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Business Economics (2019) 54:197–198 https://doi.org/10.1057/s11369-019-00149-0 Charles Steindel © National Association for Business Economics 2019 This issue starts with Richard Curtin’s paper on consumer deal with an environment troubled by violence is in part expectations. Curtin notes a paradox in the results of sur- of function of age: Other things equal, younger firms are veys of consumer attitudes. Individual consumers have very more likely to contract activity when violence increases—an limited knowledge of national economic data or the formal observation that may be of moment for firms in developed reasoning that economists use to make forecasts. Further- nations seeking partners in troubled parts of the globe. more, media reports on the economic data typically provide Our final article is the Mennis-award winning paper by little quantitative information. Yet, in the aggregate, con- Steven Byers and Jeff Ferry, discussing possible effects of sumer survey results provide excellent forecasts of inflation. tariffs on Chinese products. Byers and Ferry examine the Curtin’s explanation is that individuals’ assessments of the impact of a sustained 25% US tariff on Chinese imports. In economy are keyed to their individual situations, which will their model exercise, they find that, perhaps surprisingly, differ from the national average—this is a natural result
Business Economics – Springer Journals
Published: Oct 1, 2019
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