Google econometrics and unemployment forecasting

Nikolaos Askitas and Klaus F. Zimmermann

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. -- Google ; internet ; keyword search ; search engine ; unemployment ; predictions ; timeseries analysis

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Year of publication:	2009
Authors:	Askitas, Nikolaos ; Zimmermann, Klaus F.
Publisher:	Berlin : DIW
Subject:	Google LLC \| Digitale Plattform \| Digital platform \| Datenqualität \| Data quality \| Suchmaschine \| Search engine \| Arbeitslosigkeit \| Unemployment \| Prognoseverfahren \| Forecasting model \| Arbeitsmarktprognose \| Employment forecast \| Vergleich \| Comparison \| Zeitreihenanalyse \| Time series analysis \| Schätzung \| Estimation \| Deutschland \| Germany \| 2004-2009

Extent:	Online-Ressource (22 S., 276 KB) graph. Darst.
Series:	Discussion papers / Deutsches Institut für Wirtschaftsforschung. - Berlin : [Verlag nicht ermittelbar], ISSN 1619-4535, ZDB-ID 2125067-4. - Vol. 899
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/29809 [Handle]
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:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003844913