Soft information and economic activity: Evidence from the Beige Book
| dc.contributor.author | Sadique, Shibley | |
| dc.contributor.author | In, F. | |
| dc.contributor.author | Veeraraghavan, M. | |
| dc.contributor.author | Wachtel, P. | |
| dc.date.accessioned | 2017-01-30T13:34:51Z | |
| dc.date.available | 2017-01-30T13:34:51Z | |
| dc.date.created | 2013-11-21T20:00:29Z | |
| dc.date.issued | 2013 | |
| dc.identifier.citation | Sadique, Shibley and In, Francis and Veeraraghavan, Madhu and Wachtel, Paul. 2013. Soft information and economic activity: Evidence from the Beige Book. Journal of Macroeconomics. 37 (3): pp. 81-92. | |
| dc.identifier.uri | http://hdl.handle.net/20.500.11937/33060 | |
| dc.identifier.doi | 10.1016/j.jmacro.2013.01.004 | |
| dc.description.abstract |
This study employs text-analysis software to analyze the contents of the Federal Reserve Beige Book summary of national economic and business conditions, with a particular focus on the predictive content of the text. We show that the Beige Book language is a good predictor of economic turning points as it often provides an early indication of future economic activities. During economic upswings, positive tone becomes more prominent and negative tone becomes less prominent. In addition, this study is the first to document that Beige Book tone affects stock market volatility and trading volume. | |
| dc.publisher | Elsevier | |
| dc.subject | general inquirer | |
| dc.subject | textual analysis | |
| dc.subject | forecasting | |
| dc.subject | economic fluctuations | |
| dc.subject | beige book | |
| dc.title | Soft information and economic activity: Evidence from the Beige Book | |
| dc.type | Journal Article | |
| dcterms.source.volume | 37 | |
| dcterms.source.number | 3 | |
| dcterms.source.startPage | 81 | |
| dcterms.source.endPage | 92 | |
| dcterms.source.issn | 01640704 | |
| dcterms.source.title | Journal of Macroeconomics | |
| curtin.department | ||
| curtin.accessStatus | Fulltext not available |