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on Microeconomic European Issues |
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Issue of 2024‒01‒01
85 papers chosen by |
| By: | Silvia Peracchi (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)) |
| Abstract: | The massive inflows of migrants across the Mediterranean has generated widespread political attention and backlash. This paper explores the impact of migrants’ displacements at the EU’s internal borders, due to militarized border push-backs and arising from the European migrant crisis in the 2010s. It investigates how these displacements affect both the local news market and the local political economy. To do so, it relies on a policy implemented in June 2015, whereby French authorities introduced militarized controls at the Italian frontier to redirect migrants and asylum seekers, originally intending to cross the border irregularly, back to the Italian territory. These dynamics created a quasi-experimental setting, where natives in the Italian region were unevenly exposed to pushed back migrants: those residing close to the French border experienced more directly the evolution of events. Using novel text and count data from local news in the interested areas of Liguria, Italy, between 2012 and 2019, this study finds that, following the border push-backs, media coverage of migration decayed with commuting distance to the border. Conversely, anti-immigrant discourse in the news exhibited a relative increase in areas least directly impacted by the border events. Exploring further this framing dimension, the results turn out to be shaped by readers’ demand and to be closely associated with local news penetration. Finally, this study documents that voting preferences share a similar direction to news slant, while a related broad pattern also appears in hate-crime records. |
| Keywords: | Media slant, EU borders, immigration, diff-in-diff |
| JEL: | F22 L82 F50 |
| Date: | 2023–12–11 |
| URL: | http://d.repec.org/n?u=RePEc:ctl:louvir:2023021&r=eur |
| By: | Maciej Albinowski |
| Abstract: | I investigate the links between part-time employment opportunities and older workers' labour supply adjustments, focusing on the extensive and intensive margins. Utilising data from 30 European countries in the period from 2011 to 2021, I construct a quasi-panel that compares individuals aged 60-64 with those aged 55-59 from five years prior. I find that the employees in sectors offering more part-time jobs are more likely to stay employed and that the total hours worked by these employees decrease at a slower rate than those of the employees in sectors imposing more rigid hours constraints. These results are most pronounced for women in manual occupation types but are significant across all examined worker categories. The positive relationship between part-time employment opportunities and the total hours older employees work is robust to various modifications in the empirical setup. However, this relationship is heterogeneous across countries and is least pronounced in the countries with a high availability of part-time jobs. |
| Keywords: | older workers, labour supply, part-time employment, minimum hours constraints |
| JEL: | J22 J26 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:ibt:wpaper:wp072023&r=eur |
| By: | Melanie Borah; Andreas Knabe; Christine Lücke |
| Abstract: | This paper examines possible spillover effects of parental unemployment on the subjective wellbeing of 12- to 21-year-old children. Using German panel data (SOEP), we show that unemployment of fathers and mothers is negatively associated with their children’s life satisfaction. When controlling for time-invariant individual heterogeneity, our results suggest that maternal unemployment has negative effects, while no effect of fathers’ unemployment can be detected. In subgroup analyses, we do not find differential impacts between sons and daughters or between younger and older children. Further results suggest that the impact of parental unemployment differs between high- and low-unemployment regions. |
| Keywords: | unemployment, life satisfaction, happiness, children, intergenerational transmission |
| JEL: | I31 J13 J63 J64 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10776&r=eur |
| By: | Nikolova, Milena (University of Groningen); Lepinteur, Anthony (University of Luxembourg); Cnossen, Femke (University of Groningen) |
| Abstract: | Using survey data from 20 European countries, we construct novel worker-level indices of routine, abstract, social, and physical tasks across 20 European countries, which we combine with industry-level robotization exposure. Our conceptual framework builds on the insight that robotization simultaneously replaces, creates, and modifies workers' tasks and studies how these forces impact workers' job content. We rely on instrumental variable techniques and show that robotization reduces physically demanding activities. Yet, this reduction in manual work does not coincide with a shift to more challenging and interesting tasks. Instead, robotization makes workers' tasks more routine, while diminishing the opportunities for cognitively challenging work and human contact. The adverse impact of robotization on social tasks is particularly pronounced for highly skilled and educated workers. Our study offers a unique worker-centric viewpoint on the interplay between technology and tasks, highlighting nuances that macro-level indicators overlook. As such, it sheds light on the mechanisms underpinning the impact of robotization on labor markets. |
| Keywords: | robotization, technological change, worker-level data, tasks |
| JEL: | J01 J30 J32 J81 I30 I31 M50 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16610&r=eur |
| By: | Karina Doorley; Jan Gromadzki; Piotr Lewandowski; Dora Tuda; Philippe Van Kerm |
| Abstract: | We study the effects of robot penetration on household income inequality in 14 European countries between 2006–2018, a period marked by the rapid adoption of industrial robots. We establish that, similarly to the United States, automation reduced relative hourly wages and employment of directly affected demographic groups in Europe. We then use the estimated wage and employment shocks as input to the EUROMOD microsimulation model to assess how robot-driven shocks affected household income inequality. Automation had very small effects on income inequality. Household risk-sharing and tax and welfare policies largely absorbed wage and employment shocks caused by automation. |
| Keywords: | robots, automation, tasks, income inequality, wage inequality, microsimulation |
| JEL: | J24 O33 J23 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:ibt:wpaper:wp062023&r=eur |
| By: | Zając, Tomasz (University of Queensland); Magda, Iga (Warsaw School of Economics); Bożykowski, M. (University of Warsaw); Chłoń-Domińczak, Agnieszka (Warsaw School of Economics); Jasiński, M. (University of Warsaw) |
| Abstract: | Gender pay gaps in earnings are well-documented in the literature. However, new factors contributing to women's lower earnings have emerged and remain under-researched. Educational choices are among them. We use a rich administrative dataset from Poland, a Central Eastern European country with high tertiary education enrolment and high female employment rates among young women, to study gender pay gaps among tertiary education graduates with degrees in different fields of study while paying particular attention to STEM fields graduates (science, technology, engineering, and mathematics). We find that already in the first year after graduation, women earn over 20% less than men. This gap widens over time. We also find significant variation across different STEM fields both in the size of the gender pay gap and in how it changes over time. The gap is largest among mathematics graduates, at over 25%; while it does not exceed 3% among chemical and Earth sciences graduates. As these differences narrow only slightly within the first four years of graduates' working careers, policymakers' efforts to increase the number of women earning STEM degrees may not be enough to achieve gender pay equality. |
| Keywords: | STEM, labor market, higher education, gender pay gap, field of study, Poland |
| JEL: | J16 J24 J3 J71 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16613&r=eur |
| By: | Nolan, Brian; Azzollini, Leo; Breen, Richard |
| Abstract: | Changes in household structures and employment patterns alter the balance between households with an above- versus a below-average poverty risk while also affecting relative income poverty thresholds. Examining eleven countries for which suitable microdata is available from LIS back to the mid-1980s shows that patterns of change in household composition and employment exhibited some common features but also very substantial variation. The share of single adult households rose in most countries, couples with no or only one person in paid work fell in most, while couple households with two earners increased in a majority but not in Denmark, Norway and the USA and only modestly in Hungary and the UK. A counterfactual exercise assessed the impact of these changes in composition on relative income poverty rates by reweighting the 2019 samples to impose the composition structure observed in 1986. In the absence of these composition changes the relative poverty rate in 2019 would have been a good deal higher in Germany, Greece, and Italy, and especially in Israel and Spain. Composition changes had only a modest impact in the UK and made very little difference in Denmark, Hungary, and the USA, while working to increase the relative poverty rate in Czechia and Norway. This reflected the varying scale and nature of the composition changes seen across these countries. Their impact included driving up the relative poverty threshold (except in the USA), and if this effect is discounted the composition shift over the period would have had a greater poverty reduction impact in most countries, especially in Israel, Italy and most powerfully in Spain. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:amz:wpaper:2023-29&r=eur |
| By: | Liliana Cuccu (AQR-IREA, University of Barcelona); Vicente Royuela (AQR-IREA, University of Barcelona); Sergio Scicchitano (John Cabot University) |
| Abstract: | This paper investigates the surge in Involuntary Part-Time (IPT) employment in Italy from 2004 to 2019, exploring its impact on various socio-economic groups and adopting a spatial perspective. Our study tests the hypothesis that technological shifts, specifically routine biased technological change (RBTC), and the expansion of household substitution services contribute to IPT growth. We uncover a widening negative gap in IPT prevalence among marginalized groups- women, young, and less skilled workers. After controlling for sector and occupation, the higher IPT propensity diminishes but remains significant, hinting at persistent discrimination. Additionally, segregation into more exposed occupations and sectors intensifies over time. Leveraging province-level indicators, and using a Partial Adjustment model, we find support for RBTC’s correlation with IPT, especially among women. The impact of household substitution services is notably pronounced for women, highlighting sector segregation and gender norms’ influence |
| Keywords: | Involuntary part-time, Precarisation of labour, Automation JEL classification: J21, J24, O33. |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:aqr:wpaper:202307&r=eur |
| By: | Donato Masciandaro; Raffaella Barone |
| Abstract: | We offer a theoretical and empirical analysis of the intertwined relationships among environmental crime revenues, corruption, and money laundering, when the illegal cleaning process is implemented via the real-estate sector. Modelling such as relationships through a logistic function, we estimate the overall environmental crime revenues using Italian regional data from 1995 to 2020. |
| Keywords: | environmental crime, corruption, money laundering, real-estate sector, Italy |
| JEL: | D7 F18 K4 R30 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:baf:cbafwp:cbafwp23211&r=eur |
| By: | Di Stefano, Roberta; Resce, Giuliano |
