nep-bec New Economics Papers
on Business Economics
Issue of 2019‒05‒20
722 papers chosen by
Vasileios Bougioukos
Bangor University

  1. Certification and business risk By Trifkovi? Neda
  2. Aggregation of Efficiency and Productivity: From Firm to Sector and Higher Levels By Valentin Zelenyuk
  3. Institution, Major, and Firm-Specific Premia: Evidence from Administrative Data By Ost, Ben; Pan, Weixiang; Webber, Douglas
  4. The Determinants of FX Derivatives Use : Empirical Evidence from Turkish Non-Financial Firms in BIST By Mustafa Akay; Doruk Kucuksarac; Muhammed Hasan Yilmaz
  5. Macroprudential Policies, Persistence of Uncertainty and Leverage Dynamics: Evidence from a Major Developing Economy By Ibrahim Yarba; Zehra Nuray Guner
  6. Spatial Competition and Price Discrimination with Capacity Constraints By Matthias Hunold; Johannes Muthers
  7. Like it or not? The impact of online platforms on the productivity of incumbent service By Alberto Bailin Rivares; Peter Gal; Valentine Millot; Stéphane Sorbe
  8. The Role of Real Estate Uncertainty in Predicting US Home Sales Growth: Evidence from a Quantiles-Based Bayesian Model Averaging Approach By Oguzhan Cepni; Rangan Gupta; Mark E. Wohar
  9. Earnings inequality in the Brazilian formal sector: The role of firms, education, and top incomes 1994–2015 By Neri Marcelo; Machado Cecilia; Neto Valdemar
  10. What is the state of the manufacturing sector in Mozambique? By Schou Soren; Fisker Peter
  11. Market constraints, misallocation, and productivity in Viet Nam agriculture By Brandt Loren; Syerst Stephen; Restuccia Diego; Ayerst Stephen
  12. Spatial competition and price discrimination with capacity constraints By Hunold, Matthias; Muthers, Johannes
  13. On Technological Change and Yield Resiliency in Canadian Crop Yields By Ng, Horlick; Ker, Alan P.
  14. Exports, Imported Inputs, and Domestic Supply Networks By Yusuf Emre Akgunduz; Salih Fendoglu
  15. Empirical bias and efficiency of alpha-auctions: experimental evidence By Alexander L. Brown; Rodrigo A. Velez
  16. Agribusiness Performance and the Roles of Domestic Economic Policies: The Nigeria's Scenario By Akpan, Sunday B.; Udoh, Edet J.; Umoren, Aniefiol A.
  17. Enhancing local content in Uganda’s oil and gas industry By Sen Ritwika
  18. Productivity, structural change and skills dynamics: Evidence from a half century analysis in Tunisia and Turkey By Gunes Asik; Ulas Karakoc; Mohamed Ali Marouani; Michelle Marshalian
  19. French Civil Society : Historical Background, Present position and Major issues By Edith Archambault
  20. Discrimination in Hiring Based on Potential and Realized Fertility: Evidence from a Large-Scale Field Experiment By Sascha O. Becker; Ana Fernandes; Doris Weichselbaumer
  21. The Shape of Eurozone’s Uncertainty: Its Impact and Predictive Value on GDP By Ralf Fendel; Nicola Mai; Oliver Mohr
  22. Dynamic model of firms competitive interaction on the market with taxation By Oleg Malafeyev; Eduard Abramyan; Andrey Shulga
  23. Assessment of Land Tillage Practices and Related Problems Among Rice Farmers in Agreicultural Zone I, Niger State By Bwala, Madu Ali; Tiamiyu, S.A.; Adedeji, S.; Kolo, Alhaji Y.
  24. Does Credit Reporting Lead to a Decline in Relationship Lending? Evidence from Information Sharing Technology By Sutherland, Andrew
  25. Awareness and Adoption Rates of Climate Smart Practices Among Cereal Farmers in Nigeria By Shittu, Adebayo M.; Kehinde, Mojisola O.; Ogunnaike, Maria G.; Oyawole, Funminiyi P.; Akisanya, Lois T.
  26. Multinationals, Offshoring and the Decline of U.S. Manufacturing By Christoph E. Boehm; Aaron Flaaen; Nitya Pandalai-Nayar
  27. Getting the First Job – Size and Quality of Ethnic Enclaves for Refugee Labor Market Entry By Johan Klaesson; Özge Öner; Dieter Pennerstorfer
  28. Shared Micromoblity Policy Toolkit: Docked and Dockless Bike and Scooter Sharing By Shaheen, Susan PhD; Cohen, Adam
  29. Be healthy, be employed: A comparison between the US and France based on a general equilibrium model By Xavier Fairise; François Langot; Ze Zhong Shang
  30. Determinants of Fast Food Consumption Among Governmet Employees of Kwara State, Nigeria By Oladimeji, Y.U.; Abdulsalam, Z.; Oyewole, S.O.
  31. The corporate saving glut and the current account in Germany By Klug, Thorsten; Mayer, Eric; Schuler, Tobias
  32. Uncertain Commitment Power in a Durable Good Monopoly By Seres, Gyula
  33. Corporate Governance and Its Determinants: A Study on Wells Fargo Scandal By Mohd Nor Zamry, Nur Syafinaz
  34. Does Evidence from South-West Nigeria Indicate Poverty Status Influencing Farmer's Disposition to incentives in Climate Change Mitigation Scheme? By Sanusi, R.A.; Shittu, A.M.; Kehinde, M.O.; Tiamiyu, S.O.; Fapojuwo, O.E.; Oladeinde, K.B.
  35. What a firm produces matters: diversi cation, coherence and performance of Indian manufacturing By Dosi, Giovanni; Mathew, Nanditha; Pugliese, Emanuele
  36. Assessment of Food Security Status and Adaptation Strategies to Climate Change Among Farm Households in Kwara State By Ogunbiyi, K.K.; Olajide, O.A.
  37. Small business owners and health By Olivier Torrès; Roy Thurik
  38. A Meritocratic Origin of Egalitarian Behavior By Cappelen, Alexander W.; Mollerstrom, Johanna; Reme, Bjørn-Atle; Tungodden, Bertil
  39. Reducing regional disparities for inclusive growth in Spain By Muge Adalet McGowan; Juan Antona San Millán
  40. Mitigating Environmental Impact of Locust Bean Agribusiness: Potentials of Modifying Seed Collection Time and Pre-Germination Treatments of Parkia Biglobosa By Alawode, Ramatallah Adenike
  41. Asia and the world economy in historical perspective By Findlay Ronald
  42. Land Tenure and Property Rights Impacts on Adoption of Climate Smart Practices Among Smallholder Farmers in Nigeria By Kehinde, Mojisola O.; Shittu, Adebayo M.; Ogunnaike, Maria G.; Oyawole, Funminiyi P.; Akisanya, Lois T.
  43. The Evolution of Import Content of Production and Exports in Turkey: 2002-2017 By Yasemin Erduman; Okan Eren; Selcuk Gul
  44. Book Review: Ariane Berthoin Antal, Michael Hutter & David Stark (Editors) Moments of Valuation: Exploring Sites of Dissonance By Gazi Islam
  45. Effect of Climate Change on Small and Medium Scale Agro-Allied Enterprises in Ogun State, Nigeria By Thompson, O.A.; Amos, T.T.
  46. Extra Votes to Signal Loyalty: Regional Political Cycles and National Elections in Russia By Oleg Sidorkin; Dmitriy Vorobyev
  47. Overpricing persistence in experimental asset markets with intrinsic uncertainty By Sornette, Didier; Andraszewicz, Sandra; Wu, Ke; Murphy, Ryan O.; Rindler, Philipp; Sanadgol, Dorsa
  48. Adaptation Strategies and Farmers' Perception on the Effect of Climate Change on Cassava Production in Ondo State, Nigeria By Oduntan, O.; Oluyide, O.G.; Aderinola, E.A.
  49. Immigrants' Wage Performance in a Routine Biased Technological Change Era: France 1994-2012 By Catherine Laffineur; Eva Moreno-Galbis; Jeremy Tanguy; Ahmed Tritah
  50. Marketing Analysis of Fresh and Processed (Barbecue) Along Catfish Value Chain, Implication for Youth Livelihood in Southeast, Nigeria By Bcn-Chendo, G.N.; Obasi P.C.; Osuji, M.N.; Nwosu, F.O.; Emenyonu, C.A.; lbcagwa, B.O.; Uhuegbulem, I.J.
  51. Electric Vehicle Incentives in 13 Leading Electric Vehicle Markets By Kong, Nathaniel; Hardman, Scott
  52. Exogenous Rewards for Promoting Cooperation in Scale-Free Networks By Theodor Cimpeanu; The Anh Han; Francisco C. Santos
  53. Local Best Practices for Business Growth By Dalton, Patricio; Rüschenpöhler, Julius; Uras, Burak; Zia, Bilal
  54. From individual farms to agriholdings: Methodological implications. An explorative regional case study in East Germany By Laschewski, Lutz; Tietz, Andreas; Zavyalova, Ekaterina
  55. Consumidores: Frital INTA versus Spunta By Rodríguez, Julieta A.; Rodríguez, Elsa Mirta M.; Manchado, Juan C.; Lupín, Beatriz; Lucca, Florencia
  56. Crisis at Home: Mancession-induced Change in Intrahousehold Distribution By Olivier Bargain; Laurine Martinoty
  57. Length of maternal schooling and child’s risk of malaria infection in Uganda: evidence from a natural experiment By Masuda, Kazuya
  58. Experts, Reputation and Umbrella Effects: Empirical Evidence from Wine Prices By Dieter Pennerstorfer; Christoph Weiss; Andreas Huber
  59. Effect of Oil Spillage on Poverty Status of Artisan Fishing Households in Rivers State Nigeria By Numa, W.D.; Obayelu, A.E.; Sanusi, R.A.; Bada, B.A.
  60. Bildungsdienstleistung Fernstudium. Leistung – Prozess – Erstellung By Kautz, Wolf-Eckhard
  61. Baby gap: Does more education make for less children? By Westphal, Matthias; Kamhöfer, Daniel A.
  62. Optimal local content for extractive industries: How can policies best create benefits for Tanzania? By Ellis Mia; McMillan Margaret
  63. Empirical Evidence on Repeated Sequential Games By Ghidoni, Riccardo; Suetens, Sigrid
  64. Paid Family Leave and Breastfeeding: Evidence from California By Jessica Pac; Ann P. Bartel; Christopher Ruhm; Jane Waldfogel
  65. The costs and benefits of formalization for firms: A mixed-methods study on Mozambique By Berkel Hanna
  66. Gender Gaps and Adoption of Climate Smart Practices Among Cereal Farm Households in Nigeria By Fapojuwo, O.E.; Shittu, A.M.; Ogunnaike, M.G.; Kehinde, M.O.; Oyawole, F.P.; Akisanya, L.T.
  67. Investigating the Determinants of Finnish Agricultural Land Prices Using Generalised Additive Model By Valtiala, Juho PIetari; Ovaska, Sami; Sipiläinen, Timo
  68. Determinants of Climate Change Adaptation Strategies of Yam Producers in Niger State, Nigeria By Nmadu, J.N.; Coker, A.A.A.; Adams, E.
  69. Global Migration in the 20th and 21st Centuries: the Unstoppable Force of Demography By Thu Dao; Frédéric Docquier; Mathilde Maurel; Pierre Schaus
  70. Strategic environmental policy and the mobility of firms By Richter, Philipp M.; Runkel, Marco; Schmidt, Robert C.
  71. Indigenous Climate Change Adaptation Strategies As Practiced by Farm Households in Udi Lga of Enugu State, Nigeria By Chiemela, Stella Nwawulu; Chiemela, Chinedum Jachinma; Chiebonam, Onyia Chukwuemeka; Mgbebu, Ezekiel Sunday
  72. Analysis of Cassava Value Chain in Southeast Nigeria: A Seemingly Unrelated Regression Model Case By N., Osuji maryann; Eze C.C, Ibekwe; U.C, Obasi; G.N., Nemchendo; I.O.U., Mwaiwu; I., Uhuegqulem; U.G, Anyanwu
  73. The failure of democracy in the elaboration of constitutional reforms By François Facchini
  74. Tobin’s Q and Its Determinants: A Study of Market Valuation in MISC Berhad By Syazwani, Anis
  75. Investigating Climate Smart Agricultural Practices in Livestock Production: An Application of Principal Component Analysis By Ekpa, Daniel; Akinyemi, Mudashiru; Ibrahim, Hassan Ishaq
  76. Circular Business Models: towards sustainable value creation and capture ? Lessons learnt from the automotive recycling and reuse By Rémi Beulque; Franck Aggeri; Fabrice Abraham; Stéphane Morel
  77. Die quantitative Seite der Entwicklungszusammenarbeit: Politisches Wunschkonzert oder solide statistische Messung? By Obrovsky, Michael; Riegler, Hedwig
  78. Pushing One's Luck: Petroleum ownership and discoveries By Christa N. Brunnschweiler; Steven Poelhekke
  79. Assessment of Poverty Status Among Fish Farmers in Ogun State, Nigeria By A.E, Sodeeq; O.F, Ashaolu; A.G, Ibrahim; L.O, Lamidi; M.B, Salawu; S.D, Idowu; B.T, Ogunleye
  80. Economic Recession in Nigeria, Causes, Effects and the Agribusiness Antidote: A Thematic Discuss and Review By Ajie, E.N.; Eche, C.
  81. Socioeconomic determinants of child mortality:Evidence from Pakistan Demographic and Health Survey By Khan, Rana Ejaz Ali; Bari, Khadija Malik; Raza, Muhammad Ali
  82. Aceite de oliva del Sudoeste Bonaerense: ¿Hacia la construcción de una marca colectiva territorial? By Champredonde, Marcelo; Cendón, María Laura; Tedesco, Lorena; Lupín, Beatriz; Pérez, Stella Maris; Cincunegui, Carmen; Roldán, Camila
  83. A Note on Bayesian Long-Term S&P 500 Factor Investing By Taran Grove; Akram Reshad; Andrey Sarantsev
  84. Social Status and Risk-Taking in Investment Decisions By Florian Lindner; Michael Kirchler; Stephanie Rosenkranz; Utz Weitzel
  85. Effects of Microfinance on Small and Medium scale Enterprises in Ondo State Nigeria By Afelumo, B.E.; Afolabi, J.A.
  86. Der Begriff "Arbeit" beim frühen und beim späten Karl Marx By Brodbeck, Karl-Heinz
  87. Psychological Game Theory By Pierpaolo Battigalli; Martin Dufwenberg
  88. Factors Affecting Decision to Participate in agribusiness Among Youths in Ogun State, Nigeria By Akinwekomi, O.E.; Obayelu, A.E.; Afolabi, O.I.
  89. Working Paper 11-18 - Value chain integration of export-oriented and domestic market manufacturing firms - An analysis based on a heterogeneous input-output table for Belgium By Caroline Hambye; Bart Hertveldt; Bernhard Klaus Michel
  90. Perception on Climate Variability and Adaptation Strategies Among Plantain Producing Farmers in Omi-Adio Area, Oyo State, Nigeria By Sanusi, M.M.; Oyedeji, O.O.; Akerele, D.
  91. Emotions and strategic interactions By Nguyen, Yen
  92. Institutional Investor Attention and Firm Disclosure By Abramova, Inna; Core, John; Sutherland, Andrew
  93. Socio-Economic Determinants of Informal Savings for Small Scale Cassava Production in Abi Lga, Cross River State, NIgeria By Kuye, O.O.; Ettah, O.I.; Oniah, M.O.; Egbe, B.M.
  94. On the persistence of growth for South African firms By Mamburu Mulalo
  95. Talking to Influence and the Consulting Paradox By Dell'Era, Michele
  96. A More Diverse Teaching Force May Improve Educational Outcomes for Minority Students (Infographic) By Jeffrey Terziev
  97. Producer Services and the Current Account By Tobias Gruhle; Philipp Harms
  98. Explaining the Number of Social Media Fans for North American and European Professional Sports Clubs with Determinants of Their Financial Value By Nicolas Scelles; Boris Helleu; Christophe Durand; Liliane Bonnal; Stephen Morrow
  99. The Impact of CEOs in the Public Sector: Evidence from the English NHS By Janke, Katharina; Propper, Carol; Sadun, Raffaella
  100. El Mercado del Litio y la Revolución de las Energías Renovables By Vásquez Cordano, Arturo Leonardo
  101. Agency in regional path development: Towards a bio-economy in Värmland, Sweden By Jolly, Suyash; Grillitsch, Markus; Hansen, Teis
  102. Making Ends Meet: How Low-Income Social Security Disability Insurance Beneficiaries Meet Their Needs By Jack Gettens; Alexis Henry
  103. Analysis of the Awareness of Banana Bunchy Top Disease Among Farmers in Idologun Village Ogun State By Akinyemi, S.O.S; Adebisi-Adelani, O.; Layade, A.A.; Adegbite, O.; Arogundade, O.; Fajinmi, O.B.; Kumar, L.
  104. Little less conversation, little more action: Musical intervention as aesthetic material communication By Virpi Sorsa; Heini Merkkiniemi; Nada Endrissat; Gazi Islam
  105. 75 Jahre RWI: Ein Wegbereiter der Evidenzrevolution By Schmidt, Christoph M.
  106. Taxation and the cost of leasing in Romania: an analytic examination By Mihaela Teodorescu; Mihai Mieila
  107. Perceived Effects of Climate Change on Cassava Production and Farmers Coping Strategies in Ahoada-East Local Government Area, Rivers State Nigeria By Tasie, C.M.; Wilcox, G.I.
  108. Natural Resources and Income Inequality in Developed Countries: Synthetic Control Method Evidence By Christopher Hartwell; Roman Horvath; Eva Horvathova; Olga Popova
  109. Distributional Preferences Explain Individual Behavior Across Games and Time By Morten Hedegaard; Rudolf Kerschbamer; Mueller Daniel; Jean-Robert Tyran
  110. Möglichkeiten und Methoden zur innerbetrieblichen Materialflussoptimierung im Maschinen- und Anlagenbau mit hoher Variantenvielfalt By Wieling, Torge; Belger, Christian; Kleine-Möllhoff, Peter; Jenisch, Robin; Kutschera, Frederike; Lenz, Oliver; Lödige, Maximilian; Ruoff, Julian
  111. Does fiscal consolidation hurt economic growth? Empirical evidence from Spanish regions By Lago Peñas, Santiago; Vaquero-Garcia, Alberto; Sanchez-Fernandez, Patricio; Lopez-Bermudez, Beatriz
  112. How the rich are different: Hierarchical power as the basis of income and class By Fix, Blair
  113. Maternal mortality and women’s political participation By Clarke Damian; Bhalotra Sonia; Gomes Joseph; Venkataramani Atheendar
  114. Implementierung von Gleichstellungszielen in wirkungsorientierten Steuerungsprozessen: aktuelle Beispiele und Umsetzungserfahrungen By Wroblewski, Angela; Kleinberger-Pierer, Magdalena; Pohn-Weidinger, Simon; Grasenick, Karin
  115. Behavioural effects and market dynamics in field and laboratory experimental asset markets By Andraszewicz, Sandra; Wu, Ke; Sornette, Didier
  116. On the Bitcoin price dynamics: an augmented Markov-Switching model with Lévy jumps By Julien Chevallier; Stéphane Goutte; Khaled Guesmi; Samir Saadi
  117. Longevity forecasting by socio-economic groups using compositional data analysis By Søren Kjærgaard; Yunus Emre Ergemen; Marie-Pier Bergeron Boucher; Jim Oeppen; Malene Kallestrup-Lamb
  118. From Employment to Engagement? Stable Jobs, Temporary Jobs, and Cohabiting Relationships By Landaud, Fanny
  119. Productivity growth and finance: The role of intangible assets - a sector level analysis By Lilas Demmou; Irina Stefanescu; Axelle Arquie
  120. Causal pluralism and mixed methods in the analysis of poverty dynamics By Shaffer Paul
  121. Analysis of Climate Change Effects on Rice Output in Ebonyi State, Nigeria: 1990-2015 By Nwali, Nte I.; Okoro, Frank N.
  122. Optimal Stopping Time, Consumption, Labour, and Portfolio Decision for a Pension Scheme By Menoncin, Francesco; Vergalli, Sergio
  123. Bank capital forbearance By Martynova, Natalya; Perotti, Enrico; Suarez, Javier
  124. Nil-Filing in Eswatini: Should the Revenue Administration be Concerned? By Santoro, Fabrizio; Mdluli, Winnie
  125. EU ETS and the new green paradox By Rosendahl, Knut Einar
  126. Responsabilidad social en un centro público de salud en Chile By Severino-González, Pedro; Pujol-Cols, Lucas J.; Lazzaro-Salazar, Mariana
  127. Intergenerational mobility, human capital accumulation, and growth in India By van der Weide Roy; Vigh Melinda
  128. Bioökonomie aus Sicht der Bevölkerung By Hempel, Corinna; Will, Sabine; Zander, Katrin
  129. The Khohkoi Population: A Review of Evidence and Two New Estimates By La Croix, Sumner
  130. The Role of Neonatal Health in the Incidence of Childhood Disability By Todd Elder; David N. Figlio; Scott A. Imberman; Claudia Persico
  131. El reconocimiento de jugadores propios como un activo. El caso del Club Atlético Independiente (Argentina) By Barbano, Leonardo Nicolás
  132. Youths' Participation in Agricultural Production in Oyo State: Panacea to Agribusiness Development in Nigeria By Adigun, G.T.; Bamiro, O.M.; Oyetoki, A.
  133. Dynamics between trading volume, volatility and open interest in agricultural futures markets: A Bayesian time-varying coefficient approach By Robert Czudaj
  134. Core self-evaluations, perceived job characteristics and job satisfaction: evidence from two independent samples of highly skilled argentinian workers By Pujol-Cols, Lucas J.
  135. Impacto económico de los 26 principales proyectos de cobre del Perú, en los siguientes 20 años By Astete Benites, Víctor; Tuanama Tuanama, Nancy; Capcha Carhuapoma, Newton; Gamio Quiroz, Jason
  136. Job automation risk, economic structure and trade: a European perspective By Foster-McGregor, Neil; Nomaler, Önder; Verspagen, Bart
  137. The 'Distinctive Capacity': Managing the invention process by managing the prior art By Chipten Valibhay; Pascal Le Masson; Benoit Weil
  138. Does Scale Matter in Community Bank Performance? Evidence Obtained by Applying Several New Measures of Performance By Joseph P. Hughes; Julapa Jagtiani; Loretta J. Mester; Choon-Geol Moon
  139. School Nutrition and Meal Cost Study: Summary of Findings By Mary Kay Fox; Elizabeth Gearan
  140. Do Fundamentals Drive Cryptocurrency Prices? By Bhambhwani, Siddharth; Delikouras, Stefanos; Korniotis, George
  141. 50 jaar heffing van belasting over schenkingen en erfrechtelijke verkrijgingen By van Vijfeijken, Inge; Gubbels, Nicole
  142. Closed House of Wonders museum: Implications to the tourism of Zanzibar Stone Town, UNESCO World Heritage Site By Chami, Maximilian; Kaminyoge, Gabriel
  143. Saving and dissaving under Ramsey - Rawls criterion By Ha-Huy, Thai; Nguyen, Thi Tuyet Mai
  144. Double-Counting of Investment By Robert J. Barro
  145. Target-Falle oder Empörungsfalle? – Zur deutschen Diskussion um die Europäische Währungsunion By Martin Hellwig
  146. Inflation expectations and choices of households By Vellekoop, Nathanael; Wiederholt, Mirko
  147. Immobilien-Benchmarking: Clustern heterogener Immobilienbestände durch Regressionsanalysen By Richter, Sandra; Schöne, Lars Bernhard
  148. School Nutrition and Meal Cost Study: Study Design, Sampling, and Data Collection By Eric Zeidman; Nicholas Beyler; Elizabeth Gearan; Nikkilyn Morrison; Katherine Niland; Liana Washburn; Barbara Carlson; David Judkins; Lindsey LeClair; Michele Mendelson; Tara Wommack; Justin Carnagey; Maureen Murphy; Andre Williamson
  149. New method to detect convergence in simple multi-period market games with infinite large strategy spaces By Jørgen-Vitting Andersen; Philippe de Peretti
  150. What are the Implications of Regulation of Acquisition of Agricultural and Forestry Land – Insights from an Analysis of Mental Models of Expert Stakeholders in Sweden using Thematic Analysis By Simon, Katalin; Hansson, Helena
  151. The Principle of Minimum Differentiation Revisited: Return of the Median Voter By Nobuyuki Hanaki; Emily Tanimura; Nicolaas Vriend
  152. Population density and urban air quality By Rainald Borck; Philipp Schrauth
  153. A flexible state-space model with lagged states and lagged dependent variables: Simulation smoothing By Hauber, Philipp; Schumacher, Christian; Zhang, Jiachun
  154. Comparative Analysis of Income Inequality Among Small and Medium Agribusiness Loan Beneficiaries from Commercial and Microfinance Banks in IMO State Nigeria By Ukoha, I.I.; Ibeagwa, O.B.; Uhuegbulam, I.J.; Ejike, O.U.; Oshaji, I.O.; Osuji, E.E.; Chikezi, C.
  155. Patterns of Care and Home Health Utilization for Community-Admitted Medicare Patients By Andrea Wysocki; Valerie Cheh
  156. What type of microfinance institutions comply with International Financial Reporting Standards? By Magloire Nya Tchatchoua; Isabelle Pignatel; Hubert Tchakoute Tchuigoua
  157. On the Use of Spectral Value Decomposition for the Construction of Composite Indices By Farnia, Luca
  158. Markfundamentalismus als Kollektivgedanke: Mises und die Ordoliberalen By Ötsch, Walter; Pühringer, Stephan
  159. The shape of luck and competition in tournaments By Mikhail Drugov; Dmitry Ryvkin
  160. Banks as Patient Lenders: Evidence from a Tax Reform By Carletti, Elena; De Marco, Filippo; Ioannidou, Vasso; Sette, Enrico
  161. Collaboration, Alphabetical Order and Gender Discrimination. Evidence from the Lab By Wiborg, Vegard Sjurseike; Brekke, Kjell Arne; Nyborg, Karine
  162. Why do women earn more than men in some regions? : Explaining regional differences in the gender pay gap in Germany By Fuchs, Michaela; Rossen, Anja; Weyh, Antje; Wydra-Somaggio, Gabriele
  163. Conséquences de la mise en place des groupements hospitaliers de territoires sur les départements d'information médicale By Claire Le Pors; Carole Lê-Leplat; Isabelle Hirtzlin
  164. Nationalism and development in Asia By Duara Prasenjit
  165. Economics of Occupational Health in Resist Dyed Fabrics (ADIRE) Production in Abeokuta, Ogun State, Nigeria By Adekunle, C.P.; Ashaolu, O.F.; Sanusi, R.A.; Akerele, D.; Oyekale, T.O.; Ogunrinde, F.
  166. Risk assessment of a stock portfolio using value-at-risk By Adrian Nicolae Capatana
  167. REITs in Europa: Ein Vergleich von rechtlichen Rahmenbedingungen und Marktkapitalisierungen By Lossau, Tobias; Focke, Christian
  168. Ex-post Analyse der Ministererlaubnis-Fälle - Gemeinwohl durch Wettbewerbsbeschränkungen? By Stöhr, Annika; Budzinski, Oliver
  169. Housing Equity and Household Consumption in Retirement: Evidence from the Singapore Life Panel By Chen, Lipeng; Jiang, Liang; Phang, Sock Yong; Yu, Jun
  170. Keine Angst vor der Einschulung: Die Jüngsten in der Klasse holen auf By Tamm, Marcus; Görlitz, Katja
  171. Risk attitudes with state-dependent indivisibilities in consumption By Fels, Markus
  172. Tobin's Q of Honda Motor Company, Limited and its Determinants from 2013 to 2017 By Khoo, Shi Shean
  173. Desigualdades de género en los discursos de la dirigencia sindical argentina. Estudio de caso en el sector salud By Aspiazu, Eliana
  174. What drives competition on the farmland market? A case study in Brittany (France) By Piet, Laurent; Melot, Romain; Diop, Soukeyna
  175. Kann die Zustimmung zum Bau neuer Stromtrassen erkauft werden? By Frondel, Manuel
  176. Agricultural Diversification as Antidote to Economic Recession in Nigeria: Product Option By Ogundele, O. O.; Akujobi, Cajetan
  177. Immigrant-owned, Local and Global Firms in the Finnish Job and Production Restructuring By Maliranta, Mika; Nurmi, Satu
  178. Sommes-nous payés selon la productivité marginale ? By Jael, Paul
  179. Investigating the Relationship Between Loans Accessed Under Agricultural Credit Guarantee Scheme (ACGS) and Interest Rate Policy in Nigeria By Akpan, Umoren Aniefiok; Okon, Effiong Etim; Brownson, Akpan Sunday
  180. Automated Linking of Historical Data By Ran Abramitzky; Leah Platt Boustan; Katherine Eriksson; James J. Feigenbaum; Santiago Pérez
  181. Fair Utilitarianism By Marc Fleurbaey; Stéphane Zuber
  182. Working Paper 09-18 - Economic impact of professional services reform in Belgium - A DSGE simulation By Chantal Kegels; Dirk Verwerft
  183. The Financial Instability Hypothesis and the Financial Crisis in Eastern European Emerging Economies By Grytten, Ola Honningdal; Koilo, Viktoriia
  184. Playing with ghosts in a Dynkin game By Tiziano De Angelis; Erik Ekstr\"om
  185. Turismo en el fin del mundo: estimaciones econométricas de perfiles de demanda turística invernal en Ushuaia (Argentina) By Kataishi, Rodrigo; Pérez, Lucía; Durán, Laura
  186. National Quality Partners Playbookâ„¢: Improving Access to High-Quality Care for Individuals with Serious Mental Illness By The NQP Serious Mental Illness Action Team; which included Mathematica staff.
  187. An Examination of the Impact That Electric Vehicle Incentives Have on Consumer Purchase Decisions Over Time By Jenn, Alan; Lee, Jae Hyun; Hardman, Scott; Tal, Gil
  188. Les ICO la nouvelle façon de lever des fonds sans contrainte ? By Dominique Guegan
  189. Persistenz von Selbstständigen in der Grundsicherung By Pahnke, André; Schneck, Stefan; Wolter, Hans-Jürgen
  190. Farming efficiency, cropland rental market and welfare effect: Evidence from panel data for rural Central Vietnam By Nguyen, Trung Thanh; Tran, Viet Tuan; Nguyen, Thanh-Tung; Grote, Ulrike
  191. Structural experimentation to distinguish between models of risk sharing with frictions in rural Paraguay By Ligon, Ethan; Schechter, Laura
  192. Inconsistent Time Preferences and On-the-job Search - When it Pays to be Naive By Matthias Fahn; Regina Seibel
  193. The importance of Punishment Substitutability in Criminometric Studies By Eugene Braslavskiy; Firmin Doko Tchatoka; Virginie Masson
  194. Crop prices and migration in Viet Nam By Narciso Gaia
  195. Der Brexit und die ökonomische Identität Großbritanniens: Zwischen globalem Freihandel und ökonomischem Nationalismus By Suckert, Lisa
  196. Determinants of the Factors Affecting Willingness to par for Improved Sanitation Among Rural Households in Oyo State Nigeria By Dare, A.M.; Ayinde, I.A.; Shittu, A.M.; Akerele, D.; Sam-Wobo, S.O.
  197. Understanding the boom: Country study—Tanzania By Henstridge Mark
  198. Does Access to Agricultural Credit Explain Land Use Choice? A Case of Odukpani in Cross River State, Nigeria By Etowa, Egbe B.; Elum, Zelda A.; Mwiido, Wmmanuel D.
  199. Equilibrium real exchange rate estimates across time and space By Fischer, Christoph
  200. Do Banking Crises Improve Democracy? By Beni Kouevi Gath; Pierre-Guillaume Méon; Laurent Weill
  201. The Strategic Display of Emotions By Chen, Daniel; Hopfensitz, Astrid; van Leeuwen, Boris; van de Ven, J.
  202. Financial supervision aspects regarding surveillance of the insurance market By Catalin Goia
  203. The role of the construction sector By Viarengo Martina; Kirchberger Martina
  204. Guilt Aversion in Economics and Psychology By Bellemare, Charles; Sebald, A.; Suetens, Sigrid
  205. A data-driven public sector: Enabling the strategic use of data for productive, inclusive and trustworthy governance By Barbara Ubaldi; Charlotte Van Ooijen; Benjamin Welby
  206. IFAD IMPACT ASSESSMENT - Project for rural income through exports (PRICE): Rwanda By Athur, Mabiso; Mohamed, Abouaziza; Benjamin, D. K. Wood; Tim, Balint
  207. Policies and Agribusiness Development: The Nigerian Experience By Tijani, I.A.; Alawode, O.O.; Fawehinmi, o.O.; Gafar, A.O; Kolade, O.A.
  208. Tracking the Sustainable Development Goals: Emerging measurement challenges and further reflections By Hai-Anh H. Dang; Umar Serajuddin
  209. Zambia’s mining windfall tax By Lundstøl Olav; Isaksen Jan
  210. Institutions and Asia’s development: The role of norms and organizational power By Khan Mushtaq
  211. R&D, innovation and productivity By Mohnen, Pierre
  212. Higher order approximation of call option prices under stochastic volatility models By Archil Gulisashvili; Ra\'ul Merino; Marc Lagunas; Josep Vives
  213. The Qatar-Gulf Crisis and Risk Management in Oil and Gas Markets By Jamal Bouoiyour; Refk Selmi
  214. A short history of India's economy : A chapter in the Asian drama By Basu Kaushik
  215. Property Rights Insecurity and Agriculture Land Market - The Inherited Challenge of the Post-communist Land Reform in Albania By Zhllima, Edvin; Imami, Drini; Rama, Klodjan
  216. The role of the construction sector in Ghana By Owoo Nkechi; Lambon-Quayefio Monica
  217. Caracterización de modelos de comunicación digital en organizaciones del Tercer Sector By Zanfrillo, Alicia Inés; Artola, María Antonia
  218. School Nutrition and Meal Cost Study Final Report Volume 1: School Meal Program Operations and School Nutrition Environments By Sarah Forrestal; Charlotte Cabili; Dallas Dotter; Christopher W. Logan; Patricia Connor; Maria Boyle; Ayesha Enver; Hiren Nissar
  219. Confidence biases and learning among intuitive Bayesians By Louis Lévy-Garboua; Muniza Askari; Marco Gazel
  220. Immigration and Economic Growth By George J. Borjas
  221. An alternative class of distortion operators By Dominique Guegan; Bertrand Hassani; Kehan Li
  222. Die Revitalisierung von Shopping-Centern in Deutschland: Auswirkungen aktueller Trends auf das Shopping-Center Konzept By Bauer, Christine; Rock, Verena
  223. Common Learning and Cooperation in Repeated Games By Takuo Sugaya; Yuichi Yamamoto
  224. Do LPG Prices React to the Entry of Natural Gas? Implications for Competition Policy By Aldo González; Vicente Lagos
  225. Socio-economic development in South Asia: The past 50 years By Osmani S.
  226. Study on the correlation between the development of the capital market and the economic growth by groups of countries By Ioana-Maria Dobjanschi
  227. Pension Funds and Risk-sharing in the Finnish Earnings-related Pension System By Lassila, Jukka; Valkonen, Tarmo
  228. Co- Integration and Causality Analysis in Major Natural Rubber Markets of Nigeria By Agbonkpolor N.B.; Alufohai G.O.; Mesike C.S.; Adindu, A.G.
  229. Employment protection reform in European labor markets: the collective bargaining regime matters. By Francesco De Palma; Yann Thommen
  230. Computational Socioeconomics By Jian Gao; Yi-Cheng Zhang; Tao Zhou
  231. Migration Fear, Uncertainty, and Macroeconomic Dynamics By Michael Donadelli; Luca Gerotto; Marcella Lucchetta; Daniela Arzu
  232. Serving Time: Volunteer Work, Liminality and the Uses of Meaningfulness at Music Festivals By Maria Laura Toraldo; Gazi Islam; Gianluigi Mangia
  233. Creating shared value through implementing vocational rehabilitation in the corporate social responsibility strategy: A literature review By Miethlich, Boris; Šlahor, Ľudomír
  234. Local Groups and the Accumulation of Capital in the Consumer Electronics Sector in Argentina (2003-2014) By Joel Rabinovich
  235. The role of pawnshops in risk coping in early twentieth-century Japan By Tatsuki Inoue
  236. A macroeconomic perspective on Asian development By Bhaduri Amit
  237. A Proof of Blackwell's Theorem By Eduardo Perez
  238. A Proof of Blackwell's Theorem By Eduardo Perez
  239. Persuasion on Networks By Egorov, Georgy; Sonin, Konstantin
  240. Effects of Parental Job Loss and Insecurity on Children’s Health: Evidence from Korea By Lee, Y-W.;
  241. Sraffian Indeterminacy in General Equilibrium Revisited By Naoki Yoshihara; Se Ho Kwak
  242. The European venture capital landscape: an EIF perspective. Volume V: The economic impact of VC investments supported by the EIF By Pavlova, Elitsa; Signore, Simone
  243. On the Empirical (Ir)Relevance of the Zero Lower Bound Constraint By Davide Debortoli; Jordi Galí; Luca Gambetti
  244. The Fed’s Balance Sheet: The 37th Annual Monetary and Trade Conference By Harker, Patrick T.
  245. Employment of persons with disabilities as a corporate social responsibility initiative: Necessity and variants of implementation By Miethlich, Boris; Šlahor, Ľudomír
  246. Impacts of agricultural price support policies on price variability and welfare: evidence from China’s soybean market By Wang, Wenting; Wei, Longbao
  247. Fairness Views and Political Preferences - Evidence from a representative sample By Mueller Daniel; Sander Renes
  248. Unexpected effects of land fragmentation By Hoang Trung
  249. Alphabetized co-authorship in economics reconsidered By Wohlrabe, Klaus; Bornmann, Lutz
  250. Working Paper 10-18 - Le fonctionnement du modèle HERMES - Description à l’aide de variantes By Delphine Bassilière; Ludovic Dobbelaere; Filip Vanhorebeek
  251. Convergence in House Prices: Cross-Regional Evidence for Turkey By Aytul Ganioglu; Unal Seven
  252. Tax-motivated transfer mispricing in South Africa: Direct evidence using transaction data By Wier Ludvig
  253. Generating univariate fractional integration within a large VAR(1) By Guillaume Chevillon; Alain Hecq; Sébastien Laurent
  254. Avances y pendientes en la legislación y programas de empleo para personas con discapacidad intelectual desde la perspectiva de instituciones y beneficiarios durante 2017 By Alvarez, María Julia; Labrunée, María Eugenia
  255. Top incomes in China: Data collection and the impact on income inequality By Li Shi; Wan Haiyuan; Li Qinghai
  256. Poverty and inequality in Asia: 1965-2014 By Wan Guanghua; Wang Chen
  257. Effects of Domestic Remittances on poverty Status of Rural Households in Ogun State By Tolorunju, E.T.; Dipeolu, A.O.; Sansuni, R.A.; Akerele, D.; Oladeji, S.O.; Edewor, S.E.; Ogbe, A.O.
  258. Der vergessene Lippmann: Politik, Propaganda und Markt By Ötsch, Walter; Graupe, Silja
  259. Humanitarian economics By Carbonnier Gilles
  260. Cross-Border Financial Effects of Global Warming In a Two-Area Ecological SFC Model By Emilio Carnevali; Matteo Deleidi; Riccardo Pariboni; Marco Veronese Passarella
  261. Does union membership pay off?: Evidence from Vietnamese SMEs By Torm Nina
  262. Les entreprises ont-elles une responsabilité culturelle ? Mission réelle ou faux concept : l'exemple des GAFA By Pierre Schweitzer
  263. Quantifying the contribution of a subpopulation to inequality: An application to Mozambique By Gradín Carlos
  264. Understanding labour market developments in New Zealand, 1986-2017 By Dean Hyslop; Amy Rice; Hayden Skilling
  265. Understanding the boom: A framing paper By Henstridge Mark
  266. The Transition of Corruption - Institutions and dynamics By Martin Paldam
  267. The Competitive Impact of Branded Generic Medicine in a Developing Country By Roberto Álvarez; Aldo González; Sebastian Fernández
  268. The influence of capital structure on financial performance of microfinance institutions By Razvan-Gabriel Hapau
  269. Test Design Under Falsification By Eduardo Perez; Vasiliki Skreta
  270. Test Design Under Falsification By Eduardo Perez; Vasiliki Skreta
  271. Impacts of accessing extension on agricultural production profit: Empirical evidence from the Viet Nam Access to Rural Households Survey By Thiep Do; Nhung Thi
  272. Impact is not just volatility By Fr\'ed\'eric Bucci; Iacopo Mastromatteo; Michael Benzaquen; Jean-Philippe Bouchaud
  273. Dynamically Aggregating Diverse Information By Annie Liang; Xiaosheng Mu; Vasilis Syrgkanis
  274. The Role of Electricity Prices in Structural Transformation: Evidence from the Philippines By Majah-Leah V. Ravago; Arlan Zandro I. Brucal; James Roumasset; Jan Carlo Punongbayan
  275. Can religious institutions promote sustainable behavior? Field experimental evidence on donations towards a carbon-offsetting fund By Feldhaus, Christoph; Gleue, Marvin; Löschel, Andreas
  276. Can safety training contribute to enhancing safety? By Corinne Bieder
  277. Parallel Search for Information By T. Tony Ke; Wenpin Tang; J. Miguel Villas-Boas; Yuming Zhang
  278. An Integrated Panel Data Approach to Modelling Economic Growth By Jiti Gao; Guangming Pan; Yanrong Yang; Bo Zhang
  279. Partial Language Competence By Jeanne Hagenbach; Frédéric Koessler
  280. Partial Language Competence By Jeanne Hagenbach; Frédéric Koessler
  281. Price-cost margin and bargaining power in the European Union By Soares, Ana Cristina
  282. Trade Policy Space and Foreign Direct Investment Inflows By Gnangnon, Sena Kimm
  283. A novel supply-side measure to combat abuse of addictive prescription drugs By Alexander Ahammer
  284. Pro-poor growth in Indonesia: Challenging the pessimism of Myrdal’s Asian Drama By Timmer Peter
  285. Selling Hollywood to China By McMahon, James
  286. Do local public expenditures on sports facilities affect sports participation in Germany? By Steckenleiter, Carina; Lechner, Michael; Pawlowski, Tim; Schüttoff, Ute
  287. Intergenerational Precautionary Saving in Europe By Francesco Scervini; Serena Trucchi
  289. Estado actual de la implementación de las Normas Internacionales de Información Financieras (NIIF) en PyMEs de la ciudad de Montería, Colombia By Fuentes-Doria, Deivi D.; García-Alarcón, Héctor A.; Toscano-Hernández, Aníbal E.
  290. The breadth of preferential trade agreements and the margins of exports By Falvey, Rod; Foster-McGregor, Neil
  291. IFAD IMPACT ASSESSMENT - Smallholder commercial agriculture project (PAPAC) and participatory smallholder agriculture and artisanal fisheries development programme (PAPAFPA) By Alessandra, Garbero; Martina, Improta; Sónia, Gonçalves
  292. Does Economic Freedom Boost Growth for Everyone? By Bergh, Andreas; Bjørnskov, Christian
  293. A Solvable Two-dimensional Optimal Stopping Problem in the Presence of Ambiguity By S\"oren Christensen; Luis H. R. Alvarez E
  294. Implications of modifying internal managerial control regulations for a uniform risk management methodology regarding non-reimbursable financing By Ciprian Nicolae
  295. The Impact of Financialization on the Rate of Profit: A Discussion By Di Bucchianico, Stefano
  296. Shipping the good apples under strategic competition By Creane, Anthony
  297. Forecasting Causes of Death using Compositional Data Analysis: the Case of Cancer Deaths By Søren Kjærgaard; Yunus Emre Ergemen; Malene Kallestrup-Lamb; Jim Oeppen; Rune Lindahl-Jacobsen
  298. Interdependence of sectors of economic activities for world countries from the reduced Google matrix analysis of WTO data By C\'elestin Coquid\'e; Jos\'e Lages; Dima L. Shepelyansky
  299. Natural resources, structural change, and industrial development: Local content in Zambia—a faltering experience? By Lombe Wilfred
  300. Having a different pointing of view about the future : The effect of signs on co-speech gestures about time in Mandarin–CSL bimodal bilinguals By Gu, Yan; Zheng, Yeqiu; Swerts, Marc
  301. Who Would Win from a Multi-rate GST in New Zealand: Evidence from a QUAIDS Model By Thomas, Alastair
  302. "The market deals out profit and losses": Wie ökonomische Standardlehrbücher das unreflektierte Denken in Metaphern fördern By Graupe, Silja; Steffestun, Theresa
  303. Static use of options in dynamic portfolio optimization under transaction costs and solvency constraints By Stefano Baccarin
  304. Deep Haar Scattering Networks in Unidimensional Pattern Recognition Problems By Fernando Fernandes Neto; Claudio Garcia, Rodrigo de Losso da Silveira Bueno, Pedro Delano Cavalcanti, Alemayehu Solomon Admas
  305. What Moves the German Land Market? A Decomposition of the Land Rent-Price Ratio By Plogmann, Jana; Mußhoff, Oliver; Odening, Martin; Ritter, Matthias
  306. Alternative visions : permaculture as imaginaries of the anthropocene By Roux-Rosier Anahid; Ricardo Azambuja; Gazi Islam
  307. My journey through the history of development economics By Thorbecke Erik
  308. Market and Network Corruption By Maria Kravtsova; Aleksey Oshchepkov
  309. Who is willing to stay sick for the collective? – Individual characteristics, experience, and trust By Carlsson, Fredrik; Jacobsson, Gunnar; Jagers, Sverker C.; Lampi, Elina; Robertsson, Felicia; Rönnerstrand, Björn
  310. IFAD IMPACT ASSESSMENT - Guangxi integrated agricultural development project (GIADP): China By Alessandra, Garbero; Tisorn, Songsermsawas
  311. Desarrollo económico regional, especializaciones productivas y cooperación empresarial. Un estudio comparado de Chile, El Salvador, Paraguay y Uruguay By Adrián Rodrí­guez Miranda; Pablo Galasso; Pedro Argumedo; Sebastián Goinheix; Camilo Martí­nez; Fernando Masi; Santiago Picasso; Ignacio Rodrí­guez; Paulina Sanhuezad; Belén Servin
  312. Political-Business Cycles in BRICS Economies: Evidence from Brazil By Celso José Costa Junior; Alejandro C. García Cintado; Manuel Alejandro Hidalgo Pérez
  313. Political conflict and domestic violence in Nigeria By Neha Hui
  314. Natural Resource Exports, Foreign Aid and Terrorism By Simplice A. Asongu
  315. Factors Influencing the Gulf and Pacific Northwest (PNW) Soybean Export Basis: An Exploratory Statistical Analysis By Bullock, David W.; Wilson, William W.
