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Predicting monetary policy using artificial neural networks

Hinterlang, Natascha - 2020

This paper analyses the forecasting performance of monetary policy reaction functions using U.S. Federal Reserve … forecasting purposes. Overall, evidence suggests that U.S. monetary policy behaviour between1987-2012 is nonlinear. …

Persistent link: https://www.econbiz.de/10012256503

Complexity : a review of the classics

Furtado, Bernardo Alves; Sakowski, Patrícia Alessandra … - 2015

This text was written as part of the project Modelling of Complex Systems for Public Policy. It reviews the classical authors who jointly contributed to establish the elements of what could constitute a "science of complexity". Based on the original writings of these authors, the text discusses...

Persistent link: https://www.econbiz.de/10012057058

Improving the pricing of options : a neural network approach

Anders, Ulrich; Korn, Olaf; Schmitt, Christian - 1996

In this paper we apply statistical inference techniques to build neural network models which are able to explain the prices of call options written on the German stock index DAX. By testing for the explanatory power of several input variables serving as network inputs, some insight into the...

Persistent link: https://www.econbiz.de/10011622006

Model selection in neural networks

Anders, Ulrich; Korn, Olaf - 1996

In this article we examine how model selection in neural networks can be guided by statistical procedures such as hypotheses tests, information criteria and cross validation. The application of these methods in neural network models is discussed, paying attention especially to the identification...

Persistent link: https://www.econbiz.de/10011622013

Automation, globalization and vanishing jobs : a labor market sorting view

Faia, Ester; Laffitte, Sébastien; Mayer, Maximilian; … - 2020

Persistent link: https://www.econbiz.de/10012486459

A note on automation, stagnation, and the implications of a robot tax

Gasteiger, Emanuel; Prettner, Klaus - 2017

We analyze the long-run growth effects of automation in the canonical overlapping generations framework. While … automation implies constant returns to capital within this model class (even in the absence of technological progress), we show … that it does not have the potential to lead to positive long-growth. The reason is that automation suppresses wages, which …

Persistent link: https://www.econbiz.de/10011668997