Nowcasting macroeconomic trends is of significant practical importance,as real-time data analysis can provide valuable insights for decision-makers.This paper addresses the limitations of traditional econometric models and analyzes the strengths and weaknesses of machine learning models in Nowcasting,particularly in their ability to handle non-linearity and time-variability.Compared to traditional data,textual big data features diversity,heterogeneity,large scale,and high temporal frequency,offering new sources of information.Under appropriate learning methodologies,this can enhance the accuracy of forecasts,providing more accurate and timely support for economic decision-making and market predictions.
关键词
Nowcasting/动态因子/机器学习/文本数据
Key words
Nowcasting/Dynamic Factors/Machine Learning/Textual Data
维普
万方数据