Distributed Intelligence for Constructing Economic Models
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Ting Yu: University of Sydney, Australia
International Journal of Organizational and Collective Intelligence (IJOCI), 2010, vol. 1, issue 3, 20-33
This paper presents an integrated and distributed intelligent system being capable of automatically estimating and updating large-size economic models. The input-output model of economics uses a matrix representation of a nationâ€™s (or a regionâ€™s) economy to predict the effect of changes in one industry on others and by consumers, government, and foreign suppliers on the economy (Miller & Blair, 1985). To construct the model reflecting the underlying industry structure faithfully, multiple sources of data are collected and integrated together. The system in this paper facilitates this estimation process by integrating a series of components with the purposes of data retrieval, data integration, machine learning, and quality checking. More importantly, the complexity of national economy leads to extremely large-size models to represent every detail of an economy, which requires the system to have the capacity for processing large amounts of data. This paper demonstrates that the major bottleneck is the memory allocation, and to include more memory, the machine learning component is built on a distributed platform and constructs the matrix by analyzing historical and spatial data simultaneously. This system is the first distributed matrix estimation package for such a large-size economic matrix.
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Persistent link: https://EconPapers.repec.org/RePEc:igg:joci00:v:1:y:2010:i:3:p:20-33
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