Transcription of Text as Data - Stanford University
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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.
cutting-edge high-dimensional techniques can make nothing of 1,000 30-dimensional raw Twitter data. In almost all the cases we discuss, the elements of C are counts of tokens: words, phrases, or other predefined features of text. This step may involve filter-ing out very common or uncommon words; dropping numbers, punctuation, or proper
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