Multilayer feedforward networks are universal approximators
Neural Networks
An overview of neural networks: early models to real world systems
An introduction to neural and electronic networks
An investigation of the use of feedforward neural networks for forecasting
An investigation of the use of feedforward neural networks for forecasting
Recognizing business cycle turning points by means of a neural network
Computational Economics
Genetic Algorithms in Search, Optimization and Machine Learning
Genetic Algorithms in Search, Optimization and Machine Learning
Time Series Analysis, Forecasting and Control
Time Series Analysis, Forecasting and Control
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This study examines possible existence of business cycle asymmetries in Canada, France, Japan, UK, and USA real GDP growth rates using neural networks nonlinearity tests and tests based on a number of nonlinear time series models. These tests are constructed using in-sample forecasts from artificial neural networks (ANN) as well as time series models.Our study results based on neural network tests show that there is statistically significant evidence of business cycle asymmetries in these industrialized countries. Similarly, our study results based on a number of time series models also show that business cycle asymmetries do prevail in these countries. So we are not able to evaluate the impact of monetary policy or any other shocks on GDP in any of these countries based on linear models.