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Nowcasting unemployment rates with Google searches: evidence from the Visegrad Group countries
J. Pavlicek, L. Kristoufek,
Language English Country United States
Document type Journal Article, Research Support, Non-U.S. Gov't
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- MeSH
- Internet * MeSH
- Humans MeSH
- Unemployment statistics & numerical data MeSH
- Models, Theoretical MeSH
- Check Tag
- Humans MeSH
- Publication type
- Journal Article MeSH
- Research Support, Non-U.S. Gov't MeSH
- Geographicals
- Czech Republic MeSH
- Hungary MeSH
- Poland MeSH
- Slovakia MeSH
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.
Institute of Economic Studies Charles University Opletalova 26 110 00 Prague Czech Republic
Warwick Business School University of Warwick Coventry West Midlands CV4 7AL United Kingdom
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