Media sentiment emotions and consumer energy prices

Jennifer Rogmann, Joscha Beckmann, Robert Gaschler and Helen Landmann

Energy Economics, 2024, vol. 130, issue C

Abstract: This paper analyzes how sentiment from different news sources affect[s] energy prices for consumers. We assess the impact of sentiments derived from newspaper and social media on prices of gasoline, heating oil and natural gas from 2006 until 2021. Having shown that sentiments derived from social media and newspapers differ significantly in the first step, we show that newspaper sentiments have significant effects on prices in times of high news coverage while the effects of social media news are negligible. Finally, we illustrate that strong emotions in newspaper coverage have additional price effects and analyze a potential factor structure for out-of-sample forecasts.

Keywords: Sentiment; Emotion; Energy price; Media (search for similar items in EconPapers)
JEL-codes: G41 Q02 Q41 Q43 Q47 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:130:y:2024:i:c:s0140988323007764

DOI: 10.1016/j.eneco.2023.107278

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