Can machine learning on economic data better forecast the unemployment rate?

Aaron Kreiner and John Duca

Applied Economics Letters, 2020, vol. 27, issue 17, 1434-1437

Abstract: Using FRED data, a machine-learning model outperforms the Survey of Professional Forecasters and other models since 2001 in forecasting the unemployment rate.

Date: 2020
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DOI: 10.1080/13504851.2019.1688237

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