At a 2017 IMF symposium, a panelist detailed how traditional economic statistics fall short due to noise and misalignment. By drawing analogies to modern machine learning, the article shows how big data and flexible modeling can improve insights. It presents an analytical case using cross-validation techniques, as reported by braddelong.substack.com.
Q&A
- What is nonparametric regression?
- Why are official statistics limited?
- What role does big data play?
