Publication
Apr 2009
This paper uses weekly survey data on short- and medium-term sentiment of German investors to estimate the parameters of a stochastic model of opinion dynamics. The author finds that short-term sentiment is governed by strong social interaction with abrupt changes of direction. Medium-term sentiment, on the other hand, is a slowly moving process with more moderate social interaction.
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English (PDF, 44 pages, 612 KB) |
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Author | Thomas Lux |
Series | Kiel Institute Working Papers |
Issue | 1514 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2009 Kiel Institute for the World Economy |