This article describes a machine learning based approach applied to acquiring empirical forecasting models. The approach makes use of the LAGRAMGE equation discovery tool to define a potentially very wide range of equations to be considered for the model. Importantly, the equations can vary in...

We propose a model for analyzing euro area trade based on the interaction between macroeconomic and trade variables. First, we show that macroeconomic variables are necessary to generate accurate short-term trade forecasts; this result can be explained by the high correlation between trade and...

Papua New Guinea has not explicitly endorsed inflation targeting (IT) policy but it continues to pursue a policy framework that enables maintenance of low and stable inflation. A simple econometric model of inflation in Papua New Guinea is developed and analysed to identify the appropriate...

A simpler macroeconomic model of a developing economy is developed under the IS-LM and Mundell-Fleming model framework. The model is estimated and evaluated using the quarterly time-series data of Papua New Guinea, a small open developing economy. The macroeconometric version of the model, an...