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The Effects of Uncertainties in Economic Policy on Confidence Indices

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  • Saffet Akdağ

    (Yozgat Bozok University)

Abstract

Uncertainties are a factor that impact on decision-making processes of society. Especially the uncertainties in the world of economy closely affect both consumption behavior and investment behavior of the society. In this context, the effect of uncertainties in economic policies on consumer confidence index and producer confidence index representing the confidence of the society in the economy was investigated. Panel causality analysis was carried out between January 2003 and December 2018 for 16 OECD countries and 3 non-OECD countries. According to the results of causality analysis, it is determined that uncertainties in economic policies are the cause for confidence indices.

Suggested Citation

  • Saffet Akdağ, 2020. "The Effects of Uncertainties in Economic Policy on Confidence Indices," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 35(113), pages 139-152, April.
    • Handle: RePEc:acc:malfin:v:35:y:2020:i:113:p:139-152
    DOI: https://doi.org/10.33203/mfy.574113
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    More about this item

    Keywords

    Economy Policy Uncertainty Index; Confidence Index; Panel Causality;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications

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