| Abstract: | This research investigates how local governments overlook competitive funding opportunities within cohesion policies, utilizing machine learning and analyzing data from open calls within the European Next Generation EU funds. The focus is on predicting which local governments may face challenges in utilizing available funding, specifically examining the allocation of funds for Italian childcare services. The results demonstrate that it is possible to make out-of-sample predictions of municipalities that are likely to abstain from invitations, also identifying key determinants. Population-related factors play a pivotal role in predicting inertia, alongside other service-demand-related elements, particularly in regions with limited services. The study emphasizes the importance of local institutional quality and individual attributes of policymakers. The adverse effects on participation resulting from factors that justify fund allocation may place regions with higher investment needs at a competitive disadvantage. Anticipating potential non-participants in calls can aid in achieving policy targets and optimizing the allocation of funds across various local governments. |
| Keywords: | Competitive funding; Cohesion policies; Predictive modeling; Machine learning. |
| JEL: | H5 H7 I3 J1 R5 |
| URL: | http://d.repec.org/n?u=RePEc:mol:ecsdps:esdp23092&r=eur |
| By: | Eva Moreno Galbis (Aix-Marseille Univ., CNRS, AMSE, Marseille, France); Mariana Benitez Rubiano (Arcadis and Aix-Marseille University, France) |
| Abstract: | We seek to evaluate if terror attacks perpetrated by the Islamic State in France in 2015 and 2016 induced an increase in violence against people associated with the Islamic religion. A simple behavioral model of conflict with a fully public prize predicts that conflict intensity is driven by distance across groups in conflict and polarization. Exploiting data from the French survey "Cadre de Vie et Securite" 2009-2019 we implement a difference-indifferences approach to compare before-after changes in violence against Maghrebis using European immigrants as a comparison group. We find no evidence that terror attacks promoted an increase in violence against Maghrebis during the years following the attacks. Moreover, by utilizing data from the European Social Survey, we do not find significant changes following the terror attacks in various indicators proxying distance across groups and polarization. French natives did not radicalize towards far-right positions but rather developed empathy towards immigrants. Maghrebis did not become more dissatisfied with the police, they were not more afraid of retaliation, they did not feel more discriminated against, and they did not change their degree of religiosity. |
| Keywords: | conflict, terrorism, xenophobia, polarization |
| JEL: | D74 F52 I31 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:aim:wpaimx:2332&r=eur |
| By: | Alfonso Expósito ((University of Málaga, Spain). ORCID number: 0000-0002-9248-4879); Juan A. Amparo Sanchis-Llopis ((University of Valencia and ERICES, Spain). ORCID number: 0000-0002-0872-7859); Juan A. Juan A. Sanchis-Llopis ((University of Valencia and ERICES, Spain). ORCID number: 0000-0001-9664-4668) |
| Abstract: | This study explores whether there are significant differences between female- and male-led businesses in terms of the performance results they obtain from innovating. We use a sample of 1, 376 Spanish small and medium enterprises (SMEs) to analyze the impact of entrepreneur gender on business performance considering the mediating effect of innovations, that is, the possibility that gender indirectly influences business performance by affecting the introduction of innovations. Using econometric techniques, we estimate discrete choice models to explore the relationship among gender, innovations and business’ performance. Our analysis is multidimensional in that we consider two types of performance indicators, financial and operational, and three types of innovations: product, process and organisational innovations. Our empirical findings show that, after controlling for other entrepreneurial and business characteristics, menled SMEs are more likely to obtain better performance from their innovations, and in particular, from their higher propensity to introduce process innovations, as compared to women-led SMEs. We extend existing empirical literature in the gender and entrepreneur research fields regarding the role of entrepreneur gender in the innovation-performance relationship, and contribute to the understanding of the role of gender in SMEs performance. Our study suggests the need to incorporate a gender perspective in those policies dealing with enhancing SMEs innovativeness and performance. |
| Keywords: | Gender of entrepreneur; small and medium-enterprises; innovations; financial performance; operational performance; bivariate probit model. |
| JEL: | C35 J16 F14 M21 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:eec:wpaper:2308&r=eur |
| By: | Léa Cimelli |
| Abstract: | To investigate compensation through survivor’s pensions at widowhood in France, this paper uses an administrative dataset to exploit a large sample of survivors whose income is known several years before and after widowhood. An event study first identifies the effects of widowhood on men’s and women’s living standards. Then, I measure how much this effect is offset by the survivor’s pension. To distinguish between total and partial overcompensation, I analyse the heterogenous effects of widowhood according to pre-widowhood share of couple income. The results show that both men’s and women’s living standards tend to increase upon widowhood. For both groups, survivors earning less than 40% of their couple income tend to be fully compensated by a survivor’s pension, while those earning more tend to be overcompensated. Survivor’s pensions largely ensure that women’s living standards do not plummet upon widowhood while also helping to prevent them from falling below the poverty threshold. |
| Keywords: | widowhood, survivor pension, living standards, poverty, bread-winner status, gender inequalities, France, SOUTIEN DE FAMILLE / BREADWINNERS, PENSION DE RETRAITE / RETIREMENT PENSIONS, PERSONNE VEUVE / WIDOWS WIDOWERS, PAUVRETE / POVERTY, FRANCE / FRANCE, NIVEAU DE VIE / STANDARD OF LIVING, VEUVAGE / WIDOWHOOD, DIFFERENCE ENTRE SEXES / SEX DIFFERENTIALS |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:idg:wpaper:ru_mfowbu9wft_qngvqy&r=eur |
| By: | Antonio Cutanda (Universidad de Valencia, Valencia, Spain. ORCID number: 0000-0003-2066-4632); Juan A. Juan A. Sanchis-Llopis (Universidad de Valencia and ERICES, Valencia, Spain. ORCID number: 0000-0001-9664-4668) |
| Abstract: | In this paper we estimate the housing wealth effect on non-durable consumption using data from the Spanish Survey on Household Finances (Encuesta Financiera de las Familias, SHF), for the period 2002-2017. We aim at identifying the effect of anticipated and unanticipated housing wealth changes on consumption with the sample of homeowners, following Jappelli and Pistaferri (2017). Our results lead us to conclude that there exists a strong housing wealth effect on consumption for the Spanish households. This provides evidence against the permanent income model. Further, we detect a high excess sensitivity of consumption to income reinforcing the above conclusion. Finally, by adding the mortgage growth rate to the estimated equation, we do not detect evidence that the Spanish data support the collateral channel hypothesis. |
| Keywords: | Wealth effect on consumption, Subjective expectations, Collateral channel hypothesis, Instrumental variables, Panel data. |
| JEL: | C23 C26 D12 D15 E21 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:eec:wpaper:2309&r=eur |
| By: | Stefan Jestl (The Vienna Institute for International Economic Studies, wiiw); Michael Landesmann (The Vienna Institute for International Economic Studies, wiiw); Sebastian Leitner (The Vienna Institute for International Economic Studies, wiiw); Sandra M. Leitner (The Vienna Institute for International Economic Studies, wiiw); Isilda Mara (The Vienna Institute for International Economic Studies, wiiw); Maryna Tverdostup (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | This Policy Note reports on the analyses undertaken in a number of wiiw Working Papers that are the output of two projects financed by the Anniversary Fund of the Austrian National Bank (Project no. 18474 and no. 17166). Four of the papers are based on survey data from the FIMAS dataset, which has been compiled over the years by the International Centre for Migration Policy Development (ICMPD), together with wiiw, and which document the experiences of recent waves of refugees from Afghanistan, Iran, Iraq and Syria. The topics covered in these four papers are as follows. First, an analysis of the pattern of occupational status loss (or gain) that refugees experience in the course of the move from their home countries to the destination country (Austria), focusing on the move from the jobs they had prior to the move, to their first job in Austria and then to their second or current job. Second, an examination of the effectiveness of two of the labour market integration programmes offered by the Austrian public employment service (AMS) the Competence Check and the Voluntary Integration Year programme. Third, an investigation into the interrelationships between aspects of the ‘social integration’ and the ‘labour market integration’ of refugees. Fourth, an analysis of the factors determining (or related to) the mental health problems that this wave of refugees has had to cope with. A fifth paper is based on the register-based labour market career data provided by Statistics Austria it examines a number of issues (job entry, job quality, job stability) related to the trajectories of refugees’ labour market experiences in Austria, compared to other non-European migrants from low- and medium-income countries. |
| Keywords: | Refugees, labour market integration, occupational trajectories, refugee integration programmes, social integration, mental health |
| JEL: | C13 C41 F22 H43 I10 J15 J24 J62 J68 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:wii:pnotes:pn:74&r=eur |
| By: | Sylvie Blasco (Le Mans University (France), GAINS-TEPP, IRA, IZA); Eva Moreno Galbis (Aix-Marseille Univ., CNRS, AMSE, Marseille, France); Jeremy Tanguy (University Savoie Mont Blanc (France), IREGE) |
| Abstract: | In this paper we assess how two smoking-related parental health shocks, the diagnosis of lung cancer and the diagnosis of another smoking-related cancer, affect offspring smoking behavior depending on the timing of the health shock. We use two strategies to isolate the informational shock effect from the transmission effect associated with parental smoking. We first focus on individuals whose parents were diagnosed with smoking-related cancer and exploit heterogeneity in the individual's age at diagnosis. We then build a retrospective panel and use individual fixed effects to absorb the transmission effect. We find that receiving a parental diagnosis at the age when the decision to smoke is about to be made reduces the long-term probability of being a smoker and the duration of smoking. |
| Keywords: | smoking, health shocks, intergenerational transmission |
| JEL: | I10 I12 D8 D84 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:aim:wpaimx:2333&r=eur |
| By: | Agar Brugiavini; Ludovico Carrino; Giacomo Pasini |
| Abstract: | The provision of long-term care (LTC) for senior citizens in Italy is at the center of the recent policy debate. Italy has witnessed a spectacular increase in the share of people aged 65 and over and in particular of people aged 80 and over, which could translate in large increases in the number of people in need of care. We show that individuals who are in need of LTC have lower economic resources than the average, so that many frail older people have little financial means to pay out-of-pocket for formal care. In fact, publicly provided care is highly fragmented, with stark differences emerging in terms of coverage and generosity across Italian regions. Hence, the supply of LTC is relying heavily on the informal support of members of the family, especially women, at the same time formal care is characterised by a significant underground economy of unskilled carers. |
| JEL: | D1 I13 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31861&r=eur |
| By: | Belloc, Ignacio (University of Zaragoza); Molina, José Alberto (University of Zaragoza); Velilla, Jorge (University of Zaragoza) |
