dc.contributor.author | Larsen, Vegard Høghaug | |
dc.contributor.author | Thorsrud, Leif Anders | |
dc.contributor.author | Zhulanova, Julia | |
dc.date.accessioned | 2019-03-21T09:31:03Z | |
dc.date.available | 2019-03-21T09:31:03Z | |
dc.date.issued | 2019 | |
dc.identifier.isbn | 978-82-8379-083-2 | |
dc.identifier.issn | 1502-8190 | |
dc.identifier.uri | http://hdl.handle.net/11250/2591007 | |
dc.description.abstract | 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. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Norges Bank | nb_NO |
dc.relation.ispartofseries | Working Paper;5/2019 | |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal | * |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/deed.no | * |
dc.subject | JEL: C11 | nb_NO |
dc.subject | JEL: C53 | nb_NO |
dc.subject | JEL: D83 | nb_NO |
dc.subject | JEL: D84 | nb_NO |
dc.subject | JEL: E13 | nb_NO |
dc.subject | JEL: E31 | nb_NO |
dc.subject | JEL: E37 | nb_NO |
dc.title | News-Driven Inflation Expectations and Information Rigidities | nb_NO |
dc.type | Working paper | nb_NO |
dc.description.version | publishedVersion | nb_NO |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212 | nb_NO |
dc.source.pagenumber | 61 | nb_NO |