Data Science for Economics and Finance

Data Science for Economics and Finance

Author: Sergio Consoli

Publisher: Springer Nature

Published: 2021

Total Pages: 357

ISBN-13: 3030668916

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This open access book covers the use of data science, including advanced machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, time series analysis, among others, for applications in economics and finance. In addition, it shows some successful applications of advanced data science solutions used to extract new knowledge from data in order to improve economic forecasting models. The book starts with an introduction on the use of data science technologies in economics and finance and is followed by thirteen chapters showing success stories of the application of specific data science methodologies, touching on particular topics related to novel big data sources and technologies for economic analysis (e.g. social media and news); big data models leveraging on supervised/unsupervised (deep) machine learning; natural language processing to build economic and financial indicators; and forecasting and nowcasting of economic variables through time series analysis. This book is relevant to all stakeholders involved in digital and data-intensive research in economics and finance, helping them to understand the main opportunities and challenges, become familiar with the latest methodological findings, and learn how to use and evaluate the performances of novel tools and frameworks. It primarily targets data scientists and business analysts exploiting data science technologies, and it will also be a useful resource to research students in disciplines and courses related to these topics. Overall, readers will learn modern and effective data science solutions to create tangible innovations for economic and financial applications.


Book Synopsis Data Science for Economics and Finance by : Sergio Consoli

Download or read book Data Science for Economics and Finance written by Sergio Consoli and published by Springer Nature. This book was released on 2021 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book covers the use of data science, including advanced machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, time series analysis, among others, for applications in economics and finance. In addition, it shows some successful applications of advanced data science solutions used to extract new knowledge from data in order to improve economic forecasting models. The book starts with an introduction on the use of data science technologies in economics and finance and is followed by thirteen chapters showing success stories of the application of specific data science methodologies, touching on particular topics related to novel big data sources and technologies for economic analysis (e.g. social media and news); big data models leveraging on supervised/unsupervised (deep) machine learning; natural language processing to build economic and financial indicators; and forecasting and nowcasting of economic variables through time series analysis. This book is relevant to all stakeholders involved in digital and data-intensive research in economics and finance, helping them to understand the main opportunities and challenges, become familiar with the latest methodological findings, and learn how to use and evaluate the performances of novel tools and frameworks. It primarily targets data scientists and business analysts exploiting data science technologies, and it will also be a useful resource to research students in disciplines and courses related to these topics. Overall, readers will learn modern and effective data science solutions to create tangible innovations for economic and financial applications.

Nowcasting II

Nowcasting II

Author: B. Battrick

Publisher:

Published: 1984

Total Pages: 548

ISBN-13:

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Book Synopsis Nowcasting II by : B. Battrick

Download or read book Nowcasting II written by B. Battrick and published by . This book was released on 1984 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable

Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable

Author: Omer Faruk Akbal

Publisher: International Monetary Fund

Published: 2023-08-04

Total Pages: 36

ISBN-13:

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Quarterly GDP statistics facilitate timely economic assessment, but the availability of such data are limited for more than 60 developing economies, including about 20 countries in sub-Saharan Africa as well as more than two-thirds of fragile and conflict-affected states. To address this limited data availablity, this paper proposes a panel approach that utilizes a statistical relationship estimated from countries where data are available, to estimate quarterly GDP statistics for countries that do not publish such statistics by leveraging the indicators readily available for many countries. This framework demonstrates potential, especially when applied for similar country groups, and could provide valuable real-time insights into economic conditions supported by empirical evidence.


Book Synopsis Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable by : Omer Faruk Akbal

Download or read book Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable written by Omer Faruk Akbal and published by International Monetary Fund. This book was released on 2023-08-04 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quarterly GDP statistics facilitate timely economic assessment, but the availability of such data are limited for more than 60 developing economies, including about 20 countries in sub-Saharan Africa as well as more than two-thirds of fragile and conflict-affected states. To address this limited data availablity, this paper proposes a panel approach that utilizes a statistical relationship estimated from countries where data are available, to estimate quarterly GDP statistics for countries that do not publish such statistics by leveraging the indicators readily available for many countries. This framework demonstrates potential, especially when applied for similar country groups, and could provide valuable real-time insights into economic conditions supported by empirical evidence.

