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Electricity Demand as a High-Frequency Economic Indicator: A Case Study of the COVID-19 Pandemic and Hurricane Harvey

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Abstract

Electricity is used by all businesses in the United States. During quickly moving economic shocks—for example, a pandemic or natural disaster—changes in electricity consumption can provide insight to policymakers before traditional survey-based metrics, which can lag weeks or months behind economic conditions and typically only show a snapshot of when the survey was conducted.

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  • Joshua Blonz & Jacob Williams, 2020. "Electricity Demand as a High-Frequency Economic Indicator: A Case Study of the COVID-19 Pandemic and Hurricane Harvey," FEDS Notes 2020-10-21-2, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2020-10-21-2
    DOI: 10.17016/2380-7172.2781
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/electricity-demand-as-a-high-frequency-economic-indicator-20201021.htm
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    Cited by:

    1. Flávio Menezes & Vivian Figer & Fernanda Jardim & Pedro Medeiros, 2021. "Using electricity consumption to predict economic activity during COVID-19 in Brazil," Discussion Papers Series 641, School of Economics, University of Queensland, Australia.
    2. Menezes, Flavio & Figer, Vivian & Jardim, Fernanda & Medeiros, Pedro, 2022. "A near real-time economic activity tracker for the Brazilian economy during the COVID-19 pandemic," Economic Modelling, Elsevier, vol. 112(C).
    3. Barbaglia, Luca & Frattarolo, Lorenzo & Onorante, Luca & Pericoli, Filippo Maria & Ratto, Marco & Tiozzo Pezzoli, Luca, 2023. "Testing big data in a big crisis: Nowcasting under Covid-19," International Journal of Forecasting, Elsevier, vol. 39(4), pages 1548-1563.
    4. Alina Stundziene & Vaida Pilinkiene & Jurgita Bruneckiene & Andrius Grybauskas & Mantas Lukauskas, 2023. "Nowcasting Economic Activity Using Electricity Market Data: The Case of Lithuania," Economies, MDPI, vol. 11(5), pages 1-21, May.

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