Data and code for: Timely Business Dynamics using Google Places

Principal Investigator(s): View help for Principal Investigator(s) Thibaut Duprey, Bank of Canada; Artur Kotlicki, Bank of England; Daniel E. Rigobon, Princeton University; Philip Schnattinger, Bank of England

Version: View help for Version V1

Name	File Type	Size	Last Modified
data_in			01/17/2023 08:00:PM
data_out			01/17/2023 08:00:PM
README.md	text/x-web-markdown	4.2 KB	01/17/2023 03:00:PM
combine_places_data.ipynb	text/plain	4.1 KB	01/17/2023 03:00:PM
get_places_data.ipynb	text/plain	9.3 KB	01/17/2023 03:00:PM
requirements.txt	text/plain	109 bytes	01/17/2023 03:00:PM
utils.py	text/x-python	14 KB	01/17/2023 03:00:PM

Project Description

Summary: We introduce a new real-time method to measure business opening and closure rates by relying on Google Places, the data behind the Google Maps platform. We collect data on establishments of customer-facing industries (food, retail, accommodation) and provide evidence that the opening and closure rates reflect well the temporary closures and re-opening during the pandemic. We find that the operational or closed status of establishments is correlated with business reviews: fewer reviews are associated with impending business exit and more reviews are associated with expanding businesses posting new job vacancies. This repository provides the code to build the equivalent of Figure 1 of the paper.

Scope of Project

Subject Terms: Business dynamics; Google Places; Real-time

JEL Classification:
      C55 Large Data Sets: Modeling and Analysis
      C81 Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
      D22 Firm Behavior: Empirical Analysis
      E32 Business Fluctuations; Cycles

Geographic Coverage: London (UK): City of Westminster

Data Type(s): program source code

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Published Versions

V1 [2023-05-09]

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