Table 1 Variable descriptions
From: Can news-based economic sentiment predict bubbles in precious metal markets?
Variable | Description | Source |
|---|---|---|
NESI | The news-based economic sentiment index | Developed by Shapiro, Hale, Sudhof, and Wilson (2020), available at San Francisco Fed’s website: https://www.frbsf.org/economicresearch/indicators-data/daily-news-sentiment-index/ |
MCSI | Consumer Sentiment Index | Developed by University of Michigan, retrieved from FRED, Federal Reserve Bank of St. Louis: https://fred.stlouisfed.org/series/UMCSENT |
SIBW | Sentiment index of Baker and Wurgler (2006) | Developed by Baker and Wurgler (2006), available at: http://people.stern.nyu.edu/jwurgler/ |
Inflation | Measured as the monthly percentage change in Consumer Price Index (CPI) | Federal Reserve Economic Data of the Federal Reserve Bank of St. Louis |
USDI | USD dollar index | Federal Reserve Economic Data of the Federal Reserve Bank of St. Louis |
EFR | Effective Federal Funds Rate | Federal Reserve Economic Data of the Federal Reserve Bank of St. Louis |
T-Spread | Interest rate yield spread measured as the difference between 10-year and 2-year US bonds constant maturity rate | Federal Reserve Economic Data of the Federal Reserve Bank of St. Louis |
GEA | Kilian global real economic activity index | Federal Reserve Bank of Dallas |