Colombian paper recommends using neural networks in yield curve forecasts
Neural networks - a method of processing that mirrors the human brain - can help forecast yield curves, according to a working paper published by the Central Bank of Colombia today.
The paper - Forecasting Latin-American yield curves: An artificial neural network approach, by Daniel Vela - explores the predictive power of different methodologies used to forecast yield curves in Colombia, Mexico, Peru and Chile.
Neural networks, characterised by a high degree of interconnection, are "an analogy
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