Management summary Research study „The Effect of Consumer Confidence and Subjective Well-being on Consumers‘ Spending Behavior“

The paper examines the effects of consumer confidence and selected well-being indicators on aggregate consumption and its subcomponents in a panel of 22 OECD countries. The method used is the method of generalized moments. Consumer confidence plays a positive role especially in the case of spending on durable and semi-durable goods and also services. Conversely, well-being indicators have a negative impact on the dynamics of spending on semi-durable goods and services. From the point of view of the purpose of spending, it is shown that consumer confidence positively affects all spending except those that can be considered necessary. For well-being indicators, a negative impact was identified on the dynamics of spending on clothing and footwear, recreation and culture, and restaurants and hotels.

Target groups of stakeholders: professional economists

Citation: Mynaříková, L., & Pošta, V. (2022). The Effect of Consumer Confidence and Subjective Well-being on Consumers‘ Spending Behavior. Journal of Happiness Studies, 25 pages. https://doi.org/10.1007/s10902-022-00603-5.

Source: https://link.springer.com/article/10.1007/s10902-022-00603-5