Book Review of David Glasner, Business Cycles and Depressions: An Encyclopedia, (ed.), Garland Reference Library of Social Science (Vol. 505), Garland Publishing Inc., New York & London, 1997, pp. XV+779, $95.00(cloth), ISBN 0-8240-0944-4

Using monthly data over 1978:01-1996:12 we examine the usefulness of the Index of Consumer Sentiment (ICS) in predicting aggregate consumption expenditure and its components. Bivariate causality tests in a linear model show the indicator value of ICS in predicting durables consumption. We...