| Abstract: | Traditionally, the data of inheritances in surveys are analysed assuming that they are equally shared within households. However, inheritances are individual assets, regardless of the marital property regime adopted at the time of marriage. In this paper, we examine the impact of individual unexpected inheritances on the household labor supply. To do so, we use data from the SHARE for the years 2006-2015 from 13 European countries and adopt a collective perspective to analyze whether inheritances are equally distributed within the household or, on the contrary, the identity of the recipient matters. We reject the inheritance pooling hypothesis, in favour of the intrahousehold approach. Our results suggest that females decrease their labor force participation by 5.3 percentage points if they have received an unexpected inheritance since the prior interview. We find no impact of inheritances on the labor supply of males. These results suggest that estimates based on the inheritance pooling hypothesis, a pure unitary perspective, may be biased downwards. |
| Keywords: | inheritances, intrahousehold allocation, inheritance pooling hypothesis, SHARE |
| JEL: | D13 D31 G51 J14 J22 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16620&r=eur |
| By: | Peltonen, Juho |
| Abstract: | This paper estimates the extent to which unemployment in Germany would have been increased during the Covid-19 recession without a short-time work (STW) labor-market policy which enables employers to reduce temporarily the working hours of full-time workers. A Bayesian estimation of a general equilibrium model with a STW policy, and a simulation of a counterfactual model without STW, show that the German unemployment rate would have been 4.2 percentage points higher without the policy. These results indicate that the STW participates in preventing excess job destruction during economic downturns, and in stabilizing unemployment fluctuations over business cycles. |
| Keywords: | Search and matching, short-time work, Bayesian estimation |
| JEL: | E24 E32 J63 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119238&r=eur |
| By: | Bertheau, Antoine (Dept. of Economics, Norwegian School of Economics and Business Administration); Larsen, Birthe (Copenhagen Business School); Zhao, Zeyu (University of Copenhagen) |
| Abstract: | We designed an innovative survey of firms and linked it to Danish administrative data to yield new insights about the factors that can influence firms’ hiring decisions. Several important findings stand out: (1) search and training frictions and economic uncertainty are as important as labor costs in hiring decisions ; (2) search and training frictions are more likely to affect younger and smaller firms; (3) uncertainty is more likely to affect hiring decisions in low-productivity firms; (4) thirty percent of firms prefer to hire already employed persons over the unemployed, because they believe that unemployed workers have lower abilities due to negative selection or skill depreciation during unemployment; and (5) these firms are more likely to report that labor market frictions and labor costs considerations discourage them from hiring. |
| Keywords: | Hiring |
| JEL: | J20 J21 |
| Date: | 2023–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:nhheco:2023_020&r=eur |
| By: | CAPPELLANO Francesco; MARQUES SANTOS Anabela (European Commission - JRC); DOTTI Nicola Francesco |
| Abstract: | This paper provides quantitative evidence on the geography of regional readiness to tackle climate change using data from France, Germany, Italy, Poland, and Spain. Following Cappellano et al. (2022), we estimate a composite indicator that reports the situation of regions in these countries between 2009 and 2020 regarding the directionality of their Science and Technological Innovation and policy priorities to fight climate change. Using regression analysis, we assess the relationship between such directionality and the degree of risk of disasters (coastal floods, river floods, and landslides) they face in the short, medium, and long-term as a result of climate change effects. Results shows a positive relationship between estimated risk projection and climate change preparedness. However, a more in-depth analysis demonstrates the complexity of such geographical “problem-solution convergence”. Indeed, more developed regions are the ones that appear more ready to tackle climate change effects compared with transition and less developed regions. |
| Keywords: | Climate Change; Innovation; Public Policy; Regional Economics; Europe |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:termod:202310&r=eur |
| By: | Fleiter, Jannik (RWTH Aachen university); Atasoy, Ayse Tugba (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)); Madlener, Reinhard (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)) |
| Abstract: | In this paper, we examine the significance of compliance costs in the context of solar photovoltaics deployment and installed capacity decisions by private households in Germany. We investigate possible adverse effects of feed-in remuneration schemes induced by tax compliance costs. More specifically, we study how private households respond to a tax policy instruction issued by the German Federal Ministry of Finance in June 2021, which enables to avoid the tax compliance obligations if the installed capacity does not exceed 10 kWp. A decision model and two different empirical models are employed to show how such compliance costs may distort both deployment decisions and capacity choices. We find that the tax instruction led to a change in the capacity distribution of newly built PV systems towards 50-65% intensified excess bunching slightly below 10 kWp, leading to inefficient use of rooftop space. Lack of crosssectional variation in the data and a large number of confounding events in the observation period calls for further research to corroborate our findings. |
| Keywords: | Feed-in tariff; Prosumer household; Solar photovoltaics; Compliance cost; Attribute-based regulation; Bunching; Regression discontinuity (in time) approach; |
| JEL: | C14 D12 O33 Q42 Q48 |
| Date: | 2023–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:ris:fcnwpa:2023_008&r=eur |
| By: | Laatsit, Mart (CIRCLE, Lund University); Lindholm-Dahlstrand, Åsa (CIRCLE, Lund University); Nilsson, Magnus (CIRCLE, Lund University) |
| Abstract: | A new generation of innovation policies has placed renewed attention on understanding the innovation processes taking place on and affecting the system level. On one hand, there is a growing demand for policy instruments addressing the need for system change. On the other hand, there is still a lack of understanding of how innovation policy instruments contribute to a system-level impact. We address this gap by taking a programme perspective and proposing an analytical framework for assessing three types of effects: first-order, second-order, and system-level. Our approach is inspired by the functions of technological innovation system literature (TIS). We apply the analytical framework to the analysis of an innovative entrepreneurship instrument, the Swedish Innovation Agency VINNOVA’s Innovative SME programme. We find that the public support programmes contributed significantly to SMEs’ ability to influence system functions. Based on the findings, we argue that the analysis of innovation policy programmes should move beyond a narrow assessment of direct effects and consider more the second-order and system-level effects. |
| Keywords: | innovation policy; Sweden; public funding |
| JEL: | O33 O38 |
| Date: | 2023–11–28 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2023_012&r=eur |
| By: | Boese-Schlosser, Vanessa; Bayerlein, Michael; Gates, Scott; Kamin, Katrin; Murshed, Syed Mansoob |
| Abstract: | The COVID-19 pandemic increased pressure on the relationship between governments and the public, making cooperation between both actors more critical than ever. Surprisingly, there is significant variation in public compliance with health policies, especially regarding vaccine uptake across different countries. Based on this finding, we seek to understand why vaccination hesitancy varies between countries. Instead of focusing solely on government trust and satisfaction, this research examines the impact of individuals' experiences having lived in autocratic countries on vaccine hesitancy. We derive a formal model of how autocratic experience and the subsequent distrust in health policies affect the individual calculus on vaccine uptake, and test the propositions of our model in a sample of 33 European countries on the micro-level. We find that autocratic experience gravely impacts individual vaccine hesitancy. Our findings shed light on the prolonged impact of autocratic rule on societal processes and on the roots of vaccine hesitancy, which is not rooted in general distrust but rather a highly specific form of scepticism towards government action. |
| Keywords: | Autocracy, COVID-19, Pandemic, Vaccination, Public Health |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wzbtod:280396&r=eur |
| By: | Montse Gomendi0 |
| Abstract: | The information provided by international surveys is essential to understand the strengths and weaknesses of the Spanish education system, since one of its unique features is the lack of national standardized evaluations. Historically, Spain has lagged behind most other European countries in terms of the rate of expansion of the education system, the increase in years of schooling and the lengthening of compulsory education. When convergence was eventually achieved, Spain continued to focus its efforts on increasing access to tertiary education and pre-school, to the extent that it has surpassed most European countries in these quantitative targets. Unfortunately, much effort has been placed on inputs with little regard for outcomes. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaeee:eee2023-35&r=eur |
| By: | Nöller, Marvin; Balleer, Almut |
| JEL: | E31 E52 C22 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc23:277638&r=eur |
| By: | Stefan Jestl (The Vienna Institute for International Economic Studies, wiiw); Roman Römisch (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | The paper analyses drivers of migration in carbon-intensive and non-carbon-intensive regions in the EU. Using a mix of econometric methods, such as spatial panel and spatial cross-sectional methods, as well as geographically weighted regressions on data for EU NUTS-2 and NUTS-3 regions, the results indicate that particularly carbon-intensive regions in Central and Eastern Europe are not only challenged by a potential decline in carbon-intensive employment but also by outward migration flows that could diminish their prospects for longer-term economic prosperity. From a policy point of view, the results indicate that policies focusing on the replacement of the lost jobs in carbon-intensive industries might not be enough for the carbon-intensive regions in Central and Eastern Europe. Instead, these regions need a simultaneous package of additional policies to improve their attractiveness. |
| Keywords: | carbon-intensive regions, green transition, regional migration |
| JEL: | Q50 R11 R23 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:wii:wpaper:236&r=eur |
| By: | Joan Monras; Eduardo Polo-Muro; Javier Vazquez-Grenno |
| Abstract: | This paper studies how fertility decisions respond to an improvement in job stability using variation from the large and unexpected regularization of undocumented immigrants in Spain implemented during the first half of 2005. This policy change improved substantially the labor market opportunities of affected men and women, many of which left the informality of house keeping service sectors toward more formal, stable, and higher paying jobs in larger firms (Elias et al., 2023). In this paper, we estimate the effects of the regularization on fertility rates using two alternative difference-in-differences strategies that compare fertility behavior of “eligible” and “non-eligible” candidate women to obtain the legal status, both on aggregate and at the local level. Our findings suggests that gaining work permits leads to a significant increase in women fertility. Our preferred estimates indicate that the regularization increased fertility rates among affected women by around 5 points, which is a 10 percent increase. |
| Keywords: | labor markets; stability; fertility; immigration policy |
| JEL: | J13 J61 K37 |
| Date: | 2023–11–14 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedfwp:97339&r=eur |
