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Title:Media coverage and macroeconomic information processing PDF Logo
Authors:Niessen-Ruenzi, Alexandra
Issue Date:2007
Series/Report no.:SFB 649 discussion paper 2007,011
Abstract:This paper investigates how media coverage in°uences macroeconomic information processing at the bond market. I provide evidence that a high media coverage of an economic topic increases investor attention prior to the release of the corresponding economic indicator: High media coverage of the business cycle leads to a stronger market reaction to the release of gross domestic product, industrial production and IFO business index than low media coverage. High media coverage of the price level increases the market reaction to the release of producer and consumer price index than low media coverage. High media coverage of unemployment leads to a stronger market reaction to the release of the unemployment rate than low media coverage.
Subjects:Media Coverage
Information Processing
Economic Indicators
JEL:G23
E44
G14
Document Type:Working Paper
Appears in Collections:SFB 649 Discussion Papers, HU Berlin

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