Earthquakes and Multi-hazards Around the Pacific Rim, Vol. II

Earthquakes and Multi-hazards Around the Pacific Rim, Vol. II

Author: Charles A. Williams

Publisher: Springer

Published: 2018-05-16

Total Pages: 205

ISBN-13: 3319922971

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This is the second of two volumes devoted to earthquakes and multi-hazards around the Pacific Rim. The circum-Pacific seismic belt is home to roughly 80% of the world’s largest earthquakes, making it the ideal location for investigating earthquakes and related hazards such as tsunamis and landslides. Following the Introduction, this volume includes 14 papers covering a range of topics related to multi-hazards. The book is divided into five sections: viscoelastic deformation, earthquake source models, earthquake prediction, seismic hazard assessment, and tsunami simulation. Viscoelastic relaxation can play an important role in subduction zone behavior, and this is explored in the first section, with specific examples including the Tohoku-oki earthquake in Eastern Japan. In addition to laboratory rock friction experiments, the second section examines earthquake source models for the 2016 MW 6.6 Aketao earthquake in Eastern Pamir and two earthquakes in Eastern Taiwan, along with strong ground motion studies of the 2008 MW 7.9 Wenchuan, China earthquake. The Load/Unload Response Ratio (LURR), Natural Time (NT), and “nowcasting” are earthquake prediction techniques that are analyzed in the third section, with nowcasting predictions performed for a number of large cities globally. Viscoelastic relaxation can play an important role in subduction zone behavior, assessment are the focus of the fourth section, with specific applications to the Himalayan-Tibetan region and the Xianshuihe Fault Zone in Southwest China. In the last section, a new approach in modeling tsunami height distributions is described. Rapid advances are being made in our understanding of multi-hazards, as well as the range of tools used to investigate them. This volume provides a representative cross-section of how state-of-the-art knowledge and tools are currently being applied to multi-hazards around the Pacific Rim. The material here should be of interest to scientists involved in all areas of multi-hazards, particularly seismic and tsunami hazards. In addition, it offers a valuable resource for students in the geosciences, covering a broad spectrum of topics related to hazard research.


Book Synopsis Earthquakes and Multi-hazards Around the Pacific Rim, Vol. II by : Charles A. Williams

Download or read book Earthquakes and Multi-hazards Around the Pacific Rim, Vol. II written by Charles A. Williams and published by Springer. This book was released on 2018-05-16 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second of two volumes devoted to earthquakes and multi-hazards around the Pacific Rim. The circum-Pacific seismic belt is home to roughly 80% of the world’s largest earthquakes, making it the ideal location for investigating earthquakes and related hazards such as tsunamis and landslides. Following the Introduction, this volume includes 14 papers covering a range of topics related to multi-hazards. The book is divided into five sections: viscoelastic deformation, earthquake source models, earthquake prediction, seismic hazard assessment, and tsunami simulation. Viscoelastic relaxation can play an important role in subduction zone behavior, and this is explored in the first section, with specific examples including the Tohoku-oki earthquake in Eastern Japan. In addition to laboratory rock friction experiments, the second section examines earthquake source models for the 2016 MW 6.6 Aketao earthquake in Eastern Pamir and two earthquakes in Eastern Taiwan, along with strong ground motion studies of the 2008 MW 7.9 Wenchuan, China earthquake. The Load/Unload Response Ratio (LURR), Natural Time (NT), and “nowcasting” are earthquake prediction techniques that are analyzed in the third section, with nowcasting predictions performed for a number of large cities globally. Viscoelastic relaxation can play an important role in subduction zone behavior, assessment are the focus of the fourth section, with specific applications to the Himalayan-Tibetan region and the Xianshuihe Fault Zone in Southwest China. In the last section, a new approach in modeling tsunami height distributions is described. Rapid advances are being made in our understanding of multi-hazards, as well as the range of tools used to investigate them. This volume provides a representative cross-section of how state-of-the-art knowledge and tools are currently being applied to multi-hazards around the Pacific Rim. The material here should be of interest to scientists involved in all areas of multi-hazards, particularly seismic and tsunami hazards. In addition, it offers a valuable resource for students in the geosciences, covering a broad spectrum of topics related to hazard research.

