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Text mining for central banks

Author

Listed:
  • David Bholat
  • Stephen Hans
  • Pedro Santos
  • Cheryl Schonhardt-Bailey

Abstract

Although often applied in other social sciences, text mining has been less frequently used in economics and in policy circles, particularly inside central banks. This Handbook is a brief introduction to the field, discussing how text mining is useful for addressing research topics of interest to central banks, and providing a step-by-step primer on how to mine text, including an overview of unsupervised and supervised techniques.

Suggested Citation

  • David Bholat & Stephen Hans & Pedro Santos & Cheryl Schonhardt-Bailey, 2015. "Text mining for central banks," Handbooks, Centre for Central Banking Studies, Bank of England, number 33, December.
  • Handle: RePEc:ccb:hbooks:33
    as

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    File URL: https://www.bankofengland.co.uk/ccbs/text-mining-for-central-banks
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Text mining for central banks;

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
    • C45 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Neural Networks and Related Topics
    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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