Media Coverage and Macroeconomic Information Processing


Niessen-Ruenzi, Alexandra



URL: http://edoc.hu-berlin.de/series/sfb-649-papers/200...
Additional URL: https://www.econstor.eu/dspace/bitstream/10419/251...
Document Type: Working paper
Year of publication: 2007
The title of a journal, publication series: SFB 649 Discussion Paper
Volume: 07-011
Place of publication: Berlin
ISSN: 1860-5664
Publication language: English
Institution: Business School > ABWL u. Corporate Governance (Niessen-Ruenzi 2012-)
Business School > Business Administration and Corporate Governance (Stiftungsprofessur)
Subject: 330 Economics
Abstract: This paper investigates how media coverage influences macroeconomic information processing at the bond market. I provide evidence that a high media coverage of an economic topic increases investor attention prior to the release of the corresponding economic indicator: High media coverage of the business cycle leads to a stronger market reaction to the release of gross domestic product, industrial production and IFO business index than low media coverage. High media coverage of the price level increases the market reaction to the release of producer and consumer price index than low media coverage. High media coverage of unemployment leads to a stronger market reaction to the release of the unemployment rate than low media coverage.
Additional information: Online-Ressource

Dieser Datensatz wurde nicht während einer Tätigkeit an der Universität Mannheim veröffentlicht, dies ist eine Externe Publikation.




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Niessen-Ruenzi, Alexandra ORCID: 0000-0002-9493-8280 (2007) Media Coverage and Macroeconomic Information Processing. SFB 649 Discussion Paper Berlin 07-011 [Working paper]


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