Author(s)

Qizheng Wu

Corresponding Author

Qizheng Wu

Abstract

With the increasing importance of macroeconomic forecasting, high-bit data factor models have received widespread attention as predictive tools. Models have received widespread attention as predictive tools. Although high-bit data contains rich macroeconomic information, traditional prediction models often find it difficult to effectively handle its high dimensionality and complexity. Based on this, this paper delves into the application of high-bit data factor models in macroeconomic forecasting. Firstly, the challenges of macroeconomic forecasting and the importance of high-bit data were analyzed; Secondly, the theoretical foundation and key technologies of factor models were introduced; Then, it elaborates on how to construct and apply high-bit data factor models for macroeconomic forecasting, and explores their potential value in policy evaluation. Research has found that the proposed high-bit data factor model has significant advantages in prediction accuracy and efficiency, and plays an important role in improving the accuracy of macroeconomic forecasting and guiding policy formulation. This study not only provides a new perspective and method for the application of high-bit data in macroeconomic forecasting but also provides a scientific basis for relevant policy decisions.

Keywords

Macroeconomic forecasting; High-bit data; Factor model; Model construction and application