2026-04-17T07:33:30Zhttps://recercat.cat/oai/request

oai:recercat.cat:2445/2228182025-12-05T01:06:55Zcom_2072_1057col_2072_478809col_2072_478917

00925njm 22002777a 4500 dc Fernández Pérez, Adrian author Gómez-Puig, Marta author Sosvilla Rivero, Simón author 2025-08-29T08:59:16Z 2025-08-29T08:59:16Z 2025-08 2025-08-29T08:59:17Z Purpose: The purpose of this study is to examine the propagation of consumer and business confidence in the euro area with a particular focus on the global financial crisis (GFC), the European sovereign debt crisis (ESDC) and theCOVID-19-induced GreatLockdown. Design/methodology/approach: The authors apply Diebold and Yilmaz’s connectedness framework and the improved method based on the time-varying parameter vectorautoregressive model. Findings: The authors find that although the evolution of business confidence marked the GFC and the ESDC the role of consumer confidence (mainly in those countries with stricter containment and closure measures) increased in the COVID-19-induced crisis. Originality/value: The findings are related to the different origins of the examined crisis periods, and the analysis of their interrelationship is a very relevant topic for future research. Zona euro Crisis financeres Consum (Economia) COVID-19 Eurozone Financial crises Consumption (Economics) COVID-19 Consumer and business confidence connectedness in the euro area : A tale of two crises