Stiefel, M.; Vivès, R. (2018). 'Whatever it takes' to change beliefs: Evidence from Twitter. En 2nd International Conference on Advanced Reserach Methods and Analytics (CARMA 2018). Editorial Universitat Politècnica de València. 254-254. https://doi.org/10.4995/CARMA2018.2018.8328
Por favor, use este identificador para citar o enlazar este ítem: http://hdl.handle.net/10251/111834
Title:
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'Whatever it takes' to change beliefs: Evidence from Twitter
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Author:
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Stiefel, Michael
Vivès, Rémi
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Issued date:
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Abstract:
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[EN] The sovereign debt literature emphasizes the possibility of avoiding a selffulfilling
default crisis if markets anticipate the central bank to act as the
lender of last resort. Motivated by the events of summer 2012 ...[+]
[EN] The sovereign debt literature emphasizes the possibility of avoiding a selffulfilling
default crisis if markets anticipate the central bank to act as the
lender of last resort. Motivated by the events of summer 2012 in the
eurozone, this paper investigates the extent to which changes in beliefs about
an intervention of the European Central Bank (ECB) explain the sudden
reduction of government bond yields for the so-called PIIGS countries. To
proxy beliefs, we study Twitter data from July to September 2012 and extract
beliefs using machine learning techniques. Our results are consistent with the
theoretical prediction that a central bank, which credibly commits to an
intervention, can restore the fundamental "good" equilibrium.
[-]
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Subjects:
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Web data
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Self-fulfilling default crisis
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Unconventional monetary policy
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Twiter data
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Internet data
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Big
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Big data
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QCA
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PLS
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SEM
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Conference
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Copyrigths:
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Reconocimiento - No comercial - Sin obra derivada (by-nc-nd)
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ISBN:
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9788490486894
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Source:
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2nd International Conference on Advanced Reserach Methods and Analytics (CARMA 2018).
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DOI:
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10.4995/CARMA2018.2018.8328
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Publisher:
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Editorial Universitat Politècnica de València
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Publisher version:
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http://ocs.editorial.upv.es/index.php/CARMA/CARMA2018/paper/view/8328
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Conference name:
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CARMA 2018 - 2nd International Conference on Advanced Research Methods and Analytics
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Conference place:
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Valencia, Spain
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Conference date:
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Julio 12-13,2018
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Description:
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Resumen de la comunicación
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Type:
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Capítulo de libro
Comunicación en congreso
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