Project information
Using textual data in DSGE models

Project Identification
Project Period
1/2024 - 12/2024
Investor / Pogramme / Project type
Masaryk University
MU Faculty or unit
Faculty of Economics and Administration

This research proposes a novel integration of textual data extracted from US newspaper articles into dynamic stochastic general equilibrium (DSGE) models. Numerous recent studies have suggested that text-based indicators contain additional information not present in commonly used economic series. Using a hybrid model developed by Boivin and Giannoni (2006), we aim to investigate to what extent text-based indicators can provide relevant information about the dynamics of the economy in an estimated state-of-the-art DSGE model.

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