G2TT
来源类型Discussion paper
规范类型论文
来源IDDP5939
DP5939 Inflation as a Redistribution Shock: Effects on Aggregates and Welfare
Martin Schneider; Matthias Doepke
发表日期2006-11-19
出版年2006
语种英语
摘要This paper deals with the determinants of agents' acquisition of information. Our econometric evidence shows that the general index of Italian share-prices and the series of Italy's financial newspaper sales are cointegrated, and the former series Granger-causes the latter, thereby giving support to the cognitive dissonance hypothesis: (non-professional) agents tend to buy the newspaper when share prices are high and not to buy it when share prices are low. Instead, we do not find support for the hypothesis that the agents acquire information in order to trade in the stock market: we find no relationship between quantities exchanged in the market and newspaper sales, nor between stock market volatility and newspaper sales.
主题Financial Economics
关键词Behavioural economics Time-series econometrics Empirical finance Newspapers
URLhttps://cepr.org/publications/dp5939
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/534773
推荐引用方式
GB/T 7714
Martin Schneider,Matthias Doepke. DP5939 Inflation as a Redistribution Shock: Effects on Aggregates and Welfare. 2006.
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