Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/282438 
Year of Publication: 
2023
Series/Report no.: 
CESifo Working Paper No. 10750
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
This study identifies day-of-the-week effects in business surveys using monthly data from the ifo Institute. The odds are higher that companies are more likely to exhibit more pessimistic business expectations for the upcoming months on Mondays and more optimistic expectations at the end of the week. The same holds for the assessment of the current business situation. Firms are more uncertain about their upcoming business development on Mondays and less uncertain on Saturdays. The effects are mainly driven by firms from the service sector and by companies with less than 50 employees. Although statistically significant, the effects are economically rather small.
Subjects: 
day-of-the-week effect
ifo Business Survey
answering behaviour
expectations
uncertainty
JEL: 
D84
E32
D91
Document Type: 
Working Paper
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