Google data offers real-time indicator of business closures, says BoC research
Data from Google Places might be able to give policy-makers a means of tracking business closures during a fast-moving economic shock, research published by the Bank of Canada finds.
In the working paper, a team of economists uses data from Google Places, the database underlying Google Maps, to compute “reliable rates business exit, temporary closures, entry and reopening” in a timely manner. The database allows the researchers to track nearly 13,000 consumer-facing businesses from May to
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