In democracies voters rely on media outlets to learn about politically salient issues. This raises an important question: how strongly can media affect public perceptions? This paper uses a natural experiment – the staggered introduction of the Digital TV signal in Italy – to measure the...

This paper contains an overview of the relevant economic research literature on the digital transformation of news markets and the impact on the quality of news. It compares various definitions of fake news, including false news and other types of disinformation and finds that there is no...

Online sources sometimes publish information that is false or intentionally misleading. We study the role of social networks and advertising on social networks in the dissemination of false news stories about childhood vaccines. We document that anti-vaccine Facebook groups disseminate false...

Macroeconomic news announcements are elaborate and multi-dimensional. We consider a framework in which jumps in asset prices around macroeconomic news and monetary policy announcements reflect both the response to observed surprises in headline numbers and latent factors, reflecting other...

The widespread usage of social media is bringing a double-edged sword in Indonesia which has the third highest annual growth of social media user in the world (WeAreSocial, 2018). At one point, social media usage is boosting Indonesia's business environment (Lake, 2014). On the other hand; it...

This paper demonstrates a strong inverse connection between daily stock returns and Congress in session. Our key conjecture is when Congress is in session, more media attention focuses on congressional activity than on the stock market; the more the news attention is political, the lower the...

This paper investigates the impact of business and political news on stock market returns in the Gulf Cooperation Council (GCC) countries. For this purpose, it employs a Markov switching model including a separate index for each of the two categories of news considered. The results indicate the...