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Social Volatility and Temporal Foci as Accelerators of Economic Trends

Julia Puaschunder ()

Proceedings of the 20th International RAIS Conference, December 6-7, 2020 from Research Association for Interdisciplinary Studies

Abstract: : Based on the COVID-19 economic fallout, the article outlines that the finance world has different temporal perceptions than the actual chronological time measurement in contrast to the real economy. In the real economy, concrete constraints create a more emotional and destructive reaction to the general information about COVID-19. Social online media plays a role in loading these two groups with different affects. Comparing the economic consequence of the endogenous crunch of the 2008 World Financial Recession with the external economic shock of the COVID-19 pandemic aids to retrieve crisis-specific recovery recommendations in the overall discussion. Understanding how the social compound forms economic outcomes promises to explain how market outcomes are developed in society and can be shaped by strategic communication with special attention to new media technologies.

Keywords: Affect; Collective moods; Communication; Consumption; Coronavirus; COVID-19; Digitalization; Economic fundamentals; External shock; Information; Lockdown; News; Pandemic; Social volatility; Socio-Economics; Socio-Psychological Foundations; 2008/09 World Financial Crisis (search for similar items in EconPapers)
Pages: 12 pages
Date: 2020-12
New Economics Papers: this item is included in nep-cbe
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Published in Proceedings of the 20th International RAIS Conference on Social Sciences and Humanities, December 6-7, 2020, pages 85-97

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