consumption and real GDP. In line with BNW, we find that confidence shocks explain a large share of the variance in real economic … contribution to business cycle fluctuations is reduced, confirming the global dimension of confidence shocks. Overall, our evidence … shows that confidence shocks play some role in business cycle fluctuations. At the same time, we show that confidence shocks …

This paper analyses empirically how cross-border consumption varies across product and services categories and across …; it analyses the cross-border consumption behaviour of cross-border commuter households residing in Belgium, France and …, reflecting about 17% of their gross annual income from Luxembourg and contributing about 10% to total household final consumption …