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- W3122961161 abstract "We investigate the role played by the media in the expectations formation process of households. Using a news-topic-based approach we show that news types the media choose to report on, e.g., (Internet) technology, health, and politics, are good predictors of households' stated in ation 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 timevarying information rigidity among households. As such, we not only provide a novel estimate showing the degree to which information rigidities among households vary 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 infl ation expectations and information rigidities." @default.
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- W3122961161 date "2019-04-01" @default.
- W3122961161 modified "2023-09-27" @default.
- W3122961161 title "News-driven inflation expectations and information rigidities" @default.
- W3122961161 hasPublicationYear "2019" @default.
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