Are Machine Learning (ML) algorithms superior to traditional econometric models for GDP nowcasting in a time series setting?
The Scandinavian Journal of Economics, Vol. 93, No. 2, Proceedings of a Conference on New Approaches to Empirical Macroeconomics (Jun., 1991), pp. 283-314 (32 pages) Macroeconometric models are in ...
Since econometric models have been utilized to generate quantitative forecasts of aggregate economic activity, it is of interest to determine how well the existing models have performed this function.