  316. Crises and Emissions: New Empirical Evidence from a Large Sample By João Tovar Jalles
  317. A new inequality estimate for urban India?: Using house prices to estimate inequality in Mumbai By Rongen Gerton
  318. Referenda Under Oath By Nicolas Jacquemet; Alexander James; Stéphane Luchini; Jason Shogren
  319. Hurricanes, Climate Change Policies and Electoral Accountability By Stefano Gagliarducci; M. Daniele Paserman; Eleonora Patacchini
  320. Global Liquidity and the Impairment of Local Monetary Policy Transmission By Salih Fendoglu; Eda Gulsen; Josè-Luis Peydro
  321. How internationalization and competitiveness contribute to get public support to innovation? The Portuguese case By Anabela Santos; Michele Cincera; Paulo Neto; Maria Manuel Serrano
  322. Technology Choice, Financial Sector and Economic Integration under the Presence of Efficiency Wages By Wen, Lei; Zhou, Haiwen
  323. Consciousness is more than meets the eye: a call for a multisensory study of subjective experience By Nathan Faivre; Anat Arzi; Claudia Lunghi; Roy Salomon
  324. Reflexiones sobre la concentración pesquera y las cuotas individuales de captura en Argentina By Gualdoni, Patricia; Baltar, Fabiola; Pagani, Andrea N.; Gaviola, Saúl Ricardo
  325. The role of natural resources in production: Georgescu-Roegen/ Daly versus Solow/ Stiglitz By Quentin Couix
  326. Do upfront investments increase cooperation? A laboratory experiment By Fortuna Casoria; Alice Ciccone
  327. Is Volatility Rough ? By Masaaki Fukasawa; Tetsuya Takabatake; Rebecca Westphal
  328. Do upfront investments increase cooperation? A laboratory experiment By Fortuna Casoria; Alice Ciccone
  329. The connection between multiple prices of an Option at a given time with single prices defined at different times: The concept of weak-value in quantum finance By Ivan Arraut; Alan Au; Alan Ching-biu Tse; Carlos Segovia
  330. Modeling and Markov chains By Philippe Cohard
  331. Do forest-management plans and FSC certification reduce deforestation in the Congo basin? By Isabelle Tritsch; Gwenolé Le Velly; Benoit Mertens; Patrick Meyfroidt; Christophe Sannier; Jean-Sylvestre Makak; Kenneth Houngbedji
  332. The Maturity of Sovereign Debt Issuance in the Euro Area By Beetsma, Roel; de Jong, Frank; Giuliodori, Massimo; Hanson, Jesper
  333. State Finance Commissions: How successful have they been in Empowering Local Governments? By Gupta, Manish; Chakraborty, Pinaki
  334. Using the Tools of Industrial Organization to Illuminate the Credit Rating Industry By Lawrence J. White
  335. Trade Blocs and Trade Wars during the Interwar Period By David S. Jacks; Dennis Novy
  336. Construction and public procurement in Uganda By Colonnelli Emanuele; Ntungire Nicole
  337. Climate change, rice production, and migration in Vietnamese households By Ricciuti Roberto; Baronchelli Adelaide
  338. Implications of Land Market Imperfections on Policy Design By Tavrov, Dan; Nivievskyi, Oleg
  339. Occupational gender segregation in post-apartheid South Africa By Gradín Carlos
  340. Wirtschaftlichkeit der Alternativen zur betäubungslosen Ferkelkastration - Aktualisierung und Erweiterung der betriebswirtschaftlichen Berechnungen By Verhaagh, Mandes; Deblitz, Claus
  341. Informe Sociolaboral del Partido de General Pueyrredon By Universidad Nacional de Mar del Plata, Facultad de Ciencias Económicas y Sociales, Grupo Estudios del Trabajo
  342. Blockchain Publique versus Blockchain Privée : Enjeux et Limites By Dominique Guegan
  343. Rental markets, gender, and land certificates: Evidence from Viet Nam By Ayala-cantu Luciano; Morando Bruno
  344. A false divide? Correcting beliefs about inequality aligns preferences for redistribution between right and left-wing voters By Christopher Hoy; Russell Toth
  345. Best practices for the risk based approach assessment of the anti-money laundering program within a financial institutionBest practices for the risk based approach assessment of the anti-money laundering program within a financial institution By Ioana Ana-Maria Codescu
  346. An Evolutionary Justification for Overconfidence By Gannon, Kim; Zhang, Hanzhe
  347. Why do (or don't) people carpool for long distance trips? A discrete choice experiment in France By Guillaume Monchambert
  348. Changing Conditions, Persistent Mentality: An Anatomy of East German Unhappiness, 1990-2016 By Philipp Biermann; Heinz Welsch
  349. Empirical challenges comparing inequality across countries: The case of middle-income countries from the LIS database By Checchi Daniele; Cupak Andrej; Munzi Teresa; Gornick Janet
  350. Can RCTs help improve the design of CAP By Luc Behaghel; Karen Macours; Julie Subervie
  351. Asset Pricing with General Transaction Costs: Theory and Numerics By Lukas Gonon; Johannes Muhle-Karbe; Xiaofei Shi
  352. Associations of childhood health and financial situation with quality of life after retirement: Regional variation across Europe By Börnhorst, Claudia; Heger, Dörte; Mensen, Anne
  353. Asymptotics of Cholesky GARCH models and time-varying conditional betas By Serge Darolles; Christian Francq; Sébastien Laurent
  354. How does joint evolution of social trust and land administration shape economic outcomes?: Evidence from Viet Nam By Dang Duc; Dang Kim; Vu Thi
  355. Partisanship and local fiscal policy : evidence from Brazilian cities By Raphael Gouvea; Daniele Girardi
  356. The political economy of educational policies and inequality of opportunity By Vincenzo Prete; Claudio Zoli
  357. What is the Impact of an Exogenous Shock to the Wage Share? VAR Results for the US Economy, 1973–2018 By Deepankar Basu; Leila Gautham
  358. “Free to do what I want”? Exploring the ambivalent effects of liberating leadership By Hélène Picard; Gazi Islam
  359. The impact of forecast errors on fiscal planning and debt accumulation By Ademmer, Martin; Boysen-Hogrefe, Jens
  360. Anatomy of Regional Price Differentials: Evidence From Micro Price Data By Sebastian Weinand; Ludwig von Auer
  361. Spousal Labour Supply Adjustments By Stephanie Lluis; Brian McCall
  362. Fiscal Austerity and Migration: A Missing Link By Guilherme Bandeira; Jordi Caballe; Eugenia Vella
  363. School Nutrition and Meal Cost Study Final Report Volume 2: Nutritional Characteristics of School Meals By Elizabeth Gearan; Mary Kay Fox; Katherine Niland; Dallas Dotter; Liana Washburn; Patricia Connor; Lauren Olsho; Tara Wommack
  364. Blockchain publique et contrats intelligents (Smart Contrats). Les possibilités ouvertes par Ethéreum... et ses limites By Dominique Guegan
  365. Research of inflation rate and its determinants: An analysis of GSK corporation in United States By meiyi, chen
  366. Working Paper 06-18 - Non-recours aux réductions de cotisations patronales : le cas de la mesure "premiers engagements" By Elise Boucq; Maritza López-Novella
  367. On the Cyclicality of Social Expenditure: New Time-Varying evidence from Developing Economies By João Tovar Jalles
  368. Altruism and Risk Sharing in Networks By Renaud Bourlès; Yann Bramoullé; Eduardo Perez
  369. Altruism and Risk Sharing in Networks By Renaud Bourlès; Yann Bramoullé; Eduardo Perez
  370. Too Little Lending: A Problem of Symmetric Information By de Meza, David; Reito, Francesco
  371. Measuring Commuting in the American Time Use Survey By Kimbrough, Gray
  372. Non-Asymptotic Inference in a Class of Optimization Problems By Joel Horowitz; Sokbae Lee
  373. Reduced Form Capital Optimization By Yadong Li; Dimitri Offengenden; Jan Burgy
  374. Réactions des managers TI / SI face aux pratiques institutionnalisées By Sofianne Messaoudi Escarabajal; Régis Meissonier; Claudio Vitari
  375. China’s growth miracle in the context of Asian transformation By Lin Justin
  376. Demographic Developments and Their Macroeconomic Impacts By M. Koray Kalafatcilar
  377. Escaping the periphery: The East Asian ‘mystery’ solved By Wade Robert
  378. Role of the construction sector and key bottlenecks to supply response in Tanzania By Kikwasi Geraldine; Escalante Cecilia
  379. Approval voting and Shapley ranking. By Pierre Dehez; Victor Ginsburgh
  380. Finance and Wealth Inequality By Iftekhar Hasan; Roman Horvath; Jan Mares
  381. Vector Autoagressive (VAR) Analysis of the Dynamic Link Among Producer Prices, Area and Yield of Cassava in Nigeria By Abu, Orefi
  382. Open Innovation in KMU: Eine empirische Analyse ausgewählter Faktoren By Messer, Julia; Martin, Alexander
  383. Corporate Governance Index And Its Determinants In Samsung Company By Lim, Guan Ta
  384. Does private aid follow the flag? An empirical analysis of humanitarian assistance By Fuchs, Andreas; Öhler, Hannes
  385. IFAD IMPACT ASSESSMENT - Livestock and pasture development project (LPDP): Tajikistan By Romina, Cavatassi; Paola, Mallia
  386. Towards estimating happiness using social sensing : Perspectives on organizational social network analysis By Atzmueller, Martin; Kolkman, Daan; Liebregts, Werner; Haring, Arjan
  387. A Bibliometric Analysis of the Knowledge Exchange Patterns between Major Technology and Innovation Management Journals (1999-2013) By Shikhar Sarin; Christophe Haon; Mustapha Belkhouja
  388. Resource allocation by frugal majority rule By Nehring, Klaus; Puppe, Clemens
  389. Working Paper 08-18 - Comprendre le non-recours aux mesures de réductions de cotisations patronales : une approche méthodologique mixte By Elise Boucq; Maritza López-Novella
  390. The persisting US trade deficit Is protectionism the right answer? By Riccardo Fiorentini
  391. Traveler’s dilemma : how the value of the luggage influences behavior. By Gisèle Umbhauer
  392. Biased Forecasts to Affect Voting Decisions? The Brexit Case By Cipullo, Davide; Reslow, André
  393. Consumer's Preference for Honey in Ibadan North Local Government Area of Oyo State, Nigeria By A., Obisesan Adekemi; A., Olasoji Oluwaseyi
  394. Fundamental Moments By Imbs, Jean; Pauwels, Laurent
  395. Structural adjustment, mass lay-offs and employment reallocation By Filipe Silva; Carlo Menon; Paolo Falco; Duncan MacDonald
  396. Present Bias and Underinvestment in Education? Long-run Effects of Childhood Exposure to Booms in Colombia By Carrillo, Bladimir
  397. School Segregation and Racial Gaps in Special Education Identification By Todd E. Elder; David N. Figlio; Scott A. Imberman; Claudia I. Persico
  398. Uganda’s oil: How much, when, and how will it be governed? By Wolf Sebastian; Potluri Vishal
  399. Private Protection and Public Policing By Ross Hickey; Steeve Mongrain; Joanne Roberts; Tanguy van Ypersele
  400. Does Prior Achievement Matter? Early Tracking and Immigrant Children in Europe By ALIEVA Aigul; HILDEBRAND Vincent
  401. Financial sector reforms in India. By Pandey, Radhika; Patnaik, Ila
  402. Unemployed or Disabled? Disability Screening and Labor Market Outcomes of Youths By Schreiner, Ragnhild C.
  403. Updates to Household Inflation Expectations: Signal or Noise? By Yongchen Zhao
  404. What are the effects of technology shocks on international labor markets? By Rujin, Svetlana
  405. Comparing global inequality of income and wealth By Shorrocks Anthony; Davies James
  406. Avoiding Backtesting Overfitting by Covariance-Penalties: an empirical investigation of the ordinary and total least squares cases By Adriano Koshiyama; Nick Firoozye
  407. The financial stability index (3) – Estimated by the Institute of Financial Studies By Ion Stancu; Andrei Tudor Stancu; Iulian Panait
  408. Working Paper 01-19 - Future evolution of the car stock in Belgium: CASMO, the new satellite of PLANET By Laurent Franckx
  409. Reacting to the Lucas Critique: The Keynesians' Pragmatic Replies By Aurélien Goutsmedt; Erich Pinzón-Fuchs; Matthieu Renault; Francesco Sergi
  410. When Less is More: Historical Yield Data and Rating Area Crop Insurance Products By Liu, Yong; Ker, Alan P.
  411. Measuring the effect of competitive teacher recruitment on student achievement: Evidence from Ecuador By Araujo P., Maria Daniela
  412. Ihracat ve Ithalatta Gelir ve Göreli Fiyat Etkilerinin Ayristirilmasi By Ozgur Ozel; Aysu Celgin; Mert Gokcu
  413. Climate change and the extractives sector By Addison Tony
  414. Contribution of Foreign Direct Investment to Agricultural Productivity in Nigeria By Edewor, S. E.; Dipeolu, A.O.; Ashaolu O. F.; Akinbode, S.O.; Ogbe, A. O.; Edewor, A.O.; Tolorunju, E. T.; Oladeji S.O.
  415. The Microfinance Alphabet By Marek Hudon; Marc Labie; Ariane Szafarz
  416. Wage growth and inequality in urban China: 1988–2013 By Gustafsson Björn; Wan Haiyuan
  417. Marital Property Laws and Women’s Labour Supply By Stephanie Lluis; Yazhuo (Annie) Pan
  418. Working Paper 04-19 - Tax incentives for business R&D in Belgium - Third evaluation By Michel Dumont
  419. Are Estimates of Early Education Programs Too Pessimistic? Evidence from a Large-Scale Field Experiment that Causally Measures Neighbor Effects By List, John; Momeni, Fatemeh; Zenou, Yves
  420. Sober optimism and the formation of international environmental agreements By Hiroaki SAKAMOTO; Larry KARP
  421. Ressources naturelles, innovation et développement économique : vers une nouvelle approche By Mounir Amdaoud
  422. Perceived IT Ambiguity: Development of a Measurement Instrument By Jean-Charles Pillet; Kevin Carillo; Federico Pigni; Claudio Vitari
  423. The financial stability index (5) – Estimated by the Institute of Financial Studies By Ion Stancu; Andrei Tudor Stancu; Iulian Panait
  424. A game theory approach to optimizing the banking and financial resolution framework By Gabriel Mitache
  425. Did the Egyptian protests lead to change? Evidence from Egypt's first free Presidential elections By Nelly El-Mallakh
  426. Exploring the role of trade facilitation in supporting integrity in trade By Evdokia Moïsé; Silvia Sorescu
  428. Regression Discontinuity Design with Multiple Groups for Heterogeneous Causal Effect Estimation By Takayuki Toda; Ayako Wakano; Takahiro Hoshino
  429. Weather Shocks By Ewen Gallic; Gauthier Vermandel
  430. Is there a loyalty-enhancing effect of retroactive price-reduction schemes? By Lisa Bruttel
  431. Comparing the impact of vocational rehabilitation and the employment of persons with disabilities on companies: Analysis of existing research By Miethlich, Boris
  432. Optimizing the allocation of private pension funds in Romania (2nd Pillar) By Leonardo Badea; Ion Stancu; Adina-Alexandra Darman-Guzun
  433. Avoiding a “No Deal” Scenario: Free Trade Agreements, Citizenship and Economic Rights By Ojo, Marianne
  434. Working Paper 05-18 - Insights in a clean energy future for Belgium - Impact assessment of the 2030 Climate & Energy Framework By Danielle Devogelaer; Dominique Gusbin
  435. Tax Stabilisation, Trade and Political Transitions in Francophone West Africa over 120 Years By Andersson, Jens
  436. What is the Minimal Systemic Risk in Financial Exposure Networks? By Christian Diem; Anton Pichler; Stefan Thurner
  437. Mindfulness, preferences and well-being: Mindfulness predicts adolescents' field behaviour By Lima de Miranda, Katharina
  438. Learning about Competitors: Evidence from SME Lending By Darmouni, Olivier; Sutherland, Andrew
  439. Socio-economic and ecological transition in community supported agriculture: from the 'transitional' to the 'ideal' CSA By Roxana Bobulescu; Nhu Tuyên Lê; Claudio Vitari; Erin Whittingham
  440. European Forest Accounts - Années 2014-2015. By Benjamin Piton; Alexandra Niedzwiedz
  441. Regulating the Land Market on the Basis of Incomplete Information: the case of Romania By Luca, Lucian
  442. Simulating policy options for universal child allowances in Ghana By Evans Martin
  443. Rowing against the current: Diversification in Africa’s resource-rich economies By Page John
  444. Employment and second childbirths in Europe By Angela Greulich; Mathilde Guergoat-Larivière; Olivier Thevenon
  445. Réduire les divergences en zone euro en régulant les cycles financiers By Jézabel Couppey-Soubeyran; Salim Dehmej
  446. Comptes d’épargne santé : vers un nouveau mode de financement des soins ? By Isabelle Hirtzlin
  447. Selling Data By Carlos Segura-Rodriguez
  448. Bitcoin : la revanche inattendue des libertariens By Pierre Schweitzer
  449. Do information contagion and business model similarities explain bank credit risk commonalities? By Wang, Dieter; van Lelyveld, Iman; Schaumburg, Julia
  450. Surveillance numérique et raison d'Etat : doit-on tout savoir ? By Pierre Schweitzer
  451. Credit Risk Analysis Using Machine and Deep Learning Models By Dominique Guegan; Peter Addo; Bertrand Hassani
  452. Extreme inflation and time-varying consumption growth By Dergunov, Ilya; Meinerding, Christoph; Schlag, Christian
  453. Family and Government Insurance: Wage, Earnings, and Income Risks in the Netherlands and the U.S. By Mariacristina De Nardi; Giulio Fella; Marike G. Knoef; Gonzalo Paz-Pardo; Raun Van Ooijen
  454. From fundamentals to financial assets: the evolution of understanding price formation in the EU ETS By Friedrich, Marina; Mauer, Eva-Maria; Pahle, Michael; Tietjen, Oliver
  455. Approximation of Optimal Transport problems with marginal moments constraints By Aur\'elien Alfonsi; Rafa\"el Coyaud; Virginie Ehrlacher; Damiano Lombardi
  456. Personal Information Disclosure under Competition for Benefits: Is Sharing Caring? By Viola Ackfeld; Werner Güth
  457. Results of the North Dakota Land Valuation Model for the 2019 Agricultural Real Estate Assessment By Haugen, Ronald
  458. Migration of higher education students from North Africa Region By Satti Osman Mohamed Nour, Samia
  459. Can Blockchain Solve the Hold-up Problem in Contracts? By Richard T. Holden; Anup Malani
  460. Carnet de bal des accords commerciaux régionaux By Lionel Fontagné; Gianluca Santoni
  461. Practical Volume Computation of Structured Convex Bodies, and an Application to Modeling Portfolio Dependencies and Financial Crises By Ludovic Calès; Apostolos Chalkis; Ioannis Emiris; Vissarion Fisikopoulos
  462. A Three-state Opinion Formation Model for Financial Markets By Bernardo J. Zubillaga; Andr\'e L. M. Vilela; Chao Wang; Kenric P. Nelson; H. Eugene Stanley
  463. Family and Government Insurance: Wage, Earnings, and Income Risks in the Netherlands and the U.S. By De Nardi, Mariacristina; Fella, Giulio; Knoef, Marike; Van Ooijen, Raun
  464. Employment Effects of Offshore Oil and Gas Regulations By Payson, Steven; Sloboda, Brian W.
  465. A Safe Minimum Standard, an Elasticity of Substitution, and the Cleanup of the Ganges in Varanasi By Xing, Shiqi; Batabyal, Amitrajeet
  466. New Evidence on Long-Term Effects of Start-Up Subsidies: Matching Estimates and their Robustness By Marco Caliendo; Stefan Tübbicke
  467. The impact of Airbnb on residential property values and rents: evidence from Portugal By Sofia F. Franco, Carlos Daniel Santos, Rafael Longo
  468. Pitfalls of Two Step Testing for Changes in the Error Variance and Coefficients of a Linear Regression Model By Perron, Pierre; Yamamoto, Yohei
  469. Examining CEOs' behavior related to BYOD implementation through the CMUA By Paméla Baillette; Yves Barlette
  470. Identifying Present-Bias from the Timing of Choices By Paul Heidhues; Philipp Strack
  471. Assessing recent reforms and policy directions in France: Implementing the OECD Jobs Strategy By Stéphane Carcillo; Antoine Goujard; Alexander Hijzen; Stefan Thewissen
  472. Indication-Based Pricing (IBP) Discussion Paper: Should drug prices differ by indication? By Cole, A.; Towse, A.; Zamora, B.
  473. The financial stability index (4) – Estimated by the Institute of Financial Studies By Ion Stancu; Andrei Tudor Stancu; Iulian Panait
  474. Quels liens entre les politiques de libre choix des établissements et la mixité sociale à l’école ? By OCDE
  475. Is India’s Employment Guarantee Program Successfully Challenging Her Historical Inequalities? By Kartik Misra
  476. How are school-choice policies related to social diversity in schools? By OECD
  477. Enterprise Analyses Across Cassava Agribusiness Value Chain in Niger-Delta Region of Nigeria: Implications for Agribusiness, Women and Youth Policies By Coker, Ayodeji Alexander Ajibola; Molokwu, Christopher C.; Odoemena, Benjamin C.; Tuedogheye, Jeremiah G.; Elega, Julius O.
  478. La Tunisie, les dilemmes d’une innovation touristique sans contrôle By Hatem Hamdi
  479. Credit Risk Analysis using Machine and Deep Learning models By Peter Addo; Dominique Guegan; Bertrand Hassani
  480. The Devil is in the Details: Risk Preferences, Choice List Design, and Measurement Error By Holden , Stein T.; Tilahun , Mesfin
  481. Brazilian exporters and the rise of Global Value Chains: an empirical assessment By Torres Mazzi, Caio
  482. Decentralization of Firms in a Country with Weak Institutions: Evidence from Russia By Irina Levina
  483. Designing a Simple Loss Function for Central Banks: Does a Dual Mandate Make Sense? By Debortoli, Davide; Kim, Jinill; Lindé, Jesper; Nunes, Ricardo
  484. Sanctions and Public Opinion: The Case of the Russia-Ukraine Gas Disputes By William Seitz; Alberto Zazzaro
  485. Do Income Contingent Student Loan Programs Distort Earnings? Evidence from the UK By Jack W. Britton; Jonathan Gruber
  486. School Nutrition and Meal Cost Study Final Report Volume 4: Student Participation, Satisfaction, Plate Waste, and Dietary Intakes By Mary Kay Fox; Elizabeth Gearan; Charlotte Cabili; Dallas Dotter; Katherine Niland; Liana Washburn; Nora Paxton; Lauren Olsho; Lindsay LeClair; Vinh Tran
  487. Revisiting the Relationship between Financial Wealth, Housing Wealth, and Consumption: A Panel Analysis for the U.S. By Dimitra Kontana; Fotios Siokis
  488. Feasible best-response correspondences and quadratic scoring rules By Norde, Henk; Voorneveld, Mark
  489. Does system instability harm development? A comparative empirical study of the long run By Martin Paldam
  490. Decoupling values of agricultural externalities according to scale: a spatial hedonic approach in Brittany By Osseni, Abdel Fawaz; Bareille, François; Dupraz, Pierre
  491. School Nutrition and Meal Cost Study Final Report Volume 3: School Meal Costs and Revenues By Christopher W. Logan; Vinh Tran; Maria Boyle; Ayesha Enver; Matthew Zeidenberg; Michele Mendelson
  492. Working Paper 07-18 - Multiregional Population Projection Model at the EU level By Marie Vandresse
  493. Influence of country rating on national economic growth, before and after euro By Ana Maria Necula; Andrei Tudor Stancu
  494. Statistical reporting inconsistencies in experimental philosophy By Colombo, Matteo; Duev, Georgi; Nuijten, M.B.; Sprenger, Jan
  495. Inference in Differences-in-Differences: How Much Should We Trust in Independent Clusters? By Ferman, Bruno
  496. A Microsimulation Model for the Agricultural Land Rental Market in Ireland By Loughrey, Jason; Hennessy, Thia
  497. Decoupling values of agricultural externalities according to scale: a spatial hedonic approach in Brittany By Abdel Fawaz Osseni; François Bareille; Pierre Dupraz
  498. Errors in the Dependent Variable of Quantile Regression Models By Jerry A. Hausman; Haoyang Liu; Ye Luo; Christopher Palmer
  499. Economic Recessions in Nigeria: An Econometric Investigation of Roles of Crude oil Price Volatility (1970 -2016) By Adeniyi, B.A.; Datul, S.A.; Amat, O.Z.; Omotoso, A.B.
  500. Efficiency of the European banks in the aftermath of the financial crisis: A panel stochastic frontier approach By Cândida Ferreira
  501. The Governance of Risk Management: The Importance of Directors’ Independence and Financial Knowledge By Dionne, Georges; Maalaoui Chun, Olfa; Triki, Thouraya
  502. Structural Transformations and Cumulative Causation: Towards an Evolutionary Micro-foundation of the Kaldorian Growth Model. By Andre Lorentz; Tommaso Ciarli; Maria Savona; Marco Valente
  503. Technologieentwicklung in der Rohstofferkundung - Soziologische Perspektiven By Gerhold, Mona; Glum, Annabel Sophie; Häßler, Pauline; Hemmerling, Maximilian; Kinner, Anja; Kühl, Lukas
  504. Contests with an uncertain number of prizes By François Maublanc; Sébastien Rouillon
  505. Was Slavery a Flexible Form of Labour? Division of Labour and Location Specific Skills on the Eastern Cape Frontier By Links, Calumet; Green, Erik; Fourie, Johan
  506. Entrepreneurial Incentives and the Role of Initial Coin Offerings By Rod Garratt; Maarten van Oordt
  507. The downside of being upbeat: The effects of consumer optimism on real economic activity By Edda Claus, Viet Hoang Nguyen
  508. The fundamental analysis of the capital investment in exchange-traded fund By Alina Cristina Racu
  509. Happier Than Them, but More of Them Are Happy:Aggregating Subjective Well-Being By Cristina Sechel
  510. Asset Pricing with Heterogeneous Beliefs and Illiquidity By Johannes Muhle-Karbe; Marcel Nutz; Xiaowei Tan
  511. Lutte contre les cartels : Comment dissuader les têtes brûlées ? By Béatrice Boulu-Reshef; Constance Monnier-Schlumberger
  512. Prehospital Response Time and Traumatic Injury—A Review By Doggett, Sarah; Ragland, David R.; Felschundneff, Grace
  513. On the General Impossibility of Persistent Unequal Exchange Free Trade Equilibria in the Pre-industrial World Economy By Soh Kaneko; Naoki Yoshihara
  514. Higher Order Information Complementarities and Polarization By Carlos Segura-Rodriguez
  515. Economic Inequality in Ghana, 1891-1960 By Young Aboagye, Prince; Bolt, Jutta
  516. Individual labor market effects of local public expenditures on sports By Pawlowski, Tim; Steckenleiter, Carina; Wallrafen, Tim; Lechner, Michael
  517. Revisiting the methodology of Myrdal in Asian Drama 50 years on By Stewart Frances
  518. Consumers’ Perception of Food Safety Risk From Vegetables: A Rural - Urban Comparison By Thanh Mai Ha; Shamim Shakur; Kim Hang Pham Do
  519. Tax Mechanisms and Gradient Flows By Stefan Steinerberger; Aleh Tsyvinski
  520. A Review Assessment of Rural Households Food Coping Strategies in Northern Nigeria: A Window for Investment and Intervention By Ahungwa, G. T.; Mamman, B. Y.; Adeleke, E. A.
  521. Üretimin Ithal Girdi Yogunlugu: Girdi-Çikti Analizi By Elif Ozcan Tok; Orhun Sevinc
  522. Testing Jointly for Structural Changes in the Error Variance and Coefficients of a Linear Regression Model By Perron, Pierre; Yamamoto, Yohei; Zhou, Jing
  523. Mozambique—bust before boom: Reflections on investment surges and new gas By Roe Alan R.
  524. Works Councils and Organizational Gender Policies in Germany By Uwe Jirjahn; Jens Mohrenweiser
  525. Works Councils and Organizational Gender Policies in Germany By Jirjahn, Uwe; Mohrenweiser, Jens
  526. Patent Protection and Public Capital Accumulation By Ken Tabata
  527. The long-term evolution of income inequality and poverty in China By Sicular Terry; Chuliang Luo; Shi Li
  528. Identifying modern macro equations with old shocks By Régis Barnichon; Geert Mesters
  529. Nihai Yurt Içi Talep Kisa Dönemli Tahminleri By Mahmut Gunay
  530. New imputation procedures in the measurement of inequality, growth, and poverty in Brazil By Neri Marcelo; Hecksher Marcos; Silva Pedro
  531. Should French social policies still follow the Nordic model? By Jeanne Fagnani
  532. Getting a Yes: An Experiment on the Power of Asking By Lisa Bruttel; Florian Stolley; Verena Utikal
  533. Measuring Inflation Uncertainty in Turkey By Eda Gulsen; Hakan Kara
  534. The hidden cost of real time electricity pricing By Ioana Bejan; Carsten Lynge Jensen; Laura M. Andersen; Lars Gårn Hansen
  535. Optimal multi-asset trading with linear costs: a mean-field approach By Matt Emschwiller; Benjamin Petit; Jean-Philippe Bouchaud
  536. Consumption Smoothing Channels Within And Between Households By Simone Tedeschi; Luigi Ventura; Pierfederico Asdrubal
  537. Commitment lotteries promote physical activity among overweight adults : A cluster randomized trial By van der Swaluw, K.; Lambooij, M.S.; Mathijssen, J.J.P.; Schipper, M.; Zeelenberg, M.; Berkhout, S.; Polder, J.J.; Prast, H.M.
  538. Tying down the anchor: monetary policy rules and the lower bound on interest rates By Mertens, Thomas M.; Williams, John C.
  539. Les classes moyennes en Europe et en France au sortir de la crise By Pierre Courtioux; Christine Erhel; Daniel Vaughan-Whitehead
  540. Le franc CFA vu d’Italie, de France et d’Afrique By Béatrice Hibou
  541. Développements récents de l'économie comportementale et expérimentale : Introduction By Nicolas Jacquemet; Fabrice Le Lec
  542. When the opportunity knocks: large structural shocks and gender wage gaps By Joanna Tyrowicz; Lucas van der Velde
  543. Does Financial Difficulty Damage Cognitive Function? By Yumi Ishikawa
  544. Gig economy platforms: Boon or Bane? By Cyrille Schwellnus; Assaf Geva; Mathilde Pak; Rafael Veiel
  545. The Effects of EITC Exposure in Childhood on Marriage and Early Childbearing By Katherine Michelmore; Leonard M. Lopoo
  546. Stagflation and the crossroad in macroeconomics: the struggle between structural and New Classical macroeconometrics By Aurélien Goutsmedt
  547. The Effect of Aspirations on Inequality: Evidence from the German Reunification using Bayesian Growth Incidence Curves By Edwin Fourrier-Nicolai; Michel Lubrano
  548. La fin des approches classiques de formation des stratégies ? By Hervé Goy
  549. Structural change in the Chinese economy and changing trade relations with the world By Bekkers, Eddy; Koopman, Robert; Lemos Rego, Carolina
  550. Firm Size and Innovation in the Service Sector By David B. Audretsch; Marian Hafenstein; Alexander S. Kritikos; Alexander Schiersch
  551. Using multiple reference levels in Multi-Criteria Decision aid: The Generalized-Additive Independence model and the Choquet integral approaches By Christophe Labreuche; Michel Grabisch
  552. Construction of a survey-based measure of output Gap By Michal Bencik
  553. Emotional responses to behavioral economic incentives for health behavior change By van der Swaluw, K.; Lambooij, M.S.; Mathijssen, J.J.P.; Prast, H.M.; Zeelenberg, M.; Polder, J.J.
  554. Markovian structure of the Volterra Heston model By Eduardo Abi Jaber; Omar El Euch
  555. Working Paper 02-19 - Inégalités de bien-être en Belgique - Construction de onze indicateurs composites pour mesurer le bien-être de différentes catégories de la population By Arnaud Joskin
  556. El Trienio Bolchevique de Díaz del Moral: conflictividad y reformismo agrario By Ricardo Robledo Hernández
  557. Insulating property of the flexible exchange rate regime: A case of Central and Eastern European countries By Dąbrowski, Marek A.; Wróblewska, Justyna
  558. Taxation and Public Spending Efficiency: An International Comparison By António Afonso; João Tovar Jalles; Ana Venâncio
  559. Efficient computation of mean reverting portfolios using cyclical coordinate descent By Th\'eophile Griveau-Billion; Ben Calderhead
  560. Risk-return puzzle in internationally diversified equity portfolios – the Romanian perspective By Ioana-Alexandra Radu; Cristian-George Vlaicu
  561. Does the presence of a physically disabled person in the group increase cooperation? An experimental test of the empathyaltruism hypothesis By Arnaud Tognetti; David Doat; Dimitri Dubois; Rustam Romaniuc
  562. Internationale Konjunkturprognose und konjunkturelle Szenarien für die Jahre 2018 bis 2023 By Drygalla, Andrej; Holtemöller, Oliver; Lindner, Axel
  563. The Blessings of Medicine? Patient Characteristics and Health Outcomes in a Ugandan Mission Hospital, 1908-1970 By Doyle, Shane; Meier zu Selhausen, Felix; Weisdorf, Jacob
  564. Normative Perception of Power Abuse By Leonard Hoeft; Wladislaw Mill; Alexander Vostroknutov
  565. Risk management on the capital market and use of multi-factorial models for estimating the stocks return By Adelina-Monica Moraru
  566. IFAD IMPACT ASSESSMENT - Participatory small irrigation development programme I (PASIDP I): results from a high frequency data collection - Ethiopia By Alessandra, Garbero; Bezawit, Beyene Chichaibelu
  567. ”Thanks in Advance”: The Negative Effect of a Polite Phrase on Compliance with a Request By Lisa Bruttel; Lisa Juri Nithammer; Florian Stolley
  568. Spatial modelling of the two-party preferred vote in Australian federal elections: 2001-2016 By Jeremy Forbes; Dianne Cook; Rob J Hyndman
  569. Shocking Interest Rate Floors By Fabio Canetg, Daniel Kaufmann
  570. Planning paper 117 - Vingt ans de politique de soutenabilité des finances publiques belges - D’une stratégie de préfinancement des coûts du vieillissement à une politique de réformes du modèle socio-économique By Frédérique Denil; Vincent Frogneux; Michel Saintrain
  571. Ethnic Identity and the Employment Outcomes of Immigrants: Evidence from France By Isaure Delaporte
  572. Gender and Returns to Marketing of Non-Timber Forest Products in Southwest Nigeria By Obayelu, Oluwakemi Adeola; Farinola, Lucy Adeteju
  573. IFAD IMPACT ASSESSMENT - Agricultural value chains support project (PAFA): Senegal By Alessandra, Garbero; Dieynab, Diatta; Markus, Olapade
  574. Mise en place d'une expérience avec le grand public : entre recherche, vulgarisation et pédagogie By Youenn Loheac; Hayyan Alia; Cécile Bazart; Mohamed Ali Bchir; Serge Blondel; Mihaela Bonescu; Alexandrine Bornier; Joëlle Brouard; Nathalie Chappe; Francois Cochard; Alexandre Flage; Fabio Galeotti; Xavier Hollandts; Astrid Hopfensitz; Nicolas Jacquemet; Fabrice Le Lec; Marianne Lefebvre; Mélody Leplat; Cesar Mantilla; Guillermo Mateu; Guillaume Péron; Emmanuel Peterle; Emmanuel Petit; Eva Raiber; Julie Rosaz; Anne Rozan; Jean-Christian Tisserand; Marie Claire Villeval; Marc Willinger; Adam Zylbersztejn; Angela Sutan
  575. Social Mobility Trends in Canada: Going up the Great Gatsby Curve By Marie Connolly; Catherine Haeck; David Lapierre
  576. Domestic intellectual property rights protection and exports: Accessing the credit channel. By Ndubuisi, Gideon
  577. GDP-Employment decoupling and the slow-down of productivity growth in Germany By Klinger, Sabine; Weber, Enzo
  578. An Act for the Abolition of the Slave Trade: The Effects of an Import Ban on Cape Colony Slaveholders By Martins, Igor
  579. Pay Transparency and the Gender Gap By Michael Baker; Yosh Halberstam; Kory Kroft; Alexandre Mas; Derek Messacar
  580. Revisiting the impact of direct taxes and transfers on poverty and inequality in South Africa By Maboshe Mashekwa; Woolard Ingrid
  581. Impact study of telematics auto insurance By Cornel Coca Constantinescu; Ion Stanciu; Iulian Panait
  582. Private beats public: A flexible value-added model with Tanzanian school switchers By Brandt Kasper
  583. Labor supply under participation and hours constraints: An extended structural model for policy evaluations By Kai-Uwe Müller; Michael Neumann; Katharina Wrohlich
  584. Impact of Development aid on infant mortality : Micro-level evidence from Cote d’Ivoire By Didier Wayoro; Leonce Ndikumana
  585. Improving Our Monetary Policy Strategy By Mester, Loretta J.
  586. A Stock Selection Method Based on Earning Yield Forecast Using Sequence Prediction Models By Jessie Sun
  587. Sharing the Cost of Maximum Quality Optimal Spanning Trees By Subiza, Begoña; Peris, Josep E.
  588. Evaluating Research on Data Linkage to Assess Underreporting of Pedestrian and Bicyclist Injury in Police Crash Data By Doggett, Sarah; Ragland, David R.; Felschundneff, Grace
  589. Detecting Biased Items When Developing a Scale: A Quantitative Method By Jean-Charles Pillet; Claudio Vitari; Federico Pigni; Kevin Carillo
  590. Comprendre la diffusion d’une politique publique de promotion de la coopération entre PME au Brésil par la perspective relationnelle. By Olivier Coussi; Felipe Zarpelon; Kadígia Faccin; Alsones Balestrin
  591. The impact of digital government on citizen well-being By Benjamin Welby
  592. Rice Importation Trend in Nigeria and Its Effects on Local Production: 1970-2013 By Biam, C.K.; Adejo, S.A.
  593. Improving Regression-based Event Study Analysis Using a Topological Machine-learning Method By Takashi Yamashita; Ryozo Miura
  594. Sign of the times: Workplace mindfulness as an empty signifier By Gazi Islam; Marie Holm; Mira Karjalainen
  595. Reconsideration of a simple approach to quantile regression for panel data: a comment on the Canay (2011) fixed effects estimator By Galina Besstremyannaya; Sergei Golovan
  596. What might explain today’s conflicting narratives on global inequality? By Ravallion Martin
  597. Early life shocks and mental health: The long-term effect of war in Vietnam By Singhal Saurabh
  598. Regulatory Spillovers in Common Audit Markets By Duguay, Raphael; Minnis, Michael; Sutherland, Andrew
  599. Le territoire : quelle alternative pour le DRH ? By Estelle Mercier; Thierry Colin
  600. Gunnar Myrdal and Asian Drama in context By Kanbur Ravi
  601. The Effect of Education on Health: Evidence from the 1997 Compulsory Schooling Reform in Turkey By Baltagi, Badi H.; Flores-Lagunes, Alfonso; Karatas, Haci M.
  602. Pigou Creates Losers: On the Implausibility of Achieving Pareto Improvements from Efficiency-Enhancing Policies By James M. Sallee
  603. What can we say about land prices? By Pedersen, Michael Friis; Olsen, Jakob Vesterlund
  604. Gains from Wage Flexibility and the Zero Lower Bound By Billi, Roberto; Galí, Jordi
  605. Credence goods markets and the informational value of new media: A natural field experiment By Rudolf Kerschbamer; Daniel Neururer; Matthias Sutter
  606. Weak or caring? When Sad Leaders Are Perceived As More Effective than Angry Leaders By Pinar Celik; Martin Storme
  607. Women in Agriculture (WIA) and Rural Households' Welfare in Oyo State; Evidence from Maize Arbitragers in Ibarapa Central LGA By Ogunwandc, I.O.; Akinrinola, O.O.; Adcscluka, M.
  608. Economic Appraisal of Inert Atmosphere Silo for Wheat Storage By I.T, Oyebamiji; M.O, Olatilewa; S.A, Adetayo; S.N, Oyewole
  609. On the consistency of jump-diffusion dynamics for FX rates under inversion By Federico Graceffa; Damiano Brigo; Andrea Pallavicini
  610. Cross-Border Capital Flows and Return Dynamics in Emerging Stock Markets: Relative Roles of Equity and Debt Flows By Deven Bathia; Christos Bouras; Riza Demirer; Rangan Gupta
  611. How has globalisation affected the economic growth, structural change and poverty reduction linkages? Insights from international comparisons By Aggarwal, Aradhna
  612. Unconventional Exchange: Methods for Statistical Analysis of Virtual Goods By Oliver James Scholten; Peter Cowling; Kenneth A. Hawick; James Alfred Walker
  613. Predicting China’s Monetary Policy with Forecast Combinations By Pauwels, Laurent
  614. The Stability of Demand for Money in the Proposed Southern African Monetary Union By Simplice A. Asongu; Oludele E. Folarin; Nicholas Biekpe
  615. Financial Stability and the Fed: Evidence from Congressional Hearings By Arina Wischnewsky; David-Jan Jansen; Matthias Neuenkirch
  616. Illusion of gender parity in education: Intrahousehold resource allocation in Bangladesh By Xu, Sijia; Shonchoy, Abu S.; Fujii, Tomoki
  617. Adjusting classical portfolio theories with behavioral practices By Nicu Stanciu; Adrian Mitroi
  618. Tax Compliance under Indirect Rule in British Africa By Bolt, Jutta; Gardner, Leigh
  619. EDITED DEMOCRACY: Media Manipulation and the News Coverage of Presidential Debates By Alexsandros Cavgias; Raphael Corbi, Luis Meloni, Lucas M. Novaes
  620. Social Value of Time for Investment Appraisal in Mozambique By Glenn P. Jenkins; Pejman Bahramain; Mikhail Miklyaev; Saint Seyi Akindere
  621. Exchange Rate Volatility and Agricultural Exports in Nigeria: An Autoregressive Distributed Lag (ARDL) Bound Test Approacj By Akinbode, Sakiru Oladele; Ojo, Olutunki Timothy
  622. Economic Transition, Dualism, and Informality in India By Surbhi Kesar
  623. Turnover-Based Presumptive Taxation and Taxpayers' Perceptions in Ethiopia By Getachew, Abis
  624. The redistributive preferences of the well-off By Elvire Guillaud; Michaël Zemmour
  626. Portfolio diversification with ETFs By Mirel Flavius Popa
  627. Acceptability of e-Filing of Taxes by Micro-Entrepreneurs in Northwestern Nigeria By Mas'ud, Abdulsalam
  628. IFAD IMPACT ASSESSMENT - Plan VIDA-PEEP to eradicate extreme poverty – Phase I: Bolivia By Adriana, Paolantonio; Romina, Cavatassi; Kristen, McCollum
  629. "Democratizing Money" By Jan Kregel
  630. Delegation of Taxation Authority and Multipolicy Commitment in a Decentralized Leadership Model By Nobuo Akai; Takahiro Watanabe
  631. Les entreprises de la branche du numérique : modes d'acquisition des compétences par le recrutement et la formation. Une exploitation de l'enquête DEFIS du Céreq By Jean-Marie Dubois; Laurence Lize; Patrick Rousset
  632. Government’s Employment Challenge: 75 Percent Employment Rate Target Requires Both Structural Reforms and Better Competitiveness By Kangasharju, Aki; Kauhanen, Antti
  633. IFAD IMPACT ASSESSMENT - Rural development support programme in Guéra: Chad By Romina, Cavatassi; Athur, Mabiso; Mohamed, Abouaziza; Eric, Djimeu
  634. Remittances, the Diffusion of Information and Industrialisation in Africa By Simplice A. Asongu; Nicholas M. Odhiambo
  635. Exploring Image Motivation in Promise Keeping – An Experimental Investigation By Kevin Grubiak
  636. Méthodologie et outil de définition de la stratégie de transition 4.0 pour la chaine logistique. By Ioana Deniaud; François Marmier; Jean-Louis Michalak
  637. “Does longevity impact the severity of traffic accidents? A comparative study of young-older and old-older drivers” By Mercedes Ayuso; Rodrigo Sánchez-Reyes; Miguel Santolino
  638. The impact of world government indicators on market investment behavior By Raluca Simina Bilti
  639. Under Pressure! Nudging Electricity Consumption within Firms: Feedback from a Field Experiment By Christophe Charlier; Gilles Guerassimoff; Ankinée Kirakozian; Sandrine Selosse
  640. National Carbon Reduction Commitments: Identifying the Most Consensual Burden Sharing By Gaël Giraud; Hadrien Lantremange; Emeric Nicolas; Olivier Rech
  641. mRSC: Multi-dimensional Robust Synthetic Control By Muhummad Amjad; Vishal Misra; Devavrat Shah; Dennis Shen
  642. IFAD IMPACT ASSESSMENT - Agricultural sector development programme –livestock (ASDP-L) and the agriculture service support programme (ASSP): Tanzania By Alessandra, Garbero; Bezawit, Beyene Chichaibelu
  643. Welfare and Political Economy Aspects of a Central Bank Digital Currency By Cukierman, Alex
  644. Heterogeneous component multiplicative error models for forecasting trading volumes By Naimoli, Antonio; Storti, Giuseppe
  645. IFAD IMPACT ASSESSMENT - Irrigated rice production enhancement project (IRPEP): Philippines By Aslihan, Arslan; Daniel, Higgins; Paul, Winters; Fabrizio, Bresciani
  646. Acceptability of e-Filing of Taxes by Micro-Entrepreneurs in Northwestern Nigeria By Mas'ud, Abdulsalam
  647. Girls, Boys, and High Achievers By Angela Cools; Raquel Fernandez; Eleonora Patacchini
  648. Analyzing Subjective Well-Being Data with Misclassification By Ekaterina Oparina; Sorawoot Srisuma
  649. Using multiple reference levels in Multi-Criteria Decision Aid: the Generalized-Additive Independence model and the Choquet integral approaches By Christophe Labreuche; Michel Grabisch
  650. A model of anonymous influence with anti-conformist agents By Michel Grabisch; Alexis Poindron; Agnieszka Rusinowska
  651. Implications of the permanent-transitory confusion for New-Keynesian modeling, inflation forecasts and the post-crisis era By Cukierman, Alex
  652. Reducing Food Importation in Sub Saharan Africa: Myth or Reality? Empirical Evidence from Cameroon (1995-2015) By Djomo, R. F; Ukpe, U. H.; Gama, E. N; Nwalem, M. P.; Onuigbo, I.; Dzever, D. D.; Chancha, T.E.
