英文标题：
《Deviations from universality in the fluctuation behavior of a
heterogeneous complex system reveal intrinsic properties of components: The
case of the international currency market》
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作者：
Abhijit Chakraborty, Soumya Easwaran and Sitabhra Sinha
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最新提交年份：
2018
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英文摘要：
Identifying behavior that is relatively invariant under different conditions is a challenging task in far-from-equilibrium complex systems. As an example of how the existence of a semi-invariant signature can be masked by the heterogeneity in the properties of the components comprising such systems, we consider the exchange rate dynamics in the international currency market. We show that the exponents characterizing the heavy tails of fluctuation distributions for different currencies systematically diverge from a putative universal form associated with the median value (~2) of the exponents. We relate the degree of deviation of a particular currency from such an \"inverse square law\" to fundamental macroscopic properties of the corresponding economy, viz., measures of per capita production output and diversity of export products. We also show that in contrast to uncorrelated random walks exhibited by the exchange rate dynamics for currencies belonging to developed economies, those of the less developed economies show characteristics of sub-diffusive processes which we relate to the anti-correlated nature of the corresponding fluctuations. Approaches similar to that presented here may help in identifying invariant features obscured by the heterogeneous nature of components in other complex systems.
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中文摘要：
在远离平衡的复杂系统中，识别在不同条件下相对不变的行为是一项具有挑战性的任务。作为半不变签名的存在如何被组成这类系统的组件的属性的异质性所掩盖的一个例子，我们考虑了国际货币市场中的汇率动态。我们表明，表征不同货币波动分布重尾的指数系统地偏离了与指数中值（~2）相关的假定普遍形式。我们将特定货币偏离这种“平方反比定律”的程度与相应经济体的基本宏观属性联系起来，即。，衡量人均生产量和出口产品多样性的指标。我们还表明，与发达经济体货币汇率动态所显示的不相关随机游动相比，欠发达经济体的货币表现出次扩散过程的特征，这与相应波动的反相关性质有关。类似于这里介绍的方法可能有助于识别被其他复杂系统中组件的异构性所掩盖的不变特征。
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分类信息：

一级分类：Quantitative Finance 数量金融学
二级分类：Statistical Finance 统计金融
分类描述：Statistical, econometric and econophysics analyses with applications to financial markets and economic data
统计、计量经济学和经济物理学分析及其在金融市场和经济数据中的应用
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一级分类：Physics 物理学
二级分类：Physics and Society 物理学与社会
分类描述：Structure, dynamics and collective behavior of societies and groups (human or otherwise). Quantitative analysis of social networks and other complex networks. Physics and engineering of infrastructure and systems of broad societal impact (e.g., energy grids, transportation networks).
社会和团体（人类或其他）的结构、动态和集体行为。社会网络和其他复杂网络的定量分析。具有广泛社会影响的基础设施和系统（如能源网、运输网络）的物理和工程。
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