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, Nikolaos ; Zimmermann, Klaus F.
Publisher:	Bonn : Institute for the Study of Labor (IZA)
Subject:	Internet-Portal \| Datenqualität \| Suchmaschine \| Arbeitslosigkeit \| Prognoseverfahren \| Arbeitsmarktprognose \| Vergleich \| Zeitreihenanalyse \| Schätzung \| Deutschland \| Google \| internet \| keyword search \| search engine \| unemployment \| predictions \| time-series analysis

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Series:	IZA Discussion Papers ; 4201
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	605353115 [GVK] hdl:10419/35733 [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:	EconStor

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