Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212451 
Authors: 
Year of Publication: 
2019
Series/Report no.: 
Bank of Finland Research Discussion Papers No. 17/2019
Publisher: 
Bank of Finland, Helsinki
Abstract: 
I provide a measure of household uncertainty available for European Union (EU) countries. The measure draws from the same consumer survey data used to construct widely-used consumer sentiment indices. I find that increases in household uncertainty are followed by declines in consumer sentiment and household financial conditions. Using Euro Area-wide indices, I also find that the effects of increases in household uncertainty differ from increases in uncertainty from other sources such as financial markets and economic policy. Notably, household uncertainty shocks are inflationary. These results challenge the notion that (household) uncertainty shocks act like negative demand shocks.
JEL: 
C32
D84
E37
Persistent Identifier of the first edition: 
ISBN: 
978-952-323-291-4
Document Type: 
Working Paper

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