Machine Learning: New Tools for Economic Analysis

Katsuyuki Tanaka and Takashi Kamihigashi

No DP2022-22, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: This paper presents some of the key concepts for understanding machine learning. We briefly explain the basics and jargon related to machine learning and how it can be applied in economic analysis. This paper aims to reverse the impression of machine learning as a complicated technology, aid economists to become more familiar with it and start considering it as an alternative and attractive tool for new economic analysis.

Keywords: Machine learning; Data science (search for similar items in EconPapers)
JEL-codes: A10 C00 C01 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2022-04
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