Machine Learning for Econometrics and Related Topics

In the last decades, machine learning techniques – especially techniques of deep learning – led to numerous successes in many application areas, including economics. The use of machine learning in economics is the main focus of this book; however, the book also describes the use of more traditional econometric techniques. Applications include practically all major sectors of economics: agriculture, health (including the impact of Covid-19), manufacturing, trade, transportation, etc. Several papers analyze the effect of age, education, and gender on economy – and, more generally, issues of fairness and discrimination.

We hope that this volume will:

Preface.- An Invitation to Wasserstein Distance in Financial Risk Measures.- What Makes a Good Model?.- Quantifying Fairness and Discrimination in Predictive Models.- Slow-growing Trees.- Metrics on Probability Distributions Through Optimal Commuting Maps.- Using Machine Learning Methods to Estimate the Gender Wage Gap.- Forecasting Market Index of Stock Exchange of Thailand, Malaysia and Singapore with the Gaussian Process Regression Model.- The A Priori Procedure (APP) for Estimating Standardized Regression Coefficients in Multiple Linear Model with Skew Errors.- Why Rectified Linear Unit is Efficient in Machine Learning: One More Explanation.- A Possible Common Mechanism Behind Skew Normal Distributions in Economics and Hydraulic Fracturing-induced Seismicity.- Why Quantile Regression Works Well in Economics: A Partial Explanation.- Trade with Heterogeneous Firms, Distance, and Time: An Analysis of Latin American and the Caribbean (LAC) Manufacturing Firms.- Analysis and Prediction of Suitable Model for Coconut Production Estimates in South Indian States.- Portfolio Management of SET50 Stocks Using Deep Reinforcement Learning Methods.- Household Characteristics and the Pattern of Gambling, Alcohol and Tobacco Expenditures.- Effects of Household Income and Parental Absence on Investment in Child Education in Thailand: Evidence from Quantile-on-Quantile Approach.- The Spatial Spillover Effects of Transportation Infrastructure on Economic Development in China.- Analyzing the Survival Probability of Community Enterprise under the Situation of the COVID-19 Pandemic in Northern Thailand.- Bayesian Consideration for Trust in Ewom: Evidence from Vietnam.- An Application of Explainable Artificial Intelligence in Credit Scoring.- Assessing Strategies for Adaption to Survive the COVID-19 Situation of OTOP Operators in Thailand.- The Effects of Oil Price Changes on Inflation in Leading Crude Oil Importing Countries: An Application of Linear ARDL and Non-linear ARDI.- Contagion Effects Among Selected Asian Stock Markets during the COVID-19 Pandemic: A Dynamic Conditional Correlation Approach.- The Nexus of the Nikkei 225, Gold, and Crude Oil. Do They Have a Co-Movement in the Long Run? New Evidence for Cointegration from the Autoregressive Distributed Lag Bounds Test.- Competitiveness and Complementarity of Agricultural Products Between China and Vietnam on Short-term Analysis.- Does Contract Farming Improve Farmers' Income? The Case of Pineapple Farmers in Nong Khai and Loei, Thailand.- Implications of Aging Population and Health Spending for Thai Economic Growth.- Portfolio Diversification Using Enhanced Markowitz Model with Traditional Asset Classes and Cryptocurrencies.- ESG Ratings and Stock Mispricing: A Moderated Mediation Model.- The Role of Socio-demographics and Aging Society on the Change of Agricultural Labor in ASEAN.- Prediction of Financial Contagion and Spillover Effects of the US Financial Crisis Using Google Index.- The Impact of China-United States Trade War on the Relationship among the Exchange Rates: the Case of China, Korea, and Japan.