search query: @indexterm COMPLEXITY / total: 120
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| Author: | Durlauf, S.N. |
| Title: | Complexity and empirical economics |
| Journal: | Economic Journal
2005 : JUN, VOL. 115:504, p. 225-243 |
| Index terms: | Complexity Empirical research |
| Language: | eng |
| Abstract: | This article examines the interplay between efforts to introduce complex systems methods into economics and the understanding of empirical phenomena. The writer divides the empirical side of economic complexity into three general categories: historical studies, the identification of power and scaling laws, and analyses of social interactions. The writer argues that none of these empirical approaches has produced real evidence that economic contexts show the substantive microstructure of properties of complex systems. This reflects inadequate attention to identification problems. As a result, identification should be at the centre of future studies on the empirics of complexity. |
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