Are editors’ choices of front page news based on the potential complementarities between the news items? This paper studies front page choices made by editors of major newspapers in the US. I document that newspapers front pages are biased to certain combinations of news on top of biased to...

We propose an approach to measuring the state of the economy via textual analysis of business news. From the full text of 800,000 Wall Street Journal articles for 1984-2017, we estimate a topic model that summarizes business news into interpretable topical themes and quantifies the proportion of...