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Duprey, Thibaut [Author]; Rigobon, Daniel E. [Author]; Schnattinger, Philip [Author]; Kotlicki, Artur [Author]; Baharian, Soheil [Author]; Hurd, T. R. [Author]

Business closures and (re)openings in real time using Google Places

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  • Media type: E-Book; Report
  • Title: Business closures and (re)openings in real time using Google Places
  • Contributor: Duprey, Thibaut [Author]; Rigobon, Daniel E. [Author]; Schnattinger, Philip [Author]; Kotlicki, Artur [Author]; Baharian, Soheil [Author]; Hurd, T. R. [Author]
  • imprint: Ottawa: Bank of Canada, 2022
  • Language: English
  • DOI: https://doi.org/10.34989/swp-2022-1
  • Keywords: Firm dynamics ; C55 ; E32 ; recent economic and financial developments ; C81 ; D22
  • Origination:
  • Footnote: Diese Datenquelle enthält auch Bestandsnachweise, die nicht zu einem Volltext führen.
  • Description: We present a new method to measure business opening and closure rates using real-time information from Google Places, the dataset behind the Google Maps service. Our Canadian application confirms the importance of temporary closures and reopenings during the COVID-19 pandemic. Over 50% of the temporarily closed food and retail businesses during the April 2021 lockdown reopened by the end of September. Our estimates align well with the timing of COVID-19 restrictions and are validated by a survey of recently opened businesses. Our framework provides policy-makers with a tool for the timely monitoring of business dynamics.
  • Access State: Open Access