from limited public health records in data-deficient countries: Framework and estimates from India's second COVID-19 wave, 

Science Advances.  Vol 8 Issue 18, May 2022

19. Yu, M., Lu, W., Yang, S., Ghosh, P. Multiplicative Structural Nested Mean Model for Zero-inated Outcomes 

Biometrika; 2022, 110(2), 519-536.

20. Das, K., Ghosh, P., and Daniels, M. A Semiparametric Bayesian Approach for the analysis of longitudinal data from multiple time-varying related groups. 

Journal of the American Statistical Association , 2021, 116, 558-568.

21. Brown, S., Ghosh, P, Pareek, B., Taylor, K. The protective role of saving: Bayesian analysis of British panel data, 

Journal of Empirical Finance, 2021, 63, 57-72.

22. Brown, S., Ghosh, P., Gray, D., Pareek, B., and Roberts. Saving Behaviour & Biomarkers: A High-Dimensional Bayesian Analysis of British Panel Data, 

The European Journal of Finance, 2021, 27, 1581-1603.

23. Banerjee, T, Mukherjee, G., Dutta, S., and Ghosh, P, A Large-scale Constrained Joint Modeling Approach For Predicting User Activity, Engagement and Churn with Application To Freemium Mobile Games. 

Journal of the American Statistical Association, 2020,  115, 538-554.

24. Pareek, B., Liu, Q., Ghosh, P.  Ask Your Doctor if This Product is Right for You: A Bayesian Zero Inflated Multinomial Joint Model for Drug Requests and Physicians’ Prescriptions 

    Journal of Royal Statistical Society: Series A, 2019, 182,      197-223.

25. Pareek, B, Liu, Q., Ghosh, P., Ask Your Doctor if This Product is Right for You: A Bayesian Zero Inflated Multinomial Joint Model for Drug Requests and Physicians' Prescriptions. 

Journal of the Royal Statistical Society: Series A, 2019, 182 (1), 197-223.

26. Pareek, B, Ghosh, P., Wilson, H., Macdonalds, E., Real-Time Consumer Experience Tracking and the Dynamics of Brand Choice: An Application to the UK General Elections. 

Journal of the American Statistical Association , 2018, 113, 1457-1475.

27. Arnab Mukherji, Satrajit Roychowdhury, Sarah Brown., A Bayesian Joint Model for Hospitalization and Out-of-Pocket Expenditures with Application to Aging Population

     Journal of Applied Econometrics, 2016, 31, 1140-1158.

28. Sriram, K., Shi, P., ghosh, P. Insurance Production Costs: An Examination Using a Bayesian Semiparametric Quantile Regression

Journal of Royal Statistical Society: Series A, 2016, 177-202.

29. Voleti, S., Kopalle, P., Ghosh, P. A Dynamic Measure of Attribute Based Inter-Product Competition: An Application to the Category Profit Maximization Problem

Management Science , 2015, 2720-2738.

30. Hong, G., Yue, R. Y., Ghosh, P. Bayesian Estimation of Long-Term Health Consequences of Obese and Normal-Weight Elderly

Journal of Royal Statistical Society: Series A, 2015, 178, 725-740.

31. G. Durham, J. Geweke, Ghosh, Pulak. A note on Consistent estimation of a dynamic jump intensity model with implications for option pricing

     Journal of Financial Economics, 2015, 115, 210-214.

32. Voleti, S. Ghosh, P. A non-parametric model of residual brand equity in hierarchical branding structures with application to US beer data

Journal of the Royal Statistical Society: Series A, 2014, 177, 135–152.

33. Wai, M. Tu, W, Ghosh, P., Tiwari, R. A Nested Dirichlet Process Analysis of Cluster Randomized Trial Data with Application in Geriatric Care Assessment.

Journal of the American Statistical Association, 2013, 108, 48–68.

34. Neelon, b., Loebs, P., Ghosh, PA Spatial Poisson Hurdle Model for Exploring Geographic Variation in Emergency Department Visits

Journal of the Royal Statistical Society: Series A, 2012, 176 (2), 389–413.

35. Park, Y. H., Park, C., Ghosh, P. Modeling Member Behaviors in User-Generated Content Sites: A Semiparametric Bayesian Approach

Journal of the Royal Statistical Society: Series A, 2011, 1051-1069.

36. Lachos, V.,  Arellano-Valle, r. B., Ghosh, P. Likelihood based inference for skew-normal independent linear mixed models

Statistica Sinica, 2010, 20, 303-322.

37. Ghosh, P., Basu, S., Tiwari, R. C. Bayesian Analysis of Cancer Rates from SEER Program Using Parametric and Semiparametric Joinpoint Regression Models

Journal of the American Statistical Association, 2009, 104, 439-452.