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Consumer Confidence in Portugal: What Does it Really Matter?

António Caleiro, Andreia Teixeira Marques Dionísio (andreia@uevora.pt) and Esmeralda Ramalho (eramalho@iseg.ulisboa.pt)
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Andreia Teixeira Marques Dionísio: University of Évora, Department of Management, CEFAGE-UÉ

Authors registered in the RePEc Author Service: Andreia Dionisio

CEFAGE-UE Working Papers from University of Evora, CEFAGE-UE (Portugal)

Abstract: Confidence, in general, and consumer confidence, in particular, are subject to an increasing interest by many agents, such as central banks and governments, at a national level, as well as by supra-national entities, such as the European Commission of the European Union. Although this interest is shared by the academic community, the literature in this area is mainly focussed on the use of consumer confidence to predict variables which describe the business cycle, like consumption. Instead, the objective of our paper is to analyse the evolution of consumer confidence in Portugal and examine which factors underpin its formation. Our empirical study uses monthly data for the period January 1987 — December 2008. We find that consumer confidence, besides presenting some inertia, is basically explained by electoral circumstances.

Keywords: Consumer confidence; Elections; Portugal. (search for similar items in EconPapers)
JEL-codes: C51 E21 E27 E32 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2009
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Related works:
Working Paper: Consumer confidence in Portugal – What Does it Really Matter? (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:cfe:wpcefa:2009_13

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