Related papers: Vertical vs. Horizontal Policy in a Capabilities M…
We use a simple combinatorial model of technological change to explain the Industrial Revolution. The Industrial Revolution was a sudden large improvement in technology, which resulted in significant increases in human wealth and life…
To achieve inclusive green growth, countries need to consider a multiplicity of economic, social, and environmental factors. These are often captured by metrics of economic complexity derived from the geography of trade, thus missing key…
We propose a financial liquidity policy sharing method for firm-to-firm supply networks, introducing a scalable autonomous control function for viable complex adaptive supply networks. Cooperation and competition in supply chains is…
Structural change consists of industrial diversification towards more productive, knowledge intensive activities. However, changes in the productive structure bear inherent links with job creation and income distribution. In this paper, we…
Forecast combination -- the aggregation of individual forecasts from multiple experts or models -- is a proven approach to economic forecasting. To date, research on economic forecasting has concentrated on local combination methods, which…
In the last decade, a large body of literature has been developed to explain the universal features of inequality in terms of income and wealth. By now, it is established that the distributions of income and wealth in various economies show…
The expansion of trade agreements has provided a potential basis for trade integration and economic convergence of different countries. Moreover, developing and expanding global value chains (GVCs) have provided more opportunities for…
General equilibrium macroeconomic models are a core tool used by policymakers to understand a nation's economy. They represent the economy as a collection of forward-looking actors whose behaviours combine, possibly with stochastic effects,…
Indeed, the global production (as a system of creating values) is eventually forming like a gigantic and complex network/web of value chains that explains the transitional structures of global trade and development of the global economy.…
This survey (re)introduces reinforcement learning methods to economists. The curse of dimensionality limits how far exact dynamic programming can be effectively applied, forcing us to rely on suitably "small" problems or our ability to…
As AI adoption accelerates, research on its economic impacts becomes a salient source to consider for stakeholders of AI policy. Such research is however still in its infancy, and one in need of review. This paper aims to accomplish just…
Globally operating enterprises selling large and complex products and services often have to deal with situations where variability models are locally developed to take into account the requirements of local markets. For example, cars sold…
We studied the research performance of 69 countries by considering two different types of new knowledge: incremental (normal) and fundamental (radical). In principle, these two types of new knowledge should be assessed at two very different…
Contact-rich manipulation demands human-like integration of perception and force feedback: vision should guide task progress, while high-frequency interaction control must stabilize contact under uncertainty. Existing learning-based…
This study investigates the causal impact of takeovers on firm-level financial accounts on a sample of 4,482 targets in the European Union in the period 2007- 2021. Findings suggest that horizontal integrations do not have a statistically…
We study the problem of learning a good set of policies, so that when combined together, they can solve a wide variety of unseen reinforcement learning tasks with no or very little new data. Specifically, we consider the framework of…
Hierarchical reinforcement learning is a promising approach to tackle long-horizon decision-making problems with sparse rewards. Unfortunately, most methods still decouple the lower-level skill acquisition process and the training of a…
Using the similar formulas of the preference relation and the utility function, we propose the confidence relations and the corresponding influence functions that represent various interacting strengths of different families, cliques and…
As more and more companies store their customers' data; various information of a person is distributed among numerous companies' databases. Different industrial sectors carry distinct features about the same customers. Also, different…
Our infrastructure systems enable our well-being by allowing us to move, store, and transform materials and information given considerable social and environmental variation. Critically, this ability is shaped by the degree to which society…