Climbing out of an economic crisis: A cycle of consumer sentiment and personal stress
Roxanne I. van Giesen and
Journal of Economic Psychology, 2019, vol. 70, issue C, 109-124
This research examines bidirectional relationships between consumer sentiment and personal stress. It seeks to answer the question whether reduced consumer sentiment (consumer perceptions about the global, national and personal economic situation) raises personal stress levels, and whether increased personal stress levels depresses consumer sentiment. Finding such relationships would reveal a pathway from economic to personal well-being, as reflected in personal stress, and the other way around. A large longitudinal study in the Netherlands with a total of eight waves across three years (2012–2014), 4 waves during and 4 waves after the recent worldwide economic crisis, finds on average low personal stress levels among consumers, which is reassuring. Also and as expected, consumers are more positive about the state of the economy after than during the crisis. Importantly, more positive consumer sentiment indeed contributes to lower levels of personal stress. Moreover, the more personal stress consumers experience, the more pessimistic they are about the state of the economy after the crisis, whereas this connection is weaker during the crisis. This sheds new light on the pathways between consumer sentiment about the economy and their personal well-being.
Keywords: Consumer sentiment; Personal stress; Economic crisis; Longitudinal panel study; Nonrecursive path models (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:70:y:2019:i:c:p:109-124
Access Statistics for this article
Journal of Economic Psychology is currently edited by G. Antonides and D. Read
More articles in Journal of Economic Psychology from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().