  653. Can Nigeria Sustain Ban on Rice Importation Overtime? Analysis of Its Determinants on Agri-Business Development in Commercial Rice Production and Processing (1991-2015) By Dzever, D.D.; Ayoola, J.B.
  654. Inequality in Mexico: Labour markets and fiscal redistribution 1989–2014 By Campos-Vázquez Raymundo; Lustig Nora; Scott John
  655. Policy Implementation Under Stress: Central-Local Government Relations in Property Tax Administration in Tanzania By Fjeldstad, Odd-Helge; Ali, Merima; Katera, Lucas
  656. "The race for innovation in the media and content industries: legacy players and newcomers. Lessons from the music and newspaper industries" By Pierre-Jean Benghozi; Elisa Salvador; Jean-Paul Simon
  657. The Technical Decomposition of Carbon Emissions and the Concerns about FDI and Trade Openness Effects in the United States By Shahbaz, Muhammad; Gozgor, Giray; Kofi Adom, Philip; Hammoudeh, Shawkat
  658. Evaluation of Injury Severity Updates in California Collision Data By Bigham, John; Oum, Sang Hyouk
  659. IFAD IMPACT ASSESSMENT - High value agriculture project in hill and mountain areas (HVAP): Nepal By Kashi, Kafle; Kwabena, Krah; Tisorn, Songsermsawas
  660. Does subsidized care for toddlers increase maternal labor supply?: Evidence from a large-scale expansion of early childcare By Kai-Uwe Müller; Katharina Wrohlich
  661. The evolution of private returns to education during post-conflict transformation: Evidence from Mozambique By Jones Sam; Trifkovi? Neda; Sohnesen Thomas
  662. Relationship between Foreign Exchange Rate and Stock Price of Commercial Banks in Romanian financial market By Violeta Duta
  663. Automating Response Evaluation for Franchising Questions on the 2017 Economic Census By Joseph Staudt; Yifang Wei; Lisa Singh; Shawn D. Klimek; J. Bradford Jensen; Andrew L. Baer
  664. IFAD IMPACT ASSESSMENT - Coastal climate resilient infrastructure project (CCRIP): Bangladesh By Aslihan, Arslan; Daniel, Higgins; Saiful, Islam
  665. Working Paper 03-19 - Medium-term projection for Belgium of the at-risk-of-poverty and social exclusion indicators based on EU-SILC By Gijs Dekkers; Ekaterina Tarantchenko; Karel Van den Bosch
  666. The Effect of Executive Constraints on Reform Implementation: An Empirical Analysis By María Clara Arroyo
  667. Determinants of Rising Price of Yam in Nigeria: Times-Series Approach By Ajibade T.B.; Ayinde O.E.; Abdoulaye T.; Ayinde, K.
  668. Le réseau des affiliations de la communauté francophone des chercheurs en Systèmes d'Information By Claudio Vitari; Jean-Charles Pillet
  669. Inequality during the nutritional transition: Hospital diets in Mediterranean Spain (Valencia, 1853-1923) By Francisco J. Medina-Albaladejo; Salvador Calatayud
  670. The North-South Divide, the Euro and the World By Konstantinos Chisiridis; Kostas Mouratidis; Theodore Panagiotidis
  671. Social Effects of the Vote of the Majority: A Field-Experiment on the Brexit-Vote By Fernanda L. Lopez de Leon; Markus Bindemann
  672. The social relation to the environment in contemporary capitalism: theoretical reflections and empirical explorations By Cahen-Fourot, Louison
  673. Premium for Heightened Uncertainty: Solving the FOMC Puzzle By Grace Xing Hu; Jun Pan; Jiang Wang; Haoxiang Zhu
  674. African Socialism; or the Search for an Indigenous Model of Economic Development By Akyeampong, Emmanuel
  675. Refugee education: Integration models and practices in OECD countries By Lucie Cerna
  676. Women in Agriculture (WIA) and Rural Households' Welfare in Contribution of Snail Production Business to the Income of Snail Farmers in Edo South, Nigeria By Ahmadu, J.; Oyoboh, D.E.
  677. Game Theoretic Interaction and Decision: A Quantum Analysis By Ulrich Faigle; Michel Grabisch
  678. Democratisation and tax structure in the presence of home production: Evidence from the Kingdom of Greece By Pantelis Kammas; Vassilis Sarantides
  679. Estimating the Effect of Exchange Rate Changes on Total Exports By Thierry Mayer; Walter Steingress
  680. Assessing the Techno-economic Effects of the Delayed Deployment of CCS Power Plants By Carrara, Samuel
  681. Axiomatization of an importance index for Generalized Additive Independence models By Mustapha Ridaoui; Michel Grabisch; Christophe Labreuche
  682. On importance indices in multicriteria decision making By Michel Grabisch; Christophe Labreuche; Mustapha Ridaoui
  683. Central Asia Oil and Gas Industry - The External Powers’ Energy Interests in Kazakhstan, Turkmenistan and Uzbekistan By Raimondi, Pier Paolo
  684. New empirical evidence on E.M.H.: case of developed and emerging markets – a microeconomic approach By Iuliana Maria Ursu
  685. Opinion formation and targeting when persuaders have extreme and centrist opinions By Agnieszka Rusinowska; Akylai Taalaibekova
  686. Settling in motion: Nyasa clandestine migration through Southern Rhodesia into the Union of South Africa: 1920s – 1950s By Daimon Anusa
  687. How large is the wage penalty in the labour broker sector?: Evidence for South Africa using administrative data By Casale Daniela; Cassim Aalia
  688. Optimal investment with vintage capital: equilibrium distributions By Silvia Faggian; Fausto Gozzo; Peter M. Kort
  689. Fifty years of Asian experience in the spread of education and healthcare By Mundle Sudipto
  690. Of trackers and tractors. Using a smartphone app and compositional data analysis to explore the link between mechanization and intra-household allocation of time in Zambia By Daum, Thomas; Capezzone, Filippo; Birner, Regina
  691. Emergency Medical Services (EMS) and the California EMS Information System (CEMSIS) Working Paper By Doggett, Sarah; Ragland, David R.; Felschundneff, Grace
  692. Le commun comme mode de production. Introduction By Carlo Vercellone; Francesco Brancaccio; Giuliani Alfonso
  693. Managed competition in practice : Lessons for healthcare policy By Katona, Katalin
  694. Paternalism and the public household. On the domestic origins of public economics By Maxime Desmarais-Tremblay
  695. Bargaining Foundation for Ratio Equilibrium in Public Good Economies By Anne Van den Nouweland; Agnieszka Rusinowska
  696. Knowledge Economy and Economic Development in the Arab Region By Satti Osman Mohamed Nour, Samia
  697. Beyond Okun's Law: Output Growth and Labor Market Flows By Guay C. Lim; Robert Dixon; Jan C. van Ours
  698. Remittances,The diffusion of information and industrialisation in Africa By Asongu, Simplice A; Odhiambo, Nicholas M
  699. Cross-country Evidence on the Determinants of Inclusive Growth Episodes By João Tovar Jalles; Luiz de Mello
  700. Evaluating an old-age voluntary saving scheme under incomplete rationality By Artur Rutkowski
  701. The distributional impact of tax and benefit systems in six African countries By Barnes Helen; Wright Gemma; Noble Michael; Gasior Katrin; Leventi Chrysa
  702. Analysis of factors Affecting Agribusiness in Oyo State, Nigeria By Fato, B.F.; Oyegbami, A.; Nwali, C.S.; Obute, J.E.
  703. A Generalized Calibration Approach Ensuring Coherent Estimates with Small Area Constraints By Jan Pablo Burgard; Ralf Münnich; Martin Rupp
  704. Demand and Welfare Analysis in Discrete Choice Models with Social Interactions By Debopam Bhattacharya; Pascaline Dupas; Shin Kanaya
  705. The challenge of controlling public debt and restoring budget equilibrium By Jean-Marie Monnier
  706. Demand and Welfare Analysis in Discrete Choice Models with Social Interactions By Debopam Bhattacharya; Pascaline Dupas; Shin Kanaya
  707. Puzzle me this? : The Vietnamese reverse gender education gap By Mergoupis Thanos; Phan Van; Sessions John
  708. Nonparametric Estimates of Demand in the California Health Insurance Exchange By Pietro Tebaldi; Alexander Torgovitsky; Hanbin Yang
  709. Wage and labor mobility between public, formal private and informal private sectors in Egypt By Mostafa Shahen; Koji Kotani; Makoto Kakinaka
  710. Rent control and rental prices: High expectations, high effectiveness? By Breidenbach, Philipp; Eilers, Lea; Fries, Jan Ludwig
  711. The Struggle Towards Macroeconomic Stability: Analytical Essay By Assaf Razin
  712. IFAD IMPACT ASSESSMENT - Community-based forestry development project in southern states (DECOFOS): Mexico By Romina, Cavatassi; Federica, Alfani; Adriana, Paolantonio; Paola, Mallia
  713. An axiomatisation of the Banzhaf value and interaction index for multichoices games By Mustapha Ridaoui; Michel Grabisch; Christophe Labreuche
  714. Electricity supply reliability and households decision to connect to the grid By Arnaud Millien
  715. Railways, Growth, and Industrialisation in a Developing German Economy, 1829-1910 By Braun, Sebastian Till; Franke, Richard
  716. La gestion des risques dans une chaîne d’approvisionnement By Anasse Amarouche; Philippe Chapellier; Alain George
  717. The Interaction Between Fiscal and Monetary Policies: Evidence from Sweden By Ankargren, Sebastian; Shahnazarian, Hovick
  718. Serving God and Mammon: The ‘Minerals-Railway Complex’ and its effects on colonial public finances in the British Cape Colony, 1810-1910 By Gwaindepi, Abel
  719. Sub-Theme 1: E-Business and Value Chain Development in the Agricultural Sector By E., Ademola Oluwaseyi; A., Omotesho Olubunmi; L., Olaghere Ivie
  720. Information Technology Role in Determining Communication Style Prevalent Among Al-Azhar University Administrative Staff By Husam R.; Samy S. Abu Naser; Suliman A El Talla; Mazen J Al Shobaki
  721. Inverting the Markovian projection, with an application to local stochastic volatility models By Daniel Lacker; Mykhaylo Shkolnikov; Jiacheng Zhang
  722. What economics education is missing: The real world By Pühringer, Stephan; Bäuerle, Lukas

  1. By: Trifkovi? Neda
    Abstract: The purpose of this paper is to investigate the scope for international private standards to play a role in reducing business risk. Business risk is measured as variability in revenue, customer base, informal payments, and temporary firm closure.The results show lower levels of business risk among certified firms, especially for firms in the middle deciles of the risk distribution. Certification also correlates negatively with risk-reduction for technologically advanced firms, as well as firms located in rural areas and northern provinces of Viet Nam.The results suggest that firms could find protection from business downsides by investing in quality management tools.
    Keywords: SMEs,Certification,Firm behaviour,Risk,Business
    Date: 2018
  2. By: Valentin Zelenyuk (School of Economics and Centre for Efficiency and Productivity Analysis (CEPA) at The University of Queensland, Australia)
    Abstract: Here we consider various cases where researchers are interested in measuring aggregate efficiency or productivity levels or their changes for a group of decision making units. These could be entire industry composed of individual firms, banks, hospitals, or a region composed of sub-regions or countries, or particular sub-groups of these units within a group, e.g., sub-groups of public vs. private or regulated vs. non-regulated firms, banks or hospitals within the same industry, etc. Such analysis requires solutions to the aggregation problem some theoretically justified approaches that can connect individual measures to aggregate measures. Various solutions are offered in the literature and our goal is to try to coherently summarize at least some of them in this chapter. This material should be interesting not only for theorists but also (and perhaps more so) for applied researchers, as it provides exact formulas and intuitive explanations for various measures of group efficiency, group scale elasticity and group productivity indexes and refers to original papers for more details.
    Keywords: Efficiency, Productivity, Aggregation, Industry Efficiency, Duality.
    JEL: D24 C43 L25
    Date: 2019–05
  3. By: Ost, Ben (University of Illinois–Chicago); Pan, Weixiang (Georgia State University); Webber, Douglas (Federal Reserve Bank of Philadelphia)
    Abstract: We examine how a student’s major and the institution attended contribute to the labor market outcomes of young graduates. Administrative panel data that combine student transcripts with matched employer-employee records allow us to provide the first decomposition of premia into individual and firm-specific components. We find that both major and institutional premia are more strongly related to the firm-specific component of wages than the individual-specific component of wages. On average, a student’s major is a more important predictor of future wages than the selectivity of the institution attended, but major premia (and their relative ranking) can differ substantially across institutions, suggesting the importance of program-level data for prospective students and their parents.
    Keywords: college quality; returns to major; firm-specific premium
    JEL: I23 I24
    Date: 2019–05–07
  4. By: Mustafa Akay; Doruk Kucuksarac; Muhammed Hasan Yilmaz
    Abstract: [EN] The increasing share of foreign currency debt in emerging market corporates has drawn attention in the last years. Therefore, containing FX risk of the corporates has become a priority for emerging markets. In this regard, the use of FX derivatives is one of the most commonly used solutions to hedge against FX risk. However, there seems to be substantial heterogeneity across the corporates in terms of derivative use. Therefore, understanding which corporates are more likely to engage in FX derivatives is crucial in terms of policy design. This study aims to determine firm-specific factors for derivative use of the nonfinancial firms quoted in Borsa Istanbul (BIST). The descriptive findings show that off-balance sheet accounts driven by FX derivatives have increased as well as on-balance sheet FX short position, which indicates that some of the Turkish nonfinancial firms engage in hedging activities. The study also employs a probit model for the identification of common characteristics of non-financial firms which use FX derivative instruments. It is found that firms with larger size and higher leverage ratios tend to utilize FX derivatives more whereas the firms with considerably ample liquidity buffers and higher tangible assets tend to use fewer FX derivatives. Then, we investigate the extent of derivative use with fixed effects panel regressions. The results show that firm size, tangibility ratio and degree of internationalization are found to be significant determinants of the extent of derivative use. [TR] Gelismekte olan ulke (GOU) firmalarinin doviz borclulugundaki son yillardaki artis dikkat ceken seviyelere gelmistir. Bu nedenle, firmalarin doviz kuru riskini azaltmak gelismekte olan ulkeler acisindan oncelik haline gelmistir. Bu baglamda, doviz kuru uzerine yazilmis turev araclarin (doviz turev) kullanilmasi, en yaygin yontemlerden biri olarak on plana cikmaktadir. Bununla birlikte, turev arac kullanimi acisindan firmalar arasinda heterojenlik gozlenmektedir. Bu nedenle, hangi tip firmalarin doviz turev araclarini kullandiginin ve kullanim tutarinda belirleyici olan unsurlarin anlasilmasi politika tasarimi acisindan onem tasimaktadir. Bu calismada, Borsa Istanbul'da (BIST) islem goren finansal kesim disi firmalarin turev kullaniminda belirleyici olan unsurlar incelenmektedir. Tanimlayici bulgular, doviz turev araclari tarafindan kaynaklanan bilanco disi pozisyonun, bilanco ici doviz acik pozisyonunu ile beraber arttigini gostermektedir. Bu durum, bazi firmalarin riskten korunma faaliyetlerinde bulunduguna isaret etmektedir. Calismada ayrica doviz turev araclari kullanan finansal kesim disi firmalarin ortak ozelliklerinin belirlenmesi icin kullanilan probit model sonuclari, buyuk firmalarin veya yuksek kaldirac oranlarina sahip firmalarin doviz turev araclarini daha fazla kullanma egiliminde oldugunu, ancak yuksek likidite tamponu ve maddi varliga sahip firmalarin ise daha az doviz turev araci kullanma egiliminde oldugunu gostermektedir. Son olarak, turev kullanim hacmi sabit etkiler panel regresyonlari ile incelenmis olup sonuclar, firma buyuklugunun, maddi duran varlik oraninin ve operasyonel anlamda uluslararasilasma derecesinin turev kullanim hacminde belirleyici oldugunu gostermektedir.
    Date: 2019
  5. By: Ibrahim Yarba; Zehra Nuray Guner
    Abstract: This paper investigates the impact of macroprudential policies and uncertainty of economic environment on corporate leverage dynamics over the last decade. This is the first study to investigate the impact of macroprudential policies and uncertainty on leverage dynamics of Turkish non-financial firms using firm-level data. We argue in this paper that persistence of uncertainty should be a more appropriate factor affecting credit dynamics rather than uncertainty. In that sense, we construct a measure of uncertainty by using principal component analysis and a measure of persistence of uncertainty for Turkey. Results from the dynamic panel models with a large set of control variables, provide significant evidence in support of the argument that leverage decisions are affected from the persistence of uncertainty rather than the uncertainty itself. Moreover, both the share of the financial debt in total liabilities and the leverage of Turkish non-financial firms decrease significantly when uncertainty increases persistently and when macroprudential policy tools are tightened. Most strikingly, this is the case only for Small and Medium-Sized Enterprises but not for large firms.
    Keywords: Leverage dynamics, Macroprudential policy, Uncertainty, Persistence of uncertainty, Dynamic panel regressions
    JEL: C23 D22 D81 G18 G32
    Date: 2019
  6. By: Matthias Hunold; Johannes Muthers
    Abstract: We characterize mixed-strategy equilibria when capacity constrained suppliers can charge location-based prices to different customers. We establish an equilibrium with prices that weakly increase in the costs of supplying a customer. Despite prices above costs and excess capacities, each supplier exclusively serves its home market in equilibrium. Competition yields volatile market shares and an inefficient allocation of customers to firms. Even ex-post cross-supplies may restore efficiency only partly. We show that consumers may benefit from price discrimination whereas the the firms make the same profits as with uniform pricing. We use our findings to discuss recent competition policy cases and provide hints for a more refined coordinated-effects analysis. JEL classification:
    Keywords: Bertrand-Edgeworth, capacity constraints, inefficient competition, spatial price discrimination, subcontracting, transport costs
    JEL: L11 L41 L61
    Date: 2019–05
  7. By: Alberto Bailin Rivares; Peter Gal; Valentine Millot; Stéphane Sorbe
    Abstract: This paper uses a novel empirical approach to assess if the development of online platforms affects the productivity of service firms. We build a proxy measure of platform use across four industries (hotels, restaurants, taxis and retail trade) and ten OECD countries using internet search data from Google Trends, which we link to firm-level data on productivity in these industries. We find that platform development supports the productivity of the average incumbent service firm and also stimulates labour reallocation towards more productive firms in these industries. This may notably reflect that platforms’ user review and rating systems reduce information asymmetries between consumers and service providers, enhancing competition between providers. The effects depend on platform type. “Aggregator” platforms that connect incumbent service providers to consumers tend to push up the productivity of incumbents, while more disruptive platforms that enable new types of providers to compete with them (e.g. home sharing, ride hailing) have on average no significant effect on it. Consistent with this, we find that different platform types affect differently the profits, mark-ups, employment and wages of incumbent service firms. Finally, the productivity gains from platforms are lower when a platform is persistently dominant on its market, suggesting that the contestability of platform markets should be promoted.
    Keywords: competition, digital, google trends, platforms, productivity, services, user rating
    JEL: D24 L13 L80 O33
    Date: 2019–05–21
  8. By: Oguzhan Cepni (Central Bank of the Republic of Turkey, Haci Bayram Mah. Istiklal Cad. No: 10, 06050, Ankara, Turkey); Rangan Gupta (Department of Economics, University of Pretoria, Pretoria, South Africa); Mark E. Wohar (College of Business Administration, University of Nebraska at Omaha, 6708 Pine Street, Omaha, NE 68182, USA, and School of Business and Economics, Loughborough University, Leicestershire, LE11 3TU, UK.)
    Abstract: This paper investigates the role of real estate-specific uncertainty in predicting the conditional distribution of US home sales growth over the monthly period of 1970:07 to 2017:12, based on Bayesian Model Averaging (BMA) to account for model uncertainty. After controlling for standard predictors of home sales (housing price, mortgage rate, personal disposable income, unemployment rate, building permits, and housing starts), and macroeconomic and financial uncertainties, our results from the quantile BMA (QBMA) model show that real estate uncertainty has predictive content for the lower and upper quantiles of the conditional distribution of home sales growth.
    Keywords: Home Sales, Real Estate Uncertainty, Quantile Regression, Bayesian Model Averaging
    JEL: C11 C22 C53 R31
    Date: 2019–05
  9. By: Neri Marcelo; Machado Cecilia; Neto Valdemar
    Abstract: This paper documents the evolution and the determinants of earnings inequality in the Brazilian formal sector from 1994 to 2015, using establishment level data. In 2015, schooling explained 33 per cent of overall inequality.Firm-specific effects explain 65 per cent of total inequality level and 76 per cent of the inequality fall observed. The downward inequality trend parallels the one seen in household surveys. However, the distributive decompression goes only until the 90th percentile, which is in line with Personal Income Tax based evidence. The share of inequality explained by top 1 per cent and 0.1 per cent incomes rose 43 per cent and 91 per cent, respectively.
    Keywords: Earnings inequality,Entropy indexes,Inequality,Linked employer-employee data
    Date: 2018
  10. By: Schou Soren; Fisker Peter
    Abstract: The latest firm survey of Mozambique, the Inquerito ás Indústrias Manufactureiras (IIM) 2017, draws a concerning picture of the manufacturing sector. However, it is not obvious whether this is true for the population of manufacturing firms in Mozambique, as the representativeness of the IIM 2017 sample is not clear.This paper triangulates the findings of IIM 2017 by considering other indicators of the health of the manufacturing sector in Mozambique, including manufacturing gross domestic product, the latest enterprise census, and satellite imagery. Results indicate that the manufacturing sector grows at roughly the same pace as the population.
    Keywords: satellite images,census,firm survey,Manufacturing
    Date: 2018
  11. By: Brandt Loren; Syerst Stephen; Restuccia Diego; Ayerst Stephen
    Abstract: We examine important changes in agriculture in Viet Nam in the context of ongoing structural changes in the economy. We use a household-level panel dataset and a quantitative framework to document the extent and consequences of factor misallocation in agriculture during the period between 2006 and 2016.Despite rapid growth in agricultural productivity and a reallocation of factor inputs to more productive farmers, we find that misallocation across farmers remains high and increased during the period. Reallocation of factor inputs has not been strong enough to accommodate substantial changes in farm productivity over time.Our analysis also reveals important differences between the north and south regions.
    Keywords: Misallocation,Regional characteristics,Agriculture,Productivity,Agricultural productivity
    Date: 2018
  12. By: Hunold, Matthias; Muthers, Johannes
    Abstract: We characterize mixed-strategy equilibria when capacity constrained suppliers can charge location-based prices to different customers. We establish an equilibrium with prices that weakly increase in the costs of supplying a customer. Despite prices above costs and excess capacities, each supplier exclusively serves its home market in equilibrium. Competition yields volatile market shares and an inefficient allocation of customers to firms. Even ex-post cross-supplies may restore efficiency only partly. We show that consumers may benefit from price discrimination whereas the the firms make the same profits as with uniform pricing. We use our findings to discuss recent competition policy cases and provide hints for a more refined coordinated-effects analysis.
    Keywords: Bertrand-Edgeworth,capacity constraints,inefficient competition,spatial price discrimination,subcontracting,transport costs
    JEL: L11 L41 L61
    Date: 2019
  13. By: Ng, Horlick; Ker, Alan P.
    Abstract: Feeding nine billion people by 2050, yield resiliency, climate change, and remaining economically competitive have received significant attention within both the literature and populous. Technological change in agriculture will largely dictate our ability to meet these challenges. Although there is significant literature on technological change in U.S. crop yields, very little has been done with Canadian yields. Moreover, the adoption and effect of various technologies and their interaction with climate tend to be crop-region specific. To this end, we model technological change in county-level yields for barley, canola, corn, oats, soybean and wheat in Canada. We use mixtures to allow and test for heterogeneous rates of technological change within the yield data generating process. While we tend to find increasing but heterogeneous rates of technological change, increasing and asymmetric yield volatility, and, increasing absolute but decreasing relative yield resiliency, our results do differ across crops and exhibit spatial bifurcations within a crop. Using a standard attribution model we find changing climate has differing effects across crops. We also consider the public funding implications of technological change for Canadian Business Risk Management programs.
    Keywords: Agricultural and Food Policy
    Date: 2019–05–16
  14. By: Yusuf Emre Akgunduz; Salih Fendoglu
    Abstract: Exporters have large domestic supply networks. We examine the impact of import reliance within their domestic supply networks on exchange rate pass-through to export prices and volume. For identification, we use administrative firm-to-firm sales and firm-product-destination level customs databases from a large emerging market, Turkey. We find that (i) while exporters' degree of reliance on imported goods is 24\%, this number reaches nearly 45\% once their suppliers are taken into account; (ii) following a domestic currency depreciation, exporters that use imported inputs more or those working with import-intensive suppliers raise their producer-currency export prices significantly more and increase their export volumes significantly less; (iii) exporters with higher reliance on a single supplier have higher exchange rate pass-through to export prices; and (iv) exporters with higher overall import intensity experience greater disruption in their supply networks, e.g., they establish fewer new supplier linkages and terminate more of their existing linkages, following a domestic currency depreciation.
    Keywords: Exchange rate pass-through, Exports, Import reliance, Domestic supply networks
    JEL: D24 F14 F31
    Date: 2019
  15. By: Alexander L. Brown; Rodrigo A. Velez
    Abstract: We experimentally evaluate the comparative performance of the winner-bid, average-bid, and loser-bid auctions for the dissolution of a partnership. The recently introduced empirical equilibrium analysis of Velez and Brown (2019) reveals that as long as behavior satisfies weak payoff monotonicity, winner-bid and loser-bid auctions necessarily exhibit a form of bias when empirical distributions of play approximate best responses. We find support for both weak payoff monotonicity and the form of bias predicted by the theory for these two auctions. Consistently with the theory, the average-bid auction does not exhibit this form of bias. It has lower efficiency that the winner-bid auction, however.
    Date: 2019–05
  16. By: Akpan, Sunday B.; Udoh, Edet J.; Umoren, Aniefiol A.
    Keywords: Agribusiness
    Date: 2017–10
  17. By: Sen Ritwika
    Abstract: This paper analyses policy options to promote local content in Uganda as it transitions into an oil-producing country. It contends that productive linkages between oil and gas exporters and domestic suppliers in a range of ‘connected’ goods and services sectors can be a source of broad-based economic growth.However, the success of policy initiatives or extensive regulatory requirements will ultimately hinge on domestic supplier capabilities to overcome barriers to entry into the global industry.The analysis comprises an evaluation of existing local content policies in Uganda, a mapping of the natural resource value chain, and an assessment of domestic firm capabilities to supply the anticipated demand for goods and services from the oil and gas industry.
    Keywords: Local content,Oil and gas,Tax administration data
    Date: 2018
  18. By: Gunes Asik; Ulas Karakoc; Mohamed Ali Marouani; Michelle Marshalian
    Date: 2019
  19. By: Edith Archambault (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)
    Date: 2018
  20. By: Sascha O. Becker; Ana Fernandes; Doris Weichselbaumer
    Abstract: Due to conventional gender norms, women are more likely to be in charge of childcare than men. From an employer’s perspective, in their fertile age they are also at “risk” of pregnancy. Both factors potentially affect hiring practices of firms. We conduct a largescale correspondence test in Germany, Switzerland, and Austria, sending out approx. 9,000 job applications, varying job candidate’s personal characteristics such as marital status and age of children. We find evidence that, for part-time jobs, married women with older kids, who likely finished their childbearing cycle and have more projectable childcare chores than women with very young kids, are at a significant advantage vis-àvis other groups of women. At the same time, married, but childless applicants, who have a higher likelihood to become pregnant, are at a disadvantage compared to single, but childless applicants to part-time jobs. Such effects are not present for full-time jobs, presumably, because by applying to these in contrast to part-time jobs, women signal that they have arranged for external childcare.
    Keywords: Fertility; Discrimination; Experimental economics
    JEL: C93 J16 J71
    Date: 2019–04
  21. By: Ralf Fendel; Nicola Mai; Oliver Mohr
    Abstract: This paper examines the role of uncertainty in the context of the business cycle in the Eurozone. To gain a more granular perspective on uncertainty, the paper decomposes uncertainty along two dimensions: First, we construct the four different moments of uncertainty, including the point estimate, the standard deviation, the skewness and the kurtosis. The second dimension of uncertainty spans along three distinct groups of economic agents, including consumers, corporates and financial markets. Based on this taxonomy, we construct uncertainty indices and assess the impact on real GDP via impulse response functions and further investigate their informational value in rolling out-of-sample GDP forecasts. The analysis lends evidence to the hypothesis that higher uncertainty expressed through the point estimate, a larger standard deviation among confidence estimates, positive skewness and a higher kurtosis are all negatively correlated with the business cycle. The impulse response functions reveal that in particular the first and the second moment of uncertainty cause a permanent effect on GDP with an initial decline and a subsequent overshoot. We find uncertainty in the corporate sector to be the main driver behind this observation, followed by financial markets’ uncertainty whose initial effect on GDP is comparable but receding much faster. While the first two moments of uncertainty improve GDP forecasts significantly, both the skewness and the kurtosis do not augment the forecast quality any further.
    Keywords: Uncertainty, Eurozone, Business cycle, GDP forecast, VAR,
    JEL: D8 E23 E27 E32 E37
    Date: 2019–05–10
  22. By: Oleg Malafeyev; Eduard Abramyan; Andrey Shulga
    Abstract: In this article three models of firms interaction on the market are described. One of these models is described by using a differential equation and by Lotka-Volterra model, where the equation has a different form. Also, there are models of non-competing and competing firms. The article presents an algorithm for solving the interaction of competing firms in taxation and the calculation of a compromise point. Besides, the article presents a compromise between the interests of a state and an enterprise.
    Date: 2019–05
  23. By: Bwala, Madu Ali; Tiamiyu, S.A.; Adedeji, S.; Kolo, Alhaji Y.
    Keywords: Land Economics/Use
    Date: 2017–10
  24. By: Sutherland, Andrew
    Abstract: I examine how credit reporting affects where firms access credit and how lenders contract with them. I use within firm-time and lender-time tests that exploit lenders joining a credit bureau and sharing information in a staggered pattern. I find information sharing reduces relationship-switching costs, particularly for firms that are young, small, or have had no defaults. After sharing, lenders transition away from relationship contracting, in two ways: contract maturities in new relationships are shorter, and lenders are less willing to provide financing to their delinquent borrowers. My results highlight the mixed effects of transparency-improving financial technologies on credit availability.
    Keywords: Debt contracts; information sharing; information asymmetries; hard and soft information; credit bureaus; relationship lending; transactional lending; information economics; entrepreneurial finance; credit reports; credit scores, FinTech
    JEL: D82 D83 G21 G23 G30 G32 M41
    Date: 2018
  25. By: Shittu, Adebayo M.; Kehinde, Mojisola O.; Ogunnaike, Maria G.; Oyawole, Funminiyi P.; Akisanya, Lois T.
    Keywords: Environmental Economics and Policy
    Date: 2017–10
  26. By: Christoph E. Boehm; Aaron Flaaen; Nitya Pandalai-Nayar
    Abstract: We provide new facts about the role of multinationals in the decline in U.S. manufacturing employment between 1993-2011, using a novel microdata panel with firm-level ownership and trade information. Multinational-owned establishments displayed lower employment growth than a narrow control group and accounted for 41% of the aggregate manufacturing employment decline. Further, newly multinational establishments in the U.S. experienced job losses, while their parent firms increased input imports from abroad. We develop a model that rationalizes this behavior and bound a key elasticity with our microdata. The estimates imply that a reduction in the costs of foreign sourcing leads firms to increase imports of intermediates and to reduce U.S. manufacturing employment. Our findings suggest that offshoring by multinationals was a key driver of the observed decline in manufacturing employment.
    JEL: F14 F16 F23 F4
    Date: 2019–05
  27. By: Johan Klaesson; Özge Öner; Dieter Pennerstorfer
    Abstract: This article analyses the relationship between the size and the quality of ethnic enclaves on immigrants’ labor market integration. Using exogenously defined grid cells to delineate neighborhoods, we find robust empirical evidence that the employment rate of the respective immigrant group in the vicinity (as a measure of enclave quality) facilitates labor market integration of new immigrants. The influence of the overall employment rate and the share of co-nationals in the neighborhood tend to be positive, but less robust. We thus conclude that the quality is more important than the size of ethnic enclave in helping new immigrants finding jobs.
    Keywords: Refugee immigrants, Ethnic enclave quality, Labor market outcomes
    JEL: F22 J15 J60 R23
    Date: 2019–03
  28. By: Shaheen, Susan PhD; Cohen, Adam
    Keywords: Engineering
    Date: 2019–04–01
  29. By: Xavier Fairise; François Langot; Ze Zhong Shang
    Date: 2018
  30. By: Oladimeji, Y.U.; Abdulsalam, Z.; Oyewole, S.O.
    Keywords: Consumer/Household Economics
    Date: 2017–10
  31. By: Klug, Thorsten; Mayer, Eric; Schuler, Tobias
    Abstract: We investigate for the case of Germany the positive correlation between the corporate saving glut in the non-financial corporate sector and the current account surplus from a capital account perspective. By employing sign restrictions our findings suggest that mostly labor market, world demand and financial friction shocks account for the joint dynamics of excess corporate saving and the current account surplus. Household saving shocks, in contrast, cannot explain the correlation. We conclude that the corporate saving glut, explained through these factors, is the main driver of the current account surplus.
    Keywords: current account,corporate saving,macro shocks
    JEL: E32 F32
    Date: 2019
  32. By: Seres, Gyula (Tilburg University, TILEC)
    Abstract: This paper considers dynamic pricing strategies in a durable good monopoly model with uncertain commitment power to set price paths. The type of the monopolist is private information of the firm and not observable to consumers. If commitment to future prices is not possible, the initial price is high in equilibrium, but the firm falls prey to the Coase conjecture later to capture the residual demand. The relative price cut is increasing in the probability of commitment as buyers anticipate that a steady price is likely and purchase early. Pooling in prices may occur for perpetuity if commitment is suciently weak. Polling for innity is also preserved if committing to a high price is endogenously chosen by the firm.
    Keywords: monopoly; commitment; Information asymmetry
    JEL: D42 L12 D61 D82
    Date: 2019
  33. By: Mohd Nor Zamry, Nur Syafinaz
    Abstract: Despite having the perfect board, Wells Fargo was hit with a scandal in 2016 as a result from its cross-selling tactics and intense pressure to its employee to achieve impossible targets. Due to its decentralized management, fake accounts were created without customer knowledge, sometimes forging their signatures. This study aims to investigate the impact of corporate governance index in relation to bankruptcy, firm value, company performance and macroeconomics. Multiple regression analysis is applied on the sample of five years of Wells Fargo data from the year 2014 to 2018. The findings shows that corporate governance index has been influenced and affected by internal factors specifically by return on asset (ROA). Moreover, there is a moderate significant relationship between corporate governance index and unemployment rate. The analysis further explained that ROA negatively influence CGI which supports the results from Wells Fargo decentralized management that led to the crisis of the firm.
    Keywords: corporate governance index, return on asset (ROA), Wells Fargo Scandal
    JEL: G3 G34 L1 L2
    Date: 2019–05–05
  34. By: Sanusi, R.A.; Shittu, A.M.; Kehinde, M.O.; Tiamiyu, S.O.; Fapojuwo, O.E.; Oladeinde, K.B.
    Keywords: Food Security and Poverty
    Date: 2017–10
  35. By: Dosi, Giovanni (Institute of Economics, Sant'Anna School of Advanced Studies, Pisa); Mathew, Nanditha (UNU-MERIT, and Institute of Economics, Sant'Anna School of Advanced Studies, Pisa, and IBIMET-CNR, Florence); Pugliese, Emanuele (European Commission, Joint Research Centre (JRC), Seville, Institute of Complex Systems, CNR, Rome)
    Abstract: Economic growth and development of a country involves accumulation of knowledge and dynamic capabilities (Cimoli et al., 2009). Past research has begun to investigate the capability accumulation and macro-economic development of countries and sectors (Dosi et al., 1990), also by means of introduction of new products (Hausmann and Rodrik, 2003). In this work, recognizing that firms are the actual domain in which production takes place, we focus on the firm-level process of capability accumulation and diversification in a developing country. We investigate the relationship between diversification (and coherent diversification) and firm performance by employing an extensive database of Indian manufacturing firms with detailed information on product mix of firms. We claim that such an understanding of firms' incentives to diversify is relevant not only for the corporate management, but also for the diversification of countries and thereby its development. First, we explore the reasons behind firms' strategy to diversify, i.e, which firms choose a broad product scope and whether the change in the scope of the firm results in improved performance in terms of firm profitability and sales growth. Second, we look at the idiosyncratic characteristics of different products, by emphasizing the synergies of a product line with respect to the overall product basket of the firm. In this line, we develop a measure that captures the synergies and economies of scope between different products, and observe that the firms' future performance crucially depend on the interactions between the products that comprise its basket. Overall, our results are consistent with an intangible- capabilities model of firm diversification: diversification results in improved firm performance if the firm has underused capabilities and the new production line is able to exploit them.
    Keywords: Diversification, Coherence, Endogenous Switching
    JEL: L25 L60 O30
    Date: 2019–04–18
  36. By: Ogunbiyi, K.K.; Olajide, O.A.
    Keywords: Food Security and Poverty
    Date: 2017–10
  37. By: Olivier Torrès (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier); Roy Thurik (Erasmus University Rotterdam)
    Abstract: The present article identifies a societal and scholarly neglect for the field of small business ownership and health. We address health capital and its spillover effects and briefly outline a research program discriminating between pathogenic (negative for health) and salutogenic (positive for health) effects for a small business owner's working life.
    Keywords: Small business owners,Entrepreneurship,Health,Well-being,Salutogenesis
    Date: 2018–05
  38. By: Cappelen, Alexander W. (Dept. of Economics, Norwegian School of Economics and Business Administration); Mollerstrom, Johanna; Reme, Bjørn-Atle; Tungodden, Bertil (Dept. of Economics, Norwegian School of Economics and Business Administration)
    Abstract: The meritocratic fairness ideal implies that inequalities in earnings are regarded as fair only when they reflect differences in performance. Consequently, implementation of the meritocratic fairness ideal requires complete information about individual performances, but in practice, such information is often not available. We study redistributive behavior in the common, but previously understudied, situation where there is uncertainty about whether inequality is reflecting performance or luck. We show theoretically that meritocrats in such situations can become very egalitarian in their behavior, and that the degree to which this happens depends on how they trade off the probability of making mistakes and the size of mistakes that they risk making when redistributing under uncertainty. Our laboratory experiments show, in line with our model, that uncertainty about the source of inequality provides a strong egalitarian pull on the behavior of meritocrats. In addition, the external validity of our framework, and the results from the laboratory, are supported in two general population surveys conducted in the United States and Norway.
    Keywords: inequality; fairness; redistribution; responsibility; performance; luck; experiment; survey.
    JEL: C91 D63 D81 H23
    Date: 2019–04–29
  39. By: Muge Adalet McGowan; Juan Antona San Millán
    Abstract: Spain is a highly decentralised country, making the effective implementation of national reforms dependent on regional policies. Some regional disparities are high and need to be reduced. High regional dispersion in education and job outcomes, compounded by low inter-regional mobility, emerge as key drivers of regional inequalities in income and wellbeing. Lifelong learning programmes that take into account regional specific needs would help foster regional skills and attract firms to lagging regions. Ensuring full portability of social and housing benefits across regions, by providing temporary assistance either by the region of origin or the central government, would improve inter-regional mobility. At the same time, barriers to achieving a truly single market limit productivity growth of regions, including the most advanced. Reducing regulatory barriers and better innovation policies would boost productivity. Effective intergovernmental coordination bodies and a well designed interregional fiscal equalisation system will be key to ensuring that regions have the incentives to implement policies for inclusive growth.
    JEL: D24 E24 I24 J24 J61 J65 O31
    Date: 2019–05–21
  40. By: Alawode, Ramatallah Adenike
    Keywords: Agribusiness
    Date: 2017–10
  41. By: Findlay Ronald
    Abstract: This paper studies the political and economic evolution of trade and international relations of the nations and regions of Asia between themselves and the rest of the world over the past millennium, paying particular attention to: the Pax Mongolica and overland trade during the Middle Ages; the European intrusion at the turn of the fifteenth century and the impact of the New World; the spread of European imperialism and the rise of nationalism and the achievement of independence.A final section discusses the comparative evolution of Europe and Asia and the question of why the Industrial Revolution did not first occur in Asia.
    Keywords: Catchup,Dynastic cycle,Malthus-Ricardo model,Globalization
    Date: 2018
  42. By: Kehinde, Mojisola O.; Shittu, Adebayo M.; Ogunnaike, Maria G.; Oyawole, Funminiyi P.; Akisanya, Lois T.
    Keywords: Farm Management
    Date: 2017–10
  43. By: Yasemin Erduman; Okan Eren; Selcuk Gul
    Abstract: This study explores the evolution of the import content of production and exports in Turkey for the 2002-2017 period. Using 2002 and 2012 input-output tables, we estimate the production and imported input use for the remaining years based on a large data set of production and foreign trade for 20 selected sectors, mostly from the manufacturing industry. Import requirement ratios, comprising both direct and indirect linkages, for each sector are calculated using the Leontief inverse matrix. Our findings indicate that import dependency increases for exports, but stays roughly the same for production over time. In general, the import content of production is below the import content of exports. This divergence can mainly be attributed to the services sector, which has relatively low import dependency, yet a significant share in production. Sectors with the highest import requirements are found to be those with higher capital and technology intensity such as coke and refined petroleum products, basic metals and motor vehicles. Agriculture, forestry, and fishery; service and mining sectors are found to have the lowest import requirements.
    Keywords: Input-output tables, Leontief inverse matrix, import content
    JEL: C67 D57 F14 L60
    Date: 2019
  44. By: Gazi Islam (MC - Management et Comportement - Grenoble École de Management (GEM), IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc)
    Date: 2018
  45. By: Thompson, O.A.; Amos, T.T.
    Keywords: Environmental Economics and Policy
    Date: 2017–10
  46. By: Oleg Sidorkin (Leibniz-Institute for East and Southeast European Studies, CERGE-EI); Dmitriy Vorobyev
    Abstract: Under the system of appointing regional governors by the president, which existed in Russia between 2005–2012, governors’ loyalty to the central government and particularly their ability to deliver satisfactory results to the ruling party in national-level elections were crucial to their likelihood of being re-appointed for the next term. In this paper, we show that governors, anticipating the relationship between loyalty and re-appointments, attempted to increase their likelihood of being re-appointed by delivering additional votes to the ruling party, and that these attempts were subject to regional political cycles. We argue that delivering satisfactory results may have different importance to a governor depending on the stage of his term at which elections are held. If elections are held close to the expiration of a governor’s current term, the results are likely to be pivotal to his further political career. Exploiting variation in the starting and expiry dates of Russian regional governors’ terms of office, we find that the winning margins for a pro-government party across Russian regions in national-level elections held between 2007–2012 were substantially higher when elections were closer to the expiration of a regional governor’s term. However, for elections held between 1999–2004, when governors were subject to a direct vote by the regional population, no similar effect is found. We then implement several exercises to identify the source of the additional votes for the ruling party and demonstrate that governors, while unlikely using the means of electoral fraud, exerted efforts to stimulate turnout among ruling party supporters.
    Keywords: political cycle, elections, electoral fraud, Russia
    JEL: D72 D73 P26
    Date: 2018–10
  47. By: Sornette, Didier; Andraszewicz, Sandra; Wu, Ke; Murphy, Ryan O.; Rindler, Philipp; Sanadgol, Dorsa
    Abstract: To study coordination in complex social systems such as financial markets, the authors introduce a new prediction market set -up that accounts for fundamental uncertainty. Nonetheless, the market is designed so that its total value is known, and thus its rationality can be evaluated. In two experiments, the authors observe that quick consensus emerges early yielding pronounced mispricing, which however do not show the standard "bubble -and -crash". The set -up is implemented within the xYotta collaborative platform ( xYotta's functionality offers a large number of extensions of various comple xity such as running several parallel markets with the same or different users, as well as collaborative project development in which projects undergo the equivalent of an IPO (initial public offering) and whose subsequent trading matches the role of financial markets in determining value. xYotta is thus offered to researchers as an open source software for the broad investigation of complex systems with human participants.