International Weather Radar Networking

International Weather Radar Networking

Author: C.G. Collier

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 323

ISBN-13: 9401124043

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International Weather Radar Networking covers all aspects of the subject in a collection of contributions drawn from all over the world. Of particular interest are the papers describing work in Eastern Europe and papers reviewing of the achievements of the Commission of the European Communities COST-73 project. During the last twenty years there has been a rapid growth in the number of digital radars deployed for operational use in Western Europe. There are now around 100, of which about half have a Doppler capability, providing wind as well as reflectivity information. The international exchange of the data from these systems promises a great enhancement of the benefits to weather forecasting and commercial users. This volume reports work being undertaken to realize those benefits and points the way to future developments of radar technology.


Book Synopsis International Weather Radar Networking by : C.G. Collier

Download or read book International Weather Radar Networking written by C.G. Collier and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Weather Radar Networking covers all aspects of the subject in a collection of contributions drawn from all over the world. Of particular interest are the papers describing work in Eastern Europe and papers reviewing of the achievements of the Commission of the European Communities COST-73 project. During the last twenty years there has been a rapid growth in the number of digital radars deployed for operational use in Western Europe. There are now around 100, of which about half have a Doppler capability, providing wind as well as reflectivity information. The international exchange of the data from these systems promises a great enhancement of the benefits to weather forecasting and commercial users. This volume reports work being undertaken to realize those benefits and points the way to future developments of radar technology.

Identifying Optimal Indicators and Lag Terms for Nowcasting Models

Identifying Optimal Indicators and Lag Terms for Nowcasting Models

Author: Jing Xie

Publisher: International Monetary Fund

Published: 2023-03-03

Total Pages: 38

ISBN-13:

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Many central banks and government agencies use nowcasting techniques to obtain policy relevant information about the business cycle. Existing nowcasting methods, however, have two critical shortcomings for this purpose. First, in contrast to machine-learning models, they do not provide much if any guidance on selecting the best explantory variables (both high- and low-frequency indicators) from the (typically) larger set of variables available to the nowcaster. Second, in addition to the selection of explanatory variables, the order of the autoregression and moving average terms to use in the baseline nowcasting regression is often set arbitrarily. This paper proposes a simple procedure that simultaneously selects the optimal indicators and ARIMA(p,q) terms for the baseline nowcasting regression. The proposed AS-ARIMAX (Adjusted Stepwise Autoregressive Moving Average methods with exogenous variables) approach significantly reduces out-of-sample root mean square error for nowcasts of real GDP of six countries, including India, Argentina, Australia, South Africa, the United Kingdom, and the United States.


Book Synopsis Identifying Optimal Indicators and Lag Terms for Nowcasting Models by : Jing Xie

Download or read book Identifying Optimal Indicators and Lag Terms for Nowcasting Models written by Jing Xie and published by International Monetary Fund. This book was released on 2023-03-03 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many central banks and government agencies use nowcasting techniques to obtain policy relevant information about the business cycle. Existing nowcasting methods, however, have two critical shortcomings for this purpose. First, in contrast to machine-learning models, they do not provide much if any guidance on selecting the best explantory variables (both high- and low-frequency indicators) from the (typically) larger set of variables available to the nowcaster. Second, in addition to the selection of explanatory variables, the order of the autoregression and moving average terms to use in the baseline nowcasting regression is often set arbitrarily. This paper proposes a simple procedure that simultaneously selects the optimal indicators and ARIMA(p,q) terms for the baseline nowcasting regression. The proposed AS-ARIMAX (Adjusted Stepwise Autoregressive Moving Average methods with exogenous variables) approach significantly reduces out-of-sample root mean square error for nowcasts of real GDP of six countries, including India, Argentina, Australia, South Africa, the United Kingdom, and the United States.

