全球智库信息集成服务系统(G2TT): Sentiments and Economic Activity: Evidence from U.S. States

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w23899
来源ID	Working Paper 23899
	Sentiments and Economic Activity: Evidence from U.S. States
	Jess Benhabib; Mark M. Spiegel
发表日期	2017-10-09
出版年	2017
语种	英语
摘要	We examine whether sentiment influences aggregate demand by studying the relationship between the Michigan Survey expectations concerning national output growth and future economic activity at the state level. We instrument for local sentiments with political outcomes, positing that agents in states with a higher share of congressmen from the political party of the sitting President will be more optimistic. This instrument is strong in the first stage, and our results confirm a positive relationship between sentiments and future state economic activity that is robust to a battery of sensitivity tests.
主题	Macroeconomics ; Consumption and Investment ; Business Cycles
URL	https://www.nber.org/papers/w23899
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/581572
推荐引用方式 GB/T 7714	Jess Benhabib,Mark M. Spiegel. Sentiments and Economic Activity: Evidence from U.S. States. 2017.