Related papers: Improving the Economic Complexity Index
Tackling real-world socio-economic challenges requires designing and testing economic policies. However, this is hard in practice, due to a lack of appropriate (micro-level) economic data and limited opportunity to experiment. In this work,…
Quantifying the improvement in human living standard, as well as the city growth in developing countries, is a challenging problem due to the lack of reliable economic data. Therefore, there is a fundamental need for alternate, largely…
This paper investigates the causal effect of export intensity on productivity and other firm-level outcomes with a dose-response function. After positing that export intensity acts as a continuous treatment, we investigate counterfactual…
A property, or statistical functional, is said to be elicitable if it minimizes expected loss for some loss function. The study of which properties are elicitable sheds light on the capabilities and limitations of point estimation and…
Machine learning algorithms can now outperform classic economic models in predicting quantities ranging from bargaining outcomes, to choice under uncertainty, to an individual's future jobs and wages. Yet this predictive accuracy comes at a…
Entropy-based confidence signals are increasingly leveraged to improve reasoning in large language models (LLMs), yet existing approaches treat confidence as a static quantity -- typically aggregated over tokens. We show that the…
The combination of the network theoretic approach with recently available abundant economic data leads to the development of novel analytic and computational tools for modelling and forecasting key economic indicators. The main idea is to…
Urban economic vitality is a crucial indicator of a city's long-term growth potential, comprising key metrics such as the annual number of new companies and the population employed. However, modeling urban economic vitality remains…
Innovation is among the key factors driving a country's economic and social growth. But what are the factors that make a country innovative? How do they differ across different parts of the world and different stages of development? In this…
Few attempts have been proposed in order to describe the statistical features and historical evolution of the export bipartite matrix countries/products. An important standpoint is the introduction of a products network, namely a…
Since the European Union introduced its Circular Economy (CE) Action Plan in 2015, CE research has expanded rapidly. However, the structure of this emerging field - both in terms of its constituent disciplines and researcher dynamics -…
Predictive inference requires balancing statistical accuracy against informational complexity, yet the choice of complexity measure is usually imposed rather than derived. We treat econometric objects as predictive rules, mappings from…
Scholars have long hypothesized that democratic forms of government are more compatible with scientific advancement. However, empirical analysis testing the democracy-science compatibility hypothesis remains underdeveloped. This article…
Disagreement is an essential element of science and life in general. The language of probabilities and statistics is often used to describe disagreements quantitatively. In practice, however, we want much more than that. We want…
Despite widespread speculation about artificial intelligence's impact on the future of work, we lack systematic empirical evidence about how these systems are actually being used for different tasks. Here, we present a novel framework for…
In the era of the information society, the impact of the information systems on the economy of material and immaterial is certainly perceptible. With regards to the information resources of an organization, the annotation involved to enrich…
By integrating survival analysis, machine learning algorithms, and economic interpretation, this research examines the temporal dynamics associated with attaining a 5 percent rise in purchasing power parity-adjusted GDP per capita over a…
Gold and currency markets form a unique pair with specific interactions and dynamics. We focus on the efficiency ranking of gold markets with respect to the currency of purchase. By utilizing the Efficiency Index (EI) based on fractal…
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 integration of Artificial General Intelligence (AGI) into economic production represents a transformative shift with profound implications for labor markets, income distribution, and technological growth. This study extends the Constant…