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Topic classification of economic newspaper articles in a highly inflectional language – the case of Serbia

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  • Mirko Djukic

    (National Bank of Serbia)

Abstract

The frequency of certain topics in newspaper articles can be a good indicator of some economic developments. The application of topic modelling in the Serbian language, using the LDA model, is hampered by the fact that Serbian is a highly inflectional language, where words have a large number of forms which the model recognises as words with a different meaning. In this paper, we tried to turn that aggravating circumstance into an advantage by reducing only the economic words to their base form. Thus, we attributed to them a greater relevance than to non-economic words, which remained in a large number of forms with a lower frequency of occurrence. As the topics classified in this manner were mostly based on economic expressions, it was expected that they would have a greater applicability in further economic analyses.

Suggested Citation

  • Mirko Djukic, 2024. "Topic classification of economic newspaper articles in a highly inflectional language – the case of Serbia," Working Papers Bulletin 21, National Bank of Serbia.
    • Handle: RePEc:nsb:bilten:21
    as

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    References listed on IDEAS

    as
    1. Larsen, Vegard H. & Thorsrud, Leif Anders & Zhulanova, Julia, 2021. "News-driven inflation expectations and information rigidities," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 507-520.
    2. Angelico, Cristina & Marcucci, Juri & Miccoli, Marcello & Quarta, Filippo, 2022. "Can we measure inflation expectations using Twitter?," Journal of Econometrics, Elsevier, vol. 228(2), pages 259-277.
    3. Scott Deerwester & Susan T. Dumais & George W. Furnas & Thomas K. Landauer & Richard Harshman, 1990. "Indexing by latent semantic analysis," Journal of the American Society for Information Science, Association for Information Science & Technology, vol. 41(6), pages 391-407, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    textual analysis; topic modelling; Latent Dirichlet Allocation; LASSO model;
    All these keywords.

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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