| By: | Janssen, Matthijs (Utrecht University); Wanzenböck, Iris (Utrecht University); Fünfschilling, Lea (CIRCLE, Lund University); Pontinakis, Dimitris (Joint Research Centre, Seville, European Commission) |
| Abstract: | There has been great interest in the rationales for transformative innovation policies (TIP), including those following a mission-oriented logic. However, few studies have investigated how public administration can effectively implement TIP. To study this, we first identify from existing literature four TIP governance tasks (creating legitimacy and leadership, coordination across levels/instruments/actors, reflexivity, resolving conflicts) and three distinct governance modes (administrative-, network-, system-oriented). In a comparative study, we then ask how the different governance modes shape the implementation of the TIP governance tasks, including the opportunities and boundaries related to a specific mode. Empirical insights are obtained from seven regional and national policy programmes across Europe with an ambition to promote system-wide transformation. Our analysis highlights similarities and differences between transformative policy designs, and identifies challenges related to implementing the TIP tasks within certain modes. The findings serve to inform and inspire the further uptake of transformative and mission-oriented innovation policies. |
| Keywords: | innovation policy; societal challenges; governance; public administration; transitions |
| JEL: | O32 O33 O38 |
| Date: | 2023–11–29 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2023_013&r=eur |
| By: | Dahlström, Petter (Royal Institute of Technology); Lööf, Hans (Royal Institute of Technology); Sjöholm, Fredrik (Research Institute of Industrial Economics); Stephan, Andreas (Linnaeus University) |
| Abstract: | The net-zero agreement on carbon emission from Paris 2015 gives a key role to fossil-free energy technologies with an expected multifold growth rate over the coming decades, when successively replacing oil, coal, and gas. In this paper, we delve into the EU’s competitive advantage in the evolving trade war in clean energy, investigate European strengths and weaknesses in innovation and production, and discuss the impact of the upcoming trade war on the global warming challenge. Our results show that the EU has a strong position in innovation capabilities in the strategic net-zero technologies. However, this is not matched by production capabilities: EU has only a few firms among the leading manufacturers in net-zero technologies. |
| Keywords: | energy geopolitics; net-zero technologies; patents; innovation |
| JEL: | F02 O18 Q50 R10 |
| Date: | 2023–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0495&r=eur |
| By: | Schmid, Ramona |
| JEL: | J16 J31 J38 J71 J78 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc23:277646&r=eur |
| By: | Marco A. Marini (Sapienza University of Rome); Samuel Nocito (Sapienza University of Rome) |
| Abstract: | We investigate whether climate activism favors pro-environmental consumption by examining the impact of Fridays for Future (FFF) protests in Italy on second-hand automobile transactions in the strike-affected areas. Leveraging data on 10 million automobile transactions occurring before and after FFF, we exploit rainfall on the day of the events as exogenous source of attendance variation. Our findings reveal that local participation to the events is associated with a reduction in the per capita CO2 emissions of purchased cars, an uptick in the market share of low-emission vehicles and a corresponding decrease in the market share of high-emission counterparts. Notably, we uncover heterogeneous effects across gender and age groups. Results are primarily driven by a rise in the purchase of petrol cars, with electric cars contributing to a lesser extent, thereby displacing the demand for diesel vehicles. This evidence indicates substitution effects between goods prospectively subject to more stringent environmental regulations toward those obeying milder restrictions. The study provides valuable insights into the mechanisms underlying individuals’ consumption choices under the influence of social protests. |
| Keywords: | Fridays for Future, climate activism, green consumption, carbon emissions |
| JEL: | D12 D91 Q50 Q53 R41 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2023.24&r=eur |
| By: | Clark, Andrew E. (Paris School of Economics); Kozák, Michal (University of Oslo) |
| Abstract: | The distribution of job quality across workers and the change in job quality over time can be measured by job-domain indices or single-index job-satisfaction. This paper takes both approaches to establish the evolution of job quality over a period from the mid-1990s to the mid-2010s in 13 OECD countries, using data from the three latest ISSP Work Orientation modules. The rise in job satisfaction from 1997 to 2005 has continued through 2015, despite the 2008 Great Recession. This improvement is also found in most of the job-outcome domains, despite some evidence of work intensification. Job security was the most-important job aspect every year, and the percentage of workers with secure jobs rose over time. There has been a small rise in the dispersion of job satisfaction, but the good news regarding better job quality over a 20-year period does not seem to be dampened by large changes in its inequality. |
| Keywords: | job quality, job satisfaction, ISSP |
| JEL: | J28 J3 J81 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16597&r=eur |
| By: | Jens-Uwe Franck; Till Seyer |
| Abstract: | If an antitrust fine has been imposed on a company, the question of managerial recourse liability arises. We present court cases from the Netherlands, the UK, and Germany, in part denying managerial liability and claiming that it would undermine the fines’ deterrent effect. We analyse whether managerial liability should be limited or banned to prevent, on the one hand, the company or its shareholders being under-deterred or, on the other hand, the company’s management being over-deterred. Regarding the former, we argue that a ban of managerial liability – which would have to be accompanied by a ban on any other type of internal financial sanction – would take an indispensable governance instrument out of the hands of shareholders. This holds true despite the availability of D&O insurance. Regarding the latter, we identify risks of over deterrence but also see mitigating mechanisms at work. We conclude that, while a restriction on managerial liability may be regarded a reasonable measure, this should be viewed as lying within the discretion of company law legislation and jurisprudence but not as a mandatory implication of antitrust fining laws. |
| Keywords: | antitrust law, cartels, antitrust fines, deterrence, managerial liability, antitrust compliance, D&O insurance, EU law, principle of effectiveness |
| JEL: | K21 K22 K42 L40 |
| Date: | 2023–05 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2023_429v2&r=eur |
| By: | Rodríguez-Pose, Andrés; Bartalucci, Federico |
| Abstract: | The impacts of climate change are unevenly distributed across territories. Less is known about the potential effects of climate policies aimed at mitigating the negative consequences of climate change while transitioning economies towards low-carbon standards. This paper presents an analytical framework for identifying and assessing the regional impacts of the green transition. We develop a Regional Green Transition Vulnerability Index, a composite measure of the regional vulnerability of European regions to the socio-economic reconfigurations prompted by the green transition. The index brings to light strong regional variations in vulnerability, with less developed, peri-urban and rural regions in Southern and Eastern Europe more exposed to the foreseeable changes brought about by the green transition. We also draw attention to the potential rise of pockets of growing ‘green’ discontent, especially if the green transition contributes, as is likely to be the case, to leaving already left-behind regions further behind. |
| Keywords: | green transition; environment; left-behind regions; development trap; European Union |
| JEL: | O56 R11 |
| Date: | 2023–11–18 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120536&r=eur |
| By: | Bernat Mallén (AQR-IREA University of Barcelona) |
| Abstract: | In this paper, I investigate the effect of the introduction of videoon-demand (VoD) platforms on the preferences for different language versions of movies. By using survey data gathered from 2014 to 2019 in the bilingual region of Catalonia (Spain), I explore whether the exposure to VoD affected the likelihood of preferring the Catalan, Spanish or original versions. I found a negative effect on the preference for Catalan and Spanish versions, although this was not significant in all the specifications. Regarding the impact of VoD exposure on the preference for original versions, I identified a positive, significant and very robust effect in all the specifications. The effect is heterogeneous and varies depending on an individual’s language, education level and age. These results prove that people adapt their preferences to what they experience, so the introduction of a new technology into a market (in the case of this paper, the movie market) can rapidly change the preferences of consumers, who accustom, or accommodate, their preferences to the new paradigm. |
| Keywords: | Multilingualism, Video-on-demand, Dubbing, Original version, Preferences JEL classification: L82, O33, Z13 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:aqr:wpaper:202308&r=eur |
| By: | Klaus Gründler; Niklas Potrafke; Timo Wochner |
| Abstract: | The beauty premium in politics shows that attractive politicians are more likely to get elected to ofce than less attractive politicians, but little is known about whether beauty also shapes the behavior of members of parliament (MPs) once in ofce. We use newly collected data on the attractiveness and parliamen tary activity of 866 MPs in the German Bundestag over the period 2009-2017 to examine the link between beauty and parliamentary work. Our results show that attractive MPs are more likely to be absent from parliament and less active in labor-intensive background work than others. Consistent with our hypothesis of higher outside earnings and appear more often on television talk shows. Our results suggest that attractive MPs re-allocate their time from parliamentary work to other activity that increases their income and popularity. |
| Keywords: | attractiveness of politicians, parliamentary activity, members of parliament, political economy, |
| JEL: | D72 H11 J45 J70 K40 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ifowps:_404&r=eur |
| By: | Muellbauer, John; De Bonis, Riccardo; Liberati, Danilo; Rondinelli, Concetta |
| Abstract: | Most econometric policy models at central banks and elsewhere use an aggregate consumption function based on textbook theory. This assumes that the 'representative household' owns only an aggregate form of wealth, proxied by net worth, and never faces borrowing or liquidity constraints or transactions costs. This is inconsistent with the modern view of heterogeneous agent behaviour under uncertainty in incomplete markets. Based on data from 1980 to 2019, the conventional formulation for an aggregate consumption function for Italy is strongly rejected. The results show that the marginal propensities to consume out of household deposits and semi-liquid financial assets such as T-bills and mutual funds are greater than for less liquid assets. A significant positive effect from housing wealth is substantially offset by the negative effect of affordability measured by the house price-to-income ratio. |
| Keywords: | financial wealth, liquid and illiquid assets, permanent income, housing wealth |
| JEL: | E21 E32 E44 E51 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:amz:wpaper:2023-27&r=eur |
| By: | Strunz, Franziska; Gödl, Maximilian |
| JEL: | C22 C53 E37 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc23:277707&r=eur |
| By: | Linsenmeier, Manuel |
