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

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

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

Počet stran výsledku

10

Strana od-do

1-10

Název nakladatele

Slezská univerzita v Opavě, Obchodně podnikatelská fakulta v Karviné

Místo vydání

Opava

Místo konání akce

Petrovice u Karviné

Datum konání akce

14. 9. 2016

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000403638200001