Macroeconomic Forecasting Using Alternative Data

Macroeconomic Forecasting Using Alternative Data
Author: Apurv Jain
Publsiher: Academic Press
Total Pages: 250
Release: 2020-08
ISBN 10: 9780128191217
ISBN 13: 012819121X
Language: EN, FR, DE, ES & NL

Macroeconomic Forecasting Using Alternative Data Book Review:

Macroeconomic Forecasting Using Alternative Data applies computer science to the demands of macroeconomic forecasting. It is the first book to combine machine learning methods with macroeconomics. By using artificial intelligence and machine learning techniques, it unlocks the increased forecasting accuracy offered by alternative data sources. Through its interdisciplinary approach, readers learn how to use big datasets efficiently and effectively. Combines big data/machine learning with macroeconomic forecasting Explains how alternative data improve forecasting accuracy when controlled for traditional data sources Provides new innovative methods for handling large databases and improving forecasting accuracy

Macro Forecasting Using Alternative Data

Macro Forecasting Using Alternative Data
Author: Apurv Jain
Publsiher: Unknown
Total Pages: 48
Release: 2019
ISBN 10: 1928374650XXX
ISBN 13: OCLC:1304265178
Language: EN, FR, DE, ES & NL

Macro Forecasting Using Alternative Data Book Review:

Traditional macroeconomic data used by economic agents to make decisions are noisy, lack richness, and produced with considerable lag. This chapter explores how alternative, web-scale data sources (“Big Data”) can help. We present a case study using a common alternative data source- web search to predict one of the most important data releases- non-farm payrolls (NFP). We discuss the efficacy of various machine learning (ML) techniques, the live performance of alternative data prediction models and the typical problems faced in practice.

Macroeconomic Forecasting in the Era of Big Data

Macroeconomic Forecasting in the Era of Big Data
Author: Peter Fuleky
Publsiher: Springer Nature
Total Pages: 719
Release: 2019-11-28
ISBN 10: 3030311503
ISBN 13: 9783030311506
Language: EN, FR, DE, ES & NL

Macroeconomic Forecasting in the Era of Big Data Book Review:

This book surveys big data tools used in macroeconomic forecasting and addresses related econometric issues, including how to capture dynamic relationships among variables; how to select parsimonious models; how to deal with model uncertainty, instability, non-stationarity, and mixed frequency data; and how to evaluate forecasts, among others. Each chapter is self-contained with references, and provides solid background information, while also reviewing the latest advances in the field. Accordingly, the book offers a valuable resource for researchers, professional forecasters, and students of quantitative economics.

Fintech with Artificial Intelligence Big Data and Blockchain

Fintech with Artificial Intelligence  Big Data  and Blockchain
Author: Paul Moon Sub Choi,Seth H. Huang
Publsiher: Springer Nature
Total Pages: 304
Release: 2021-03-08
ISBN 10: 9813361379
ISBN 13: 9789813361379
Language: EN, FR, DE, ES & NL

Fintech with Artificial Intelligence Big Data and Blockchain Book Review:

This book introduces readers to recent advancements in financial technologies. The contents cover some of the state-of-the-art fields in financial technology, practice, and research associated with artificial intelligence, big data, and blockchain—all of which are transforming the nature of how products and services are designed and delivered, making less adaptable institutions fast become obsolete. The book provides the fundamental framework, research insights, and empirical evidence in the efficacy of these new technologies, employing practical and academic approaches to help professionals and academics reach innovative solutions and grow competitive strengths.

Handbook of US Consumer Economics

Handbook of US Consumer Economics
Author: Andrew Haughwout,Benjamin Mandel
Publsiher: Academic Press
Total Pages: 550
Release: 2019-08-15
ISBN 10: 0128135247
ISBN 13: 9780128135242
Language: EN, FR, DE, ES & NL

Handbook of US Consumer Economics Book Review:

