Economic Fitness: La Parola all'Esperto Una serie di video, interviste e articoli per mostrare e spiagare i fondamenti e i successi del metodo di Economic Fitness del Professor Luciano Pietronero. Feb 12, 2018 2 min read

Economic Complexity Workshop presso CCS2018 Il 26 Settembre, il gruppo di Economic Fitness presiede il workshop Economic Fitness and Complexity presso CCS2018, la conferenza annuale organizzata dalla Complex Systems Society, quest'anno tenuta a Salonicco con il sostegno dell'Università Aristotele di Salonicco. Sep 24, 2018 1 min read

A dynamical systems approach to gross domestic product forecasting Models developed for gross domestic product (GDP) growth forecasting tend to be extremely complex, relying on a large number of variables and parameters. Such complexity is not always to the benefit of the accuracy of the forecast... Aug 25, 2018 1 min read

Convenzione Sapienza CNEL Firmato un importante accordo di collaborazione fra il Consiglio Nazionale dell'Economia e del Lavoro e l'università Sapienza di Roma Feb 6, 2018 1 min read

Economic Fitness: Evolving Economic Complexity For Developement In data 14 Settembre 2017, una squadra di scienziati senior del gruppo di ricerca Economic Fitness, guidata dal Professor Luciano Pietronero, ha tenuto un giorno di discussioni presso la sede dell'IFC a Washington, DC. Oct 15, 2018 1 min read

Dynamics in the Fitness-Income plane: Brazilian states vs World countries In this paper we introduce a novel algorithm, called Exogenous Fitness, to calculate the Fitness of subnational entities and we apply it to the states of Brazil. In the last decade, several indices were introduced to measure... Sep 6, 2018 1 min read

Integrating Services in the Economic Fitness Approach Economic Complexity is a set of network-based and algorithmic methods for the study of economic development and competitiveness. In this framework, Economic Fitness is an innovative approach that improves... Sep 6, 2018 1 min read

A new and stable algorithm for economic complexity We present a non-linear non-homogeneous fitness-complexity algorithm where the presence of non homogeneous terms guarantees both convergence and stability. After a suitable rescaling of the relevant quantities... Sep 6, 2018 1 min read

The role of complex analysis in modeling economic growth Development and growth are complex and tumultuous processes. Modern economic growth theories identify some key determinants of economic growth. However, the relative importance of the determinants remains unknown... Sep 6, 2018 1 min read

Complex economies have a lateral escape from the poverty trap We analyze the decisive role played by the complexity of economic systems at the onset of the industrialization process of countries over the past 50 years. Our analysis of the input growth dynamics, considering a further dimension through... Sep 25, 2018 1 min read

Unfolding the innovation system for the development of countries: co-evolution of Science, Technology and Production We show that the space in which scientific, technological and economic developments interplay with each other can be mathematically shaped using pioneering multilayer network and complexity techniques. Nov 6, 2018 1 min read

Coherent diversification in corporate technological portfolios We study the relationship between firms' performance and their technological portfolios using tools borrowed from the complexity science. In particular, we ask whether the accumulation of knowledge and capabilities related to a coherent set of technologies leads... Sep 25, 2018 1 min read

How the taxonomy of products drives the economic development of countries We introduce an algorithm able to reconstruct the relevant network structure on which the time evolution of country-product bipartite networks takes place. The significant links are obtained by selecting the largest values of the projected matrix... Aug 28, 2017 1 min read

A New Metrics for Countries’ Fitness and Products’ Complexity Classical economic theories prescribe specialization of countries industrial production. Inspection of the country databases of exported products shows that this is not the case: successful countries are extremely diversified... Aug 3, 2017 1 min read

Measuring the Intangibles: A Metrics for the Economic Complexity of Countries and Products We investigate a recent methodology we have proposed to extract valuable information on the competitiveness of countries and complexity of products from trade data. Standard economic theories predict a high level of specialization... Jul 25, 2017 1 min read

