Related papers: From macro to micro: Economic complexity indicator…
Dynamic capabilities theory emerged as a leading framework in the process of value creation for firms. Its core notion complements the premise of the resource-based view of the firm and is considered an important theoretical and management…
This paper examines how firm-level determinants of industrial emissions evolve over time as firms adapt to environmental regulation, economic conditions, and organisational constraints. Using a panel of 204 U.S. industrial facilities…
We give a new predictive mathematical model for macroeconomics, which deals specifically with asset prices and earnings fluctuations, in the presence of a dynamic economy involving mergers, acquisitions, and hostile takeovers. Consider a…
A transformation network describes how one set of resources can be transformed into another via technological processes. Transformation networks in economics are useful because they can highlight areas for future innovations, both in terms…
We conduct an extensive meta-regression analysis of counterfactual programme evaluations from Italy, considering both published and grey literature on enterprise and innovation policies. We specify a multilevel model for the probability of…
Sparsity or complexity? In modern high-dimensional asset pricing, these are often viewed as competing principles: richer feature spaces appear to favor complexity, while economic intuition has long favored parsimony. We show that this…
Our computational economic analysis investigates the relationship between inequality, mobility and the financial accumulation process. Extending the baseline model by Levy et al., we characterise the economic process through stylised return…
The ability to attract and retain talented professors is a distinctive competence of world-class universities and a source of competitive advantage. The ratio of top scientists to academic staff could therefore be an indicator of the…
Automation raises productivity and reduces paid human labor, but it also reallocates income and ownership claims. This paper studies that tradeoff in a static benchmark and in a stationary heterogeneous-agent general equilibrium. Firms…
The growth of business firms is an example of a system of complex interacting units that resembles complex interacting systems in nature such as earthquakes. Remarkably, work in econophysics has provided evidence that the statistical…
We study how to assess the potential benefit of diversifying an equity portfolio by investing within and across equity sectors. We analyse 20 years of US stock price data, which includes the global financial crisis (GFC) and the COVID-19…
Do firm dynamics matter for the transmission of monetary policy? Empirically, the startup rate declines following a monetary contraction, while the exit rate increases, both of which reduce aggregate employment. I present a model that…
Manufacturing systems of the future need to have flexible resources and flexible routing to produce extremely personalized products, even of lot size equal to one. In this paper, we have proposed a framework, which is designed to achieve…
To examine the relation between profitability and business models (BMs) across bank sizes, the paper proposes a research strategy based on machine learning techniques. This strategy allows for analyzing whether size and profit performance…
We develop a new framework for constructing factors from firm characteristics that balances statistical efficiency and economic interpretability. Instead of using all characteristics equally, our method groups related characteristics and…
Robustness is often regarded as a critical future challenge for real-world applications, where stability is essential. However, as models often learn tasks in a similar order, we hypothesize that easier tasks will be easier regardless of…
A model for economic behavior, under heterogeneous spatial economic conditions is developed. The role of selection pressure in a Bak-Sneppen-like dynamics with entity diffusion on a lattice is studied by Monte-Carlo simulation taking into…
An original cross sectional dataset referring to a medium sized Italian university is implemented in order to analyze the determinants of scientific research production at individual level. The dataset includes 942 permanent researchers of…
A growing body of research documents that the size and growth of an industry in a place depends on how much related activity is found there. This fact is commonly referred to as the "principle of relatedness". However, there is no consensus…
Behavioural finance offers a valuable framework for examining foreign exchange (FX) market dynamics, including puzzles such as excess volatility and fat-tailed distributions. Yet, when it comes to their interaction with the `real' side of…