Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/126147
Authors: 
Arora, Vipin
Lieskovsky, Jozef
Year of Publication: 
26-Jan-2016
Abstract: 
We argue for the resurrection of an old idea: electricity use as an indicator of U.S. economic activity. Our analysis relies on associations–the 40-year correlation between growth rates in real GDP and electricity use can be as high as 89% –and intuition. Electricity use and economic conditions should move together. The vast majority of goods and services are still produced using electricity; services may require less electricity, but they still require some. Electricity use also has other strengths –it is broad-based and the data are available weekly, possibly hourly by 2015.
Subjects: 
electricity
economic indicator
business cycles
JEL: 
E32
E37
Q43
Document Type: 
Research Report

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