Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/195511 
Year of Publication: 
2018
Citation: 
[Journal:] Contemporary Economics [ISSN:] 2300-8814 [Volume:] 12 [Issue:] 1 [Publisher:] University of Finance and Management in Warsaw, Faculty of Management and Finance [Place:] Warsaw [Year:] 2018 [Pages:] 57-68
Publisher: 
University of Finance and Management in Warsaw, Faculty of Management and Finance, Warsaw
Abstract: 
This paper is devoted to the role of information context in the dynamics of consumption/savings decisions. The deviations from the traditional model of rational expectations are investigated, and the hypotheses of the «rational inattention» are tested. The basis for the study was a selection of news from the major Russian TV channels for 2006-2016. This news available to ordinary households in Russia was analyzed. News was defined as negative or positive with special program tools of sentiment analysis. It was found that increased uncertainty (the spread of positive and negative news) leads to the choice of consumption to the detriment of savings, which then reduces the investment base of the economy. The authors analyze the connection of the tonality of news and its changes with the real business cycle. The authors found that the information cycle with some lag correlated with the cycle in consumption/savings decisions in the Russian Federation. The authors conclude that the concept of rational inattention is more acceptable for this case. Based on the study, recommendations are offered for adjusting public policy.
Subjects: 
cycles
information imperfectness
bounded rationality
JEL: 
E21
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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