ECIN Replication Package for "A Qualitative Assessment of Quantitative Easing Sentiment"

This mixed-method study undertakes a comprehensive inquiry of the public discourse on social media surrounding Quantitative Easing (QE) across the US, the UK, and the EU. Utilising a unique dataset of tweets, we reveal the public sentiment polarity towards QE policy to be strongly negative, at 71.27%, with positive sentiment a mere 4.25%. Distilling the negative QE sentiment, we identify prominent themes of ‘anti-government’, ‘anti-central bank’, ‘inequality’, ’ineffectiveness’, ‘inflation’, and ‘asset inflation’, and demonstrate a longitudinal association between perceived inequality and asset price inflation with an anti-establishment stance. We conclude with suggested central bank policy recommendations to restore and foster public trust.

本研究采用混合方法，针对美国、英国与欧盟范围内社交媒体上围绕量化宽松（Quantitative Easing，QE）的公共话语展开全面探究。本研究依托一套独特的推文数据集开展分析，结果显示公众对量化宽松政策的情感极性呈显著负面倾向，负面情绪占比达71.27%，而正面情绪占比仅为4.25%。在提炼针对量化宽松政策的负面情绪核心内涵时，本研究识别出‘反政府’‘反中央银行’‘贫富不均’‘政策无效’‘通货膨胀’以及‘资产通胀’六大突出主题，并揭示出公众感知的贫富不均与资产价格通胀之间，以及其与反建制立场之间的纵向关联。本研究最后提出针对中央银行的政策建议，以期修复并重塑公众信任。