Economic and Social Impacts of the Media
Stefano DellaVigna () and
Eliana La Ferrara ()
No 21360, NBER Working Papers from National Bureau of Economic Research, Inc
In this survey, we review the literature on the impact of exposure to the media. We cast a wide net and cover media impacts on education, family choices, labor and migration decisions, environmental choices, health, crime, public economics, attitudes, consumption and savings, and development economics. We stress five themes. First, the demand for entertainment plays a key role, with the economic impacts emerging largely as by-products. Second, to understand the media effects one cannot just focus on the direct effect of exposure but one needs to take into account the crowding-out of alternative activities (substitution effect). Third, the sources of identification play a critical role in determining what is known: credible estimates of short- and long run effects are available for some topics and some media but not for others. Fourth, most of the evidence on social and economic impacts is for exposure to the entertainment media such as television, as opposed to the printed press. Fifth, for the policy impacts both the substitution effect of media exposure and the demand for entertainment play an important role.
JEL-codes: A13 D01 D10 H4 I10 I20 J0 K42 L82 L96 O10 (search for similar items in EconPapers)
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Note: CH DEV ED EEE HC IO LS PE POL
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Published as Handbook of Media Economics Volume 1, Pages 723-768 Chapter 19 - Economic and Social Impacts of the Media Stefano DellaVigna Eliana La Ferrara https://doi.org/10.1016/B978-0-444-63685-0.00019-X
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Working Paper: Economic and Social Impacts of the Media (2015)
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