We build models to estimate well-being in the United States based on changes in the volume of internet searches for different words, obtained from the Google Trends website. The estimated well-being series are weighted combinations of word groups that are endogenously identified to fit the weekly subjective well-being measures collected by Gallup Analytics for the United States or the biannual measures for the 50 states. Our approach combines theoretical underpinnings and statistical analysis, and the model we construct successfully estimates the out-of-sample evolution of most subjective well-being measures at a one-year horizon. Our analysis suggests that internet search data can be a complement to traditional survey data to measure and analyze the well-being of a population at high frequency and local geographic levels. We highlight some factors that are important for well-being, as we find that internet searches associated with job search, civic participation, and healthy habits consistently predict well-being across several models, datasets and use cases during the period studied.

The authors investigate the adjustments in employment of regular and non-regular workers, exploiting the exchange-rate fluctuation and heterogeneous dependence on international trade across firms as a source of exogenous variation. An analysis of panel data of Japanese manufacturers reveals that the appreciation of the Japanese yen spontaneously decreased the sales of exporters and the employment of non-regular workers, but it did not reduce the employment of regular workers. This finding provides support for the claim that firms are likely to adjust the employment of non-regular workers to absorb exogenous shocks and to insulate regular workers from the shocks in an uncertain business environment. In exploring the mechanism driving these results, the authors also find that exporters use the employment of non-regular workers and wages of regular workers as adjustment margins for the exchange-rate fluctuation to hoard regular workers, who presumably hold higher levels of firm-specific human capital.

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