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Subject:
confidence proxied by consumer expenditure or savings?
From:
Robert Leeson <[log in to unmask]>
Reply To:
Societies for the History of Economics <[log in to unmask]>
Date:
Wed, 11 Dec 2013 00:42:23 -0800
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According to Gregory, von Hayek, Plant and Robbins (1932) “It is perilous in the extreme to say anything which may still further weaken the habit of private saving”.

This appears to have reflected the proxy for "public confidence" in the banking system used by Hayek's Austrian Institute for Business Cycle Research: the size of, and movements in, individual savings accounts.  

Excuse my ignorance: did other business cycle research studies also use (in the absence of FDIC-style guarantees) measures of individual savings accounts in this manner?

RL

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