Handbook of U.S. Consumer Economics presents a deep understanding on key, current topics and a primer on the landscape of contemporary research on the U.S. consumer. This volume reveals new insights into household decision-making on consumption and saving, borrowing and investing, portfolio allocation, demand of professional advice, and retirement choices. Nearly 70% of U.S. gross domestic product is devoted to consumption, making an understanding of the consumer a first order issue in macroeconomics. After all, understanding how households played an important role in the boom and bust cycle that led to the financial crisis and recent great recession is a key metric. Introduces household finance by examining consumption and borrowing choices Tackles macro-problems by observing new, original micro-data Looks into the future of consumer spending by using data, not questionnaires

Does Alternative Data Improve Financial Forecasting

Does Alternative Data Improve Financial Forecasting
Author: Olivier Dessaint,Thierry Foucault,Laurent Frésard
Publsiher: Unknown
Total Pages: 64
Release: 2021
ISBN 10: 1928374650XXX
ISBN 13: OCLC:1262661520
Language: EN, FR, DE, ES & NL

Does Alternative Data Improve Financial Forecasting Book Review:

We analyze the effect of alternative data on the informativeness of financial forecasts. Our starting hypothesis is that the emergence of alternative data reduces the cost of obtaining information about firms' short-term cash-flows more than their long-term cash-flows. If correct, and forecasting short-term and long-term cash-flows are distinct tasks, analysts will reduce effort to process long-term information when alternative data become available. Alternative data thus makes long-term forecasts less informative, while increasing the informativeness of short-term forecasts. We confirm this prediction using variations in analysts' exposure to social media data and a new measure of forecast informativeness at various horizons.

Data Science for Economics and Finance

Data Science for Economics and Finance
Author: Sergio Consoli,Diego Reforgiato Recupero,Michaela Saisana
Publsiher: Springer Nature
Total Pages: 355
Release: 2021
ISBN 10: 3030668916
ISBN 13: 9783030668914
Language: EN, FR, DE, ES & NL

Data Science for Economics and Finance Book Review:

This open access book covers the use of data science, including advanced machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, time series analysis, among others, for applications in economics and finance. In addition, it shows some successful applications of advanced data science solutions used to extract new knowledge from data in order to improve economic forecasting models. The book starts with an introduction on the use of data science technologies in economics and finance and is followed by thirteen chapters showing success stories of the application of specific data science methodologies, touching on particular topics related to novel big data sources and technologies for economic analysis (e.g. social media and news); big data models leveraging on supervised/unsupervised (deep) machine learning; natural language processing to build economic and financial indicators; and forecasting and nowcasting of economic variables through time series analysis. This book is relevant to all stakeholders involved in digital and data-intensive research in economics and finance, helping them to understand the main opportunities and challenges, become familiar with the latest methodological findings, and learn how to use and evaluate the performances of novel tools and frameworks. It primarily targets data scientists and business analysts exploiting data science technologies, and it will also be a useful resource to research students in disciplines and courses related to these topics. Overall, readers will learn modern and effective data science solutions to create tangible innovations for economic and financial applications.

Handbook of US Consumer Economics

Handbook of US Consumer Economics
Author: Andrew Haughwout,Benjamin Mandel
Publsiher: Academic Press
Total Pages: 456
Release: 2019-08-12
ISBN 10: 0128135255
ISBN 13: 9780128135259
Language: EN, FR, DE, ES & NL

Handbook of US Consumer Economics Book Review:

Handbook of U.S. Consumer Economics presents a deep understanding on key, current topics and a primer on the landscape of contemporary research on the U.S. consumer. This volume reveals new insights into household decision-making on consumption and saving, borrowing and investing, portfolio allocation, demand of professional advice, and retirement choices. Nearly 70% of U.S. gross domestic product is devoted to consumption, making an understanding of the consumer a first order issue in macroeconomics. After all, understanding how households played an important role in the boom and bust cycle that led to the financial crisis and recent great recession is a key metric. Introduces household finance by examining consumption and borrowing choices Tackles macro-problems by observing new, original micro-data Looks into the future of consumer spending by using data, not questionnaires

A Companion to Economic Forecasting

A Companion to Economic Forecasting
Author: Michael P. Clements,David F. Hendry
Publsiher: John Wiley & Sons
Total Pages: 616
Release: 2008-04-15
ISBN 10: 140517191X
ISBN 13: 9781405171915
Language: EN, FR, DE, ES & NL

A Companion to Economic Forecasting Book Review:

A Companion to Economic Forecasting provides an accessible and comprehensive account of recent developments in economic forecasting. Each of the chapters has been specially written by an expert in the field, bringing together in a single volume a range of contrasting approaches and views. Uniquely surveying forecasting in a single volume, the Companion provides a comprehensive account of the leading approaches and modeling strategies that are routinely employed.

