Related papers: Field Theory of Macroeconomics
A mathematically rigorous Hamiltonian formulation for classical and quantum field theories is given. New results include clarifications of the structure of linear fields, and a plausible formulation for nonlinear fields. Many mathematical…
We study a nonlinear system of partial differential equations arising in macroeconomics which utilizes a mean field approximation. This system together with the corresponding data, subject to two moment constraints, is a model for debt and…
In fields that are mainly nonexperimental, such as economics and finance, it is inescapable to compute test statistics and confidence regions that are not probabilistically independent from previously examined data. The Bayesian and…
The fundamental purpose of the present research article is to introduce the basic principles of Dimensional Analysis in the context of the neoclassical economic theory, in order to apply such principles to the fundamental relations that…
Econophysics, is based on the premise that some ideas and methods from physics can be applied to economic situations. We intend to show in this paper how a physics concept such as entropy can be applied to an economic problem. In so doing,…
Classical field theory is considered as a theory of unparametrized surfaces embedded in a configuration space, which accommodates, in a symmetric way, spacetime positions and field values. Dynamics is defined via the (Hamiltonian)…
We show how kinetic theory, the statistics of classical particles obeying Newtonian dynamics, can be formulated as a field theory. The field theory can be organized to produce a self-consistent perturbation theory expansion in an effective…
For simple inflationary models, we provide a consistent and complete scheme by which the macro-physical details of early universe inflation may be determined explicitly from the underlying micro-physical theory. We examine inflationary…
The Macroscopic Fluctuating Theory is presented from a practical and self consistent point of view. We take as starting point the assumption that a system at a mesoscopic scale is described by a field $\phi(x,t)$ that evolves by a Langevin…
The correctness of Harrods model in the differential form is studied. The inadequacy of exponential growth of economy is shown; an alternative result is obtained. By example of Phillips model, an approach to correction of macroeconomic…
We study the effective field theory of inflation, i.e. the most general theory describing the fluctuations around a quasi de Sitter background, in the case of single field models. The scalar mode can be eaten by the metric by going to…
For a field theory that is invariant under diffeomorphisms there is a subtle interplay between symmetries, conservation laws and the phase space of the theory. The natural language for describing these ideas is that of differential forms…
Many economic theories have been introduced over the course of history to articulate our understanding of the economy. Classical theories by Adam Smith and David Ricardo's Comparative Advantage have been foundational for the last century's…
Nonlinear field theories can be used to study both standard physics questions, or to study questions such as the emergence of order and complexity. These theories are generally derived from the symmetries of a given problem and the…
Accuracy of economic theories and efficiency of economic policy strictly depend on the choice of the economic variables and processes mostly liable for description of economic reality. That states the general problem of assessment of any…
The Macroscopic Fluctuation Theory is an effective framework to describe transports and their fluctuations in classical out-of-equilibrium diffusive systems. Whether the Macroscopic Fluctuation Theory may be extended to the quantum realm…
The correctness of Harrods model in the differential form is studied. The inadequacy of exponential growth of economy is shown; an alternative result is obtained. By example of Phillips model, an approach to correction of macroeconomic…
The ordinary formalism for classical field theory is applied to dynamical group field theories. Focusing first on a local group field theory over one copy of SU(2) and, then, on more involved nonlocal theories (colored and non colored)…
We consider the randomness of market trade as the origin of price and return stochasticity. We look at time series of trade values and volumes as random variables during the averaging interval {\Delta} and describe the dependences of…
Mathematical method based on a direct or indirect analysis of growth rates is described. It is shown how simple assumptions and a relatively easy analysis can be used to describe mathematically complicated trends and to predict growth. Only…