Role of the media in the inflation expectation formation process

Arbeitspapier

This research highlights the role played by the media in the inflation expectations formation process of different types of respondents in Ukraine. Using a large news corpus and machine learning techniques I constructed news-based measures transforming text into quantitative indicators, which reflect news topics relevant to inflation expectations. As such, I found evidence that the different news topics have an impact on inflation expectations and can explain part of their variance. Thus, my results can help understand inflation expectations, especially as anchoring inflation expectations remains a key challenge for central banks.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Graduate Institute of International and Development Studies Working Paper ; No. HEIDWP13-2021

Classification and Topics

• Classification: Wirtschaft ; Large Data Sets: Modeling and Analysis ; Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access ; Expectations; Speculations ; Price Level; Inflation; Deflation ; Central Banks and Their Policies
• Subject: inflation expectations ; natural language processing ; textual data ; machine learning

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Yukhymenko, Tetiana
• Event: Veröffentlichung
• (who): Graduate Institute of International and Development Studies
• (where): Geneva
• (when): 2021

Further information

• Handle: http://hdl.handle.net/10419/238104
• Last update: 10.03.2025, 11:43 AM CET