Does Consumer Confidence Forecast Household Saving and Borrowing Behavior? Evidence for Poland

Does Consumer Confidence Forecast Household Saving and Borrowing Behavior? Evidence for Poland Consumer confidence plays an important role in households’ decision-making processes. This study investigates the effects of consumer confidence on household saving and borrowing behavior that are unsatisfactorily considered in previous discussions. The questions of interest are first, whether indexes of consumer confidence have any predictive power on their own for future household saving and borrowing rates, and second, whether they contain information about future household saving and borrowing rates aside from the information contained in other available indicators. In addition to aggregate confidence indicators, their components are used to provide more precise information. Overall, the multiple linear regression analysis (OLS technique) of Polish time-series data gives positive answers to both questions. This finding supports the recommendation of combining the strengths of objective indicators (such as economic fundamentals) and subjective indicators (such as consumer confidence) to improve household financial behavior forecasts. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Social Indicators Research Springer Journals

Does Consumer Confidence Forecast Household Saving and Borrowing Behavior? Evidence for Poland

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Publisher
Springer Netherlands
Copyright
Copyright © 2016 by The Author(s)
Subject
Social Sciences; Sociology, general; Quality of Life Research; Microeconomics; Public Health; Human Geography; Quality of Life Research
ISSN
0303-8300
eISSN
1573-0921
D.O.I.
10.1007/s11205-016-1376-4
Publisher site
See Article on Publisher Site

References

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