Can news help measure economic sentiment? An application in COVID-19 times()

We construct a new newspaper-based sentiment indicator for Spain that allows to monitor economic activity in real-time. As opposed to survey-based confidence indicators that are released at the end of the month, our indicator can be constructed on a daily basis. We compare our index with the popular...

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Detalles Bibliográficos
Autores principales: Aguilar, Pablo, Ghirelli, Corinna, Pacce, Matías, Urtasun, Alberto
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier B.V. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9754320/
https://www.ncbi.nlm.nih.gov/pubmed/36540696
http://dx.doi.org/10.1016/j.econlet.2021.109730
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author Aguilar, Pablo
Ghirelli, Corinna
Pacce, Matías
Urtasun, Alberto
author_facet Aguilar, Pablo
Ghirelli, Corinna
Pacce, Matías
Urtasun, Alberto
author_sort Aguilar, Pablo
collection PubMed
description We construct a new newspaper-based sentiment indicator for Spain that allows to monitor economic activity in real-time. As opposed to survey-based confidence indicators that are released at the end of the month, our indicator can be constructed on a daily basis. We compare our index with the popular Economic Sentiment Indicator of the European Commission and show that ours performs significantly better in nowcasting the Spanish GDP. Moreover, it proves to be helpful to predict the current COVID-19 recession from an earlier date.
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spelling pubmed-97543202022-12-16 Can news help measure economic sentiment? An application in COVID-19 times() Aguilar, Pablo Ghirelli, Corinna Pacce, Matías Urtasun, Alberto Econ Lett Article We construct a new newspaper-based sentiment indicator for Spain that allows to monitor economic activity in real-time. As opposed to survey-based confidence indicators that are released at the end of the month, our indicator can be constructed on a daily basis. We compare our index with the popular Economic Sentiment Indicator of the European Commission and show that ours performs significantly better in nowcasting the Spanish GDP. Moreover, it proves to be helpful to predict the current COVID-19 recession from an earlier date. Elsevier B.V. 2021-02 2021-01-06 /pmc/articles/PMC9754320/ /pubmed/36540696 http://dx.doi.org/10.1016/j.econlet.2021.109730 Text en © 2021 Elsevier B.V. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Aguilar, Pablo
Ghirelli, Corinna
Pacce, Matías
Urtasun, Alberto
Can news help measure economic sentiment? An application in COVID-19 times()
title Can news help measure economic sentiment? An application in COVID-19 times()
title_full Can news help measure economic sentiment? An application in COVID-19 times()
title_fullStr Can news help measure economic sentiment? An application in COVID-19 times()
title_full_unstemmed Can news help measure economic sentiment? An application in COVID-19 times()
title_short Can news help measure economic sentiment? An application in COVID-19 times()
title_sort can news help measure economic sentiment? an application in covid-19 times()
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9754320/
https://www.ncbi.nlm.nih.gov/pubmed/36540696
http://dx.doi.org/10.1016/j.econlet.2021.109730
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