Building Daily Economic Sentiment Indicators

Pilar Rey del Castillo

No 10087, CESifo Working Paper Series from CESifo

Abstract: The availability of copious amounts of data produced by the increasing datification of our society is nowadays deemed an opportunity to produce timely and convenient statistical information. This paper shows the building of economic sentiment indexes from the texts of the most read economic newspapers in Spain. The data are collected through the scraping of the Digital Periodical and Newspaper Library website. To compute the sentiment, an existing emotional lexicon for Spanish words has been customized, allowing for inferring sentiment for words in texts. The resulting indexes are later compared to other well-known indicators that try to monitor similar or related phenomena.

Keywords: index numbers; large datasets; leading indicators; proxy variables; sentiment analysis; web scraping (search for similar items in EconPapers)
JEL-codes: C18 C43 C55 C89 (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-big
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.cesifo.org/DocDL/cesifo1_wp10087.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_10087

Access Statistics for this paper

More papers in CESifo Working Paper Series from CESifo Contact information at EDIRC.
Bibliographic data for series maintained by Klaus Wohlrabe ().