    Keywords: experimental asset market,predicion market,uncertainty,experimental economics
    JEL: C90 D80
    Date: 2019
  48. By: Oduntan, O.; Oluyide, O.G.; Aderinola, E.A.
    Keywords: Environmental Economics and Policy
    Date: 2017–10
  49. By: Catherine Laffineur; Eva Moreno-Galbis; Jeremy Tanguy; Ahmed Tritah
    Date: 2018
  50. By: Bcn-Chendo, G.N.; Obasi P.C.; Osuji, M.N.; Nwosu, F.O.; Emenyonu, C.A.; lbcagwa, B.O.; Uhuegbulem, I.J.
    Keywords: Labor and Human Capital, Livestock Production/Industries
    Date: 2017–10
  51. By: Kong, Nathaniel; Hardman, Scott
    Keywords: Social and Behavioral Sciences, plug-in electric vehicle, electric vehicle, incentive
    Date: 2019–05–01
  52. By: Theodor Cimpeanu; The Anh Han; Francisco C. Santos
    Abstract: The design of mechanisms that encourage pro-social behaviours in populations of self-regarding agents is recognised as a major theoretical challenge within several areas of social, life and engineering sciences. When interference from external parties is considered, several heuristics have been identified as capable of engineering a desired collective behaviour at a minimal cost. However, these studies neglect the diverse nature of contexts and social structures that characterise real-world populations. Here we analyse the impact of diversity by means of scale-free interaction networks with high and low levels of clustering, and test various interference paradigms using simulations of agents facing a cooperative dilemma. Our results show that interference on scale-free networks is not trivial and that distinct levels of clustering react differently to each interference strategy. As such, we argue that no tailored response fits all scale-free networks and present which strategies are more efficient at fostering cooperation in both types of networks. Finally, we discuss the pitfalls of considering reckless interference strategies.
    Date: 2019–05
  53. By: Dalton, Patricio (Tilburg University, Center For Economic Research); Rüschenpöhler, Julius (Tilburg University, Center For Economic Research); Uras, Burak (Tilburg University, Center For Economic Research); Zia, Bilal
    Abstract: Can best practices of successful business peers influence the efficiency and growth of small-scale enterprises? Does it matter how this information is disseminated? This paper conducts a field experiment among urban retail shop owners in Indonesia to address these research questions. Through extensive baseline quantitative and qualitative assessments, we develop a handbook of local best practices that associates specific business practices with performance and provides detailed implementation guidance informed by exemplary local shop owners. The handbook is distributed to a randomly selected sample of shop owners and is complemented with three experiential learning modules: one group is invited to watch a documentary video on experiences of highly successful peers, another is offered light in-shop assistance on the implementation of the handbook, and a third group is offered both. Eighteen months after the intervention, we find no effect of offering the handbook alone, but significant impact on practice adoption when the handbook is coupled with experiential learning. On business performance we find sizable and significant improvements as well, up to a 35% increase in profits and 16.7% in revenues. The types of practices adopted map these performance improvements to efficiency gains rather than other channels. The analysis suggests these interventions are simple, scalable, and highly cost-effective.
    Keywords: business practices; small-scale enterprises; peer knowledge; efficiency gains; sicoal learning
    JEL: O12 L26 M20 O31 O33 O17 M50
    Date: 2019
  54. By: Laschewski, Lutz; Tietz, Andreas; Zavyalova, Ekaterina
    Abstract: Agricultural economics and policy planning make use of – and rely on – agricultural statistics. Individual agricultural firms, as they are represented in statistical systems, are usually treated as independent economic decision-makers. Our paper is investigating the impacts of holding structures on statistical and economic parameters. Therefore, the paper will draw on empirical evidence which was generated in a local case study in seven communities in the Northeast of Germany. It is argued that cross-regional investors systematically ’assemble‘ agriholdings based on their overall business strategy. If large holding structures exist, the individual business perspective may create a flawed representation of farm structures.
    Keywords: Land Economics/Use
    Date: 2019–03–01
  55. By: Rodríguez, Julieta A.; Rodríguez, Elsa Mirta M.; Manchado, Juan C.; Lupín, Beatriz; Lucca, Florencia
    Abstract: Con el fin de analizar cómo la información sobre aptitud culinaria, el bajo contenido de agroquímicos, el precio, el packaging y etiquetado afectan la valoración de una papa de calidad diferenciada, se realizó una Subasta Experimental con dos variedades, Frital INTA y Spunta.
    Keywords: Preferencias del Consumidor; Disposición a Pagar; Subasta; Papa;
    Date: 2018–12
  56. By: Olivier Bargain (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique - AMU - Aix Marseille Université - EHESS - École des hautes études en sciences sociales); Laurine Martinoty (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)
    Abstract: The Great Recessions was essentially a 'mancession' in countries like Spain, the UK or the US, i.e. it hit men harder than women for they were disproportionately represented in heavily affected sectors. We investigate how the mancession, and more generally women's relative opportunities on the labor market, translate into within-household redistribution. Precisely, we estimate the spouses' resource shares in a collective model of consumption, using Spanish data over 2006-2011. We exploit the gender-oriented evolution of the economic environment to test two original distribution factors: first the regional-time variation in spouses' relative unemployment risks, then the gender-differentiated shock in the construction sector (having a construction sector husband after the outburst of the crisis). Both approaches conclude that the resource share accruing to Spanish wives increased by around 7-9 percent on average, following the improvement of their relative labor market positions. Among childless couples, we document a 5-11 percent decline in individual consumption inequality following the crisis, which is essentially due to intrahousehold redistribution.
    Keywords: mancession,intrahousehold allocation,unemployment risk
    Date: 2018
  57. By: Masuda, Kazuya
    Abstract: Background: An estimated 216 million cases of malaria occurred worldwide every year. Cross sectional studies have reported negative association between maternal education and child malaria risks, but no randomized trial has confirmed a causal relationship between these two factors. I utilized the free primary education reform in Uganda to assess the causal effects of maternal schooling on the child’s risk of malaria infection.Methods: Malaria biomarkers of children aged
    Date: 2019–03
  58. By: Dieter Pennerstorfer; Christoph Weiss; Andreas Huber
    Abstract: We investigate the relationship between external quality evaluation via experts, firm reputation and product prices and extend the existing empirical literature in three dimensions. First, we empirically account for endogenous reputation effects. An increase in quality has an immediate positive impact on product prices but also improves the reputation of a firm, which contributes to higher prices in the future. Secondly, we analyse umbrella effects of reputation: investments in product quality of the ’top product‘ are particularly profitable as they also generate a ’ reputational dividend‘ for other products with lower quality. And finally, we investigate selection effects in expert evaluations. Experts typically evaluate a selection of products only and we find endogenous selection effects to be important for analysing product quality empirically.
    Keywords: experts evaluations, hedonic pricing, wine quality, endogenous reputation, sample selection, umbrella branding
    JEL: C33 L66 Q11
    Date: 2019–03
  59. By: Numa, W.D.; Obayelu, A.E.; Sanusi, R.A.; Bada, B.A.
    Keywords: Resource /Energy Economics and Policy
    Date: 2017–10
  60. By: Kautz, Wolf-Eckhard
    Keywords: Bildungsmanagement,Bildungsdienstleistung,Dienstleistung,Dienstleistungsprozess,Dienstleistungserstellung,Studium,Fernstudium,Eductional Services,Services,Study,Distance learning
    Date: 2018
  61. By: Westphal, Matthias; Kamhöfer, Daniel A.
    Abstract: Female college graduates are less likely to bear children but once a mother, they have more children than non-college graduates. - RWI presents first evidence on why college educated women have less children than women who did not go to college. While tertiary education has a direct negative impact on women's probability to become a mother, college educated mothers bear more children than noncollege educated mothers. Career disadvantages might discourage highly educated women from having children. More flexible working hours and means-tested maternal leave benefits could reduce the baby gap.
    Date: 2019
  62. By: Ellis Mia; McMillan Margaret
    Abstract: Tanzania is rich with natural resources, which have significant potential to contribute to the country’s economic development.Several laws recently passed in Tanzania are dedicated to establishing linkages between foreign firms in natural resource extraction and the local economy. This paper documents this legislation and the institutions set up to enforce and monitor these laws.Effectiveness of local content legislation and the potential for firms in the mining sector to contribute to local development are then evaluated using a combination of qualitative and quantitative evidence. We then examine other developing countries’ experiences with local content legislation, drawing lessons for Tanzania.
    Keywords: Extractive industries,Local content,Mining,Natural gas,Natural resources
    Date: 2018
  63. By: Ghidoni, Riccardo (Tilburg University, Center For Economic Research); Suetens, Sigrid (Tilburg University, Center For Economic Research)
    Abstract: Sequentiality of moves in an infinitely repeated prisoner’s dilemma does not change the conditions under which mutual cooperation can be supported in equilibrium as compared to simultaneous decision-making. The nature of the interaction is different, however, given that the second mover in a sequential-move game does not face strategic uncertainty in the stage game. We study in an experiment whether sequentiality has an effect on cooperation rates. We find that with intermediate incentives to cooperate, sequentiality increases cooperation rates by around 40 percentage points after learning, whereas with very low or high incentives to cooperate, cooperation rates are respectively very low or high in both settings.
    Keywords: cooperation; infinitely repeated games; sequential prisoner's dilemma; strategic uncertainty; experiment
    JEL: C70 C90 D70
    Date: 2019
  64. By: Jessica Pac (Columbia University); Ann P. Bartel (Columbia University); Christopher Ruhm (University of Virginia Frank Batten School of Leadership and Public Policy); Jane Waldfogel (Columbia University)
    Abstract: This paper evaluates the effect of Paid Family Leave (PFL) on breastfeeding, which we identify using California’s enactment of a 2004 PFL policy that ensured mothers up to six weeks of leave at a 55 percent wage replacement rate. We employ synthetic control models for a large, representative sample of over 270,000 children born between 2000 and 2012 drawn from the restricted-use versions of the 2003 – 2014 National Immunization Surveys. Our estimates indicate that PFL increases the overall duration of breastfeeding by nearly 18 days, and the likelihood of breastfeeding for at least six months by 5 percentage points. We find substantially larger effects of PFL on breastfeeding duration for some disadvantaged mothers.
    Keywords: paid family leave, maternity leave, child health, breastfeeding
    JEL: I12 I18 J13 J18
    Date: 2019–05
  65. By: Berkel Hanna
    Abstract: This paper is the first to use a panel dataset from the African continent to investigate the relationship between formalization and firm outcomes.Instead of applying a binary formality indicator, it constructs a conceptual framework that regards informality as a continuum consisting of four degrees. The quantitative data includes 516 manufacturing enterprises which are analysed through a matched double difference approach. Moreover, the study explores participant observation as well as semi-structured interviews with government officials, experts, and entrepreneurs to explain the quantitative results and to examine additional effects of formalization.It suggests that the most informal firms do not benefit from formalization due to their underlying conditions. Other, more formal enterprises benefit but there is scope for increasing the benefits and decreasing the costs of formalization. Further, an improvement of the costs and benefits is not enough: better institutions are needed.
    Date: 2018
  66. By: Fapojuwo, O.E.; Shittu, A.M.; Ogunnaike, M.G.; Kehinde, M.O.; Oyawole, F.P.; Akisanya, L.T.
    Keywords: Labor and Human Capital
    Date: 2017–10
  67. By: Valtiala, Juho PIetari; Ovaska, Sami; Sipiläinen, Timo
    Abstract: The agricultural sector in Finland has witnessed a rapid structural change since the Finnish EU-accession. At the same time, agricultural land prices have increased considerably. Using a hedonic pricing model, we investigated the characteristics affecting the prices of parcels sold. We analysed a dataset consisting of over a thousand additional agricultural land transactions and discovered several regional and production related characteristics affecting prices. The generalised additive modelling framework enabled estimation of a regional price level as a smooth trend surface. The model captured spatial dependency in the prices while retaining the sensible interpretation of the results.
    Keywords: Land Economics/Use
    Date: 2019–02–27
  68. By: Nmadu, J.N.; Coker, A.A.A.; Adams, E.
    Keywords: Environmental Economics and Policy
    Date: 2017–10
  69. By: Thu Dao (UCL IRES - Institut de recherches économiques et sociales - UCL - Université Catholique de Louvain, Bielefeld University); Frédéric Docquier (UCL IRES - Institut de recherches économiques et sociales - UCL - Université Catholique de Louvain, FNRS - Fonds National de la Recherche Scientifique [Bruxelles], FERDI - Fondation pour les Etudes et Recherches sur le Développement International); Mathilde Maurel (CES - Centre d'économie de la Sorbonne - CNRS - Centre National de la Recherche Scientifique - UP1 - Université Panthéon-Sorbonne, FERDI - Fondation pour les Etudes et Recherches sur le Développement International); Pierre Schaus (UCL - Université Catholique de Louvain)
    Abstract: This paper sheds light on the global migration patterns of the past 40 years, and produces migration projections for the 21st century, for two skill groups, and for all relevant pairs of countries. To do this, we build a simple model of the world economy, and we parameterize it to match the economic and socio-demographic characteristics of the world in the year 2010. We conduct a backcasting exercise which demonstrates that our model fits the past trends in international migration very well, and that historical trends were mostly governed by demographic changes. We then describe a set of migration projections for the 21st century. In line with backcasts, our world migration prospects and emigration rates from developing countries are mainly governed by socio-demographic changes: they are virtually insensitive to the technological environment. As far as OECD countries are concerned, we predict a highly robust increase in immigration pressures in general (from 12 in 2010 to 17-19% in 2050 and 25-28%in 2100), and in European immigration in particular (from 15% in 2010 to 23-25% in 2050 and 36-39% in 2100). Using development policies to curb these pressures requires triggering unprecedented economic takeoffs in migrants countries of origin. Increasing migration is therefore a likely phenomenon for the 21st century, and this raises societal and political challenges for most industrialized countries.
    Keywords: international migration,migration prospects,world economy,inequality
    Date: 2018–03–26
  70. By: Richter, Philipp M.; Runkel, Marco; Schmidt, Robert C.
    Abstract: The loss of international competitiveness of domestic industries remains a key obstacle to the implementation of effective carbon prices in a world without harmonized climate policies. We analyze countries' non-cooperative choices of emissions taxes under imperfect competition and mobile polluting firms. In our general equilibrium setup with trade, wage effects prevent all firms from locating in the same country. While under local or no pollution countries achieve the first-best, under transboundary pollution taxes are inefficiently low and lower than under autarky where only the "standard" free riding incentive distorts emissions taxes. This effect is more pronounced when polluting firms are mobile.
    Keywords: FDI,Strategic Environmental Policy,Firm Location,Carbon Leakage,General Equilibrium
    JEL: F12 F18 H23
    Date: 2019
  71. By: Chiemela, Stella Nwawulu; Chiemela, Chinedum Jachinma; Chiebonam, Onyia Chukwuemeka; Mgbebu, Ezekiel Sunday
    Keywords: Environmental Economics and Policy
    Date: 2017–10
  72. By: N., Osuji maryann; Eze C.C, Ibekwe; U.C, Obasi; G.N., Nemchendo; I.O.U., Mwaiwu; I., Uhuegqulem; U.G, Anyanwu
    Keywords: Agricultural Finance
    Date: 2017–10
  73. By: François Facchini (CES - Centre d'économie de la Sorbonne - CNRS - Centre National de la Recherche Scientifique - UP1 - Université Panthéon-Sorbonne)
    Abstract: Communication presented at the "Macroeconomics, rationality, and institutions" Workshop, December 14-15, 2017, Facoltà di Economia – Sapienza Università degli Studi di Roma
    Keywords: Political economics,Democratic,constitutional measures
    Date: 2017–12–14
  74. By: Syazwani, Anis
    Abstract: The study examines the impact of Tobin’s Q or market valuation determinants on firm corporate governance of MISC Berhad. Tobin’s Q of the firm represents the ratio of market capitalization plus long-term debt to total assets. This study employs time series regression analysis from 2012 to 2016. The findings show that only internal factors giving significant impact to the market valuation of the firm when it has been tested solely in Model 1 and combined for both internal and external factors in Model 3. Meanwhile, there is no significant result when the external factors were tested solely in Model 2. The multiple linear regression analysis shows that the Altman Z score is the most significant and positively influenced the market valuation of MISC Berhad.
    Keywords: Tobin’s Q, Market Valuation, Internal Factors, External Factors
    JEL: E3 E31 G32 G33
    Date: 2019–05–07
  75. By: Ekpa, Daniel; Akinyemi, Mudashiru; Ibrahim, Hassan Ishaq
    Keywords: Livestock Production/Industries
    Date: 2017–10
  76. By: Rémi Beulque (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Franck Aggeri (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Fabrice Abraham (RENAULT); Stéphane Morel (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique)
    Abstract: To what extent can reuse and recycling circular business models create and capture value in the long run? This question, which constitutes a major concern for firms and public actors, remains understudied in Strategy. Through a longitudinal study of the highly circular automotive end-of-life, we show that the concretization of these value potentials rests upon a collective activity, we call industry engineering, which aims at structuring new markets, value chains and value networks.
    Abstract: En quoi les business models circulaires, fondés sur des activités de réutilisation et de recyclage organisées collectivement, permettent-ils aux entreprises de créer et capter de la valeur de manière pérenne ? Cette question, au cœur des préoccupations des entreprises et des décideurs publics, demeure émergente en stratégie. Au travers d'une étude longitudinale de la fin de vie automobile, qui bénéficie d'un haut niveau de circularité, nous montrons que la concrétisation de ces potentiels de valeur se fonde sur une activité collective méconnue – l'ingénierie de filière – qui vise à structurer de nouveaux marchés, réseaux et chaînes de valeur.
    Keywords: business model,circular economy,circular business models,value chain,value networks,économie circulaire,business models circulaires,chaîne de valeur,réseaux de valeur
    Date: 2018
  77. By: Obrovsky, Michael; Riegler, Hedwig
    Abstract: Die derzeit beim Development Assistance Committee (DAC) laufende Reform der Statistik über Entwicklungsfinanzierung (DAC-Statistik) gibt Anlass zur Sorge. Die teils schon umgesetzten und noch in Diskussion befindlichen Änderungen untergraben die bisher einheitliche Messbasis, indem sie zwei sehr unterschiedliche Kategorien mischen: "cash flow" (Zahlungsflüsse) mit "grant equivalent" (Zuschussäquivalent). Technische Integrität und Glaubwürdigkeit der Statistik der internationalen Entwicklungshilfeleistungen drohen damit verloren zu gehen. Die österreichische Entwicklungszusammenarbeit (EZA) ist gefordert, hier klar Stellung zu beziehen.
    Date: 2019
  78. By: Christa N. Brunnschweiler (University of East Anglia); Steven Poelhekke (University of Auckland, Vrije Universiteit Amsterdam and Tinbergen Institute)
    Abstract: Does institutional change in the petroleum sector lead to more oil and gas exploration and discoveries? Foreign ownership and investment in the sector has traditionally been unrestricted. We document that this is no longer the case; foreign-domestic partnerships are the norm today. Tracking changes in legislation between 1867 and 2008 for a panel of countries, we show that switching to foreign ownership results in more drilling and more discoveries of petroleum than domestic ownership. Switching to partnership yields even more drilling, but yields fewer discoveries. Discoveries, and the intensity and quality of exploration drilling, are endogenous to industry-specific institutional change.
    Keywords: discoveries, oil and gas, natural resources, institutions
    JEL: E02 O43 Q30
    Date: 2019–05–10
  79. By: A.E, Sodeeq; O.F, Ashaolu; A.G, Ibrahim; L.O, Lamidi; M.B, Salawu; S.D, Idowu; B.T, Ogunleye
    Keywords: Livestock Production/Industries
    Date: 2017–10
  80. By: Ajie, E.N.; Eche, C.
    Keywords: Labor and Human Capital
    Date: 2017–10
  81. By: Khan, Rana Ejaz Ali; Bari, Khadija Malik; Raza, Muhammad Ali
    Abstract: This paper attempts to highlight socioeconomic determinants of child mortality in Pakistan. Binary logistic regression is applied to 7297 observations from the Pakistan Demographic and Health Survey 2012-13. The results reveal that probability of child mortality decreases with greater birth-interval, child’s large size at birth, more family members, mother’s education, mother’s ownership of assets and mother’s decision-making at the household level. Policy makers can work to improve mothers’ characteristics such as fertility behavior, education, empowerment and decision-making at the household level, to reduce child mortality.
    Keywords: Child mortality Fertility behavior Women empowerment
    JEL: I10 I12 I15
    Date: 2018–12–01
  82. By: Champredonde, Marcelo; Cendón, María Laura; Tedesco, Lorena; Lupín, Beatriz; Pérez, Stella Maris; Cincunegui, Carmen; Roldán, Camila
    Abstract: Pertinencia y factibilidad de un sello que distinga la calidad regional del aceite de oliva virgen extra del Sudoeste Bonaerense desde la perspectiva de los productores y la valoración de los consumidores.
    Keywords: Aceite de Oliva; Atributos de Calidad; Marcas;
    Date: 2018–12
  83. By: Taran Grove; Akram Reshad; Andrey Sarantsev
    Abstract: We fit a dynamic factor model: monthly inflation-adjusted S\&P 500 returns vs 10-year trailing earnings yield (the inverse of Shiller price-to-earnings ratio), 10-year trailing dividend yield, and 10-year real interest rate. We model these three factors as AR(1) in three dimensions. We use long-term data from 1881 compiled by Robert Shiller, available at However, in the short run, fluctuations have heavy tails and do not significantly depend on previous values. We use Bayesian regression with normal residuals. We show significant dependence of long-term returns on the initial factor values.
    Date: 2019–05
  84. By: Florian Lindner (Max Planck Institute for Research on Collective Goods); Michael Kirchler (University of Innsbruck); Stephanie Rosenkranz (Utrecht University School of Economics); Utz Weitzel (Radboud University)
    Abstract: A pervasive feature in the finance industry is relative performance, which can include extrinsic (money), intrinsic (self-image), and reputational (status) motives. In this paper, we model a portfolio decision with two assets and investigate how reputational motives (i.e., the public announcement of the winners or losers) influence risk-taking in investment decisions vis-a-vis intrinsic motives. We test our hypotheses experimentally with 864 students and 330 financial professionals. We find that reputational motives play a minor role among financial professionals, as the risk-taking of underperformers is already increased due to intrinsic motives. Student behavior, however, is mainly driven by reputational motives with risk-taking levels that come close to those of professionals when winners or losers are announced publicly. This indicates that professionals show higher levels of intrinsic (self-image) incentives to outperform others compared to non-professionals (students), but a similar behavior can be sparked among the latter by adding reputational incentives.
    Keywords: experimental finance, behavioral economics, investment game, rank incentives, social status, reputational motives
    JEL: G02 G11 D03 C93
    Date: 2019–05
  85. By: Afelumo, B.E.; Afolabi, J.A.
    Keywords: Financial Economics
    Date: 2017–10
  86. By: Brodbeck, Karl-Heinz
    Abstract: Der Begriff "Arbeit" hat im Marx'schen Werk einen deutlichen Wandel vollzogen. In seiner Frühphilosophie verband Marx eine Aufhebung der Arbeit mit dem Übergang zu einer kommunistischen Gesellschaft. Mit der Ausarbeitung seines Hauptwerkes "Das Kapital" sagte er dagegen, dass Arbeit eine "ewige Naturbedingung" menschlicher Existenz sei, die nur ihre Form verändern könne. In seiner späteren Theorie der Arbeit findet sich zudem ein immanenter Widerspruch: Marx entgeht, dass sich der Begriff der Arbeit nicht von der Form der Vergesellschaftung durch die menschliche Sprache trennen lässt. Unter Rückgriff auf zeitgenössische Autoren von Marx können diese Versäumnisse der Theorie aufgedeckt und "Arbeit" neu interpretiert werden.
    Keywords: Marx'sche Frühschriften,geistige und körperliche Arbeit,Sprache und Gesellschaft,Arbeit und Technologie,Andrew Ure,Philosophie der Maschinerie
    JEL: B14 B24 J01
    Date: 2018
  87. By: Pierpaolo Battigalli; Martin Dufwenberg
    Abstract: The mathematical framework of psychological game theory is useful for describing many forms of motivation where preferences depend directly on own or othersbeliefs. It allows for incorporation of emotions, reciprocity, image concerns, and self-esteem in economic analysis. We explain how and why, discussing basic theory, a variety of sentiments, experiments, and applied work. Keywords: psychological game theory; belief-dependent motivation; reciprocity; emotions; image concerns; self-esteem JEL codes: C72; D91
    Date: 2019
  88. By: Akinwekomi, O.E.; Obayelu, A.E.; Afolabi, O.I.
    Keywords: Agribusiness
    Date: 2017–10
  89. By: Caroline Hambye; Bart Hertveldt; Bernhard Klaus Michel
    Abstract: For a finer analysis of competitiveness and value chain integration, this working paper presents a micro-data based breakdown of manufacturing industries in the 2010 Belgian supply-and-use and input-output tables into export-oriented and domestic market firms. The former are defined as those firms that export at least 25% of their turnover. Analyses based on the resulting export-heterogeneous IOT reveal differences between the two in terms of input structures and import behaviour: export-oriented manufacturers have lower value-added in output shares, and they import proportionally more of the intermediates they use. Moreover, exports of export-oriented manufacturers generate a substantial amount of value added in other Belgian firms, in particular providers of services. The policy implication of these results is that Belgium's external competitiveness depends not only on exporters but also on firms that mainly serve the domestic market. To maximise the impact of export promotion in terms of domestically generated value added, the entire value chain for the production of exports must be taken into account.
    JEL: C67 F14 F15
    Date: 2018–09–26
  90. By: Sanusi, M.M.; Oyedeji, O.O.; Akerele, D.
    Keywords: Environmental Economics and Policy
    Date: 2017–10
  91. By: Nguyen, Yen (Tilburg University, School of Economics and Management)
    Abstract: This thesis consists of three chapters. My central interest is to study the interaction between emotions and decision making, using affective computing technologies for emotion induction, measurement and analysis. The first chapter evaluates the effect of induced emotional states on risk tolerance. The second chapter explores the causal relationship between specific emotional states and cooperation, by assessing whether specific incidental emotions induce greater or less cooperation in a social dilemma environment. The final chapter considers whether the asymmetric availability of emotion data in a canonical bargaining situation between a buyer and a seller yields an advantage for the person who holds the data.
    Date: 2019
  92. By: Abramova, Inna; Core, John; Sutherland, Andrew
    Abstract: We study how short-term changes in institutional owner attention affect managers’ short-term disclosure choices. Holding institutional ownership constant and controlling for industry-quarter effects, we find that managers respond to attention by increasing the number of forecasts and 8-K filings. Rather than alter the decision of whether to forecast or to provide more informative disclosures, attention causes minor disclosure adjustments. Although attention explains significant variation in the quantity of disclosure, we find little change in abnormal volume and volatility, the bid-ask spread, or depth. Overall, our evidence suggests that management responds to temporary institutional investor attention by making disclosures that have little effect on information quality or liquidity.
    Keywords: disclosure, management forecasts, 8-K filings, information quality, liquidity, institutional ownership, passive investors, corporate governance, monitoring
    JEL: G1 G12 G14 G23 G32 G34
    Date: 2019–04–11
  93. By: Kuye, O.O.; Ettah, O.I.; Oniah, M.O.; Egbe, B.M.
    Keywords: Agricultural Finance
    Date: 2017–10
  94. By: Mamburu Mulalo
    Abstract: The growth of firms has been shown to have a meaningful impact on the health of firms and the economy in general. As the body of literature dedicated to understanding high-growth firms has expanded, an interest in the persistence of growth has become even more relevant.This is because persistence of growth has significant implications for the outcomes that might reasonably be expected from public policy explicitly targeting high-growth firms. Using firm-level data, this paper adopts a quantile-regression approach and analyses whether the performance of firms at the tails of the growth distribution is persistent.It finds a strong, negative serial correlation of growth among South African firms, particularly among smaller firms and those at the tails of the growth distribution. This suggests that a more nuanced approach by policymakers is necessary in regard to high-growth firms.
    Keywords: Firm growth,High-growth firms,Regression analysis
    Date: 2018
  95. By: Dell'Era, Michele
    Abstract: This paper studies expert advice when an influence-hungry expert derives an intrinsic benefit from influencing a client’s decision. A consulting paradox arises: the more the client needs advice, the less accurate is expert advice. The reason is that the expert’s benefit from influence engenders an incentive to misreport information which is positively related to the client’s need of advice. This paradox advances the debate on consulting beyond its focus on commissions and provides a new explanation to experts’ misreporting of information. Finally, the consulting paradox sheds light on the challenges posed by influence-hungry experts to client protection authorities and the consulting industry.
    Keywords: Expert Advice; Influence-Hungry Experts; Consulting Paradox
    JEL: D82 D83 M21
    Date: 2019–05–02
  96. By: Jeffrey Terziev
    Abstract: Research shows that a diverse teaching force may help states and districts close large, persistent racial and ethnic achievement gaps and improve the educational outcomes of minority students. In particular, the research finds benefits for black students.
    Keywords: rel ma, mid-atlantic, infographic, april 2019, diverse, teaching force, education, outcomes, improve, minority, students
    JEL: I
  97. By: Tobias Gruhle (Johannes Gutenberg University Mainz); Philipp Harms (Johannes Gutenberg University Mainz)
    Abstract: In this paper, we present evidence that countries with a higher share of services in GDP exhibit lower current account balances. We argue that this relationship is compatible with the notion that producer services raise aggregate productivity by enhancing increasing returns to specialization, and we develop a model in which the deregulation of the services industry results in higher GDP growth, a reallocation of resources into the services industry, and a temporary current account deficit. We demonstrate that our theoretical argument is supported by the data, even if we control for a multitude of other factors that potentially affect the current account. Finally, we relate our study to the IMF’s external balance assessment (EBA) exercise and demonstrate that, for several countries, the “current account gap” shrinks if we account for producer services.
    JEL: F41 O14 F32
    Date: 2019–05–04
  98. By: Nicolas Scelles (University of Stirling); Boris Helleu (CesamS - Centre d'étude sport et activités motrices - UNICAEN - Université de Caen Normandie - NU - Normandie Université); Christophe Durand (CesamS - Centre d'étude sport et activités motrices - UNICAEN - Université de Caen Normandie - NU - Normandie Université); Liliane Bonnal (CRIEF - Centre de Recherche sur l'Intégration Economique et Financière - Université de Poitiers); Stephen Morrow (University of Stirling)
    Abstract: The aim of this article is to investigate the explanatory variables of the number of Facebook fans and Twitter followers for professional sports clubs based on the financial value literature. Such explanatory variables are related to local market conditions and on-field and off-field performance. Based upon a sample of North American major league clubs and the most valuable European soccer clubs as evaluated by Forbes over the 2011-2013 period (423 observations), our results indicate a range of variables with a significant positive impact on the number of social media fans: population, no competing team in the market, current sports performance, historical sports performance, facility age, attendance, operating income, expenses/league mean, and being an English football club. An improved understanding of the effectiveness of clubs' social media presence is important for contemporary sport managers in terms of enhancing supporter communication, involvement, and accountability, as well as maximizing clubs' revenue generation possibilities. Our findings could help sport managers to realize their clubs' social media potential in pursuit of these objectives, specifically to understand which variables are under-exploited and why some clubs over-perform, which will allow managers to prioritize decisions to increase their number of social media fans and financial value.
    Keywords: financial value JEL Classification: L83,on-field and off-field performance variables,social media,Facebook fans,Twitter followers,professional sports clubs,North America,Europe,local market variables,Z23
    Date: 2017–12
  99. By: Janke, Katharina; Propper, Carol; Sadun, Raffaella
    Abstract: We investigate whether top managers affect the performance of large and complex public sector organizations, using as a case study CEOs of English public hospitals (large, complex organizations with multi-million turnover). We study the extent to which CEOs are differentiated in terms of their pay, as well as a wide range of hospital production measures including inputs, intermediate operational outcomes and clinical outcomes. Pay differentials suggest that the market perceives CEOs to be differentiated. However, we find little evidence of CEOs' impact on hospital production. These results question the effectiveness of leadership changes to improve performance in the public sector.
    Keywords: CEOs; Hospitals; NHS; Public sector; style
    JEL: H51 I11 L32 M12
    Date: 2019–05
  100. By: Vásquez Cordano, Arturo Leonardo
    Abstract: El presente documento analiza, de manera sintética, cómo la revolución de las energías renovables puede afectar en la próxima década el balance de oferta y demanda de litio a nivel mundial. Analizando la información disponible sobre el consumo y oferta del carbonato de litio, se esbozan algunos escenarios sobre la potencial evolución del mercado del litio. Finalmente, se analiza las posibilidades de desarrollar los recursos de litio en el Perú durante la próxima revolución renovable.
    Keywords: Litio; energía renovable; balance de oferta y demanda; Perú; Lithium; renewable resources
    JEL: L61
    Date: 2018–08
  101. By: Jolly, Suyash (Lund University); Grillitsch, Markus (Lund University); Hansen, Teis (Lund University)
    Abstract: Despite significant interest in regional industrial restructuring in economic geography, surprisingly scarce attention has been paid to the changing role of agency over time. The current paper develops a framework for understanding the role of multiple types of agents and the agency they exercise for new path development. The framework is employed in a longitudinal study of industry development in Värmland, Sweden, from forestry towards a bio-economy. The analysis highlights how actors exercise very different types of agency in different periods of path development.
    Keywords: Bio-economy; Värmland; agency; path development; longitudinal
    JEL: B52 L73 L78 O30 P48 Q50 R11
    Date: 2019–05–10
  102. By: Jack Gettens; Alexis Henry
    Abstract: This study, which is described fully in Gettens and Henry (2019), is based on interviews of 35 low-income DI beneficiaries living in the Worcester, Massachusetts area. We found that study participants used their formal income, mainly DI payments, to support most of their consumption and thus, consumption levels for most were low.
    Keywords: Social Security Disability Insurance, low-income populations, financial management
    JEL: I J
  103. By: Akinyemi, S.O.S; Adebisi-Adelani, O.; Layade, A.A.; Adegbite, O.; Arogundade, O.; Fajinmi, O.B.; Kumar, L.
    Keywords: Production Economics
    Date: 2017–10
  104. By: Virpi Sorsa (Hanken School of Economics - Hanken School of Economics); Heini Merkkiniemi; Nada Endrissat (BFH - Bern University of Applied Sciences); Gazi Islam (MC - Management et Comportement - Grenoble École de Management (GEM), IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc)
    Abstract: While interest in art-based interventions is growing rapidly, little is known about the aesthetic, material, and interpersonal mechanisms by which art interventions, and musical interventions in particular, operate. We address this gap by drawing from an in-depth case study of a musical intervention in a professional ice-hockey team in Finland. At the time of the study, the organization faced a serious crisis, having lost 11 sequential games, leading its managers to search for "alternative" means for promoting social cohesion, and subsequently engaging in an arts-based musical intervention. Our findings examine how material objects and collective synchronization rhythms grounded the interpersonal interactions of team members and mediated members' attempts to transform personal subjective experiences into collective collaboration. We draw out the conceptual implications of our findings for understanding, on the one hand, the collective nature of aesthetic processes, and on the other hand, the materially mediated processes of communication. In terms of practical implication, we contribute to understanding the social dynamics and transformative organizational possibilities of artistic interventions that generate value for the organization and its members.
    Keywords: arts-based intervention,musical intervention,aesthetics,embodied communication,materiality,organizational communication
    Date: 2018–04
  105. By: Schmidt, Christoph M.
    Abstract: Praktische Wirtschaftsprobleme statt Theoriedebatten: Studie untersucht Geschichte des RWI - Leibniz-Institut für Wirtschaftsforschung. - Zwei unabhängige Wirtschaftshistoriker haben anlässlich seines 75-jährigen Bestehens die Geschichte des RWI - Leibniz-Institut für Wirtschaftsforschung aufgearbeitet. Sie entdeckten viele Konstanten: Schon in der Nachkriegszeit forschte das RWI in einem theoriegeprägten Umfeld vor allem zu praktischen Problemen der Wirtschaftspolitik. Seit seiner Gründung als 'Abteilung Westen' des Instituts für Konjunkturforschung galt es als Speerspitze bei der Erstellung von Konjunkturprognosen. Rechtlich unabhängig wurde das RWI 1943. Anfang der 2000er Jahre entwickelte sich das Institut dann zu einem Wegbereiter der evidenzbasierten Politikberatung.
    Date: 2018
  106. By: Mihaela Teodorescu (Valahia University Targoviste); Mihai Mieila (Valahia University Targoviste)
    Abstract: The leasing agreements represent an important share within theo perations of capital assets financing. However, from the stand point of the user, the nominal costs implied by lease may appear as superior to those incurred in case offinancing through the buy-and-borrowalternative. Based onthe provisions of the Romanian Fiscal Code,the paper tries to analyzethe influence of taxation over theimplied costsfrom the user’s viewpoint. Considering financial leaseas an alternative to long-term borrowing,the first part of the article tries to point outthe influence of taxregulations upon thecost of the financial leasing. Thesecond partof the paper is dedicatedto the features and fiscal implications of the operating lease, presentingvarious situations,thecash flowsrelated to taxationinfluencingtheamountofthe requested rental payments.
    Keywords: financial leasing,operatingleasing, profittax, fiscal depreciation, tax onincomesof micro-enterprises
    JEL: G32 H25
    Date: 2018–11
  107. By: Tasie, C.M.; Wilcox, G.I.
    Keywords: Environmental Economics and Policy
    Date: 2017–10
  108. By: Christopher Hartwell (Bournemouth University); Roman Horvath; Eva Horvathova; Olga Popova
    Abstract: We examine the causal effect of natural resource discoveries on income inequality using the synthetic control method on data from 1947 to 2009. We focus on the natural discoveries in Denmark, Netherlands and Norway in the 1960–1970s and use top 1% and top 10% income share as the measure of income inequality. Many previous studies have been concerned that natural resources may increase income inequality. To the contrary, our results suggest that natural resources decrease income inequality or have no effect. We attribute this effect to the high institutional quality of countries we examine.
    Keywords: Natural resources, income inequality, synthetic control method
    JEL: D31 O13 O15 Q33
    Date: 2019–04
  109. By: Morten Hedegaard; Rudolf Kerschbamer; Mueller Daniel; Jean-Robert Tyran
    Abstract: We use a large and heterogeneous sample of the Danish population to investigate the importance of distributional preferences for behavior in a public good game and a trust game. We find robust evidence for the significant explanatory power of distributional preferences. In fact, compared to twenty-one covariates, distributional preferences turn out to be the single most important predictor of behavior. Specifically, subjects who reveal benevolence in the domain of advantageous inequality contribute more to the public good and are more likely to pick the trustworthy action in the trust game than other subjects. Since the experiments were spread out more than one year, our results suggest that there is a component of distributional preferences that is stable across games and over time.
    Keywords: Distributional preferences, social preferences, Equality-Equivalence Test, representa- tive online experiment, trust game, public goods game, dictator game.
    JEL: C72 C91 D64
    Date: 2019–09
  110. By: Wieling, Torge; Belger, Christian; Kleine-Möllhoff, Peter; Jenisch, Robin; Kutschera, Frederike; Lenz, Oliver; Lödige, Maximilian; Ruoff, Julian
    Abstract: In der Vergangenheit ist der Materialfluss meist mit der Produktion gewachsen. Mit steigender Produktindividualität erhöht sich die Anzahl der zu fertigenden Varianten in der Produktion und somit die Komplexität der Materialflüsse. Im Rahmen dieser Arbeit wurden Möglichkeiten und Methoden zur Aufnahme und Optimierung von Materialflüssen im Zusammenhang mit hoher Variantenvielfalt untersucht.
    Keywords: Materialfluss,Materialflussuntersuchung,Variantenvielfalt,Wertstrommethode,material flow,material flow analysis,variety of versions,value stream method
    Date: 2019
  111. By: Lago Peñas, Santiago; Vaquero-Garcia, Alberto; Sanchez-Fernandez, Patricio; Lopez-Bermudez, Beatriz
    Abstract: This article provides empirical evidence on the effect of fiscal consolidation in decentralized countries. The focus on Spain is justified for three reasons. First, it is one of the OECD countries that has been the most affected by the Great Recession in terms of both GDP and public deficit. Second, it is one of the most decentralized countries in the world. Third, the compliance with fiscal consolidation targets has been very diverse across regions. Using both time series econometrics and the synthetic control method approach (SCM), the authors show that compliance with fiscal targets at the regional level has not involved lower GDP growth rates in the short run.
    Keywords: fiscal consolidation,regional economic growth,great recession
    JEL: H74 R11 H62
    Date: 2019
  112. By: Fix, Blair
    Abstract: What makes the rich different? Are they more productive, as mainstream economists claim? I offer another explanation. What makes the rich different, I propose, is hierarchical power. The rich command hierarchies. The poor do not. It is this greater control over subordinates, I hypothesize, that explains the income and class of the very rich. I test this idea using evidence from US CEOs. I find that the relative income of CEOs increases with their hierarchical power, as does the capitalist portion of their income. This suggests that among CEOs, both income size and income class relate to hierarchical power. I then use a numerical model to test if the CEO evidence extends to the US general public. The model suggest that this is plausible. Using this model, I infer the relation between income size, income class, and hierarchical power among the US public. The results suggests that behind the income and class of the very rich lies immense hierarchical power.
    Keywords: hierarchy,power,functional income distribution,personal income distribution,inequality,capital as power,class
    JEL: D31 D33 B5
    Date: 2019
  113. By: Clarke Damian; Bhalotra Sonia; Gomes Joseph; Venkataramani Atheendar
    Abstract: Raising women’s political participation leads to faster maternal mortality decline. We estimate that the introduction of quotas for women in parliament results in a 9–12 per cent decline in maternal mortality. In terms of mechanisms, it also leads to an 8–11 per cent increase in skilled birth attendance and a 6–11 per cent increase in prenatal care utilization.We find reinforcing evidence from the period in which the United States experienced rapid declines in maternal mortality. The historical decline made feasible by the introduction of antibiotics was significantly greater in states that had longer exposure to women’s suffrage.
    Keywords: Maternal mortality,quotas,suffrage,women's political representation,Gender
    Date: 2018
  114. By: Wroblewski, Angela (Institut fuer Hoehere Studien, Wien); Kleinberger-Pierer, Magdalena; Pohn-Weidinger, Simon; Grasenick, Karin
    Abstract: Die Bundesverfassung sieht als Grundsaetze der Haushaltsfuehrung des Bundes die Wirkungsorientierung sowie Gender Budgeting vor. Damit sind Bund, Laender und Gemeinden verpflichtet, bei der Haushaltsfuehrung die tatsaechliche Gleichstellung von Frauen und Maennern anzustreben. Das vorliegende Reihenpaper enthaelt zwei Beitraege, die sich mit der Umsetzung von Gleichstellungszielen im Rahmen der wirkungsorientierten Haushaltsfuehrung auseinander setzen. Zum einen wird der Prozess der wirkungsorientierten Steuerung im Bundesland Steiermark beschrieben, zum anderen die Umsetzung der Zielsetzung der Erhoehung des Frauenanteils in Professuren und Laufbahnstellen im Wissenschaftsressort.
    Keywords: Wirkungsorientierung, Gender, Gleichstellung, Gleichstellungsziele, Steuerungsmechanismen
    Date: 2019–05
  115. By: Andraszewicz, Sandra; Wu, Ke; Sornette, Didier
    Abstract: A vast literature investigating behavioural underpinnings of financial bubbles and crashes relies on laboratory experiments. However, it is not yet clear how findings generated in a highly artificial environment relate to the human behaviour in the wild. It is of concern that the laboratory setting may create a confound variable that impacts the experimental results. To explore the similarities and differences between human behaviour in the laboratory environment and in a realistic natural setting, with the same type of participants, the authors translate a field study Sornette et al. (under review) with trading rounds each lasting six full days to a laboratory experiment lasting two hours. The laboratory experiment replicates the key findings from the field study but the authors observe substantial differences in the market dynamics between the two settings. The replication of the results in the two distinct settings indicates that relaxing some of the laboratory control does not corrupt the main findings, while at the same time it offers several advantages such as the possibility to increase the number of participants interacting with each other at the same time and the number of traded securities.
    Keywords: laboratoy expriment,field experiment,experimental asset market,replication
    JEL: C90 D80
    Date: 2019
  116. By: Julien Chevallier (IPAG Business School, UP8 - Université Paris 8 Vincennes-Saint-Denis); Stéphane Goutte (LED - Université Paris 8, PSB - Paris School of Business); Khaled Guesmi (IPAG Lab - IPAG Lab - Ipag, École de gestion Telfer / Université d'Ottawa - Université d'Ottawa); Samir Saadi (École de gestion Telfer / Université d'Ottawa - Université d'Ottawa)
    Abstract: This study contributes to the existing literature on the empirical characteristics of virtual currency allowing for a dynamic transition between different economic regimes and considering various crashes and rallies over the business cycle, that is captured by jumps. We combine Markov-switching models with Levy jump-diffusion offer a new model that captures the different sub-period of crises over the business cycle, that is captured by jumps. This method also enables to test the relevance of dynamic measures of regime switching concerning the independent pure-jump process, which are not frequently used in the literature. Bitcoin offers something different than a traditional currency; there is potential value of having a network that helps as a secure repository for the common knowledge of all transactions. Besides, the value of Bitcoin fluctuates so wildly that it may be too risky to serve as a credible store of value.
