Naslov
Identifying the Interdependence between Consumer Confidence and Macroeconomic Developments in Croatia

Autori
Matošec, Marina ; Obuljen Zoričić, Zdenka

Izvornik
Interdisciplinary description of complex systems (1334-4684) 17 (2019), 2-B; 345-354

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
consumer confidence ; consumption ; savings ; GDP ; Granger causality

Sažetak
This article represents an empirical attempt to discern the interrelationship between consumer confidence and macroeconomic trends in Croatia. Previous studies that employ both subjective and objective variables show that consumer confidence, consumption and gross domestic product in other countries are interdependent to a great extent. Apart from the mentioned variables, our study additionally includes savings, as another important determinant in the households’ economic decision making. The results indicate that consumer confidence Granger-causes all selected macroeconomic variables and vice versa. Not surprisingly, there are also many significant interrelations between the macroeconomic variables. These findings confirm the predictive ability of consumer confidence in Croatia and suggest that combining subjective and objective indicators has an important role in understanding households’ economic behaviour.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA