The downside of being upbeat: The effects of consumer optimism on real economic activity
Author
Abstract
Suggested Citation
Note: LCERPA Working Paper No. 2019-1. Online appendix is available at http://www.lcerpa.org/public/papers/LCERPA_2019_1_onlineappendix.pdf
Download full text from publisher
References listed on IDEAS
- Bovi, Maurizio, 2009. "Economic versus psychological forecasting. Evidence from consumer confidence surveys," Journal of Economic Psychology, Elsevier, vol. 30(4), pages 563-574, August.
- Annamaria Lusardi & Olivia Mitchell, 2006.
"Financial Literacy and Retirement Preparedness: Evidence and Implications for Financial Education Programs,"
Working Papers
wp144, University of Michigan, Michigan Retirement Research Center.
- Lusardi, Annamaria & Mitchell, Olivia S., 2007. "Financial literacy and retirement preparedness: Evidence and implications for financial education programs," CFS Working Paper Series 2007/15, Center for Financial Studies (CFS).
- J. A. García & Rosa Rodriguez-Sánchez & J. Fdez-Valdivia, 2016. "Why the referees’ reports I receive as an editor are so much better than the reports I receive as an author?," Scientometrics, Springer;Akadémiai Kiadó, vol. 106(3), pages 967-986, March.
- 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.
- Robert B. Barsky & Eric R. Sims, 2009. "Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence," NBER Working Papers 15049, National Bureau of Economic Research, Inc.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Claus, Edda & Nguyen, Viet Hoang, 2018. "Consumptor economicus: How do consumers form expectations on economic variables?," Journal of Economic Behavior & Organization, Elsevier, vol. 152(C), pages 254-275.
- Claus, Edda & Nguyen, Viet Hoang, 2023. "Biased expectations," European Economic Review, Elsevier, vol. 154(C).
- Elisabeth Beckmann & Isabella Moder, 2013. "Households’ Expectations and Macroeconomic Outcomes – Evidence from the Euro Survey," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 4, pages 65-76.
- 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.
- Abildgren, Kim & Hansen, Niels Lynggård & Kuchler, Andreas, 2018. "Overoptimism and house price bubbles," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 1-14.
- Yoshihiko Kadoya & Mostafa Saidur Rahim Khan, 2018.
"Can financial literacy reduce anxiety about life in old age?,"
Journal of Risk Research, Taylor & Francis Journals, vol. 21(12), pages 1533-1550, December.
- KADOYA Yoshihiko & Mostafa Saidur Rahim KHAN, 2016. "Can Financial Literacy Reduce Anxiety about Life in Old Age?," Discussion papers 16076, Research Institute of Economy, Trade and Industry (RIETI).
- Jang, Tae-Seok & Sacht, Stephen, 2017. "Modeling consumer confidence and its role for expectation formation: A horse race," Economics Working Papers 2017-04, Christian-Albrechts-University of Kiel, Department of Economics.
- Annamaria Lusardi & Olivia S. Mitchell, 2008.
"Planning and Financial Literacy: How Do Women Fare?,"
American Economic Review, American Economic Association, vol. 98(2), pages 413-417, May.
- Annamaria Lusardi, 2006. "Planning and Financial Literacy: How Do Women Fare?," Working Papers wp136, University of Michigan, Michigan Retirement Research Center.
- Annamaria Lusardi & Olivia S. Mitchell, 2008. "Planning and Financial Literacy: How Do Women Fare?," CeRP Working Papers 72, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Lusardi, Annamaria & Mitchell, Olivia S., 2008. "Planning and financial literacy: How do women fare?," CFS Working Paper Series 2008/03, Center for Financial Studies (CFS).
- Annamaria Lusardi & Olivia S. Mitchell, 2008. "Planning and Financial Literacy: How Do Women Fare?," NBER Working Papers 13750, National Bureau of Economic Research, Inc.
- Ahmed, M. Iqbal & Cassou, Steven P., 2021. "Asymmetries in the effects of unemployment expectation shocks as monetary policy shifts with economic conditions," Economic Modelling, Elsevier, vol. 100(C).
- Goda, Gopi Shah & Manchester, Colleen Flaherty & Sojourner, Aaron J., 2014.
"What will my account really be worth? Experimental evidence on how retirement income projections affect saving,"
Journal of Public Economics, Elsevier, vol. 119(C), pages 80-92.
- Gopi Shah Goda & Colleen Flaherty Manchester & Aaron Sojourner, 2012. "What Will My Account Really Be Worth? An Experiment on Exponential Growth Bias and Retirement Saving," Working Papers WR-873-2, RAND Corporation.
- Gopi Shah Goda & Colleen Flaherty Manchester & Aaron Sojourner, 2012. "What Will My Account Really Be Worth? An Experiment on Exponential Growth Bias and Retirement Saving," NBER Working Papers 17927, National Bureau of Economic Research, Inc.
- Gopi Shah Goda & Colleen Flaherty Manchester & Aaron Sojourner, 2013. "Do Income Projections Affect Retirement Saving?," Issues in Brief ib2013-4, Center for Retirement Research.
