Google Econometrics and Unemployment Forecasting
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Google Econometrics and Unemployment Forecasting
Askitas, Nikolaos | Zimmermann, Klaus F
Applied Economics Quarterly, Vol. 55(2009), Iss. 2 : pp. 107–120 | First published online: October 03, 2017
306 Citations (CrossRef)
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1Nikolaos Askitas, Bonn University, IZA, 53072 Bonn, Germany.
2Klaus F. Zimmermann, Bonn University, IZA, 53072 Bonn, Germany, and DIW Berlin, Germany.
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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.
JEL Classification: C22, C82, E17, E24, E37
