Econometrics of Big Data

FWF Young Independent Researcher Groups Fund WIFO Economist Philipp Piribauer
In an interdisciplinary research project, WIFO economist Philipp Piribauer is developing forward-looking statistical methods for the analysis of large amounts of data in cooperation with young researchers from the Vienna University of Economics and Business Administration, the Vienna University of Technology and the University of Salzburg. The project is financed by the FWF Young Independent Researcher Groups for a period of four years.

The analysis methods developed in the disciplines of economics, computer science and statistics are subsequently applied to current issues in the economic and social sciences. In recent years, the availability of socio-economic data, which are characterised by enormous complexity and high dimensionality, has increased enormously. However, common econometric methods are often unable to cope with these large amounts of data. The increasing complexity of the available data requires new statistical methods that enable researchers to fully exploit the information content of the constantly growing amounts of data.

In cooperation with the Austrian Academy of Sciences (ÖAW), the Austrian Science Fund FWF supports excellent young researchers. "Science and research are increasingly taking place in teams that work across institutions and disciplines", emphasises FWF President Klement Tockner, adding: "With the FWF Young Independent Researcher Groups, we are daring new research approaches and unconventional research cooperations in order to address challenging topics and answer particularly exciting questions."

"The FWF Young Independent Researcher Groups stand for pioneering achievements in basic research through interdisciplinary cooperation between the best young minds in Austria", says Anton Zeilinger, President of the Austrian Academy of Sciences. "With this funding programme, we want to open up new research opportunities for young talents in our country. At the same time, the exchange across disciplinary boundaries opens up completely new perspectives and solutions to problems. The projects selected by an international jury make this high future potential impressively clear", Zeilinger continued.