Google Econometrics and Unemployment Forecasting
20 Pages Posted: 30 Sep 2009
There are 3 versions of this paper
Google Econometrics and Unemployment Forecasting
DIW Berlin Discussion Paper No. 899
Number of pages: 26
Posted: 02 Sep 2009
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Google Econometrics and Unemployment Forecasting
German Council for Social and Economic Data (RatSWD) Research Notes No. 41
Number of pages: 20
Posted: 30 Sep 2009
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Google Econometrics and Unemployment Forecasting
IZA Discussion Paper No. 4201
Number of pages: 25
Posted: 08 Jun 2009
Last Revised: 16 Apr 2023
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247
Date Written: June 1, 2009
Abstract
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.
Keywords: Google, internet, keyword search, search engine, unemployment, predictions, time-series analysis
JEL Classification: C22, C82, E17, E24, E37
Suggested Citation: Suggested Citation
Askitas, Nikos and Zimmermann, Klaus F., Google Econometrics and Unemployment Forecasting (June 1, 2009). German Council for Social and Economic Data (RatSWD) Research Notes No. 41, Available at SSRN: https://ssrn.com/abstract=1480251 or http://dx.doi.org/10.2139/ssrn.1480251
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