Are Machine Learning (ML) algorithms superior to traditional econometric models for GDP nowcasting in a time series setting? Based on our evaluation of all models from both classes ever used in ...

Spatial econometrics addresses the challenges posed by spatially correlated data, enabling researchers to understand and quantify how economic phenomena in one location can influence those in ...

Lawrence Klein, the University of Pennsylvania economist who won the 1980 Nobel Prize for his computer-based models that help governments forecast the future and act accordingly, died Sunday at his ...

ECONOMISTS develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “What Are Economic Models,” F&D, ...

Lawrence Klein appeared on scene just as statistical and mathematical methods were first being introduced in economics and he quickly became a leading figure in econometrics. Having witnessed the ...

Journal of Applied Econometrics, Vol. 19, No. 4, Topics in Health Econometrics (Jul. - Aug., 2004), pp. 435-453 (19 pages) This paper presents estimates of a dynamic individual-level model of cannabis ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, ...