Working Paper: NBER ID: w12707
Authors: Matthew Gentzkow; Jesse M. Shapiro
Abstract: We construct a new index of media slant that measures whether a news outlet.s language is more similar to that of a congressional Republican or Democrat. We apply the measure to study the market forces that determine political con- tent in the news. We estimate a model of newspaper demand that incorporates slant explicitly, estimate the slant that would be chosen if newspapers independently maximized their own profits, and compare these ideal points with .rms. actual choices. Our analysis confirms an economically significant demand for news slanted toward one's own political ideology. Firms respond strongly to consumer preferences, which account for roughly 20 percent of the variation in measured slant in our sample. By contrast, the identity of a newspaper's owner explains far less of the variation in slant. We also present evidence on the role of pressure from incumbent politicians, tastes of reporters, and newspaper competition in determining slant.
Keywords: media slant; newspapers; political content; consumer preferences
JEL Codes: D78; K23; L82
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Consumer preferences (D11) | Newspaper slant (A14) |
| Newspaper slant (A14) | Circulation (E10) |
| Consumer ideology (F61) | Newspaper slant (A14) |
| Ownership (H13) | Newspaper slant (A14) |
| Newspaper slant (A14) | Consumer beliefs (D18) |