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This paper contributes a multivariate forecasting comparison between structural models and Machine-Learning-based tools. Specifically, a fully connected feed forward nonlinear autoregressive neural network (ANN) is contrasted to a well established dynamic stochastic general equilibrium (DSGE)...
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analysis, including for debt sustainability assessments, and points to statistical methods to improve forecast accuracy by …
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We develop a framework to nowcast (and forecast) economic variables with machine learning techniques. We explain how … models to predict real output growth with lower forecast errors than traditional models. By combining multiple machine … learning models into ensembles, we lower forecast errors even further. We also identify measures of variable importance to help …
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