FORECASTING THE MACRO ECONOMY: MAKING USE OF GOOGLE SEARCH DATA
Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
This paper examines if Google search data can improve the out-of-sample forecast for inflation rate, interest rate, and growth of industrial production. Results show potential of using Google search data for improving the forecast. However, the forecasting performance depends on model choice. If foreign variables are added to the model, the results are more mixed, and Google search data improves the forecast in only a limited way.
Place, publisher, year, edition, pages
IdentifiersURN: urn:nbn:se:uu:diva-275893OAI: oai:DiVA.org:uu-275893DiVA: diva2:901567
Carlsson, Mikael, Professor
Bengtsson, Mikael, Biträdande Universitetslektor