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RBA Glossary definition for IT
IT – Information Technology
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Start Spreading the News: News Sentiment and Economic Activity in Australia
23 Dec 2020
RDP
2020-08
It captures key macroeconomic events, such as economic downturns, and typically moves ahead of survey-based measures of sentiment.
https://www.rba.gov.au/publications/rdp/2020/2020-08.html
Start Spreading the News: News Sentiment and Economic Activity in Australia
23 Dec 2020
RDP
2020-08
So it allows us to study the causal effect of interest rates on sentiment more generally. ... So it is important to weigh the evidence for these two competing predictions.
https://www.rba.gov.au/publications/rdp/2020/2020-08/full.html
News, Sentiment and the Economy
23 Dec 2020
RDP
2020-08
But the NSI is timelier than almost all other indicators because it can be updated on a daily basis. ... Sharpe, Sinha and Hollrah 2017). Alternatively, it may be that the forecasts are biased in some way.
https://www.rba.gov.au/publications/rdp/2020/2020-08/news-sentiment-and-the-economy.html
Robustness Tests and Extensions
23 Dec 2020
RDP
2020-08
We see this as a conservative assumption that makes it more difficult to find a ‘causal’ effect of the news sentiment on the other variables. ... This suggests that context matters and that it is important to rely on lexicons designed for an
https://www.rba.gov.au/publications/rdp/2020/2020-08/robustness-tests-and-extensions.html
References
23 Dec 2020
RDP
2020-08
Haddow A, C Hare, J Hooley and T Shakir (2013), ‘Macroeconomic Uncertainty: What Is It, How Can We Measure It and Why Does It Matter?’, Bank of England Quarterly Bulletin,
https://www.rba.gov.au/publications/rdp/2020/2020-08/references.html
News Sentiment and Monetary Policy
23 Dec 2020
RDP
2020-08
So it allows us to study the causal effect of interest rates on sentiment more generally. ... So it is important to weigh the evidence for these two competing predictions.
https://www.rba.gov.au/publications/rdp/2020/2020-08/news-sentiment-and-monetary-policy.html
Read me
23 Dec 2020
RDP
2020-08
It also contains the following folders:. The four files in the data folder are the primary inputs to the analysis files:.
https://www.rba.gov.au/publications/rdp/2020/2020-08/read-me.html
How Do We Measure News Sentiment?
23 Dec 2020
RDP
2020-08
Download the Paper 1.48. MB. Sentiment is hard to measure as it is not directly observed. ... This approach is better able to capture the nuances in human language but it is more complex and less transparent.
https://www.rba.gov.au/publications/rdp/2020/2020-08/how-do-we-measure-news-sentiment.html
News Sentiment and the Economy
23 Dec 2020
RDP
2020-08
So, overall, it may be that changes in the NSI provide a very timely (and well measured) indicator of fluctuations in economic activity rather than causing changes in the behaviour of
https://www.rba.gov.au/publications/rdp/2020/2020-08/news-sentiment-and-the-economy-identification.html
Conclusion and Directions for Future Research
23 Dec 2020
RDP
2020-08
It may be worth looking at this more closely in future given the relative importance that policymakers place on these specific measures of activity. ... It may be worth looking at more sophisticated machine learning measures in future research (e.g.
https://www.rba.gov.au/publications/rdp/2020/2020-08/conclusion-and-directions-for-future-research.html