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Displaying results 1 to 11 of 11.

  1. Breaking monetary policy news
    the role of mass media coverage of ECB announcements for public inflation expectations
    Author: Hirsch, Patrick; Feld, Lars P.; Köhler, Ekkehard A.
    Published: February 2023
    Publisher:  CESifo, Munich, Germany

    Using the variation in national television news of four major member states in the Eurozone, we find causal effects of coverage of high-frequency identified monetary policy announcements on households' inflation expectations in an event study and a... more

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    Using the variation in national television news of four major member states in the Eurozone, we find causal effects of coverage of high-frequency identified monetary policy announcements on households' inflation expectations in an event study and a generalized Difference-in-Differences approach with stacked data. If a monetary policy decision receives news coverage, the adaptation of inflation expectations is stronger than without coverage. Second, we find that coverage of 'delphic' monetary policy announcements, which are primarily informational in nature, leads to an inverse adjustment, i.e., expansionary shocks lead to households lowering their inflation expectations, as opposed to coverage of a textbook, 'odyssean', monetary policy shock.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/271929
    Series: CESifo working papers ; 10285 (2023)
    Subjects: inflation expectations; media coverage; transmission of monetary policy; quasi-experimental evidence
    Scope: 1 Online-Ressource (circa 61 Seiten), Illustrationen
  2. Seeking shelter in times of crisis?
    unemployment, perceived job insecurity and trade union membership
    Author: Chadi, Adrian; Goerke, Laszlo
    Published: March 2023
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    Do trade unions benefit from economic crises by attracting new members among workers concerned about job security? To address this question, we provide a comprehensive empirical investigation based on panel data from Germany, where workers... more

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    Do trade unions benefit from economic crises by attracting new members among workers concerned about job security? To address this question, we provide a comprehensive empirical investigation based on panel data from Germany, where workers individually decide on their membership. We analyse whether exogenously manipulated perceptions of job insecurity encourage individuals to join a union. Firm-level workforce reductions serve as the first trigger of perceived job insecurity. Regional unemployment rates represent a second source of exogenous variation. Third, we propose a novel identification approach based on plant-closure-induced job losses of other workers in the same region. In each case, we exploit the longitudinal nature of the data to analyse the implications of changes in labour market conditions for changes in union membership using an instrumental-variable approach. We consistently find that perceived job insecurity, as triggered by labour market turmoil, increases the likelihood of individual union membership. Analysing data on media coverage about downsizing in a complementary investigation, we add further evidence to the notion of trade unions as beneficiaries of labour market crises. Finally, we consider workers who lose their jobs and find no evidence of adverse effects on union membership among those directly affected by the labour market situation.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/272662
    Series: Discussion paper series / IZA ; no. 16035
    Subjects: job security; German Socio-Economic Panel; workforce reduction; trade union membership; regional labour markets; media coverage
    Scope: 1 Online-Ressource (circa 74 Seiten), Illustrationen
  3. A careerist judge with two concerns
    Author: Andina-Díaz, Ascensión; García Martínez, José A.
    Published: August 1, 2016
    Publisher:  Departamento de Teoría e Historia Económica, Facultad de Ciencias Económicas y Empresariales, Universidad de Málaga, [Málaga]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Málaga Economic Theory Research Center working papers ; WP 2016, 2 (August 2016)
    Subjects: Careerist judges; bias; transparency; media coverage; sentencing practices
    Scope: 1 Online-Ressource (circa 29 Seiten)
  4. Does firm's silence drive media's attention away?
    Author: Mansouri, Sasan
    Published: February 27, 2021
    Publisher:  Verein für Socialpolitik, [Köln]

    In this study, using a comprehensive dataset on business media coverage and textual analysis of the discussions in firms' quarterly earnings conference calls, we show that firms whose management fail to satisfy the demand for information, ceteris... more

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    In this study, using a comprehensive dataset on business media coverage and textual analysis of the discussions in firms' quarterly earnings conference calls, we show that firms whose management fail to satisfy the demand for information, ceteris paribus, receive less media coverage. Poor information environment hurts the information-creation capacity of the media, while such an environment does not show a similar association with the media's information-dissemination role. Furthermore, this association is more prominent for the professional business media, compared to their nonprofessional counterparts such as blogs and alternative articles. Our results add nuance to the literature on media coverage bias by showing that the coverage of the firms is mainly driven by the supply-side factors, i.e. the factors affecting the suppliers of the coverage, rather than being demand-driven.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/242433
    Series: Jahrestagung 2021 / Verein für Socialpolitik ; 89
    Subjects: non-answers; conference calls; media coverage; non-professional business media
    Scope: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  5. Monetary stance and favorableness of monetary policy in the media
    the case of Viet Nam
    Author: Ngoc Thang Doan; Pham Thi Hoang Anh; Trinh Quang Long; Do Phu Dong; Luong Van Dat
    Published: [2022]
    Publisher:  Asian Development Bank Institute, Tokyo, Japan

