Google Econometrics and Unemployment Forecasting

The current economic crisis requires fast information to predict economic behavior early, which is difficult at times of structural changes. This paper suggests an innovative new method of using data on internet activity for that purpose. It demonstrates strong correlations between keyword searches and unemployment rates using monthly German data and exhibits a strong potential for the method used.

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Year of publication:	2009
Authors:	Askitas, Nikos ; Zimmermann, Klaus F.
Institutions:	Rat für Sozial- und Wirtschaftsdaten (RatSWD), Government of Germany
Subject:	Google \| internet \| keyword search \| search engine \| unemployment \| predictions \| time-series analysis

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Extent:	application/pdf
Series:	Research Notes of the German Council for Social and Economic Data.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 41 2 pages long
Classification:	C22 - Time-Series Models ; C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; E17 - Forecasting and Simulation ; E24 - Employment; Unemployment; Wages ; E37 - Forecasting and Simulation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008631500