Title: Public attention and financial markets: An analysis using google trends
Authors: Marc Gronwald - University of Aberdeen (United Kingdom)
Xin Jin - University of Aberdeen (United Kingdom)
Shehroz Azmat - University of Aberdeen (United Kingdom) [presenting]
Abstract: The relationship between public attention and financial markets such as the markets for crude oil and the cryptocurrency Bitcoin is considered. Different google search terms are used in order to capture different aspects of public attention: while a term such as oil price captures general interest in this market, oil supply reflects interest in market fundamentals, and oil price bubble specific interest during extreme price episodes. Using Granger causality tests, it is found that these different measures of public attention are driven by market price movements in different ways; while e.g. the crude oil price Granger causes the search term oil market, no such relationship is found between oil prices and the search term oil bubble.