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Economic and Social Impacts of the Media

Author

Listed:
  • Stefano DellaVigna
  • Eliana La Ferrara

Abstract

In this survey, we review the literature on the impact of exposure to the media. We cast a wide net and cover media impacts on education, family choices, labor and migration decisions, environmental choices, health, crime, public economics, attitudes, consumption and savings, and development economics. We stress five themes. First, the demand for entertainment plays a key role, with the economic impacts emerging largely as by-products. Second, to understand the media effects one cannot just focus on the direct effect of exposure but one needs to take into account the crowding-out of alternative activities (substitution effect). Third, the sources of identification play a critical role in determining what is known: credible estimates of short- and long run effects are available for some topics and some media but not for others. Fourth, most of the evidence on social and economic impacts is for exposure to the entertainment media such as television, as opposed to the printed press. Fifth, for the policy impacts both the substitution effect of media exposure and the demand for entertainment play an important role.

Suggested Citation

  • Stefano DellaVigna & Eliana La Ferrara, 2015. "Economic and Social Impacts of the Media," NBER Working Papers 21360, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:21360
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    More about this item

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D10 - Microeconomics - - Household Behavior - - - General
    • H4 - Public Economics - - Publicly Provided Goods
    • I10 - Health, Education, and Welfare - - Health - - - General
    • I20 - Health, Education, and Welfare - - Education - - - General
    • J0 - Labor and Demographic Economics - - General
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • L96 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Telecommunications
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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