Forecasting Unemployment Using Internet Search Data via PRISM
利用互联网搜索数据与 PRISM 预测失业保险初次申请人数
Big data generated from the Internet offer great potential for predictive analysis. Here we focus on using online users’ Internet search data to forecast unemployment initial claims weeks into the future, which provides timely insights into the direction of the economy. To this end, we present a novel method Penalized Regression with Inferred Seasonality Module (PRISM), which uses publicly available online search data from Google. PRISM is a semiparametric method, motivated…