Google CEO Eric Schmidt has president-elect Barack Obama's ear when it comes to technology and economic issues, but he will not leave his job at the search giant if offered a position as technology czar in Obama's administration.

"I love working at Google, and I'm very happy to stay at Google, so the answer is no," Schmidt said on CNBC last week when asked about the possibility.

The internet played an integral role in Obama's election, and many expect him to focus on technology more than previous commander-in-chiefs.

Schmidt is already assisting the president-elect by serving on his economic transition advisory board, which convened in Chicago last week to discuss the economic crisis.

Some of the Google boss's recommendations for revitalizing the economy include a more focused stimulus package and an emphasis on green technology, according to a Reuters report.

Schmidt also predicted advertising would bounce back quickly from the tight economic times. "Advertising is one of the first things that get cut, and it's almost always a mistake, because you advertise to get revenue," he said.