What Does Really Drive Consumer Confidence?
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F04274644%3A_____%2F21%3A%230000763" target="_blank" >RIV/04274644:_____/21:#0000763 - isvavai.cz</a>
Alternative codes found
RIV/61989100:27510/21:10248177
Result on the web
<a href="https://link.springer.com/content/pdf/10.1007/s11205-021-02626-6.pdf" target="_blank" >https://link.springer.com/content/pdf/10.1007/s11205-021-02626-6.pdf</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1007/s11205-021-02626-6" target="_blank" >10.1007/s11205-021-02626-6</a>
Alternative languages
Result language
angličtina
Original language name
What Does Really Drive Consumer Confidence?
Original language description
We construct a novel index of households’ macroeconomic environment (HOME) based on the data from 22 high-income European countries between 2002 Q1 and 2018 Q4. The resulting index is in line with the broad features of the countries’ business and financial cycles and captures well households’ perception of their underlying economic situation. We discuss joint properties of the HOME index and the widely employed survey-based consumer confidence indicator. We show that households’ expectations are tightly linked to current macroeconomic conditions. This finding echoes the literature linking consumer attitudes and actual economic developments. The HOME index also reflects the importance of asset prices and lending conditions for households’ behavior. In a single-country case study, we provide empirical evidence that links the proposed index to new credit extended to households. The evidence suggests that households need a longer period of good macroeconomic conditions to decide to take on a mortgage than they do in the case of a consumer loan.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50206 - Finance
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Social Indicators Research
ISSN
0303-8300
e-ISSN
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Volume of the periodical
2021
Issue of the periodical within the volume
155
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
29
Pages from-to
885-913
UT code for WoS article
000617851400002
EID of the result in the Scopus database
2-s2.0-85100844659