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Autor:innen: 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
Working Paper No. 2020:1
Verlag: 
Lund University, School of Economics and Management, Department of Economics, Lund
Zusammenfassung: 
We use the Twitter-based Hedonometer happiness index to study the link between happiness and gold price changes. We find no significant correlation between the two when we look at correlations across the entire distributions. However, turning to an extreme value theory (EVT) modeling of the tails of the non-normally distributed happiness distribution we find that during particularly depressing days the gold price often goes up. In a sense, gold is found to serve as a happiness-related safe haven, i.e. as a hedge against extreme unhappiness.
Schlagwörter: 
Twitter
happiness
Hedonometer
gold price
tail
extreme value theory
JEL: 
D83
G14
G41
G50
Dokumentart: 
Working Paper

Datei(en):
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