    Keywords: Bitcoin,Lévy process,Markov-switching model
    Date: 2019–05–06
  117. By: Søren Kjærgaard (University of Southern Denmark); Yunus Emre Ergemen (University of Aarhus and CREATES); Marie-Pier Bergeron Boucher (University of Southern Denmark); Jim Oeppen (University of Southern Denmark); Malene Kallestrup-Lamb (University of Aarhus and CREATES)
    Abstract: Several OECD countries have recently implemented an automatic link between the statutory retirement age and life expectancy for the total population to insure sustainability in their pension systems when life expectancy is increasing. Significant mortality differentials are observed across socio-economic groups and future changes in these differentials will determine whether some socio-economic groups drive increases in the retirement age leaving other groups with fewer years in receipt of pensions. We forecast life expectancy by socio-economic groups and compare the forecast performance of competing models using Danish mortality data and find that the most accurate model assumes a common mortality trend. Life expectancy forecasts are used to analyse the consequences of a pension system where the statutory retirement age is increased when total life expectancy is increasing
    Keywords: Compositional data, forecasting, longevity, pension, socioeconomic groups
    JEL: C22 C23 C53 I12
    Date: 2019–05–09
  118. By: Landaud, Fanny (Dept. of Economics, Norwegian School of Economics and Business Administration)
    Abstract: Family formation has been substantially delayed in recent decades, and birth rates have fallen below the replacement rates in many OECD countries. Research suggests that these trends are tightly linked to recent changes in the labor market; however, little is know about the role played by increases in job insecurity. In this paper, we investigate to what extent the decline in the share of permanent jobs among young workers explains observed delays in age at first cohabitation and age at first child. Using French data on the work and family history of large samples of young adults, we provide evidence that access to permanent jobs has a much stronger effect than access to temporary jobs on the probability of entering a first cohabiting relationship as well as on the probability of having a first child. We find that about half of the increases in age at first cohabitation and at first child can be explained by the rise in unemployment and in the share of temporary jobs among young workers.
    Keywords: job insecurity; unemployment
    JEL: C32 J12 J64
    Date: 2019–04–30
  119. By: Lilas Demmou; Irina Stefanescu; Axelle Arquie
    Abstract: Investment in intangible assets has become an increasingly important driver of productivity growth in OECD countries. Facing stronger informational asymmetries and harder to value collateral, intangible investment is subject to more severe financial constraints and relies more on internal rather than external capital. To test the hypothesis that the availability of finance, and financial development in particular, is more important for productivity growth in sectors that are intensive in intangible assets, an empirical analysis is carried over a panel of 32 countries and 30 industries, from 1990 to 2014. Overall, results confirm that the impact of financial development on labour productivity is not uniform across sectors. It varies based on country-specific institutional settings and sector-specific characteristics such as the intangible asset intensity, financial structure and external financial dependence. Policies and institutional settings may relax financial constraints by: i) altering the overall composition of finance; ii) encouraging competition and iii) strengthening the legal environment in which businesses operate.
    Keywords: Financial Development, Intangible assets, Productivity Growth
    JEL: G10 G21
    Date: 2019–05–17
  120. By: Shaffer Paul
    Abstract: This paper examines the relationship between poverty dynamics, causal pluralism, and mixed method research approaches.It reviews the nature and significance of the shift from the analysis of poverty status to poverty dynamics, discusses different approaches to causal reasoning and causal inference in philosophy and the social sciences, and presents empirical examples of mixed method studies of poverty dynamics.It concludes with a case for causal pluralism and mixed methods on grounds that empirical validation/adjudication is imperfect, knowledge is partial, and many causal systems are inherently complex.
    Keywords: Mixed methods,Poverty Dynamics,Measurement (Poverty),Methodology (Poverty)
    Date: 2018
  121. By: Nwali, Nte I.; Okoro, Frank N.
    Keywords: Demand and Price Analysis
    Date: 2017–10
  122. By: Menoncin, Francesco; Vergalli, Sergio
    Abstract: In this work we solve in a closed form the problem of an agent who wants to optimise the inter-temporal utility of both his consumption and leisure by choosing: (i) the optimal inter-temporal consumption, (ii) the optimal inter-temporal labour supply, (iii) the optimal share of wealth to invest in a risky asset, and (iv) the optimal retirement age. The wage of the agent is assumed to be stochastic and correlated with the risky asset on the financial market. The problem is split into two sub-problems: the optimal consumption, labour, and portfolio problem is solved first, and then the optimal stopping time is approached. The martingale method is used for the first problem, and it allows to solve it for any value of the stopping time which is just considered as a stochastic variable. The problem of the agent is solved by assuming that after retirement he received a utility that is proportional to the remaining human capital. Finally, a numerical simulation is presented for showing the behaviour over time of the optimal solution.
    Keywords: Research Methods/ Statistical Methods
    Date: 2019–05–15
  123. By: Martynova, Natalya; Perotti, Enrico; Suarez, Javier
    Abstract: We analyze the strategic interaction between undercapitalized banks and a supervisor who may intervene by preventive recapitalization. Supervisory forbearance emerges because of a commitment problem, reinforced by fiscal costs and constrained capacity. Private incentives to comply are lower when supervisors have lower credibility, especially for highly levered banks. Less credible supervisors (facing higher cost of intervention) end up intervening more banks, yet producing higher forbearance and systemic costs of bank distress. Importantly, when public intervention capacity is constrained, private recapitalization decisions become strategic complements, leading to equilibria with extremely high forbearance and high systemic costs of bank failure. JEL Classification: G21, G28
    Keywords: bank recapitalization, bank supervision, forbearance
    Date: 2019–05
  124. By: Santoro, Fabrizio; Mdluli, Winnie
    Abstract: The tax-to-GDP ratio in developing countries is still remarkably low for many different reasons. One of the key factors behind poor tax collection is low tax compliance. In this paper we look at compliance with income tax in Eswatini, focusing on one particular dimension – filing of nil returns. Nil-filing represents a sizeable share of returns in many African countries. However, it is largely unexplored in the literature and disregarded by tax agencies, who are more interested in declarations yielding a positive return. For these reasons, we attempt to fill the gap by mapping nil-filing in Eswatini using anonymised administrative data provided by the Swaziland Revenue Authority (SRA). First, we show that over a period of five years about 30 per cent of corporate income tax (CIT) returns are nil every year. This translates into 45 per cent of taxpayers nil-filing in at least one year over the five-year period. Moreover, nil-filing varies a lot within categories of firms: it is much more likely to take place in certain districts and sectors in Eswatini, and is more common for small and younger firms. At the same time, persistent nil-filing is also very common. We also cross-check CIT data with value added tax (VAT) and Pay As You Earn (PAYE) data to monitor the filing behaviour of nil-filers across different tax returns, finding some extent of misreporting – probably due to evasion. After describing the results, we analyse additional qualitative data and provide recommendations for future research.
    Keywords: Finance, Governance,
    Date: 2019
  125. By: Rosendahl, Knut Einar (School of Economics and Business, Norwegian University of Life Sciences)
    Abstract: With the new rules of the EU ETS, involving cancellation of allowances, cumulative emissions are no longer fixed but depending on the market outcome. Perino (2018) showed that additional abatement effort can reduce cumulative emissions if it occurs within a few years. This article shows that Perino’s result will be reversed, i.e., cumulative emissions increase, if the abatement effort is at a later year, or permanent. Thus, a new green paradox has emerged.
    Keywords: Emissions trading; Green Paradox; EU ETS; MSR
    JEL: H23 Q54 Q58
    Date: 2019–05–02
  126. By: Severino-González, Pedro; Pujol-Cols, Lucas J.; Lazzaro-Salazar, Mariana
    Abstract: Este artículo examina las percepciones de directivos y empleados de un centro público de salud de Chile acerca del grado de presencia de prácticas socialmente responsables en dicha institución, explorando, además, potenciales diferencias entre estas percepciones. Se administró una encuesta estructurada a una muestra no probabilística de 250 individuos. Los resultados revelan que los participantes coinciden en que el Centro posee un comportamiento socialmente responsable, aunque estas percepciones no resultan compartidas de igual modo por los directivos y los empleados.
    Keywords: Responsabilidad Social; Etica; Salud Pública;
    Date: 2019–03–31
  127. By: van der Weide Roy; Vigh Melinda
    Abstract: Productivity and socio-economic progress are inter-connected. Economic growth funds policies that promote socio-economic progress, while the latter serves as a growth engine. A society with high mobility is one where individual achievements are influenced less by the individual’s parents and more by her potential.In an application to 54 state-regions in India (1983-2011), we identify the causal effect of intergenerational mobility on household expenditure’s future growth. We find that intergenerational mobility has a positive effect on growth, particularly among the poor.Furthermore, mobility is found to be positive for human capital accumulation except for individuals with highly educated parents for whom it matters less whether the playing field is level or not.
    Keywords: Growth,Inequality,Intergenerational Mobility,Poverty and inequality
    Date: 2018
  128. By: Hempel, Corinna; Will, Sabine; Zander, Katrin
    Abstract: Der Wandel unserer fossilbasierten Wirtschaftsweise hin zu einer nachhaltigeren biobasierten Ökonomie erfordert eine breite gesellschaftliche Akzeptanz. Grundlegend dafür sind Kenntnisse über die Meinungen, Einstellungen und Zweifel der Bevölkerung. Aufbauend auf einer Q-Studie über die gesellschaftlichen Meinungsbilder bezüglich der Bioökonomie im Allgemeinen, wurden Gruppendiskussionen zu konsumrelevanten Aspekten im Besonderen durchgeführt. Die Teilnehmenden diskutierten im Spannungsfeld von Suffizienzstrategien und der Entwicklung innovativer Technologien. Darauf folgte eine deutschlandweite Onlinebefragung, die Erkenntnisse aus den ersten beiden Erhebungsschritten aufgriff, wodurch Ergebnisse quantifiziert werden konnten. Auf Basis gemeinsamer gesellschaftlicher Perspektiven zur Bioökonomie besteht eine sehr große Heterogenität in Bezug auf die Einschätzung und Umsetzung verschiedener Handlungsoptionen zur Schonung von Umwelt und Ressourcen in der Gesellschaft insgesamt. Viele Menschen fühlen sich schlecht informiert und haben daher Schwierigkeiten, die "richtigen" Entscheidungen zu treffen. Sie wünschen sich Unterstützung seitens der Politik, welcher eine relativ große Verantwortung bei der Weiterentwicklung der Bioökonomie zugesprochen wird. Allerdings ist der Grat zwischen dem Wunsch nach Unterstützung und dem Gefühl der Bevormundung durch den Staat sehr schmal. Die Akzeptanz verschiedener staatlicher Maßnahmen ist ein Feld, das zukünftig noch verstärkt untersucht werden sollte.
    Date: 2019
  129. By: La Croix, Sumner (African Economic History Network)
    Abstract: Fourie and Green construct estimates of the Khoikhoi population over the 1652- 1780 period using benchmarks for the initial and terminal Khoi populations and benchmarks for the punctuated population declines from smallpox epidemics in 1713 and 1755. I review the evidence underlying each of the four population benchmarks and argue for a revised 1780 benchmark. Qualitative evidence also points to a higher rate of population decline between 1652 and 1723 and a smaller rate of decline between 1723 and 1780. Using the Fourie-Green methodology and adopting 3 of their 4 population benchmarks, I develop two revised estimates of the Khoi population to supplement the original Fourie and Green estimates
    Keywords: Demography; Cape colony; Khoi
    JEL: N01 N37 N57
    Date: 2018–09–19
  130. By: Todd Elder; David N. Figlio; Scott A. Imberman; Claudia Persico
    Abstract: We use linked birth and education records for all children born in Florida between 1992 and 2002 to assess the effects of neonatal health on the identification of childhood disabilities. We find that several measures of neonatal health are associated with disability incidence, although birthweight plays the most empirically relevant role. Using large samples of siblings and twins, we find that infant health influences multiple measures of disability and grade repetition in school. The association between birthweight and disability holds throughout the distribution of birthweight and across a range of socioeconomic characteristics, including maternal education and race.
    JEL: I10 I21
    Date: 2019–05
  131. By: Barbano, Leonardo Nicolás
    Abstract: En la actualidad, el plantel de jugadores de fútbol profesional (o mejor dicho, los "derechos de pase" en relación a ellos) constituye, para las instituciones deportivas ligadas a este deporte, el principal rubro de su activo. Sin embargo, algunos clubes que forman jugadores directamente no le asignan valor alguno a este "activo" lo cual puede generar distorsiones en la información que brindan sus Estados Financieros. En esta oportunidad, me centraré en el tratamiento dado por el Club Atlético Independiente a sus jugadores formados en las divisiones inferiores, en particular cuando pasan a ser profesionales. Para ello, analizaré sus estados contables en dos grandes períodos marcados por el 2012-2013, año bisagra en el cual el club realizó un cambio importante en el tratamiento referido. Entonces, el trabajo indaga en los posibles motivos de dicho cambio y maneja como hipótesis particular los problemas económico-financieros que venían aquejando al Club.
    Keywords: Estados Contables; Activos Intangibles; Club Deportivo; Futbol;
    Date: 2019–04–23
  132. By: Adigun, G.T.; Bamiro, O.M.; Oyetoki, A.
    Keywords: Public Economics
    Date: 2017–10
  133. By: Robert Czudaj (Department of Economics, Chemnitz University of Technology)
    Abstract: The dynamics between trading volume and volatility for seven agricultural futures markets are examined by drawing on the large literature for equity markets and by allowing for heterogeneity of investors beliefs proxied by open interest. In addition, time-varying effects on the transmission mechanism of shocks are also accounted for by implementing a Bayesian VAR model, which allows for time-variation stemming from both the coefficients and the variance covariance structure of the model’s disturbances. This is important since it accounts for changes in the number of trades and the size of trades across different periods, which can have different effects on the volatility-volume relation. The results show that the Granger causality and the reaction to shocks varies substantially over time. This highlights the importance to allow for time-variation when modeling the relationship between volatility, trading volume and open interest for agricultural futures markets. In general, the ï¬ ndings indicate that volatility of agricultural futures markets is driven by previous period’s trading volume and open interest. However, the reversed relationship from lagged volatility to trading volume and open interest is limited to certain periods of time.
    Keywords: Agricultural futures markets, open interest, time-varying Bayesian VAR, trading volume, volatility
    JEL: C32 G13 Q14
    Date: 2019–05
  134. By: Pujol-Cols, Lucas J.
    Abstract: This study examined the mediating role of perceived job characteristics in the relationship between core self-evaluations (CSEs) and job satisfaction. Data were collected from two independent samples of highly skilled workers in Argentina (190 scholars and 116 managers). The results from the structural equation modeling analysis revealed that perceived job characteristics partly mediated the relationship between CSEs and job satisfaction in both samples (32% in sample 1 and 65% in sample 2), suggesting that those individuals with higher CSEs tended to perceive their jobs as more resourceful (i.e., more rewarding, secure, and supportive), which increased their levels of job satisfaction. ese findings were consistent with those reported in North-American and European organizational settings, which provided further support to the universality and cross-cultural generalizability of the CSE construct.
    Keywords: Satisfacción Laboral; Personalidad;
    Date: 2019
  135. By: Astete Benites, Víctor; Tuanama Tuanama, Nancy; Capcha Carhuapoma, Newton; Gamio Quiroz, Jason
    Abstract: En el 2016 y 2017, Perú se consolidó como segundo productor de cobre en Latinoamérica y en el mundo. La presente investigación tiene como objetivo cuantificar el impacto que tendría en la economía peruana la puesta en marcha de los 26 principales proyectos mineros de cobre que forman parte de la cartera estimada de inversión minera del Ministerio de Energía y Minas. Es importante mencionar que el monto total de inversión para los 26 proyectos suma US$ 44,229 millones. El impacto de la ejecución de dichos proyectos se cuantifica con los siguientes indicadores: monto estimado de producción de cobre, impuestos (impuesto a la renta y canon minero, impuesto especial a la minería y regalías mineras), exportaciones y generación de empleo.
    Keywords: Labor Productivity; Safety; Mining, Extraction, and Refining; Other Nonrenewable Resources; Business Administration
    JEL: J24 J28 L72 M1
    Date: 2018
  136. By: Foster-McGregor, Neil (UNU-MERIT); Nomaler, Önder (UNU-MERIT); Verspagen, Bart (UNU-MERIT)
    Abstract: Recent studies report that technological developments in machine learning and artificial intelligence present a significant risk to jobs in advanced countries. We re-estimate automation risk at the job level, finding sectoral employment structure to be key in determining automation risk at the country level. At the country level, we find a negative relationship between automation risk and labour productivity. We then analyse the role of trade as a factor leading to structural changes and consider the effect of trade on aggregate automation risk by comparing automation risk between a hypothetical autarky and the actual situation. Results indicate that trade increases automation risk in Europe, although moderately so. European countries with high labour productivity see automation risk increase due to trade, with trade between European and non-European nations driving these results. This implies that the high productivity countries do not, on the balance, offshore automation risk, but rather import it.
    Keywords: Automation risk for employment, Industry 4.0, Globalisation, Global Value Chains
    JEL: F16 O33 J24
    Date: 2019–04–08
  137. By: Chipten Valibhay (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Pascal Le Masson (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Benoit Weil (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique)
    Abstract: While patents are recognized as a key resource to sustain innovation activities, patenting activities are mainly conceptualized as protective means quite unrelated to innovation issues. By conducting an exploratory case study of French IP advisor, this paper identifies four unusual patent practices oriented towards a strategic management of the inventive capacity of a firm. These practices offer the opportunity to introduce a new capability of a firm, the 'distinctive capacity', which describes the ability of a firm to manage and organize the relationship between its inventions and the prior art articulated and structured based on strategical considerations (competitive environment, legal risks, technological choices). Building upon 'dynamic capabilities', we claim that the 'distinctive capacity' of a firm allows to better characterize the features of a specific knowledge management adapted to increasing a firm's inventive capacity.
    Date: 2019–06–10
  138. By: Joseph P. Hughes (Rutgers University); Julapa Jagtiani (Federal Reserve Bank of Philadelphia); Loretta J. Mester (Federal Reserve Bank of Cleveland); Choon-Geol Moon (Hanyang University)
    Abstract: We consider how size matters for banks in three size groups: small community banks with assets less than $1 billion, large community banks with assets between $1 billion and $10 billion, and midsize banks with assets between $10 billion and $50 billion. To illustrate the differences between these banks and larger banks whose business models are distinctly different, we examine large banks with assets between $50 billion and $250 billion and the largest banks with assets exceeding $250 billion. Community banks have potential advantages in relationship lending compared with large banks. However, increases in regulatory compliance and technological burdens may have disproportionately increased community banks’ costs, raising concerns about small businesses’ access to credit. Our evidence suggests several patterns: (1) while small community banks exhibit relatively more valuable investment opportunities, larger community banks, midsize banks, and larger banks exploit theirs more efficiently and achieve better financial performance; (2) average operating costs that include costs related to regulatory compliance and technology decrease with size; (3) unlike small community banks, large community banks have financial incentives to increase lending to small businesses; and (4) for business lending and commercial real estate lending, compared with small community banks, large community banks, midsize banks, and larger banks assume higher inherent credit risk and exhibit more efficient lending. Thus, concern that small business lending would be adversely affected if small community banks find it beneficial to increase their scale is not supported by our results.
    Keywords: community banking, scale, financial performance, small business lending
    JEL: G21 L25
    Date: 2019–05–14
  139. By: Mary Kay Fox; Elizabeth Gearan
    Abstract: This report presents findings from the School Nutrition and Meal Cost Study, the first comprehensive, nationally representative study of the school meal programs since program reforms were implemented in School Year 2012-2013.
    Keywords: nutrition, meal cost, school lunch program
    JEL: I0 I1
  140. By: Bhambhwani, Siddharth; Delikouras, Stefanos; Korniotis, George
    Abstract: We test the theoretical prediction that blockchain trustworthiness and transaction benefits determine cryptocurrency prices. Measuring these fundamentals with computing power and adoption levels, we find a significant long-run relationship between them and the prices of five prominent cryptocurrencies. Conducting factor analysis, we find that the returns of the five cryptocurrencies are exposed to aggregate fundamental-based factors related to computing power and adoption levels, even after accounting for Bitcoin returns and cryptocurrency momentum. These factors have positive risk premia and Sharpe ratios comparable to those of the U.S. equity market. They further explain return variation in an out-of-sample set of cryptocurrencies.
    Keywords: Asset Pricing Factors; Bitcoin; cointegration; Computing Power; Dash; ethereum; Hashrate; Litecoin; Monero; network
    JEL: E4 G12 G14
    Date: 2019–05
  141. By: van Vijfeijken, Inge (Tilburg University, School of Economics and Management); Gubbels, Nicole (Tilburg University, School of Economics and Management)
    Abstract: Overzicht van de ontwikkelingen op het terrein van de Successiewet over de laatste 50 jaar.
    Date: 2018
  142. By: Chami, Maximilian; Kaminyoge, Gabriel
    Abstract: This paper examines the impact of the closed House of Wonders Museum in the tourism industry of Stone Town, Zanzibar. The paper aims to propose the best practices taken into account due to the impact raised by the closure of the Museum. There has been no clear information on the overall situation which faces the site since 2012 when the Museum closed. Data collected through mixed methods, including the sample size of 105 tourists who visited the House of Wonders Museum, 8 Government Official, 6 Tour Guides and 8 Tour Operators. The findings show that the closed museum has affected the level of tourists’ satisfaction, tour operators, community and tour guides economically. The paper recommends quick rehabilitation and reconstruction of the Museum to save the integrity and authenticity of this World Heritage Site.
    Keywords: House of Wonders; Tourism; Zanzibar Stone Town; Museum, Heritage
    JEL: G14 L83 M31 Z0
    Date: 2019–04–15
  143. By: Ha-Huy, Thai; Nguyen, Thi Tuyet Mai
    Abstract: This article studies an inter-temporal optimization problem using a criterion which is a combination between Ramsey and Rawls criteria. A detailed description of the saving behaviour through time is provided. The optimization problem under $\alpha-$\emph{maximin} criterion is also considered with optimal solution characterized.
    Keywords: maximin principle, $\alpha-$ maximin, Ralws criterion, Ramsey criterion, $\epsilon-$contamination
    JEL: C60 C61 D11 D90
    Date: 2019–06–06
  144. By: Robert J. Barro
    Abstract: The national income and product accounts double-count investment, which enters once when it occurs and again in present value when the cumulated capital leads to more rental income. From the perspective of resources available intertemporally for consumption, the double-counting issue implies over-statement of levels of GDP and national income. There is also exaggeration of capital-income shares. A proposed alternative measure of product and income involves a form of full expensing for gross investment. In the steady state, revised product and income correspond to consumption. Outside of the steady state, the measure deviates from consumption because full expensing relates to the long-run flow of gross investment, not the current flow. At a practical level, the new concept requires only an extension from the standard depreciation rate to an effective rate that adds in the economy’s expected long-run rate of economic growth.
    JEL: E01 E22
    Date: 2019–05
  145. By: Martin Hellwig (Max Planck Institute for Research on Collective Goods)
    Abstract: Die deutsche Diskussion über die Europäische Währungsunion steckt in einer Empörungsfalle. Rechtsnormen und Zahlen werden ungenau und missverständlich wiedergegeben, Kausalzusammenhänge werden nicht belegt. Der Begriff des „Target-Kredits“ vermengt volkswirtschaftliche und einzelwirtschaftliche Vorstellungen auf unzulässige Weise und ist analytisch unbrauchbar. Dass die Deutsche Bundesbank in ihrem operativen Geschäft nicht selbständig agiert, wird verdrängt. Eine inhaltliche Auseinandersetzung mit den Aufgaben der Zentralbank fehlt weitgehend. Die Besonderheiten eines deckungslosen Papiergelds werden nicht angemessen berücksichtigt. Die in wiederholten Verlustwarnungen enthaltene Priorisierung fiskalischer Belange ist sachlich verfehlt und ordnungspolitisch gefährlich.
    Keywords: Papiergeld, Vermögenseffekte, Geldpolitik, Friedman-Schwartz-Paradox, Lender of the Last Resort, Europäische Währungsunion, Target-Salden, Finanzkrise, Eurokrise, Vollzuteilung, Notkredite, ANFA, Quantitative Easing.
    JEL: E44 E52 E58
    Date: 2019–03
  146. By: Vellekoop, Nathanael; Wiederholt, Mirko
    Abstract: Do household in ation expectations affect consumption-savings decisions? We link survey data on quantitative in ation expectations to administrative data on income and wealth. We document that households with higher in ation expectations save less. Estimating panel data models with year and household fixed effects, we find that a one percentage point increase in a household's in ation expectation over time is associated with a 250-400 euro reduction in the household's change in net worth per year on average. We also document that households with higher in ation expectations are more likely to acquire a car and acquire higher-value cars. In addition, we provide a quantitative model of household-level in ation expectations.
    Date: 2019
  147. By: Richter, Sandra; Schöne, Lars Bernhard
    Abstract: Dieses Arbeitspapier beschäftigt sich mit Immobilien-Benchmarking. Zentrales Ziel der Schrift ist es, einen Einblick in die bisherige Etablierung des Benchmarkings in den Managementebenen der Immobilienwirtschaft zu gewinnen und die Eigenschaft der Heterogenität der Immobilien im Benchmarking hervorzuheben. Dabei wird das Portfoliomanagement, das Asset Management, das Property Management sowie das Facility Management in Bezug auf die Potenzialhebung betrachtet. Weiterhin wird auch einen Einblick in die Regressionsanalyse gegeben. Um den Faktor der Heterogenität zu berücksichtigen, gilt es entsprechende Cluster abzuleiten. Beispielhaft wird eine Clusteranalyse plakativ an einem reduzierten Modell dargestellt. Im Fazit wird zusammenfassend auf die bisherige Etablierung des Benchmarkings in der Immobilienwirtschaft eingegangen sowie auf weitere Forschungsansätze hingewiesen.
    Date: 2019
  148. By: Eric Zeidman; Nicholas Beyler; Elizabeth Gearan; Nikkilyn Morrison; Katherine Niland; Liana Washburn; Barbara Carlson; David Judkins; Lindsey LeClair; Michele Mendelson; Tara Wommack; Justin Carnagey; Maureen Murphy; Andre Williamson
    Abstract: This methodology report describes the design of the SNMCS, as well as sampling, recruitment, data collection, and data processing procedures.
    Keywords: nutrition, meal cost, school lunch program
    JEL: I0 I1
  149. By: Jørgen-Vitting Andersen (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Philippe de Peretti (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)
    Abstract: We introduce a new methodology that enables the detection of onset of convergence towards Nash equilibria, in simple repeated-games with infinite large strategy spaces. The method works by constraining on a special and finite subset of strategies. We illustrate how the method can predict (in special time periods) with a high success rate the action of participants in a series of experiments.
    Keywords: multi-period games,infinite strategy space,decoupling,bounded rationality,agent-based modeling
    Date: 2018–07
  150. By: Simon, Katalin; Hansson, Helena
    Abstract: Agricultural and forestry land markets are regulated in several European countries. However, assessing the economic consequences of land market regulation for agricultural and forestry firms is methodologically challenging for various reasons. The aim of this study is to highlight the usefulness of exploring expert stakeholders’ mental models in order to gain insights into the economic impacts of agricultural and forestry land market regulation. We use thematic analysis based on in-depth interview data to explore Swedish expert stakeholders’ mental models about the regulation of the Swedish agricultural and forestry land market. Findings point to that the current regulation does not have any major impacts on the economic situation of agricultural and forestry firms in Sweden.
    Keywords: Land Economics/Use
    Date: 2019–02–28
  151. By: Nobuyuki Hanaki (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS - Centre National de la Recherche Scientifique - UNS - Université Nice Sophia Antipolis - UCA - Université Côte d'Azur); Emily Tanimura (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Nicolaas Vriend (QMUL - School of Economics and Finance - QMUL - Queen Mary University of London)
    Abstract: We study a linear location model (Hotelling, 1929) in which n (with n ≥ 2) boundedly rational players follow (noisy) myopic best-reply behavior. We show through numerical and mathematical analysis that such players spend almost all the time clustered together near the center, re-establishing Hotelling's " Principle of Minimum Differentiation " that had been discredited by equilibrium analyses. Thus, our analysis of the best-response dynamics shows that when considering e.g. market dynamics as well as their policy and welfare implications, it may be important to look beyond equilibrium analyses
    Keywords: Stochastic stability,Best-response dynamics,Nash equilibrium,Invariant measures,Hotelling location model,Principle of Minimum Differentiation
    Date: 2018
  152. By: Rainald Borck (University of Potsdam, CESifo, DIW Berlin); Philipp Schrauth (University of Potsdam)
    Abstract: We use panel data from Germany to analyze the effect of population density on urban air pollution (nitrogen oxides, particulate matter and ozone). To address unobserved heterogeneity and omitted variables, we present long difference/fixed effects estimates and instrumental variables estimates, using historical population and soil quality as instruments. Our preferred estimates imply that a one-standard deviation increase in population density increases air pollution by 3-12%.
    Keywords: population density, air pollution
    JEL: Q53 R12
    Date: 2019–05
  153. By: Hauber, Philipp; Schumacher, Christian; Zhang, Jiachun
    Abstract: We provide a simulation smoother to a exible state-space model with lagged states and lagged dependent variables. Qian (2014) has introduced this state-space model and proposes a fast Kalman filter with time-varying state dimension in the presence of missing observations in the data. In this paper, we derive the corresponding Kalman smoother moments and propose an efficient simulation smoother, which relies on mean corrections for unconditional vectors. When applied to a factor model, the proposed simulation smoother for the states is efficient compared to other state-space models without lagged states and/or lagged dependent variables in terms of computing time.
    Keywords: state-space model,missing observations,Kalman filter and smoother,simulation smoothing,factor model
    JEL: C11 C32 C38 C63
    Date: 2019
  154. By: Ukoha, I.I.; Ibeagwa, O.B.; Uhuegbulam, I.J.; Ejike, O.U.; Oshaji, I.O.; Osuji, E.E.; Chikezi, C.
    Keywords: Agricultural Finance
    Date: 2017–10
  155. By: Andrea Wysocki; Valerie Cheh
    Abstract: This study examined the characteristics of community-admitted Medicare home health care patients to better understand the underlying reasons for their increased numbers and found many important differences between patients based on both their source of admission and length of their home health use.
    Keywords: Medicare, Home health, Long-term services and supports
    JEL: I
  156. By: Magloire Nya Tchatchoua; Isabelle Pignatel; Hubert Tchakoute Tchuigoua
    Abstract: What are the characteristics of microfinance institutions (MFIs) that choose to draft their financial statements according to international accounting standards? That is the question this article investigates. We study a pooled sample of 5,290 audited financial statements from 2007 to 2015 and find consistent evidence that the institutional framework, for-profit status, and maturity, are likely to drive the MFIs choice to comply with international financial reporting standards. Results are robust after controlling for whether MFIs operate in a country where IFRS are permitted or required.
    Keywords: IFRS; Microfinance; Audit
    JEL: G21 G34 L31 M42
    Date: 2019–05–10
  157. By: Farnia, Luca
    Abstract: High dimensional composite index makes experts’ preferences in set-ting weights a hard task. In the literature, one of the approaches to derive weights from a data set is Principal Component or Factor Analysis that, although conceptually different, they are similar in results when FA is based on Spectral Value Decomposition and rotation is not performed. This works motivates theoretical reasons to derive the weights of the elementary indicators in a composite index when multiple components are retained in the analysis. By Monte Carlo simulation it offers, moreover, the best strategy to identify the number of components to retain.
    Keywords: Research Methods/ Statistical Methods
    Date: 2019–05–15
  158. By: Ötsch, Walter; Pühringer, Stephan
    Abstract: In diesem Beitrag diskutieren wir den Begriff des Marktfundamentalismus, der für uns Ludwik Fleck folgend auf dem einigenden Kollektivgedanken "des Marktes" im frühen "neoliberalen Denkkollektivs" nach Mirowski und Plehwe beruht. Unsere These ist, dass in jenem Denkkollektiv der Kollektivgedanke "des Marktes" enthalten ist, wir zeigen dies anhand grundlegender Werke von Ludwig von Mises, dem Begründer des Marktfundamentalismus, sowie führender Denker des Ordoliberalismus. In diesem Beitrag wollen wir (1) auf konzeptioneller Ebene zeigen, auf welche Weise das Konzept "des Marktes" als eine "Tiefenstruktur" im Denken unterschiedlicher ökonomischer TheoretikerInnen verstanden werden kann, und (2) andeuten, welchen Einfluss diese konzeptionelle Grundlage des ökonomischen Denkens auf konkrete Vorstellungen zur Organisation von politischen und gesellschaftlichen Prozessen hat.
    Keywords: Neoliberales Gedankenkollektiv,Ordoliberalismus,Marktfundamentalismus
    JEL: B13 B25 B53 Z13
    Date: 2018
  159. By: Mikhail Drugov (New Economic School and CEPR); Dmitry Ryvkin (Department of Economics, Florida State University)
    Abstract: Tournaments are settings where agents' performance is determined jointly by effort and luck, and top performers are rewarded. We study the impact of the \shape of luck" { the details of the distribution of performance shocks { on incentives in tournaments. The focus is on the effect of competition, defined as the number of rivals an agent faces, which can be deterministic or stochastic. We show that individual and aggregate effort in tournaments are affected by an increase in competition in ways that depend critically on the shape of the density and failure (hazard) rate of shocks. When shocks have heavy tails, aggregate effort can decrease with stronger competition.
    Keywords: tournament, competition, heavy tails, stochastic number of players, unimodality, log-supermodularity, failure rate
    JEL: C72 D72 D82
    Date: 2019–01
  160. By: Carletti, Elena; De Marco, Filippo; Ioannidou, Vasso; Sette, Enrico
    Abstract: We study how a greater reliance on deposits affects bank lending policies. For identification, we exploit a tax reform in Italy that induced households to substitute bank bonds with deposits. We show that the reform led to larger increases (decreases) in term deposits (bonds) in areas where households held more bonds before the reform. We then find that banks with larger increases in deposits did not change their overall credit supply, but increased credit-lines and the maturity of term-loans. These results are consistent with key theories on the role of deposits as a discipline device and of banks as liquidity providers.
    Keywords: banks; deposits; government guarantee; Maturity; risk-taking
    JEL: G01 G21 G28
    Date: 2019–05
  161. By: Wiborg, Vegard Sjurseike (Dept. of Economics, University of Oslo); Brekke, Kjell Arne (Dept. of Economics, University of Oslo); Nyborg, Karine (Dept. of Economics, University of Oslo)
    Abstract: If individual abilities are imperfectly observable, statistical discrimination may affect hiring decisions. In our lab experiment, pairs of subjects solve simple mathematical problems. Subjects then hire others to perform similar tasks. Before choosing whom to hire, they receive information about the past scores of pairs, not of individuals. We vary the observability of individuals’ abilities by ordering pair members either according to performance, or alphabetically by nickname. We find no evidence of gender discrimination in either treatment, however, possibly indicating that gender stereotypes are of limited importance in the context of our study.
    Keywords: Discrimination; Collaboration; Alphabetic; Gender
    JEL: A13 C91 D83 J71
    Date: 2019–05–03
  162. By: Fuchs, Michaela (Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]); Rossen, Anja (Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]); Weyh, Antje (Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]); Wydra-Somaggio, Gabriele (Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany])
    Abstract: "This paper provides first-time evidence on the magnitude and determinants of regional differences in the gender pay gap (GPG) in Germany. Using a comprehensive data set of all full-time employees, we conduct Oaxaca-Blinder decompositions for Germany and its regions to explain the regional variation of the GPG with theory-based individual, job-related and regional characteristics. Our results provide several novel insights into the regional dimension of the GPG. First, men's wages are more strongly correlated with the regional GPG than those of women, indicating that their wages drive the regional variation in the GPG much more than the wages of women. Second, the decomposition results reveal pronounced differences in the impact of the individual and job-related characteristics between the regions. Whereas job-related characteristics are important in regions with a high GPG, individual characteristics rather come into play in regions with a low or negative GPG. The results underscore the role played by the establishment composition in a region and the kind of jobs provided for the regional GPG. Women earn more than men in regions with a weak local economic structure and the absence of large firms providing well-paid manufacturing jobs. In regions with a high GPG, in contrast, men usually benefit from such jobs. The third result relates to the validity of the theoretical determinants of the GPG in regional respect. In contrast to the clear-cut decomposition results at the national level, at the regional level their validity mainly applies to specific subsets of regions. We conclude that analyses at the national level come too short in precisely explaining the regional variation of the GPG." (Author's abstract, IAB-Doku) ((en))
    Keywords: Lohnunterschied, erwerbstätige Frauen, erwerbstätige Männer, Vollzeitarbeit, sozialversicherungspflichtige Arbeitnehmer, regionale Disparität, regionaler Vergleich, Landkreis, Wirtschaftsstruktur, geschlechtsspezifische Faktoren
    JEL: J31 R23 J16
    Date: 2019–04–24
  163. By: Claire Le Pors (ATIH - Agence Technique de l'Information sur l'Hospitalisation - ATIH); Carole Lê-Leplat (ATIH - Agence Technique de l'Information sur l'Hospitalisation - ATIH); Isabelle Hirtzlin (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)
    Date: 2018–03
  164. By: Duara Prasenjit
    Abstract: This paper identifies historic patterns in the dialectic between nationalism and development across various East, South, and Southeast Asian nations. Nationalism as the rationale for development is used by regimes to achieve high levels of growth, but also generates exclusivism and hostilities, often in order to integrate a political core.Popular nationalism has also dialectically reshaped the goals and patterns of development during the post-Second World War period. The region is divided into zones shaped by twentieth-century historical and geo-political conditions.Colonial and Cold War conditions were as important as internal political and ethnic circumstances. Turning points in the dialectical relationship were common within a region. More recently, a common transregional pattern has emerged with neoliberal globalization being accompanied by exclusivist nationalism.
    Keywords: Colonialism,Nationalism,War
    Date: 2018
  165. By: Adekunle, C.P.; Ashaolu, O.F.; Sanusi, R.A.; Akerele, D.; Oyekale, T.O.; Ogunrinde, F.
    Keywords: Health Economics and Policy, Production Economics
    Date: 2017–10
  166. By: Adrian Nicolae Capatana (Academy of Economic Studies)
    Abstract: This paper aims to evaluate the risk for of a stock portfolio using Value-at-Risk, being of interest to both financial institutions and potential individual investors. Using the portfolio's daily returns over a two-year period, the volatility will be estimated with various specifications of GARCH (GARCH, IGARCH, EGARCH, TGARCH), and normal, tstudent and GED errors distributions. Then we will identify the optimal volatility estimation model required in the VaR calculation using the backtesting method.
    Keywords: Value at Risk, volatility, GARCH, Backtesting, portfolio, stock market
    JEL: G11 C52 C53
    Date: 2017–11
  167. By: Lossau, Tobias; Focke, Christian
    Abstract: Dieses Arbeitspapier liefert eine vergleichende Bestandsaufnahme des REIT-Marktes in Europa. Für ausgewählte Länder (Deutschland, Großbritannien, Frankreich, Belgien und Niederlande) wird analysiert, wie die wesentlichen rechtlichen Regelungen bezüglich REITs in dem Land aussehen, wobei Gemeinsamkeiten und Unterschiede der nationalen Regelungen deutlich werden. Dabei wird auch dargestellt, wie sich der REIT-Markt des jeweiligen Landes unter den dort gegebenen Voraussetzungen entwickelt hat. Dieser Teil der Analyse liefert sowohl Informationen zu den wichtigsten REIT-Gesellschaften wie auch zur gesamten Marktkapitalisierung des REIT-Segments in dem Land. Das Arbeitspapier schließt mit dem Fazit, dass sich die Ausgestaltung des REIT-Regimes auf die Entwicklung dieses Kapitalmarktsegments in den jeweiligen Ländern erkennbar ausgewirkt hat.
    Date: 2019
  168. By: Stöhr, Annika; Budzinski, Oliver
    Abstract: Die sogenannte Ministererlaubnis als Teil der deutschen Fusionskontrolle repräsentiert wahrscheinlich das umstrittenste Instrument sowohl in der juristischen als auch in der ökonomischen Fachdiskussion. Vereinfachend ausgedrückt ermöglicht die Ministererlaubnis dem Bundeswirtschaftsminister, ein Zusammenschlussverbot des Bundeskartellamtes aufgrund von erwarteten positiven Gemeinwohleffekten aufzuheben. Zu den Kritikpunkten zählt dabei, dass die tatsächlichen Erlaubnisentscheidungen weniger durch Gemeinwohlerwägungen zu begründen seien als vielmehr durch politökonomische Interessen bzw. erfolgreiche Lobbyaktivitäten. Zwar können wir im vorliegenden Beitrag nicht die tatsächlichen Motivationen der Erlaubnisentscheidungen nachweisen, aber wir können mit Hilfe von Ex-Post-Analysen zeigen, dass sich nur in einem geringen Teil der Erlaubnisfälle die Gründe, welche zur Erlaubnis führten, ex-post empirisch bestätigt haben und auch auf die Fusion zurückzuführen sind. Damit kann die Ministererlaubnis in ihrer gegenwärtigen Form nicht als effektives Instrument einer gemeinwohlorientierten Korrektur von Fusionskontrollentscheidungen eingestuft werden.
    Keywords: Ministererlaubnis,Wettbewerbspolitik,Zusammenschlusskontrolle,Mergers & Acquisitions,Wettbewerbsökonomik,Antitrust,Ex-Post-Analysen,Recht & Ökonomik,Fusionskontrolle,Wettbewerbsordnung,Wirtschaftspolitik
    JEL: L40 K21 B52 L51
    Date: 2019
  169. By: Chen, Lipeng (School of Economics, Fudan University); Jiang, Liang (Fanhai International School of Finance and School of Economics, Fudan University); Phang, Sock Yong (School of Economics, Singapore Management University); Yu, Jun (School of Economics and Lee Kong Chian School of Business, Singapore Management University)
    Abstract: We utilize data from the Singapore Life Panel© survey to empirically investigate the impact of housing equity on consumption of elderly households. Based on panel analysis, we find housing equity value has no significant impact on non-durable consumption for elderly people. The conclusion holds for a battery of robustness check. Moreover, heterogeneity analyses based on subsamples by age of household head, house type, and number of property possessed also show no significant impact of housing equity on consumption in general. Finally, we use scenario analysis to study the Lease Buyback Scheme (LBS), a novel housing equity monetization scheme which allows elderly households to unlock housing equity for retirement financing. We find LBS increases non-durable consumption by about only 0.69%, which may explain the low take-up rate for the LBS.
    Keywords: Housing wealth; elderly households; monetization; Singapore
    Date: 2019–05–08
  170. By: Tamm, Marcus; Görlitz, Katja
    Abstract: Wer in der Klasse zu den Jüngeren gehört, schneidet anfangs oft schlechter ab, kann die Nachteile aber später weitgehend ausgleichen. - Wenn ein Kind im Sommer geboren wurde, gehört es häufig zu den Jüngsten in der Klasse. Viele Eltern fragen sich deshalb: Hängen die Älteren mein Kind ab? Im Durchschnitt schneiden jüngere Kinder tatsächlich schlechter in Mathematik und Deutsch ab als ihre Klassen- kameraden - jedenfalls in der Schulzeit. Die Leistungsunterschiede fallen jedoch geringer aus, je älter die Kinder werden. Eine neue RWI-Studie zeigt, dass die Unterschiede in Mathematik und Textverständnis im späteren Leben sogar ganz verschwinden. Im Durchschnitt bleibt der Wortschatz zwar langfristig kleiner und die Abiturwahrscheinlichkeit ist geringer. Dennoch studieren Jüngere genauso häufig wie ihre älteren Mitschülerinnen und Mitschüler.
    Date: 2019
  171. By: Fels, Markus
    Abstract: Some consumption opportunities are both indivisible and only valuable in particular tates of nature. The existence of such state-dependent indivisible consumption opportunities influences a person's risk attitudes. In general, people are not risk averse anymore even if utility from divisible consumption is concave. I propose a definition of insurance in the context of state-dependent preferences and investigate the different motives underlying insurance demand. The same reasons that rule out risk aversion turn out to be the basis of a desire to insure. This calls into question the standard approach that bases insurance demand on risk aversion with important implications for policy and research.
    Keywords: risk preferences,indivisible consumption,insurance,gambling
    JEL: D01 D81
    Date: 2019
  172. By: Khoo, Shi Shean
    Abstract: A firm’s market capitalization can be influenced by internal or external factors. This may be caused by and linked to corporate governance failures and the changes of macroeconomic factors. This paper attempted to investigate the internal determinants (corporate governance index, return on assets, return on equity, Altman Z) and external determinants (gross domestic product, unemployment rates and exchange rate) of Tobin’s Q and how they influence Tobin’s Q of Honda Motor Company, Limited from 2013 to 2017. The importance of corporate governance will also be delivered indirectly in this study. Ordinary Least Square analysis (OLS) was used to study the significance of independent variables towards Tobin’s Q. The findings showed that Altman Z (internal determinant) was positively significant to the Tobin’s Q ratio and influenced Tobin’s Q the most. This study also suggested the firm to focus on its corporate governance principle, which is transparency to avoid bankruptcy.
    Keywords: Tobin’s Q, market capitalization, Altman Z, corporate governance
    JEL: B22 G3 G34 O1 O16
    Date: 2019–05–12
  173. By: Aspiazu, Eliana
    Abstract: En un contexto donde la creciente participación laboral y sindical de las mujeres coexiste con múltiples situaciones de inequidad y discriminación, este artículo busca identificar el grado de reconocimiento y comprensión por parte de la dirigencia sindical argentina sobre las desigualdades de género, analizando aspectos culturales y subjetivos de la problemática. Para ello, se utiliza la metodología cualitativa de estudio de casos en dos sindicatos de la salud, por ser una de las actividades más feminizadas donde la proporción de mujeres no se ve reflejada ni en la representación sindical ni en las políticas gremiales.
    Keywords: Igualdad de Oportunidades; Brecha de Género; Mujeres; Sindicalismo; Salud;
    Date: 2019
  174. By: Piet, Laurent; Melot, Romain; Diop, Soukeyna
    Abstract: We investigate factors which may drive the number of agents who compete for a specific piece of agricultural land by fitting count data models on data originating from a local committee, the CDOA, which is responsible for agricultural guidance of the prefect in delivering the necessary ‘authorizations to farm’. We notably find that the size of the offered land positively contributes to the competitor number, and that new entrants face less competition. The seemingly counterintuitive result that a locally denser farmer population yields fewer competitors is given a line of potential explanation pertaining to the likely role of farmer unions.
