The impact of newspapers on consumer confidence: does spin bias exist?

Alsem, Karel-Jan; Brakman, Steven; Hoogduin, Lex; Kuper, Gerard H.

doi:10.1080/00036840600707100

Cited by 48 publications

(44 citation statements)

References 5 publications

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“…Also in political science and economics (e.g. Miller et al, 1979;Alsem et al, 2008;Campbell et al, 2003) consumer confidence and behaviour is found to be significantly affected by media publications, and also here, the effects are often found to last temporarily and to disappear in the longer run.…”

Section: Impact Of Media Communication In Other Research Fieldsmentioning

confidence: 99%

Do Newspaper Articles on Card Fraud Affect Debit Card Usage?

Kosse

2012

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. NOTE: This Working Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the author and do not necessarily reflect those of the ECB. The future of retail payments: opportunities and challenges Terms of use: Documents in EconStor may WO R K I N G PA PE R S E R I E S N O 1389 / O C TO B E RThe way people pay is continuously changing, as a result of innovations in retail payments, improvements in efficiency and regulatory changes. This changing environment creates opportunities for some and challenges for others in the retail payments sector. The impact of these changes on the future of retail payments was the main theme of the biannual retail payments conference organised by the European Central Bank (ECB), this time in cooperation with the Oesterreichische Nationalbank The European Commission's proposal for a regulation setting an end date for migration to SEPA credit transfers and SEPA direct debits is welcomed. For SEPA to be a success, it is essential that users are involved, in order to ensure acceptance of the SEPA instruments. Moreover, innovations in retail payments are taking place more rapidly than ever, and payment service providers and regulators need to adapt quickly to this changing business environment.We would like to thank all participants in the conference for the very interesting discussions. In particular, we would like to acknowledge the valuable contributions and insights provided by all speakers, discussants, session chairpersons and panellists, whose names can be found in the conference programme. papers related to the conference have been accepted for publication in this special series of the ECB Working Papers Series.Behind the scenes, a number of colleagues from the ECB and the OeNB contributed to both the organisation of the conference and the preparation of these conference proceedings. In alphabetical order, many thanks to Nicola Antesberger, Stefan The results show that newspaper articles that somehow make mention of the phenomenon of skimming fraud significantly affect the number of debit card payments. The direction of the effect depends on the type of skimming fraud addressed. Newspaper articles on fraud at points-of-sale (POS) and ticket machines depress the number of debit card payments. News on ATM fraud, by contrast, has a positive effect on debit card payments. This indicates that the temporarily created fear for using the debit card at the ATM is no...

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Section: Impact Of Media Communication In Other Research Fieldsmentioning

confidence: 99%

Do Newspaper Articles on Card Fraud Affect Debit Card Usage?

Kosse

2012

SSRN Journal

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“…They find that unemployment rate, inflation rate, change in housing wealth, and lagged confidence are correlated with aggregate consumer confidence. Since then, other researchers have focused on other variables such as the real interest rate and public debt (de Mendonca, 2009), the stock market (Lopez and Durre, 2003;Golinelli and Parigi, 2003;Jos Jansen and Nahuis, 2003), and news coverage (Alsem et. al., 2008).…”

Section: Literature Reviewmentioning

confidence: 99%

Subjective Financial Distress in the Formation of Consumer Confidence: Evidence from Novel Household Data

Ekici¹

2016

BU Journal

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In this paper we analyze the psychological and socio-economic determinants of consumer confidence using household level data. Even though the aggregate Consumer Confidence Index (CCI) is widely utilized by policy-makers in developed countries, there is still some concern that the index does not contain any information that is not already available in other economic measures. Our paper has two main objectives: (1) to analyze the individual questions in the index and to identify the correlates of consumer confidence by using micro level data, and (2) to study a new variable, subjective financial distress (SFD), that captures the 'mood' of the consumers that might be useful in explaining consumer confidence. SFD measures how much stress consumers have about their current debt obligations and how concerned they are about the inability to pay off the debt in the future. We consistently find that SFD is correlated with overall CCI and its individual questions. Higher distress is found to increase the probability of reporting negative sentiment, even in the presence of many other economic and demographic variables. This result should be seen as evidence that there are psychological factors in the formation of consumer confidence, and hence that using a consumer confidence index, along with other economic variables, to forecast economic activity is justified. These results also indicate that consumer confidence reflects more than just the information consumers have about economic activity.

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“…2 Suppose there is a large negative shock to the labor market (a large negative value of ε), say because of a new tax on corporations, which raises their costs and leads them to reduce their level of employment. Even if the value of σ is zero, in which case the herd-behavior effect is zero, corporations will reduce their level of employment.…”

Section: The Model With a Supply Shockmentioning

confidence: 99%

“…The signs of A and Δ are negative if the following condition holds: 2 . s i   (15) In the standard saving-investment diagram, taught in introductory macroeconomics courses, (15) is often imposed when illustrating the "paradox of thrift," so it can be called the "paradox-of-thrift condition."…”

Section: The Model With a Supply Shockmentioning

confidence: 99%

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How to Turn a Recession into a Depression: The Role of the Media, of the Politicians, and of the Political Analysts

Hatzinikolaou¹

2010

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By modifying slightly a standard neoclassical-synthesis macroeconomic model, this paper investigates the effects of an adverse supply or demand shock on output, employment, investment, prices, interest rates, and the exchange rate. The paper focuses on the possibility of the magnification of these effects by the media, the politicians, and the political analysts, who induce herd behavior by overstating the size of the shock. I find that such behavior destabilizes the economy by magnifying the amplitude of the business cycle and by hurting private investment, which might cause expansions to be shorter and contractions to last longer.

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The impact of newspapers on consumer confidence: does spin bias exist?

Cited by 48 publications

References 5 publications

Do Newspaper Articles on Card Fraud Affect Debit Card Usage?

Do Newspaper Articles on Card Fraud Affect Debit Card Usage?

Subjective Financial Distress in the Formation of Consumer Confidence: Evidence from Novel Household Data

How to Turn a Recession into a Depression: The Role of the Media, of the Politicians, and of the Political Analysts

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