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Media sentiment emotions and consumer energy prices

Author

Listed:
  • Rogmann, Jennifer
  • Beckmann, Joscha
  • Gaschler, Robert
  • Landmann, Helen

Abstract

This paper analyzes how sentiment from different news sources affect[s] energy prices for consumers. We assess the impact of sentiments derived from newspaper and social media on prices of gasoline, heating oil and natural gas from 2006 until 2021. Having shown that sentiments derived from social media and newspapers differ significantly in the first step, we show that newspaper sentiments have significant effects on prices in times of high news coverage while the effects of social media news are negligible. Finally, we illustrate that strong emotions in newspaper coverage have additional price effects and analyze a potential factor structure for out-of-sample forecasts.

Suggested Citation

  • Rogmann, Jennifer & Beckmann, Joscha & Gaschler, Robert & Landmann, Helen, 2024. "Media sentiment emotions and consumer energy prices," Energy Economics, Elsevier, vol. 130(C).
    • Handle: RePEc:eee:eneeco:v:130:y:2024:i:c:s0140988323007764
    DOI: 10.1016/j.eneco.2023.107278
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    More about this item

    Keywords

    Sentiment; Emotion; Energy price; Media;
    All these keywords.

    JEL classification:

    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • Q02 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Commodity Market
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting

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