Trust in financial sector shapes long-term consumption patterns


A Netherlands Bank working paper argues that general economic indicators are insufficient in explaining changes in consumer sentiment, singling out trust in the financial sector as an equally important determinant.

Based on a monthly time series analysis from 1978 onwards, What Drives Consumer Confidence in Times of Financial Crises? Evidence for the Netherlands by Paul Neisingh and Ad Stokman, identifies three "drivers of consumer sentiment": general economic indicators, animal spirits and

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