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We revisit the results of Harvie (2000) and show how correcting for a reporting mistake in some of the estimated parameter values leads to significantly different conclusions, including realistic parameter values for the Philips curve and…
This paper proposes a new approach to sales forecasting for new products with long lead time but short product life cycle. These SKUs are usually sold for one season only, without any replenishments. An exponential factorization machine…
We reconstruct a product-level input-output network based on firm-level import-export data of Italian firms. We show that the network has a statistically significant, yet nuanced trophic structure, which is evident at the product level but…
In this paper, we design two chapters to discuss trade dynamics with heterogeneous fluctuations, contributing new insights to macroeconomic issues related to international trade. In the first chapter, we model general exchange rate…
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…
Poverty is a serious issue that harms humanity progression. The simplest solution is to use one-shirt-size policy to alleviate it. Nevertheless, each region has its unique issues, which require a unique solution to solve them. In the aspect…
The proliferation of mobile devices has led to the collection of large amounts of population data. This situation has prompted the need to utilize this rich, multidimensional data in practical applications. In response to this trend, we…
The weak law of large numbers implies that, under mild assumptions on the source, the Renyi entropy per produced symbol converges (in probability) towards the Shannon entropy rate. This paper quantifies the speed of this convergence for…
This paper investigates the emergence of wealth inequality through a minimalist kinetic exchange model that incorporates two fundamental economic features: fixed-amount transactions and hard budget constraints. In contrast to the maximum…
Low total fertility rates throughout the world have lead to concerns about economic growth, military security, international political power, environment impacts, and quality of life. Overall total fertility rates of today's societies are…
This study investigates whether international equity markets systematically price global macroeconomic risks. The empirical analysis is conducted using monthly excess returns for ten G20 countries over the period 2000-2024. A Dynamic Factor…
We consider a thermodynamically correct framework for electro-energy-reaction-diffusion systems, which feature a monotone entropy functional while conserving the total charge and the total energy. For these systems, we construct a relative…
We extend the duality between exponential integrals and relative entropy to a variational formula for exponential integrals involving the Renyi divergence. This formula characterizes the dependence of risk-sensitive functionals and related…
This paper studies conditional allocation between a growth/technology ETF basket, denoted by $G$, and a defensive income/value-oriented ETF basket, denoted by $D$. The objective is not to discover a new standalone alpha factor, but to…
Drifts of asset returns are notoriously difficult to model accurately and, yet, trading strategies obtained from portfolio optimization are very sensitive to them. To mitigate this well-known phenomenon we study robust growth-optimization…
Polynomial distribution can be applied to dynamical systems in certain situations. Macroeconomic systems characterized by economic variables such as income and wealth can be modelled similarly using polynomials. We extend our previous work…
The timely identification of socio-economic sectors vulnerable to a disease outbreak presents an important challenge to the civic authorities and healthcare workers interested in outbreak mitigation measures. This problem was traditionally…
This study provides the theoretical framework and empirical model for productivity growth evaluations in agricultural sector as one of the most important sectors in Iran's economic development plan. We use the Solow residual model to…
The European Credit Research Institute Research Report 2013 identifies Households debt "rapid increase and abrupt retrenchment" among the causes of macroeconomic instability in the European Union after 2008. In our research: i) we accessed…
Chinese-style modernization involves the modernization of a large population, requiring top-level design in terms of scale and structure. The population perspective in Xi Jinping's Thought on Socialism with Chinese Characteristics for a New…