Text Mining for Central Banks

25 Pages Posted: 2 Jul 2015

See all articles by David Bholat

David Bholat

Bank of England

Stephen Hansen

University of Oxford - Department of Economics

Pedro Santos

Bank of England

Cheryl Schonhardt-Bailey

London School of Economics & Political Science (LSE) - Department of Government

Date Written: June 29, 2015

Abstract

Although often applied in other social sciences, text mining has been less frequently used in economics and in policy circles, particularly inside central banks. This Handbook is a brief introduction to the field, discussing how text mining is useful for addressing research topics of interest to central banks, and providing a step-by-step primer on how to mine text, including an overview of unsupervised and supervised techniques.

Keywords: Text mining, natural language processing, central banking, Bank of England

JEL Classification: B40, C88, E50

Suggested Citation

Bholat, David and Hansen, Stephen and Santos, Pedro and Schonhardt-Bailey, Cheryl, Text Mining for Central Banks (June 29, 2015). Available at SSRN: https://ssrn.com/abstract=2624811 or http://dx.doi.org/10.2139/ssrn.2624811

David Bholat (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Stephen Hansen

University of Oxford - Department of Economics ( email )

10 Manor Rd
Oxford, Oxfordshire OX1 3UQ
United Kingdom

Pedro Santos

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Cheryl Schonhardt-Bailey

London School of Economics & Political Science (LSE) - Department of Government ( email )

Government Dept
London School of Economics
London WC2A 2AE
United Kingdom

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