Macro-Econophysics

The concepts of statistical physics and big data play an important role in the evidence-based analysis and interpretation of macroeconomic principles. The techniques of complex networks, big data, and statistical physics are useful to understand theories of economic systems, and the authors have applied these to understand the intricacies of complex macroeconomic problems. Recent research work using tools and techniques of big data, statistical physics, complex networks, and statistical science is covered, and basic graph algorithms and statistical measures of complex networks are described. The application of big data and statistical physics tools to assess price dynamics, inflation, systemic risks, and productivity is discussed. Chapter-end summary and numerical problems are provided to reinforce understanding of concepts.

• Discusses economic networks and synchronization from the perspectives of statistical physics and complex networks
• Covers recent researches based on empirical and large-scale datasets from Japan, the European Union and the US
• Highlights applications in business cycles, price dynamics, productivity and systemic risks
• Concepts are elaborated on by using big data and new tools