| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5939 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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