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The nexus between unemployment and Covid-19 vaccine in the U.S. Evidence from Google trends

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  • Georgios Garafas

    (Department of Accounting and Finance, University of Ioannina, Greece)

Abstract

The current study explores how the anticipation of the Covid-19 vaccines has interacted with uncertainty and unemployment in the U.S during the period 3/7/2020 - 11/21/2020. It is estimated that Google Trends data for the topic of unemployment benefits can be a consistent proxy for insurance claims, while divergences in their movement can be attributed to fear and uncertainty. These divergences appear to be mitigated by the development of Covid-19 vaccines through the reduction of uncertainty. Thus, the relation between searches for unemployment and the Covid-19 vaccines has been proven that it is strong. Furthermore, when uncertainty is reduced, Google Trends and conventional data can be determined simultaneously.

Suggested Citation

  • Georgios Garafas, 2022. "The nexus between unemployment and Covid-19 vaccine in the U.S. Evidence from Google trends," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 6(1), pages 27-32, December.
    • Handle: RePEc:beh:jbepv1:v:6:y:2022:i:1:p:27-32
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    References listed on IDEAS

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    2. Castelnuovo, Efrem & Tran, Trung Duc, 2017. "Google It Up! A Google Trends-based Uncertainty index for the United States and Australia," Economics Letters, Elsevier, vol. 161(C), pages 149-153.
    3. Artur Strzelecki, 2020. "The Second Worldwide Wave of Interest in Coronavirus since the COVID-19 Outbreaks in South Korea, Italy and Iran: A Google Trends Study," Papers 2003.10998, arXiv.org, revised Jul 2020.
    4. Garafas, Georgios & Dimitriou, Dimitrios, 2020. "The Ides Of March. Did Italian Covid-19 Crisis Fuel Us Economic Policy Uncertainty?," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 73(4), pages 511-524.
    5. Jeremy Ginsberg & Matthew H. Mohebbi & Rajan S. Patel & Lynnette Brammer & Mark S. Smolinski & Larry Brilliant, 2009. "Detecting influenza epidemics using search engine query data," Nature, Nature, vol. 457(7232), pages 1012-1014, February.
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    Cited by:

    1. Ariel Kalil & Susan Mayer & Rohen Shah, 2023. "Scarcity and Inattention," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 7(1), pages 35-42, November.

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    More about this item

    Keywords

    COVID-19; unemployment; uncertainty; vaccine development; Google trends; wavelets;
    All these keywords.

    JEL classification:

    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • F66 - International Economics - - Economic Impacts of Globalization - - - Labor
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior

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