Abstract
Original language  English 

Qualification  Doctor of Philosophy 
Awarding Institution 

Supervisors/Advisors 

Award date  9 Feb 1996 
Place of Publication  Tilburg 
Publisher  
Print ISBNs  9056680102 
Publication status  Published  1996 
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Neural networks in economic modelling : An empirical study. / Verkooijen, W.J.H.
Tilburg : CentER, Center for Economic Research, 1996. 205 p.Research output: Thesis › Doctoral Thesis
TY  THES
T1  Neural networks in economic modelling
T2  An empirical study
AU  Verkooijen, W.J.H.
PY  1996
Y1  1996
N2  This dissertation addresses the statistical aspects of neural networks and their usability for solving problems in economics and finance. Neural networks are discussed in a framework of modelling which is generally accepted in econometrics. Within this framework a neural network is regarded as a statistical technique that implements a modelfree regression strategy. Modelfree regression seems particularly useful in situations where economic theory cannot provide sensible model specifications. Neural networks are applied in three case studies: modelling house prices; predicting the production of new mortgage loans; predicting the foreign exchange rates. From these case studies is concluded that neural networks are a valuable addition to the econometrician's toolbox, but that they are no panacea.
AB  This dissertation addresses the statistical aspects of neural networks and their usability for solving problems in economics and finance. Neural networks are discussed in a framework of modelling which is generally accepted in econometrics. Within this framework a neural network is regarded as a statistical technique that implements a modelfree regression strategy. Modelfree regression seems particularly useful in situations where economic theory cannot provide sensible model specifications. Neural networks are applied in three case studies: modelling house prices; predicting the production of new mortgage loans; predicting the foreign exchange rates. From these case studies is concluded that neural networks are a valuable addition to the econometrician's toolbox, but that they are no panacea.
M3  Doctoral Thesis
SN  9056680102
T3  CentER Dissertation Series
PB  CentER, Center for Economic Research
CY  Tilburg
ER 