Determinants of Foreign Currency Savings: Evidence from Google Search Data

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F16%3A43909831" target="_blank" >RIV/62156489:43110/16:43909831 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.1016/j.sbspro.2016.05.481" target="_blank" >http://dx.doi.org/10.1016/j.sbspro.2016.05.481</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.sbspro.2016.05.481" target="_blank" >10.1016/j.sbspro.2016.05.481</a>

Result language
angličtina
Original language name
Determinants of Foreign Currency Savings: Evidence from Google Search Data
Original language description
This empirical study investigates the economic andpsychological factors influencing the households' saving preferences to savings currency focusing on the European Union (EU) countries outside the euro area with their own currencies. This paper focuses onbasic macroeconomic shocks given by International Fisher Effect, capital account and remittances while a special attention is put on perception and sentiments of economic agents. The main contribution of the paper is based on the sentiment indicators received from Google search data. To estimate the model we applied Bayesian Model Averaging because we have not appropriate economic theory to select Google search keywords.The main findings of this empirical study suggest that foreign currency savings are not affected by earning motives but only by the risks related to depreciation of international remittances and perception of selected risks, e.g. political risks and economic activity.
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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