- Matthew Fisher & Milica Mormann, 2022. "The Off by 100% Bias: The Effects of Percentage Changes Greater than 100% on Magnitude Judgments and Consumer Choice [Numerosity and Consumer Behavior]," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 49(4), pages 561-573.
- Metiu, Norbert, 2021.
"Anticipation effects of protectionist U.S. trade policies,"
Journal of International Economics, Elsevier, vol. 133(C).
- Metiu, Norbert, 2020. "Anticipation effects of protectionist U.S. trade policies," Discussion Papers 52/2020, Deutsche Bundesbank.
- Beshears, John & Choi, James J. & Laibson, David & Madrian, Brigitte C., 2011.
"Behavioral economics perspectives on public sector pension plans,"
Journal of Pension Economics and Finance, Cambridge University Press, vol. 10(2), pages 315-336, April.
- John Beshears & James J. Choi & David Laibson & Brigitte C. Madrian, 2010. "Behavioral Economics Perspectives on Public Sector Pension Plans," NBER Chapters, in: The Economics of State and Local Pensions, pages 315-336, National Bureau of Economic Research, Inc.
- Beshears, John & Choi, James J. & Laibson, David & Madrian, Brigitte C., 2011. "Behavioral Economics Perspectives on Public Sector Pension Plans," Working Paper Series 11-013, Harvard University, John F. Kennedy School of Government.
- John Beshears & James J. Choi & David Laibson & Brigitte C. Madrian, 2011. "Behavioral Economics Perspectives on Public Sector Pension Plans," NBER Working Papers 16728, National Bureau of Economic Research, Inc.
- Beshears, John Leonard & Choi, James J. & Laibson, David I. & Madrian, Brigitte, 2011. "Behavioral Economics Perspectives on Public Sector Pension Plans," Scholarly Articles 4723207, Harvard Kennedy School of Government.
- Beshears, John Leonard & Choi, James J. & Laibson, David I. & Madrian, Brigitte, 2011. "Behavioral Economics Perspective on Public Sector Pension Plans," Scholarly Articles 9647369, Harvard Kennedy School of Government.
- Marlène Isoré, 2012. "Essays in macro-finance [Essais de macro-finance]," SciencePo Working papers Main tel-03669376, HAL.
- Noviarini, Jelita & Coleman, Andrew & Roberts, Helen & Whiting, Rosalind H., 2023. "Financial literacy and retirees' resource allocation decisions in New Zealand," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
- Di Bella, Gabriel & Grigoli, Francesco, 2019.
"Optimism, pessimism, and short-term fluctuations,"
Journal of Macroeconomics, Elsevier, vol. 60(C), pages 79-96.
- Gabriel Di Bella & Mr. Francesco Grigoli, 2018. "Optimism, Pessimism, and Short-Term Fluctuations," IMF Working Papers 2018/001, International Monetary Fund.
- Florian Deuflhard & Dimitris Georgarakos & Roman Inderst, 2019.
"Financial Literacy and Savings Account Returns,"
Journal of the European Economic Association, European Economic Association, vol. 17(1), pages 131-164.
- Inderst, Roman & Georgarakos, Dimitris & Deuflhard, Florian, 2014. "Financial Literacy and Savings Account Returns," CEPR Discussion Papers 9882, C.E.P.R. Discussion Papers.
- Deuflhard, Florian & Georgarakos, Dimitris & Inderst, Roman, 2015. "Financial literacy and savings account returns," IMFS Working Paper Series 88, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Georgarakos, Dimitris & Inderst, Roman & Deuflhard, Florian, 2015. "Financial literacy and savings account returns," Working Paper Series 1852, European Central Bank.
- Deuflhard, Florian & Georgarakos, Dimitris & Inderst, Roman, 2014. "Financial Literacy and Savings Account Returns," MPRA Paper 53857, University Library of Munich, Germany.
- Dan Goldhaber & Cyrus Grout, 2016. "Pension Choices and the Savings Patterns of Public School Teachers," Education Finance and Policy, MIT Press, vol. 11(4), pages 449-481, Fall.
- Lusardi, Annamaria & Mitchell, Olivia S., 2011.
"Financial literacy and retirement planning in the United States,"
Journal of Pension Economics and Finance, Cambridge University Press, vol. 10(4), pages 509-525, October.
- Annamaria Lusardi & Olivia S. Mitchell, 2011. "Financial Literacy and Retirement Planning in the United States," CeRP Working Papers 107, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Annamaria Lusardi & Olivia S. Mitchell, 2011. "Financial Literacy and Retirement Planning in the United States," NBER Working Papers 17108, National Bureau of Economic Research, Inc.
- Hussain, Syed M. & Liu, Lin, 2016. "A note on the Cogley–Nason–Sims approach," Economics Letters, Elsevier, vol. 146(C), pages 77-81.
More about this item
Keywords
Cognitive Bias; Saving; Borrowing; Consumption; Expectations Survey Data;All these keywords.
JEL classification:
- E71 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BEC-2019-05-20 (Business Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wlu:lcerpa:0117. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Glen Stewart (email available below). General contact details of provider: https://edirc.repec.org/data/sbwluca.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.