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Machine Learning: New Tools for Economic Analysis

Author

Listed:
  • Katsuyuki Tanaka

    (Center for Computational Social Science and Research Institute for Economics and Business Administration, Kobe University, JAPAN)

  • Takashi Kamihigashi

    (Center for Computational Social Science and Research Institute for Economics and Business Administration, Kobe University, JAPAN)

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.

Suggested Citation

  • Katsuyuki Tanaka & Takashi Kamihigashi, 2022. "Machine Learning: New Tools for Economic Analysis," Discussion Paper Series DP2022-22, Research Institute for Economics & Business Administration, Kobe University.
    • Handle: RePEc:kob:dpaper:dp2022-22
    as

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    More about this item

    Keywords

    Machine learning; Data science;

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics

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