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Consumer sentiment: its causes and effects

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Author Info
Adrian W. Throop
Abstract

This paper finds that consumer attitudes, as reflected in surveys of consumer sentiment, have a significant influence on household purchases of durable goods. Normally, consumer sentiment moves with current economic conditions and bears a stable relationship to a few economic variables. At times of a major economic or political event like the Gulf War, however, consumer sentiment can move independently from current economic conditions. At such times it provides useful information about future consumer expenditures that is not otherwise available.

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File URL: http://www.frbsf.org/publications/economics/review/1992/92-1_35-59.pdf
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Publisher Info
Article provided by Federal Reserve Bank of San Francisco in its journal Economic Review.

Volume (Year): (1992)
Issue (Month): ()
Pages: 35-59
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Handle: RePEc:fip:fedfer:y:1992:p:35-59:n:1

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Related research
Keywords: Consumer behavior ; Consumption (Economics);

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Roberto Golinelli & Giuseppe Parigi, 2003. "What is this thing called confidence? A comparative analysis of consumer confidence indices in eight major countries," Temi di discussione (Economic working papers) 484, Bank of Italy, Economic Research Department. [Downloadable!]
  2. Jeff Dominitz & Charles F. Manski, 1996. "Perceptions of Economic Insecurity: Evidence from the Survey of Economic Expectations," NBER Working Papers 5690, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Adrian Throop, 1992. "Causes and effects of consumer sentiment," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue Apr 17. [Downloadable!]
  4. Nicholas S. Souleles, 2001. "Consumer Sentiment: Its Rationality and Usefulness in Forecasting Expenditure - Evidence from the Michigan Micro Data," NBER Working Papers 8410, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Keen Meng Choy & Kenneth Leong & Anthony S. Tay, 2003. "Non-Fundamental Expectations and Economic Fluctuations: Evidence from Professional Forecasts," Departmental Working Papers wp0306, National University of Singapore, Department of Economics. [Downloadable!]
    Other versions:
  6. Koen Vermeylen, 2005. "Job Insecurity, Reallocation and Technological Innovation in a Self-Fulfilling Prophecy," The B.E. Journal of Macroeconomics, Berkeley Electronic Press, vol. 0(1). [Downloadable!]
  7. Brigitte Desroches & Marc-André Gosselin, 2002. "The Usefulness of Consumer Confidence Indexes in the United States," Working Papers 02-22, Bank of Canada. [Downloadable!]
  8. C. Alan Garner, 2002. "Consumer confidence after September 11," Economic Review, Federal Reserve Bank of Kansas City, issue Q II. [Downloadable!]
  9. Pami Dua, 2004. "Analysis of Consumers' Perceptions of Buying Conditions for Houses," Working papers 127, Centre for Development Economics, Delhi School of Economics. [Downloadable!]
    Other versions:
  10. Ivan Roberts & John Simon, 2001. "What do Sentiment Surveys Measure?," RBA Research Discussion Papers rdp2001-09, Reserve Bank of Australia. [Downloadable!]
  11. Dion, David Pascal, 2006. "Does Consumer Confidence Forecast Household Spending? The Euro Area Case," MPRA Paper 911, University Library of Munich, Germany. [Downloadable!]
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This page was last updated on 2010-1-2.

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