textual analysis to convert qualitative text data into quantitative sentiment indices. First, a sentiment analysis utilizes … characteristics of sentiments. In a third step, sentiment indices are used to test the efficiency of numerical forecasts. Using 12 …-month-ahead fixed horizon forecasts, fixed-effects panel regression results suggest some informational content of sentiment …

This paper develops textual sentiment measures for China's stock market by extracting the textual tone of 60 million … messages posted on a major online investor forum in China from 2008 to 2018. We conduct sentiment extraction by using both … convolutional neural network). The market-level textual sentiment index is constructed as the average of message-level sentiment …

Based on a panel of annual data for 17 growth and inflation forecasts from 14 institutions for Germany, we analyse …

the Joint Economic Forecast, which is an in-dependent forecasting institution in Germany. Our results indicate that … decline in Germany's trend growth and a systematic failure to correctly anticipate recessions. We show that the German …