    Keywords: Land Economics/Use
    Date: 2019–04–16
  175. By: Frondel, Manuel
    Abstract: Eine aktuelle RWI-Studie zeigt: finanzielle Anreize erhöhen die Zustimmung zu Stromtrassen nicht unbedingt, sie können sogar kontraproduktiv wirken. - Um die Energiewende zu schaffen, muss Windstrom vom Norden in den Rest des Landes transportiert werden. Die Mehrheit der Deutschen hat zwar prinzipiell nichts gegen den dafür notwendigen Netzausbau. Sobald die Stromtrasse aber vor der eigenen Haustür verlegt werden soll, regt sich vielerorts Protest. RWI-Forscher haben jetzt herausgefunden: Geldzahlungen an die angrenzenden Kommunen ändern nichts an den Zustimmungsraten zu Stromtrassen. Bekämen die Bürger selbst 100 bis 250 Euro pro Jahr vom Staat angeboten, kann das sogar negative Auswirkungen auf ihre Zustimmung zu Stromtrassen vor der eigenen Haustür haben.
    Date: 2018
  176. By: Ogundele, O. O.; Akujobi, Cajetan
    Abstract: Nigerian economy is suffering from recession which may have resulted from the long overreliance on mono-product ( crude oil) exploitation. There is the general view that diversifying into non-oil sector will save Nigeria from the present economic downturn. Believing that diversification into agriculture will bring a solution to the present situation. This paper aimed at identifying the agricultural product(s) that has (have) more and short-run potential of delivering the country from the recession. The analysis is descriptive using secondary data from the Central bank of Nigeria and National Bureau of Statistics for the period 2010-20 ~ 6. Findings showed that fast and high yielding crops such as maize, sesame seeds, and soybean and fish production can go ·a long way in rescuing the situation. More investments into these commodities are therefore, recommended.
    Keywords: Agricultural and Food Policy, Public Economics
    Date: 2017–10
  177. By: Maliranta, Mika; Nurmi, Satu
    Abstract: Abstract We examine the growth of real value added, labour input and labour productivity of immigrant-owned firms in Finland in 2007–2016. In our analysis we use the so-called FLOWN (Finnish Longitudinal OWNer-Employer-Employee) data by Statistics Finland that allows linking register information on firms, their owners and employees. As immigrant-owned firms account for a few percent of all firms and about one percent of all labour in the business sector, their contribution to the growth of output and employment must be limited. However, the growth rate of their real value added is markedly stronger than in other firm groups. Their job creation rates are exceptionally high but their job destruction rates are, however, about the same magnitude as in the indigenous-owned firms. The immigrant-owned firms have created a relatively large amount of low productivity and low wage jobs. On an average, their wage growth has been somewhat higher than in other firms, but pro-cyclical variation of wages has been stronger.
    Keywords: Immigrants, Output growth, Employment growth, Productivity growth, Creative destruction
    JEL: J15 J21 J24 E24
    Date: 2019–05–14
  178. By: Jael, Paul
    Abstract: The equality between factor pay and marginal product is a major component of the neoclassical paradigm. The article begins with a brief historical review of this principle. Follows a questioning about the relevance of this law as an argument in the social debates: does marginal product represent the very contribution of the agent and if so, is it a legitimate reference for the setting of remuneration? Our answer to the first part of the question is irresolute; to the second, it is negative. But most of the article is devoted to analysing the economic realism of the said law, both empirically and theoretically. We review some statistical studies present in the literature, with particular attention for the debate regarding the regressions of Cobb and Douglas. Evidence does not strengthen the neoclassical law of retribution. The article analyses the factors that hinder either the determination of marginal product or the equalisation between it and factor's remuneration. Are analysed: - the restrictions inherent in the law of marginal productivity: constant returns to scale and perfect competition - an alternative explanation of interest: the Austrian theory - incentive wage theories: efficiency wage and tournament theory. The article then considers the particular case of the CEO's remuneration.
    Keywords: productivité marginale; répartition; salaire; intérêt; profit; fonction de production
    JEL: B21 D24 D33
    Date: 2019–01
  179. By: Akpan, Umoren Aniefiok; Okon, Effiong Etim; Brownson, Akpan Sunday
    Abstract: Instability in interest rate policy created interest rate volatility. The study investigated the relationship between the value of guaranteed loans and interest rate policy on the growth of Agricultural Credit Guarantee Scheme activities in Nigeria. Time series data collected from the staiistical bulletin of Central Bank of Nigeria were used for the analysis. Multiple regression models were used in estimating the effects of interest rate policy on the value of loans/advances accessed by agro-entrepreneurs under ACGS over the years. The results showed that value of loans/advances accessed by the loan beneficiaries under ACGS was inversely related to interest rate policy and directly influenced by outreach, loan repayment and liquidity over the years. It is recommended that incentive be created in form of increased rate for interest drawback scheme. This would assist to rebate high lending rates by the banking system
    Keywords: Agribusiness
    Date: 2017–10
  180. By: Ran Abramitzky; Leah Platt Boustan; Katherine Eriksson; James J. Feigenbaum; Santiago Pérez
    Abstract: The recent digitization of complete count census data is an extraordinary opportunity for social scientists to create large longitudinal datasets by linking individuals from one census to another or from other sources to the census. We evaluate different automated methods for record linkage, performing a series of comparisons across methods and against hand linking. We have three main findings that lead us to conclude that automated methods perform well. First, a number of automated methods generate very low (less than 5%) false positive rates. The automated methods trace out a frontier illustrating the tradeoff between the false positive rate and the (true) match rate. Relative to more conservative automated algorithms, humans tend to link more observations but at a cost of higher rates of false positives. Second, when human linkers and algorithms have the same amount of information, there is relatively little disagreement between them. Third, across a number of plausible analyses, coefficient estimates and parameters of interest are very similar when using linked samples based on each of the different automated methods. We provide code and Stata commands to implement the various automated methods.
    JEL: C81 N0
    Date: 2019–05
  181. By: Marc Fleurbaey (Woodrow Wilson School and Center for Human Values - Princeton University); Stéphane Zuber (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics)
    Abstract: Utilitarianism is a prominent approach to social justice that has played a central role in economic theory. A key issue for utilitarianism is to define how utilities should be measured and compared. This paper draws on Harsanyi's approach (Harsanyi, 1955) to derive utilities from choices in risky situations. We introduce a new normalization of utilities that ensures that: 1) a transfer from a rich to a poor is welfare enhancing, and 2) populations with more risk averse people have lower welfare. We propose normative principles that reflect these fairness requirements and characterize fair utilitarianism. We also study some implications of fair utilitarianism for risk sharing and collective risk aversion.
    Keywords: Fairness,social risk,utilitarianism
    Date: 2017–07
  182. By: Chantal Kegels; Dirk Verwerft
    Abstract: This working paper analyses the economic impact of a regulated professional services reform in Belgium through simulations based on the European Commission's DSGE model QUEST III R&D
    JEL: D24 E17 K23 L11
    Date: 2018–06–30
  183. By: Grytten, Ola Honningdal (Dept. of Economics, Norwegian School of Economics and Business Administration); Koilo, Viktoriia (HSM/NLA)
    Abstract: The present paper applies the financial instability hypothesis in order to explain the financial crises of 2008-2010 in eleven emerging Eastern European economies Also, it seeks to map if institutional frameworks of these countries enabled them to stand against the factors leading into the financial crisis. The paper maps cycles of three macroeconomic indicators representing the real economy, and four indicators representing financial markets. A cycle analysis is conducted with the help of a Hoderick-Prescott filter, made to isolate cycles from trends in time series. The paper concludes that there were substantial positive financial cycles previous to the financial crisis mirrored by similar cycles in the real economy. Similarly, the results show negative cycles in the same parameters during the years of crisis. It seems as an uncontrolled increase in money and credit caused the economy to overheat and thereafter contract in both substantial financial and real economy crises. Also, the paper compiles twelve different indices of institutional development. These are standardized and presented in an institutional development matrix, showing that the institutional framework for the eleven economies was weak previous to and under the melt down of the economy. The construction of an integrated institutional development index on the basis of the same twelve parameters confirm institutional shortcomings, which may have made the economies less able to guard themselves from a crisis initiated by both domestically and internationally financial instability.
    Keywords: Financial Crisis; Financial Instability Hypothesis; Institutional Development; Crisis Anatomy; Financial History; Eastern European Economies; Emerging Economies
    JEL: E32 E44 E51 E52 G15 N14 N24
    Date: 2019–04–27
  184. By: Tiziano De Angelis; Erik Ekstr\"om
    Abstract: We study a class of optimal stopping games (Dynkin games) of preemption type, with uncertainty about the existence of competitors. The set-up is well-suited to model, for example, real options in the context of investors who do not want to publicly reveal their interest in a certain business opportunity. We show that there exists a Nash equilibrium in randomized stopping times which is described explicitly in terms of the corresponding one-player game.
    Date: 2019–05
  185. By: Kataishi, Rodrigo; Pérez, Lucía; Durán, Laura
    Abstract: Este artículo se propone analizar los perfiles turísticos de los viajeros que visitan Ushuaia (Argentina) durante la temporada invernal en base a datos del 2015. La metodología aplicada se apoya en un relevamiento de datos implementado por la Universidad Nacional de Tierra del Fuego (UNTDF) y el Instituto Fueguino de Turismo (INFUETUR), analizado cuantitativamente de forma descriptiva y econométrica. Bajo la idea de que la comprensión de los perfiles de demanda es un insumo clave para el avance en políticas de desarrollo local y de fortalecimiento de encadenamientos productivos, se exploran dos modelos econométricos Minimum Least Square (MLS) que estudian las relaciones estadísticas entre el perfil de los visitantes y otras variables. Como resultado, se destaca que algunas actividades, como los deportes extremos de montaña y las travesías en 4x4, están asociadas a perfiles de alto gasto relativo, caracterizados por ser extranjeros, de corta estadía en la ciudad y sin hijos. Se concluye reflexionando acerca del desarrollo de propuestas de intervención en base a los perfiles de gasto identificados.
    Keywords: Demanda Turística; Perfil del Turista; Análisis Econométrico; Ushuaia;
    Date: 2018
  186. By: The NQP Serious Mental Illness Action Team; which included Mathematica staff.
    Abstract: In May 2019, NQF released the NQP Playbookâ„¢: Improving Access to High-Quality Care for Individuals with Serious Mental Illness.
    Keywords: mental illness, high-quality care, NQP
    JEL: I
  187. By: Jenn, Alan; Lee, Jae Hyun; Hardman, Scott; Tal, Gil
    Abstract: We investigate the impacts of a combination of incentives on the purchase decisions of electric vehicle (EV) buyers in California from 2010 through 2017. We employ a comprehensive survey on over 14,000 purchasers of EVs in California. The survey covers a range of purchase intentions, general demographics, and the importance of various incentives. Our results indicate that the most important incentives for plug-in electric vehicle (PEV) owners are the federal tax credit, the state rebate, and HOV lane access. In addition, the importance of the incentives and their associated effect on purchase behaviour has been changing over time: respondents are more likely to change their decisions and to not buy a vehicle at all as time passes and the technology moves away from early adopters.
    Keywords: Engineering, Electric vehicles, incentives, high occupancy vehicle lanes, consumer behavior, automobile ownership
    Date: 2019–05–01
  188. By: Dominique Guegan (UP1 - Université Panthéon-Sorbonne, Labex ReFi - UP1 - Université Panthéon-Sorbonne, University of Ca’ Foscari [Venice, Italy], CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)
    Abstract: Les ICO donnent l'opportunité aux personnes possédant des cryto-monnaies d'investir ces montants. Ces opérations se sont multipliées au cours des deux dernières années, mais elles présentent des risques importants tant pour les souscripteurs que les émetteurs. Il est urgent de leur fixer un cadre réglementaire approprié.
    Keywords: Blockchain,Cryptographie,Régulation,ICO
    Date: 2018–01
  189. By: Pahnke, André; Schneck, Stefan; Wolter, Hans-Jürgen
    Abstract: Die vorliegende Untersuchung setzt sich mit der Situation von Selbstständigen in der Grund-sicherung auseinander. Ursächlich für den Bezug von ergänzenden Leistungen der Grundsi-cherung sind in den meisten Fällen deutlich rückläufige Einkommen. Tatsächlich ist die Ein-kommenssituation selbstständiger Leistungsberechtigter trotz guter Ausbildung und langer Arbeitszeiten noch deutlich schlechter als die der abhängig Beschäftigten in der Grundsiche-rung. Dennoch gelingt es den meisten Selbstständigen, die Hilfebedürftigkeit relativ schnell wieder zu beenden. Ein Teil von ihnen ist allerdings verhältnismäßig lange auf ALG II ange-wiesen. Da dies in den meisten Fällen betriebliche Gründe haben dürfte, ist hier möglicher-weise das der Selbstständigkeit zugrunde liegende Geschäftsmodell kritisch zu hinterfragen. Allgemein ist die Grundsicherung für Selbstständige jedoch ein sinnvolles Instrument, das es vielen ermöglicht, ihr Unternehmen nach einer Krise neu auszurichten und anschließend wieder auf eigenen Beinen stehen zu können.
    Keywords: Selbstständige,Einkommen,Erwerbsarmut,Arbeitslosengeld II,Self-Employed,Income,Working Poor,Means-Tested Benefits
    JEL: D31 I32 L26
    Date: 2019
  190. By: Nguyen, Trung Thanh; Tran, Viet Tuan; Nguyen, Thanh-Tung; Grote, Ulrike
    Abstract: Using panel data of more than 1,000 rural households from three rural provinces in Vietnam, we find that farming efficiency is a driver of cropland rental market development that enhances land use efficiency and results in an overall income gain for market participants. Our findings highlight the importance of cropland rental markets in facilitating economic transformation in rural areas of rapidly growing economies, but also indicate the need to take care of the poor to ensure that they are not left behind.
    Keywords: Land Economics/Use
    Date: 2019–04–28
  191. By: Ligon, Ethan; Schechter, Laura
    Keywords: Social and Behavioral Sciences
    Date: 2019–05–16
  192. By: Matthias Fahn; Regina Seibel (University of Zurich)
    Abstract: We study optimal employment contracts for present-biased employees who can conduct on-the-job search. Presuming that firms cannot offer long-term contracts, we find that individuals who are naive about their present bias will actually be better off than sophisticated or time-consistent individuals. Moreover, they search more, which partially counteracts the inefficiencies caused by their present bias.
    Keywords: Present bias, on-the-job search
    JEL: D21 D83 D90 J31 J32
    Date: 2019–04
  193. By: Eugene Braslavskiy (School of Economics, University of Adelaide); Firmin Doko Tchatoka (School of Economics, University of Adelaide); Virginie Masson (School of Economics, University of Adelaide)
    Abstract: This study investigates the role of punishment substitutability in the empirical estimation of the economic model of crime. Using a dynamic panel data model fitted to a panel of Local Government Areas in New South Wales, Australia, we evaluate the effects of financial penalties and imprisonment on the crime rate. Our results show that crime is clearly a dynamic phenomenon, and that failure to incorporate both financial penalties and imprisonment can lead to a misspecfied model. Furthermore, our results vary signifcantly for different crime categories, highlighting the importance of analysing specific crime categories separately.
    Keywords: crime, deterrence, punishment, panel data, aggregation bias
    JEL: K14 C23 C26 C51
    Date: 2019–02
  194. By: Narciso Gaia
    Abstract: This paper investigates the effect of commodity prices, in particular rice and coffee, on the individual decision of migrating in Viet Nam.As most coffee production is sold by households for exports, we would expect that coffee price shocks would have a direct effect on the probability of migrating. On the other hand, we would anticipate that fluctuations in rice prices have little or no effect on migration decisions, given that rice is mainly produced for household consumption.The results of the analysis confirm our assumptions. We provide evidence that the lower the coffee price, the higher the likelihood of migrating. This evidence seems to suggest that migration acts as a shock-coping strategy.We find that rice prices have no effect on the probability of migrating. We further explore the extent of migrants’ self-selection and show that lower coffee prices increase the migration probability of individuals with lower education.
    Keywords: Migration,Price shocks
    Date: 2018
  195. By: Suckert, Lisa
    Abstract: Um den Konflikt zwischen EU-Befürwortern und -Kritikern zu beschreiben, wird häufig das wirtschaftspolitische Gegensatzpaar "ökonomischer Nationalismus" versus "globalen Freihandel" bemüht. Der vorliegende Beitrag nimmt das britische EU-Referendum zum Anlass, sich kritisch mit dieser Dichotomie auseinanderzusetzen. Entlang einer wirtschaftssoziologischen, diskursanalytischen Untersuchung von rund 400 Kampagnendokumenten zeigt sich, dass dieses Gegensatzpaar die wirtschaftspolitischen Standpunkte von Gegnern und Befürwortern des Brexit nur unzureichend beschreibt. Es wird deutlich, dass insbesondere die Position der EU-Skeptiker durch die Integration gegensätzlicher wirtschaftspolitischer Idealbilder und historischer Argumente geprägt war. Diese Unbestimmtheit erlaubte wiederkehrende Verweise auf unterschiedliche wirtschaftspolitische Traditionen Großbritanniens: einer Wirtschaftsnation, deren Selbstverständnis historisch sowohl von Nationalismus als auch von Globalismus, sowohl von Liberalismus als auch von Interventionismus geprägt wurde und die daher gleichzeitig nach ökonomischer Öffnung und ökonomischer Schließung strebt. Die Fähigkeit der Brexit-Befürworter, ein heterogenes Bündnis zu mobilisieren, könnte somit auch darin begründet liegen, dass es ihnen gelang, eine potenzielle ökonomische Zukunft zu skizzieren, die verschiedene Facetten der ambivalenten ökonomischen Identität Großbritanniens anspricht und damit für verschiedene Weltanschauungen und Interessen anschlussfähig erscheint.
    Keywords: Brexit campaign,economic identity,economic imaginaries,economic nationalism,free trade,tradition,Brexit-Kampagne,Freihandel,ökonomische Idealbilder,ökonomische Identität,ökonomischer Nationalismus,Tradition
    Date: 2019
  196. By: Dare, A.M.; Ayinde, I.A.; Shittu, A.M.; Akerele, D.; Sam-Wobo, S.O.
    Keywords: Consumer/Household Economics
    Date: 2017–10
  197. By: Henstridge Mark
    Abstract: There are large volumes of gas offshore Tanzania, which has raised hopes of a boom. But those hopes look set to be disappointed. A boom would depend on there being a sizeable flow of revenue to government from producing and exporting gas.This paper sets out the scale of the gas, and the array of risks which currently make investment in gas production, and any associated boom, unlikely. As well as geological, engineering, and market risks, the risks to investment from public policy have been elevated over the last few years.
    Keywords: Boom,Developing countries,Institutions,Natural gas,Natural resources,Macroeconomics
    Date: 2018
  198. By: Etowa, Egbe B.; Elum, Zelda A.; Mwiido, Wmmanuel D.
    Keywords: Land Economics/Use
    Date: 2017–10
  199. By: Fischer, Christoph
    Abstract: Equilibrium real exchange rate and corresponding misalignment estimates differ tremendously depending on the panel estimation method used to derive them. Essentially, these methods differ in their treatment of the time-series (time) and the cross-section (space) variation in the panel. The study shows that conventional panel estimation methods (pooled OLS, fixed, random, and between effects) can be interpreted as restricted versions of a correlated random effects (CRE) model. It formally derives the distortion that arises if these restrictions are violated and uses two empirical applications from the literature to show that the distortion is generally very large. This suggests the use of the CRE model for the panel estimation of equilibrium real exchange rates and misalignments.
    Keywords: equilibrium real exchange rate,panel estimation method,correlated random effects model,productivity approach,BEER,price competitiveness
    JEL: F31 C23
    Date: 2019
  200. By: Beni Kouevi Gath; Pierre-Guillaume Méon; Laurent Weill
    Abstract: We study the impact of banking crises on the level of democracy. We use an event-study method on a sample of up to 129 countries over the period 1975-2010 accounting for 94 systemic banking crises. We find that banking crises are followed by an improvement in democracy and report evidence suggesting that the relation is causal. The bulk of the improvement takes place between 3 and 10 year after the banking crisis. The impact of a banking crisis is greater in non-democratic countries and when the banking crisis is severe. We explain this finding by the fact that banking crises create windows of opportunity to contest autocratic regimes.
    Keywords: Banking crisis; Democracy; Regime change; Transitions
    JEL: D72 H11
    Date: 2019–05–10
  201. By: Chen, Daniel; Hopfensitz, Astrid; van Leeuwen, Boris (Tilburg University, Center For Economic Research); van de Ven, J. (Tilburg University, Center For Economic Research)
    Abstract: The emotion that someone expresses has consequences for how that person is treated. We study whether people display emotions strategically. In two laboratory experiments, participants play task delegation games in which managers assign a task to one of two workers. When assigning the task, managers see pictures of the workers and we vary whether getting the task is desirable or not. We find that workers strategically adapt their emotional expressions to the incentives they face, and that it indeed pays off to do so. Yet, workers do not exploit the full potential of the strategic display of emotions.
    Keywords: emotions; expressions; communication; experiment; incentives
    JEL: D91 C91 D83
    Date: 2019
  202. By: Catalin Goia (Academy of Economic Studies)
    Abstract: As long as the volatile economic terms blend with a constantly changing competitive environment, the financial services will be at a crossroads and the future of a large number of companies will be uncertain. The lack of an adequate financial supervision can lead to a financial disaster, as the one from 2007 till 2008 which started a global, unprecedented, systematic, profound, lasting crisis and nevertheless it has revealed significant gaps inside the control and supervision of the financial services on national and international level.This article wishes to present the financial supervision terms and the systemic risk through a systematic integration analysis of the scientific specialized literature without forgetting the latest information provided by the supervisors
    Keywords: ETF, portfolio diversification, portfolio management, investment funds, capital market, personal finance
    JEL: G11 G23
    Date: 2018–05
  203. By: Viarengo Martina; Kirchberger Martina
    Abstract: The construction sector plays a key role in providing structures for economies.This paper surveys the literature on key issues pertaining to the construction sector. It starts by summarizing our knowledge about differences in unit costs across time and space. It then discusses key bottlenecks in the sector related to organization and capabilities, institutional constraints, critical inputs, and governance and corruption.It concludes by outlining policy options related to institutional and regulatory reforms as well as procurement and local content.
    Keywords: infrastructure,Procurement,Construction industries
    Date: 2018
  204. By: Bellemare, Charles; Sebald, A.; Suetens, Sigrid (Tilburg University, Center For Economic Research)
    Abstract: We investigate whether the concept of guilt aversion in economics is related to the psychological characterization of the same phenomenon. For trust games and dictator games we report correlations between the guilt sensitivity measured within a framework of psychological games most common in economics and the guilt sensitivity measured using a questionnaire common in psychology (TOSCA-3). We find that the two measures correlate well and significantly in the two settings.
    Keywords: guilt sensitivity; psychological game theory; TOSCA; laboratory experiment; guilt aversion
    JEL: A13 C91
    Date: 2019
  205. By: Barbara Ubaldi; Charlotte Van Ooijen; Benjamin Welby
    Abstract: Over the last decade the Open Government Data movement has successfully highlighted the value of data and encouraged governments to open up information for reuse both inside, and outside the public sector. This Working Paper argues that governments now need to go further and put the role and value of data at the core of thinking about the digital transformation of government. A data-driven public sector (DDPS) recognises that data are an asset, integral to policy making, service delivery, organisational management and innovation. The strategic approach governments take to building a DDPS can have a positive impact on the results they deliver by promoting evidence-led policy making and data-backed service design as well as embedding good governance values of integrity, openness and fairness in the policy cycle. After framing the concept the paper presents the opportunities offered by embracing the DDPS approach and identifies some of the challenges that governments may face in establishing a DDPS before concluding with the discussion of the need for coherent strategic approaches that reflect the role of data across the entire public sector, not only from a policy point of view but from an operational and practical perspective.
    Date: 2019–05–17
  206. By: Athur, Mabiso; Mohamed, Abouaziza; Benjamin, D. K. Wood; Tim, Balint
    Abstract: This report presents results of an ex-post impact assessment (IA) of select components of the PRICE project relating to coffee, horticulture and financial services. The IA was conducted between May 2017 and July 2018 and used both qualitative and quantitative research methods. The current report mainly focuses on the quantitative results, while drawing on some of the insights from the qualitative survey. The quantitative results are based on secondary panel data of 85 coffee cooperatives observed over six years between 2012 and 2017 (510 observations) and two cross-sectional primary datasets collected using household surveys in 2018: (i) a sample of 2894 coffee farmers who are members of the coffee cooperatives observed over six years and (ii) 1584 horticulture farmers for the horticulture-finance component. We used a variety of quasi experimental and non-experimental design methods to estimate our results, namely difference-in-difference estimations for the cooperative-level panel data, inverse probability weight matching and entropy balancing approaches for the coffee household data, and regression discontinuity design for the horticulture-finance data.
    Keywords: Community/Rural/Urban Development, Crop Production/Industries, Demand and Price Analysis
    Date: 2018
  207. By: Tijani, I.A.; Alawode, O.O.; Fawehinmi, o.O.; Gafar, A.O; Kolade, O.A.
    Abstract: Thi~ paper aims at highlighting the peculiarity of agribusiness to economic growth and development. It comprehensively examines factors (policies and regulations) that hinder and or aids agribusiness development. This exercise will help put into perspective factors that are relevant for specific stages of agribusiness and agro-industrial development, via the creation of an enabling environment, by examining and identifying policies, and regulations that have bearing on agribusiness. The paper equally aims at promoting investments in agro-enterprises and agro-based value chain development.
    Keywords: Agribusiness, Agricultural and Food Policy
    Date: 2017–10
  208. By: Hai-Anh H. Dang (World Bank); Umar Serajuddin (World Bank)
    Abstract: The Sustainable Development Goals (SDGs) recently adopted by the United Nations represent an important step to identify shared global goals for development over the next two decades. Yet, the stated goals are not as straightforward and easy to interpret as they appear on the surface. Review of the SDG indicators suggests that some further refinements to their wordings and clarifications to their underlying objectives would be useful. We bring attention to potential pitfalls with interpretation, where different evaluation methods can lead to different conclusions about country performance. Review of the United Nations’ SDG database highlights the overwhelming challenge with missing data: data are available for just over half of all indicators and for just 19 percent of what is needed to comprehensively track progress across countries and over time. We offer further reflections and propose some simple but cost-effective solutions to these challenges.
    Keywords: SDGs, monitoring, data challenges, survey data, international organization.
    JEL: F00 I3 O1
    Date: 2019–04
  209. By: Lundstøl Olav; Isaksen Jan
    Abstract: In 2008, the Government of Zambia reformed its mining tax regime for large-scale copper mines through a unilateral legislative change. The country went from having one of the lowest average effective tax rates and government take to be above the average.We focus on a particularly controversial element of the packet of changes: the windfall tax. We trace adjustments in the mining tax regimes since independence and calculate effective tax rates and the fiscal sharing between government and companies. Empirical evidence shows the 2008 mining tax regime as being both understandable and justifiable from an economic point of view, considering the nature of the state and the copper companies.
    Keywords: fiscal benefit sharing,Mining,windfall tax
    Date: 2018
  210. By: Khan Mushtaq
    Abstract: The role of institutions in Asian development has been intensely contested since Myrdal’s Asian Drama, with later contributions from institutional economics and developmental state theory.Despite much progress, the dominant approaches do not agree about the institutions that matter nor do they explain why similar institutions delivered such different results across countries.Cultural norms and informal institutions clearly matter but the appropriate norms did not already exist in successful countries; they evolved over time. The distribution of holding power across different types of organizations, the ‘political settlement’, can explain the diversity of experiences and help to develop more effective policy.
    Keywords: Norms,Organizations,Political settlements,Development,Industrial policy,Institutions
    Date: 2018
  211. By: Mohnen, Pierre (UNU-MERIT, and SBE, Maastricht University)
    Abstract: This paper reviews various technological indicators from innovation inputs to innovation outputs, pointing out their strengths and weaknesses and the consequent caution that is in order when using these data for economic analysis. It briefly explains the theoretical link between innovation and productivity growth and then compares the estimated magnitudes of that relationship using the different innovation indicators.
    Keywords: innovation, productivity, indicators
    JEL: D24 O31 O33 O47
    Date: 2019–05–06
  212. By: Archil Gulisashvili; Ra\'ul Merino; Marc Lagunas; Josep Vives
    Abstract: In the present paper, a decomposition formula for the call price due to Al\`{o}s is transformed into a Taylor type formula containing an infinite series with stochastic terms. The new decomposition may be considered as an alternative to the decomposition of the call price found in a recent paper of Al\`{o}s, Gatheral and Radoi\v{c}i\'{c}. We use the new decomposition to obtain various approximations to the call price in the Heston model with sharper estimates of the error term than in the previously known approximations. One of the formulas obtained in the present paper has five significant terms and an error estimate of the form $O(\nu^{3}(\left|\rho\right|+\nu))$, where $\nu$ is the vol-vol parameter, and $\rho$ is the correlation coefficient between the price and the volatility in the Heston model. Another approximation formula contains seven more terms and the error estimate is of the form $O(\nu^4(1+|\rho|)$. For the uncorrelated Hestom model ($\rho=0$), we obtain a formula with four significant terms and an error estimate $O(\nu^6)$. Numerical experiments show that the new approximations to the call price perform especially well in the high volatility mode.
    Date: 2019–05
  213. By: Jamal Bouoiyour (CATT - Centre d'Analyse Théorique et de Traitement des données économiques - UPPA - Université de Pau et des Pays de l'Adour, IRMAPE - Institut de Recherche en Management et Pays Emergents - ESC Pau); Refk Selmi (CATT - Centre d'Analyse Théorique et de Traitement des données économiques - UPPA - Université de Pau et des Pays de l'Adour, IRMAPE - Institut de Recherche en Management et Pays Emergents - ESC Pau)
    Abstract: Oil prices have tumbled after Saudi Arabia and its allies cut ties with Qatar, sparking anxiety that OPEC's fragile deal to curtail oil production could come undone. Also and although its daily oil output of around 600,000 barrels represents less than one percent of world crude production, Qatar is a major player in liquefied natural gas. This means that the current deterioration in relations among the Middle East neighbours would have significant implications for oil and gas markets.This paper is novel in its methodological approach, which is used to decompose the variance of oil stock price indices into contributions from country-specific uncertainty and uncertainty common to all countries. The analysis reveals that the contributing factors have varied over time. Prior to the blockade on Qatar, the region-specific uncertainty plays an important role in driving the volatility of oil and gas shares for all cases. In considering the post-boycott, an increasing importance of the country-specific uncertainty factor is shown. This suggests that GCC states that have long resisted making a collective effort to accomplish energy security, are now moving into a new era during which securing their own supply routes will be an indispensable part of their mode of operation. To strengthen energy cooperation, it is first necessary to rebuild trust.
    Keywords: oil and gas markets,country- specific uncertainty,region-specific uncertainty,Qatar diplomatic crisis
    Date: 2019–04–17
  214. By: Basu Kaushik
    Abstract: This paper is a short history of the Indian economy since 1968.India today is a changed country from what it was half a century ago, when Myrdal published his Asian Drama. The stranglehold of low growth has been broken, its population below the poverty line has fallen markedly, and India has joined the pantheon of major players globally.This paper analyses the economic policies and the politics behind this transformation; and uses that as a backdrop to take stock of the huge challenges that lie ahead.
    Keywords: Growth,Gunnar Myrdal,Political economy,Technological innovations,Corruption
    Date: 2018
  215. By: Zhllima, Edvin; Imami, Drini; Rama, Klodjan
    Abstract: Land consolidation has been viewed by policy makers as panacea for tackling the inherited challenges of Albania´s egalitarian land reform. The paper argues that farmers´ efforts towards farm consolidation through land purchase and rent-in are affected by overall structural factors. Farm structure, farm-orientation and other socio-economic factors play an important role in farmers´ decision to purchase and rent-in agricultural land. Rental market has been the most common mechanism for consolidation, although agriculture land rent is not suitable for all agriculture activities, such as those which require long term investments.
    Keywords: Land Economics/Use
    Date: 2019–05–13
  216. By: Owoo Nkechi; Lambon-Quayefio Monica
    Abstract: The research explores the structure and performance of Ghana’s construction subsector, in light of the country’s 2007 oil discovery.Using primary and secondary data resources, we discuss how marginal costs and expenditure shocks may vary within the construction sector for subsectors such as housing, roads, and other important social infrastructure such as drainage.We analyse expenditure shocks that may result from inflation and price dynamics, finding that construction sector costs are closely related to exchange rate movements. We identify key bottlenecks to the supply response of the sector and recommend institutional and policy reforms to improve performance and output
    Keywords: Prices,Price dynamics,Construction sector,Expenditure shocks,infrastructure
    Date: 2018
  217. By: Zanfrillo, Alicia Inés; Artola, María Antonia
    Abstract: Los cambios establecidos por la Carta de Ottawa en la conceptualización de la salud pública sustituyeron estrategias de prevención de riesgos por otras de promoción centradas en el desarrollo de competencias. Contribuir a una mejor calidad de vida de las personas bajo condiciones sociales, políticas y económicas favorables implica asegurar los medios necesarios para un mayor control sobre las decisiones de salud con participación intersectorial conformada por diversas organizaciones. El objetivo del trabajo consiste en reconocer los modelos comunicativos en organizaciones vinculadas con la salud del Tercer Sector de la ciudad de Mar del Plata (República Argentina) en la actualidad. Sobre la población en estudio se adopta una metodología cuantitativa, descriptiva, que revela estrategias ancladas en la prevención, de carácter determinista, vertical, basadas en la difusión de contenidos y escasamente orientadas hacia la construcción colectiva de pautas de comportamiento que permitan concientizar sobre los factores contributivos al bienestar psico-bio-social.
    Keywords: Tercer Sector; Comunicación; Medios de Comunicación; Internet;
    Date: 2019
  218. By: Sarah Forrestal; Charlotte Cabili; Dallas Dotter; Christopher W. Logan; Patricia Connor; Maria Boyle; Ayesha Enver; Hiren Nissar
    Abstract: Findings from the extensive analyses of data collected in the SNMCS are presented in four report volumes. Report Volume 1(this volume) provides updated information about school meal program operations and school nutrition environments.
    Keywords: nutrition, meal cost, school lunch program
    JEL: I0 I1
  219. By: Louis Lévy-Garboua (CIRANO - Centre interuniversitaire de recherche en analyse des organisations - UQAM - Université du Québec à Montréal , PSE - Paris School of Economics, CES - Centre d'économie de la Sorbonne - CNRS - Centre National de la Recherche Scientifique - UP1 - Université Panthéon-Sorbonne); Muniza Askari (CES - Centre d'économie de la Sorbonne - CNRS - Centre National de la Recherche Scientifique - UP1 - Université Panthéon-Sorbonne); Marco Gazel (PSE - Paris School of Economics, CES - Centre d'économie de la Sorbonne - CNRS - Centre National de la Recherche Scientifique - UP1 - Université Panthéon-Sorbonne)
    Abstract: We design a double-or-quits game to compare the speed of learning one's specific ability with the speed of rising confidence as the task gets increasingly difficult. We find that people on average learn to be overconfident faster than they learn their true ability and we present an intuitive-Bayesian model of confidence which integrates confidence biases and learning. Uncertainty about one's true ability to perform a task in isolation can be responsible for large and stable confidence biases, namely limited discrimination, the hard–easy effect, the Dunning–Kruger effect, conservative learning from experience and the overprecision phenomenon (without underprecision) if subjects act as Bayesian learners who rely only on sequentially perceived performance cues and contrarian illusory signals induced by doubt. Moreover, these biases are likely to persist since the Bayesian aggregation of past information consolidates the accumulation of errors and the perception of contrarian illusory signals generates conservatism and under-reaction to events. Taken together, these two features may explain why intuitive Bayesians make systematically wrong predictions of their own performance.
    Keywords: Confidence biases , Intuitive-Bayesian , Learning , Double or quits , experimental game , Doubt , Contrarian illusory signals
    Date: 2017–06–20
  220. By: George J. Borjas
    Abstract: Immigration is sometimes claimed to be a key contributor to economic growth. Few academic studies, however, examine the direct link between immigration and growth. And the evidence on the outcomes that the literature does examine (such as the impact on wages or government receipts and expenditures) is far too mixed to allow unequivocal inferences. This paper surveys what we know about the relationship between immigration and growth. The canonical Solow model implies that a one-time supply shock will not have any impact on steady-state per-capita income, while a continuous supply shock will permanently reduce per-capita income. The observed relationship between immigration and growth obviously depends on many variables, including the skill composition of immigrants, the rate of assimilation, the distributional labor market consequences, the size of the immigration surplus, the potential human capital externalities, and the long-term fiscal impact. Despite the methodological disagreements about how to measure all of these effects, there is a consensus on one important point: Immigration has a more beneficial impact on growth when the immigrant flow is composed of high-skill workers.
    JEL: J6 O4
    Date: 2019–05
  221. By: Dominique Guegan (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, Labex ReFi - UP1 - Université Panthéon-Sorbonne); Bertrand Hassani (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, Labex ReFi - UP1 - Université Panthéon-Sorbonne); Kehan Li (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, Labex ReFi - UP1 - Université Panthéon-Sorbonne)
    Abstract: The distortion operator proposed by Wang (2000) has been developed in the actuarial literature and that are now part of the risk measurement tools inventory available for practitioners in finance and insurance. In this article, we propose an alternative class of distortion operators with explicit analytical inverse mapping. The distortion operators are based on tangent function allowing to transform a symmetrical unimodal distribution to an asymmetrical multimodal distribution.
    Keywords: Distortion operator,Multimodal distribution,Asymmetry,Invertibility
    Date: 2017–06
  222. By: Bauer, Christine; Rock, Verena
    Abstract: Dieses Arbeitspapier beschäftigt sich mit der Revitalisierung von Shopping-Centern in Deutschland. Mit diesem Papier wird das zentrale Ziel verfolgt, zu analysieren, welche Auswirkungen ausgewählte, aktuelle Trends auf den Einzelhandel und auf Shopping-Center haben. Des Weiteren wird untersucht, welche Maßnahmen im Zuge einer Revitalisierung nötig sind, damit Shopping-Center in Zukunft erfolgreich am Markt bestehen können, oder ob das Konzept dieser Asset-Klasse generell nicht mehr zukunftsfähig ist. In diesem Zusammenhang werden auch Erfolgsfaktoren, Chancen und Risiken analysiert, die speziell im Zusammenhang mit der Revitalisierung von Shopping-Centern relevant sind. Um eine fundierte Ausarbeitung der genannten Punkte liefern zu können, wurde eine empirische Studie in Kooperation mit dem German Council of Shopping Centers e.V. durchgeführt. Diese wird im Rahmen des Arbeitspapiers mit der Revitalisierungsstudie von Sturm (2006), der letzten empirischen Analyse zu diesem Thema für den deutschen Markt, verglichen.
    Date: 2019
  223. By: Takuo Sugaya (Stanford Graduate School of Business); Yuichi Yamamoto (Department of Economics, University of Pennsylvania)
    Abstract: We study repeated games in which players learn the unknown state of the world by observing a sequence of noisy private signals. We find that for generic signal distributions, the folk theorem obtains using ex-post equilibria. In our equilibria, players commonly learn the state, that is, the state becomes asymptotic common knowledge.
    Keywords: repeated game, private monitoring, incomplete information, ex-post equilibrium, individual learning
    JEL: C72 C73
    Date: 2019–04–26
  224. By: Aldo González; Vicente Lagos
    Abstract: In developing countries, the penetration of Liquefied Petroleum Gas (LPG) is still high, and hence the entry of Natural Gas (NG) networks coexists with the use of LPG by an important fraction of households. Thus, a relevant policy question is whether the number and degree of horizontal integration among NG and LPG providers has an influence on the level of retail prices. Using selfreported LPG retail prices of the largest LPG provider in Chile for the period 2013-2014, we estimate that the presence of a competing NG network generates an average decrease of LPG retail prices within the range [-2,-4%] depending on the econometric specification. Thus, since the presence of an additional competing provider (i.e., an NG retailer) has an influence on the level of prices, LPG and NG may be indeed considered as imperfect substitutes. The main policy implication of this result is that the degree of horizontal integration between both types of providers should matter and there would be room for regulatory intervention aimed at proposing remedies in order to mitigate any potential anticompetitive effect.
    Date: 2019–05
  225. By: Osmani S.
    Abstract: The story of South Asia is a topsy-turvy one. Soon after independence from British rule, the region seemed to have a much better prospect than many other parts of the Third World; the prospects soon dimmed, however, as South Asia crawled while East and Southeast Asia galloped away.But a large part of the region seems finally to have turned a corner and is looking forward to a much better future—in terms of both growth and human development—than was deemed possible at the time Asian Drama was written.This paper describes and explains this story in terms of the economic strategies and political economy of the region and also looks ahead to identify the major challenges that remain—focusing on Bangladesh, Pakistan, Sri Lanka, Nepal, and Bhutan.
    Keywords: Growth,Human development,Inequality,Poverty
    Date: 2018
  226. By: Ioana-Maria Dobjanschi (Acamedy of Economics Studies, Bucharest)
    Abstract: The correlation between financial market development and economic growth was and is still an intensively studied theme from the theoretical and empirical point of view. Because of this fact, the main goal of this article is to theoretically and empirically discover the relationship between thefinancial markets and economic growth using panel regression, OLS method. The database used is composed from some variables for 30 countries during the period 2006-2016 and the frequency of the data is annual.
    Keywords: economic growth, financial markets development, capital market, banking market, panel regression
    JEL: C33 E51
    Date: 2018–11
  227. By: Lassila, Jukka; Valkonen, Tarmo
    Abstract: Abstract We study the use of pension funds in the Finnish earnings-related pension system with the aim of smoothing contributions over time under demographic and economic risks. Smoothing is affected by the revisions in long-term forecasts and is thus imperfect. As a partially funded defined-benefit system, demographic risks and asset yield risks directly affect the contributions. In a general equilibrium setup, these risks also affect wages and thus pension benefits and replacement rates. We also consider alternative benefit rules where risks are transferred more to the pensioners.
    Keywords: Pensions, Funding, Contribution smoothing, Risks, Generational fairness
    JEL: E17 H55
    Date: 2019–05–07
  228. By: Agbonkpolor N.B.; Alufohai G.O.; Mesike C.S.; Adindu, A.G.
    Abstract: The study investigated market integration of natural rubber across three major State markets, namely Edo, Delta and Akwa-Ibom, of the Nigeria us~ng Johansen Co-integration test, and Granger Causality by VECM. Empirical results for average monthly retail price data (N/kg) of natural rubber, covering the period January, 2005 to December, 2015 (11 years) indicated that Price series were not stationary in their level form. The Delta State price appeared to respond faster to changes than the Edo and Akwa-Ibom price. The study also showed the existence of co-integration among the studied markets. Granger causality showed unidirectional causality between Akwa-Ibom and Delta bidirectional for the other two market pairs. The significant coefficient of the error correction term showed immediate adjustment to changes in the longrun equilibrium.
    Keywords: Marketing
    Date: 2017–10
  229. By: Francesco De Palma; Yann Thommen
    Abstract: Policy advisers repeatedly call on Western European countries to reform their employment protection legislation (EPL) by adopting layoff taxes to finance unemployment insurance (UI). This new design, partly based on the existing "experience-rating" (ER) system in the U.S., would induce firms to internalize layoff fiscal costs and hence reduce unemployment. Its success remains uncertain in economies with a collective wage-setting system, as in many Western European countries. Using a matching model with endogenous job destruction, we provide an ex-ante evaluation of this policy reform’s effects on labor market outcomes in a firm-level bargaining economy and a sector-level bargaining one. Using numerical exercises, we show that compared to a scenario of a simple increase in EPL stringency, the implementation of an ER system results in a decrease in unemployment under both bargaining regimes. Because of the possibility for firms to adjust most terms and conditions of employment (including wage) in decentralized negotiations, juxtaposing the ER system with the existing EPL yields the best labor market performance under a firm-level bargaining regime. The lack of internal flexibility in sector-level bargaining calls for accompanying the implementation of the ER with a relaxation of the existing EPL’s stringency. Lastly, we show that in industries with a turbulent economic environment, accompanying the introduction of ER while reducing the existing EPL’s strictness is recommended.
    Keywords: Search and matching models, Collective bargaining, Experience rating, Employment protection.
    JEL: E10 J48 J50 J60
    Date: 2019
  230. By: Jian Gao; Yi-Cheng Zhang; Tao Zhou
    Abstract: Uncovering the structure of socioeconomic systems and timely estimation of socioeconomic status are significant for economic development. The understanding of socioeconomic processes provides foundations to quantify global economic development, to map regional industrial structure, and to infer individual socioeconomic status. In this review, we will make a brief manifesto about a new interdisciplinary research field named Computational Socioeconomics, followed by detailed introduction about data resources, computational tools, data-driven methods, theoretical models and novel applications at multiple resolutions, including the quantification of global economic inequality and complexity, the map of regional industrial structure and urban perception, the estimation of individual socioeconomic status and demographic, and the real-time monitoring of emergent events. This review, together with pioneering works we have highlighted, will draw increasing interdisciplinary attentions and induce a methodological shift in future socioeconomic studies.
    Date: 2019–05
  231. By: Michael Donadelli (Faculty of Economics and Business Administration and Research Center SAFE, Goethe University Frankfurt; Department of Economics, University Of Venice Cà Foscari); Luca Gerotto (University Of Venice Cà Foscari); Marcella Lucchetta (University Of Venice Cà Foscari); Daniela Arzu (University Of Venice Cà Foscari)
    Abstract: This paper examines the effects of changes in immigration-related uncertainty and fear on the real economic activity in four advanced economies (i.e., US, UK, Germany and France). Immigration uncertainty/fear is first captured by two news-based indicators developed by Baker et al. (2015), namely the Migration Policy Uncertainty Index (MPUI) and the Migration Fear Index (MFI), and then by a novel Google Trend Migration Uncertainty Index based on the frequency of internet searches for “immigration” (GTMU). VAR investigations suggest that the macroeconomic implications of rising immigration uncertainty/fear depend on the country under examination as well as on the way in which immigration uncertainty/fear is measured. In the US and UK, MPUI, MFI and GTMU shocks induce positive long-run effects on the real economic activity. Differently, in Germany, MPUI and MFI shocks lead to expansionary reactions whereas GTMU shocks generate significant adverse effects on the economy. This suggests that increasing media attention and rising population’s interest in immigration-related issues affect people’s mood in a different way. In France, MPUI, MFI and GTMU shocks induce negative macroeconomic effects in the long-run. A battery of robustness tests confirms our main findings.
