Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/204487 
Autor:innen: 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
LEAF Working Paper Series No. 19-03
Verlag: 
University of Lincoln, Lincoln International Business School, Lincoln Economics and Finance Research Group (LEAF), Lincoln
Zusammenfassung: 
This paper takes an otherwise standard real-business-cycle setup with government sector, and augments it with shocks to consumer confidence to study business cycle fluctuations. A surprise increase in consumer confidence generates higher utility, as the household values consumption more in that scenario. As a test case, the model is calibrated to Bulgaria after the introduction of the currency board (1999-2018). We find that shocks to consumer confidence by themselves cannot be the main driving force behind business cycle fluctuations, but when combined with technology shocks, model performance improves substantially. Therefore, allowing for additional factors, such as consumer confidence, to interact with technology shocks can be useful in explaining business cycle movements.
Schlagwörter: 
consumer confidence shocks
business cycles
Bulgaria
JEL: 
E32
E62
E21
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
948.91 kB





Publikationen in EconStor sind urheberrechtlich geschützt.