2020
DOI: 10.1016/j.iref.2020.04.012
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Does confidence matter for economic growth? An analysis from the perspective of policy effectiveness

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Cited by 14 publications
(17 citation statements)
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“…According to Guo and He (2020), when agents feel more optimistic they tend to decrease their preventive savings and become more aggressive in consumption and investment. As a result, the economy improves through optimistic behavior.…”
Section: Resultsmentioning
confidence: 99%
See 1 more Smart Citation
“…According to Guo and He (2020), when agents feel more optimistic they tend to decrease their preventive savings and become more aggressive in consumption and investment. As a result, the economy improves through optimistic behavior.…”
Section: Resultsmentioning
confidence: 99%
“…Ilut and Saijo (2021) indicated that a lack of confidence can discourage economic activities and lead the economy into a recession. Guo and He (2020) highlight that when agents have pessimistic expectations, they can adopt conservative behaviors in consumption and investment, making the economy more sensitive Sentiment and economic activity in Brazil to changes in confidence. In addition, these negative shocks seem to ratify the idea that only information processed long enough has the expected impact.…”
Section: Sentiment and Economic Activity In Brazilmentioning
confidence: 99%
“…Some studies apply consumer confidence (or sentiment) to analyze macroeconomic activities, such as household decisions on debt and savings [39]; consumer spending, business cycles and economic growth [10,[40][41][42][43][44][45][46][47], financial stability [48,49], and tourism demand [50]. For example, Acemoglu and Scott [10] apply the consumption capital asset pricing model (CAPM) to U.K. data and show that consumer confidence has forecasting ability for the level of consumption.…”
Section: Literature Reviewmentioning
confidence: 99%
“…Consumer confidence is a crucial factor explaining households’ aggregate consumption (e.g., Gillitzer and Prasad 2018 ; Fuhrer 1993 ; Acemoglu and Scott 1994 ; Hemming et al 2002 ), households’ savings and investment (Vanlaer et al 2020 ; Mishkin 1978 ; Hemming et al 2002 ), household financial decisions (Białowolski 2019 ), economic growth (Matsusaka and Sbordone 1995 ; Guo and He 2020 ), productivity (Barsky and Sims 2012 ), and a variety of political behavior such as trust in government (Chanley et al 2000 ) and voters’ support for government (Indridason 2014 ). Bachman and Sims ( 2012 ) argue that household confidence plays a crucial role in the transmission of government spending shocks into economic activity.…”
Section: Introductionmentioning
confidence: 99%