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The role of the emu in forecasting GDP growth
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This paper aims to gain insight in to how a membership in the European Monetary Union could help in GDP growth forecasts. It will attempt to answer this question using panel data, a Fixed Effects model, and an Elastic Net model. In the end, it concludes that an EMU membership has a positive indirect impact on GDP growth through lower effective nominal exchange rate volatility and better institutional quality, and a negative impact on growth through a third unidentified channel. However, the overall impact of being a part of the EMU appears to be neutral.
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Machine learning Econonomic growth Emu Panel data Fixed effects