What Is Consumer Confidence?

Jean-Paul L’Huillier, Robert Waldmann () and Donghoon Yoo ()
Authors registered in the RePEc Author Service: Jean-Paul L'Huillier

ISER Discussion Paper from Institute of Social and Economic Research, Osaka University

Abstract: This paper offers a structural interpretation of survey measures of consumer confidence. To this end, we consider a simple consumption model with noisy information about fundamentals and estimate a model-based measure of consumer confidence using national accounts. We show that the model-implied measure corresponds well to fluctuations in confidence survey data for the U.S. and a host of European countries. Our analysis provides an informational mechanism to conceptualize and interpret these widely used confidence indices.

Date: 2021-06, Revised 2022-12
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:dpr:wpaper:1135r

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