Economic development and wage inequality: A complex systems analysis Adapting methods from complex system analysis, this paper analyzes the features of the complex relationship between wage inequality and the development and industrialization of a country... Jun 15, 2018 1 min read

On the predictability of growth A country's productive structure and competitiveness are harbingers of growth. Growth is a dynamic process based on capabilities that are difficult to define and measure across countries... Sep 25, 2018 1 min read

Complex, inter-networked economic and social systems Editoriale su the European Physical Journal Sep 6, 2018 1 min read

The complex dynamics of products and its asymptotic properties We analyse global export data within the Economic Complexity framework. We couple the new economic dimension Complexity, which captures how sophisticated products are, with an index called logPRODY, a measure of the income... Sep 6, 2018 1 min read

Economic development and wage inequality: A complex system analysis Adapting methods from complex system analysis, this paper analyzes the features of the complex relationship between wage inequality and the development and industrialization of a country... Sep 6, 2018 1 min read

Why we like the ECI+ algorithm Recently a measure for Economic Complexity named ECI+ has been proposed by Albeaik et al. We like the ECI+ algorithm because it is mathematically identical to the Fitness algorithm, the measure for Economic Complexity we introduced in 2012... Sep 6, 2018 1 min read

Economic Complexity: "Buttarla in caciara" vs a constructive approach This note is a contribution to the debate about the optimal algorithm for Economic Complexity that recently appeared on ArXiv [1, 2] . The authors of [2] eventually agree that the ECI+ algorithm [1] consists just in a renaming of the Fitness... Sep 6, 2018 1 min read

On the Convergence of the Fitness-Complexity Algorithm We investigate the convergence properties of an algorithm which has been recently proposed to measure the competitiveness of countries and the quality of their exported products... Sep 6, 2018 1 min read

A case study for a new metrics for economic complexity: The Netherlands We present a new approach for the economic analysis of countries, which we apply to the case of the Netherlands. Our study is based on a novel way to quantify exported products’ complexity and countries’ fitness which has been recently introduced in the literature... Sep 25, 2018 1 min read

How log-normal is your country? An analysis of the statistical distribution of the exported volumes of products We have considered the statistical distributions of the volumes of 1131 products exported by 148 countries. We have found that the form of these distributions is not unique but heavily depends on the level of development of the nation... Sep 6, 2018 1 min read

Investigating the interplay between fundamentals of national research systems: performance, investments and international collaborations We discuss, at the macro-level of nations, the contribution of research funding and rate of international collaboration to research performance, with important implications for the “science of science policy”... Sep 6, 2018 1 min read

From innovation to diversification: a simple competitive model Few attempts have been proposed in order to describe the statistical features and historical evolution of the export bipartite matrix countries/products. An important standpoint is the introduction of a products network, namely a hierarchical... Sep 6, 2018 1 min read

Liquidity crises on different time scales We present an empirical analysis of the microstructure of financial markets and, in particular, of the static and dynamic properties of liquidity. We find that on relatively large time scales (15 min) large price fluctuations are connected to the failure... Sep 6, 2018 1 min read

The heterogeneous dynamics of economic complexity What will be the growth of the Gross Domestic Product (GDP) or the competitiveness of China, United States, and Vietnam in the next 3, 5 or 10 years? Despite this kind of questions has a large societal impact and an extreme value... Sep 6, 2018 1 min read

Diversification vs specialization in complex ecosystems By analyzing the distribution of revenues across the production sectors of quoted firms we suggest a novel dimension that drives the firms diversification process at country level. Data show a non trivial macro regional clustering... Sep 6, 2018 1 min read

How metrics for economic complexity are affected by noise Starting from the matrix of international export data is possible to extract information about the competitiveness of countries and the complexity of products. However, export data are often unreliable and the export matrix is subject to a number of mistakes... Sep 6, 2018 1 min read

Memory effects in stock price dynamics: evidences of technical trading Technical trading represents a class of investment strategies for Financial Markets based on the analysis of trends and recurrent patterns in price time series. According standard economical theories these strategies should... Sep 6, 2018 1 min read

