The Level of Wealth and the Financial Condition of Households in Relation to the Results of Consumer Surveys

Information
Title: The Level of Wealth and the Financial Condition of Households in Relation to the Results of Consumer Surveys
Issue: Vol. 7, No 3, 2014
Published date: 20-09-2014 (print) / 20-09-2014 (online)
Journal: Economics & Sociology
ISSN: 2071-789X, eISSN: 2306-3459
Authors: Jacek Jankiewicz
Keywords: consumer opinion, individual indicators, forecasting consumption
DOI: 10.14254/2071-789X.2014/7-3/9
DOAJ: https://doaj.org/article/7e261e7874f44906b928dc4b5b2ddaf0
Language: English
Pages: 116-129 (14)
JEL classification: D10, D12, E27
Website: https://www.economics-sociology.eu/?283,en_the-level-of-wealth-and-the-financial-condition-of-households-in-relation-to-the-results-of-consumer-surveys
File https://www.economics-sociology.eu/files/13_93_Jankiewicz.pdf
Abstract

It is assumed in this article that the prognostic value of qualitative indicators of consumer sentiment depends, to a large extent, on changes to consumers' wealth, which is connected with the situation in the labour market. Therefore, the main aim of the analysis is to verify the relationship of consumer survey results with the level of wealth and the financial condition of households. It is assumed that the predictive power of individual indicators of consumer opinions regarding the development of consumption is indirect, describing, among other things, the earning activities of the respondents. The calculations, which took into account time lags, econometric causality, and the construction of models of stepwise regression, indicate that Polish respondents evaluate their wealth and the economic condition of the country from the perspective of the situation in the labour market.