A Neural Learning Approach for a Data-Driven Nonlinear Error Correction Model

Table 4

Robustness analysis result.

Variables	Year	Best model
		In perspective of goodness of fit only	Take both goodness of fit and model complexity into consideration
Gold price as and US dollar index as	2021	Nonlinear ECM neural network with 1 and 5 nodes in first and second hidden layers, respectively	Nonlinear ECM neural network with 1 node in first and second hidden layers, respectively
	2020	Nonlinear ECM neural network with 1 node in first and second hidden layers, respectively	Linear ECM model
US dollar index as and gold price as	2021	Nonlinear ECM neural network with 1 node in first and second hidden layers, respectively	Nonlinear ECM neural network with 1 node in first and second hidden layers, respectively
	2020	Nonlinear ECM neural network with 5 and 3 nodes in first and second hidden layers, respectively	Nonlinear ECM neural network with 1 and 3 nodes in first and second hidden layers, respectively