Consumer reaction to inflation news: simulation analysis of stress in response to the news language

Project Title: Consumer reaction to inflation news: simulation analysis of stress in response to the news language
Program:
CAREERS (323)

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Status: Complete
Project Leader
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Project Leader:
Nonna Sorokina

Email: sorokina@psu.edu
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Student-facilitator(s):
JENNIFER Yin (28487)

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Project Information
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Project Description:
Collect news using Google search and Lexis Nexis period press repository. Collect CPI inflation data (aggregate and components) and further develop textual analysis-based routine to associate news with change in inflation. Use generative AI to produce text with targeted expectations. 

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Project Institution: Penn State University
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Anchor Institution: CR-Penn State
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Start as soon as possible.: No
Project Urgency: Already behind3Start date is flexible
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Launch Presentation Date: 05/17/2024
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Wrap Presentation Date: 08/14/2024
Project Milestones:
- Milestone Title: Tune up Web scraper and NPL classifier; Collect inflation data
  Milestone Description: Adapt pre-built code to collect inflation-related news. Identify proper search terms, clean up the results. Obtain and organize CPI data. Adjust existing NLP code to associate news with changes in inflation measure by CPI. 
  Completion Date Goal: 2024-05-10
- Milestone Title: Associate inflation expectations and moves with PULSE survey data
  Milestone Description: Link actual and expected changes in inflation to the PULSE dataset that contains health-related data and demographics. Explore  heterogeneity in reactions to inflation and inflation expectations using regression analysis. 
  Completion Date Goal: 2024-06-10
- Milestone Title: Create targeted text modules with generative AI
  Milestone Description: Based on the data obtained in (1) and (2) explore generating keywords and texts for inflation news that are expected to trigger/avoid certain reactions among different groups of population. 
  Completion Date Goal: 2024-07-10

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Final Report
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