The Book of Alternative Data

The Book of Alternative Data
Author: Alexander Denev,Saeed Amen
Publsiher: John Wiley & Sons
Total Pages: 416
Release: 2020-06-29
ISBN 10: 1119601800
ISBN 13: 9781119601807
Language: EN, FR, DE, ES & NL

The Book of Alternative Data Book Review:

The first and only book to systematically address methodologies and processes of leveraging non-traditional information sources in the context of investing and risk management Harnessing non-traditional data sources to generate alpha, analyze markets, and forecast risk is a subject of intense interest for financial professionals. A growing number of regularly-held conferences on alternative data are being established, complemented by an upsurge in new papers on the subject. Alternative data is starting to be steadily incorporated by conventional institutional investors and risk managers throughout the financial world. Methodologies to analyze and extract value from alternative data, guidance on how to source data and integrate data flows within existing systems is currently not treated in literature. Filling this significant gap in knowledge, The Book of Alternative Data is the first and only book to offer a coherent, systematic treatment of the subject. This groundbreaking volume provides readers with a roadmap for navigating the complexities of an array of alternative data sources, and delivers the appropriate techniques to analyze them. The authors—leading experts in financial modeling, machine learning, and quantitative research and analytics—employ a step-by-step approach to guide readers through the dense jungle of generated data. A first-of-its kind treatment of alternative data types, sources, and methodologies, this innovative book: Provides an integrated modeling approach to extract value from multiple types of datasets Treats the processes needed to make alternative data signals operational Helps investors and risk managers rethink how they engage with alternative datasets Features practical use case studies in many different financial markets and real-world techniques Describes how to avoid potential pitfalls and missteps in starting the alternative data journey Explains how to integrate information from different datasets to maximize informational value The Book of Alternative Data is an indispensable resource for anyone wishing to analyze or monetize different non-traditional datasets, including Chief Investment Officers, Chief Risk Officers, risk professionals, investment professionals, traders, economists, and machine learning developers and users.

Economic Forecasting

Economic Forecasting
Author: Graham Elliott,Allan Timmermann
Publsiher: Princeton University Press
Total Pages: 568
Release: 2016-04-05
ISBN 10: 0691140138
ISBN 13: 9780691140131
Language: EN, FR, DE, ES & NL

Economic Forecasting Book Review:

Economic forecasting involves choosing simple yet robust models to best approximate highly complex and evolving data-generating processes. This poses unique challenges for researchers in a host of practical forecasting situations, from forecasting budget deficits and assessing financial risk to predicting inflation and stock market returns. Economic Forecasting presents a comprehensive, unified approach to assessing the costs and benefits of different methods currently available to forecasters. This text approaches forecasting problems from the perspective of decision theory and estimation, and demonstrates the profound implications of this approach for how we understand variable selection, estimation, and combination methods for forecasting models, and how we evaluate the resulting forecasts. Both Bayesian and non-Bayesian methods are covered in depth, as are a range of cutting-edge techniques for producing point, interval, and density forecasts. The book features detailed presentations and empirical examples of a range of forecasting methods and shows how to generate forecasts in the presence of large-dimensional sets of predictor variables. The authors pay special attention to how estimation error, model uncertainty, and model instability affect forecasting performance. Presents a comprehensive and integrated approach to assessing the strengths and weaknesses of different forecasting methods Approaches forecasting from a decision theoretic and estimation perspective Covers Bayesian modeling, including methods for generating density forecasts Discusses model selection methods as well as forecast combinations Covers a large range of nonlinear prediction models, including regime switching models, threshold autoregressions, and models with time-varying volatility Features numerous empirical examples Examines the latest advances in forecast evaluation Essential for practitioners and students alike

