Related papers: Field Theory of Macroeconomics
We introduce a simple model of economy, where the time evolution is described by an equation capturing both exchange between individuals and random speculative trading, in such a way that the fundamental symmetry of the economy under an…
Since the advent of inflation, several theorems have been proven suggesting that although inflation can (and generically does) continue eternally into the future, it cannot be extended eternally into the past to create a ``steady-state''…
Functions or 'functionings' enable to give a structure to any activity and their combinations constitute the capabilities which characterize economic assets such as work utility. The basic law of supply and demand naturally emerges from…
Quantum theory is used to model secondary financial markets. Contrary to stochastic descriptions, the formalism emphasizes the importance of trading in determining the value of a security. All possible realizations of investors holding…
Many socio-economic systems require positive economic growth rates to function properly. Given uncertainty about future growth rates and increasing evidence that economic growth is a driver of social and environmental crises, these growth…
The key idea of this model is that firms are the result of an evolutionary process. Based on demand and supply considerations the evolutionary model presented here derives explicitly Gibrat's law of proportionate effects as the result of…
An alternative inflationary model is proposed predicated upon a consideration of the form of the uncertainty principle in a curved background spacetime. An argument is presented suggesting a possible curvature dependence in the correct…
This paper fundamentally reformulates economic and financial theory to include electronic currencies. The valuation of the electronic currencies will be based on macroeconomic theory and the fundamental equation of monetary policy, not the…
The recently-developed techniques of Noether analysis of the quantum-group spacetime symmetries of some noncommutative field theories rely on the {\it ad hoc} introduction of some peculiar auxiliary transformation parameters, which appear…
We introduce a mean-field type approximation for description of company's income statistics. Utilizing huge company data we show that a discrete version of Langevin equation with additive and multiplicative noises can appropriately describe…
In the context of a large class of stochastic processes used to describe the dynamics of wealth growth, we prove a set of inequalities establishing necessary and sufficient conditions in order to avoid infinite wealth concentration. These…
This paper suggests that business cycles may be a manifestation of coupled real economy and stock market dynamics and describes a mechanism that can generate economic fluctuations consistent with observed business cycles. To this end, we…
The kinetic field theory is developed without assumptions of statistical homogeneity and isotropy. In a solvable toy model with short-ranged interactions, we compare first-order perturbation theory to an iterated mean-field approximation…
Quantum theory is formulated as the only consistent way to manipulate probability amplitudes. The crucial ingredient is a consistency constraint: if there are two different ways to compute an amplitude the two answers must agree. This…
We develop a tractable macroeconomic model that captures dynamic behaviors across multiple timescales, including business cycles. The model is anchored in a dynamic capital demand framework reflecting an interactions-based process whereby…
A simple theoretical model of scalar fields in one spatial dimension with internal symmetry is considered. Assuming the existence of localized classical field configurations, the Schr\"{o}dinger picture is used to describe their quantum…
Accounting frameworks follow stipulations of existing Accounting Theories. This exploratory research sets out to trace the evolution of accounting theories of Charge and Discharge Syndrome and the Corollary of Double Entry. Furthermore, it…
It is shown that the generating function for tree graphs in the "in-in" formalism may be calculated by solving the classical equations of motion subject to certain constraints. This theorem is illustrated by application to the evolution of…
We consider a quantum theory based on a Galois field. In this approach infinities cannot exist, the cosmological constant problem does not arise, and one irreducible representation (IR) of the symmetry algebra splits into independent IRs…
Economic growth depends on capital investments and on investments in education and innovation. The model introduced here will specifiy aggregate output as determined by aggregate supply of capital and education investment. After formulating…