Google Econometrics and Unemployment Forecasting

20 Pages Posted: 30 Sep 2009

See all articles by Nikos Askitas

Nikos Askitas

IZA Institute of Labor Economics

Klaus F. Zimmermann

Global Labor Organization (GLO); UNU-MERIT; Maastricht University, Department of Economics; Free University Berlin; University of Bonn; Centre for Economic Policy Research (CEPR); Journal of Population Economics

Multiple version iconThere are 3 versions of this paper

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

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

Nikos Askitas (Contact Author)

IZA Institute of Labor Economics ( email )

P.O. Box 7240
Bonn, D-53072
Germany
+49 228 3894 525 (Phone)
+49 228 3894 510 (Fax)

HOME PAGE: http://www.iza.org/home/askitas

Klaus F. Zimmermann

Global Labor Organization (GLO) ( email )

Bonn
Germany

HOME PAGE: http://https://glabor.org/

UNU-MERIT ( email )

Keizer Karelplein 19
Maastricht, 6211TC
Netherlands

Maastricht University, Department of Economics ( email )

P.O. Box 616
Maastricht, 6200MD
Netherlands

University of Bonn

Postfach 2220
Bonn, D-53012
Germany

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Journal of Population Economics

Tiergartenstr. 17
D-69121 Heidelberg
Germany

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