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A New Measurement for Japanese Consumer Confidence Index

Author

Listed:
  • Hanako Ohmura

    (Professor, School of Public Policy, Kwansei Gakuin Univeristy)

Abstract

The Consumer confidence index (CCI) has long centered on the psychological aspect of consumers. This paper proposes using Jiji Press poll data for Japan's newly defined CCI instead of the conventional Cabinet Office (CaO) survey. This allows for an additional 40 years of monthly data. Examining the similarity of conventional indices by time series cluster analysis with the derivative dynamic time warping method, this paper demonstrates that the monthly CCI has been consistent with the conventional CaO index since 1963.

Suggested Citation

  • Hanako Ohmura, 2020. "A New Measurement for Japanese Consumer Confidence Index," Economics Bulletin, AccessEcon, vol. 40(2), pages 1557-1569.
    • Handle: RePEc:ebl:ecbull:eb-20-00210
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2020/Volume40/EB-20-V40-I2-P134.pdf
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    References listed on IDEAS

    as
    1. Bachmann, Rüdiger & Sims, Eric R., 2012. "Confidence and the transmission of government spending shocks," Journal of Monetary Economics, Elsevier, vol. 59(3), pages 235-249.
    2. Robert B. Barsky & Eric R. Sims, 2012. "Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence," American Economic Review, American Economic Association, vol. 102(4), pages 1343-1377, June.
    3. E. Kilic & S. Cankaya, 2016. "Consumer confidence and economic activity: a factor augmented VAR approach," Applied Economics, Taylor & Francis Journals, vol. 48(32), pages 3062-3080, July.
    4. George A. Akerlof, 2009. "How Human Psychology Drives the Economy and Why It Matters," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1175-1175.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Consumer confidence index; Consumer survey; Jiji Press poll data; Derivative dynamic time warping; Time series cluster analysis; Japanese economy;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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