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
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Englisch
- Bibliographic citation
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Series: KOF Working Papers ; No. 293
- Classification
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Wirtschaft
Consumer Economics: Empirical Analysis
Macroeconomics: Consumption; Saving; Wealth
- Subject
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TV sentiment
consumer sentiment
private consumption
Medienverhalten
Fernsehen
Konsumentenverhalten
Michigan
- Event
-
Geistige Schöpfung
- (who)
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Uhl, Matthias W.
- Event
-
Veröffentlichung
- (who)
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ETH Zurich, KOF Swiss Economic Institute
- (where)
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Zurich
- (when)
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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.
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
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