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firm in a dynamic environment according to decisions about production depending on expectations. The model incorporates the … formation of expectations in a market environment by propagation of sentiment between heterogeneous agents with limited … rationality. When incorporating expectations about the real interest rate, seen as a so-called prime mover according to the OECD …
Persistent link: https://www.econbiz.de/10011210086
Consumer sentiment has the ability to provide researchers with many avenues to test existingFinance and Economic theories. Chapter 1 introduces the issues that I seek to explore within the area ofBehavioral Finance. Chapter 2 utilizes thirty years of consumer sentiment data to explore...
Persistent link: https://www.econbiz.de/10009468624
Consumer sentiment has the ability to provide researchers with many avenues to test existing Finance and Economic theories. Chapter 1 introduces the issues that I seek to explore within the area of Behavioral Finance. Chapter 2 utilizes thirty years of consumer sentiment data to explore extant...
Persistent link: https://www.econbiz.de/10009451110
Economic crisis is a recurrent reference in recent analysis of consumers. The present study, referred to Italy, focuses on the period 2009-2010 and aims at analyzing: 1. consumers' perceptions about the crisis; 2. consumers' reactions to it. The study has a descriptive-explorative nature and...
Persistent link: https://www.econbiz.de/10010968592
This paper examines the relationship between consumer confidence and consumption expenditures in the US for the period 1970:1-2007:4. Consumer confidence surveys are widely reported in the business and economics media and play an important role in the direction of business decisions and equity...
Persistent link: https://www.econbiz.de/10010927822
This paper studies the dynamic effects of the fiscal policy shock on private activity using an array of vector autoregressive models for the post-war US data. We are particularly interested in the role of consumer sentiment in the transmission of the government spending shock. Our major findings...
Persistent link: https://www.econbiz.de/10011213952
The aim of the paper is to assess the role of the Italian Consumer Sentiment Index (CSI) as an autonomous driving force of consumption decisions. We test for the presence of “rule of thumb” consumers as originally proposed by Cambell and Mankiw (1991), using sentiment measures distinguished...
Persistent link: https://www.econbiz.de/10011258877
This paper finds that a benchmark model of habit formation in consumer preferences can explain two well-known failures of the permanent income hypothesis: the sensitivity of aggregate consumption to predictable changes in income and to lagged consumer sentiment. One novel feature of the paper's...
Persistent link: https://www.econbiz.de/10005086861
expectations. I ask wether monetary policy can offset these aggregate demand disturbances and wether this offsetting is socially …
Persistent link: https://www.econbiz.de/10005342968
This paper examines whether the disaggregation of consumer sentiment data into its sub-components improves the real-time capacity to forecast GDP and consumption. A Bayesian error correction approach augmented with the consumer sentiment index and permutations of the consumer sentiment...
Persistent link: https://www.econbiz.de/10005264635