    This paper analyzes the effects of monetary stance on the media's favorable (or otherwise) attitude to the State Bank of Viet Nam's (SBV) monetary policy using monthly data from 2011 to 2021. Monetary stance is a multivariate index based on the... more

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    This paper analyzes the effects of monetary stance on the media's favorable (or otherwise) attitude to the State Bank of Viet Nam's (SBV) monetary policy using monthly data from 2011 to 2021. Monetary stance is a multivariate index based on the growth rates of money supply and domestic credit. A large set of articles published in five Viet Nam daily newspapers is utilized to construct a view of the media's favorableness to the monetary policy. Our main findings are that a change in monetary stance from easing to neutral/tightening, or from neutral to tightening is greatly appreciated by the media. This effect is negatively moderated by the volatility of the stock exchange index. Our findings are robust for alternative measures of media's favorableness, monetary policy variables, and when controlling the endogeneity problem. These findings have important policy implications for implementing SBV's monetary policy.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/267758
    Series: ADBI working paper series ; no. 1325 (June 2022)
    Subjects: monetary policy; monetary stance; media coverage; media favorableness; communication
    Scope: 1 Online-Ressource (circa 22 Seiten), Illustrationen
  6. News and narratives
    a cointegration analysis of Russian economic policy uncertainty
    Author: Boitani, Andrea; Dragomirescu-Gaina, Catalin
    Published: [2022]
    Publisher:  Dipartimento di Economia e Finanza, Università Cattolica del Sacro Cuore, Milano, Italy

    Russia has become more integrated and therefore significantly dependent on global developments over the last decades, despite being ruled by an increasingly autocratic regime. How does Russian media cover the associated economic and policy... more

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    Russia has become more integrated and therefore significantly dependent on global developments over the last decades, despite being ruled by an increasingly autocratic regime. How does Russian media cover the associated economic and policy challenges? To answer, we use the economic policy uncertainty indexes as proxies for media coverage, together with a limited set of variables reflecting both domestic and international developments. Our main findings come from a VEC model estimated with two cointegrating vectors, encompassing two long-term equilibria. A first cointegrating vector describes the domestic political context, highlighting the key role that media coverage can play in supporting autocratic regimes. While the second cointegrating vector is associated with international developments, portraying swings in global risk appetite, we find that deviations from it can, too, drive popular support for the incumbent president. To see more precisely how Russian media coverage can be used as a policy instrument, we employ several narrative proxies and find that (only in the short run) some of these might be used to exert control and influence, while others to justify policy errors or successes.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/264303
    Edition: This version April 2022
    Series: Working paper / Dipartimento di Economia e Finanza, Università Cattolica del Sacro Cuore ; n. 115 (April 2022)
    Subjects: Economic policy uncertainty; media coverage; cointegration analysis
    Scope: 1 Online-Ressource (circa 24 Seiten), Illustrationen
  7. Television market size and political accountability in the US house of representatives
    Author: Balles, Patrick; Matter, Ulrich; Stutzer, Alois
    Published: May 2022
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    This paper examines the role of local TV market structure in US congressional politics, exploiting variation in the overlaps of political markets and TV markets. Local TV stations are hypothesized to report relatively more per US House representative... more

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    This paper examines the role of local TV market structure in US congressional politics, exploiting variation in the overlaps of political markets and TV markets. Local TV stations are hypothesized to report relatively more per US House representative in less populous markets (where the number of House districts covered is smaller), leading to better informed voters and more accountable representatives. We find that smaller markets are indeed associated with (i) higher coverage of representatives, and (ii) a higher level of voters' knowledge about their representatives. However, (iii) representatives of smaller and more congruent markets are only more likely to decide aligned with their constituents' policy preferences in highly competitive districts. This evidence suggests that local political news coverage on TV serves as a complement rather than a substitute in holding members of the US Congress accountable.

     
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    Media type: Book
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    hdl: 10419/263493
    Series: Discussion paper series / IZA ; no. 15277
    Subjects: political accountability; market congruence; media coverage; TV markets; legislative voting; US Congress; voter knowledge; campaign finance
    Scope: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  8. Does data disclosure improve local government performance?
    evidence from Italian municipalities
    Author: Lockwood, Ben; Porcelli, Francesco; Redoano, Michela; Schiavone, Antonio
    Published: December 2022
    Publisher:  CESifo, Munich, Germany

    We exploit the introduction of an open data online platform - part of a transparency program initiated by the Italian Government in late 2014 - as a natural experiment to analyse the effect of data disclosure on mayors' expenditure and public good... more

