Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/238104 
Year of Publication: 
2021
Series/Report no.: 
Graduate Institute of International and Development Studies Working Paper No. HEIDWP13-2021
Publisher: 
Graduate Institute of International and Development Studies, Geneva
Abstract: 
This research highlights the role played by the media in the inflation expectations formation process of different types of respondents in Ukraine. Using a large news corpus and machine learning techniques I constructed news-based measures transforming text into quantitative indicators, which reflect news topics relevant to inflation expectations. As such, I found evidence that the different news topics have an impact on inflation expectations and can explain part of their variance. Thus, my results can help understand inflation expectations, especially as anchoring inflation expectations remains a key challenge for central banks.
Subjects: 
inflation expectations
natural language processing
textual data
machine learning
JEL: 
C55
C82
D84
E31
E58
Document Type: 
Working Paper

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