288
Views
2
CrossRef citations to date
0
Altmetric
Original Articles

Women feel more pessimistic than men: Empirical evidence from Turkish consumer confidence index

&
Pages 146-171 | Received 03 Feb 2009, Accepted 20 Jan 2010, Published online: 14 Oct 2010

References

  • Bernanke , B. S. and Kuttner , K. N. 2005 . What explains the stock market's reaction to Federal Reserve policy? . Journal of Finance, American Finance Association , 60 (3) : 1221 – 1257 .
  • Campbell , J. Y. and Clarida , R. H. 1987 . The dollar and real interest rates . Carnegie‐Rochester Conference Series on Public Policy , 27 : 103 – 139 . doi: 10.1016/0167–2231(87)90005–4
  • Carroll , C. D. , Fuhrer , J. C. and Wilcox , D.W. 1994 . Does Consumer sentiment forecast household spending? If so, why?? . American Economic Review , 84 : 1397 – 1408 .
  • Charness , G. and Gneezy , U. 2007 . Strong evidence for gender differences in investment , Working Paper, University of California at Santa Barbara .
  • Çelik , S. and Deniz , P. Panel cointegration analysis for stock exchange, exchange rates and interest rates: an application to the European Union . Paper presented at The 15th World Congress of the International Economic Association . June , İstanbul, Turkey.
  • Central Bank of Republic of Turkey (online) 2008 [cited 25 January 2008]. Available from Internet: <http://www.tcmb.gov.tr&gt;
  • Dagyte , I. 2008 . Lithuanian women in science: management facets . Verslas: teorija ir praktika , 9 (1) : 65 – 72 . [Business: Theory and Practice] doi:10.3846/1648–0627.2008.9.65–72
  • Dember , W. N. , Martin , S. , Hummer , M. K. , Howe , S. and Melton , R. 1989 . The Measurement of optimism and pessimism . Current Psychology: Research and Reviews , 8 : 102 – 119 . doi:10.1007/BF02686675
  • Dickey , D. A. and Fuller , W. A. 1979 . Distribution of the estimators for autoregressive time series with a unit root . Journal of the American Statistical Association , 74 : 427 – 431 . doi: 10.2307/2286348
  • Dickey , D. A. and Fuller , W. A. 1981 . Likelihood ratio tests for autoregressive time series with a unit root . Econometrica , 49 : 1057 – 1072 . doi:10.2307/1912517
  • Dominitz , J. and Manski , C. F. 2004 . How should we measure consumer confidence? . Journal of Economic Perspectives , 18 (2) : 51 – 66 . doi:10.1257/0895330041371303
  • Dornbusch , R. 1975 . A portfolio balance model of the open economy . Journal of Monetary Economics , 1 (1) : 3 – 20 . doi:10.1016/0304–3932(75)90003–3
  • Dornbusch , R. and Fischer , S. 1980 . Exchange rates and the current account . American Economic Review , 70 : 960 – 71 .
  • Engle , R. F. and Granger , C. W. J. 1987 . Co‐integration and error correction: representation, estimation and testing . Econometrica , 55 : 251 – 276 . doi:10.2307/1913236
  • Frenkel , J. 1976 . A monetary approach to the exchange rate: doctrinal aspects and empirical evidence . Scandinavian Journal of Economics , 78 (2) : 200 – 224 . doi: 10.2307/3439924
  • Fuhrer , J. C. 1993 . What role does consumer sentiment play in the U.S. macroeconomy? . New England Economic Review , Jan/Feb : 32 – 44 .