    Keywords: Immigration, Uncertainty, Fear, Google Trends, Business Cycle
    JEL: C32 E32
    Date: 2018
  232. By: Maria Laura Toraldo (USI - Università della Svizzera italiana); Gazi Islam (MC - Management et Comportement - Grenoble École de Management (GEM), IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc); Gianluigi Mangia
    Abstract: Drawing from a participant-observer study of volunteering in the context of U.K. music festivals, we examine how the sense of meaningfulness and community relate to instrumental goals of consumption and efficiency. We argue that the liminal nature of the festival setting supports an ambivalence in which meaningfulness is established through constructions of community, while the commodification of community feelings leads to heterogeneous understandings of the work setting. Our findings reveal heterogeneous ways in which work was rendered meaningful by festival volunteers, ranging from 1.) A commodity frame, characterizing work as drudgery seeking "fun" through consumption 2.) A "communitas" frame, emphasizing a transcendental sense of collective immediacy and 3.) A cynical frame, where communitas discourse is used instrumentally by both managers and workers. We discuss meaningful work as caught between creative community and ideological mystification, and how alternative workspaces vacillate between emancipatory principles of solidarity and neo-normative forms of ideological control.
    Keywords: Meaningful work,volunteer,liminality,ideology,ethnography
    Date: 2018
  233. By: Miethlich, Boris; Šlahor, Ľudomír
    Abstract: After an accident or illness, it may be difficult or even impossible to return to work. Although occupational safety and health (OHS) are essential elements of corporate social responsibility (CSR), support for employees returning to work or vocational rehabilitation are rarely part of the CSR strategy. The aim of this paper is to assess and synthesize the current state of research of vocational rehabilitation in the context of CSR. A literature analysis was conducted to examine the need to address vocational rehabilitation as part of the CSR strategy as well as the existing approaches for implementation. Vocational rehabilitation is an important part of a company's social responsibility towards its employees as well as towards society. The promotion of vocational rehabilitation should be an essential element of the CSR strategy and can create shared value. However, a commitment to vocational rehabilitation alone is not enough; the commitment must be explicitly described and go beyond the legal minimum. That can be done, for example, through return-to-work (RTW) policies, proactive initiation and coordination of the rehabilitation process, the adaptation of the workplace and work activities, the institutionalization of sheltered workplaces, and a specialist unit for vocational rehabilitation within the company. Particularly access for external persons to the company's sheltered workplaces, internships or entry-level positions is a critical aspect for substantially promoting vocational rehabilitation and achieving additional shared value. Vocational rehabilitation as part of the CSR strategy must continue to be examined empirically, in particular "best practice" approaches from business practice.
    Keywords: vocational rehabilitation,disability management,shared value,CSR
    JEL: J14 M14 I18
    Date: 2018
  234. By: Joel Rabinovich (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique)
    Date: 2018–02–06
  235. By: Tatsuki Inoue
    Abstract: This study examines the role of pawnshops as a risk-coping strategy in Japan in the prewar period when poor people were highly vulnerable. Using data on pawnshop loans in more than 250 municipalities and the 1918--1920 influenza pandemic as a natural experiment, we find that the total loan amount increased because of the pandemic shock. Our results suggest that those who regularly relied on pawnshops borrowed from them more money than usual to cope with the adverse health shock, whereas others did not take out pawnshop loans. In addition, further analyses reveal that loans from pawnshops prevented an increase in the unemployment rate due to the pandemic. Pawnshops thus served as an informal social insurance mechanism in early twentieth-century Japan.
    Date: 2019–05
  236. By: Bhaduri Amit
    Abstract: Macroeconomic strategies and policies have differed significantly among Asian countries over the last fifty years, and yet some common issues recur despite their immense diversity in inherited historical initial conditions, differences in political systems, geo-political situations, location and size, and natural resource endowments.The present paper examines from a comparative perspective some of the issues like unemployment, role of the state and market, domestic versus foreign market, degree of openness in trade, investment and finance, industrial and technology policy, and economic and social inequality. We attempt to ascertain why some countries have been more successful in dealing with these issues through policy and institutional innovations.Our comparative perspective presents developmental choices and challenges as moving targets requiring flexible institutional and policy response at each stage of development, which makes uniform guidelines misleadingly over-simplistic.
    Keywords: Decentralization,Economic inequality,Labour market,Unemployment,State
    Date: 2018
  237. By: Eduardo Perez (Département d'économie)
    Abstract: This note gives a new proof of Blackwell’s celebrated result. The result is a bit stronger than the classical version since the action set and the prior are fixed, and only the utility of the decision maker varies. I show directly that a decision maker has access to a larger set of joint distributions over actions and states of the world if and only if her information improves in the garbling order.
    Date: 2017–11
  238. By: Eduardo Perez (Département d'économie)
    Abstract: This note gives a new proof of Blackwell’s celebrated result. The result is a bit stronger than the classical version since the action set and the prior are fixed, and only the utility of the decision maker varies. I show directly that a decision maker has access to a larger set of joint distributions over actions and states of the world if and only if her information improves in the garbling order.
    Date: 2017–11
  239. By: Egorov, Georgy; Sonin, Konstantin
    Abstract: We analyze persuasion in a model, in which each receiver (of many) might buy a direct access to the sender's signal or to rely on her network connections to get the same information. For the sender, a more biased signal increases the impact per subscriber (direct receiver), yet diminishes the willingness of agents to become subscribers. Contrary to the naive intuition, the optimal propaganda might target peripheral, rather than centrally located agents, and is at its maximum level when the probability that information flows between agents is either zero, or nearly one, but not in-between. The density of the network has a non-monotonic effect on the optimal level of propaganda as well.
    Keywords: Bayesian persuasion; networks; percolation; Propaganda
    JEL: D85 L82
    Date: 2019–05
  240. By: Lee, Y-W.;
    Abstract: In the last two decades, after the Asian financial crisis, Korea has witnessed a rapid increase in the share of temporary contractual work in its employment composition. In this paper, we investigate the impact of job insecurity and job loss on children’s health using Korea Welfare Panel Study data. We find that paternal job loss and insecurity has a significantly negative effect on health, while maternal job loss and insecurity has no effect. This could be because the effects of income loss and financial hardship are greater for male workers than for females.
    Keywords: child health: parental job loss and insecurity; panel data estimation; Korea welfare panel study;
    JEL: I12 J13 J63 C33
    Date: 2019–05
  241. By: Naoki Yoshihara (Department of Economics, University of Massachusetts Amherst); Se Ho Kwak (Department of Economics, University of Massachusetts Amherst)
    Abstract: In contrast to Mandler’s (1999a; Theorem 6) impossibility result about the Sraffian indeterminacy of the steady-state equilibrium, we first show that any regular Sraffian steady-state equilibrium is indeterminate in terms of Sraffa (1960) under the simple overlapping generation economy. Moreover, we also check that this indeterminacy is generic. These results are obtained by explicitly defining a simple model of overlapping gener- ation economies with Leontief production techniques, in which we also explain the main source of the difference between our results and Mandler (1999a; section 6).
    Keywords: Sraffian indeterminacy
    JEL: B51 D33 D50
    Date: 2019
  242. By: Pavlova, Elitsa; Signore, Simone
    Abstract: This paper examines the impact of venture capital (VC) investments supported by the EIF on the financial growth and performance of young and innovative firms. Using a novel dataset covering European start-ups supported by VC in the years 2007 to 2014, we generate a counterfactual group of non-VCbacked firms through a combination of exact and propensity score matching. To offset the relatively limited set of observables allowed by our data, we estimate treatment propensity using a series of innovative measures based on machine learning, network theory, and satellite imagery analysis. Our results document the positive effects of EIF-supported VC investments on start-up performance, as measured through various financial indicators (e.g. assets, revenue, employment). We find that VC financing enables start-ups to prioritise long-term growth, trading off short- to medium-term profitability if necessary. Overall, our work provides meaningful evidence towards the positive effects of EIF-supported VC investment on the financial growth of young and innovative businesses in Europe.
    Keywords: EIF,venture capital,public intervention,real effects,start-ups,machine learning,geospatial analysis,network theory
    JEL: G24 L25 M13 O38
    Date: 2019
  243. By: Davide Debortoli; Jordi Galí; Luca Gambetti
    Abstract: The zero lower bound (ZLB) irrelevance hypothesis implies that the economy's performance is not affected by a binding ZLB constraint. We evaluate that hypothesis for the recent ZLB episode experienced by the U.S. economy (2009Q1-2015Q4). We focus on two dimensions of performance that were likely to have experienced the impact of a binding ZLB: (i) the volatility of macro variables and (ii) the economy's response to shocks. Using a variety of empirical methods, we find little evidence against the irrelevance hypothesis, with our estimates suggesting that the responses of output, inflation and the long-term interest rate were hardly affected by the binding ZLB constraint, possibly as a result of the adoption and fine-tuning of unconventional monetary policies. We can reconcile our empirical findings with the predictions of a simple New Keynesian model under the assumption of a shadow interest rate rule.
    JEL: E44 E52
    Date: 2019–05
  244. By: Harker, Patrick T. (Federal Reserve Bank of Philadelphia)
    Abstract: Fed’s Harker on Unwinding: “Walk, Don’t Run”. A slow and steady approach to unwinding the Fed’s balance sheet is Philadelphia Fed President Patrick T. Harker’s preference. “So in metaphorical terms, it is a dark and stormy night, to quote Peanuts, and we are walking in the direction of a wall,” he told a conference audience. "In that situation, most of us would give the advice of ‘walk, don’t run.’”
    Keywords: monetary policy; GDP; outlook
    Date: 2019–05–06
  245. By: Miethlich, Boris; Šlahor, Ľudomír
    Abstract: Although companies recognize and promote the benefits of a diverse corporate culture, persons with disabilities (PWD), are more likely to be unemployed. Using secondary sources of information, this paper examines the need to address the employment of PWD as part of a Corporate Social Responsibility (CSR) strategy, highlighting various implementation measures and variants. It shows that the employment of PWD can only be promoted by companies themselves. Measures at the national and international levels have so far shown little success. For a successful implementation, an obligation in the CSR strategy is not enough, measures need to be described explicitly. At its core, it is always necessary to remove physical and mental barriers in the company in order to enable the employment of PWD. The adaptation of CSR initiatives concerning the employment of PWD should be further investigated. The research should particularly focus on “best practice” approaches from business practice.
    Keywords: CSR,Persons with disabilities,Diversity,Employment
    JEL: M14 J14
    Date: 2018
  246. By: Wang, Wenting; Wei, Longbao
    Abstract: As the world’s largest importer of agricultural commodities, China’s agricultural policies have significant implications for the world agricultural market. For the first time, we develop an aggregate structural econometric model of China’s soybean market with linkage to the rest of the world to analyze the worldwide impacts of China’s soybean price support policies from 2008 to 2016. We investigate the impacts of China’s policies on the variability of their domestic and world prices, and adopt a Monte Carlo simulation to evaluate the distributional and aggregate welfare effects. Results indicate that (a) China’s soybean price support policies play an effective role in stabilizing their domestic price, while its increasing imports absorb world production surplus and reduce world price swings; (b) China’s producers gain at the expense of consumers and budgetary costs, and the net welfare change in their domestic market is negative; (c) Soybean exporting countries experience considerable welfare gains, and the world net welfare change is positive. Our findings provide new insights for future trade negotiations and agricultural market reforms in developing countries.
    Keywords: Agricultural and Food Policy, International Relations/Trade
    Date: 2019–07
  247. By: Mueller Daniel; Sander Renes
    Abstract: We elicit distributional fairness ideals of impartial spectators using an incentivized elici- tation in a large and heterogeneous sample of the German population. We document several empirical facts: i) egalitarianism is the predominant ideal; ii) females are more egalitarian than men; iii) men are relatively more efficiency minded; iv) left-leaning voters are more likely to be egalitarians whereas right-leaning voters are more likely to be efficiency minded; and v) young and highly-educated participants hold different fairness ideals than the rest of the population. Moreover, we show that the fairness ideals predict preferences for redistribution and interven- tion by the government, as well as actual charitable giving, even after controlling for a range of covariates. Hence, our paper contributes to our understanding of the underpinnings of voting behavior and ideological preferences, as well the literature that links lab and field behavior.
    Keywords: Distributional fairness, impartial spectator, representative sample, po- litical attitudes, voting behavior, lab to field
    JEL: C90 D31 D63
    Date: 2019–08
  248. By: Hoang Trung
    Abstract: Using instrumental variable method and Viet Nam Access to Resources Household Surveys of 2008–16, I examine the effect of land fragmentation on child outcomes.The study shows that higher land fragmentation decreases child school dropout. Land fragmentation has significant impacts on school dropout of children aged 10–15, however, it does not have any impact on school dropout of children aged 6–10. I explain these findings through one particular mechanism—that is women empowerment.A higher level of land fragmentation increases women’s empowerment to decide on visits to family, friends or relatives, on the purchase of daily goods, on large purchases, on her own health, and on her children’s health.
    Keywords: Child education,Instrumental variable,Lnd fragmentation
    Date: 2018
  249. By: Wohlrabe, Klaus; Bornmann, Lutz
    Abstract: In this article, we revisit the analysis of Laband and Tollison (2006) who documented that articles with two authors in alphabetical order are cited much more often than non-alphabetized papers with two authors in the American Economic Review and the American Journal of Agricultural Economics. Using more than 120,000 multi-authored articles from the Web of Science economics subject category, we demonstrate first that the alphabetization rate in economics has declined somewhat over the last decade. Second, we find no statistically significant relationship between alphabetized co-authorship and citations in economics (the coefficients are very small). Third, we show that the likelihood of non-alphabetized co-authorship increases the more authors an article has.
    Keywords: alphabetization, co-authorship, citations, Web of Science
    JEL: A12 A14
    Date: 2019–05–10
  250. By: Delphine Bassilière; Ludovic Dobbelaere; Filip Vanhorebeek
    JEL: C5 E17
    Date: 2018–09–25
  251. By: Aytul Ganioglu; Unal Seven
    Abstract: This paper analyzes the long-run convergence of regional house prices in Turkey. Using a non-linear time-varying factor model and quarterly house price data for the period between 2010 and 2018, we find that house prices do not converge across the 26 regions. The results reveal that the regions can be grouped into seven convergence clubs and one divergent club, confirming the heterogeneity and complexity of the Turkish housing market. These results also imply the existence of multiple steady states in the housing market. These outcomes will be beneficial to home buyers/sellers, investors, regulators and policymakers, who are interested in analyzing the dynamic interlinkages among house prices and the effects of shocks originating from the regional housing markets.
    Keywords: Housing market, House prices, Log-t test, Regional convergence
    JEL: R31 O18 C33
    Date: 2019
  252. By: Wier Ludvig
    Abstract: This paper provides the first direct systematic evidence of profit shifting through transfer mispricing in a developing country.Using South African transaction-level customs data, I directly test for transfer price deviations from arm’s-length pricing. I find that multinational firms in South Africa manipulate transfer prices in order to shift taxable profits to low-tax countries. The estimated tax loss is 0.5 per cent of corporate tax payments.My estimates do not support the common belief that transfer mispricing in South Africa is more severe than in advanced economies. I find that an OECD-recommended reform had no long-term impact on transfer mispricing but argue that the method used in this paper provides a cost-efficient way to curb transfer mispricing.Resources Appendix.xlsx
    Keywords: Multinational firms,Profit shifting,Tax,Developing countries,International taxation
    Date: 2018
  253. By: Guillaume Chevillon (Essec Business School); Alain Hecq (Department of Quantitative Economics [Maastricht] - Maastricht University [Maastricht]); Sébastien Laurent (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique)
    Abstract: This paper shows that a large dimensional vector autoregressive model (VAR) of finite order can generate fractional integration in the marginalized univariate series. We derive high-level assumptions under which the final equation representation of a VAR(1) leads to univariate fractional white noises and verify the validity of these assumptions for two specific models.
    Keywords: Marginalization,Long memory,Final equation representation,Vector autoregressive model
    Date: 2018
  254. By: Alvarez, María Julia; Labrunée, María Eugenia
    Abstract: Este documento analiza los avances y pendientes en los programas de inclusión laboral de personas con discapacidad intelectual ofrecidos por el estado y las organizaciones de la sociedad civil (OSC). Para esto, describe la oferta institucional vigente y la percepción sobre su funcionamiento. El acercamiento considera la perspectiva de quienes gestionan estos programas en instituciones, así como beneficiarios de Ciudad Autónoma de Buenos Aires y del Gran Buenos Aires en 2017. Es decir, el abordaje incluye un análisis de datos de fuentes secundarias e información primaria: entrevistas en profundidad con trabajadores con discapacidad intelectual y referentes de organizaciones que apoyan su inclusión laboral. Como resultado, se evidencia una incipiente mejora de los niveles de inclusión laboral de este grupo con efectos positivos en el bienestar, especialmente subjetivo, gracias al acceso a programas estatales y de diferentes OSC. Se reflexiona sobre los pasos que restan hacia una adecuada aplicación de la legislación y las mejoras necesarias para ampliar el acceso al trabajo para las personas con discapacidad e igualar sus oportunidades.
    Keywords: Discapacidad; Inclusión Social; Inserción Laboral; Bienestar; Política de Empleo;
    Date: 2019–03–18
  255. By: Li Shi; Wan Haiyuan; Li Qinghai
    Abstract: With the data on the top incomes collected from different sources, we combine the samples of the top incomes with a household survey to investigate changes in the income distribution with and without the top incomes.The Gini coefficient of income inequality using household survey data is 0.464 for 2016, and it jumps to 0.646 after including the samples of the top incomes, which demonstrates the great importance of the top incomes in estimating income inequality.
    Keywords: Pareto distribution,Top incomes,Income inequality
    Date: 2018
  256. By: Wan Guanghua; Wang Chen
    Abstract: This paper aims to depict the post-Second World War poverty and inequality trends in Asia, its sub-regions, and individual economies.Efforts are made to explain these trends and explore the interrelationship between growth, poverty, and inequality in Asia. Analytical results confirm significant reductions in poverty across the board due to fast growth, although the benign effect of growth on poverty was offset by worsening distribution in many economies.Looking ahead, Asia is expected to eradicate poverty but likely to continue facing high inequality, particularly as major technology breakthroughs such as artificial intelligence and the internet of things replace more and more labour.
    Date: 2018
  257. By: Tolorunju, E.T.; Dipeolu, A.O.; Sansuni, R.A.; Akerele, D.; Oladeji, S.O.; Edewor, S.E.; Ogbe, A.O.
    Keywords: Community/Rural/Urban Development, Consumer/Household Economics
    Date: 2017–10
  258. By: Ötsch, Walter; Graupe, Silja
    Abstract: Das Paper gibt einen Überblick über das Leben und die Bedeutung von Walter Lippmann, der in der ersten Hälfte des 20. Jahrhunderts einer der bedeutendsten Journalisten der USA war. Lippmann hat sich auch an Propagandaaktivitäten im Ersten Weltkrieg beteiligt und aufgrund dieser Erfahrung u.a. 1922 das Buch Public Opinion publiziert. Dieses Buch wird hier zusammenfassend beschrieben und in seiner Bedeutung eingeschätzt. Dies wird dann einem weiteren Buch von Lippmann Buch, nämlich The Good Society aus dem Jahre 1937, gegenübergestellt - das letztere Buch gab Anlass zum so genannten Walter Lippmann Colloque 1938 in Paris, das als die erste internationale Veranstaltung des Neoliberalismus gilt. Lippmanns Manipulationsideen werden verglichen mit denen, die Friedrich August von Hayek aus Anlass der Gründung der Mont Pèlerin Society , die als Nachfolgeorganisation des Walter Lippmann Colloque gilt: Lippmann hat vor Manipulation gewarnt, die Demokratie sei damit gefährdet. Demgegenüber wollte sich Hayek der Manipulation "der Massen" bedienen, nur so könne "die Zivilisation" gerettet werden.
    Keywords: Manipulation,Propaganda,Stereotype,innere Bilder,Beeinflussung des Unbewussten,Massendemokratie,Neoliberalismus,ökonomische Bildung,Marktfundamentalismus,Public Relation,Spin
    JEL: A11 A12 A14 A21 B25 P16 Z13
    Date: 2018
  259. By: Carbonnier Gilles
    Abstract: This paper introduces the origins and scope of humanitarian economics, a vibrant field of study and practice that deals with the economics and political economy of war, disaster, and humanitarian action.To illustrate the field’s scientific and policy relevance, the paper draws on various examples and highlights the potential of humanitarian economics to better understand and address some of today’s thorniest humanitarian challenges. Finally, the paper calls for novel interdisciplinary, cross-sector collaborations to push a pressing research agenda forward.
    Keywords: political economy of aid,war economics,disaster economics,Humanitarianism
    Date: 2018
  260. By: Emilio Carnevali (University of Leeds, Economics Division; and Department for Work and Pensions, UK Government.); Matteo Deleidi (University College London, Institute for Innovation and Public Purpose; and Roma Tre University, Department of Economics.); Riccardo Pariboni (Roma Tre University, Department of Economics; and Freie Universitat, Berlin.); Marco Veronese Passarella (University of Leeds, Economics Division)
    Abstract: We develop an ecological open-economy SFC model that enables testing cross-area interactions among productive sectors, financial markets and the ecosystem. We show that the unequal technical progress across areas, coupled with rising ecological awareness, can force governments of less ecologically efficient areas to move further away from low-carbon assets. We argue that ‘green’ monetary and fiscal policies can be used to tackle climate change and financial instability. However, their effectiveness depends crucially on the impact of cross-border financial flows and growth rate differentials on exchange rates. Without a cross-area policy coordination plan, currency fluctuations can bring about unintended consequences, undermining green policies’ effects.
    Keywords: Stock-Flow Consistent Models, Climate Change, Financial Stability
    JEL: D53 E44 F37 G17 Q54
    Date: 2019
  261. By: Torm Nina
    Abstract: In the absence of adequate institutional mechanisms, trade unions can potentially promote higher wages and other worker benefits, yet limited data availability means little is known about the effect unions have on individual earnings in developing economies.Using matched employer–employee data from 2013 and 2015 surveys, this paper examines the union wage premium among Vietnamese small and medium-sized enterprises. Controlling for firm and worker characteristics, the results show that unionized workers’ wages are 9–22 per cent higher than those of non-union workers. The wage gain is substantially larger at the upper end of the wage distribution.
    Keywords: Small and medium enterprises,Labor unions,Wages
    Date: 2018
  262. By: Pierre Schweitzer (LID2MS - Laboratoire Interdisciplinaire Droit des Médias et Mutations Sociales - AMU - Aix Marseille Université)
    Abstract: Il est devenu de bon ton de réclamer des entreprises toutes sortes de missions sans rapport avec leur objet principal. C'est particulièrement vrai pour les entreprises que l'on qualifie de GAFA (Google, Apple, Facebook, Amazon) dont beaucoup semblent attendre une responsabilité culturelle à la hauteur de leur influence. L'auteur commence par s'interroger sur la pertinence de l'acronyme GAFA, puis se demande quel peut-être la signification d'une responsabilité culturelle, et surtout si de grandes entreprises du numérique ont vocation à l'assumer, ou si comme le disait l'économiste Milton Friedman "la responsabilité sociale de l'entreprise est de faire du profit."
    Date: 2018–06
  263. By: Gradín Carlos
    Abstract: In this paper, I quantify the contribution of a subpopulation to inequality. This is defined as the sum of the contributions of its members, with these contributions computed as the impact on inequality of a small increase in the population mass at each point of the distribution (using the Recentered Influence Function).The decomposition is shown to verify various attractive properties. I also discuss alternative approaches used in the literature of factor inequality decompositions. I show that the RIF and the marginal and Shapley factor contributions are approximately equal in the case of the Mean Log Deviation, the index with the best additive decomposability properties, when the same normalization is used. In an empirical illustration, I use the approach to identify how the richest, highly educated, and urban population has disproportionally contributed to high and increasing inequality in Mozambique in recent years.
    Keywords: Decomposition,Inequality,marginal,RIF,Shapley
    Date: 2018
  264. By: Dean Hyslop; Amy Rice; Hayden Skilling (Reserve Bank of New Zealand)
    Abstract: In this paper we document longer-term trends in the New Zealand labour market using unit-record data from the Household Labour Force Survey (HLFS) and HLFS-Income Supplement. We focus on analysing the factors behind the large increases in labour force participation over 1986-2017, as well as on decomposing wage growth into contributions from continuing workers versus compositional effects associated with flows into and out of employment. New Zealand’s aggregate labour force participation rate has steadily trended up since 1993, despite an aging population. The dampening effect from population aging has been more than offset by increasing participation among older workers, with the participation rate of those aged 55 and over increasing from around 20 percent to 50 percent. We find that increased participation among prime-age females also contributed significantly to the increase in aggregate labour force participation. Further, rising levels of education over time are estimated to have boosted participation across demographics. Inflation adjusted wages grew by about 1.5 percent annually on average over the period from 1997 to 2015. Net employment growth over the period has tended to restrict average wage growth. Average wage growth has been lower since 2008 than before, suggesting weaker economy-wide wage pressure. This is mainly due to lower wage growth among continuing workers rather than compositional changes in employment, perhaps due to firms cutting costs and loss of worker bargaining power.
    Date: 2019–05
  265. By: Henstridge Mark
    Abstract: A significant natural resource discovery creates excited popular expectations of imminent wealth. But the size of a boom is usually overestimated and the delay in receiving revenues is underestimated.This paper takes stock of the sequencing, timing, and scale of the development of a natural resource endowment; reviews the ‘resource curse’ literature; looks at benchmarks of scale and timing so as to put potential booms into the context of the challenges of growth and structural change in Africa; and, finally, gathers together observations on policy and institutional changes.
    Keywords: Macroeconomics,Resource curse,Boom,Developing countries,Institutions,Natural resources
    Date: 2018
  266. By: Martin Paldam (Department of Economics and Business Economics, University of Aarhus)
    Abstract: The cross-country data for honesty/corruption and income has a correlation of about 0.75, and the data have a typical transition path; but the correlation of the growth rate and honesty is negative. Thus, the short and long-run findings are contradictory, and it is shown that the contradiction lasts a dozen years. The transition of corruption happens relatively late and works through changes in institutions. To catch all institutions the Polity-index is used for the political dimension and the Fraser-index of economic freedom for the economic one. The two indices explain as much as income, but they both have a transition, so the relations are partly spurious. To identify the non-spurious part of the relation and sort out causality, the D-index is defined as the difference between the corruption index and the transition path. Institutional instability increases corruption, but when institutions stabilize, both democracy and economic freedom increase honesty.
    Keywords: Corruption, cross-country, income vs institutions
    JEL: D73 K42 P48
    Date: 2019–05–15
  267. By: Roberto Álvarez; Aldo González; Sebastian Fernández
    Abstract: This paper studies the effect of the entry of branded generic medications — representing 47 molecules — between January 2002 and July 2017 in the Chilean retail pharmaceutical market. Using a differences-in-differences approach, we measure the impact on prices and quantities on the market after the entry of branded generic pharmaceuticals, following the patent expiration of innovator drugs. The results show that in a period of 48 months from the first entry, the quantities sold in the retail market increased by 148.1%. This is explained by the lower prices of the branded generics, as the gross average price is 33% cheaper than the innovator alternatives. Finally, no statistically significant effect is observed on prices and quantities for innovators, suggesting that the segmented market theory might apply to the Chilean pharmaceutical market.
    Date: 2019–05
  268. By: Razvan-Gabriel Hapau (Academy of Economic Studies, Bucharest)
    Abstract: This paper aims to investigate the influence of capital structure on the financial performance of microfinance institutions (MFIs) using a sample of 89 institutions from 35 countries using the data provided by the MIX Market platform for the year 2015.In order to do that, the paper focus on two main objectives: the first one is to evaluate the financial performance of microfinance institutions using a synthetic measure-composite index based on principal component analysis using several financial indicators and the second one is to assess the impact of capital structure on the MFIsfinancial performance composite index using regression techniques, taking into account three proxies for capital structure(capital to asset ratio, debt to equity ratio, deposits to total assets) and controlling for a variety of MFI-specific variables.Theempirical results pointed out two important factors for the financial performance of MFIs: profit margin and yield on gross loan portfolio. Based on the results of the composite index, Mexico, Azerbaijan, Bolivia, Nepal, Romania, Moldova, Egypt, Armenia and Bolivia are considered to be poles of microfinance performance. In Romania, the best performances were recorded by Express Finance, while at the opposite side there are OMRO and Pro-Credit, which performed poorly.Analysing the influence of capital structure on the financial performance of MFIs, a significant and positive impact have been highlighted by the capital to asset ratio, while for the other two proxies any influence has been refuted. Therefore, a higher ratio of capital to total assets is positively associated with a higher MFIs financial performance.
    Keywords: microfinance institutions, capital structure, financial performance, principal component analysis, regression analysis
    JEL: G21 G32 G10 G15 C38 C40
    Date: 2018–05
  269. By: Eduardo Perez (Département d'économie); Vasiliki Skreta (University of Texas at Austin)
    Abstract: We characterize a receiver-optimal test when manipulations are possible in the form of type falsification. Optimal design exploits the following manipulator trade-off: while falsification may lead to better grades, it devalues their meaning. We show that optimal tests can be derived among falsification-proof ones. Our optimal test has a single ‘failing’ grade, and a continuum of ‘passing’ grades. It makes the manipulator indifferent across all moderate levels of falsification. Good types never fail, but bad types may pass. An optimal test delivers at least half of the full-information value to the receiver. A three-grade optimal test also performs well.
    Keywords: Information Design; Falsification; Tests; Manipulation; Cheating; Persuasion
    JEL: C72 D82
    Date: 2018–05
  270. By: Eduardo Perez (Département d'économie); Vasiliki Skreta (University of Texas at Austin)
    Abstract: We characterize a receiver-optimal test when manipulations are possible in the form of type falsification. Optimal design exploits the following manipulator trade-off: while falsification may lead to better grades, it devalues their meaning. We show that optimal tests can be derived among falsification-proof ones. Our optimal test has a single ‘failing’ grade, and a continuum of ‘passing’ grades. It makes the manipulator indifferent across all moderate levels of falsification. Good types never fail, but bad types may pass. An optimal test delivers at least half of the full-information value to the receiver. A three-grade optimal test also performs well.
    Keywords: Information Design; Falsification; Tests; Manipulation; Cheating; Persuasion
    JEL: C72 D82
    Date: 2018–05
  271. By: Thiep Do; Nhung Thi
    Abstract: This paper aims to evaluate the impact of accessing agricultural extension on households’ agricultural profit. Results from pooled cross-sectional data show that each additional time of access is associated with a 15.5 per cent increase in agricultural profit.However, this relation is not linear and if it exceeds 6 times, it will eventually cause more harm than good. We also construct a household and time-fixed effect model to eliminate the effect of unobserved factors.The local extension service impact on agricultural profit is 15.2 per cent for 2010–12; 19.8 per cent for 2012–14 and 25.5 per cent for 2014–16.
    Keywords: Agriculture,Agricultural extension,Fixed effects
    Date: 2018
  272. By: Fr\'ed\'eric Bucci; Iacopo Mastromatteo; Michael Benzaquen; Jean-Philippe Bouchaud
    Abstract: The notion of market impact is subtle and sometimes misinterpreted. Here we argue that impact should not be misconstrued as volatility. In particular, the so-called ``square-root impact law'', which states that impact grows as the square-root of traded volume, has nothing to do with price diffusion, i.e. that typical price changes grow as the square-root of time. We rationalise empirical findings on impact and volatility by introducing a simple scaling argument and confronting it to data.
    Date: 2019–05
  273. By: Annie Liang (Department of Economics, University of Pennsylvania); Xiaosheng Mu (Columbia University); Vasilis Syrgkanis (Microsoft Corporation - Microsoft Research New England)
    Abstract: An agent has access to multiple data sources, each of which provides information about a different attribute of an unknown state. Information is acquired continuously where the agent chooses both which sources to sample from, and also how to allocate resources across them until an endogenously chosen time. We show that the optimal information acquisition strategy proceeds in stages, where resource allocation is constant over a fixed set of providers during each stage, and at each subsequent stage a new provider is added to the set. We additionally apply this characterization to derive results regarding: (1) equilibrium information provision by competing data providers, and (2) endogenous information acquisition in a binary choice problem.
    Date: 2019–04–15
  274. By: Majah-Leah V. Ravago (Department of Economics, Ateneo de Manila University); Arlan Zandro I. Brucal (Grantham Research Institute on Climate Change and the Environment, The London School of Economics and Political Science,); James Roumasset (University of Hawaii at Manoa); Jan Carlo Punongbayan (University of the Philippines)
    Abstract: The Philippines provides an extreme example of Rodrik’s observation that late developing countries experience deindustrialization at lower levels of per capita income than more advanced economies. Previous studies point to the role of protectionist policies, financial crises, and currency overvaluation as explanations for the shrinking share of the industry sector. We complement this literature by examining the role of electricity prices in the trajectory of industry share. We make use of data at the country level for 33 countries over the period 1980-2014 and at the Philippine regional level for 16 regions over the period 1990-2014. We find that higher electricity prices tend to amplify deindustrialization, causing industry share to turn downward at a lower peak and a lower per capita income, and to decline more steeply than otherwise. In a two-country comparison, we find that power-intensive manufacturing subsectors have expanded more rapidly in Indonesia, where electricity prices have been low, whereas Philippine manufacturing has shifted toward less power intensive and more labor-intensive subsectors in the face of high electricity prices.
    Keywords: electricity prices, structural transformation, deindustrialization
    JEL: O10 O14 Q40 Q41
    Date: 2019–02
  275. By: Feldhaus, Christoph; Gleue, Marvin; Löschel, Andreas
    Abstract: We conduct a field experiment with the visitors of the German Catholic Convention in Münster, Germany. We aim at investigating the effect of the announced attitude of a Catholic institution concerning climate protection efforts, of people's experimentally induced religiosity (using a priming intervention) and of the corresponding interaction on people's willingness to donate to a carbon-offsetting fund. Our results suggest that the supporting signal by the Catholic institution substantially increases donations by about 56 %. We observe neither a direct effect of the induced religiosity nor an interaction with the institution's signal. Our results thus indicate that religious authorities can promote sustainable behavior. As we observe no evidence that the signalmainly influences particularly religious people, we further conclude that religious institutions may serve as more general authorities when it comes to sustainable behavior rather than solely as leaders of those aiming to follow religious prescripts.
    Keywords: Sustainable behavior,Field experiment,Religiosity,Priming,Carbon offsets
    JEL: C93 D64 D91 Q56 Z12
    Date: 2019
  276. By: Corinne Bieder (ENAC - Ecole Nationale de l'Aviation Civile)
    Abstract: Training has always been an obvious response to any operational issue and safety issues are no exception. Further to an accident, training, and more specifically safety training, almost always forms part of the recommendations. More than that, safety training has always been considered by many as one of the major pillars for ensuring the safety of hazardous activities. This is the case in regulatory requirements as well as in many internal safety policies. Although this seems to make sense intuitively, intuition is not always of sound advice when it comes to safety. In reality, safety training conveys a number of implicit assumptions as to what contributes to making the operation of an organization safe. These assumptions, once made explicit, become debatable. However, unravelling them makes it possible to examine potential ways forward to reach beyond what seems to be the current safety training escalation dead-end.
    Keywords: Work practices,Regulatory requirements,Compliance,Safety performance
    Date: 2018–01–01
  277. By: T. Tony Ke; Wenpin Tang; J. Miguel Villas-Boas; Yuming Zhang
    Abstract: We consider an optimal stopping problem of a $d$-dimensional Brownian motion, where the payoff at stopping is the maximum component of the Brownian motion, and there is a running cost before stopping. Applications include choosing one among several alternatives while learning simultaneously about all the alternatives (parallel search), and exercising an option based on several assets. We present necessary and sufficient conditions for the solution, establishing existence and uniqueness. We show that the free boundary is star-shaped, and present asymptotic characterization of the value function and the free boundary. We also show properties of how the distance between the free boundary and the diagonal varies with the number of alternatives.
    Date: 2019–05
  278. By: Jiti Gao; Guangming Pan; Yanrong Yang; Bo Zhang
    Abstract: Accurate estimation for extent of cross-sectional dependence in large panel data analysis is paramount to further statistical analysis on the data under study. Grouping more data with weak relations (cross-sectional dependence) together often results in less efficient dimension reduction and worse forecasting. This paper describes cross-sectional dependence among a large number of objects (time series) via a factor model and parametrizes its extent in terms of strength of factor loadings. A new joint estimation method, benefiting from unique feature of dimension reduction for high dimensional time series, is proposed for the parameter representing the extent and some other parameters involved in the estimation procedure. Moreover, a joint asymptotic distribution for a pair of estimators is established. Simulations illustrate the effectiveness of the proposed estimation method in the finite sample performance. Applications in cross-country macro-variables and stock returns from S&P 500 are studied.
    Keywords: Cross-sectional dependence, factor model, joint estimation, large panel data analysis, marginal estimation.
    JEL: C21 C32
    Date: 2019
  279. By: Jeanne Hagenbach (Département d'économie); Frédéric Koessler (Ecole d'Économie de Paris - Paris School of Economics (PSE))
    Abstract: This paper proposes an equilibrium concept, Language-Based Expectation Equilibrium, which accounts for partial language understanding in sender-receiver cheap talk games. Each player is endowed with a privately known language competence which represents all the messages that he understands. For the messages he does not understand, he has correct but only coarse expectations about the equilibrium strategies of the other player. In general, a language-based expectation equilibrium outcome differs from Nash and communication equilibrium outcomes, but is always a Bayesian solution. Partial language competence of the sender rationalizes information transmission and lies in pure persuasion problems, and facilitates information transmission from a moderately biased sender.
    Keywords: Analogy-based expectations; Bayesian solution; Bounded rationality, cheap talk; Language; Pure persuasion; Strategic information transmission
    JEL: C72 D82
    Date: 2019–01
  280. By: Jeanne Hagenbach (Département d'économie); Frédéric Koessler (Ecole d'Économie de Paris - Paris School of Economics (PSE))
    Abstract: This paper proposes an equilibrium concept, Language-Based Expectation Equilibrium, which accounts for partial language understanding in sender-receiver cheap talk games. Each player is endowed with a privately known language competence which represents all the messages that he understands. For the messages he does not understand, he has correct but only coarse expectations about the equilibrium strategies of the other player. In general, a language-based expectation equilibrium outcome differs from Nash and communication equilibrium outcomes, but is always a Bayesian solution. Partial language competence of the sender rationalizes information transmission and lies in pure persuasion problems, and facilitates information transmission from a moderately biased sender.
    Keywords: Analogy-based expectations; Bayesian solution; Bounded rationality, cheap talk; Language; Pure persuasion; Strategic information transmission
    JEL: C72 D82
    Date: 2019–01
  281. By: Soares, Ana Cristina
    Abstract: Using firm-level data between 2004 and 2012 for eleven countries of the European Union (EU), we document the size of product and labour market imperfections within narrowly defined sectors including services which are virtually undocumented. Our findings suggest that perfect competition in both product and labour markets is widely rejected. Levels of the price-cost margin and union bargaining power tend to be higher in some service sectors depicting however substantial heterogeneity. Dispersion within sector and across countries tends to be higher in some services sectors assuming a less tradable nature which suggests that the Single Market integration is partial particularly relaxing the assumption of perfect competition in the labour market. We report also figures for the aggregate economy and show that Eastern countries tend to depict lower product and labour market imperfections compared to other countries in the EU. Also, we provide evidence in favour of a very limited adjustment of both product and labour market imperfections following the international and financial crisis.
    Keywords: market imperfection,market structure,nash bargaining,European Union
    JEL: D40 J50 L10
    Date: 2019
  282. By: Gnangnon, Sena Kimm
    Abstract: This article introduces a quantitative measure of trade policy space at the national level, and investigates empirically whether it influences foreign direct investment (FDI) flows to countries. The empirical analysis covers an unbalanced panel dataset of 158 countries (both developed and developing countries), over the period 1995-2015, and uses the two-step system Generalized Methods of Moments (GMM) approach. Results suggest that the impact of trade policy space on FDI inflows is positive and increases as countries enjoy greater trade policy space. Furthermore, advanced economies tend to experience a higher positive impact of trade policy space on FDI inflows than less advanced economies. Overall, trade policy space matters significantly for countries' FDI inflows.
    Keywords: Trade policy space,FDI inflows
    Date: 2019
  283. By: Alexander Ahammer
    Abstract: In the United States, 115 people die each day due to overdose, and a third of overdoses involve the concurrent use of opioids and a class of sedatives called benzodiazepines. Facing a similar problem in 2012, Austria responded by installing public health officers (PHOs) as third-party institutions overseeing prescriptions of the most potent and commonly abused benzodiazepine, flunitrazepam. Since December 15, 2012, every single flunitrazepam prescription must be authorized and countersigned by a PHO, prescriptions were restricted to a month’s supply of the drug, and doses must be dispensed daily, under supervision, in a pharmacy. I identify a sample of opioids addicts in administrative social security data and study their response to this reform. Event studies suggest a persistent decline in flunitrazepam prescriptions but substitution to less potent benzodiazepines following the reform. To examine subsequent health, labor market, and drug abuse-related outcomes, I additionally exploit regional variation in PHO strictness affecting the likelihood that addicts opt to quit the drug due to the reform. I find that addicts who quit after encountering a strict PHO have better health and labor market outcomes, have fewer opioid overdoses, and are less likely to take antidepressants or weak opioids. I discuss how these findings translate to the US setting, and whether a similar policy can help curb its opioid epidemic.
    Keywords: Opioid epidemic, addictive drugs, supply-control, prescription regulations
    JEL: I18 I12 H12
    Date: 2019–04
  284. By: Timmer Peter
    Abstract: This chapter addresses the unrelenting pessimism in Asian Drama about Indonesia’s development prospects. This pessimism was based on two key realities: the poor level of governance demonstrated by the Sukarno regime (partly a heritage of Dutch colonial policies) and the extreme poverty witnessed in rural areas.Using historical and modern data on the Indonesian economy, the chapter explains the policy approach that resulted in three decades of rapid, pro-poor growth during the Suharto regime.The Asian financial crisis in 1998 caused the Suharto regime to fall and introduced democratically elected governments. After a decade of stagnation, economic growth returned to the rapid rate seen during the first three decades of the Suharto regime, but it is no longer pro-poor.Â
    Keywords: Governance,Growth,Gunnar Myrdal,Pro-poor,Poverty
    Date: 2018
  285. By: McMahon, James
    Abstract: From the 1980s to the present, Hollywood's major distributors have been able to redistribute U.S. theatrical attendance to the advantage of their biggest blockbusters and franchises. At the global scale and during the same period, Hollywood has been leveraging U.S. foreign power to break ground in countries that have historically protected and supported their domestic film culture. For example, Hollywood's major distributors have increased their power in such countries as Mexico, Canada, Australia and South Korea (Jin, 2011). This paper will analyze a pertinent 'test case' for Hollywood's global power: China and its film market. Not only does China have a film-quota policy that restricts the number of theatrical releases that have a foreign distributor (~ 20 to 34 films per year), the Communist Party has also nurtured a Chinese film business that has steady film releases and its own movie star system. Theoretically, China would be a prime example of a film market that would need to be opened with the assistance of the U.S. government. Empirically, however, the case of Chinese cinema might be a curious exception; we can investigate how a political economic strategy rooted in explicit power is reaching a limit. Hollywood is, potentially without any other option, taking a more friendly, collaborative approach with China's censorship rules and its quota and film-production laws.
    Keywords: China,cinema,Hollywood,power,international trade,United States
    Date: 2019
  286. By: Steckenleiter, Carina; Lechner, Michael; Pawlowski, Tim; Schüttoff, Ute
    Abstract: This paper analyzes the effect of local public expenditures on sports facilities on sports participation in Germany. To this end, we construct a new database containing public expenditures at the municipality level and link this information with individual level data. We form locally weighted averages of expenditures based on geographic distances since people also benefit from expenditures of neighboring municipalities. We analyze how effects of sports facility expenditures change with different expenditures levels (“dose-response relationship”) and find no effect of local public expenditures on sports facilities on the probability to practice sports. These findings are robust across different age groups and municipality sizes.
    Keywords: Sports, local public sports expenditure, continuous treatment, treatment effects doseresponse surface, semiparametric estimation
    JEL: H72 H75 C21
    Date: 2019–04
  287. By: Francesco Scervini (Department of Economics, University of Pavia); Serena Trucchi (Department of Economics, University Of Venice Cà Foscari)
    Abstract: This paper examines the interaction between altruism towards offspring and precautionary savings. It investigates whether increased uncertainty in children labor income fosters savings of parents. We first construct a two-periods and two-generations model, to underline which are the mechanisms behind the intergenerational precautionary motive for savings. Second, we exploit two micro datasets to test the main theoretical implications. Parents’ consumption turns out to respond to the offspring’s income risk. This result is robust to the presence of family fixed effects and to many alternative empirical specifications.
    Keywords: Precautionary savings, consumption, income risk, offspring
    JEL: D13 C23
    Date: 2019
  288. By: Pierre Henry-Labordère (Societe Generale - Société Générale)
    Abstract: In this paper, we introduce a primal-dual algorithm for solving (martingale) optimal transportation problems, with cost functions satisfying the twist condition, close to the one that has been used recently for training generative adversarial networks. As some additional applications, we consider anomaly detection and automatic generation of financial data.
