dc.contributor.author | Ellingsen, Jon | |
dc.contributor.author | Larsen, Vegard H. | |
dc.contributor.author | Thorsrud, Leif Anders | |
dc.date.accessioned | 2020-11-30T09:26:39Z | |
dc.date.available | 2020-11-30T09:26:39Z | |
dc.date.issued | 2020 | |
dc.identifier.isbn | 978-82-8379-168-6 | |
dc.identifier.issn | 1502-8190 | |
dc.identifier.uri | https://hdl.handle.net/11250/2690107 | |
dc.description.abstract | Using a unique dataset of 22.5 million news articles from the Dow Jones Newswires Archive, we perform an in depth real-time out-of-sample forecasting comparison study with one of the most widely used data sets in the newer forecasting literature, namely the FRED-MD dataset. Focusing on U.S. GDP, consumption and investment growth, our results suggest that the news data contains information not captured by the hard economic indicators, and that the news-based data are particularly informative for forecasting consumption developments. | en_US |
dc.language.iso | eng | en_US |
dc.publisher | Norges Bank | en_US |
dc.relation.ispartofseries | Working Paper;14/2020 | |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/deed.no | * |
dc.subject | forecasting | en_US |
dc.subject | real-time | en_US |
dc.subject | machine learning | en_US |
dc.subject | news | en_US |
dc.subject | text data | en_US |
dc.subject | JEL: C53 | en_US |
dc.subject | JEL: C55 | en_US |
dc.subject | JEL: E27 | en_US |
dc.subject | JEL: E37 | en_US |
dc.title | News media vs. FRED-MD for macroeconomic forecasting | en_US |
dc.type | Working paper | en_US |
dc.description.version | publishedVersion | en_US |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212 | en_US |
dc.source.pagenumber | 43 | en_US |