Publication detail

Pavlicek, J. & Kristoufek, L.: Nowcasting unemployment rates with Google searches: Evidence from the Visegrad Group countries

Author(s): prof. PhDr. Ladislav Krištoufek Ph.D.,
Jaroslav Pavlíček M.A.,
Type: Others
Year: 2015
Number: 0
Published in: FinMap Working Papers 34 PDF
Publishing place:
Keywords: unemployment, Google Trends, nowcasting
JEL codes:
Suggested Citation:
Grants: DYME – Dynamic Models in Economics
Abstract: 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.




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