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dc.contributor.authorLamla, Michael J.en
dc.contributor.authorLein, Sarah M.en
dc.date.accessioned2011-10-06T15:39:54Z-
dc.date.available2011-10-06T15:39:54Z-
dc.date.issued2008-
dc.identifier.pidoi:10.3929/ethz-a-005640674en
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
dc.language.isoengen
dc.publisher|aETH Zurich, KOF Swiss Economic Institute |cZurichen
dc.relation.ispartofseries|aKOF Working Papers |x201en
dc.subject.jelE52en
dc.subject.jelD83en
dc.subject.ddc330en
dc.subject.keywordMonetary policyen
dc.subject.keywordexpectation formationen
dc.subject.keywordmedia coverageen
dc.subject.keywordmedia biasen
dc.subject.stwInflationserwartungen
dc.subject.stwMedienverhaltenen
dc.subject.stwInformationsbeschaffungen
dc.subject.stwBiasen
dc.subject.stwDeutschlanden
dc.titleThe role of media for consumers' inflation expectation formation-
dc.typeWorking Paperen
dc.identifier.ppn584007310en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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