2005 PhD Graduate, Economics
Department,
London Business
School
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Academic Address
University of PeloponneseTripolis 22100
Arcadia - Greece
E-mail: gsiour@uop.gr
Fields of Specialization
Primary: International Financial Economics, Economic Development and Growth, Political Economy
Secondary:
Applied
Econometrics,
Statistics
Do
we heal or hit the economic crises?
Konstantinos
Demetriou and Gregorios Siourounis
Economics
Department,
We construct a simple count index of the
word “Economic Crises” in articles
showing in
the electronic versions of Financial
Times and Eleftherotypia,
a Greek
newspaper with enough records of daily publications. The idea is based
on the
simple notion of private vs public information and how these two
interact and
affect our decision regarding real time economic actions (see, for
example,
related academic research from Marios
Angeletos at http://econ-www.mit.edu/faculty/angelet).
The DES index shows that
although the financial turmoil and economic slow down
has started globally a lot earlier than in September 2008, the collapse
of
Lehman Brothers made the news and worked as a solid signal to each and
every
one of us in such a clear cut way that we started acting like a crises
has hit
all of us instantaneously, altering abruptly the behavior of all
citizens
accelerating the real effects of the financial crisis, something than
produced
even more coverage of the crises as we see in the explosion of articles
containing the word “economic crises”.