| Abstract: | This study examines the role of temperature as a driver of seasonal economic cycles. The study first presents a novel dataset of seasonal temperature and seasonal GDP. Stylised facts show that seasonal economic cycles are much more diverse than previous research suggested. The study then attributes seasonal economic cycles to temperature variability. For causal identification, the study proposes a novel econometric approach that accounts for expectations. The results suggest that seasonal temperature has a statistically significantly positive and economically large effect on seasonal GDP. Overall, a substantial share of seasonality in GDP timeseries appears to be due to weather. For a subsample of European countries, the effect of temperature can be attributed to sectors that are relatively more exposed to ambient environmental conditions. Projections of climate change suggest that seasonal economic cycles might substantially change in the future, with larger cycles expected for about half of the countries in the sample. |
| Keywords: | seasonal cycle; temperature variability; climate change; quarterly fluctuations; seasonality; Grantham Foundation for the Protection of the Environment; 2300776; Elsevier deal |
| JEL: | Q54 E32 E23 |
| Date: | 2024–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120640&r=eur |
| By: | Merino, Fernando; Prats, María a.; Prieto-Sánchez, Carlos-Javier |
| Abstract: | The aim of this paper is to analyze at what extent the connectivity of small localities is a determinant of their demography. Specifically, we pay attention to three factors: the evolution of the population; the distance, measured both in kilometres and travel time, to the province capital, the usual city where the largest set of services is available; and finally, the coverage of different kinds of broadband services (from ADSL or 3.5 G to the fastest ones FTTH) in rural areas. An econometric model was estimated where the dependent variable captures the increase of inhabitants along 2017–2020 of the 5955 Spanish municipalities with a population between 101 and 10, 000 inhabitants (73.3 % of all municipalities). The results point out to the following facts: digital connectivity of small localities is a determinant of their demography, whatever the technology used, but physical distance remains being a significant factor on the population growth (both if it is measured of physical distance or travelling time) to explain the population growth of each locality. |
| Keywords: | internet connexions; broadband; sustainability; territorial cohesion |
| JEL: | J1 |
| Date: | 2024–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120866&r=eur |
| By: | Rogalski, Timo |
| Abstract: | The dissertation's central focus lies in investigating the influence of temporal, industry-specific, firm-specific, and project-specific factors on the stock market risk and return associated with corporate blockchain announcements. Structured into three chapters, the research employs theoretical frameworks and empirical analyses to uncover nuanced insights. Chapter 2, anchored in signaling theory, examines the general market impact of corporate blockchain announcements, considering temporal factors, cryptocurrency hype phases, and differences between US and EU-based companies. It reveals significant positive stock market returns associated with blockchain news, amplified by project success, business-relatedness, and cryptocurrency hype periods. Chapter 3 extends the analysis to industry-level factors, revealing that firms in the Information Technology industry benefit more from blockchain announcements. It explores additional project-level effects, such as blockchain partnerships and consortium joinings, and assesses their impact on market risk. The findings suggest that blockchain announcements do not substantially alter a firm's risk profile. Chapter 4 focuses on specific blockchain use cases, emphasizing environmental, social, and governance (ESG) issues. It uncovers significant positive market reactions to ESG-related blockchain announcements and explores shareholder returns in supply chain management and finance-related use cases. The study suggests that shareholders react more favorably to project-specific announcements and less favorably to initiatives involving external IT service providers. By thoroughly analyzing diverse factors, this dissertation contributes to the ongoing academic discourse on the valuation of blockchain technology, offering a comprehensive understanding of the dynamics shaping corporate market value and risk in the era of blockchain adoption. |
| Date: | 2023–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:141778&r=eur |
| By: | Ubedullah Khoso; Eric Tafani (AMU IAE - Institut d'Administration des Entreprises (IAE) - Aix-en-Provence - AMU - Aix Marseille Université); Asim Qazi Shabir |
| Abstract: | Scarcity appeals in marketing have long captured the attention of scholars and practitioners, yet we know little about their effectiveness across different cultures. Drawing on cultural differences (i.e., self-concept, need for uniqueness, and susceptibility to normative influence), the authors investigated the impact of culture on the effectiveness of (demand vs. supplybased) scarcity appeal. The authors also studied the impact of product visibility while considering the moderating effect of culture on the effectiveness of scarcity appeals (demand vs. supply-based). In doing so, the authors conducted an experimental research based on the participants from Pakistan and France. The authors found that (i) demand-based scarcity appeals were more effective than supply-based scarcity appeals in Eastern cultures, whereas the reverse was found in Western cultures; (ii) such moderating role of culture was stronger for high visibility products as compared to low visibility products; and (iii) the respective prevalence of interdependent (vs. independent) self and its subsequent impact on susceptibility to normative influence (SNI) and need for uniqueness (NFU) mediated the moderating role of culture. The authors concluded by discussing these findings' key theoretical contributions and managerial implications and suggesting future research directions. |
| Keywords: | Ad effectiveness, scarcity appeal, culture, self-construal, need for uniqueness, susceptibility to normative influence, product visibility |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04261221&r=eur |
| By: | Ringel, Marc |
| Abstract: | Climate change entails many situations of tele-coupling. We analyze an example in the field of European climate and energy policy. The EU aims at an almost full decarbonisation of its economy by 2050. Achieving this objective asks for transforming the energy sectors of EU Member States. These are responsible for 80% of carbon emissions. Further to this policy coupling, the EU transformation objectives have to be implemented by the Member States, regions and local actors. This proves especially complex in the field of energy efficiency. Here, a variety of policy instruments and actors are in place. In our contribution, we investigate in the question how multi-level governance arrangements in the energy efficiency field are designed. We focus on Germany as example for a federal state setting. Our review method comprises literature content analysis, primary sources, expert interviews and an in-depth screening of the German Sustainable Energy Action Plans. We find that formal vertical coordination has been successfully backed up by horizontal and especially informal governance mechanisms, leading to a model of polycentric governance. This model might serve as blueprint for other multi-level governance arrangements. Yet, we find that the “last mile” of this coordination still needs strengthening: Local actors need more active engaging and empowering to reap the full potential of the governance arrangements. |
| Date: | 2023–11–28 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:141593&r=eur |
| By: | Odersky, Moritz; Löffler, Max |
| JEL: | Q52 Q54 D30 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc23:277684&r=eur |
| By: | Filippo Pallotti; Gonzalo Paz-Pardo; Jiri Slacalek; Oreste Tristani; Giovanni L. Violante |
| Abstract: | We measure the heterogeneous welfare effects of the recent inflation surge across households in the Euro Area. A simple framework illustrating the numerous channels of the transmission mechanism of surprise inflation to household welfare guides our empirical exercise. By combining micro data and aggregate time series, we conclude that: (i) country-level average welfare costs—expressed as a share of 2021–22 income—were larger than a typical recession, and heterogeneous, e.g., 3% in France and 8% in Italy; (ii) this inflation episode resembles an age-dependent tax, with the elderly losing up to 20%, and roughly half of the 25–44 year-old winning; (iii) losses were quite uniform across consumption quantiles because rigid rents served as a hedge for the poor; (iv) nominal net positions are the key driver of heterogeneity across-households; (v) the rise in energy prices generated vast variation in individual-level inflation rates, but unconventional fiscal policies were critical in shielding the most vulnerable households |
| JEL: | E31 E58 G51 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31896&r=eur |
| By: | Dirk Krueger; Egor Malkov; Fabrizio Perri |
| Abstract: | We use panel data from the Italian Survey of Household Income and Wealth from 1991 to 2016 to document empirically what components of the household budget constraint change in response to shocks to household labor income, both over shorter and over longer horizons. We show that shocks to labor income are associated with negligible changes in transfers and non-labor income components, modest changes in consumption expenditures, and large changes in wealth. We then split the sample in households which do not own business or real estate wealth, and households who do. For the first group, we find that consumption responses are more substantial (and increasing with the horizon of the income shock) and wealth responses are much smaller. We show that, for this group, a version of the standard PIH framework that allows for partial insurance against even permanent income shocks can explain well the consumption and wealth responses, both at short and long horizons. For the second group the standard framework cannot explain the large changes in wealth associated with income shocks. We conclude that models which include shocks to the value of household wealth are necessary to fully evaluate the sources and the consequences of household resource risk. |
| JEL: | D99 E21 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31894&r=eur |
| By: | OECD |
| Abstract: | This case study assesses the strategies of the Museum of Lisbon as well as the related policies of Lisbon City Council to support local development. Through its five branches located across the city and its diverse partnerships with local stakeholders, the Museum of Lisbon has cemented its role as a community anchor institution. This case study focuses on the five dimensions featured in the OECD-ICOM Guide for Local Governments, Communities and Museums, namely the role of museums in: i) economic development, ii) urban regeneration, iii) education and creativity, iv) inclusion, health and well-being, and on iv) ways to mainstream the role of museums in local development. |
| Keywords: | cultural heritage, culture, Lisbon, local development, museum, Portugal |
| JEL: | H41 O10 Z18 |
| Date: | 2023–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:oec:cfeaaa:2023/22-en&r=eur |
| By: | Mr. Damien Capelle; Mr. Divya Kirti; Mr. Nicola Pierri; Mr. German Villegas Bauer |
| Abstract: | Using self-reported data on emissions for a global sample of 4, 000 large, listed firms, we document large heterogeneity in environmental performance within the same industry and country. Laggards—firms with high emissions relative to the scale of their operations—are larger, operate older physical capital stocks, are less knowledge intensive and productive, and adopt worse management practices. To rationalize these findings, we build a novel general equilibrium heterogeneous-firm model in which firms choose capital vintages and R&D expenditure and hence emissions. The model matches the full empirical distribution of firm-level heterogeneity among other moments. Our counter-factual analysis shows that this heterogeneity matters for assessing the macroeconomic costs of mitigation policies, the channels through which policies act, and their distributional effects. We also quantify the gains from technology transfers to EMDEs. |
| Keywords: | Climate Change; Productivity; Technology Adoption; Capital Vintages; Emissions |
| Date: | 2023–11–24 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2023/242&r=eur |
| By: | Clément Anne; Cyril Chalendard; Ana Fernandes; Bob Rijkers; Vincent Vicard |
