Nowcasting Unemployment Rates with Google Searches: Evidence from the Visegrad Group Countries

The online activity of Internet users has repeatedly been shown to provide a rich information set for various research fields. We focus on job-related searches on Google and their possible usefulness in the region of the Visegrad Group - the Czech Republic, Hungary, Poland and Slovakia. Even for rat...

Descripción completa

Detalles Bibliográficos
Autores principales: Pavlicek, Jaroslav, Kristoufek, Ladislav
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2015
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4441379/
https://www.ncbi.nlm.nih.gov/pubmed/26001083
http://dx.doi.org/10.1371/journal.pone.0127084
_version_ 1782372782416330752
author Pavlicek, Jaroslav
Kristoufek, Ladislav
author_facet Pavlicek, Jaroslav
Kristoufek, Ladislav
author_sort Pavlicek, Jaroslav
collection PubMed
description The online activity of Internet users has repeatedly been shown to provide a rich information set for various research fields. We focus on job-related searches on Google and their possible usefulness in the region of the Visegrad Group - the Czech Republic, Hungary, Poland and Slovakia. Even for rather small economies, the online searches of inhabitants can be successfully utilized for macroeconomic predictions. Specifically, we study unemployment rates and their interconnection with job-related searches. We show that Google searches enhance nowcasting models of unemployment rates for the Czech Republic and Hungary whereas for Poland and Slovakia, the results are mixed.
format Online
Article
Text
id pubmed-4441379
institution National Center for Biotechnology Information
language English
publishDate 2015
publisher Public Library of Science
record_format MEDLINE/PubMed
spelling pubmed-44413792015-05-28 Nowcasting Unemployment Rates with Google Searches: Evidence from the Visegrad Group Countries Pavlicek, Jaroslav Kristoufek, Ladislav PLoS One Research Article The online activity of Internet users has repeatedly been shown to provide a rich information set for various research fields. We focus on job-related searches on Google and their possible usefulness in the region of the Visegrad Group - the Czech Republic, Hungary, Poland and Slovakia. Even for rather small economies, the online searches of inhabitants can be successfully utilized for macroeconomic predictions. Specifically, we study unemployment rates and their interconnection with job-related searches. We show that Google searches enhance nowcasting models of unemployment rates for the Czech Republic and Hungary whereas for Poland and Slovakia, the results are mixed. Public Library of Science 2015-05-22 /pmc/articles/PMC4441379/ /pubmed/26001083 http://dx.doi.org/10.1371/journal.pone.0127084 Text en © 2015 Pavlicek, Kristoufek http://creativecommons.org/licenses/by/4.0/ This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are properly credited.
spellingShingle Research Article
Pavlicek, Jaroslav
Kristoufek, Ladislav
Nowcasting Unemployment Rates with Google Searches: Evidence from the Visegrad Group Countries
title Nowcasting Unemployment Rates with Google Searches: Evidence from the Visegrad Group Countries
title_full Nowcasting Unemployment Rates with Google Searches: Evidence from the Visegrad Group Countries
title_fullStr Nowcasting Unemployment Rates with Google Searches: Evidence from the Visegrad Group Countries
title_full_unstemmed Nowcasting Unemployment Rates with Google Searches: Evidence from the Visegrad Group Countries
title_short Nowcasting Unemployment Rates with Google Searches: Evidence from the Visegrad Group Countries
title_sort nowcasting unemployment rates with google searches: evidence from the visegrad group countries
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4441379/
https://www.ncbi.nlm.nih.gov/pubmed/26001083
http://dx.doi.org/10.1371/journal.pone.0127084
work_keys_str_mv AT pavlicekjaroslav nowcastingunemploymentrateswithgooglesearchesevidencefromthevisegradgroupcountries
AT kristoufekladislav nowcastingunemploymentrateswithgooglesearchesevidencefromthevisegradgroupcountries

Ejemplares similares