Consumer Confidence and the Japanese Economy -Comparison of Pre- and Post-Bubble Period-

Atsuo Utaka ()
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Atsuo Utaka: Kyoto University

Economics Bulletin, 2014, vol. 34, issue 2, 1165-1173

Abstract: This paper investigates the effect of confidence on the Japanese economy by using vector autoregressions. Especially, I divide the total estimation period into two parts, pre- and post-bubble periods, and analyze the transition of that effect through the ages. It is shown that consumer confidence has a significant effect on GDP. Moreover, that effect becomes larger in a post-bubble period than in a pre-bubble period, which implies that the low level of confidence has worsened the economic condition in the lost (two) decade(s) after the bubble period.

Keywords: consumer confidence; GDP fluctuations (search for similar items in EconPapers)
JEL-codes: E2 E3 (search for similar items in EconPapers)
Date: 2014-06-01
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Citations: View citations in EconPapers (4)

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