Augmenting household expenditure forecasts with online employee-generated company reviews

Efthymia Symitsi, Panagiotis Stamolampros, Antonios Karatzas

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Abstract

We assess the ability of online employee-generated content in predicting consumption expenditures. In so doing, we aggregate millions of employee expectations for the next six-month business outlook of their employer and build an employee sentiment index. We test whether forward-looking employee sentiment can contribute to baseline models when forecasting aggregate consumption in the United States and compare its performance to well-established, survey-based consumer sentiment indexes. We reveal that online employee opinions have incremental information that can be used to augment the accuracy of consumption forecasting models and inform economic policy decisions.
Original languageEnglish
JournalPublic Opinion Quarterly
Early online date1 Sep 2021
DOIs
Publication statusE-pub ahead of print - 1 Sep 2021

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