Granular sentiments
We propose an empirically-motivated theory of business cycles, driven by fluctuations in sentiment towards a small number of firms. We measure firm-level sentiment with computational linguistics and analyst forecast errors. We find that 50 firms can account for over 70% of the unconditional variatio...
| Main Authors: | , , , |
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| Format: | Working paper |
| Language: | English |
| Published: |
University of Oxford
2024
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