ECB paper attempts rigorous testing of economic sentiment
Researchers correlate economic data from 1985 to 2016 with measures of sentiment
A working paper published by the European Central Bank attempts to measure market sentiment in a more comprehensive manner than previous researchers have managed.
In More than a feeling: confidence, uncertainty and macroeconomic fluctuations, Laura Nowzohour and Livio Stracca present monthly data on several economic variables from 27 advanced economies from 1985 to 2016. They investigate how these variables are affected by several measures of economic sentiment, including estimates of consumer
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