| Abstract: | To identify transactions at risk of tariff evasion, this paper matches export transaction data from France with import transaction data from Madagascar using container identifiers. Reporting discrepancies between exporters and importers are prevalent but small, with over two-fifths of importers reporting in a way that increases their tariff liability. Yet, aggregate tariff revenues are 24 percent lower due to discrepancies. These revenue losses are highly concentrated: the top five evaders account for three-quarters of all tariff revenue losses and larger shipments are more at risk of evasion. Tariff enforcement in Madagascar is ineffective and only marginally mitigates revenue losses. |
| Keywords: | Tax Evasion;Mirror Statistics;Trade;Corruption;Exporters;Importers;Tariffs |
| JEL: | F14 H26 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:cii:cepidt:2023-22&r=eur |
| By: | Oscar Claveria (AQR-IREA, University of Barcelona); Petar Soric (University of Zagreb) |
| Abstract: | This paper investigates the adjustment of government redistributive policies in Scandinavian countries following changes in income inequality over the period 1980-2021. We use two complementary measures of inequality: the share of total income accruing to top percentile income holders, as well as the ratio of the share of total income accruing to top decile income holders divided by that accumulated by the bottom 50%. We find that the sign of the relationship between inequality and redistribution is mostly positive and time-varying. We also find significant evidence that redistributive measures in the form of taxes and government transfers adjust more rapidly in an upward than a downward direction, with the exception of Norway. We obtain a significant long-run relationship between both variables in Iceland and Sweden, while in Norway it just holds for the short run. |
| Keywords: | Income inequality, Redistributive policy, Taxes, Government transfers JEL classification: C50, D30, E62, H50 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:aqr:wpaper:202306&r=eur |
| By: | Nilsson, Lars (DG Trade) |
| Abstract: | Preferential rules of origin (RoO) are an integral and necessary part of preferential trading arrangements, as control of the origin of the preferentially imported goods is needed to prevent trade deflection. But complying with RoO are associated with costs. These can come in the form of burden to deal with the necessary administrative requirements and in terms of increased costs of imported intermediates should the RoO lead to a distortion of sourcing of inputs. This paper matches the RoO under the EU-Canada Comprehensive Economic and Trade Agreement with the exact products they apply to, which is novel. It further provides descriptive statistics on preference eligible trade, information on the value of potential duty savings and on the associated preference utilisation rates (PUR) by RoO. The empirical part of the paper conducts a comparative analysis of the impact of the various RoO on the PUR in EU trade with Canada for the 2018-2021 period. It also examines whether the same RoO has a different impact on the PUR depending on the direction of trade (EU imports vs. EU exports) |
| Keywords: | RoO; preference utilisation rates; CETA |
| JEL: | F13 F14 |
| Date: | 2023–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:ris:dgtcen:2023_003&r=eur |
| By: | Matteo Foglia (Department of Economics and Finance, University of Bari ``Aldo Moro", Italy); Vasilios Plakandaras (Department of Economics, Democritus University of Thrace, Komotini, Greece); Rangan Gupta (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Elie Bouri (School of Business, Lebanese American University, Lebanon) |
| Abstract: | Measuring risk lies at the core of the decision-making process of every financial market participant and monetary authority. However, the bulk of literature treats risk as a function of the second moment (volatility) of the return distribution, based on the implicit unrealistic assumption that asset return are normally distributed. In this paper, we depart from centred moments of distribution by examining risk spillovers involving robust estimates of second and third moments of model-implied distributions of stock returns derived from the quantile autoregressive distributed lag mixed-frequency data sampling (QADL-MIDAS) method. Using a century of data on the stock indices of the G7 and Switzerland over the period May 1917 to February 2023 and applying the multilayer approach to spillovers, we show the following. Firstly, the risk spillover among stock markets is significant within each layer (i.e. volatility and skewness) and across the two layers. Secondly, geopolitical risks have the power to shape both risk layer values, based on an out-of-sample forecasting exercise involving machine-learning methods. Interestingly, the multi-layer approach offers a comprehensive and nuanced view of how risk information is transmitted across major stock markets, while global measures of geopolitical risk affect risk spillovers at shorter horizons up to 6 months, while, at longer horizons, the forecasting exercise is dominated by market-specific characteristics. |
| Keywords: | Risk spillover, advanced stock markets, multi-layer spillover approach, machine learning, geopolitical risks, forecasting |
| JEL: | C22 C32 C53 G15 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:pre:wpaper:202337&r=eur |
| By: | Joseph S. Briggs; David Cesarini; Sean Chanwook Lee; Erik Lindqvist; Robert Östling |
| Abstract: | We investigate the impact of financial windfalls on household portfolio choices and risk exposure. Exploiting the randomized assignment of lottery prizes in three Swedish lotteries, we find a windfall gain of $100K leads to a 5-percentage-point decrease in the risky share of household portfolios. We show theoretically that negative wealth effects are consistent with both constant and decreasing relative risk aversion and analyze how our empirical estimates help distinguish between competing models of portfolio choice. We further show our results are quantitatively aligned with the predictions of a calibrated dynamic portfolio choice model with nontradable human capital and consumption habits. |
| JEL: | G11 G5 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31864&r=eur |
| By: | Reif, Julian |
| Abstract: | Die Buchungsplattform Airbnb ist zu einem relevanten Buchungskanal im Tourismus weltweit geworden. Mit Blick auf die vielfältigen sozio-ökonomischen Auswirkungen der Plattform ist die Kenntnis über die räumliche Lage des Airbnb-Angebots von hoher Bedeutung. Für Deutschland gibt es bisher keine umfassende, auf die räumliche Verteilung des Airbnb-Angebotes abzielende, Analyse. Der vorliegende Artikel untersucht daher die räumliche Konzentration von Airbnb-Angeboten in Deutschland und den vier einwohnerstärkstem Städten Deutschlands. Erstmals werden neben visuellen Analysen auch mit Hilfe von räumlicher Statistik Maßzahlen zur Airbnb-Konzentration vorgelegt. Dabei wird die Methodik der räumlichen Autokorrelation verwendet. Die Ergebnisse zeigen, dass es eine starke positive räumliche Konzentration des Airbnb-Angebots gibt. Bundesweit zeigen sich über 2.200 statistisch signifikante Airbnb-Hotspots, die sich i. d. R. an der Verteilung der deutschen Großstädte orientieren. Der Blick auf die Millionenstädte ergibt ebenfalls eine starkes räumliches Konzentrationsmaß. In Berlin sind die Airbnb-Listings am stärksten konzentriert, gefolgt von Köln, Hamburg und München. Die Ergebnisse dienen als Grundlage für weitere Forschung und als Ansatz für planerische Fragestellungen. |
| Abstract: | Airbnb has become a relevant booking channel for tourism. As the socio-economic impacts of the platform are much discussed, knowledge about the spatial location of Airbnb-Listings is of high importance. However, so far there is no comprehensive analysis of the spatial distribution of Airbnb offers in Germany. This paper, therefore, examines the spatial concentration of Airbnb in Germany and the four largest cities. For the first time, measures of Airbnb concentration are presented using spatial autocorrelation. Findings reveal that there is a strong spatial concentration of Airbnb-Listings in Germany and the four major cities with over a million inhabitants. We found over 2, 200 statistically significant Airbnb hotspots, which are generally oriented towards the distribution of the major German cities. Furthermore, Airbnb offers are most concentrated in Berlin, followed by Cologne, Hamburg, and Munich. Results serve as a basis for further research and as an approach to planning issues. |
| Keywords: | Räumliche Autokorrelation, Moran's I, Airbnb-Listings, Big Data, Städtetourismus, Spatial Autocorrelation, Moran's I, Airbnb-Listings, Big Data, Urban Tourism |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ditfwp:280143&r=eur |
| By: | Guido Franco; Mauricio Hitschfeld; Álvaro Pina; Damien Puy |
| Abstract: | Using data on more than 150.000 non-financial companies operating in both manufacturing and services sectors around the world, we analyse the drivers of firm performance throughout the whole COVID cycle (until end 2021). We highlight three key results. First, if anything, larger and older firms did worse than smaller and younger ones in terms of revenues and investment spending, both during COVID-19 and the subsequent recovery. Even in sectors that were under scrutiny from a competition standpoint, such as technology and healthcare, larger firms did not systematically over-perform. Second, ex-ante financial strength attenuated the effects of the shock on revenues during the COVID cycle. Third, there is some evidence of debt overhang: firms that entered the crisis with a higher leverage ratio invested less than others, including on R&D, both in 2020 and in 2021, while firms that became more debt-burdened during the pandemic tended to record weaker investment spending during the recovery. These insights shed light on market power, competition, and more generally on the performance of the corporate sector since the start of COVID-19 pandemic. |
| Keywords: | competition, corporate sector, COVID-19, debt overhang, financial fragility, firm performance, firm size, investment, market power |
| JEL: | D25 G01 G32 L25 |
| Date: | 2023–12–12 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1779-en&r=eur |
| By: | Nicholas Martin Ford (Lund University); Kristin Ranestad (University of Oslo); Paul Sharp (University of Southern Denmark, CAGE, CEPR) |
| Abstract: | “Upper tail knowledge”, embodied by knowledge elites, has been suggested to be a driving force of industrialization and development, yet measuring it remains problematic. Despite some recent innovations, much empirical work continues to rely on measures of “average” or “non-upper tail” human capital such as literacy and years of schooling. We thus turn to per- haps unique sources from Denmark and Norway. From the early nineteenth century until after the Second World War, these countries had the tradition of publishing biographies of all high school graduates, usually 25 and 50 years after graduation. These were effectively mini-CVs covering entire careers, including work positions, travel, achievements, and more. We discuss these sources and their potential for furthering our understanding of the role of upper tail knowledge and human capital for development. Source criticism reveals strengths and weak- nesses, but importantly confirms promising perspectives for improving the measurement of upper tail knowledge. |
| Keywords: | Biographies, Denmark, Norway, human capital, source criticism, upper tail knowledge |
| JEL: | E24 I20 J24 N33 N34 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:hes:wpaper:0242&r=eur |
| By: | Endres, Lukas; Behringer, Jan; van Treeck, Till |
| JEL: | D1 D31 E21 R21 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc23:277689&r=eur |
| By: | Wanger, Susanne (Institute for Employment Research (IAB), Nuremberg, Germany) |
