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.
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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number
4201.
Length: 2009 pages Date of creation: Jun 2009 Date of revision: Publication status: published in: Applied Economics Quarterly, 2009, 55 (2), 107-120. Courtesy of Duncker&Humblot Berlin, the DP contains a download link to the published version Handle: RePEc:iza:izadps:dp4201
Find related papers by JEL classification: C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation
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