What Does Really Drive Consumer Confidence?
Identifikátory výsledku
Kód výsledku v 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>
Nalezeny alternativní kódy
RIV/61989100:27510/21:10248177
Výsledek na webu
<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>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
What Does Really Drive Consumer Confidence?
Popis výsledku v původním jazyce
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.
Název v anglickém jazyce
What Does Really Drive Consumer Confidence?
Popis výsledku anglicky
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.
Klasifikace
Druh
J<sub>imp</sub> - Článek v periodiku v databázi Web of Science
CEP obor
—
OECD FORD obor
50206 - Finance
Návaznosti výsledku
Projekt
—
Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Ostatní
Rok uplatnění
2021
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
Social Indicators Research
ISSN
0303-8300
e-ISSN
—
Svazek periodika
2021
Číslo periodika v rámci svazku
155
Stát vydavatele periodika
NL - Nizozemsko
Počet stran výsledku
29
Strana od-do
885-913
Kód UT WoS článku
000617851400002
EID výsledku v databázi Scopus
2-s2.0-85100844659