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The Influence of Negative Newspaper Coverage on Consumer Confidence: The Dutch CaseDavid HollandersTilburg University - Center and Faculty of Economics and Business Administration Rens VliegenthartUniversity of Amsterdam July 6, 2009 CentER Discussion Paper Series No. 2009-55 Abstract: This paper studies the empirical relationship between the real economy, consumer confidence and economic news coverage in national newspapers for the Netherlands during the period 1990-2008. Media-attention for economic developments Granger-causes consumer confidence, with more negative news decreasing consumer confidence; this result holds when controlling for the real economy (stock-market). This suggests that in line with many popular concerns negative news is among factors influencing the hardness of the landing of the current credit-crisis, whereas positive news might have been a contributing factor in the build-up of asset- and housing bubbles.
Number of Pages in PDF File: 16 Keywords: Consumer Confidence, Media, VAR-analysis JEL Classification: E00, E32, H31 working papers seriesDate posted: July 7, 2009Suggested Citation |
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