Regional economic resilience: An entropic analysis of the 2008 economic crisis

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Regional economic resilience: An entropic analysis of the 2008 economic crisis

Popis výsledku v původním jazyce

This paper provides an analysis of labour force market dynamics of the 2008 financial crises and discusses the extent to which entropy measures can be useful in predicting regional employment dynamics. We find that the Shannon entropy and Tsallis entropy is more suitable for prediction of size of employment downturn (recession index) while the Rényi entropy is the dominant predictor of rate of employment downturn in recession phase. The results of the statistical analysis show that when Shannon entropy was growing through the recovery phase before the crisis, regions experience a higher rate of employment decrease in the following recession period. On the other hand, the higher the Shannon entropy was, the smaller recession index. However, the Tsallis entropy plays a different role in comparison to Shannon entropy. The higher the measured Tsallis entropy was, the more significantly the region was affected. In conclusion, the use of entropy as a resilience indicator in terms of regional policy is a significant predictor of regional resilience.

Název v anglickém jazyce

Regional economic resilience: An entropic analysis of the 2008 economic crisis

Popis výsledku anglicky

This paper provides an analysis of labour force market dynamics of the 2008 financial crises and discusses the extent to which entropy measures can be useful in predicting regional employment dynamics. We find that the Shannon entropy and Tsallis entropy is more suitable for prediction of size of employment downturn (recession index) while the Rényi entropy is the dominant predictor of rate of employment downturn in recession phase. The results of the statistical analysis show that when Shannon entropy was growing through the recovery phase before the crisis, regions experience a higher rate of employment decrease in the following recession period. On the other hand, the higher the Shannon entropy was, the smaller recession index. However, the Tsallis entropy plays a different role in comparison to Shannon entropy. The higher the measured Tsallis entropy was, the more significantly the region was affected. In conclusion, the use of entropy as a resilience indicator in terms of regional policy is a significant predictor of regional resilience.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of the 30th International Business Information Management Association Conference

ISBN

978-0-9860419-9-0

ISSN

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e-ISSN

neuvedeno

Počet stran výsledku

14

Strana od-do

987-1000

Název nakladatele

International Business Information Management Association-IBIMA

Místo vydání

Norristown

Místo konání akce

Madrid

Datum konání akce

8. 11. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000443640500097