A new hybrid metaheuristic method based on biogeography-based optimization and particle swarm optimization algorithm to estimate money demand in Iran

Money demand is one of the most important economic variables which are a critical component in appointing and choosing appropriate monetary policy, because it determines the transmission of policy-driven change in monetary aggregates to the real sector. In this paper, the data of economic indicators in Iran are presented for estimating the money demand using biogeography-based optimization (BBO) algorithm, particle swarm optimization (PSO) algorithm, and a new hybrid metaheuristic method based on biogeography-based optimization and particle swarm optimization algorithm (BBPSO). The data are used in two forms (i.e. linear and exponential) to estimate money demand values based on true liquidity, Consumer price index, GDP, lending interest rate, Inflation, and official exchange rate. The available data are partly used for finding optimal or near-optimal values of weighting parameters (1974–2013) and partly for testing the models (2014–2018). The performance of methods is evaluated using mean squared error (MSE), root mean squared error (RMSE), and mean absolute error (MAE). According to the simulation results, the proposed method (i.e. BBPSO) outperformed the other models. The findings proved that the recommended method was an appropriate tool for effective money demand prediction in Iran. These data were the result of a comprehensive look at the most influential factors for money market demand. With this method, the demand side of this market was clearly defined. Along with other markets, the consequences of economic policy could be analyzed and predicted.

• The article provides a method for observing the effect of economic scenarios on the money market and the analysis obtained by this proposed method allows experts, public sector economics, and monetary economist to see a clearer explanation of the country's liquidity plan.

• The method presented in this article can be beneficial for the policy makers and monetary authorities during their decision-making process.

A novel hybrid method based on Cuckoo optimization algorithm and artificial neural network to forecast world's carbon dioxide emission

This paper deals with the global energy consumption to forecast future projections based on primary energy, global oil, coal and natural gas consumption using a hybrid Cuckoo optimization algorithm and information of British Petroleum Company plc and BP Amoco plc. The Artificial Neural Network (ANN) has some significant disadvantages, such as training slowly, easiness to fall into local optimal point, and sensitivity of the initial weights and bias. To overcome the shortcomings, an improved ANN structure, that is optimized by the Cuckoo Optimization Algorithm (COA), is proposed in this paper (COANN). The performance of the COANN is evaluated with Mean Squared Error (MSE), Root Mean Squared Error (RMSE), Mean Absolute Error (MAE), and Correlation Coefficient (CC) between the output of the model and the actual dataset. Finally, CO₂ emission in the world by 2050 is forecasted using COANN. The findings showed that COANN is a helpful and reliable tool for monitoring global warming. This proposed method will assist experts, policy planners and researchers who study greenhouse gases.•

The method can be used as a potential tool for policymakers and governments to make policy on global warming monitoring and control.

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The proposed method can play a key role in the global climate changes policies and can have a significant impact on the efficiency or inefficiency of government's intervention policies.