Using a VECM on US monthly data, the paper reports a long-run positive link between consumer confidence and consumer credit, with slow adjustment and limited short-run effects.
Figure 1: Time–series evolution of key U.S
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Borrowing on Belief? Consumer Confidence and U.S. Credit -- A VECM Study
Using a VECM on US monthly data, the paper reports a long-run positive link between consumer confidence and consumer credit, with slow adjustment and limited short-run effects.