A monthly consumption indicator for Germany based on Internet search query data
AbstractThis study introduces a monthly coincident indicator for consumption in Germany based on Google Trends data on web search activity. In real-time nowcasting experiments the indicator outperforms common survey-based indicators in predicting consumption. Unlike those indicators, it provides predictive information beyond that already captured in other macroeconomic variables.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 19 (2012)
Issue (Month): 7 (May)
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Other versions of this item:
- Torsten Schmidt & Simeon Vosen, 2010. "A monthly consumption indicator for Germany based on internet search query data," Ruhr Economic Papers 0208, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
- C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
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- Torsten Schmidt & Simeon Vosen, 2012. "Using Internet Data to Account for Special Events in Economic Forecasting," Ruhr Economic Papers 0382, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
- Nuno Barreira & Pedro Godinho & Paulo Melo, 2013. "Nowcasting unemployment rate and new car sales in south-western Europe with Google Trends," Netnomics, Springer, vol. 14(3), pages 129-165, November.
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