Multiple Aspect Analysis of Semantic Trajectories

Multiple Aspect Analysis of Semantic Trajectories
Author: Konstantinos Tserpes,Chiara Renso,Stan Matwin
Publsiher: Springer Nature
Total Pages: 133
Release: 2020-01-01
ISBN 10: 3030380815
ISBN 13: 9783030380816
Language: EN, FR, DE, ES & NL

Multiple Aspect Analysis of Semantic Trajectories Book Review:

This open access book constitutes the refereed post-conference proceedings of the First International Workshop on Multiple-Aspect Analysis of Semantic Trajectories, MASTER 2019, held in conjunction with the 19th European Conference on Machine Learning and Knowledge Discovery in Databases, ECML PKDD 2019, in Würzburg, Germany, in September 2019. The 8 full papers presented were carefully reviewed and selected from 12 submissions. They represent an interesting mix of techniques to solve recurrent as well as new problems in the semantic trajectory domain, such as data representation models, data management systems, machine learning approaches for anomaly detection, and common pathways identification.

Economic Forecasts

Economic Forecasts
Author: Ralf Brüggemann,Winfried Pohlmeier,Werner Smolny
Publsiher: Walter de Gruyter GmbH & Co KG
Total Pages: 176
Release: 2016-11-21
ISBN 10: 3110510847
ISBN 13: 9783110510843
Language: EN, FR, DE, ES & NL

Economic Forecasts Book Review:

Forecasts guide decisions in all areas of economics and finance. Economic policy makers base their decisions on business cycle forecasts, investment decisions of firms are based on demand forecasts, and portfolio managers try to outperform the market based on financial market forecasts. Forecasts extract relevant information from the past and help to reduce the inherent uncertainty of the future. The topic of this special issue of the Journal of Economics and Statistics is the theory and practise of forecasting and forecast evaluation and an overview of the state of the art of forecasting.

Financial Macro and Micro Econometrics Using R

Financial  Macro and Micro Econometrics Using R
Author: Hrishikesh D. Vinod
Publsiher: North Holland
Total Pages: 350
Release: 2020-01-24
ISBN 10: 0128202505
ISBN 13: 9780128202500
Language: EN, FR, DE, ES & NL

Financial Macro and Micro Econometrics Using R Book Review:

Financial, Macro and Micro Econometrics Using R, Volume 42, provides state-of-the-art information on important topics in econometrics, including multivariate GARCH, stochastic frontiers, fractional responses, specification testing and model selection, exogeneity testing, causal analysis and forecasting, GMM models, asset bubbles and crises, corporate investments, classification, forecasting, nonstandard problems, cointegration, financial market jumps and co-jumps, among other topics. Presents chapters authored by distinguished, honored researchers who have received awards from the Journal of Econometrics or the Econometric Society Includes descriptions and links to resources and free open source R Gives readers what they need to jumpstart their understanding on the state-of-the-art

The Oxford Handbook of Economic Forecasting

The Oxford Handbook of Economic Forecasting
Author: Michael P. Clements,David F. Hendry
Publsiher: OUP USA
Total Pages: 712
Release: 2011-07-08
ISBN 10: 0195398645
ISBN 13: 9780195398649
Language: EN, FR, DE, ES & NL

The Oxford Handbook of Economic Forecasting Book Review:

Greater data availability has been coupled with developments in statistical theory and economic theory to allow more elaborate and complicated models to be entertained. These include factor models, DSGE models, restricted vector autoregressions, and non-linear models.

Macroeconomic Forecasting

Macroeconomic Forecasting
Author: Robert Evans
Publsiher: Routledge
Total Pages: 256
Release: 2002-01-22
ISBN 10: 1134623461
ISBN 13: 9781134623464
Language: EN, FR, DE, ES & NL

Macroeconomic Forecasting Book Review:

Drawing on interviews with the UK government's Panel of Independent Forecasters, the author shows how economic models, forecasts and policy analysis depend crucially upon the judgements of economists.

