Macroeconomic forecasting through news, emotions and narrative
Sonja Tilly,
Markus Ebner,
Giacomo Livan
Abstract:This study forecasts industrial production and consumer prices leveraging narrative and sentiment from global newspapers. Existing research includes positive and negative tone only to improve macroeconomic forecasts, focusing predominantly on large economies such as the US. These works use mainly anglophone sources of narrative, thus not capturing the entire complexity of the multitude of emotions contained in global news articles. This study expands the existing body of research by incorporating a wide array … Show more
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