Arbeitspapier

Nowcasting private consumption with TV sentiment

We perform principal components analyses of the University of Michigan Index of Consumer Sentiment and TV sentiment in order to gain information on their structure and information content. By introducing the new sentiment variable TV sentiment, gathered from sentiment from statements from over 10,000 TV news broadcasts in the United States, we find that TV sentiment adds great value in nowcasting private consumption. We further find that TV sentiment performs markedly better than the Index of Consumer Sentiment, suggesting that using sentiment from TV news has more explanatory power than survey-based sentiment.

Language
Englisch

Bibliographic citation
Series: KOF Working Papers ; No. 293

Classification
Wirtschaft
Consumer Economics: Empirical Analysis
Macroeconomics: Consumption; Saving; Wealth
Subject
TV sentiment
consumer sentiment
private consumption
Medienverhalten
Fernsehen
Konsumentenverhalten
Michigan

Event
Geistige Schöpfung
(who)
Uhl, Matthias W.
Event
Veröffentlichung
(who)
ETH Zurich, KOF Swiss Economic Institute
(where)
Zurich
(when)
2011

DOI
doi:10.3929/ethz-a-006804308
Handle
Last update
10.03.2025, 11:45 AM CET

Data provider

This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.

Object type

  • Arbeitspapier

Associated

  • Uhl, Matthias W.
  • ETH Zurich, KOF Swiss Economic Institute

Time of origin

  • 2011

Other Objects (12)