Big Data and Machine Learning in Quantitative Investment

Big Data and Machine Learning in Quantitative Investment
Author: Tony Guida
Publsiher: John Wiley & Sons
Total Pages: 296
Release: 2018-12-12
ISBN 10: 1119522080
ISBN 13: 9781119522089
Language: EN, FR, DE, ES & NL

Big Data and Machine Learning in Quantitative Investment Book Review:

Get to know the ‘why’ and ‘how’ of machine learning and big data in quantitative investment Big Data and Machine Learning in Quantitative Investment is not just about demonstrating the maths or the coding. Instead, it’s a book by practitioners for practitioners, covering the questions of why and how of applying machine learning and big data to quantitative finance. The book is split into 13 chapters, each of which is written by a different author on a specific case. The chapters are ordered according to the level of complexity; beginning with the big picture and taxonomy, moving onto practical applications of machine learning and finally finishing with innovative approaches using deep learning. • Gain a solid reason to use machine learning • Frame your question using financial markets laws • Know your data • Understand how machine learning is becoming ever more sophisticated Machine learning and big data are not a magical solution, but appropriately applied, they are extremely effective tools for quantitative investment — and this book shows you how.

Annual Report to Congress

Annual Report to Congress
Author: United States. Energy Information Administration
Publsiher: Unknown
Total Pages: 135
Release: 1978
ISBN 10: 1928374650XXX
ISBN 13: STANFORD:36105112128405
Language: EN, FR, DE, ES & NL

Annual Report to Congress Book Review:

Impact of COVID 19 Nowcasting and Big Data to Track Economic Activity in Sub Saharan Africa

Impact of COVID 19  Nowcasting and Big Data to Track Economic Activity in Sub Saharan Africa
Author: Brandon Buell,Reda Cherif,Carissa Chen,Karl Walentin,Jiawen Tang
Publsiher: International Monetary Fund
Total Pages: 60
Release: 2021-05
ISBN 10: 1513582496
ISBN 13: 9781513582498
Language: EN, FR, DE, ES & NL

Impact of COVID 19 Nowcasting and Big Data to Track Economic Activity in Sub Saharan Africa Book Review:

The COVID-19 pandemic underscores the critical need for detailed, timely information on its evolving economic impacts, particularly for Sub-Saharan Africa (SSA) where data availability and lack of generalizable nowcasting methodologies limit efforts for coordinated policy responses. This paper presents a suite of high frequency and granular country-level indicator tools that can be used to nowcast GDP and track changes in economic activity for countries in SSA. We make two main contributions: (1) demonstration of the predictive power of alternative data variables such as Google search trends and mobile payments, and (2) implementation of two types of modelling methodologies, machine learning and parametric factor models, that have flexibility to incorporate mixed-frequency data variables. We present nowcast results for 2019Q4 and 2020Q1 GDP for Kenya, Nigeria, South Africa, Uganda, and Ghana, and argue that our factor model methodology can be generalized to nowcast and forecast GDP for other SSA countries with limited data availability and shorter timeframes.

The Business Cycle Theories and Evidence

The Business Cycle  Theories and Evidence
Author: M.T. Belongia,Michelle R. Garfinkel
Publsiher: Springer Science & Business Media
Total Pages: 209
Release: 2012-12-06
ISBN 10: 9401129568
ISBN 13: 9789401129565
Language: EN, FR, DE, ES & NL

The Business Cycle Theories and Evidence Book Review:

These proceedings, from a conference held at the Federal Reserve Bank of St. Louis on October 17-18, 1991, attempted to layout what we currently know about aggregate economic fluctuations. Identifying what we know inevitably reveals what we do not know about such fluctuations as well. From the vantage point of where the conference's participants view our current understanding to be, these proceedings can be seen as suggesting an agenda for further research. The conference was divided into five sections. It began with the formu lation of an empirical definition of the "business cycle" and a recitation of the stylized facts that must be explained by any theory that purports to capture the business cycle's essence. After outlining the historical develop ment and key features of the current "theories" of business cycles, the conference evaluated these theories on the basis of their ability to explain the facts. Included in this evaluation was a discussion of whether (and how) the competing theories could be distinguished empirically. The conference then examined the implications for policy of what is known and not known about business cycles. A panel discussion closed the conference, high lighting important unresolved theoretical and empirical issues that should be taken up in future business cycle research. What Is a Business Cycle? Before gaining a genuine understanding of business cycles, economists must agree and be clear about what they mean when they refer to the cycle.