A Novel Approach to Measuring Consumer Confidence

Bert de Bruijn, René Segers and Philip Hans Franses

No EI 2014-30, Econometric Institute Research Papers from Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute

Abstract: This paper puts forward a new data collection method to measure daily consumer confidence at the individual level. The data thus obtained allow to statistically analyze the dynamic correlation of such a consumer confidence indicator and to draw inference on transition rates. The latter is not possible for currently available monthly data collected by statistical agencies on the basis of repeated cross-sections. In an application to measuring Dutch consumer confidence, we show that the incremental information content in the novel indicator helps to better forecast consumption.

Keywords: Consumer confidence; Randomized sampling; Markov transition model; consumption (search for similar items in EconPapers)
JEL-codes: C33 C42 C81 E20 (search for similar items in EconPapers)
Pages: 20
Date: 2014-11-01
New Economics Papers: this item is included in nep-ecm and nep-mac
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Journal Article: A novel approach to measuring consumer confidence (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ems:eureir:77640

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