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Neural Network Principles To Classify Economic Data

Author

Listed:
  • STEFAN Raluca-Mariana

    (Academy of Economic Studies)

  • SERBAN Mariuta

    (University of Pitesti)

Abstract

The increased globalization makes every country more and more responsible for its actions that are meant to support the price stability and the fiscal position sustainability in an unpredictable world. Decisions makers can provide the right solutions to overcome the latest global economic crisis by using methods of classifying the continuously growing amounts of digital economic data. The principles of neural networks are applied in order to classify a set of countries according to their statistical data for economic indicators provided by the European Committee. The results and performance of this classification technique is discussed in the final section of the paper.

Suggested Citation

  • STEFAN Raluca-Mariana & SERBAN Mariuta, 2012. "Neural Network Principles To Classify Economic Data," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 63(4-5), pages 223-233.
  • Handle: RePEc:blg:reveco:v:63.4-5:y:2012:i:4-5:p:223-233
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    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/RE%204-5-63-2012.pdf
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    More about this item

    Keywords

    neural networks; supervised learning; data classification; economic prosperity;

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • C45 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Neural Networks and Related Topics
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software

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