Related papers: A Simple Measure of Economic Complexity
National statistical systems are the enterprises tasked with collecting, validating and reporting societal attributes. These data serve many purposes - they allow governments to improve services, economic actors to traverse markets, and…
General equilibrium macroeconomic models are a core tool used by policymakers to understand a nation's economy. They represent the economy as a collection of forward-looking actors whose behaviours combine, possibly with stochastic effects,…
This paper evaluates the dynamic response of economic activity to shocks in uncertainty as percieved by agents.The study focuses on the comparison between the perception of economic uncertainty by manufacturers and consumers.Since…
We review several statistical complexity measures proposed over the last decade and a half as general indicators of structure or correlation. Recently, Lopez-Ruiz, Mancini, and Calbet [Phys. Lett. A 209 (1995) 321] introduced another…
As the digital economy grows increasingly intangible, traditional productivity measures struggle to capture the true economic impact of artificial intelligence (AI). AI systems capable of cognitive work significantly enhance productivity,…
This work introduces a complexity measure which addresses some conflicting issues between existing ones by using a new principle - measuring the average amount of symmetry broken by an object. It attributes low (although different)…
Entropy is being used in physics, mathematics, informatics and in related areas to describe equilibration, dissipation, maximal probability states and optimal compression of information. The Gini index on the other hand is an established…
Quantifying the "capability" of a manufacturing process is an important initial step in any quality improvement program. Capability is usually defined in dictionaries as "the ability to carry out a task, to achieve an objective". Process…
In economic systems, the mix of products that countries make or export has been shown to be a strong leading indicator of economic growth. Hence, methods to characterize and predict the structure of the network connecting countries to the…
The era of technological change entails complex patterns of changes in wages and employment. We develop a unified framework to evaluate the effects of capital-embodied technological change on, as well as the contributions of factor inputs…
The complex software systems developed nowadays require assessing their quality and proneness to errors. Reducing code complexity is a never-ending problem, especially in today's fast pace of software systems development. Therefore, the…
Diversity is a fundamental feature of ecosystems, even when the concept of ecosystem is extended to sociology or economics. Diversity can be intended as the count of different items, animals, or, more generally, interactions. There are two…
Every nation prioritizes the inclusive economic growth and development of all regions. However, we observe that economic activities are clustered in space, which results in a disparity in per-capita income among different regions. A…
The CD index is a widely used measure of disruptive inventions. Most studies compute it using USPTO data. This creates a puzzle because the US appears less disruptive than European and Asian countries. We show that this largely stems from…
Societal complexity may be at a historical peak. Distinct from entropy, complexity tends to rise as systems move away from order, crest at an intermediate state, and decline as entropy continues increasing. The use of a thermodynamic…
The worldwide trade network has been widely studied through different data sets and network representations with a view to better understanding interactions among countries and products. Here we investigate international trade through the…
Recent work has shown that a country's productive structure constrains its level of economic growth and income inequality. Here, we compare the productive structure of countries in Latin America and the Caribbean (LAC) with that of China…
There are clear benefits associated with a particular consumer choice for many current markets. For example, as we consider here, some products might carry environmental or `green' benefits. Some consumers might value these benefits while…
Entropy governs molecular self-assembly, phase transitions, and material stability, yet remains challenging to quantify and directly control in molecular systems. Here, we demonstrate that the computable information density (CID), a data…
Economies are fundamentally complex and becoming more so, but the new discipline of data science-which combines programming, statistics, and domain knowledge-can help cut through that complexity, potentially with productivity benefits to…