Proposes a taxonomy for economic policies.
problem Lack of a standardized list of economic policies.
method Develops a tree taxonomy to categorize economic policies.
result Constructs an exhaustive list of economic policies.
AI-driven tax policies improve economic equality and productivity.
problem Lack of appropriate economic data and limited opportunity to experiment.
method Two-level deep reinforcement learning approach to learn dynamic tax policies from observational data.
result AI-driven tax policies improve the trade-off between equality and productivity by 16%.
Analyzes how economic policies affect wealth distribution in Bitcoin token economy.
problem Impact of economic policies on wealth distribution in token economies.
method Eliminated noise in wealth distribution data using macroeconomic and microeconomic time series. Causality analysis between BIPs and wealth distribution data.
result Proposed a structure for economic policy taxonomy in token economies.
Study examines how economic policy uncertainty impacts stock markets.
problem Dynamic relationship between economic policy uncertainty and stock markets.
method Used symmetric thermal optimal path (TOPS) method.
result Different interaction patterns observed in emerging and developed markets.
Current economic theories miss most of economic dynamics.
problem Accuracy of economic theories and policies depend on economic variables and processes.
method Identify and analyze overlooked economic variables and processes.
result Many economic variables and processes not accounted for in current theories.
Conventional economic analysis of stringent climate change mitigation policy generally concludes various levels of economic slowdown as a result of substantial spending on low carbon technology. Equilibrium economics however could not explain or predict the current economic crisis, which is of financial nature. Meanwhi…
Money analyzed as a multidimensional tensor for better economic policy.
problem Economic complexity and policy responsiveness.
method Tensor analysis of money dynamics.
result Enhanced economic policy design and resilience.
This study analyzes economic policy uncertainty indices using visibility graphs.
problem Understanding the role of economic policy uncertainty in global economies.
method Visibility graph algorithm applied to economic policy uncertainty indices.
result The economic policy uncertainty indices exhibit persistent behavior and scale-free networks.
Study examines how governance, corruption, and R&D affect economic development.
problem The impact of corruption and governance on economic development.
method General equilibrium model with heterogeneous agents and a government, including corruption as a fraction of tax revenues.
result Redistribution and innovation-led strategies can mitigate the negative effects of corruption on economic development.
ESOP uses Bayesian optimization to find optimal lock-down schedules.
problem Finding optimal lock-down schedules balancing health and economy.
method Bayesian optimization interacting with epidemiological models.
result ESOP schedules balance public health and economic impacts.
AI framework for automated policy-making connects with econometrics and social choice.
problem Improving government and economic policy-making through AI.
method Social Environment Design framework integrating Reinforcement Learning, EconCS, and Computational Social Choice.
result Promotes ethical and responsible decision making by solving open problems.
Study shows oil prices but not COVID-19 cases affect US economic policy uncertainty.
problem Effect of COVID-19 and crude oil prices on US economic policy uncertainty.
method Used ARDL model with daily data from January 21-March 13, 2020.
result Crude oil price dynamics increase US economic policy uncertainty, while COVID-19 cases have mixed effects.
Study shows economic policy uncertainty increases stock market crash risk during pandemic.
problem Impact of economic policy uncertainty on stock market crashes during the pandemic.
method Used GARCH-S model to estimate daily skewness as a proxy for crash risk, analyzed data from US stock market.
result Significantly negative correlation between economic policy uncertainty and stock market crash risk, stronger during pandemic.
This study examines how economic policy uncertainty impacts commodity prices across different crises.
problem Impact of economic policy uncertainty on commodity prices during various crises.
method Wavelet coherence analysis of time series data.
result Commodity prices are more correlated during global financial and Covid-19 crises.
The seriousness of the current crisis urgently demands new economic thinking that breaks the austerity vs. deficit spending circle in economic policy. The core tenet of the paper is that the most important problems that natural and social science are facing today are inverse problems, and that a new approach that goes …
Emerging economies use countercyclical policies to manage crises and dominant currencies.
problem Managing economic crises and fluctuations in dominant currencies like USD and EUR.
method Theoretical analysis, case studies, econometric modeling.
result Emerging economies can stabilize growth with countercyclical monetary policies.
