Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/142693
Authors: 
Caleiro, António
Year of Publication: 
2003
Series/Report no.: 
Documento de Trabalho 2003/11
Abstract: 
It is rather evident that there is much more (statistical) information about objective aggregates, such as inflation, output or unemployment than that concerning subjective aggregates, such as well-being, satisfaction, confidence or even expectations. Due to its characteristics, fuzzy logic can and should indeed be used to understand how some of those subjective measures can be approximated by objective ones. This task is accomplished in the paper by the use of Portuguese data on consumer confidence – the subjective economic measure – and on the unemployment rate – the objective economic measure –. The results clearly indicate that to be a worthwhile exercise as the clear importance of unemployment on confidence is only revealed by the fuzzy logic approximation.
Subjects: 
Confidence
Fuzzy Logic
Objective Measures
Subjective Measures
JEL: 
C10
C82
E32
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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