Happiness and Gold Prices

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Sammanfattning

We use the Twitter-based Hedonometer happiness index to study the link between happiness and gold price changes. We find no significant correlation between the two when we look at correlations across the entire distributions. However, turning to an extreme value theory (EVT) modeling of the tails of the non-normally distributed happiness distribution we find that during particularly depressing days the gold price often goes up. In a sense, gold is found to serve as a happiness-related safe haven, i.e. as a hedge against extreme unhappiness.

Originalspråkengelska
Artikelnummer101599
TidskriftFinance Research Letters
Volym35
NummerJuly 2020
DOI
StatusPublished - 2020 maj 26

Ämnesklassifikation (UKÄ)

  • Nationalekonomi

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