alexa Abstract | Forecasting of Taiwans Gross Domestic Product using the Novel Nonlinear Grey Bernoulli Model with ANN Error Correction
ISSN: 2375-4389

Journal of Global Economics
Open Access

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Research Article Open Access

Abstract

Nonlinear Grey Bernoulli Model is proposed to enhance the prediction accuracy. In this study, artificial neural network (ANN) is used to modify the residual error of NGBM. Then, ANN error plus original forecasted value is a new estimated value. The newly proposed method termed NGBM (1,1) with ANN error correction is used to forecast Taiwan’s gross domestic product (GDP). The results show the proposed method is more accurate than NGBM and is proven to be effective in forecasting.

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Author(s): Chen CI and Hsin PH

Keywords

Grey forecasting , Artificial neural network , Gross domestic product , Nonlinear Grey Bernoulli Model, Global Market, Socio Economics Status, Economic Growth, Gross Domestic Product ?GDP, Economic Policies, E-Governance, Micro Economics, Financial Crisis, Social Economics, Business Management, Stock Market, Trading, Foreign Exchange, Economic Resources, Banking Research, Global Accounting, E-banking, World banking

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