SIMPOL solves complex economic models using numerical methods.
problem Optimizing consumption and savings under uncertainty.
method SIMPOL uses a modular numerical framework combining policy iteration and finite difference schemes.
result SIMPOL produces solutions consistent with economic and mathematical theory.
Risk, including economic risk, is increasingly a concern for public policy and management. The possibility of dealing effectively with risk is hampered, however, by lack of a sound empirical basis for risk assessment and management. The paper demonstrates the general point for cost and demand risks in urban rail projec…
Algorithm optimizes lockdown policies balancing health and economy.
problem Balancing health and economic impacts of lockdowns during pandemics.
method Reinforcement learning to automatically compute lockdown policies.
result Algorithm learns optimal lockdown policies from disease and population data.
Paper extends quantile factor analysis with probabilistic methods for better economic policy and financial condition prediction.
problem Improving accuracy in economic and financial condition prediction.
method Probabilistic quantile factor analysis with regularization and variational approximations.
result The probabilistic estimator outperforms a recent loss-based estimator in many cases.
We consider the relationship between economic activity and intervention, including monetary and fiscal policy, using a universal dynamic framework. Central bank policies are designed for growth without excess inflation. However, unemployment, investment, consumption, and inflation are interlinked. Understanding dynamic…
This paper explores how AI systems can learn moral behavior from economic entities.
problem Achieving moral behavior in AI systems.
method Analyses the analogy between machine learning and economic entities.
result Implicit specifications may work better than explicit ones for AI problems.
This study analyzes public debts and deficits between European countries. The statistical evidence here seems in general to reveal that sovereign debts and government deficits of countries within European Monetary Unification-in average- are getting worse than countries outside European Monetary Unification, in particu…
Survival analysis models predict economic convergence across Americas.
problem Analyzing GDP per capita trajectories and convergence across the Americas.
method Survival analysis, machine learning, economic interpretation.
result DeepSurv captures non-linear interactions in GDP per capita trajectories.
A policy compass indicates the direction in which an institution is going in terms of three general qualities. The three qualities are: suppression, harmony and passion. Any formal institution can develop a policy compass to examine the discrepancy between what the institution would like to do (suggested in its mandate…
The study examines how global economic policy uncertainty affects crude oil futures volatility.
problem Predicting crude oil futures volatility using global economic policy uncertainty.
method Established single-factor and two-factor models under the GARCH-MIDAS framework, tested with rolling-window and fixed-span specifications.
result GEPU changes have stronger predictive power than the GEPU index for crude oil futures volatility.
Paper proposes a framework for token economy simulation and wealth distribution.
problem Simulation and regulation of token economies.
method Formal analysis framework for tokenomics, defining mechanisms for wealth distribution and stability.
result Algorithmic regulatory controls for token economies to achieve desired wealth distribution.
Study finds relevance of exchange and inflation rates to economic factors.
problem Determining the relevance of exchange and inflation rates to economic factors.
method Introduced concept of adequacy, established positive relation between exchange and inflation rates and other economic factors.
result Close positive relation found between exchange and inflation rates and other economic factors.
Reinforcement learning aids decision-making in economics and finance.
problem Optimal decision-making in dynamic, uncertain environments.
method Reinforcement learning algorithms to learn optimal policies.
result Deep learning enhances solving complex behavioral problems.
Modeling how network connectivity affects economic collapse and robustness.
problem Impact of network topology on systemic risk and collapse of complex economic systems.
method Proposed a model to study the effects of network structure on economic systems by varying connectivity.
result Emergent systemic risks arise with increased interconnections, leading to phase transitions and tipping points.
Complexity science offers new insights into macroeconomics and finance.
problem Insufficient understanding of economic and financial phenomena.
method Adopting complexity science to better understand complex systems.
result Complex system characteristics can benefit financial analysts, regulators, and policymakers.
The paper tackles fair policy targeting by optimizing allocation rules to minimize unfairness.
problem Discrimination in individualized treatments of social welfare programs.
method Formulated as a mixed-integer linear program, solved using off-the-shelf algorithms, derived regret bounds and small sample guarantees.
result Designs fair and efficient treatment allocation rules within the Pareto frontier.