    Date: 2019–04–10
  289. By: Fuentes-Doria, Deivi D.; García-Alarcón, Héctor A.; Toscano-Hernández, Aníbal E.
    Abstract: El objetivo de esta investigación fue identificar las razones por las cuales las pequeñas y medianas empresas (en adelante PyMEs) de la ciudad de Montería, registran retrasos en la implementación de las Normas Internacionales de Información Financiera (en adelante NIIF). En concreto, los indicadores evaluados en este trabajo se concentraron en: 1) la identificación de las empresas que han realizado procesos de adopción de NIIF; 2) las dificultades en la construcción del estado financiero de apertura (en adelante ESFA); y 3) los mayores problemas relacionados con el conocimiento de las normas, recursos económicos y tecnológicos. Se utilizó una metodología de carácter descriptivo y no experimental de campo a partir de la aplicación de una encuesta estructurada a una muestra de 36 PyMEs de la ciudad de Montería (Colombia). Los hallazgos reflejan que el 44% de las empresas han iniciado el proceso de adopción de NIIF y solo un 5% han presentado informes de acuerdo a los estándares internacionales. El 39% promedio restante se encuentra en proceso de revisión de saldos, auditoria de cuenta y procesos de capacitación. En definitiva, se evidencia que los principales factores que inciden negativamente en los procesos de implementación de NIIF son: 1) desconocimiento de las normas contables, 2) bajo nivel en los procesos de capacitación profesional por parte de las empresas, y 3) dificultades en los recursos tecnológicos y económicos.
    Keywords: Normas Contables; Pequeñas y Medianas Empresas; Colombia;
    Date: 2018
  290. By: Falvey, Rod (; Foster-McGregor, Neil (UNU-MERIT)
    Abstract: We use recently available data on the core economic provisions of PTAs to identify which (types of) provisions seem to promote bilateral exports and the intensive and extensive margins of exports. Our evidence suggests that measures applied at the border tend to be aimed at expanding existing trade, while measures applied behind the border are aimed at creating trade in new products. Preferential measures tended to increase bilateral total exports and bilateral exports at the intensive margin, but have no significant effect on bilateral exports at the extensive margin. Measures applied on an MFN basis are unlikely to provide improved market access for PTA partners. When includeds individually we find that no provision has a statistically significant effect of the same sign on both trade margins, confirming the view that existing and potential exporters have opposing interests in PTA formation. Finally, we provide estimated effects for selected PTAs.
    Keywords: PTA Breadth, Trade Margins, Gravity Equation
    JEL: F10 F15
    Date: 2019–04–15
  291. By: Alessandra, Garbero; Martina, Improta; Sónia, Gonçalves
    Abstract: Despite the progress made over the last decades across several socio-economic indicators, poverty incidence remains persistently high in São Tomé e Príncipe, with over two-thirds of the population living below the poverty line of US$3.2 (World Bank 2018). A set of constraints imposed by the country’s insularity, small market size and agroecological conditions make the country extremely vulnerable to market and climate shocks. Its economy relies heavily on imports, which are counterbalanced by a narrow set of exports, with cacao taking the lion share (approximately 70% of total exports, World Bank 2018). Agricultural production, however, has declined since the country’s independence in 1975 and productivity has remained consistently low, hindering economic wellbeing and progress of rural livelihoods, particularly of those relying on small-scale farming as a key source of income. The two projects evaluated in this report - the Participatory Smallholder Agriculture and Artisanal Fisheries Development Programme (PAPAFPA; implemented 2003-15) and, its successor, the Smallholder Commercial Agriculture Project (PAPAC; 2015-2020) – focus on this group of farmers and on three value chains: cacao, coffee and pepper. The projects interventions revolve around the promotion of certified organic farming and the creation of export-oriented cooperatives in each value chain, together with the investment in rural infrastructure. The projects’ cooperatives play a key role in the implementation of the interventions in the field, by working closely with the farmers and their associations, providing professional training, productive assets and facilitating linkages to the market. The interventions aim at increasing agricultural production in a sustainable manner via organic farming, enhancing market access and resilience to shocks, thereby promoting small farmers’ income stability and food security. Organic certification labels have been increasingly used across the world to pursue social and environmental sustainability in supply chains for agricultural products. However, there is still considerable debate surrounding their effectiveness in achieving those goals. Robust quantitative evidence of their impact on crop prices, productivity and overall welfare of rural livelihoods is scarce, and for São Tomé e Príncipe inexistent. Thus, the current impact assessment fills a gap in this literature by using a mixed-methods approach to assess and quantitatively estimate the impact of a project centred around certification schemes through rigorous counterfactual-based methods. Given the fundamental role played by the value-chain cooperatives in the project, it also contributes to a growing literature on the impact of associativism and cooperativism on the economic mobility of farmers and rural households.
    Keywords: Agricultural Finance, Community/Rural/Urban Development
    Date: 2019
  292. By: Bergh, Andreas (Research Institute of Industrial Economics (IFN)); Bjørnskov, Christian (Aarhus University)
    Abstract: While the association between economic freedom and long-run economic growth is well documented, the parallel research literature on the distributional consequences of economic freedom is full of conflicting findings. In this paper, we take a step towards reconciling the two literatures by exploring the within-quintile growth consequences of changes in three different types of economic freedom: the size of government, institutional quality and policy quality. While the associations are theoretically ambiguous, we find evidence that economic freedom affects all parts of the income distribution equally, and some indications that the growth effects are largest for the poorest and richest quintiles.
    Keywords: Economic freedom; Liberalization; Economic growth; Income inequality
    JEL: O40 O43 P16
    Date: 2019–05–02
  293. By: S\"oren Christensen; Luis H. R. Alvarez E
    Abstract: According to conventional wisdom, ambiguity accelerates optimal timing by decreasing the value of waiting in comparison with the unambiguous benchmark case. We study this mechanism in a multidimensional setting and show that in a multifactor model ambiguity does not only influence the rate at which the underlying processes are expected to grow, it also affects the rate at which the problem is discounted. This mechanism where nature also selects the rate at which the problem is discounted cannot appear in a one-dimensional setting and as such we identify an indirect way of how ambiguity affects optimal timing.
    Date: 2019–05
  294. By: Ciprian Nicolae (Acamedy of Economics Studies, Bucharest)
    Abstract: For the public authorities and institutions in Romania, risk management is an obligation established by the regulations on internal managerial control. Therefore, any changes to these regulations have an impact on the consistency and sustainability of the risk management measures implemented, including in the case of non-reimbursable financing programs.This paper analysesthe provisions of the internal managerial control regulations in view of the impact they may have on the implementation of a unitary risk management methodology for all non-reimbursable funds in Romania.The proposed methodology would apply to all non-reimbursable grants in Romania, both nationally and from international donors (the European Union, the Governments of Norway, Iceland and Liechtenstein, etc.), as the logic of non-reimbursable funding is the same for all funding programs.The proposed methodology also aims at computerizing the risk management process based on a unique risk register and rigorous organization of information collection and use of the risks, causes and effects.
    Keywords: risk, risk management, non-reimbursable financing, projects, managerial internal control
    JEL: G32 H83
    Date: 2018–11
  295. By: Di Bucchianico, Stefano (Roma Tre University)
    Abstract: The present work, by making use of the ‘integrated wage-goods sector’ methodology proposed by Gareg-nani, investigates some channels through which financialization may impact the normal rate of profit. We analyze the effect of a higher profit share in the financial sector, the technical innovations in the financial sector and rising household indebtedness. We find that none of them influences normal profitability, with the exception of one type of technical innovation. We subsequently critically discuss some Marxian strands of analysis that describe financialization as a temporary countertendency to supposed falling gen-eral profitability. We argue in favor of a separate analysis between growth caused by private borrowing and the study of a normal distribution. Finally, a recent attempt to read the ‘sixth’ countertendency to the falling rate of profit listed by Marx as an anticipation of the phenomenon of financialization is criticized, proposing an alternative interpretation.
    Keywords: falling profitability; financialization; financial crisis; rate of profit
    JEL: B14 B51 P12
    Date: 2019–05–08
  296. By: Creane, Anthony
    Abstract: Production runs suffer from inadvertent quality variation. There are good apples; there are bad apples (also known as “seconds”). The Alchian-Allen theorem states that a common perunit charge on two goods differentiated only by quality, increases the relative export demand for the higher quality good leading to local consumers lamenting that they cannot find them locally. While usually stated for competitive markets, firms with market power also suffer from inadvertent seconds in their production. For example, brand-name retailers send their seconds to outlets, even though this undercuts the demand for their firsts. A model is presented of oligopolistic firms choosing production and what fraction of their first and seconds to export: a model of “shipping the good apples” with strategic competition. In this model an increase in the per-unit charge can increase the absolute fraction of high quality exported. Despite this, shipping the good apples may not hold, that is, an increase in the per-unit charge can decrease the quantity demanded of good apples relative to bad ones. Rather, shipping the good apples holds when the export market’s willingness-to-pay for high quality is greater (or greater value for “quality upgrading” (Johnson and Myatt, 2006)). Despite the consumers’ lament, domestic consumer welfare increases with exporting
    Keywords: Market power, Cournot, quality, trade
    JEL: D43 F12 L2
    Date: 2019–05
  297. By: Søren Kjærgaard (University of Southern Denmark); Yunus Emre Ergemen (University of Aarhus and CREATES); Malene Kallestrup-Lamb (University of Aarhus and CREATES); Jim Oeppen (University of Southern Denmark); Rune Lindahl-Jacobsen (University of Southern Denmark)
    Abstract: Cause-specific mortality forecasting is often based on predicting cause-specific death rates independently. Only a few methods have been suggested that incorporate dependence among causes. An attractive alternative is to model and forecast cause-specific death distributions, rather than mortality rates, as dependence among the causes can be incorporated directly. We follow this idea and propose two new models which extend the current research on mortality forecasting using death distributions. We find that adding age, time, and cause-specific weights and decomposing both joint and individual variation among different causes of death increased the forecast accuracy of cancer deaths using data for French and Dutch populations
    Keywords: Cause-specific mortality, Cancer forecast, Forecasting methods, Compositional Data Analysis, Population health
    JEL: C22 C23 C53 I12
    Date: 2019–05–09
  298. By: C\'elestin Coquid\'e; Jos\'e Lages; Dima L. Shepelyansky
    Abstract: We apply the recently developed reduced Google matrix algorithm for the analysis of the OECD-WTO world network of economic activities. This approach allows to determine interdependences and interactions of economy sectors of several countries, including China, Russia and USA, properly taking into account the influence of all other world countries and their economic activities. Within this analysis we also obtain the sensitivity of economy sectors and EU countries to petroleum activity sector. We show that this approach takes into account multiplicity of network links with economy interactions between countries and activity sectors thus providing more rich information compared to the usual export-import analysis.
    Date: 2019–05
  299. By: Lombe Wilfred
    Abstract: This paper traces the role of local content in Zambia’s mining sector in supporting industrialization and economic diversification. It assesses productive linkages and manufacturing competitiveness during import-substitution industrialization and post-1991 liberalization and privatization, and the adequacy of the current policy environment.Despite diminished productivity and export competitiveness during import-substitution industrialization, that era was successful in terms of domestic manufacture of mining goods. Privatization and liberalization stymied local content capabilities, retarding industrialization and economic diversification.Post-2000 policies emphasize local content development and export competitiveness. Their success, however, depends on addressing continuing weaknesses in the regulatory environment; human and technological capital; endogenous entrepreneurship; and the macroeconomic environment.
    Keywords: Mining,Economic linkages,Local content,Manufacturing,Industrialization,Productivity
    Date: 2018
  300. By: Gu, Yan (Tilburg University, School of Economics and Management); Zheng, Yeqiu (Tilburg University, School of Economics and Management); Swerts, Marc (Tilburg University, School of Economics and Management)
    Abstract: Mandarin speakers often use gestures to represent time laterally, vertically, and sagittally. Chinese Sign Language (CSL) users also exploit signs for that purpose, and can differ from the gestures of Mandarin speakers in their choices of axes and direction of sagittal movements. The effects of sign language on co-speech gestures about time were investigated by comparing spontaneous temporal gestures of late bimodal bilinguals (Mandarin learners of CSL) and non-signing Mandarin speakers. Spontaneous gestures were elicited via a wordlist definition task. In addition to effects of temporal words on temporal gestures, results showed significant effects of sign. Compared with non-signers, late bimodal bilinguals (1) produced more sagittal but fewer lateral temporal gestures; and (2) exhibited a different temporal orientation of sagittal gestures, as they were more likely to gesture past events to their back. In conclusion, bodily experience of sign language can not only impact the nature of co-speech gestures, but also spatio-motoric thinking and abstract space-time mappings.
    Date: 2018
  301. By: Thomas, Alastair
    Abstract: This paper provides the first estimates of a Quadratic Almost Ideal Demand System (QUAIDS) for New Zealand and uses this model to investigate the distributional effects of a move to a multi-rate GST system. The estimated QUAIDS model covers nine non-durable expenditure groups and produces highly plausible expenditure and price elasticity estimates. Behavioural simulation results show that a multi-rate GST structure would, on average, benefit poorer households relative to richer households – both in terms of the tax households pay and money-metric welfare. However, around 27% of the poorest decile would lose from the reform due to their particular consumption preferences, while around 19% of the richest decile would gain. Behavioural simulation results also confirm the finding from previous non-behavioural analysis that the distributional impact of reduced GST rates can vary significantly depending on the type of expenditure subject to the reduced rate. Overall, the GST system is found to be a poor mechanism for targeting support to poorer households.
    Keywords: GST, VAT, QUAIDS, Reduced rates, Distributional effects,
    Date: 2019
  302. By: Graupe, Silja; Steffestun, Theresa
    Abstract: Das Paper analysiert den bisher kaum beachteten Gebrauch von Metaphern in ökonomischen Standardlehrbüchern am Beispiel der Lehrtexte von Paul A. Samuelson und N. Gregory Mankiw. Dabei steht die metaphorische Semantik des abstrakten Konzeptes "des Marktes" im Zentrum der Untersuchungen. Mittels textanalytischer Methoden und mit Rückgriff auf die Conceptual Metaphor Theory verfolgen die Autorinnen die Einführung des Konzeptes "der Markt" als abstraktes und weitestgehend inhaltsleeres Konzept, die (Um-)Deutungen des Konzepts mithilfe von Entitätsmetaphern, Personifizierungen und Orientierungsmetaphern und die Verbindung des Begriffes mit politisch-ideologischen Wertungen. Hauptergebnisse sind: (1) Ökonomische Standardlehrbücher weisen einen massiven und stillschweigenden Gebrauch von Metaphern auf. (2) Dieser Gebrauch kann das kognitive Unbewusste der Leser_innen beeinflussen, und (3) Reflexive ökonomische Bildung kann zu einem verantwortungsvollen Umgang mit Metaphern befähigen.
    Keywords: Metaphern,Lehrbücher,Paul A. Samuelson,N. Gregory Mankiw,Conceptual Metaphor Theory,Beeinflussung des Unbewussten,ökonomische Bildung
    JEL: A10 A11 A12 A21 B49
    Date: 2018
  303. By: Stefano Baccarin (Department of Economics and Statistics (Dipartimento di Scienze Economico-Sociali e Matematico-Statistiche), University of Torino, Italy)
    Abstract: We study a dynamic portfolio optimization problem where it is possible to invest in a risk-free bond, in a risky stock modeled by a lognormal diffusion and in call options written on the stock. The use of the options is limited to static strategies at the beginning of the investment period. The investor faces transaction costs with a fixed component and solvency constraints and the objective is to maximize the expected utility of the final wealth. We characterize the value function as a constrained viscosity solution of the associated quasi-variational inequality and we prove the local uniform convergence of a Markov chain approximation scheme to compute numerically the optimal solution. Because of transaction costs and solvency constraints the options cannot be pefectly replicated and despite the restriction to static policies our numerical results show that in most cases the investor will keep a significant part of his portfolio invested in options.
    Keywords: Dynamic Portfolio Management, Incomplete Markets, Static Use of Options, Impulse Control, Viscosity Solutions, Markov Chain Approximations.
    JEL: C61 C63 G11 G13
    Date: 2019–05
  304. By: Fernando Fernandes Neto; Claudio Garcia, Rodrigo de Losso da Silveira Bueno, Pedro Delano Cavalcanti, Alemayehu Solomon Admas
    Abstract: The aim of this paper is to discuss the use of Haar scattering networks, which is a very simple architecture that naturally supports a large number of stacked layers, yet with very few parameters, in a relatively broad set of pattern recognition problems, including regression and classification tasks. This architecture, basically, consists of stacking convolutional filters, that can be thought as a generalization of Haar wavelets, followed by nonlinear operators which aim to extract symmetries and invariances that are later fed in a classification/regression algorithm. We show that good results can be obtained with the proposed method for both kind of tasks. We outperformed the best available algorithms in 4 out of 18 important data classification problems, and obtained a more robust performance than ARIMA and ETS time series methods in regression problems for data with invariances and symmetries, with desirable features, such as possibility to evaluate parameter stability and easy structural assessment.
    Keywords: Haar Scattering Network; Pattern Recognition; Classification; Regression; Time Series.
    JEL: C38 C45 C52 C63
    Date: 2019–05–07
  305. By: Plogmann, Jana; Mußhoff, Oliver; Odening, Martin; Ritter, Matthias
    Abstract: In this paper, we apply the dynamic Gordon growth model to Western Germany and decompose the rent-price ratio into the expected present values of rental growth rates, real interest rates, and a land premium, i.e., the excess return on investment. This analysis reveals that the recent price surge on agricultural land markets was not unprecedented; that the land market rent-price ratio is rather low compared to other markets and varies considerably among federal states; and that (expected) premia for land are mostly negative, rendering investments in farmland unprofitable for financial investors. Finally, we find that changing expected present values of returns on land investments are the major driver for land price volatility.
    Keywords: Land Economics/Use
    Date: 2019–04–16
  306. By: Roux-Rosier Anahid (IRPhiL - Institut de recherches philosophiques de Lyon - UJML - Université Jean Moulin - Lyon III - Université de Lyon); Ricardo Azambuja (MC - Management et Comportement - Grenoble École de Management (GEM)); Gazi Islam (MC - Management et Comportement - Grenoble École de Management (GEM), IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc)
    Abstract: The current paper uses the concept of imaginaries to understand how permaculture provides alternative ways of organizing in response to the Anthropocene. We argue that imaginaries provide ways of organizing that combine ideas and concrete practices, imagining organizational alternatives by enacting new forms of collective practice. Permaculture movements, because of their combination of local, situated design practices and underlying social and political philosophies, provide an interesting case of imaginaries that make it possible to reimagine the relations between humans, non-human species and the natural environment. We identify and describe three imaginaries found in permaculture movements, conceiving of permaculture respectively as a technical design practice, a holistic life philosophy, and an intersectional social movement. These imaginaries open up possibilities for political and social alternatives to industrially organized agriculture, but are also at risk of various forms of ideological co-optation based on their underlying social premises. We discuss our perspective in terms of developing the concept of imaginaries in relation to organizational scholarship, particularly in contexts where fundamental relations between humans and the natural environment must be reimagined, as in the case of environmentalist organizing in response to the Anthropocene.
    Keywords: Environmental Imaginaries,Anthropocene,Permaculture,Imaginaries,Social Imaginaries,Organizing,Collective
    Date: 2018
  307. By: Thorbecke Erik
    Abstract: This paper is essentially autobiographical and describes Erik Thorbecke’s journey through the history of development economics between the 1950s and the present.The paper consists of four parts. First, an introduction reviews briefly his professional career as a development economist and his research interactions with major contributors to the discipline. The next three parts review critically his contributions to research on and training in, respectively, (i) the ongoing process of African development; (ii) income distribution, inequality, and poverty; and (iii) economic structure, interdependence, and quantitative development analysis.
    Keywords: Development doctrine,Economic structure,Inequality,Poverty
    Date: 2018
  308. By: Maria Kravtsova (National Research University Higher School of Economics); Aleksey Oshchepkov
    Abstract: Economists tend to reduce all corruption to impersonal market-like transactions, ignoring the role of social ties in shaping corruption. In this paper, we show that this simplification substantially limits the understanding of corruption. We distinguish between market corruption (impersonal bribery), and network (or parochial) corruption which is conditional on the social connections between bureaucrats and private agents. We argue, both theoretically and empirically, that these types of corruption have different qualities. Using data from the Life in Transition Survey (LiTS) which covers all post-socialist countries we show, first, that the correlation between market and network corruption is weak, which implies that ignoring network corruption leads not only to an underestimation of the overall scale of corruption but also biases national corruption rankings. Secondly, in line with theoretical expectations, we find that network corruption is more persistent over time, less related to contemporary national socio-economic and institutional characteristics and has stronger historical roots than market corruption. Yet, network corruption, unlike bribery, is not able to ‘grease the wheels’ and is not associated with political instability. Lastly, we show that the decline in bribery which was observed in almost all post-socialist countries in the period from 2010 to 2016 was accompanied by rising network corruption in many of them, which has important policy implications.
    Keywords: market corruption, parochial corruption, network corruption, blat, bribery, postsocialist countries
    JEL: D73 Z13 L26
    Date: 2019–02
  309. By: Carlsson, Fredrik (Department of Economics, School of Business, Economics and Law, Göteborg University); Jacobsson, Gunnar (Center for Antibiotic Resistance Research (CARe), University of Gothenburg, Gothenburg, Sweden); Jagers, Sverker C. (Centre for Collective Action Research (CeCAR), University of Gothenburg, Gothenburg, Sweden); Lampi, Elina (Department of Economics, School of Business, Economics and Law, Göteborg University); Robertsson, Felicia (Center for Antibiotic Resistance Research (CARe), University of Gothenburg, Gothenburg, Sweden); Rönnerstrand, Björn (Center for Antibiotic Resistance Research (CARe), University of Gothenburg, Gothenburg, Sweden)
    Abstract: This paper deals with the collective action dilemma of antibiotic resistance. Despite the collective threat posed by antibiotic resistance, there are limited incentives for individuals to consider the contribution of their decisions to use antibiotics to the spread of resistance. Drawing on a novel survey of Swedish citizens (n=1,906), we study factors linked to i) willingness to accept a physician’s decision not to prescribe antibiotics and ii) willingness to limit personal use of antibiotics voluntary. In our study, 53 percent of the respondents stated that they would be willing to accept the physician’s decision despite disagreeing with it, and trust in the healthcare sector is significantly associated with acceptance. When it comes to people’s willingness to voluntarily abstain from using antibiotics, a majority stated that they are willing or very willing not to take antibiotics. The variation in willingness is best explained by concerns about antibiotic resistance and experience of antibiotic therapy, especially if a respondent has been denied antibiotics. Generalized trust seems to be unrelated to willingness to abstain, but the perception that other people limit their personal use of antibiotics is linked to respondents’ own willingness to do so. Few of the individual characteristics can explain the variation in that decision.
    Keywords: collective action; antibiotics use; antibiotic resistance; willingness to abstain
    JEL: D90 I12
    Date: 2019–05
  310. By: Alessandra, Garbero; Tisorn, Songsermsawas
    Abstract: Improving market access of smallholder farmers in the developing world is considered an important approach to moving them out of poverty and increasing their economic mobility. In China, rural poverty has declined at a phenomenal speed within just two decades, and much of this success story is attributable to rapid income growth in rural areas. Thus, having a good understanding of how development efforts in rural China may help alleviate poverty and improving economic mobility is of particular interest for policy, as they are instrumental in informing future project design and scaling-up of success stories to other regions in China as well as to other countries. The Guangxi Integrated Agricultural Development Project (GIADP) is an example of a development effort aimed at increasing rural household income in China through three project components: community infrastructure development, agricultural production and marketing support, and rural environmental improvement. The project was approved by the Executive Board of the International Fund for Agricultural Development (IFAD) in December 2011, entered into effect in January 2012, and ran until March 2017. Interventions delivered covered three main components: community infrastructure improvements, agricultural production and marketing support, and interventions aimed at preserving the rural environment.
    Keywords: Agribusiness, Farm Management, Food Security and Poverty
    Date: 2018
  311. By: Adrián Rodrí­guez Miranda (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economí­a); Pablo Galasso (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economí­a); Pedro Argumedo (Fundación Salvadoreña para el Desarrollo (El Salvador)); Sebastián Goinheix (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economí­a); Camilo Martí­nez (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economí­a); Fernando Masi (Centro de Análisis y Difusión de la Economí­a Paraguaya (Paraguay)); Santiago Picasso (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economí­a); Ignacio Rodrí­guez (Universidad de la Frontera (Chile)); Paulina Sanhuezad (Universidad de la Frontera (Chile)); Belén Servin (Centro de Análisis y Difusión de la Economí­a Paraguaya (Paraguay))
    Abstract: This research has two aims. First, it characterizes regional development in the four selected countries. Second, it analyzes cooperation networks between firms and organizations, in 24 clusters in different regions of the four countries. Regarding the first aim, the work analyzes in each region the generation of wealth, the development of small business sector and socioeconomic conditions of the environment, complemented by the identification of the productive specializations in each region. Results show that economic development is not evenly distributed in the territory. Certain sub-national patterns in terms of economic development were found. In addition, there is a strong concentration of economic activity in the regions where the national capitals are located (except for the regions rich in mining or energy resources). The analysis of local business development and the socioeconomic environment shows that, in addition to external factors, a region must develop its own local capacities to take advantage of these external impulses and transform them into local development. Regarding the second objective, the study of 24 cooperation networks in clusters proves that organizations are the key actors to keep the networks connected. On the other hand, the level of cooperation among firms is, on average, low. In this sense, the countries under study do not present, in general, regions with high levels of local business capacity that can be the main support of cooperation networks. Therefore, organizations play an intermediary role between firms and provide access to external sources of innovation that can be disseminated through the network. Finally, the combination of social network analysis with econometric regression techniques revealed a positive relationship between the cooperation in networks and the economic performance of firms.
    Keywords: regional development, productive specializations, clusters, social network analysis, business cooperation, Latin America
    JEL: O18 O31 O32 O54 R11 R58
    Date: 2019–02
  312. By: Celso José Costa Junior (Ministerio de Economía, Universidad Estadual de Ponta Grossa (UEPG) & Fundação Getúlio Vargas (FGV), Brasil); Alejandro C. García Cintado (Universidad Pablo de Olavide (UPO) & UEPG); Manuel Alejandro Hidalgo Pérez (UPO & Secretaría General de Economía – Junta de Andalucía)
    Abstract: This paper uses a DSGE model with political-regime-dependent fiscal and monetary policies so as to examine political-business cycles in an emerging market such as Brazil under three different regimes – an "opportunistic regime" and "two partisan ones". The former regime seeks to identify whether within the period of seven quarters prior to the elections, the government manipulated the economy to increase the chances of getting reelected (or securing a successor). As for the latter two, they try to verify whether the macroeconomic strategies pursued by the "more leftist" governments differed from their "more right-wing" predecessors’ monetary and fiscal policies. Our results show that there exists an opportunistic behavior by all the governments studied as regards fiscal policy, and that from a macroeconomic viewpoint, President Rouseff’s administration fared differently than previous governments. However, monetary policy turns out to be independent of the regimes considered.
    Keywords: political cycles, monetary policy, fiscal policy, Oaxaca model, Dynamic Stochastic General Equilibrium (DSGE) model.
    JEL: E32 E52 E62
    Date: 2019–05
  313. By: Neha Hui (Department of Economics, University of Reading)
    Abstract: This paper examines the effects of persistent political conflict on domestic violence in Nigeria and contributes to an emerging literature on the indirect effects of political conflict on the wellbeing of civilians. Using data from Demographic and Health Survey (DHS) and Armed Conflict Location and Event Data (ACLED), I find that after controlling for omitted variable bias by using an appropriate instrument (distance from pre-colonial ethnic society border), increased exposure to political conflict leads to a higher incidence of domestic violence. One additional event of political conflict within a 20 Km buffer in the ten-year period preceding the year of interview implies a 9.3 percent increase in domestic violence with respect to the sample mean. The magnitude of the effect of political conflict on domestic violence increases when we consider a smaller time frame (of two years preceding the year of interview), as well as more intense events of political violence(high fatality events, events of battles and events involving violence against civilians) and decreases when we increase the size of the buffer zone. Political conflict also seems to reduce overall bargaining power or agency of women and increase the controlling behaviour of men. Thus, it is argued here that the increased violence is the consequence of reduced agency or autonomy of the victim and increased violent behaviour of the inflictor.
    Keywords: domestic violence, political violence, controlling behaviour, autonomy
    JEL: J12 J15 J16 O12
    Date: 2019–05–02
  314. By: Simplice A. Asongu (Yaoundé/Cameroon)
    Abstract: Linkages between foreign aid, terrorism and natural resource (fuel and iron ore) exports are investigated in this study. The focus is on 78 developing countries with data for the period 1984 to 2008. The generalised method of moment is employed as empirical strategy. Three main foreign aid variables are used for the analysis, namely: bilateral aid, multilateral aid and total aid. The corresponding terrorism variables employed are: domestic terrorism, transnational terrorism, unclear terrorism and total terrorism. The following findings are established. First, the criteria informing the validity of specifications corresponding to iron ore exports do not hold. Second, there is evidence of convergence in fuel exports. Third, whereas the unconditional impacts of aid dynamics are not significant, the unconditional impacts of terrorism dynamics are consistently positive on fuel exports. Fourth, the interaction between terrorism and aid dynamics consistently display negative signs, with corresponding modifying aid thresholds within respective ranges. Unexpected signs are elicited and policy implications discussed. Given the unexpected results, an extended analysis is performed in which net effects are computed. These net effects are constitutive of the unconditional effect from terrorism and the conditional impacts from the interaction between foreign aid and terrorism dynamics. Based on the extended analysis, bilateral aid and total aid modulate terrorism dynamics to induce net positive effects on fuel exports while multilateral aid moderates terrorism dynamics to engender negative net effects on fuel exports. The research improves extant knowledge on nexuses between resources, terrorism and foreign aid.
    Keywords: Foreign Aid; Exports; Natural Resources; Terrorism; Economic Development
    JEL: F40 F23 F35 Q34 O40
    Date: 2019–01
  315. By: Bullock, David W.; Wilson, William W.
    Abstract: Growth in the export marketing of soybeans has drawn attention to the basis volatility in these market channels. Indeed, there has been greater growth in soybean exports compared to other commodities and this is due in part to the growth of exports to China. Concurrently, there has been substantial volatility in the basis at the primary U.S. export locations: the U.S. Gulf and the Pacific Northwest (PNW). This variability is caused by traditional variables affecting the basis but is also influenced by shipping costs, international competition, and inter-port relationships. Further, there seems to be distinct seasonal patterns that vary across marketing years. The purpose of this study is to examine the impact of supply/demand, export competition and logistical variables on both the average level and seasonality of U.S. export basis values for the 2004/05 through 2015/16 marketing years (September through August for U.S. soybeans). This study examines the impact of a wide range of supply, demand, transportation, and other market variables upon both the average level and seasonality (by marketing year) of the basis at the two major U.S. export locations, Gulf and Pacific Northwest (PNW). The explanatory dataset contains more variables (27) than observations (12 marketing years from 1994/95 through 2015/16); therefore, it presents challenges from both a sparsity and a multicollinearity perspective. To address these issues, a statistical regression technique, called partial least squares (PLS) is utilized. This technique has advantages over using principal components regression (PCR) since derivation of the components is directed towards maximizing the covariance between the dependent (Y) and explanatory (X) variable sets rather than just explaining the variance of X. Seasonality is investigated in this study utilizing agglomerative hierarchal clustering (AHC) to group similar marketing years by seasonal pattern called seasonal analogs. These seasonal analogs were then related to the explanatory variable set using a two-sample statistical test (Lebart, Morineau and Piron 2000) that compares the means of a subset and its parent set to explain the impact of the explanatory variables. The results indicate that the average market year level of the basis is primarily influenced by export competition from Brazil and export demand – particularly from China; however, domestic demand (soybean crush) also has some influence. Rail transportation costs to both the Gulf and PNW have an influence on the basis level; however, barge and ocean freight rates appear to not have a significant influence on the level of the basis. Application of AHC resulted in the identification of 5 and 4 distinct analogs (over the 12 marketing years in the dataset) for the Gulf and PNW respectively. Application of the two-sample mean difference tests to the analogs indicate that the seasonal pattern of the export basis is more heavily influenced by internal logistical conditions (late railcar placement and secondary railcar values), pace of farmer marketings, transportation cost differentials (between ports), and individual port export activity (ships in port and export inspections) rather than international and domestic demand.
    Keywords: Demand and Price Analysis, International Relations/Trade
    Date: 2019–05–16
  316. By: João Tovar Jalles
    Abstract: In this paper, we empirically assess by means of the local projection method, the impact of different types of financial crises on a variety of pollutant emissions categories for a sample of 86 countries between 1980-2012. We find that financial crises in general lead to a fall in CO2 and methane emissions. When hit by a debt crisis, a country experiences a rise in emissions stemming from either energy related activities or industrial processes. During periods of slack, financial crises in general had a positive impact on both methane and nitrous oxide emissions. If a financial crisis hit an economy when it was engaging in contractionary fiscal policies, this led to a negative response of CO2 and production-based emissions.
    Keywords: pollution, greenhouse gases, local projection method, impulse response functions, recessions, fiscal expansions
    JEL: E32 E6 G01 O44 Q54
    Date: 2019–05
  317. By: Rongen Gerton
    Abstract: This paper applies a novel inequality estimation method to household consumption expenditure in Mumbai, India.Since the richest households may be missing in survey data, this re-estimated inequality figure takes them into account by combining survey data with house price data. However, application of this method does not indicate that the survey-based Gini coefficient of 0.447 underestimates consumption inequality in Mumbai; none of the ten investigated scenarios yields a higher estimate.Further analyses are necessary to assess the robustness of estimates and the usefulness of applying this method to the whole of urban India.
    Keywords: Economic inequality,House prices,Household consumption,Household income,Household survey
    Date: 2018
  318. By: Nicolas Jacquemet (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics); Alexander James (University of Oxford [Oxford]); Stéphane Luchini (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique - AMU - Aix Marseille Université - EHESS - École des hautes études en sciences sociales); Jason Shogren (Departement of Economics and Finance, University of Wyoming - UW - University of Wyoming)
    Abstract: Herein we explore whether a solemn oath can eliminate hypothetical bias in a voting referenda, a popular elicitation mechanism promoted in non-market valuation exercises for its incentive compatibility properties. First, we reject the null hypothesis that a hypothetical bias does not exist. Second, we observe that people who sign an oath are significantly less likely to vote for the public good in a hypothetical referenda. We complement this evidence with a self-reported measure of honesty which confirms that the oath increases truthfulness in answers. This result opens interesting avenues for improving the elicitation of preferences in the lab and beyond.
    Keywords: Hypothetical bias,Oath,Dichotomous Choice Mechanism,Preference revelation
    Date: 2017–07
  319. By: Stefano Gagliarducci; M. Daniele Paserman; Eleonora Patacchini
    Abstract: This paper studies how politicians and voters respond to new information on the threats of climate change. Using data on the universe of federal disaster declarations between 1989 and 2014, we document that congress members from districts hit by a hurricane are more likely to support bills promoting more environmental regulation and control in the year after the disaster. The response to hurricanes does not seem to be driven by logrolling behavior or lobbysts' pressure. The change in legislative agenda is persistent over time, and it is associated with an electoral penalty in the following elections. The response is mainly promoted by representatives in safe districts, those with more experience, and those with strong pro-environment records. Our evidence thus reveals that natural disasters may trigger a permanent change in politicians' beliefs, but only those with a sufficient electoral strength or with strong ideologies are willing to engage in promoting policies with short-run costs and long-run benefits.
    JEL: D70 D72 H50 Q54
    Date: 2019–05
  320. By: Salih Fendoglu; Eda Gulsen; Josè-Luis Peydro
    Abstract: We show that global liquidity limits the transmission of local monetary policy on credit markets. For identification, we exploit global liquidity shocks in conjunction with monetary policy changes and exhaustive loan-level data (the credit and international interbank market registers) from a large emerging market, Turkey. We show that softer global liquidity conditions —proxied by lower VIX or expansionary US monetary policy— attenuate the pass-through of local monetary policy tightening on loan rates, especially for banks that borrow ex-ante more from international wholesale markets. Effects are also important for other credit margins and for bank risk-taking —especially for risky borrowers in FX loans. The mechanism at work is via a bank carry trade from international markets when local monetary conditions tighten.
    Keywords: Global liquidity, Global financial cycle, Monetary policy transmission, Emerging markets, Banks
    JEL: E52 F30 G01 G15 G21
    Date: 2019
  321. By: Anabela Santos; Michele Cincera; Paulo Neto; Maria Manuel Serrano
    Abstract: A wide range of empirical studies have analyzed which firm characteristics influence government evaluators on the decision to select specific firms for participating in Research and Development and Innovation subsidy programs. However, few authors have provided a precise analysis about the selection process of submitted applications for a public support. The aim of the present paper is to assess the effectiveness in the selection process and to understand which kind of projects are selected for being subsidized. The analysis is focused on the case study of applications submitted to the Portuguese Innovation Incentive System (SI Innovation) between 2007 and 2013. Once the selection criterion for accessing to this program is essentially based on competitiveness, namely in terms of internationalization and productivity, special attention was given on assessing the determinants of selection process regarding to these topics. Using a counterfactual analysis and Propensity Score Matching estimators, results show that the selection process to SI Innovation is more focused on expecting an increase of the internationalization and productivity of firms than in the efficiency of public expenditures and firm innovativeness. The conclusions of this paper could be useful for policy makers, once it identifies some failures in selection process, which according to other authors, could explain some disappointing results of public intervention in this field.
    Keywords: Subsidy, Innovation, Internationalization, Competitiveness, Propensity Score Matching
    JEL: O38 O31
    Date: 2019–05
  322. By: Wen, Lei; Zhou, Haiwen
    Abstract: Impact of economic integration on unemployment is studied in a general equilibrium model in which unemployment is a result of the existence of efficiency wages. Banks provide capital to manufacturing firms and engage in oligopolistic competition. Manufacturing firms choose technologies and also engage in oligopolistic competition. A country with a more efficient financial sector has a lower unemployment rate and a comparative advantage in producing manufactured goods. Trade integration decreases the unemployment rate and increases the wage rate and the equilibrium level of technology. An additional financial integration will decrease the unemployment rate and increase the wage rate and the level of technology further.
    Keywords: Unemployment, economic integration, efficiency wages, choice of technology, two-tier oligopoly
    JEL: E24 F12 J64
    Date: 2019–05–10
  323. By: Nathan Faivre (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, LNCO - Laboratory of Cognitive Neuroscience - EPFL - Ecole Polytechnique Fédérale de Lausanne); Anat Arzi (CAM - University of Cambridge [UK]); Claudia Lunghi (Department of Translational Research on New Technologies in Medicine and Surgery - University of Pisa - Università di Pisa); Roy Salomon (LNCO - Laboratory of Cognitive Neuroscience - EPFL - Ecole Polytechnique Fédérale de Lausanne)
    Abstract: Over the last 30 years, our understanding of the neurocognitive bases of consciousness has improved, mostly through studies employing vision. While studying consciousness in the visual modality presents clear advantages, we believe that a comprehensive scientific account of subjective experience must not neglect other exteroceptive and interoceptive signals as well as the role of multisensory interactions for perceptual and self-consciousness. Here, we briefly review four distinct lines of work which converge in documenting how multisensory signals are processed across several levels and contents of consciousness. Namely, how multisensory interactions occur when consciousness is prevented because of perceptual manipulations (i.e. subliminal stimuli) or because of low vigilance states (i.e. sleep, anesthesia), how interactions between exteroceptive and interoceptive signals give rise to bodily self-consciousness, and how multisensory signals are combined to form metacognitive judgments. By describing the interactions between multisensory signals at the perceptual, cognitive, and metacognitive levels, we illustrate how stepping out the visual comfort zone may help in deriving refined accounts of consciousness, and may allow cancelling out idiosyncrasies of each sense to delineate supramodal mechanisms involved during consciousness.
    Keywords: contents of consciousness,unconscious processing,metacognition,states of consciousness,self
    Date: 2017–09
  324. By: Gualdoni, Patricia; Baltar, Fabiola; Pagani, Andrea N.; Gaviola, Saúl Ricardo
    Abstract: En 2010, la implementación de las cuotas individuales transferibles de captura (CITC) en Argentina puso en debate una de las desventajas del sistema: la concentración pesquera. Desde la teoría económica, se demuestra que la eficiencia económica se logra en los mercados competitivos, por lo que el término concentración tiene una connotación negativa. El objetivo de este trabajo es analizar, desde una perspectiva teórica, si el sector pesquero presenta rasgos no competitivos y los efectos sobre la eficiencia económica. El sector presenta desvíos respecto de un mercado competitivo. Los efectos de la concentración sobre la eficiencia asignativa pierden relevancia cuando se utiliza un alto porcentaje de la cuota global y cuando la misma se constituya en una restricción fuerte a la oferta o cuando el destino de la producción es principalmente el mercado externo. El logro de la eficiencia productiva depende de cómo se estructura la posibilidad de obtener o ceder cuotas.
    Keywords: Concentración Económica; Cuota de Pesca; Argentina;
    Date: 2018
  325. By: Quentin Couix (CES - Centre d'économie de la Sorbonne - CNRS - Centre National de la Recherche Scientifique - UP1 - Université Panthéon-Sorbonne)
    Abstract: This paper proposes a historical and epistemological account of one of the key controversy between natural resources economics and ecological economics, lasting from early 1970s to the end of 1990s. It shows that the theoretical disagreement on the scope of the economy's dependence to natural resources, such as energy and minerals, has deep methodological roots. On one hand, Solow's and Stiglitz's works are built on a "model-based methodology", where the model precedes and supports the conceptual foundations of the theory and in particular the assumption of "unbounded resources productivity". On the other hand, Georgescu-Roegen's counter-assumption of "thermodynamic limits to production", later revived by Daly, rest on a methodology of "interdisciplinary consistency" which considers thermodynamics as a relevant scientific referent for economic theory. While antagonistic, these two methodologies face similar issues regarding the conceptual foundations that arise from them, which is a source of confusion and of the difficult dialogue between paradigms.
    Keywords: natural resources,thermodynamics,growth,sustainability,model,theory,methodology
    Date: 2018–01
  326. By: Fortuna Casoria (Univ Lyon, CNRS, GATE UMR 5824, F-69130 Ecully, France); Alice Ciccone (Institute of Transport Economics, Oslo, Norvège)
    Abstract: We investigate whether upfront investments increase cooperation in settings with no enforcement mechanism, where cooperation is not easily sustained voluntarily. Such investments are a cost that individuals incur before deciding whether to cooperate and increase cooperation payoff. We find that cooperation rarely emerges in treatments without investments, while both endogenous and exogenous investments boost overall cooperation levels. For low endogenous investments, cooperation is lower than when the same investments are exogenous. For high investments, cooperation is not significantly different between endogenous and exogenous conditions. This supports low investments being interpreted as a signal of unwillingness to cooperate, triggering non-cooperative choices.
    Keywords: KeyCooperation, Upfront investments, Prisoners' dilemma, Experiment
    JEL: C7 C72 C73 C9 C91
    Date: 2019
  327. By: Masaaki Fukasawa; Tetsuya Takabatake; Rebecca Westphal
    Abstract: Rough volatility models are continuous time stochastic volatility models where the volatility process is driven by a fractional Brownian motion with the Hurst parameter less than half, and have attracted much attention since a seminal paper titled "Volatility is rough" was posted on SSRN in 2014 claiming that they explain a scaling property of realized variance time series. From our point of view, the analysis is not satisfactory because the estimation error of the latent volatility was not taken into account; we show by simulations that it in fact results in a fake scaling property. Motivated by this preliminary finding, we construct a quasi-likelihood estimator for a fractional stochastic volatility model and apply it to realized variance time series to examine whether the volatility is really rough. Our quasi-likelihood is based on a central limit theorem for the realized volatility estimation error and a Whittle-type approximation to the auto-covariance of the log-volatility process. We prove the consistency of our estimator under high frequency asymptotics, and examine by simulations the finite sample performance of our estimator. Our empirical study suggests that the volatility is indeed rough; actually it is even rougher than considered in the literature.
    Date: 2019–05
  328. By: Fortuna Casoria (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - Université de Lyon - CNRS - Centre National de la Recherche Scientifique); Alice Ciccone (Institute of Transport Economics - Institute of Transport Economics)
    Abstract: We investigate whether upfront investments increase cooperation in settings with no enforcement mechanism, where cooperation is not easily sustained voluntarily. Such investments are a cost that individuals incur before deciding whether to cooperate and increase cooperation payoff. We find that cooperation rarely emerges in treatments without investments, while both endogenous and exogenous investments boost overall cooperation levels. For low endogenous investments, cooperation is lower than when the same investments are exogenous. For high investments, cooperation is not significantly different between endogenous and exogenous conditions. This supports low investments being interpreted as a signal of unwillingness to cooperate, triggering non-cooperative choices.
    Keywords: Prisoners' dilemma,Experiment,Cooperation,Upfront investments
    Date: 2019
  329. By: Ivan Arraut; Alan Au; Alan Ching-biu Tse; Carlos Segovia
    Abstract: We introduce a new tool for predicting the evolution of an option for the cases where at some specific time, there is a high-degree of uncertainty for identifying its price. We work over the special case where we can predict the evolution of the system by joining a single price for the Option, defined at some specific time with a pair of prices defined at another instant. This is achieved by describing the evolution of the system through a financial Hamiltonian. The extension to the case of multiple prices at a given instant is straightforward. We also explain how to apply these results in real situations.
    Date: 2019–05
  330. By: Philippe Cohard (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier)
    Abstract: Modeling and simulation are now topics with major interest for researchers and practitioners. Markov chain is a powerful approach of modeling that could be used in multiple areas. For example, in management this approach can give numerous opportunities to better understand phenomena. Thus we ask the question: "How can Markov chains be useful for modeling processes? ". This paper is our answer. With Markov chains we show the possibilities to better understand management project. We also propose two programs which explain how to implement these models based on Markov chains. The results show that Markov chains approach of modeling can be useful for teaching and explaining processes. Modeling gives data to analyze what can be compared with empirical data or tested for coherence. Modeling with Markov chains can be interpreted and give insights on real causes of complex phenomena.
    Keywords: Markov chains,modeling,process,simulation,program
    Date: 2018–01