Natural Time Analysis: The New View of Time, Part II

Natural Time Analysis: The New View of Time, Part II

Author: Panayiotis Varotsos

Publisher: Springer Nature

Published: 2023-06-17

Total Pages: 378

ISBN-13: 3031260066

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This monograph contains the advances achieved based on the content of our previous monograph published in 2011. In other words, the present monograph can be considered as "Part II" containing new results accomplished in the last decade. These were published in several reputed international journals based on the concept of natural time discussed in detail in our earlier monograph. The analysis in natural time enables the study of the dynamical evolution of a complex system and identifieswhen the system enters a critical stage. A wide range of applications are discussed, such as the cases of environmental extreme events-disasters and sudden cardiac death. More light is shed on changes of natural time features before major earthquakes like the 2011 M9 Tohoku earthquake in Japan and the 2017 M8.2 Chiapas earthquake in Mexico. Hence, natural time analysis plays a key role in predicting impending catastrophic events in general with a primary audienceResearchers and Academics in Physics, Earth Sciences, and Medicine.


Book Synopsis Natural Time Analysis: The New View of Time, Part II by : Panayiotis Varotsos

Download or read book Natural Time Analysis: The New View of Time, Part II written by Panayiotis Varotsos and published by Springer Nature. This book was released on 2023-06-17 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph contains the advances achieved based on the content of our previous monograph published in 2011. In other words, the present monograph can be considered as "Part II" containing new results accomplished in the last decade. These were published in several reputed international journals based on the concept of natural time discussed in detail in our earlier monograph. The analysis in natural time enables the study of the dynamical evolution of a complex system and identifieswhen the system enters a critical stage. A wide range of applications are discussed, such as the cases of environmental extreme events-disasters and sudden cardiac death. More light is shed on changes of natural time features before major earthquakes like the 2011 M9 Tohoku earthquake in Japan and the 2017 M8.2 Chiapas earthquake in Mexico. Hence, natural time analysis plays a key role in predicting impending catastrophic events in general with a primary audienceResearchers and Academics in Physics, Earth Sciences, and Medicine.

Floods and Landslides: Integrated Risk Assessment

Floods and Landslides: Integrated Risk Assessment

Author: Riccardo Casale

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 400

ISBN-13: 3642586090

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A review of such natural disasters as floods and landslides, highlighting the possibility of safe and correct land planning and management by means of a global approach to territory. Since the events deriving from slope and fluvial dynamics are commonly triggered by the same factor, occur at the same time and are closely related, this book analyses floods and slope stability phenomena as different aspects of the same dynamic system: the drainage basin.


Book Synopsis Floods and Landslides: Integrated Risk Assessment by : Riccardo Casale

Download or read book Floods and Landslides: Integrated Risk Assessment written by Riccardo Casale and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: A review of such natural disasters as floods and landslides, highlighting the possibility of safe and correct land planning and management by means of a global approach to territory. Since the events deriving from slope and fluvial dynamics are commonly triggered by the same factor, occur at the same time and are closely related, this book analyses floods and slope stability phenomena as different aspects of the same dynamic system: the drainage basin.

Monthly Weather Review

Monthly Weather Review

Author:

Publisher:

Published: 1993

Total Pages: 1084

ISBN-13:

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Book Synopsis Monthly Weather Review by :

Download or read book Monthly Weather Review written by and published by . This book was released on 1993 with total page 1084 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Nowcasting

Nowcasting

Author: K. A. Browning

Publisher:

Published: 1982

Total Pages: 282

ISBN-13:

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Book Synopsis Nowcasting by : K. A. Browning

Download or read book Nowcasting written by K. A. Browning and published by . This book was released on 1982 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: