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Bad News, Good News: Coverage and Response Asymmetries

dc.contributor.authorGambetti, Luca
dc.contributor.authorMaffei-Faccioli, Nicolò
dc.contributor.authorZoi, Sarah
dc.date.accessioned2022-11-09T06:06:18Z
dc.date.available2022-11-09T06:06:18Z
dc.date.issued2022
dc.identifier.isbn978-82-8379-212-6
dc.identifier.issn1502-8190
dc.identifier.urihttps://hdl.handle.net/11250/3030772
dc.description.abstractWe study the dynamic link between economic news coverage and the macroeconomy. We construct two measures of media coverage of bad and good unemployment figures based on three major US newspapers. Using nonlinear time series techniques, we document three facts: (i) there is no significant negativity bias in economic news coverage. Newspapers’ asymmetric responsiveness to positive and negative unemployment shocks is entirely explained by their asymmetric effects on unemployment; (ii) consumption reacts to bad news, but not to good news; (iii) bad news is more informative to the agents and modifies their expectations more than good news.en_US
dc.language.isoengen_US
dc.publisherNorges Banken_US
dc.relation.ispartofseriesWorking paper;8/2022
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.no*
dc.subjectnews coverageen_US
dc.subjectagents’ informationen_US
dc.subjectbusiness cyclesen_US
dc.subjectasymmetryen_US
dc.subjectthreshold-SVARen_US
dc.subjectJEL: C32en_US
dc.subjectJEL: E32en_US
dc.titleBad News, Good News: Coverage and Response Asymmetriesen_US
dc.typeWorking paperen_US
dc.description.versionpublishedVersionen_US
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212en_US
dc.source.pagenumber48en_US


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Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal
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