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The impact of public attention during the COVID-19 pandemic

Author

Listed:
  • Platania, Federico
  • Toscano Hernandez, Celina
  • Moreno, Manuel
  • Appio, Francesco

Abstract

We examine the impact of public attention on the market during the COVID-19 outbreak. We use Google search engine to measure the level of public attention towards pandemic-related topics and analyze the effect on the 11 S&P sectors. Our results indicate that pandemic-related public attention has a substantial and adverse impact on the market. Furthermore, as governments often increase and announce stimulus packages during periods of heightened uncertainty and negative public attention, our findings indicate that higher levels of economic policy uncertainty, which are often accompanied by financial incentive announcements, can mitigate the negative impact of public attention.

Suggested Citation

  • Platania, Federico & Toscano Hernandez, Celina & Moreno, Manuel & Appio, Francesco, 2023. "The impact of public attention during the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 58(PA).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pa:s1544612323006943
    DOI: 10.1016/j.frl.2023.104322
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    More about this item

    Keywords

    COVID-19; Uncertainty; Public attention; Digital technologies; Google;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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