|
EconStor >
Rheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI), Essen >
Ruhr Economic Papers, RWI >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/29900
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Schmidt, Torsten | | en_US |
| dc.contributor.author | | Vosen, Simeon | | en_US |
| dc.date.accessioned | | 2009-12-02 | | en_US |
| dc.date.accessioned | | 2010-02-12T15:03:05Z | | - |
| dc.date.available | | 2010-02-12T15:03:05Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.isbn | | 978-3-86788-175-3 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/29900 | | - |
| dc.description.abstract | | In 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.iso | | eng | | en_US |
| dc.publisher | | RWI Essen | | en_US |
| dc.relation.ispartofseries | | Ruhr economic papers 155 | | en_US |
| dc.subject.jel | | C53 | | en_US |
| dc.subject.jel | | E21 : E27 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Google Trends | | en_US |
| dc.subject.keyword | | private consumption | | en_US |
| dc.subject.keyword | | forecasting | | en_US |
| dc.subject.keyword | | Consumer Sentiment Indicator | | en_US |
| dc.subject.stw | | Gesamtwirtschaftlicher Konsum | | en_US |
| dc.subject.stw | | Prognoseverfahren | | en_US |
| dc.subject.stw | | Konsumklima | | en_US |
| dc.subject.stw | | Internet-Portal | | en_US |
| dc.subject.stw | | Suchmaschine | | en_US |
| dc.subject.stw | | Vergleich | | en_US |
| dc.subject.stw | | USA | | en_US |
| dc.title | | Forecasting private consumption: survey-based indicators vs. Google trends | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 614061253 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des RWI Ruhr Economic Papers, RWI
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|