Article in Journal
Machine Learning in Economic Research
Matthias Huber, Simone Schüller, Marc Stöckli, Klaus Wohlrabe
ifo Institut, München, 2018
ifo Schnelldienst, 2018, 71, Nr. 07, 50-53
ifo Institut, München, 2018
ifo Schnelldienst, 2018, 71, Nr. 07, 50-53
In empirical economic research, the number of publications using methods of machine learning is increasing, albeit some scepticism prevails. One point of criticism is that although machine learning is suitable for forecasts, it is not able to identify causal relationships. However, in recent years research has dealt more thoroughly with this problem and many advances have been made. Machine learning thus has the potential to become more important in economic research in the future.
JEL Classification: C100
Included in
Journal (Complete Issue)
ifo Schnelldienst 07/2018: Expansion of Digital Infrastructure by 2025
ifo Institut, München, 2018