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dc.contributor.authorLamla, Michael J.en_US
dc.contributor.authorLein, Sarah M.en_US
dc.date.accessioned2011-10-06T15:39:54Z-
dc.date.available2011-10-06T15:39:54Z-
dc.date.issued2008en_US
dc.identifier.pidoi:10.3929/ethz-a-005640674en_US
dc.identifier.urihttp://hdl.handle.net/10419/50335-
dc.description.abstractThis paper analyzes the impact of the media on consumers' inflation expectations. We distinguish two channels through which media can influence expectations. First, the intensity of news coverage on inflation plays a role (volume channel). Second, the content of these reports matters (tone channel). Employing a unique data set capturing media reports on inflation in Germany comprising 01/1998-12/2006 we are able to discriminate between these two effects. We find that the volume effect generally improves the accuracy of consumer forecasts while the tone channel induces a media bias.en_US
dc.language.isoengen_US
dc.publisherKOF Zürichen_US
dc.relation.ispartofseriesKOF working papers // Konjunkturforschungsstelle, Eidgenössische Technische Hochschule Zürich 201en_US
dc.subject.jelE52en_US
dc.subject.jelD83en_US
dc.subject.ddc330en_US
dc.subject.keywordMonetary policyen_US
dc.subject.keywordexpectation formationen_US
dc.subject.keywordmedia coverageen_US
dc.subject.keywordmedia biasen_US
dc.subject.stwInflationserwartungen_US
dc.subject.stwMedienverhaltenen_US
dc.subject.stwInformationsbeschaffungen_US
dc.subject.stwBiasen_US
dc.subject.stwDeutschlanden_US
dc.titleThe role of media for consumers' inflation expectation formationen_US
dc.typeWorking Paperen_US
dc.identifier.ppn584007310en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:KOF Working Papers, KOF Konjunkturforschungsstelle, ETH Zürich

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