Sadique, Shibley; In, Francis; Veeraraghavan, Madhu; … - In: Journal of Macroeconomics 37 (2013) C, pp. 81-92
This study employs text-analysis software to analyze the contents of the Federal Reserve Beige Book summary of national economic and business conditions, with a particular focus on the predictive content of the text. We show that the Beige Book language is a good predictor of economic turning...