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dc.contributor.authorSchmidt, Torstenen_US
dc.contributor.authorVosen, Simeonen_US
dc.date.accessioned2009-12-02en_US
dc.date.accessioned2010-02-12T15:03:05Z-
dc.date.available2010-02-12T15:03:05Z-
dc.date.issued2009en_US
dc.identifier.isbn978-3-86788-175-3en_US
dc.identifier.urihttp://hdl.handle.net/10419/29900-
dc.description.abstractIn this study we introduce a new indicator for private consumption based on search query time series provided by Google Trends. The indicator is based on factors extracted from consumption-related search categories of the Google Trends application Insights for Search. The forecasting performance of the new indicator is assessed relative to the two most common survey-based indicators - the University of Michigan Consumer Sentiment Index and the Conference Board Consumer Confidence Index. The results show that in almost all conducted in-sample and out-of-sample forecasting experiments the Google indicator outperforms the survey-based indicators. This suggests that incorporating information from Google Trends may offer significant benefits to forecasters of private consumption.en_US
dc.language.isoengen_US
dc.publisherRWI Essenen_US
dc.relation.ispartofseriesRuhr economic papers 155en_US
dc.subject.jelC53en_US
dc.subject.jelE21en_US
dc.subject.jelE27-
dc.subject.ddc330en_US
dc.subject.keywordGoogle Trendsen_US
dc.subject.keywordprivate consumptionen_US
dc.subject.keywordforecastingen_US
dc.subject.keywordConsumer Sentiment Indicatoren_US
dc.subject.stwGesamtwirtschaftlicher Konsumen_US
dc.subject.stwPrognoseverfahrenen_US
dc.subject.stwKonsumklimaen_US
dc.subject.stwInternet-Portalen_US
dc.subject.stwSuchmaschineen_US
dc.subject.stwVergleichen_US
dc.subject.stwUSAen_US
dc.titleForecasting private consumption: survey-based indicators vs. Google trendsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn614061253en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Ruhr Economic Papers, RWI
Publikationen von Forscherinnen und Forschern des RWI

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