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Seasonality and consumer confidence

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  • Balázs Zélity

Abstract

This research empirically investigates whether consumer confidence is affected by seasonal daylight fluctuations. Cross‐country panel regressions are run with two different datasets. It is found that both solar elevation and sunlight duration positively affect consumer confidence. The presence of country and year‐by‐month fixed effects as well as controls for the business cycle help rule out alternative explanations. A one standard deviation increase in solar elevation or sunlight duration is associated with a 0.03–0.04 SD increase in consumer confidence.

Suggested Citation

  • Balázs Zélity, 2024. "Seasonality and consumer confidence," Bulletin of Economic Research, Wiley Blackwell, vol. 76(3), pages 813-821, July.
    • Handle: RePEc:bla:buecrs:v:76:y:2024:i:3:p:813-821
    DOI: 10.1111/boer.12449
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • E03 - Macroeconomics and Monetary Economics - - General - - - Behavioral Macroeconomics
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

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