A look into the '08 Crisis with Google Correlation

Discovering Google Correlate was a small silver nugget for me, the reason I say silver is because there are several drawbacks to it. I was going over some research papers seeing how I can improve my simple model for unemployment claims, non-farm payroll, etc. One paper that tapped my interest is written by Hal R. Varian, head honcho economist at Google, that proposed improving the fit of a forecast using Google Trends data.  He'd show his theory through forecasting motor parts sales, unemployment, consumer sentiment, etc.  The models had an overall better fit and out-of-sample test when incorporating Google Trend searches. […]

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