nep-cul New Economics Papers
on Cultural Economics
Issue of 2020‒08‒31
two papers chosen by
Roberto Zanola
Università degli Studi del Piemonte Orientale

  1. Economic Reality, Economic Media and Individuals' Expectations By Kristoffer Persson
  2. Analysis of Tennessee Wine and Grape Industry Trends, 2020 By Hughes, David W.

  1. By: Kristoffer Persson
    Abstract: This paper investigates the relationship between economic media sentiment and individuals' expetations 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 learning method on a data set of Swedish economic media during the period 1993-2017. We classify the sentiment of 179,846 media items, stemming from 1,071 unique media outlets, and use the number of news items with positive and negative sentiment to construct a time series index of economic media sentiment. Our results show that this index Granger-causes individuals' perception of macroeconomic conditions. This indicates that the way the economic media selects and frames macroeconomic news matters for individuals' aggregate perception of macroeconomic reality.
    Date: 2020–07
  2. By: Hughes, David W.
    Abstract: This publication presents an analysis of recent trends for the Tennessee wine and grape industries. Growth in both the wine and grape sectors has been substantial but has recently slowed. These sectors have begun to lag behind those of key neighboring states. The data for these states are also presented for purposes of comparison. The COVID-19 pandemic has important implications for the Tennessee industry. A set of policy recommendations aimed at leveling the playing field for Tennessee’s wine and grape industry with that of other states, bolstering sales, and increasing production of Tennessee wines and Tennessee grapes are also made.
    Keywords: Agribusiness
    Date: 2020–08–28

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