Economic complexity: conceptual grouding of a new metrics for global competitiveness The availability of data corresponding to the products exported by all countries provides an excellent dataset to test economic ideas and extracts new information about the process of economic development... Sep 6, 2018 1 min read

Reaction to Extreme Events in a Minimal Agent Based Model We consider the issue of the overreaction of financial markets to a sudden price change. In particular, we focus on the price and the population dynamics which follows a large fluctuation. In order to investigate these aspects from different... Sep 6, 2018 1 min read

A Network Analysis of Countries' Export Flows: Firm Grounds for the Building Blocks of the Economy In this paper we analyze the bipartite network of countries and products from UN data on country production. We define the country-country and product-product projected networks and introduce a novel method of filtering information... Sep 6, 2018 1 min read

Competitors’ communities and taxonomy of products according to export fluxes In this paper we use Complex Network Theory to quantitatively characterize and synthetically describe the complexity of trade between nations. In particular, we focus our attention on export fluxes... Sep 6, 2018 1 min read

Statistical agent based modelization of the phenomenon of drug abuse We introduce a statistical agent based model to describe the phenomenon of drug abuse and its dynamical evolution at the individual and global level. The agents are heterogeneous with respect to their intrinsic inclination to drugs... Sep 6, 2018 1 min read

There is More than a Power Law in Zipf The largest cities, the most frequently used words, the income of the richest countries, and the most wealthy billionaires, can be all described in terms of Zipf’s Law, a rank-size rule capturing the relation between the frequency of a set... Sep 6, 2018 1 min read

Time evolution of financial cross-correlation coefficients across market crisis We investigate the time evolution of financial cross-correlation coefficients during financial crises and compare them to what is observed in periods of stability. We choose three main events, the Dot.Com Bubble... Sep 6, 2018 1 min read

Universal relation between skewness and kurtosis in complex dynamics In this chapter we discuss the work presented in the paper—Cristelli et al., Phys. Rev. E, 85, 066108, 2012, where we identify an important correlation between skewness and kurtosis for a broad class of complex dynamics... Sep 6, 2018 1 min read

Critical Overview of Agent-Based Models for Economics We present an overview of some representative Agent-Based Models in Economics. We discuss why and how agent-based models represent an important step in order to explain the dynamics and the statistical properties... Sep 6, 2018 1 min read

Liquidity crisis, granularity of the order book and price fluctuations We introduce a microscopic model for the dynamics of the order book to study how the lack of liquidity influences price fluctuations. We use the average density of the stored orders (granularity g) as a proxy for liquidity... Sep 6, 2018 1 min read

Statistical physics: Physicists get social The triennial STATPHYS conference series aims to enhance the international relevance and visibility of the broad field of statistical physics and all its interdisciplinary developments... Sep 6, 2018 1 min read

Mechanisms of self-organization and finite size effects in a minimal agent based model We present a detailed analysis of the self-organization phenomenon in which the stylized facts originate from finite size effects with respect to the number of agents considered and disappear in the limit of an infinite population... Sep 6, 2018 1 min read

Minimal agent based model for financial markets I : Origin and self-organization of stylized facts We introduce a minimal agent based model for financial markets to understand the nature and self-organization of the stylized facts. The model is minimal in the sense that we try to identify the essential ingredients to reproduce... Sep 6, 2018 1 min read

Minimal agent based model for financial markets II - Statistical properties of the linear and multiplicative dynamics We present a detailed study of the statistical properties of the Agent Based Model introduced in paper I [Eur. Phys. J. B, DOI: 10.1140/epjb/e2009-00028-4] and of its generalization to the multiplicative dynamics... Sep 6, 2018 1 min read

Self-organization for the stylized facts and finite-size effects in a financial-market model We propose a mechanism to understand the phenomenon of self-organization of the stylized facts in financial markets. This question is addressed within a workable agent-based model which is particularly simple and mathematically well posed. Sep 6, 2018 1 min read