In the past 10 years, neural networks have emerged as a powerful tool for predictive modeling with "big data." This chapter discusses the potential role of neural networks as applied to economic forecasting. It begins with a brief discussion of the history of neural networks, their use in...

Economic policymaking relies upon accurate forecasts of economic conditions. Current methods for unconditional forecasting are dominated by inherently linear models that exhibit model dependence and have high data demands. We explore deep neural networks as an opportunity to improve upon...

With the concept of trend inflation now widely understood as to be important as a measure of the public's perception of the inflation goal of the central bank and important to the accuracy of longer-term inflation forecasts, this paper uses Bayesian methods to assess alternative models of trend...