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Text as Data - Stanford University

Journal of Economic Literature 2019, 57(3), 535 574 IntroductionNew technologies have made available vast quantities of digital text, recording an ever-increasing share of human interac-tion, communication, and culture. For social scientists, the information encoded in text is a rich complement to the more structured kinds of data traditionally used in research, and recent years have seen an explosion of empirical economics research using text as take just a few examples: In finance, text from financial news, social media, and company filings is used to predict asset price movements and study the causal impact of new information.

text data as a manageable (though still high-dimensional) numerical array C; in sec-tion 3 we discuss methods from data mining and machine learning for predicting V from C. Section 4 then provides a selective survey of text analysis applications in social science, and section 5 concludes. 2. Representing Text as Data

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