We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence … rise to multiplicity of house prices. In a dynamic setup, we conceptualize confidence as a realization of rationally … confidence may drive house prices and aggregate consumption. …

We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence … rise to multiplicity of house prices. In a dynamic setup, we conceptualize confidence as a realization of rationally … confidence may drive house prices and aggregate consumption. …

We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence … rise to multiplicity of house prices. In a dynamic setup, we conceptualize confidence as a realization of rationally … confidence may drive house prices and aggregate consumption. …

We study the role of consumer confidence in forecasting real personal consumption expenditure, and contribute to the … confidence not only at the quarterly frequency, but using monthly data as well. Second, we employ real-time data in addition to … commonly used revised vintages. Third, we investigate the role of consumer confidence in a rich information context. We produce …