| By: |
Ulrich Kaiser (University of Southern Denmark at Odense);
Hans Christian Kongsted (Institute of Economics, University of Copenhagen) |
| Abstract: |
We analyze the relationship between website visits, magazine demand and the
demand for advertising pages using Granger non-causality tests on the basis of
an extensive and externally audited quarterly data set for the German magazine
market spanning the period I/1998 to II/2004. We use traditional panel data
estimators and an estimator suitable for heterogeneity across magazines. We
find very robust evidence for positive effects from website visits to
circulation. There is no evidence of causality running in the opposite
direction. Our findings are contrary to the widespread belief that the
Internet will cannibalize print media markets. |
| Keywords: |
Granger causality; heterogeneous panel data models; Mean Group Estimation; website visits; magazine circulation |
| JEL: |
C32 C33 L11 |
| Date: |
2005–04 |
| URL: |
https://d.repec.org/n?u=RePEc:kud:kuieca:2005_07 |