Google Econometrics and Unemployment Forecasting

Nikos Askitas () and Klaus F. Zimmermann ()

No 899, Discussion Papers of DIW Berlin from DIW Berlin, German Institute for Economic Research

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; timeseries analysis (search for similar items in EconPapers)
JEL-codes: C22 C82 E17 E24 E37 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-for and nep-ict
Date: 2009
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Published in: Applied Economics Quarterly 55 (2009), 2, 107-120 ; Free download at: http://www.atypon-link.com/DH/doi/abs/10.3790/aeq.55.2.107

Downloads: (external link)
http://www.diw.de/documents/publikationen/73/diw_01.c.99158.de/dp899.pdf (application/pdf)

Related works:
Working Paper: Google Econometrics and Unemployment Forecasting (2009)
Working Paper: Google Econometrics and Unemployment Forecasting (2009)
Journal Article: Google Econometrics and Unemployment Forecasting (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:diw:diwwpp:dp899

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