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Seminars & Lectures

* TITLE

Scalings in Economic Growths

* SPEAKERS

Name	Affiliation	E-mail
Dr. Y.K. Lee	Boston University

* HOST(Applicant)

Name	Affiliation	E-mail
-

* DATE / TIME

2000-08-11, 15:00 - 19:00

* PLACE

Annex 9th floor seminar room

* ABSTRACT

We analyze economic growths and seek for scalings and universal behaviors. There are three major findings; (i) The growth probability of economic growths is characterized with long tails much broader than Gaussian distribution. The distributions are usually symmetric but the exact form of the tails show a controversial behaviors. (ii) The width of the growth probability scales as a power-law as we increase the scale of the time of analysis. This is related with that there is no auto-correlation on the growth itself but a power-law correlation of the absolute value of the growth. (iii) There is an universal power-law
relation between the width of the growth distribution and their sizes (market capitalization) with exponent around 1/6. We also present some of models which explain the key scaling behavior of economic growth and some of recent analysis of the inter-trade intervals.

Reference : "An introduction Of econophysics : Correlations and Complexity

in Finance" by R.N. Mantegna and H.E. Stanley (Cambridge Univ. Press, 1999)

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