What is it about?
In this paper we propose a data-driven approach for the construction of economic indicators. We make use of survey-based agents’ expectations about a wide range of economic variables to derive an empirically-generated indicator of economic activity.
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Why is it important?
This methodology is particularly indicated to generate indicators from large data sets. By means of evolutionary algorithms we derive mathematical functional forms that combine survey data to approximate a target variable.
Perspectives
Growing access to larger databases results in an increasing use of empirical modelling methodologies such as the one proposed in this paper for the design of indicators.
Oscar Claveria
AQR-IREA, Univeristy of Barcelona
Read the Original
This page is a summary of: A Data-Driven Approach to Construct Survey-Based Indicators by Means of Evolutionary Algorithms, Social Indicators Research, November 2016, Springer Science + Business Media,
DOI: 10.1007/s11205-016-1490-3.
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