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gingado: a machine learning library focused on economics and finance

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  • Douglas Kiarelly Godoy de Araujo

Abstract

gingado is an open source Python library that offers a variety of convenience functions and objects to support usage of machine learning in economics research. It is designed to be compatible with widely used machine learning libraries. gingado facilitates augmenting user datasets with relevant data directly obtained from official sources by leveraging the SDMX data and metadata sharing protocol. The library also offers a benchmarking object that creates a random forest with a reasonably good performance out-of-the-box and, if provided with candidate models, retains the one with the best performance. gingado also includes methods to help with machine learning model documentation, including ethical considerations. Further, gingado provides a flexible simulatation of panel datasets with a variety of non-linear causal treatment effects, to support causal model prototyping and benchmarking. The library is under active development and new functionalities are periodically added or improved.

Suggested Citation

  • Douglas Kiarelly Godoy de Araujo, 2023. "gingado: a machine learning library focused on economics and finance," BIS Working Papers 1122, Bank for International Settlements.
    • Handle: RePEc:bis:biswps:1122
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    More about this item

    Keywords

    machine learning; open source; data access; documentation;
    All these keywords.

    JEL classification:

    • C87 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Econometric Software
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access

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