Can Machine Learning on Economic Data Better Forecast the Unemployment Rate?
Abstract
Using FRED data, a machine-learning model outperforms the Survey of Professional Forecasters and other models since 2001 in forecasting the unemployment rate.
Repository Citation
Kreiner, Aaron, and John Duca. 2020. “Can Machine Learning on Economic Data Better Forecast the Unemployment Rate?” Applied Economics Letters 27(17): 1434-1437.
Publisher
Taylor & Francis
Publication Date
9-1-2020
Publication Title
Applied Economics Letters
Department
Economics
Document Type
Article
DOI
https://dx.doi.org/10.1080/13504851.2019.1688237
Keywords
Machine learning, Forecasting, Artificial intelligence, Unemployment
Language
English
Format
text
COinS
