Related papers: Inequality, mobility and the financial accumulatio…

We study the migrants' assimilation, which we conceptualize as forming human capital productive on the labor market of a developed host country, and we link the observed frequent lack of assimilation with the relative deprivation that the…

The promise of equal opportunity is a cornerstone of modern societies, yet upward economic mobility remains out of reach for many. Using a decade of population-scale social network data from the Netherlands, covering over a billion family,…

Many models of market dynamics make use of the idea of wealth exchanges among economic agents. A simple analogy compares the wealth in a society with the energy in a physical system, and the trade between agents to the energy exchange…

This paper studies spatial patterns formed by proximate population migration driven by real wage gradients and other idiosyncratic factors. The model consists of a tractable core-periphery model incorporating a quasi-linear log utility…

In this paper we study some mathematical models describing evolution of population density and spread of epidemics in population systems in which spatial movement of individuals depends only on the departure and arrival locations and does…

Factor models characterize the joint behavior of large sets of financial assets through a smaller number of underlying drivers. We develop a network-based framework in which factors emerge naturally from the structure of interactions among…

Recent studies have found evidence of a negative association between economic complexity and inequality at the country level. Moreover, evidence suggests that sophisticated economies tend to outsource products that are less desirable (e.g.…

Studying corruption presents unique challenges. Recent work in the spirit of computational social science exploits newly available data and methods to give a fresh perspective on this important topic. In this chapter we highlight some of…

This paper presents a model of the dynamics of the wage income distribution.

This paper examines the spatial agglomeration of workers and income in a continuous space-time framework. Local markets feature spatial spillovers and both exogenous and endogenous amenities. Workers relocate to maximise their instantaneous…

It has been found that human mobility exhibits random patterns following the Levy flight, where human movement contains many short flights and some long flights, and these flights follow a power-law distribution. In this paper, we study the…

The aim of this paper is to reemphasize the money theory of exchange which is centered on the function of exchange medium of money, and make a contribution towards linearization of the quantity equation of exchange. A dynamical quantity…

Tax evasion, usually the largest component of an informal economy, is a persistent challenge over history with significant socio-economic implications. Many socio-economic studies investigate its dynamics, including influencing factors, the…

This paper explores the interplay between transfer policies, R\&D, corruption, and economic development using a general equilibrium model with heterogeneous agents and a government. The government collects taxes, redistributes fiscal…

A class of conserved models of wealth distributions are studied where wealth (or money) is assumed to be exchanged between a pair of agents in a population like the elastically colliding molecules of a gas exchanging energy. All sorts of…

Traditional economic growth theories, grounded in deterministic and often linear frameworks, fail to adequately capture the inherent uncertainty, non-commutativity, and complex interdependencies of modern economies. This paper proposes a…

We consider a heterogeneous agent-based economic model where economic agents have strictly bounded rationality and where income allocation strategies evolve through selective imitation. Income is calculated by a Cobb-Douglas type production…

Some models of clustering processes are formulated and analytically solved employing generating functions methods. Those models include events which result from combined action of the coagulation and fragmentation processes. Fragmentation…

We have studied numerically the statistical mechanics of the dynamic phenomena, including money circulation and economic mobility, in some transfer models. The models on which our investigations were performed are the basic model proposed…

Automation and industrial mass production, particularly in sectors with low wages, have harmful consequences that contribute to widening wealth disparities, excessive pollution, and worsened working conditions. Coupled with a mass…