Research Discussion Paper – RDP 2023-06 Firms' Price-setting Behaviour: Insights from Earnings Calls

Contents

• Introduction
• Data
• Index Construction
• Index Validation
• Measuring Tense
• Firms' Price-setting Behaviour
• Conclusion
• Appendix A: Constructing the Dictionary-based Indices
• Appendix B: Matched Sample Results
• Appendix C: Tense Comparisons
• Appendix D: Correlations between Sentiment Indices
• References

This paper has benefited from input from Michael McMahon, John Simon, Jonathan Hambur, Susan Black, Yad Haidari, Thomas Williams, Finn Lattimore and seminar participants at the Australian Conference of Economists 2023, the RBA–APRA Business Coding Knowledge Sharing Session and the e61/MQBS Big Data Workshop. Many thanks also to Harry Braithwaite for his assistance in the early stages of this work. The views expressed in this paper are those of the authors and should not be attributed to the Reserve Bank of Australia. Any errors are the sole responsibility of the authors.