Год выпуска: 2010 Автор: Ivan Kitov and Oleg Kitov Издательство: LAP Lambert Academic Publishing Страниц: 504 ISBN: 9783843361224
Описание
Macroeconomics is represented as a hard science like physics and, specifically, classical mechanics. Due to this similarity we have called our concept “mechanomics” highlighting its mechanistic entity. There exist statistically reliable deterministic links between measured macroeconomic variables. In the order of causality, the overall population and its age structure drives the evolution of real GDP which, in turn, determines the rate of participation in workforce. The level of labour force unambiguously defines the rate of price inflation and unemployment. The age structure also controls the S&P 500 returns. Statistically, the goodness-of-fit between measured and predicted macroeconomic time series is at the level of 0.9, with the residuals likely related to measurement errors. Tests for cointegration confirm the presence of long-term equilibrium relations. We have extended the sets of econometric tools by the method of boundary elements well-known in physics. As a bonus to...
