El mercado cambiario y los contenidos en la prensa: un analisis empírico

J. Daniel Aromi

Estudios Economicos, 2014, vol. 031 (Nueva Serie), issue 63, 3-23

Abstract: The links between the foreign Exchange market and the attention level allocated in a newspaper are analyzed. The evidence shows that higher values for the lagged attention index are associated to a lower level of mean devaluation and to higher volatility levels. These links are stronger in times of high volatility. Beyond linear associations, the attention index is found to have high predictive value for large variations in the exchange rate. The documented patterns are consistent with instances of exchange rate overreaction and with the coordination of actions through public signals

Keywords: tipo de cambio; atención; medios de comunicación; exchange rate; attention; media (search for similar items in EconPapers)
JEL-codes: F31 G02 G14 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:uns:esteco:v:31:y:2014:i:63:p:3-23

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