• Asset Returns, News Topics, and Media Effects 

      Larsen, Vegard Høghaug; Thorsrud, Leif Anders (Working Papers;17/2017, Working paper, 2017)
      We decompose the textual data in a daily Norwegian business newspaper into news topics and investigate their predictive and causal role for asset prices. Our three main findings are: (1) a one unit innovation in the news ...
    • Business cycle narratives 

      Larsen, Vegard Høghaug; Thorsrud, Leif Anders (Working papers;3/2018, Working paper, 2018)
      This article quantifies the epidemiology of media narratives relevant to business cycles in the US, Japan, and Europe (euro area). We do so by first constructing daily business cycle indexes computed on the basis of the ...
    • Nowcasting Using News Topics. Big Data Versus Big Bank 

      Thorsrud, Leif Anders (Working Papers;20/2016, Working paper, 2016)
      The agents in the economy use a plethora of high frequency information, including news media, to guide their actions and thereby shape aggregate economic fluctuations. Traditional nowcasting approches have to a relatively ...
    • Words Are the New Numbers: A Newsy Coincident Index of Business Cycles 

      Thorsrud, Leif Anders (Working Papers;21/2016, Working paper, 2016)
      I construct a daily business cycle index based on quarterly GDP and textual information contained in a daily business newspaper. The newspaper data are decomposed into time series representing newspaper topics using a ...