Policy implications of complexity economics (CE) are investigated. CE deals with “Complex Adaptive (Economic) Systems” [CA(E)S], generally characterized by mechanisms and properties such as “emergence” of structure or some capacity of “self-organization”. With this, CE has manifold...

Recent experience of the great recession of 2008 has renewed one of the oldest debates in economics: whether economics could ever become a scientific discipline like physics. This paper proves that economics is truly a branch of physics by establishing for the first time a fundamental equation...

As economic conditions in the United States have faltered, the impact on the Mexican economy has been negative. The short-term consensus projections for Mexico reflect this and suggest that the downturn is not likely to loosen its grip on the Mexican economy until the second half of 2009 or even...

The National Economic Institute in Iceland was a government institute responsible for producing and publishing a national economic forecast. The institute was closed in 2002. This paper measures the accuracy of the institute's forecasts from 1981-2002. The paper measures the accuracy of the GDP...

Recent experience of the great recession of 2008 has renewed one of the oldest debates in economics: whether economics could ever become a scientific discipline like physics. This paper proves that economics is truly a branch of physics by establishing for the first time a fundamental equation...

The design of an adequate pension system is a very complex because it must contemplate multiple objectives. Must be inclusive, reduce poverty in old age, providing appropriate incentives in the labor market, increasing the aggregate savings of the economy, the ability to smooth consumption...