Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: Is it a power law distribution? The case of economic contractions   One of the first steps to understand and forecast economic downturns is
identifying their frequency distribution, but it remains uncertain. This
problem is common in phenomena displaying power-law-like distributions. Power
laws play a central role in complex systems theory; therefore, the current
limitations in the identification of this distribution in empirical data are a
major obstacle to pursue the insights that the complexity approach offers in
many fields. This paper addresses this issue by introducing a reliable
methodology with a solid theoretical foundation, the Taylor Series-Based Power
Law Range Identification Method. When applied to time series from 39 countries,
this method reveals a well-defined power law in the relative per capita GDP
contractions that span from 5.53% to 50%, comprising 263 events. However, this
observation does not suffice to attribute recessions to some specific
mechanism, such as self-organized criticality. The paper highlights a set of
points requiring more study so as to discriminate among models compatible with
the power law, as needed to develop sound tools for the management of
recessions.

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The categories of this paper are: plasm-ph
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The categories of this paper are: patt-sol
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The categories of this paper are: mtrl-th
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The categories of this paper are: nucl-th
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The categories of this paper are: adap-org
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The categories of this paper are: math-ph
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The categories of this paper are: bayes-an
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The categories of this paper are: alg-geom
0
The categories of this paper are: hep-ph
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The categories of this paper are: cs
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The categories of this paper are: chem-ph
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The categories of this paper are: math
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The categories of this paper are: ao-sci
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The categories of this paper are: nucl-ex
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The categories of this paper are: funct-an
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The categories of this paper are: solv-int