An Economic Model Processing Noise Method Based on Clustering in the Post-Epidemic Era

DOI

10.2991/978-94-6463-408-2_24How to use a DOI?

Keywords

Macroeconomics; Outlier; TOPSIS; K-means; Regression

Abstract

Since the 21st century, the world economic situation has undergone complex changes. Macroeconomic forecasting has become a hot topic of research for many scholars. An accurate macroeconomic forecast is of great significance to the country, enterprises, and individuals. However, in the post-pandemic era, some scholars have simply chosen all datasets for predicting macroeconomics. But, as the impact of the epidemic gradually decreases and the macroeconomic situation gradually returns to normal, the economic data on the impact of the epidemic is noisy.

The article uses TOPSIS scoring to discuss the extent to which the UK’s macroeconomy has been affected after the outbreak of the epidemic, quantify the impact of the epidemic on the economic sector, and cluster the affected and unaffected intervals using clustering algorithms. We find that the period from Q1 2020 to Q1 2022 is the range of the impact of COVID-19 on the macro-economy. Moreover, the second quarter of 2020 is the period when COVID-19 has the greatest impact on the macro-economy. And the data after Q1 2022 is in the low-impact area, which is the post-pandemic period.

At the same time, we compared macroeconomic volume prediction methods using different datasets. When the impact of the epidemic on the economic volume was significant and intuitive, the model that excluded data from the epidemic period showed a significant performance improvement compared to the model with a complete dataset. When the impact of the epidemic on the economic quantity is not intuitive, removing data from the epidemic period will also improve the effectiveness of the model.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Tengyao Tu
PY  - 2024
DA  - 2024/05/07
TI  - An Economic Model Processing Noise Method Based on Clustering in the Post-Epidemic Era
BT  - Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024)
PB  - Atlantis Press
SP  - 202
EP  - 213
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-408-2_24
DO  - 10.2991/978-94-6463-408-2_24
ID  - Tu2024
ER  -