CORDIS Project
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The STEADY project develops advanced econometric models for analyzing complex economic data structures known as tensors. It aims to enhance forecasting and policy evaluation for central banks and financial regulators by addressing the dynamic nature of economic conditions.
The last decade has been characterised by a data revolution.
In economics and elsewhere (physics, machine learning, biology, imaging, statistics) ever more data structures emerge that require new models suited for analysing multidimensional arrays of data, so called tensors (e.g., data of firm exposures (dimension 1) to other firms (dim.2) over time (dim.3) in different markets (dim.4)).
Adequate econometric models for such data are currently largely lacking.
They either simplify the problem to…
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