The Effects of Protests on Agents' Expectations: Evidence from Students' Demonstrations in Chile

Juan A. Correa; Raúl Morales; Francisco Parro

doi:10.1111/deve.12180

The Effects of Protests on Agents' Expectations: Evidence from Students' Demonstrations in Chile

Juan A. Correa, Raúl Morales, Francisco Parro

Research output: Contribution to journal › Article › peer-review

Abstract

We use a narrative approach to study the effects of protests on agents' expectations. The "protest shocks" in the case of our study arose from Chile's student demonstrations. The demonstrations, led by university and secondary students, raised demands related to greater involvement of the state in the funding, provision, and regulation of the education sector. We find a negative response in relation to both the consumer confidence index and the business confidence index in the face of those demonstrations. The negative effect of the protests on the consumer confidence index lasted, on average, six months after the demonstrations. The impact of the protests on the business confidence index was more limited, although still negative and statistically significant.

Original language	English
Journal	Developing Economies
DOIs	https://doi.org/10.1111/deve.12180
Publication status	Accepted/In press - 1 Jan 2018

Keywords

Expectations
Narrative approach
Protests

ASJC Scopus subject areas

Development
Economics and Econometrics

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10.1111/deve.12180

Cite this

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abstract = "We use a narrative approach to study the effects of protests on agents' expectations. The {"}protest shocks{"} in the case of our study arose from Chile's student demonstrations. The demonstrations, led by university and secondary students, raised demands related to greater involvement of the state in the funding, provision, and regulation of the education sector. We find a negative response in relation to both the consumer confidence index and the business confidence index in the face of those demonstrations. The negative effect of the protests on the consumer confidence index lasted, on average, six months after the demonstrations. The impact of the protests on the business confidence index was more limited, although still negative and statistically significant.",

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AB - We use a narrative approach to study the effects of protests on agents' expectations. The "protest shocks" in the case of our study arose from Chile's student demonstrations. The demonstrations, led by university and secondary students, raised demands related to greater involvement of the state in the funding, provision, and regulation of the education sector. We find a negative response in relation to both the consumer confidence index and the business confidence index in the face of those demonstrations. The negative effect of the protests on the consumer confidence index lasted, on average, six months after the demonstrations. The impact of the protests on the business confidence index was more limited, although still negative and statistically significant.

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The Effects of Protests on Agents' Expectations: Evidence from Students' Demonstrations in Chile

Abstract

Keywords

ASJC Scopus subject areas

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