Related papers: Modelling the transition from a socialist to capit…
A microeconomic model is developed, which accurately predicts the shape of personal income distribution (PID) in the United States and the evolution of the shape over time. The underlying concept is borrowed from geo-mechanics and thus can…
The goal of this research is to uncover the channels through which research and development (R&D) impacts economic growth in developing countries. The study employed nine variables from three broader categories in the World Economic Forum…
We develop a Bayesian state-space model for analyzing the dynamic evolution of income distributions using grouped income data. The model combines the generalized beta distribution of the second kind (GB2) with latent time-varying parameters…
The economy globalization measure problem is discussed. Four macroeconomic indices of twenty among the "richest" countries are examined. Four types of "distances" are calculated.Two types of networks are next constructed for each distance…
Understanding how climate and innovation policies perform during socio-technical transitions remains a central challenge in innovation studies. Empirical analyses of the relationship between economic growth and carbon emissions continue to…
The breaching of planetary boundaries and the potentially catastrophic consequences of climate change are leading researchers to question the endless pursuit of economic growth. Several macroeconomic modelling studies have now examined…
We propose in this work a kinetic wealth-exchange model of economic growth by introducing saving as a non consumed fraction of production. In this new model, which starts also from microeconomic arguments, it is found that economic…
With the rapid development of artificial intelligence (AI) technology, socio-economic systems are entering a new stage of "human-AI co-creation." Building upon a previously established multi-level intelligent agent economic model, this…
Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of…
The GDP growth of national economies is modelled by the logistic function. Applying it on the GDP data of the World Bank till the year 2020, we forecast the outcome of the competitive GDP growth of Japan, Germany, UK and India, all of whose…
The 2030 Agenda for Sustainable Development of the United Nations outlines 17 goals as global challenges for countries of the world to address in their development. However, the progress of countries towards these goals has been much slower…
We apply the concept of Rayleigh-Jeans thermalization of classical fields for a description of the world Gross Domestic Product (GDP) distribution over countries. The thermalization appears due to a variety of interactions between countries…
We estimate cumulative CO2 emissions during the period 2000 to 2050 from developed and developing countries based on the empirical relationship between CO2 per capita emissions (due to fossil fuel combustion and cement production) and…
The process of European integration resulted in a marked increase in transnational economic flows, yet regional inequalities along many developmental indicators remain. We analyze the unevenness of European economies with respect to the…
We propose a class of evolutionary models that involves an arbitrary exchangeable process as the breeding process and different selection schemes. In those models, a new genome is born according to the breeding process, and then a genome is…
The parameters of a discrete stationary Markov model are transition probabilities between states. Traditionally, data consist in sequences of observed states for a given number of individuals over the whole observation period. In such a…
The distribution of money is analysed in connection with the Boltzmann distribution of energy in the degenerate states of molecules. Plots of the population density of income distribution for various countries are well reproduced by a Gamma…
This paper aims to explore the application of machine learning in forecasting Chinese macroeconomic variables. Specifically, it employs various machine learning models to predict the quarterly real GDP growth of China, and analyzes the…
Labor share, the fraction of economic output accrued as wages, is inexplicably declining in industrialized countries. Whilst numerous prior works attempt to explain the decline via economic factors, our novel approach links the decline to…
In this study, we analyze the relationship between human population growth and economic dynamics. To do so, we present a modified version of the Verhulst model and the Solow model, which together simulate population dynamics and the role of…