Research Discussion Paper – RDP 2016-10 The Effect of Consumer Sentiment on Consumption
November 2016
Contents
- Introduction
- Consumer Sentiment and Partisanship
- Data
- Consumer Sentiment and Consumption
- Relation to the Empirical Literature
- Implications for Macroeconomic Models
- Conclusion
- Appendix A: Reconciliation with Mian et al (2015)
- References
We would like to thank Richard Holden, Greg Kaplan, Christopher Kent, Mariano Kulish, Terra McKinnish, James Morley, Adrian Pagan, Michael Plumb, Bruce Preston, John Simon, Ken West, Yu Zhu and seminar participants at the 2015 RBA Research Workshop, the 2nd WAMS Workshop 2015, the University of Melbourne and the University of Technology Sydney. We are grateful to Linda Packham at FCAI/VFACTS for providing data. Michael Chua at the Melbourne Institute also provided data and ran regressions on the unit record data for us. Opinions expressed are those of the authors, and should not be attributed to the Reserve Bank of Australia or University of New South Wales. The authors are solely responsible for any errors.