Clima di fiducia e spesa delle famiglie: il ruolo dell'incertezza secondo un'analisi disaggregata per tipologia di consumo e fasce di reddito
The aim of the paper is to evaluate the relationship between consumption and consumers’climate, controlling for the effect of different time periods and of socio-political factors. We find that confidence significantly contributes in explaining consumption behaviour when the cyclical situation shows considerable volatilità. However, the role of confidence does not seem to be influenced by either psychological or political factors (Katona, 1951). In this sense, it may be better explained as a proxy of uncertainty on future income or liquidity constraints. Some evidence of an impact of heterogeneity in consumers opinion formation also emerges (Souleles, 2004).
Volume (Year): 97 (2007)
Issue (Month): 2 (March-April)
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