Good news, bad news, consumer sentiment and consumption behavior

Journal of Economic Psychology

Volumn 39, Issue , 2013, Pages 426-438

  Nguyen, Viet Hoang ^a   Claus, Edda ^a,b  

^a UNIVERSITY OF MELBOURNE   (Australia)

^b AUSTRALIAN NATIONAL UNIVERSITY   (Australia)

Author keywords

Consumer sentiment; Consumption; Negativity bias; News

Indexed keywords

EID: 84888136724     PISSN: 01674870     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.joep.2013.10.001     Document Type: Article

References (29)

1. Acemoglu D., Scott A. Consumer confidence and rational expectations: Are agents' beliefs consistent with the theory?. Economic Journal 1994, 104(422):1-19.
2. Barsky R.B., Sims E.R. Information, animal spirits, and the meaning of innovations in consumer confidence. American Economic Review 2012, 102(4):1343-1377.
3. Baumeister R.F., Bratslavsky E., Finkenauer C., Vohs K.D. Bad is stronger than good. Review of General Psychology 2001, 5(4):323-370.
4. Blanchard O.J. Consumption and the recession of 1990-1991. American Economic Review 1993, 83(2):270-274.
5. Bloom H.S., Price H.D. Voter response to short-run economic conditions: The asymmetric effect of prosperity and recession. The American Political Science Review 1975, 69(4):1240-1254.
6. Bryant W.A., Macri J. Does sentiment explain consumption?. Journal of Economics and Finance 2005, 29(1):97-111.
7. Carroll C.D., Fuhrer J.C., Wilcox D.W. Does consumer sentiment forecast household spending? If so, why?. American Economic Review 1994, 84(5):1397-1408.
8. Casey G.P., Owen A.L. Good news, bad news, and consumer confidence. Social Science Quarterly 2012, 10.1111/j.1540-6237.2012.00900.x.
9. Chua C.L., Tsiaplias S. Can consumer sentiment and its components forecast Australian GDP and consumption?. Journal of Forecasting 2009, 28(8):698-711.
10. Cochrane J.H. Shock. Carnegie-Rochester Conference Series on Public Policy 1994, 41:295-364.
11. Dom, M., & Morin, N. (2004). Consumer sentiment, the economy, and the news media. Federal Reserve Bank of San Francisco Working Paper 2004-09.
12. Fellner G., Krügel S. Judgmental overconfidence: Three measures, one bias?. Journal of Economic Psychology 2012, 33(1):142-154.
13. Hall R.R. Macro theory and the recession of 1990-1991. American Economic Review 1993, 83(2):275-279.
14. Harrington D.E. Economic news on television. Public Opinion Quarterly 1989, 53(1):17-40.
15. Kahneman D., Knetsch J.L., Thaler R.H. The endownment effect, loss aversion, and status quo bias. Journal of Economic Perspectives 1991, 5(1):193-206.
16. Kahneman D., Tversky A. Prospect theory: An analysis of decision under risk. Econometrica 1979, 47(2):263-292.
17. Lau R.R. Two explanations for negativity effects in political behavior. American Journal of Political Science 1985, 29(1):119-138.
18. Leahy A., Summers P. Consumer surveys of the Melbourne Institute of Applied Economic and Social Research. Australian Economic Review 2004, 37(4):446-453.
19. Ludvigson S.C. Consumer confidence and consumer spending. Journal of Economic Perspectives 2004, 18(2):29-50.
20. Moscarini G. Limited information capacity as a source of inertia. Journal of Economic Dynamics & Control 2004, 28(10):2003-2035.
21. Reis R. Inattentive consumer. Journal of Monetary Economics 2006, 53(8):1761-1800.
22. Romer C. The great crash and the onset of the great depression. The Quarterly Journal of Economics 1990, 105(3):597-624.
23. Rozin P., Royzman E.B. Negativity bias, negativity dominance, and contagion. Personality and Social Psychology Review 2001, 5(4):296-320.
24. Sims C.A. Implications of rational inattention. Journal of Monetary Economics 2003, 50(3):665-690.
25. Skowronski J.J., Carlston D.E. Negativity and extremity biases in impression formation: A review of explanations. Psychological Bulletin 1989, 105(1):131-142.
26. Soroka S.N. Good news and bad news: Asymmetric responses to economic information. The Journal of Politics 2006, 68(2):372-385.
27. Souleles N. Expectations, heterogenous forecast errors and consumption: micro-evidence from the Michigan consumer sentiment surveys. Journal of Money, Credit and Banking 2004, 36(1):39-72.
28. Utaka A. Confidence and the real economy: The Japanese case. Applied Economics 2003, 35(3):337-342.
29. Vonk R. Negativity and potency effects in impression formation. European Journal of Social Psychology 1996, 26(6):851-865.