| Abstract: | "This research report presents updated results of the IAB Working Time Measurement Concept by Age Groups and Gender (AZR AG). This concept breaks down the macroeconomic results on forms of employment, working time and volume of work for women and men of different age groups using suitable reference statistics. On this basis, it is possible to trace, in particular, the crisis-related changes due to the COVID-19 pandemic concerning the development of employment as well as the hours worked by women and men up to the year 2022. The pandemic and the measures taken in this context had a significant negative impact on the labour market and the economy in Germany. The adjustment to the economic slump took place mainly through short-time work and other reductions in working hours. Thus, the volume of work, measured in employed persons' hours, fell by just under 4.9 per cent on average in 2020 compared to the previous year, and the hours worked per employed person fell by just under 4.2 per cent. The number of people in employment, on the other hand, has only decreased by 0.8 percent. This means that 5/6 of the decline in the volume of work was caused by the reduction in working hours per person in employment and 1/6 by the decline in employment. Overall, most of the findings published so far on the impact of the COVID-19 pandemic on the work situation of women and men point in a similar direction: women were particularly affected by the pandemic and its management. When it comes to the controversy of whether there was a temporary or possibly even persistent retraditionalisation of gender roles, the AZR AG results for hours worked in the period 2019 to 2022 show a mixed picture. In 2020, men's employment fell slightly more than women's (men -0.9%; women -0.7%). In the following years, employment increased again for both women and men, and it exceeded the prepandemic level again in 2022. However, the increases were significantly higher for men in the annual comparison 2022/2019 (men +1.2 %, women +0.2 %).The relative declines in annual working hours in the first year of the pandemic were more pronounced for women in terms of percentage (men -4.0%, women -4.4%). Even though working hours recovered somewhat from the slumps in the following year 2021, to a greater extent for women than for men, the massive slumps in working hours could not yet be recovered by 2022. Compared to before the Corona crisis, the percentage gap in annual working hours was higher for men (men -2.4%; women -1.4%). The decisive factor for this was the development of the internal structure, i.e. the ratio of fulltime and part-time employment. While the part-time rate increased among men, it decreased among women. This opposite development led to a lower working time deficit for women despite higher percentage reductions in working time for full-time, regular part-time and parttime jobs - because the part-time effect compensated for a large part of it. In contrast, the parttime effect increased the working time decreases for men. These developments in employment and working hours add up to the volume of work done. In the first year of the Corona pandemic, the volume of work for women fell by 5.0 per cent and for men by 4.9 per cent. In percentage terms, the decline was therefore somewhat greater for women. Despite the different developments in employment and annual working hours, the increases in the volume of work in 2021 were the same for men and women (+2.6%); in 2022 they were slightly higher for women. As a result of these developments, the volume of work in 2022 was still 1.2 per cent below the pre-Corona level for both women and men. Overall, it can be seen that the gender-specific differences in employment and working hours have increased to some extent. For example, the proportion of women in employment decreased and in the individual forms of employment, women had higher decreases in working hours than men. However, the high part-time rate of women continues to lead to a pronounced discrepancy in the hours worked by men and women, even though a trend towards more part-time work was noticeable among men." (Author's abstract, IAB-Doku) ((en)) |
| Keywords: | IAB-Open-Access-Publikation |
| Date: | 2023–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:iab:iabfob:202318&r=eur |
| By: | Dohmen, Dieter |
| Abstract: | Wie gehen Jugendliche mit schlechter werdenden Ausbildungschancen um? Eine detaillierte Analyse vorliegender Daten mit problematischen Befunden: Das Bildungsniveau sinkt, mehr Jugendliche jobben oder werden zu NEETUs (not in employment, education & training nor unemployed). |
| Keywords: | Jugendliche, Junge Erwachsene, Absolventen, Bildungsniveau, Betriebliche Ausbildung, Erwerbstätigkeit, Jugendarbeitslosigkeit, Deutschland |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fibsfo:278716&r=eur |
| By: | Sümeyra Atmaca; Karolin Kirschenmann; Steven Ongena; Koen Schoors |
| Abstract: | We employ proprietary data from a large bank to analyze how – during crisis – deposit insurance affects depositor behavior. Our focus is on Belgium where the government increased explicit deposit insurance coverage and implemented implicit deposit insurance arrangements. Estimating sorting below the respective insurance limits shows that depositors are aware of and understand these interventions. Difference-in-differences estimates show that both the increase in the explicit deposit insurance limit and the implicit deposit insurance had the intended calming effect on depositors. Close depositor-bank relationships mitigate these effects, while political trust seems to boost the general effectiveness of such government policies. |
| Keywords: | deposit insurance, coverage limit, implicit deposit guarantee, bank nationalization, depositor heterogeneity |
| JEL: | G21 G28 H13 N23 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10768&r=eur |
| By: | Alfred A. Haug; Tomasz Łyziak; Anna Sznajderska |
| Abstract: | We empirically explore monetary and fiscal policy coordination in Poland. In particular, we study whether the empirical effects of a government spending shock on output depend on the stance of monetary policy. We find no such dependency and conclude after various sensitivity checks, including to slack in the economy, that the government spending multiplier is not dependent on monetary policy or the business cycle. The cumulative multiplier reaches a peak value of 1.11 one year after a government spending shock: a 1 złoty increase in government spending, be it government consumption purchases or government investment or any combination of both, increases real GDP by 1.11 złoty. We identify a crowding-out effect of private investment, but it is relatively small and the overall impact of the government investment shock on GDP is above unity |
| Keywords: | government spending multiplier, monetary policy, local projections, Poland |
| JEL: | E62 E63 H50 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:sgh:kaewps:2022080&r=eur |
| By: | Roll, Stephan |
| Abstract: | Over the past 10 years, the de facto alliance of the governments of Egypt, Saudi Arabia and the United Arab Emirates has exercised significant influence over developments in the Middle East. The common goal has been to prevent democratic transformation, stop the rise of political Islam and counter the influence of Iran and Turkey over the region. But joint regional political interventions have so far had little success. Moreover, divergences of interest in bilateral relations between these authoritarian Arab states have come to light in recent months. The potential for conflict has become evident with regard to both economic and regional political issues and is only likely to increase in the future. For Germany and the European Union, these divergences of interest between the three countries offer an opportunity to pursue their own goals in the region. |
| Keywords: | Egypt, Saudi Arabia, UAE, Iran, Turkey, Germany, EU, Middle East, political Islam, democratic transformation |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpcom:279940&r=eur |
| By: | Bendiek, Annegret; Bund, Jakob |
| Abstract: | As high-level European Union (EU) policy documents call for investment in active cyber defence capabilities, the legal and political powers for their use remain ill-defined. To demonstrate their commitment to principles of responsible state behaviour and due diligence, the EU and its member states have a duty to establish the normative foundations for the use of active cyber defence measures ahead of their deployment, while carefully managing the risk of a gradual militarisation of the cyber and information domain. |
| Keywords: | cyber defence, cyberattacks, cyber power, ransomware, hackback, Due Diligence, Botnets, Defend Forward, US Cyber Command, Paul Nakasone, Hunt Forward Operation (HFO), EU Cyber Rapid Response Teams, CRRT, EUCDCC, Sovereign Cyber Effects Provided Voluntarily by Allies, SCEPVA, Permanent Structured Cooperation (PESCO), European Union (EU) |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpcom:279942&r=eur |
| By: | Fontrier, Anna-Maria; Kamphuis, Bregtje W.; Kanavos, Panos |
| Abstract: | Introduction: Access to medicines is a shared goal across healthcare stakeholders. Since health technology assessment (HTA) informs funding decisions, it shapes access to medicines. Despite its wide implementation, significant access variations due to HTA are observed across Europe. This paper elicited the opinions of European stakeholders on how HTA can be improved to facilitate access. Methods: A scoping review identified HTA features that influence access to medicines within markets and areas for improvement, while three access dimensions were identified (availability, affordability, timeliness). Using the Delphi method, we elicited the opinions of European stakeholders to validate the literature findings. Results: Nineteen participants from 14 countries participated in the Delphi panel. Thirteen HTA features that could be improved to optimise access to medicines in Europe were identified. Of these, 11 recorded a positive impact on at least one of the three access dimensions. HTA features had mostly a positive impact on timeliness and a less clear impact on affordability. ‘Early scientific advice’ and ‘clarity in evidentiary requirements’ showed a positive impact on all access dimensions. 'Established ways to deal with uncertainty during HTA’ could improve medicines’ availability and timeliness, while more ‘reliance on real-world evidence’ could expedite time to market access. Conclusions: Our results reiterate that increased transparency during HTA and the decision-making processes is essential; the use of and reliance on new evidence generation such as real-world evidence can optimise the availability of medicines; and better collaborations between regulatory institutions within and between countries are paramount for better access to medicines. |
| Keywords: | access; Delphi; Europe; health technology assessment; HTA; medicines; Springer deal |
| JEL: | I00 I10 I11 I18 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120537&r=eur |
| By: | Sanvi Avouyi-Dovi; Lorraine Chouteau; Lucas Devigne; Emmanuelle Politronacci |
| Abstract: | We build a model based on a structural dynamic approach to assess the Non-Observed Economy (NOE) over the period 1990-2019 in France. Our strategy is focused on a systematic scan of the potential causes of shadow economy. We show that the discrepancy between electricity consumption and real GDP growth rates is the main driver of the NOE. However, factors, such as drug offences and net shipments of banknotes also have significant effects on hidden activities even though their effects do not seem to be as strong. The NOE remains non-negligible in France, but its ratio, relative to the GDP, has decreased considerably in the 2000s. Finally, we observe strong links between the NOE index and the cash demand indicators. Thus, concordance tests show a noticeable synchronization between the NOE indexes (global and legal components) and the net issuance of banknotes, especially the total net issuance and the net issuance of the €50 and €200 denominations. Furthermore, the NOE indexes and GDP as well as self-employment are synchronized. We also observe positive correlations between the cyclical components of the total net issuance of banknotes and the estimated shadow economy indexes. Finally, there are some bi-directional causal relationships between the NOE indexes and the aggregate banknote demand. However, there is only a unidirectional causality between these indexes and the demand for Small denominations (€5, €10, €20). |
| Keywords: | Shadow Economy, Non-Observed Economy, Structural Equations, MIMIC Model |
| JEL: | C32 C51 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:bfr:banfra:930&r=eur |
| By: | Enzmann, Johannes; Ringel, Marc |
