Strength of words: Donald Trump's tweets, sanctions and Russia's ruble

Simple item page
dc.contributorAalto-yliopistofi
dc.contributorAalto Universityen
dc.contributor.authorAfanasyev, Dmitriy O.en_US
dc.contributor.authorFedorova, Elenaen_US
dc.contributor.authorLedyaeva, Svetlanaen_US
dc.contributor.departmentDepartment of Economicsen
dc.contributor.organizationJSC Greenatomen_US
dc.contributor.organizationFinancial University Under the Government of Russian Federationen_US
dc.date.accessioned2021-03-22T07:07:20Z
dc.date.available2021-03-22T07:07:20Z
dc.date.issued2021-04en_US
dc.description.abstractWe empirically test if the US President Donald Trump's rhetoric towards Russia (represented by his Russia-related tweets) affects ruble's exchange rate. Using three-stepped empirical framework, we find that escalation of negative sentiment of Trump's Russia-related tweets leads to ruble's depreciation (4–10%) in short-term periods (around 3 days). Though these episodes tend to coincide with imposition or announcement of US sanctions, we demonstrate that US sanctions that were not accompanied by negative tweets of Donald Trump, have not caused ruble's depreciation. This highlights the role of emotional factors in economic decision-making behavior.en
dc.description.versionPeer revieweden
dc.format.extent25
dc.format.mimetypeapplication/pdfen_US
dc.identifier.citationAfanasyev, D O, Fedorova, E & Ledyaeva, S 2021, 'Strength of words : Donald Trump's tweets, sanctions and Russia's ruble', Journal of Economic Behavior and Organization, vol. 184, pp. 253-277. https://doi.org/10.1016/j.jebo.2021.02.002en
dc.identifier.doi10.1016/j.jebo.2021.02.002en_US
dc.identifier.issn0167-2681
dc.identifier.issn1879-1751
dc.identifier.otherPURE UUID: 501f69f4-232e-4777-bbb1-bad1901b1fb2en_US
dc.identifier.otherPURE ITEMURL: https://research.aalto.fi/en/publications/501f69f4-232e-4777-bbb1-bad1901b1fb2en_US
dc.identifier.otherPURE LINK: http://www.scopus.com/inward/record.url?scp=85100960548&partnerID=8YFLogxK
dc.identifier.otherPURE FILEURL: https://research.aalto.fi/files/56853788/1_s2.0_S0167268121000573_main.pdfen_US
dc.identifier.urihttps://aaltodoc.aalto.fi/handle/123456789/103194
dc.identifier.urnURN:NBN:fi:aalto-202103222472
dc.language.isoenen
dc.publisherElsevier
dc.relation.ispartofseriesJournal of Economic Behavior and Organizationen
dc.relation.ispartofseriesVolume 184, pp. 253-277en
dc.rightsopenAccessen
dc.subject.keywordARMAX-GARCHen_US
dc.subject.keywordDonald Trumpen_US
dc.subject.keywordelastic neten_US
dc.subject.keywordExchange rateen_US
dc.subject.keywordMarkov regime-switching modelen_US
dc.subject.keywordRussian rubleen_US
dc.subject.keywordsentiment analysisen_US
dc.subject.keywordsocial mediaen_US
dc.subject.keywordTwitteren_US
dc.titleStrength of words: Donald Trump's tweets, sanctions and Russia's rubleen
dc.typeA1 Alkuperäisartikkeli tieteellisessä aikakauslehdessäfi
dc.type.versionpublishedVersion

Files

Collections

[article-cris] Kauppakorkeakoulu / BIZ