  • Girdzijauskas , S. , &Scaron;treimikiene , D. , Čepinskis , J. and Moskaliova , V. 2009 . Formation of economic bubbles: causes and possible preventions . Technological and Economic Development of Economy , 15 (2) : 267 – 280 . doi:10.3846/1392–8619.2009.15.267–280
  • Goldstein , B. I. 2006 . Why do women get depressed and men get drunk? An examination of attributional style and coping style in response to negative life events among Canadian young adults . Sex Roles , 54 (1/2) : 27 – 37 . doi: 10.1007/s1 1199–006–8867–8
  • Granger , C. W. J. 1981 . Some properties of time series data and their use in econometric model specification . Journal of Econometrics , 16 (1) : 121 – 130 . doi: 10.1016/0304–4076(81)90079–8
  • Güneş , H. and Çelik , S. Consumer confidence and financial market variables in an emerging economy: The case of Turkey . Paper presented at the Society for Computational Economics 15th International Conference on Computing in Economics and Finance . July , Sydney, Australia.
  • Howrey , E. P. 2001 . The predictive power of the index of consumer sentiment . Brookings Papers on Economic Activity , 1 : 175 – 216 . doi:10.1353/eca.2001.0010
  • Huth , W. , Eppright , D. R. and Taube , P. M. 1994 . The indexes of consumer sentiment and confidence: leading or misleading guides to future buyer behavior . Journal of Business Research , 29 (3) : 199 – 206 . doi:10.1016/0148–2963(94)90004–3
  • Istanbul Stock Exchange (online) 2008 [cited 24 January 2008]. Available from Internet: <http://www.imkb.gov.tr> (<http://www.imkb.gov.tr>)
  • Jansen , W. J. and Nahuis , N. J. 2003 . The stock market and consumer confidence: European evidence . Economics Letters , 79 (1) : 89 – 98 . doi:10.1016/S0165–1765(02)00292–6
  • Jarrett , J. E. and Schilling , J. 2008 . Daily variation and predicting stock market returns for the Frankfurter Börse (stock market) . Journal of Business Economics and Management , 9 (3) : 189 – 198 . doi:10.3846/1611–1699.2008.9.189–198
  • Johansen , S. 1988 . Statistical analysis of cointegration vectors . Journal of Economic Dynamics and Control , 12 (12–2) : 231 – 254 . doi:10.1016/0165–1889(88)90041–3
  • Johansen , S. and Juselius , K. 1990 . Maximum likelihood estimation and inference on cointegration‐with application to the demand for money . Oxford Bulletin of Economics and Statistics , 52 : 169 – 210 .
  • Katona , G. 1960 . The powerful consumer , New York : McGraw Hill .
  • Katona , G. 1968 . Consumer behavior: theory and findings on expectations and aspirations . American Economic Review , 58 : 19 – 30 .
  • Kim , K. 2003 . Dollar exchange rate and stock price: evidence from multivariate cointegration and error correction model . Review of Financial Economics , 12 (3) : 301 – 313 . doi: 10.1016/S1058–3300(03)00026–0
  • Kwiatkowski , D. , Phillips , P. C. B. , Schmidt , P. and Shin , Y. 1992 . Testing the null hypothesis of stationarity against the alternative of a unit root: how sure are we that economic time series have a unit root? . Journal of Econometrics , 54 (1–3) : 159 – 178 . doi:10.1016/0304–4076(92)90104‐Y
  • Ludvigson , S. C. 2004 . Consumer confidence and confidence spending . Journal of Economic Perspectives , 18 (2) : 29 – 50 . doi:10.1257/0895330041371222
  • MacDonald , R. and Nagayasu , J. 2000 . The long‐run relationship between real exchange rates and real interest rate differentials: a panel study . IMF Staff Papers , 47 (1) : 116 – 128 .
  • Rogoff , K. and Meese , R. A. 1988 . Was It Real? The exchange rate‐interest differential relation over the modern floating‐rate period . Journal of Finance , 43 (4) : 933 – 948 . doi: 10.2307/2328144
  • Mishkin , F. S. 1978 . Consumer sentiment and spending on durable goods . Brookings Papers on Economic Activity , 1 : 217 – 232 . doi: 10.2307/2534366
  • Muhammad , N. and Rasheed , A. Stock prices and exchange rates: are they related? Evidence from south Asian countries. Paper presented at the . 18th Annual General Meeting and Conference of the Pakistan Society of Development Economists . January .
