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Nowcasting unemployment rates with Google searches : evidence from the Visegrad Group countries

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Pavlicek, Jaroslav and Kristoufek, Ladislav (2015) Nowcasting unemployment rates with Google searches : evidence from the Visegrad Group countries. PLoS One, 10 (5). pp. 1-11. e0127084. doi:10.1371/journal.pone.0127084

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Official URL: http://dx.doi.org/10.1371/journal.pone.0127084

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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.

Item Type: Journal Article
Subjects: H Social Sciences > HD Industries. Land use. Labor
Divisions: Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH): Internet searching -- East Europe, Job hunting -- East Europe, Unemployment -- East Europe
Journal or Publication Title: PLoS One
Publisher: Public Library of Science
ISSN: 1932-6203
Official Date: 22 May 2015
Dates:
DateEvent
22 May 2015Published
1 March 2015Accepted
29 September 2014Submitted
Date of first compliant deposit: 29 December 2015
Volume: 10
Number: 5
Number of Pages: 11
Page Range: pp. 1-11
Article Number: e0127084
DOI: 10.1371/journal.pone.0127084
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Open Access
Funder: Seventh Framework Programme (European Commission) (FP7), Czech Science Foundation (CSF), Research Councils UK (RCUK)
Grant number: FP7-SSH-612955 (FP7), P402/12/G097 (CSF), EP/K039830/1 (RCUK)

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