IDEAS home Printed from https://ideas.repec.org/a/beh/jbepv1/v6y2022i1p27-32.html
   My bibliography  Save this article

The nexus between unemployment and Covid-19 vaccine in the U.S. Evidence from Google trends

Author

Listed:
  • Georgios Garafas

    (Department of Accounting and Finance, University of Ioannina, Greece)

Abstract

The current study explores how the anticipation of the Covid-19 vaccines has interacted with uncertainty and unemployment in the U.S during the period 3/7/2020 - 11/21/2020. It is estimated that Google Trends data for the topic of unemployment benefits can be a consistent proxy for insurance claims, while divergences in their movement can be attributed to fear and uncertainty. These divergences appear to be mitigated by the development of Covid-19 vaccines through the reduction of uncertainty. Thus, the relation between searches for unemployment and the Covid-19 vaccines has been proven that it is strong. Furthermore, when uncertainty is reduced, Google Trends and conventional data can be determined simultaneously.

Suggested Citation

  • Georgios Garafas, 2022. "The nexus between unemployment and Covid-19 vaccine in the U.S. Evidence from Google trends," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 6(1), pages 27-32, December.
    • Handle: RePEc:beh:jbepv1:v:6:y:2022:i:1:p:27-32
    as

    Download full text from publisher

    File URL: http://sabeconomics.org/journal/RePEc/beh/JBEPv1/articles/JBEP-6-1-3.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "Labor Markets During the Covid-19 Crisis: A Preliminary View," Department of Economics, Working Paper Series qt7rx7t91p, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    2. Castelnuovo, Efrem & Tran, Trung Duc, 2017. "Google It Up! A Google Trends-based Uncertainty index for the United States and Australia," Economics Letters, Elsevier, vol. 161(C), pages 149-153.
    3. Artur Strzelecki, 2020. "The Second Worldwide Wave of Interest in Coronavirus since the COVID-19 Outbreaks in South Korea, Italy and Iran: A Google Trends Study," Papers 2003.10998, arXiv.org, revised Jul 2020.
    4. Garafas, Georgios & Dimitriou, Dimitrios, 2020. "The Ides Of March. Did Italian Covid-19 Crisis Fuel Us Economic Policy Uncertainty?," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 73(4), pages 511-524.
    5. Jeremy Ginsberg & Matthew H. Mohebbi & Rajan S. Patel & Lynnette Brammer & Mark S. Smolinski & Larry Brilliant, 2009. "Detecting influenza epidemics using search engine query data," Nature, Nature, vol. 457(7232), pages 1012-1014, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ariel Kalil & Susan Mayer & Rohen Shah, 2023. "Scarcity and Inattention," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 7(1), pages 35-42, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yuqian Zhang, 2023. "Using Google Trends to track the global interest in International Financial Reporting Standards: Evidence from big data," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 30(2), pages 87-100, April.
    2. Hakan Yilmazkuday, 2020. "Unequal unemployment effects of COVID-19 and monetary policy across U.S. States," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 4(S3), pages 45-53, December.
    3. Gutiérrez, Antonio, 2022. "Movilidad urbana y datos de alta frecuencia [Urban mobility and high frequency data]," MPRA Paper 114854, University Library of Munich, Germany.
    4. van der Wielen, Wouter & Barrios, Salvador, 2021. "Economic sentiment during the COVID pandemic: Evidence from search behaviour in the EU," Journal of Economics and Business, Elsevier, vol. 115(C).
    5. Gopi Shah Goda & Emilie Jackson & Lauren Hersch Nicholas & Sarah See Stith, 2023. "The impact of Covid-19 on older workers’ employment and Social Security spillovers," Journal of Population Economics, Springer;European Society for Population Economics, vol. 36(2), pages 813-846, April.
