This paper is devoted to the role of information context in the dynamics of consumption/savings decisions. The … consumption to the detriment of savings, which then reduces the investment base of the economy. The authors analyze the connection … of the tonality of news and its changes with the real business cycle. The authors found that the information cycle with …

Wurgler, 2005) to provide a good explanation for many of our findings. Some results, though, suggest that information …