Deleersnyder, B.; Dekimpe, M.G.; Steenkamp, J-B.E.M.; … - Erasmus Research Institute of Management (ERIM), ERIM … - 2007
slacking economy. Still, anecdotal evidence suggests the presence of considerable cross-country variability in the cyclical … sensitivity of advertising expenditures. We conduct a systematic investigation into the cyclical sensitivity of advertising … average co-movement elasticity of 1.4. Interestingly, advertising’s cyclical dependence is systematically related to the …