Nowcasting With Google Trends In An Emerging Market

Most economic variables are released with a lag, making it difficult for policy-makers to make an accurate assessment of current conditions. This paper explores whether observing Internet browsing habits can inform practitioners about real-time aggregate consumer behavior in an emerging market. Using data on Google search queries, the authors introduce a simple index of interest in automobile purchases in Chile and test whether it improves the fit and efficiency of nowcasting models for automobile sales.

Provided by: Central Bank of Chile Topic: Big Data Date Added: Jul 2010 Format: PDF

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