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The present paper develops Adaptive Trees, a new machine learning approach specifically designed for economic forecasting. Economic forecasting is made difficult by economic complexity, which implies non-linearities (multiple interactions and discontinuities) and unknown structural changes (the...
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Using a unique money manager database that allows managers to identify their own investment styles, we examine 4,754 non mutual fund value- and growth-oriented portfolios over the period 1999-2003. Consistent with style definitions, we find that on average, growth funds have price-earnings...
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theory (cf. e.g. Mukherjee, 2017; Veltri, 2017). This article proposes so-called Dynamic Factor Trees (DFT) and Dynamic … reduce to the standard Dynamic Factor Model (DFM) as a special case and allow us to embed theory-led factor models in …
Persistent link: https://www.econbiz.de/10012172506
Previous literature on the impact of the application of artificial intelligence in businesses on economic growth, welfare, and social disparities is scarce, due to limited data and the recent dynamics of the field. To contribute to this gap, the study employs the percentage of large enterprises...
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"Human capital," "ideas" and "knowledge" have been used as interchangeable, almost synonymous terms, representing knowledge-related factors in the neoclassical literature on growth. This paper emphasizes the differences between different forms of knowledge and tests the response of a standard...
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