  • Nahuis , N. J. June 2000 . Survey indicators useful for monitoring consumption growth? Evidence from European countries , Working Paper 2000–08 June , Amsterdam : Monetary and Economics Policy Department, De Nederlandsche Bank .
  • NTVMSNBC (online). 2008 [cited 28 January 2008]. Available from Internet: <http://www.ntvmsnbc.com> (<http://www.ntvmsnbc.com>)
  • Obben , J. , Pech , A. and Shakur , S. 2006 . “ Analysis of the relationship between the share market performance and exchange rates in New Zealand: A cointegrating VAR approach ” . Massey University Discussion Paper No. 06.08 1 – 27 . 1174 – 2542 . ISSN .
  • Phylaktis , K. and Ravazzolo , F. 2005 . Stock prices and exchange rate dynamics . Journal of International Money and Finance , 24 (7) : 1031 – 1053 . doi:10.1016/j.jimonfin.2005.08.001
  • Powell , M. and Ansic , D. 1997 . Gender differences in risk behaviour in financial decision‐making: an experimental analysis . Journal of Economic Psychology , 18 (6) : 605 – 628 . doi: 10.1016/S0167–4870(97)00026–3
  • Said , S. E. and Dickey , D. A. 1984 . Testing for unit roots in autoregressive moving average models of unknown order . Biometrika , 71 (3) : 599 – 607 . doi:10.1093/biomet/71.3.599
  • Scheier , M. F. , Carver , C. S. and Bridges , M. W. 2001 . “ Optimism, pessimism, and psychological well‐being ” . In Optimism and Pessimism: Implications for Theory, Research, and Practice , Edited by: Chang , E. C. 189 – 216 . Washington, DC : American Psychological Association . doi:10.1037/10385–009
  • Schraedley , P. K. , Gotlib , I. H. and Hayward , C. 1999 . Gender differences in correlates of depressive symptoms in adolescents . Journal of Adolescent Health , 5 (2) : 98 – 108 . doi:10.1016/S1054–139X(99)00038–5
  • Schubert , R. , Gysler , M. , Brown , M. and Brachinger , H. 1999 . Financial decision‐making: are women really more risk averse? . American Economic Review Papers and Proceedings , 89 (2) : 381 – 385 .
  • Solnik , B. 1987 . Using financial prices to test exchange rate models: A note . Journal of Finance , 42 (1) : 141 – 149 . doi: 10.2307/2328424
  • Souleles , N. S. 2001 . Consumer sentiment: its rationality and usefulness in forecasting expenditure‐evidence from the Michigan micro data , NBER Working Paper 8410 Cambridge, MA
  • Stavarek , D. 2004 . Stock prices and exchange rates in the EU and the USA: Evidence of their mutual interactions , MPRA Paper No. 7297
  • Teresiene , D. 2009 . Lithuanian stock market analysis using a set of GARCH models . Journal of Business Economics and Management , 10 (4) : 349 – 360 . doi:10.3846/1611–1699.2009.10.349–360
  • Thornton , J. 1993 . Money, output and stock prices in the UK: Evidence on some (non)relation‐ships . Applied Financial Economics , 3 (4) : 335 – 338 . doi: 10.1080/758534946
  • Throop , A. March 1991 . Consumer sentiment and the economic downturn , March , Weekly Letter, Federal Reserve Bank of San Francisco .
  • Turkish Statistical Institute (online). 2008 [cited 31 January 2008]. Available from Internet: <http://www.tuik.gov.tr&gt;
  • Van Oest , R. and Franses , P. H. 2008 . Measuring changes in consumer confidence . Journal of Economic Psychology , 29 (3) : 255 – 275 . doi:10.1016/j.joep.2007.10.001
  • Corresponding Author. An earlier version of this paper has been presented at the Annual Conference of the International Association for Feminist Economics held in Boston, MA, USA on 2628 June, 2009.
  • The authors would like to acknowledge research grant provided by Marmara University Scientific Research Projects Unit under SOS‐D‐300409–0129.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.