Much of macroeconomics is concerned with the allocation of physical capital, human capital, and labor over time and across people. The decisions on savings, education, and labor supply that generate these variables are made within families. Yet the family (and decision making in families) is...

Recent empirical research has shown that output and GDP per capita in the aftermath of natural disasters are not necessarily lower than before the event. In many cases, both are not significantly affected and, surprisingly, sometimes they are found to respond positively to natural disasters....

This paper provides a theoretical and empirical evaluation of neo-Kaleckian supermultiplier and neo-Goodwinian models. The benchmark structuralist and Harrodian neo-Goodwinian models posit a macro economy with only one asset: the capital stock. Demand leakages presuppose that at least one sector...

We estimate a model of natural default probabilities conditional on credit ratings and macroeconomic drivers. The output is an issuer-specific expected default rate at variable horizons, which can be combined to form an expected default rate for a given portfolio of rated credits. This permits...

Fertility and Inflation rate convergence/divergence analysis is empirically studied for decades. The China and India growth story had remained different in relation to perhaps the rest of three members (Russia excluded in the present study due to incomplete data). It was witnessed that wide...

In this paper, we argue that studying recession events through the shapes observed in subsequences of GDP data can help to avoid methodological complications and offer new insights to traditional inquiries. With a set of 147 recession events from 77 countries, we analyze whether the shape of the...

One important contribution made by both David Ricardo and Karl Marx is their nonlinear dynamical reasoning for understanding key macroeconomic variables. This note aims to reconstruct some crucial aspects of their nonlinear business cycle theories utilizing the computational power of Wolfram...

In this note, we review the conclusions of a paper comparing a cyclical coordinate descent (CCD) algorithm with other algorithms for solving risk parity portfolio optimization problems. In particular, we show that a proper numerical implementation of the CCD algorithm is fast, robust and...

The present work applies several advanced spectral methods to the analysis of macroeconomic fluctuations in three countries of the European Union: Italy, The Netherlands, and the United Kingdom. We focus here in particular on singular-spectrum analysis (SSA), which provides valuable spatial and...