Nowcasting and forecasting the monthly food stamps data in the US using online search data

PLoS One. 2014 Nov 4;9(11):e111894. doi: 10.1371/journal.pone.0111894. eCollection 2014.

Abstract

We propose the use of Google online search data for nowcasting and forecasting the number of food stamps recipients. We perform a large out-of-sample forecasting exercise with almost 3000 competing models with forecast horizons up to 2 years ahead, and we show that models including Google search data statistically outperform the competing models at all considered horizons. These results hold also with several robustness checks, considering alternative keywords, a falsification test, different out-of-samples, directional accuracy and forecasts at the state-level.

MeSH terms

  • Food Assistance / economics
  • Food Assistance / trends*
  • Food Supply
  • Forecasting*
  • Humans
  • Models, Statistical
  • Search Engine
  • United States

Grants and funding

This author has no support or funding to report.