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https://hdl.handle.net/10419/29900
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Schmidt, Torsten | en |
dc.contributor.author | Vosen, Simeon | en |
dc.date.accessioned | 2009-12-02 | - |
dc.date.accessioned | 2010-02-12T15:03:05Z | - |
dc.date.available | 2010-02-12T15:03:05Z | - |
dc.date.issued | 2009 | - |
dc.identifier.isbn | 978-3-86788-175-3 | en |
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 |
dc.language.iso | eng | en |
dc.publisher | |aRheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI) |cEssen | en |
dc.relation.ispartofseries | |aRuhr Economic Papers |x155 | en |
dc.subject.jel | C53 | en |
dc.subject.jel | E21 | en |
dc.subject.jel | E27 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Google Trends | en |
dc.subject.keyword | private consumption | en |
dc.subject.keyword | forecasting | en |
dc.subject.keyword | Consumer Sentiment Indicator | en |
dc.subject.stw | Gesamtwirtschaftlicher Konsum | en |
dc.subject.stw | Prognoseverfahren | en |
dc.subject.stw | Konsumklima | en |
dc.subject.stw | Internet-Portal | en |
dc.subject.stw | Suchmaschine | en |
dc.subject.stw | Vergleich | en |
dc.subject.stw | USA | en |
dc.title | Forecasting Private Consumption: Survey-based Indicators vs. Google Trends | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 614061253 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:rwirep:155 | en |
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