Do Newspapers Matter? Short-Run and Long-Run Evidence from the Closure of the Cincinnati Post
NBER WORKING PAPER SERIES DO NEWSPAPERS MATTER? SHORT-RUN AND LONG-RUN EVIDENCE FROM THE CLOSURE OF THE CINCINNATI POST Sam Schulhofer-Wohl Miguel Garrido Working Paper 14817 http://www.nber.org/papers/w14817 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 A previous version of this paper circulated under the title "Do Newspapers Matter? Evidence from the Closure of The Cincinnati Post." We are grateful to employees of The Cincinnati Post and the E.W. Scripps Co., several of whom requested anonymity, for helpful conversations. They are not responsible in any way for the content of this paper. We also thank Alícia Adserà, Anne Case, Taryn Dinkelman, Ying Fan, Douglas Gollin, Bo Honoré, James Schmitz, Jesse Shapiro, and numerous seminar participants for valuable suggestions, and Joan Gieseke for editorial assistance. Miryam Hegazy, Tony Hu, and Xun Liu provided excellent research assistance. The views expressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Minneapolis, the Federal Reserve System, Edgeworth Economics, or the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2009 by Sam Schulhofer-Wohl and Miguel Garrido. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Do Newspapers Matter? Short-run and Long-run Evidence from the Closure of The Cincinnati Post Sam Schulhofer-Wohl and Miguel Garrido NBER Working Paper No.
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