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    We exploit the introduction of an open data online platform - part of a transparency program initiated by the Italian Government in late 2014 - as a natural experiment to analyse the effect of data disclosure on mayors' expenditure and public good provision. First, we analyse the effect of the program by comparing municipalities on the border between ordinary and special regions, exploiting the fact that the latter regions did not participate in the program. We find that mayors in ordinary regions immediately change their behaviour after data disclosure by improving the disclosed indicators, and that the reaction depends also on their initial relative performance, a yardstick competition effect. Second, we investigate the effect of mayors' attention to data disclosure within treated regions by tracking their daily accesses to the platform, which we instrument with the daily publication of newspaper articles mentioning the program. We find that mayors react to data disclosure by decreasing spending via a reduction of service provision, resulting in an aggregate decrease in efficiency. Overall, mayors seem to target variables that are disclosed on the website at the expense of variables that are less salient.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/271799
    Series: CESifo working papers ; 10155 (2022)
    Subjects: open data; local government; media coverage; OpenCivitas
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  9. Bad science: retractions and media coverage
    Author: Alabrese, Eleonora
    Published: December 2022
    Publisher:  CESifo, Munich, Germany

    Flawed research can be harmful both within and outside of academia. Even when published research has been retracted and refuted by the scientific community, it may continue to be a source of misinformation. The media can play an important role in... more

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    Flawed research can be harmful both within and outside of academia. Even when published research has been retracted and refuted by the scientific community, it may continue to be a source of misinformation. The media can play an important role in drawing broader attention to research, but may also ensure that research, once retracted, ceases to feature in popular discourse. Yet, there is little evidence on whether media reporting influences the retraction process and authors' careers. Using a conditional difference-in-differences strategy, this paper shows that articles that gained popularity in the media at publication and were later retracted face heavy citation losses, while subsequent citations become more accurate. Further, authors of such papers see a permanent decline in research output. Lastly, the paper provides evidence that media can influence both the likelihood of retraction and its timing, highlighting that the media can play an important role in contributing to the integrity of the research process.

     
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    Source: Union catalogues
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    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/271839
    Series: CESifo working papers ; 10195 (2022)
    Subjects: science; retractions; media coverage; misinformation; Altmetric; citations; career impact
    Scope: 1 Online-Ressource (circa 102 Seiten), Illustrationen
  10. What is the media impact of research in economics?
    Author: Ziegler, Lennart
    Published: July 2021
    Publisher:  Universität Wien, Department of Economics, [Wien]

    Many research institutions aim to have a strong public impact but little evidence exists on the extent to which research findings reach a wider audience. Using a large sample of studies released in the working paper series of the National Bureau of... more

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    Many research institutions aim to have a strong public impact but little evidence exists on the extent to which research findings reach a wider audience. Using a large sample of studies released in the working paper series of the National Bureau of Economic Research, I identify online coverage of research findings in 6 major news outlets. The analysis shows significant coverage rates in most newspapers in the first month after study release. Overall, about every 11th working paper is covered at least once during this period. I also find that media reporting is correlated with several author and study characteristics. While differences in coverage between most research areas are modest, empirical as well as US-focused studies receive substantially more attention. In particular, widely cited papers are covered more frequently, showing that academic success of studies serves as a strong predictor for wider public impact.

     
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    Format: Online
    Series: Working paper / Universität Wien, Department of Economics ; no. 21, 03
    Subjects: Economics research; media coverage; public impact
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  11. "Whatever It Takes!"
    how tonality of TV-news affected government bond yield spreads during the European debt crisis
    Author: Hirsch, Patrick; Feld, Lars P.; Köhler, Ekkehard A.; Thomas, Tobias
    Published: February 2024
    Publisher:  CESifo, Munich, Germany

    Were government bond risk premia affected by the media in addition to the effects of major events? Revisiting the European debt crisis, we analyze the role of television news in the rise and re-convergence of GIIPS bond spreads vis-à-vis Germany from... more

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    Were government bond risk premia affected by the media in addition to the effects of major events? Revisiting the European debt crisis, we analyze the role of television news in the rise and re-convergence of GIIPS bond spreads vis-à-vis Germany from 2007 to 2016. We use a dataset of more than one million human-coded news items from leading newscasts worldwide to identify over 25,000 news on the Eurozone and country-specific economic topics. Our findings emphasize the relevance of the tonality of news, such that an increasing share of positive (negative) news correlates with a decrease (increase) in spreads. Content-based endogenous clustering of news highlights the importance of news about institutions providing stability and “international financial support” to distressed countries in reducing bond spreads. Moreover, weekend news enables us to establish a causal link between country-specific news coverage and changes in spreads on the subsequent trading day.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    hdl: 10419/296069
    Series: CESifo working papers ; 10980 (2024)
    Subjects: media coverage; TV newscast; tonality; Eurozone crisis; GIIPS bond yield spreads
    Scope: 1 Online-Ressource (circa 45 Seiten), Illustrationen