Policy shifts between Trump and Biden impact ESG investments, creating volatility.
problem Dramatic policy shifts between Trump and Biden administrations affect ESG investments.
method Analyzes contrasting policies of Trump and Biden administrations and their impacts on ESG investments.
result Policy changes significantly influence ESG investments, leading to volatility and portfolio reassessment.
Peru's abundant natural resources and friendly trade policies has made the country a major economic player in both South America and the global community. Consequently, exports are playing an increasingly important role in Peru's national economy. Indeed, growing from 13.1% as of 1994, exports now contribute approximat…
New framework detects time-varying economic persistence.
problem Time-varying persistence in economic shocks.
method Localized regression techniques to identify evolving heterogeneity.
result Substantial persistence variations align with macroeconomic events.
Estimates funding impact from an algorithmic relief rule, finding little effect on hospital activities.
problem Evaluating the impact of algorithmic policy decisions.
method Developed a treatment-effect estimator using algorithmic decisions as instruments.
result Funding from an algorithmic relief rule had little effect on COVID-19-related hospital activities.
Study analyzes GDP growth of CEE countries using time-varying coefficients.
problem Understanding GDP growth patterns of CEE countries post-integration.
method Panel regression with time-varying coefficients.
result Private debt plays a crucial role in economic growth.
This study improves stock price prediction by incorporating anticipated macroeconomic policy changes.
problem Improving accuracy in stock price prediction.
method Incorporates future expected macroeconomic policy changes and historical stock prices.
result Our method outperforms conventional approaches with an RMSE of 1.61 compared to 1.75.
In this paper, simple mathematical models from Control Theory are applied to three very important economic paradigms, namely (a) minimum wages in self-regulating markets, (b) market-versus-true values and currency rates, and (c) government spending and taxation levels. Analytical solutions are provided in all three par…
A new ML algorithm solves complex economic control problems.
problem Solving high-dimensional, finite-horizon stochastic control problems in economics.
method Deep neural network representation of optimal policy functions with three key features.
result Efficiently solves various economic control problems including recursive utility and growth models.
This paper outlines a critical gap in the assessment methodology used to estimate the macroeconomic costs and benefits of climate policy. It shows that the vast majority of models used for assessing climate policy use assumptions about the financial system that sit at odds with the observed reality. In particular, the …
The purpose of this study is to measure the Total Factor Productivity (TFP) growth and determine the share of each of the economic growth sources in the mining sector of Iran. The time period of this study is 1355-1385 of the Solar Hijri calendar (roughly overlaying with the time period of 1976-2006 of the Gregorian ca…
Study on financial impacts of zombie outbreak on economy.
problem Financial and economic consequences of a zombie epidemic.
method Epidemiological modeling and financial computation.
result GDP losses of 23.44% and financial market drop of 29.30% in a major industrialized nation.
Corporate governance struggles to curb fraud in a globalized economy.
problem Lack of effective international regulations against corporate fraud.
method Analyzes historical economic crises and the role of corporate governance.
result Corporate governance is insufficient to prevent large business fraud.
In the same way as the Hilbert Program was a response to the foundational crisis of mathematics, this article tries to formulate a research program for the socio-economic sciences. The aim of this contribution is to stimulate research in order to close serious knowledge gaps in mainstream economics that the recent fina…
We study the optimal trading policies for a wind energy producer who aims to sell the future production in the open forward, spot, intraday and adjustment markets, and who has access to imperfect dynamically updated forecasts of the future production. We construct a stochastic model for the forecast evolution and deter…
New interpretation reconciles country and product complexity.
problem Difficulty in interpreting Economic and Product Complexity Indices.
method Spectral clustering algorithm to separately group similar countries and products.
result Indices identify two co-clusters of similar countries and products.
Log-ergodic model improves velocity of money prediction.
problem Improving velocity of money prediction for economic control.
method Log-ergodic processes to simulate monetary velocity.
result Log-ergodic model offers superior predictive power.