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Politicians world-wide frequently promise a better life for their citizens. We find that the probability that a country will increase its {it per capita} GDP ({it gdp}) rank within a decade follows an exponential distribution with decay constant $lambda = 0.12$. We use the Corruption Perceptions Index (CPI) and the Global Competitiveness Index (GCI) and find that the distribution of change in CPI (GCI) rank follows exponential functions with approximately the same exponent as $lambda$, suggesting that the dynamics of {it gdp}, CPI, and GCI may share the same origin. Using the GCI, we develop a new measure, which we call relative competitiveness, to evaluate an economys competitiveness relative to its {it gdp}. For all European and EU countries during the 2008-2011 economic downturn we find that the drop in {it gdp} in more competitive countries relative to {it gdp} was substantially smaller than in relatively less competitive countries, which is valuable information for policymakers.
This paper analyzes the equilibrium distribution of wealth in an economy where firms productivities are subject to idiosyncratic shocks, returns on factors are determined in competitive markets, dynasties have linear consumption functions and governm
Based on the stochastic model proposed by Patriarca-Kaski-Chakraborti that describes the exchange of wealth between $n$ economic agents, we analyze the evolution of the corresponding economies under the assumption of a Gaussian background, modeling t
We focus on the problem of how wealth is distributed among the units of a networked economic system. We first review the empirical results documenting that in many economies the wealth distribution is described by a combination of log--normal and pow
We introduce an auto-regressive model which captures the growing nature of realistic markets. In our model agents do not trade with other agents, they interact indirectly only through a market. Change of their wealth depends, linearly on how much the
The statistical mechanics approach to wealth distribution is based on the conservative kinetic multi-agent model for money exchange, where the local interaction rule between the agents is analogous to the elastic particle scattering process. Here, we