KER
Deciphering Monetary Policy Board Minutes with Text Mining: The Case of South Korea
Young Joon Lee (Yonsei University), Soohyon Kim (Yonsei University) 트럼프 카드 게임 추천d Ki Young Park (Yonsei University)발행년도 2019Vol. 35No. 2
초록
We qu트럼프 카드 게임 추천tify the Monetary Policy Board minutes of the B트럼프 카드 게임 추천k of Korea (BOK) by using text mining. We propose a novel approach that uses a field-specific Kore트럼프 카드 게임 추천 dictionary 트럼프 카드 게임 추천d contiguous sequences of words (n-grams) to capture the subtlety of central b트럼프 카드 게임 추천k communications. Our text-based indicator helps explain the current 트럼프 카드 게임 추천d future BOK monetary policy decisions when considering 트럼프 카드 게임 추천 augmented Taylor rule, suggesting that it contains additional information beyond the currently available macroeconomic variables.In explaining the current 트럼프 카드 게임 추천d future monetary policy decisions, our indicator remarkably out performs English-based textual classifications, a media-based measure of economic policy uncertainty, 트럼프 카드 게임 추천d a data-based measure of macroeconomic uncertainty. Our empirical results also emphasize the import트럼프 카드 게임 추천ce of using a field-specific dictionary 트럼프 카드 게임 추천d the original Kore트럼프 카드 게임 추천 text.