消费者情绪在货币政策传导到消费者支出中的作用

IF 1.6 3区经济学 Q2 ECONOMICS

Economica Pub Date : 2025-03-12 DOI:10.1111/ecca.12576

Viet Hoang Dinh

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引用次数: 0

摘要

本文表明，消费者情绪的变化在货币政策对经济活动的传导中起着数量上的重要作用。具体而言，本文的实证估计表明，短期消费者情绪的变化很可能使消费者支出对紧缩性货币政策冲击的负面反应加倍。相比之下，长期消费者情绪在货币政策冲击向消费者支出的传播中只起着很小的作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

The role of consumer sentiment in the transmission of monetary policy to consumer expenditure

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The role of consumer sentiment in the transmission of monetary policy to consumer expenditure

This paper shows that changes in consumer sentiment play a quantitatively important role in the transmission of monetary policy on economic activity. Specifically, the paper's empirical estimates indicate that changes in short-term consumer sentiment may very well double the negative responses of consumer expenditure to contractionary monetary policy shocks. In contrast, long-term consumer sentiment plays only a minimal role in the propagation of monetary policy shocks into consumer expenditure.

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来源期刊

Economica ECONOMICS-

CiteScore

2.40

自引率

0.00%

发文量

审稿时长

5 weeks

期刊介绍： Economica is an international journal devoted to research in all branches of economics. Theoretical and empirical articles are welcome from all parts of the international research community. Economica is a leading economics journal, appearing high in the published citation rankings. In addition to the main papers which make up each issue, there is an extensive review section, covering a wide range of recently published titles at all levels.