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| Author: | Abderrezak, A. |
| Title: | Consumer expectations and cyclical durations |
| Journal: | Quarterly Review of Economics and Finance
1997 : VOL. 37:4, p. 843-858 |
| Index terms: | CONSUMER EXPECTATIONS DURATION ANALYSIS ECONOMICS |
| Language: | eng |
| Abstract: | Do variations in consumer expectations lead to changes in business-cycle durations? Intuitively, the answer is the affirmative. In this study it is postulated that expectations are self-fulfilling; optimistic sentiments postpone cyclical peaks and promote cyclical troughs, and pessimistic sentiments result in the opposite combination. First, it is shown that the hypothesis that consumer expectations do not Granger-cause cyclical duration is rejected. |
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