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News shocks, consumer confidence and business cycles

open access: yesEconomica, EarlyView.
Abstract We study the causal effects of consumer sentiment shocks on macroeconomic aggregates. By constructing a novel instrument based on major non‐economic news shocks in the USA over 1969–2022, and opinion polls around these events, we identify exogenous changes in consumer confidence.
Syed M. Hussain, Zara Liaqat
wiley   +1 more source

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