تقرير
News-Driven Inflation Expectations and Information Rigidities
| العنوان: | News-Driven Inflation Expectations and Information Rigidities |
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| المؤلفون: | Larsen, Vegard Høghaug, Thorsrud, Leif Anders, Zhulanova, Julia |
| المصدر: | 61. |
| بيانات النشر: | Norges Bank |
| سنة النشر: | 2019 |
| المجموعة: | Norges Bank |
| مصطلحات موضوعية: | JEL: C11, JEL: C53, JEL: D83, JEL: D84, JEL: E13, JEL: E31, JEL: E37, VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212 |
| الوصف: | We investigate the role played by the media in the expectations formation process of households. Using a novel news-topic-based approach we show that news types the media choose to report on, e.g., fiscal policy, health, and politics, are good predictors of households' stated inflation expectations. In turn, in a noisy information model setting, augmented with a simple media channel, we document that the underlying time series properties of relevant news topics explain the time-varying information rigidity among households. As such, we not only provide a novel estimate showing the degree to which information rigidities among households varies across time, but also provide, using a large news corpus and machine learning algorithms, robust and new evidence highlighting the role of the media for understanding inflation expectations and information rigidities. ; publishedVersion |
| نوع الوثيقة: | report |
| وصف الملف: | application/pdf |
| اللغة: | English |
| ردمك: | 978-82-8379-083-2 82-8379-083-8 |
| العلاقة: | Working Paper;5/2019; urn:isbn:978-82-8379-083-2; urn:issn:1502-8190; http://hdl.handle.net/11250/2591007Test |
| الإتاحة: | http://hdl.handle.net/11250/2591007Test |
| حقوق: | Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal ; http://creativecommons.org/licenses/by-nc-nd/4.0/deed.noTest |
| رقم الانضمام: | edsbas.17E6EFF2 |
| قاعدة البيانات: | BASE |
| ردمك: | 9788283790832 8283790838 |
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