Can Google Econometrics Predict Unemployment? Evidence From Spain

Economics Letters, vol. 170C, págs. 42-45. I.S.S.N.: 0165-1765., 2018

Posted: 18 Jun 2019

Date Written: 2018

Abstract

The aim of the paper is to analyze the ability of internet activity, what has been called Google econometrics, to predict unemployment in Spain. We include a new predictor for Spanish unemployment based on internet information provided by Google Trends. Using monthly data from January 2004 to November 2017 we found evidence of a high correlation between internet queries and unemployment. Besides that, the inclusion of internet activity enhances model’s prediction performance.

Keywords: Google econometrics, Unemployment, Spain, Forecasting

JEL Classification: E24, E27, J64, G17, C53

Suggested Citation

González-Fernández, Marcos and González-Velasco, Carmen, Can Google Econometrics Predict Unemployment? Evidence From Spain (2018). Economics Letters, vol. 170C, págs. 42-45. I.S.S.N.: 0165-1765., 2018, Available at SSRN: https://ssrn.com/abstract=3400320

Marcos González-Fernández

Universidad de León ( email )

Leon, 24071
Spain

Carmen González-Velasco (Contact Author)

Universidad de León ( email )

Leon, 24071
Spain

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