This article estimates the subjective well‐being of the oasis, peripheral and border region of Drâa‐Tafilalet in Morocco through sentiment analysis of its media coverage. We extracted nearly 174,000 articles published between October 1991 and September 2020 from the website of a Moroccan...

Using newly digitized data on the growth of the telegraph network in America during 1840-1852, the paper studies the impacts of the electric telegraph on national elections. I use proximity to daily newspapers with telegraphic connections to Washington to generate plausibly exogenous variation...

Sie finden meist ohne große öffentliche Aufmerksamkeit statt und betreffen nur eine kleine Beschäftigtengruppe: die Tarifverhandlungen für Redakteur:innen an Tageszeitungen. Das heißt aber nicht, dass sie schnell, unkompliziert und konfliktfrei über die Bühne gehen. Im Gegenteil: In den...

In this paper, I investigate how inflation signals from different types of newspapers influence household inflation expectations in Germany. Using text data and the large language model GPT-3.5-turbo-1106, I construct newspaper-specific indicators and find significant heterogeneity in their...

In this study, we propose a novel approach to detect supply-side media bias, independent of external factors like ownership or editors' ideological leanings. Analyzing over 100,000 articles from The New York Times (NYT) and The Wall Street Journal (WSJ), complemented by data from 22 million...

This paper uses quantitative and qualitative text analysis methods to study the discourse surrounding Germany's current account surplus across seven national newspapers. The results of the analysis highlight that the German surpluses are a contested discursive subject across the different...

Recent decades have seen major changes to the local media environment in the United States, with the absorption of many formerly independent local TV stations into conglomerates. Using a comprehensive dataset of acquisitions, we examine the effects of ownership by the three largest television...

Using newly digitized data on the growth of the telegraph network in America during 1840-1852, the paper studies the impacts of the electric telegraph on national elections. I use proximity to daily newspapers with telegraphic connections to Washington to generate plausibly exogenous variation...

A war-related factor model derived from textual analysis of media news reports explains the cross section of expected asset returns. Using a semi-supervised topic model to extract discourse topics from 7,000,000 New York Times stories spanning 160 years, the war factor predicts the cross section...

Using a semi-supervised topic model on 7,000,000 New York Times articles spanning 160 years, we test whether topics of media discourse predict future stock and bond market returns to test rational and behavioral hypotheses about market valuation of disaster risk. Focusing on media discourse...

Previous literature has suggested that newspaper publishers should optimize how they advertise their online subscriptions. However, empirical findings on the effectiveness of advertising messages in increasing people’s willingness to pay for such online subscriptions are still rare. Therefore,...

This research examines the impact of the Covid-19 pandemic on the newspaper business model innovation (BMI). The results of this study prove that the impact of the pandemic has a positive effect on BMI. The impact of the pandemic has also been shown to have a positive influence on newspapers...

This paper investigates the effects of inflation news coverage on market-based inflation expectations and outcomes in the inflation-protected securities market. We employ a large corpus of news headlines from top U.S. newspapers and market data on the U.S. yield curve and inflation-protected...

The internet has challenged the traditional news publisher business model by increasing competition for audiences and advertising revenue. Publishers have responded by seeking revenue transfers from the large, profitable digital platforms including Google and Meta's Facebook. But the loser in an...

We measure immigrant narratives in German newspapers and assign each sentence to one of seven themes. Using natural language processing (NLP) tools and customized dictionaries, we analyze over 100,000 articles. 45 percent of narratives are on Foreign Religion, 23 percent on Cultural Integration,...

Does media coverage of a firm have a causal effect on the volatility of its stock price and, if so, is this of aggregate importance? This paper identifies a robust link between media coverage in the Financial Times print newspaper and a firm's intra-day stock price volatility. This effect is not...

This paper quantifies mainstream media coverage of Bitcoin to understand how a once niche interest entered public culture. From 2011 to 2022, five key narratives are identified as criminality, culture, politics, price and technology. Price, politics, and culture have become more prominent in...

Does media coverage of a firm have a causal effect on the volatility of its stock price and, if so, is this of aggregate importance? This paper identifies a robust link between media coverage in the Financial Times print newspaper and a firm’s intra-day stock price volatility. This effect is...

We examine whether the local press is an effective governance mechanism for monitoring and inhibiting financial adviser misconduct. Using local newspaper closure as a negative shock to the local press, we find that financial advisers who are located in counties with newspaper closures are more...

We study the relationship between media portrayals of inflation and consumer sentiment. Using tools from natural language processing, we uncover two competing topics in US news coverage of inflation: the first relates inflation to financial variables, while the second relates inflation to real...

We develop a new monthly indicator of supply bottlenecks using newspaper articles. The supply bottlenecks index (SBI) provides a consistent narrative of supply issues related to wars, natural disasters, strikes and, most recently, the COVID-19 pandemic. Innovations in the SBI have important...

We study social mobility by exploiting a newly collected dataset of the surnames contained in local newspapers during almost a century in the Italian Province of Modena (NUTS-3 level). Under the hypothesis that the surnames that appear in the newspapers have a particular social relevance,...

This article presents a theoretical model of the strategic interaction between a newspaper and a digital platform. For a broad range of consumer preferences, entry by the digital platform causes the newspaper to reduce its readership, quality and advertising, and also to lose advertising...