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Nowcasting of the unemployment rate for the Nordic countries: Use of the Google Trends data
Dalarna University, School of Technology and Business Studies, Economics.
2019 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The aim of the thesis is to examine the potential use of the Google Trends data in the nowcasting of the unemployment rate in Nordic countries – Denmark, Finland, Norway, and Sweden. Google Trends provide a relative frequency of searches during a certain time period which makes it possible to examine the trends that can be then used for estimation of the phenomena – in our case the unemployment rate. The research in this thesis focuses on the comparison of a standard unemployment rate forecast model and one which includes the Google Trends data. Their performance and viability are compared and a recommendation whether the use of the Google Trends data is advisable is made for each of the countries. The conclusion is that use of the Google Trends data is generally beneficial for the forecasts

Place, publisher, year, edition, pages
2019.
Keywords [en]
Google Trends, unemployment rate, nowcasting, Denmark, Finland, Norway, Sweden
National Category
Economics
Identifiers
URN: urn:nbn:se:du-30404OAI: oai:DiVA.org:du-30404DiVA, id: diva2:1330718
Available from: 2019-06-26 Created: 2019-06-26

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • chicago-author-date
  • chicago-note-bibliography
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf