Predicting the Present with Google Trends

• Activity Number: 364
• Type: Roundtables
• Date/Time: Tuesday, August 3, 2010 : 12:30 PM to 1:50 PM
• Sponsor: Business and Economic Statistics Section
• Author(s): Hal R. Varian*+
• Companies: Google

Abstract

It is now possible to acquire real time information on economic variables using various commercial sources. I illustrate how one can use Google Trends data to measure the state of the economy in various sectors, and discuss some of the ramifications for research and policy. Hal R. Varian is the Chief Economist at Google. He started in May 2002 as a consultant and has been involved in many aspects of the company, including auction design, econometric, finance, corporate strategy and public policy. He also holds academic appointments at the University of California, Berkeley in three departments: business, economics, and information management. He received his S.B. degree from MIT in 1969 and his MA and Ph.D. from UC Berkeley in 1973. Professor Varian has published numerous papers in economic theory, econometrics, industrial organization, public finance, and the economics of information technology.