    6. Nikolay Hristov & Markus Roth, 2019. "Uncertainty Shocks and Financial Crisis Indicators," CESifo Working Paper Series 7839, CESifo.
    7. Saiz, Albert & Salazar-Miranda, Arianna, 2023. "Understanding Urban Economies, Land Use, and Social Dynamics in the City: Big Data and Measurement," IZA Discussion Papers 16501, Institute of Labor Economics (IZA).
    8. Couch, Kenneth A. & Fairlie, Robert W. & Xu, Huanan, 2020. "Early evidence of the impacts of COVID-19 on minority unemployment," Journal of Public Economics, Elsevier, vol. 192(C).
    9. Zhongchen Song & Tom Coupé, 2023. "Predicting Chinese consumption series with Baidu," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 21(3), pages 429-463, July.
    10. Hangzhou Yang & Huiying Gao, 2018. "Toward Sustainable Virtualized Healthcare: Extracting Medical Entities from Chinese Online Health Consultations Using Deep Neural Networks," Sustainability, MDPI, vol. 10(9), pages 1-18, September.
    11. David H Chae & Sean Clouston & Mark L Hatzenbuehler & Michael R Kramer & Hannah L F Cooper & Sacoby M Wilson & Seth I Stephens-Davidowitz & Robert S Gold & Bruce G Link, 2015. "Association between an Internet-Based Measure of Area Racism and Black Mortality," PLOS ONE, Public Library of Science, vol. 10(4), pages 1-12, April.
    12. Vanda Almeida & Salvador Barrios & Michael Christl & Silvia Poli & Alberto Tumino & Wouter Wielen, 2021. "The impact of COVID-19 on households´ income in the EU," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 19(3), pages 413-431, September.
    13. Miescu, Mirela & Rossi, Raffaele, 2021. "COVID-19-induced shocks and uncertainty," European Economic Review, Elsevier, vol. 139(C).
    14. Irresberger, Felix & Mühlnickel, Janina & Weiß, Gregor N.F., 2015. "Explaining bank stock performance with crisis sentiment," Journal of Banking & Finance, Elsevier, vol. 59(C), pages 311-329.
    15. Don Mar & Paul Ong & Tom Larson & James Peoples, 2022. "Racial and ethnic disparities in who receives unemployment benefits during COVID-19," SN Business & Economics, Springer, vol. 2(8), pages 1-17, August.
    16. Xiaoli Wang & Shuangsheng Wu & C Raina MacIntyre & Hongbin Zhang & Weixian Shi & Xiaomin Peng & Wei Duan & Peng Yang & Yi Zhang & Quanyi Wang, 2015. "Using an Adjusted Serfling Regression Model to Improve the Early Warning at the Arrival of Peak Timing of Influenza in Beijing," PLOS ONE, Public Library of Science, vol. 10(3), pages 1-14, March.
    17. Abakah, Emmanuel Joel Aikins & Caporale, Guglielmo Maria & Gil-Alana, Luis Alberiko, 2021. "Economic policy uncertainty: Persistence and cross-country linkages," Research in International Business and Finance, Elsevier, vol. 58(C).
    18. Heyden, Kim J. & Heyden, Thomas, 2021. "Market reactions to the arrival and containment of COVID-19: An event study," Finance Research Letters, Elsevier, vol. 38(C).
    19. John (Jianqiu) Bai & Erik Brynjolfsson & Wang Jin & Sebastian Steffen & Chi Wan, 2021. "Digital Resilience: How Work-From-Home Feasibility Affects Firm Performance," NBER Working Papers 28588, National Bureau of Economic Research, Inc.
    20. Ishani Chaudhuri & Parthajit Kayal, 2022. "Predicting Power of Ticker Search Volume in Indian Stock Market," Working Papers 2022-214, Madras School of Economics,Chennai,India.

    More about this item

    Keywords

    COVID-19; unemployment; uncertainty; vaccine development; Google trends; wavelets;
    All these keywords.

    JEL classification:

    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • F66 - International Economics - - Economic Impacts of Globalization - - - Labor
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:beh:jbepv1:v:6:y:2022:i:1:p:27-32. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SABE (email available below). General contact details of provider: https://edirc.repec.org/data/sabeeea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.