Related papers: Improving the Economic Complexity Index
We use generative AI to extract managerial expectations about their economic outlook from 120,000+ corporate conference call transcripts. The resulting AI Economy Score predicts GDP growth, production, and employment up to 10 quarters…
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 economy in the modern world is greatly influenced by artificial intelligence (AI). This paper aims to determine the impact of AI quantitative relationships on the country's economic parameters, including GDP per Capita. Historical data…
The drastic changes in the global economy, geopolitical conditions, and disruptions such as the COVID-19 pandemic have impacted the cost of living and quality of life. It is important to understand the long-term nature of the cost of living…
In this paper we offer a way to measure the knowledge base of an economy in terms of probabilistic entropy. This measure, we hypothesize, is an indication of the extent to which a system, including the economic system, self-organizes. In a…
A good process model is expected not only to reflect the behavior of the process, but also to be as easy to read and understand as possible. Because preferences vary across different applications, numerous measures provide ways to reflect…
Economic growth is measured as the rate of relative change in gross domestic product (GDP) per capita. Yet, when incomes follow random multiplicative growth, the ensemble-average (GDP per capita) growth rate is higher than the time-average…
We propose to examine the predictability and the complexity characteristics of the Standard&Poor500 dynamics behaviors in a coarse-grained way using the symbolic dynamics method and under the prism of the Information theory through the…
This paper develops a unified framework for evaluating the optimal degree of task automation. Moving beyond binary automate-or-not assessments, we model automation intensity as a continuous choice in which firms minimize costs by selecting…
The concept of communicability is introduced for complex socio-economic networks. The communicability function expresses how an impact propagates from one place to another in the network. This function is used to define unambiguously the…
GDP is a vital measure of a country's economic health, reflecting the total value of goods and services produced. Forecasting GDP growth is essential for economic planning, as it helps governments, businesses, and investors anticipate…
Product diversity, which is highly important in economic systems, has been highlighted by recent studies on international trade. We found an empirical pattern, designated as the "S-shaped curve", that models the relationship between…
Software implements a significant proportion of functionality in factory automation. Thus, efficient development and the reuse of software parts, so-called units, enhance competitiveness. Thereby, complex control software units are more…
Corporate responsibility turns on notions of corporate \textit{mens rea}, traditionally imputed from human agents. Yet these assumptions are under challenge as generative AI increasingly mediates enterprise decision-making. Building on the…
It is crucial that societies are informed on the risks of impoverished ecosystem health for their well-being. For this purpose, Ecological Integrity (EI) is a useful concept that seeks to capture the complex nature of ecosystems and their…
Economies grow by upgrading the type of products they produce and export. The technology, capital, institutions and skills needed to make such new products are more easily adapted from some products than others. We study the network of…
Can trade integration induce product innovation? I document that countries that joined the European Union (EU) started producing more product varieties, investing more in R&D, and trading more compared to candidate countries that did not…
Understanding the business cycle is crucial for building economic stability, guiding business planning, and informing investment decisions. The business cycle refers to the recurring pattern of expansion and contraction in economic activity…
The competitive advantages in a knowledge-based economy can no longer be attributed to single nodes in the network. Political economies are increasingly reshaped by knowledge-based developments that upset market equilibria and institutional…
A common assumption in evolutionary thought is that adaptation drives an increase in biological complexity. However, the rules governing evolution of complexity appear more nuanced. Evolution is deeply connected to learning, where…