Related papers: Bilateral multifactor CES general equilibrium with…
Sector specific multifactor CES elasticity of substitution and the corresponding productivity growths are jointly measured by regressing the growths of factor-wise cost shares against the growths of factor prices. We use linked input-output…
By fully accounting for the distinct tariff regimes levied on imported meat, we estimate substitution elasticities of Japan's two-stage import aggregation functions for beef, chicken and pork. While the regression analysis crucially depends…
We model sectoral production by serially nesting (cascading) binary compounding processes. The sequence of processes is discovered in a self-similar hierarchical structure stylized in macroscopic input-output transactions. The feedback…
Based on a multisector general equilibrium framework, we show that the sectoral elasticity of substitution plays the key role in the evolution of asymmetric tails of macroeconomic fluctuations and the establishment of robustness against…
The availability of multidimensional economic datasets has grown significantly in recent years. An example is bilateral trade values across goods among countries, comprising three dimensions -- importing countries, exporting countries, and…
This research employs quantitative techniques interpreted through relevant economic theories to analyze a proposed U.S. "Discounted Reciprocal Tariff" structure. Statistical modeling (linear regression) quantifies the policy's consistent…
In this paper we analyze the bipartite network of countries and products from UN data on country production. We define the country-country and product-product projected networks and introduce a novel method of filtering information based on…
We present a new metric estimating fitness of countries and complexity of products by exploiting a non-linear non-homogeneous map applied to the publicly available information on the goods exported by a country. The non homogeneous terms…
Two network measures known as the Economic Complexity Index (ECI) and Product Complexity Index (PCI) have provided important insights into patterns of economic development. We show that the ECI and PCI are equivalent to a spectral…
The multifractal behavior for tick data of prices is investigated in Korean financial market. Using the rescaled range analysis(R/S analysis), we show the multifractal nature of returns for the won-dollar exchange rate and the KOSPI. We…
This paper studies inter-firm heterogeneity in production. Unlike much of the existing research, which primarily addresses heterogeneous production through unobserved fixed effects, our approach also focuses on differences in factors'…
Analyzing real data on international trade covering the time interval 1950-2000, we show that in each year over the analyzed period the network is a typical representative of the ensemble of maximally random weighted networks, whose…
This paper develops a new generation of the Keynesian Intertemporal Synthesis (KIS) Model, a macroeconomic framework designed to reconcile the empirical strengths of the Post-Keynesian (PK) and New Keynesian (NK) traditions. The central…
We investigate density fluctuations in a coherent ensemble of interacting fermionic atoms. Adapting the concept of full counting statistics, well-known from quantum optics and mesoscopic electron transport, we study second-order as well as…
In this paper, by invoking the coupling approach, we establish exponential ergodicity under the $L^1 $-Wasserstein distance for two-factor affine processes. The method employed herein is universal in a certain sense so that it is applicable…
We introduce new estimators of the inhomogeneous $K$-function and the pair correlation function of a spatial point process as well as the cross $K$-function and the cross pair correlation function of a bivariate spatial point process under…
This study examines the adaptive market hypothesis (AMH) in Japanese stock markets (TOPIX and TSE2). In particular, we measure the degree of market efficiency by using a time-varying model approach. The empirical results show that (1) the…
Economic complexity - a group of dimensionality-reduction methods that apply network science to trade data - represented a paradigm shift in development economics towards materializing the once-intangible concept of capabilities as…
The exchange or geometric cluster algorithm allows us to define a variance reduced estimator of the connected two-point function in the presence of a broken Z_2-symmetry. We present first numerical tests for the improved Blume-Capel model…
This paper continues the study, initiated by Cole and Fleischer, of the behavior of a tatonnement price update rule in Ongoing Fisher Markets. The prior work showed fast convergence toward an equilibrium when the goods satisfied the weak…