This article explores the question of whether concepts and methods used in non-equilibrium statistical physics, already successfully applied in biology, epidemeology and finances, can also be a useful tool for research into economic development. The aim of this article is to describe one such...

This article explores the question of whether concepts and methods used in non-equilibrium statistical physics, already successfully applied in biology, epidemeology and finances, can also be a useful tool for research into economic development. The aim of this article is to describe one such...

We exploit the rationale behind the Expectation Maximization algorithm to derive simple to implement and interpret LM normality tests for the innovations of the latent variables in linear state space models against generalized hyperbolic alternatives, including symmetric and asymmetric Student...