Economists typically make simplifying assumptions to make the solution and estimation of their highly complex models … predictions of the model. We leverage the recent advancements in machine learning to develop a solution and estimation method … method is much more efficient than existing global solution methods and that the estimation converges to the true parameter …

shifting the pattern of behaviour. We show a change in the correlation between each of the three variables with stock returns …. Notably, a predominantly negative correlation with bond yields and inflation becomes positive, while the opposite is true for …