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Respondent Dynamics within the NZIER Survey of Business Opinion: An Introductory Perspective

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Abstract

This paper considers respondent dynamics within the NZIER quarterly survey of business opinion. The paper concentrates mainly on the potential usefulness of matched and individual survey responses with particular reference to business confidence. The main framework is a three-by-three matrix of responses by firms who have participated in adjacent surveys. This framework provides information on the dynamics (flows) of business opinion as opposed to the usual published information on end-of-period net balances (stocks). The paper highlights the volatility of business opinion with respect to both economy-wide and own-outlook. Almost half the firms replying to adjacent surveys, for example, changed their outlook between quarters regarding business confidence, output and profitability.

Suggested Citation

  • Brian Silverstone, 2000. "Respondent Dynamics within the NZIER Survey of Business Opinion: An Introductory Perspective," Working Papers in Economics 00/03, University of Waikato.
    • Handle: RePEc:wai:econwp:00/03
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    File URL: https://repec.its.waikato.ac.nz/wai/econwp/0003.pdf
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    References listed on IDEAS

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    1. Robert A. Buckle & John A. Carlson, 2000. "Inflation and Asymmetric Price Adjustment," The Review of Economics and Statistics, MIT Press, vol. 82(1), pages 157-160, February.
    2. Balcombe, Kelvin, 1996. "The Carlson-Parkin method applied to NZ price expectations using QSBO survey data," Economics Letters, Elsevier, vol. 51(1), pages 51-57, April.
    3. Buckle, Robert A. & Carlson, John A., 2000. "Menu costs, firm size and price rigidity," Economics Letters, Elsevier, vol. 66(1), pages 59-63, January.
    4. Buckle, Robert A & Meads, Chris S, 1991. "How Do Firms React to Surprising Changes to Demand? A Vector Autoregressive Analysis Using Business Survey Data," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 53(4), pages 451-466, November.
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    Cited by:

    1. Andrew Coleman & Brian Silverstone, 2007. "Price changes by firms in New Zealand - some evidence from the Quarterly Survey of Business Opinion," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 70, September.

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    More about this item

    Keywords

    business confidence; sentiment; panel data; business surveys;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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