Related papers: Real GDP per capita in developed countries
In this paper, the annual growth rate of electricity consumption in China in the first 15 years of the 21st century is modeled using multiple linear regression. Historical data and trends of gross domestic product, fixed assets investment…
We test the international applicability of Friedman s famous plucking theory of the business cycle in 12 advanced economies between 1970 and 2021. We find that in countries where labour markets are flexible (Australia, Canada, United…
Data describing historical economic growth are analysed. Included in the analysis is the world and regional economic growth. The analysis demonstrates that historical economic growth had a natural tendency to follow hyperbolic…
Probability distributions of money, income, and energy consumption per capita are studied for ensembles of economic agents. The principle of entropy maximization for partitioning of a limited resource gives exponential distributions for the…
A single social phenomenon (such as crime, unemployment or birth rate) can be observed through temporal series corresponding to units at different levels (cities, regions, countries...). Units at a given local level may follow a collective…
A new algorithm of the analysis of correlation among economy time series is proposed. The algorithm is based on the power law classification scheme (PLCS) followed by the analysis of the network on the percolation threshold (NPT). The…
The paper applies some recent developments of network analysis in order to perform a comparative study of EU countries in relation with the fluctuations of some macroeconomic indicators. The statistical distances between countries,…
In 2012 the world's population exceeded 7 billion, and since 2008 the number of individuals living in urban areas has surpassed that of rural areas. This is the result of an overall increase of life expectancy in many countries that has…
The empirical literature on the relationship between income inequality and economic growth has produced highly heterogeneous and often conflicting results. This paper investigates the sources of this heterogeneity using a meta-analytic…
The paper analyzes the current state of the world economy and offers a short-term forecast of its development. Our analysis of log-periodic oscillations in the DJIA dynamics suggests that in the second half of 2017 the United States and…
Crime rates per capita are used virtually everywhere to rank and compare cities. However, their usage relies on a strong linear assumption that crime increases at the same pace as the number of people in a region. In this paper, we…
Galor discovered many mysteries of the growth process. He lists them in his Unified Growth Theory and wonders how they can be explained. Close inspection of his mysteries reveals that they are of his own creation. They do not exist. He…
Behavioural finance offers a valuable framework for examining foreign exchange (FX) market dynamics, including puzzles such as excess volatility and fat-tailed distributions. Yet, when it comes to their interaction with the `real' side of…
We review models of compositional growth, which were introduced to explain the growth statistics of various quantities ranging from firm sizes to GDP. In these models, entities are decomposed into units that grow independently. Thus, the…
Do governments adjust budgetary policy to rising public debt, precluding fiscal unsustainability? Using budget data for 52 industrial and emerging economies since 1990, we apply panel methods accounting for cross-sectional dependence and…
During the last decades particular effort has been directed towards understanding and predicting the relevant state of the business cycle with the objective of decomposing permanent shocks from those having only a transitory impact on real…
Economic growth results from countries' accumulation of organizational and technological capabilities. The Economic and Product Complexity Indices, introduced as an attempt to measure these capabilities from a country's basket of exported…
Growth of the world population and the world economic growth were hyperbolic in the past 2,000,000 years. Recently, from around 1950, they started to be diverted to slower trajectories but they are still close to the historical hyperbolic…
This paper proposes a two blocks and three regions economic geography model that can account for the most salient stylized facts experienced by Eastern European transition economies during the period 1990 2005. In contrast to the existing…
This article is a supplement to my main contribution to the Routledge Handbook of Complexity Economics (2023). On the basis of three recent papers, it presents an unconventional perspective on economic inequality from a statistical physics…