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Filtering the intensity of public concern from social media count data with jumps

Matteo Iacopini, Carlo R. M. A. Santagiustina

arXiv 24 Dec 2020 · Statistics — Applications · publishedJournal of the Royal Statistical Society Series A (Statistics in Society) (2020) · 1 citations (OpenAlex)

arXiv:2012.13267 · PDF · DOI · OpenAlex · Extracted main text

Abstract

Count time series obtained from online social media data, such as Twitter, have drawn increasing interest among academics and market analysts over the past decade. Transforming Web activity records into counts yields time series with peculiar features, including the coexistence of smooth paths and sudden jumps, as well as cross-sectional and temporal dependence. Using Twitter posts about country risks for the United Kingdom and the United States, this paper proposes an innovative state space model for multivariate count data with jumps. We use the proposed model to assess the impact of public concerns in these countries on market systems. To do so, public concerns inferred from Twitter data are unpacked into country-specific persistent terms, risk social amplification events, and co-movements of the country series. The identified components are then used to investigate the existence and magnitude of country-risk spillovers and social amplification effects on the volatility of financial markets.

Citation extraction

42
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49
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Most heavily cited references

The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.

ReferenceIntensityMentionsSectionsMain text
1Cathy WS Chen, Khemmanant Khamthong, and Sangyeol Lee (2019) Markov switching integer-valued generalized auto-regressive conditional heteroscedastic models for dengue counts0.64422100%
2Yves F. Atchadé and Jeffrey S. Rosenthal (2005) On adaptive Markov chain Monte Carlo algorithms0.5112250%
3Olivier Cappé, Eric Moulines, and Tobias Rydén (2005) Inference in Hidden Markov Models0.5112250%
4Sylvia Frühwirth-Schnatter (2006) Finite mixture and Markov switching models0.5112250%
5Christian Gouriéroux and Joann Jasiak (2006) Autoregressive Gamma processes0.51121100%
6Andréas Heinen and Erick Rengifo (2007) Multivariate autoregressive modeling of time series count data using copulas0.51121100%
7Fangfang Wang and Haonan Wang (2018) Modelling non-stationary multivariate time series of counts via common factors0.51121100%
8Tevfik Aktekin, Nick Polson, Refik Soyer, et al (2018) Sequential Bayesian analysis of multivariate count data0.40511100%
9Francesco D'Amuri and Juri Marcucci (2017) The predictive power of Google searches in forecasting US unemployment0.40511100%
10Richard A Davis, Scott H Holan, Robert Lund, and Nalini Ravishanker (2016) Handbook of discrete-valued time series0.40511100%

Showing the top 10 of 42 scored citations.