Essays on Expectations : Information, Formation and Outcomes
The first chapter investigates the relationship between economic media sentiment and individuals’ expectations and perceptions about economic conditions. We test if economic media sentiment Granger-causes individuals’ expectations and opinions concerning economic conditions, controlling for macroeconomic variables. We develop a measure of economic media sentiment using a supervised machine learninThe first chapter investigates the relationship between economic media sentiment and individuals’ expectations and perceptions about economic conditions. We test if economic media sentiment Granger-causes individuals’ expectations and opinions concerning economic conditions, controlling for macroeconomic variables. We develop a measure of economic media sentiment using a supervised machine learnin