Does the Shock of Inflation Signals Based on Network Media Affect Residents' Welfare: Evidence from Weibo's Textual Data

NING Yu-ling; YANG Guang

Volume 39 Issue 4

Jul. 2024

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NING Yu-ling, YANG Guang. Does the Shock of Inflation Signals Based on Network Media Affect Residents' Welfare: Evidence from Weibo's Textual Data[J]. Journal of Guangdong University of Finance & Economics, 2024, 39(4): 13-32.

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NING Yu-ling, YANG Guang. Does the Shock of Inflation Signals Based on Network Media Affect Residents' Welfare: Evidence from Weibo's Textual Data[J]. Journal of Guangdong University of Finance & Economics, 2024, 39(4): 13-32.

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Does the Shock of Inflation Signals Based on Network Media Affect Residents' Welfare: Evidence from Weibo's Textual Data

School of Economics, Nankai University, Tianjin 300110, China

Received Date: 2024-05-05
Available Online: 2024-08-27
Publish Date: 2024-07-28

Abstract

Abstract

With the development of modern information technology, network media has brought increasing influence on people's life. Based on the report text of network media, the impact data of inflation signal is constructed to empirically study the impact mechanism and degree of inflation signal on residents' welfare. The results show that the increase in the number of price information shocks will improve the accuracy of residents' price expectations, which will have a positive impact on residents' welfare; the specific content and direction of inflation report will affect welfare changes, and the strengthening of inflation tone will cause welfare losses. The influence of media signals on residents' welfare exists channel heterogeneity and individual heterogeneity, that is, inflation signals of different media types will lead to different changes in residents' welfare, and media signals will also have different impacts on different groups. The increase in the number of inflation reports will improve the welfare level by influencing residents' consumption decisions and income. A stronger tone in the direction of reporting leads to higher expected inflation, higher savings, and lower welfare levels. Therefore, all sectors of society should pay attention to the important influence and transmission mode of media information, and adopt rational and reasonable ways to guide price reports to produce more positive and controllable effects.
- network media,
- inflation signal shock,
- residents' welfare,
- information technology

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References(35)

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