The DOI matches its Crossref record; 10 of the 10 references it cites were found in a registry or an index.
Forecasting private consumption: survey-based indicators vs. Google trends
Open accessAbstract
In this study we introduce a new indicator for private consumption based on search query time series provided by Google Trends. The indicator is based on factors extracted from consumption-related search categories of the Google Trends application Insights for Search. The forecasting performance of the new indicator is assessed relative to the two most common survey-based indicators: the University of Michigan Consumer Sentiment Index and the Conference Board Consumer Confidence Index. The results show that in almost all conducted in-sample and out-of-sample forecasting experiments the Google indicator outperforms the survey-based indicators. This suggests that incorporating information from Google Trends may offer significant benefits to forecasters of private consumption. Copyright © 2011 John Wiley & Sons, Ltd.
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Testing the equality of prediction mean squared errors
Harvey, D., Leybourne, S., & Newbold, P. (1997) · International Journal of Forecasting · doi:10.1016/s0169-2070(96)00719-4 · Cited by 2,067
Consumer Confidence and Consumer Spending
Ludvigson, S. C. (2004) · The Journal of Economic Perspectives · doi:10.1257/0895330041371222 · Cited by 735
Does Consumer Sentiment Forecast Household Spending? If So, Why?
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Google Econometrics and Unemployment Forecasting
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Varian, H. R., & Choi, H. (2009) · SSRN Electronic Journal · doi:10.2139/ssrn.1659302 · Cited by 426
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Choi, H. (2009) · SSRN Electronic Journal · Cited by 219
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Croushore, D. (2005) · The North American Journal of Economics and Finance · doi:10.1016/j.najef.2005.05.002 · Cited by 86
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Metadata
- Authors
- Vosen, S., & Schmidt, T.
- Venue
- Journal of Forecasting
- Publisher
- Wiley
- Published
- 2011-01-13
- Volume
- 30
- Issue
- 6
- Pages
- 565-578
- ISSN
- 0277-6693 (ISSN-L)
- OpenAlex
- W3022023470
- Cited by
- 560
- References
- 10
- FWCI
- 30.35
- Type
- journal article
- Language
- en
- Open access
- green
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