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ETLAnow: A Model for Forecasting with Big Data – Forecasting Unemployment with Google Searches in Europe

Author

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  • Tuhkuri, Joonas

Abstract

In this report we document the ETLAnow project. ETLAnow is a model for forecasting with big data. At the moment, it predicts the unemployment rate in the EU-28 countries using Google search data. This document is subject to updates as the ETLAnow project advances.

Suggested Citation

  • Tuhkuri, Joonas, 2016. "ETLAnow: A Model for Forecasting with Big Data – Forecasting Unemployment with Google Searches in Europe," ETLA Reports 54, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:report:54
    as

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    File URL: http://www.etla.fi/wp-content/uploads/ETLA-Raportit-Reports-54.pdf
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Anttonen, Jetro, 2018. "Nowcasting the Unemployment Rate in the EU with Seasonal BVAR and Google Search Data," ETLA Working Papers 62, The Research Institute of the Finnish Economy.
    2. Cristea, R. G., 2020. "Can Alternative Data Improve the Accuracy of Dynamic Factor Model Nowcasts?," Cambridge Working Papers in Economics 20108, Faculty of Economics, University of Cambridge.

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    More about this item

    Keywords

    Big Data; Google; Internet; Nowcasting; Forecasting; Unemployment; Europe;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications

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