Artikel
Economic news and household decisions
This paper is devoted to the role of information context in the dynamics of consumption/savings decisions. The deviations from the traditional model of rational expectations are investigated, and the hypotheses of the «rational inattention» are tested. The basis for the study was a selection of news from the major Russian TV channels for 2006-2016. This news available to ordinary households in Russia was analyzed. News was defined as negative or positive with special program tools of sentiment analysis. It was found that increased uncertainty (the spread of positive and negative news) leads to the choice of consumption to the detriment of savings, which then reduces the investment base of the economy. The authors analyze the connection of the tonality of news and its changes with the real business cycle. The authors found that the information cycle with some lag correlated with the cycle in consumption/savings decisions in the Russian Federation. The authors conclude that the concept of rational inattention is more acceptable for this case. Based on the study, recommendations are offered for adjusting public policy.
- Language
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Englisch
- Bibliographic citation
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Journal: Contemporary Economics ; ISSN: 2300-8814 ; Volume: 12 ; Year: 2018 ; Issue: 1 ; Pages: 57-68 ; Warsaw: University of Finance and Management in Warsaw, Faculty of Management and Finance
- Classification
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Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
- Subject
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cycles
information imperfectness
bounded rationality
- Event
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Geistige Schöpfung
- (who)
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Vinokurov, S. S.
Medved, A. A.
Mierin, L. A.
- Event
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Veröffentlichung
- (who)
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University of Finance and Management in Warsaw, Faculty of Management and Finance
- (where)
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Warsaw
- (when)
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2018
- DOI
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doi:10.5709/ce.1897-9254.263
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
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
- Artikel
Associated
- Vinokurov, S. S.
- Medved, A. A.
- Mierin, L. A.
- University of Finance and Management in Warsaw, Faculty of Management and Finance
Time of origin
- 2018
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