Document Type
Discussion Paper
Publication Date
6-28-2026
CFDP Number
2539
CFDP Pages
129
Abstract
The "deep learning revolution" has led to remarkable success of neural networks in applications across a wide range of fields, such as computer vision, speech recognition, natural language processing, code generation, protein structure prediction, image and video generation, and dynamic control. This review introduces neural networks to economists. Recent advances and challenges in approximation theory, neural network architecture, computation, econometric theory and practice are presented. Finally, we survey the rapidly evolving applications of modern neural networks and Large Language Models in economic research.
Recommended Citation
Chen, Xiaohong; Hoderlein, Luis; and Lieber, Jonas, "Neural Networks in Economics: A Selective Review" (2026). Cowles Foundation Discussion Papers. 2965.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/2965