Can Google Trends Data Help Us Modelling Inflation? An Empirical Evidence from the Czech Republic

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F16%3A86098094" target="_blank" >RIV/61989100:27510/16:86098094 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Can Google Trends Data Help Us Modelling Inflation? An Empirical Evidence from the Czech Republic
Original language description
A lot of various determinants can be used to modelling inflation. The aim of this paper is to find which factors influence the inflation rate in the Czech Republic and to assess whereas Google Trend (GT) data can improve the estimates of inflation rate. This paper presents a several models of inflation rate in the Czech Republic based on some traditional theories such as Purchasing Power Parity (PPP) theory or Balassa-Samuelson (BS) effect. Also, some of these models are adapted to the conditions while some of the traditional presumptions of these theories are not valid. Inflation rate, therefore, can be explained using data for productivity, Exchange rate, interest rates, wages or prices of some commodities. Moreover, each model form includes data from GT. Since internet plays an important role in our lives nowadays, it is possible, that searching queries can reflect behaviour of economic subjects. Quarterly data (2004 - 2014) are used in regression analysis. It was found that GT data improve most of model specifications.
Czech name
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Czech description
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Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of 14th International Scientific Conference Economic Policy in the European Union Member Countries: September 14-16, 2016, Petrovice u Karviné, Czech Republic. Part 1
ISBN
978-80-7510-210-2
ISSN
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e-ISSN
neuvedeno
Number of pages
10
Pages from-to
1-10
Publisher name
Slezská univerzita v Opavě, Obchodně podnikatelská fakulta v Karviné
Place of publication
Opava
Event location
Petrovice u Karviné
Event date
Sep 14, 2016
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000403638200001

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