Google Econometrics and Unemployment Forecasting
Institute for the Study of Labor (IZA)
Klaus F. Zimmermann
Harvard University; German Institute for Economic Research (DIW Berlin); University of Bonn; Centre for Economic Policy Research (CEPR)
May 1, 2009
DIW Berlin Discussion Paper No. 899
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.
Number of Pages in PDF File: 26
Keywords: Google, internet, keyword search, search engine, unemployment, predictions, time series analysis
JEL Classification: C22, C82, E17, E24, E37
Date posted: September 2, 2009
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