The Impact of External Events on the Emergence of Collective States of Economic Sentiment

@inproceedings{Hohnisch2006TheIO,
  title={The Impact of External Events on the Emergence of Collective States of Economic Sentiment},
  author={Martin Hohnisch and Dietrich Stauffer and Sabine Pittnauer},
  year={2006}
}
We investigate the impact of the environment (i.e. the impact of socio-political and socioeconomic exogenous events) on the emergence of ordered phases of locally interacting individual economic sentiment variables (consumer confidence, business confidence etc.). The sentiment field is modeled as a (non-critical) Ising field with nearest-neighbor interactions on a (two-dimensional) square lattice. The environment is mod-eled as an external " field of events " , randomly fluctuating over time… CONTINUE READING

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