| Abstract: | The European Union aims at net-zero emissions by 2050. A key sector to achieve this goal is road transport, where emissions show no signs of reducing but continue to grow. A review of policies undertaken by EU member states and the G20 to reduce transport emissions reveals that both present and planned policies focus on binding supply-side measures, but offer only weak demand-side incentives. To address this imbalance, we developed a downstream, demand-side policy prototype through an expert interview design process. We call the prototype “cap-and-surrender” because it caps road emissions, and then allocates tradable emission allowances to individual vehicles that drivers surrender at each fill-up. Allowance pricing, both by the state and in the secondary market, is designed to incentivize decarbonization of the sector. Though the system would require significant investment, its revenue potential to the state should exceed this investment by several multiples. We discuss the potential economic, environmental and social impacts of the policy, as assessed by European transport experts. We find that the approach can deliver significant transport emission reductions in an effective and economically efficient manner. Through the appropriate design of national allocation rules and a gradual phasing in of cap and surrender, potential negative social consequences can be mitigated, and public acceptance of the policy promoted. |
| Date: | 2023–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:141745&r=eur |
| By: | DIJKSTRA Lewis (European Commission - JRC); JACOBS-CRISIONI Chris |
| Abstract: | This paper develops a methodology to define functional rural areas in the EU and seeks feedback on the method and the results. Functional rural areas are designed to cover all the territories outside functional urban areas. They are constructed in three steps. First, we define rural centres: they are the largest town or village within a 10-minute drive. Second, we create catchment areas by assigning every grid cell to the nearby rural centre that has the greatest gravitational pull. Third, we combine small and nearby catchment areas. We combine catchment area until each has at least 25, 000 inhabitants or is more than an hour’s drive away from the surrounding catchment areas. We also combine catchment areas that have centres that are less than a 30-minute drive apart, even if they have a population of at least 25, 000 inhabitants. Next, we show that functional rural areas are more harmonised in terms of population and area size than LAUs and NUTS-3 regions. The analysis of population change and of the distance to the nearest school shows that the results by functional area are less volatile than the results per LAU and show more detail than the results per NUTS-3 regions. Functional rural areas can inform policies that promote access to services and that respond to demographic change. They can also be used to inform transport infrastructure investments and public transport provision. |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:termod:202311&r=eur |
| By: | Bayerlein, Michael; Villarreal, Pedro A. |
| Abstract: | The "One Health" approach has found its way into political processes at various levels. The reason for this is the increased occurrence of zoonoses, i.e. infectious diseases that can be reciprocally transmitted between animals and humans. One Health is located at the intersection of human, animal, and ecosystem health on the one hand and calls for trans-sectoral solutions on the other. Numerous substantive issues beleaguer the practical design of the One Health approach as well as its implementation by the World Health Organization (WHO), regional institutions, and states. One Health is currently being addressed in three contexts in particular: in the negotiations on the pandemic treaty, in the EU's Global Health Strategy, and in the German government's strategy on global health. |
| Keywords: | One Health, Global Health Governance, EU Global Health Strategy, Pandemic Treaty, zoonoses, Antimicrobial resistance, AMR, International Health Regulations, IHR, Global Early Warning System, GLEWS+ |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpcom:279932&r=eur |
| By: | Camille Cornand (CNRS, GATE UMR 5824, F-69130 Ecully, France); Maria Alejandra Erazo Diaz (University of Bologna, Department of Economics); Béatrice Rey (Univ Lyon, Université Lyon 2, GATE UMR 5824, F-69130 Ecully, France); Adam Zylbersztejn (Univ Lyon, Université Lyon 2, GATE UMR 5824, F-69130 Ecully, France; research fellow at Vistula University Warsaw (AFiBV), Warsaw, Poland) |
| Abstract: | In a context-free preference situation, we conduct a laboratory experiment in which we test higher order ambiguity attitudes (order 2, order 3, and order 4) using a simple model with two states of nature (good and bad). We compare ambiguity attitudes when the random variable capturing ambiguity is introduced on the probability associated with the good state of nature versus the bad state of nature. In addition, in the case of order 3, we compare ambiguity attitudes when the random variable capturing ambiguity is presented as two harms (as usual in decision theory) versus one harm and one favor. We first establish the theoretical prediction of a general consistency of ambiguity attitudes. Ceteris paribus, these attitudes should remain invariant with respect to (i) the state of nature to which ambiguity is associated, and to (ii) the type of the change (harm or favor) in the probability to which ambiguity is associated. Our empirical results systematically contradict this formal prediction pointing to the behavioral importance of ambiguity framing. |
| Keywords: | Ambiguity attitudes; Higher order attitudes; Ambiguity aversion; Ambiguity prudence; Ambiguity temperance; Framing |
| JEL: | D81 C91 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:gat:wpaper:2318&r=eur |
| By: | Jose E. Gomez-Gonzalez (City University of New York-Lehman College (USA). Visiting Professor - Universidad de la Sabana); Jorge M. Uribe (Universitat Oberta de Catalunya, Barcelona (Spain)); Oscar M. Valencia (Fiscal Management Division, Inter-American Development Bank, Washington (USA).) |
| Abstract: | We investigate how a country’s economic complexity influences its sovereign yield spread with respect to the US. We analyze various maturities across 28 countries, consisting of 16 emerging and 12 advanced economies. Notably, a one-unit increase in the economic complexity index is associated to a reduction of about 87 basis points in the 10-year yield spread (p |
| Keywords: | Sovereign Credit Risk, Convenience Yields, Yield Curve, Government Debt, Double-Machine-Learning, XGBoost. JEL classification: F34, G12, G15, H63, O40. |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:ira:wpaper:202315&r=eur |
| By: | Ali-Yrkkö, Jyrki; Kuosmanen, Natalia |
| Abstract: | Abstract This report examines the development and composition of Finland’s international trade in services compared to other countries. The findings reveal a substantial growth in Finland’s service exports, though at a slower pace than the EU average. Different countries have specialized in various types of services. Finland stands out for its prominent presence in IT services and software, while Sweden specializes in music services, and Denmark in maritime transport services. Both Finland and Denmark have focused their service exports in specific areas. In the future, diversifying the range of service exports is crucial. |
| Keywords: | Comparison, Exports, Internationalization, Imports, Service |
| JEL: | F14 L8 |
| Date: | 2023–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:rif:report:142&r=eur |
| By: | Holtemöller, Oliver; Kozyrev, Boris |
| JEL: | C22 C45 C53 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc23:277688&r=eur |
| By: | COULIBALY, Niénéyéri Mamadou |
| Abstract: | The aim of this study is to analyse trade between the member countries of the West African Economic and Monetary Union (WAEMU) and those of the European Union (EU) pre-Brexit over the period 2014-2019. It estimates a gravity model based on panel data. Three econometric estimation techniques are used : the WITHIN method, the Generalised Least Squares (GLS) method and the Hausman and Taylor (HT) method. These different estimation techniques are then compared to determine which is the most appropriate. The data used are secondary data from several sources : the International Monetary Fund (World Economic Outlook), the World Bank (World Development Indicators), the United Nations (UN Comtrade) and the ephemeride website. The results show that trade between these two groups of countries is positively and significantly influenced by income in WAEMU countries, infrastructure in WAEMU countries and population in EU countries. They also show that when an EU country is landlocked, its trade flows with WAEMU countries are reduced, while at the same time, the landlocked status of a WAEMU country does not affect its trade with EU countries. Variables such as the bilateral real exchange rate, distance, language and colonial links were found to be insignificant. |
| Keywords: | Trade, trade flows, gravity model, EU, WAEMU and Brexit |
| JEL: | C13 C33 F10 F15 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119277&r=eur |
| By: | Koetter, Michael; Nguyen, Huyen |
| Abstract: | This paper assesses the progress made towards the creation of the European Banking Union (EBU) and the evolution of the banking industry in the European Union since the financial crisis of 2007. We review major regulatory changes pertaining to the three pillars of the EBU and the effects of new legislation on both banks and the real economy. Whereas farreaching reforms pertaining to the EBU pillars of supervision and resolution regimes have been implemented, the absence of a European Deposit Scheme remains a crucial deficiency. We discuss how European banks coped with recent challenges, such as the Covid-19 pandemic, a high inflation environment, and digitalization needs, followed by an outlook on selected major challenges lying ahead of this incomplete EBU, notably the transition towards a green economy. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwhstu:280432&r=eur |
| By: | Felix Kersting (HU Berlin) |
| Abstract: | This paper examines the consequences of a government mimicking the policy of its competitor by studying the introduction of the welfare state in 19th century Germany. The reform conducted by the conservative government targeted blue-collar workers and aimed to reduce the success of the socialist party. The result based on a difference-in-differences design shows that the socialist party benefited in elections due to the reform. The analysis of the mechanism points to the socialist's issue ownership by strengthening its reform orientation, which voters followed. The results are not driven by other political and economic channels related to the reform. |
| Keywords: | welfare state; socialism; government; opposition; issue ownership; voting behavior; Germany; |
| JEL: | D74 H53 I38 N44 P16 |
| Date: | 2023–11–09 |
| URL: | http://d.repec.org/n?u=RePEc:rco:dpaper:448&r=eur |
| By: | Chen, Natalie (University of Warwick); Novy, Dennis (University of Warwick); , Perroni, Carlo (University of Warwick); Chern Wong, Horng Chern (Stockholm University) |
| Abstract: | Using firm-level data from France, we document that the shift of economic activity from manufacturing to services over the last few decades has been urban-biased : structural change has been more pronounced in areas with higher population density. This bias can be accounted for by the location choices of large services firms that sort into big cities and large manufacturing firms that increasingly locate in suburban and rural areas. Motivated by these findings, we estimate a structural model of city formation with heterogeneous firms and international trade. We find that agglomeration economies have strengthened for services but weakened for manufacturing. This divergence is a key driver of the urban bias but it dampens aggregate structural change. Rising manufacturing productivity and falling international trade costs further contribute to the growth of large services firms in the densest urban areas, boosting services productivity and services exports, but also land prices. |
| Keywords: | Agglomeration ; Cities, Export ; Firm Sorting ; Manufacturing ; Productivity ; Services ; Trade Costs |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:warwec:1484&r=eur |
| By: | Maihold, Günther; Zilla, Claudia |
| Abstract: | The summit in Brussels on 17-18 July will mark the end of a long eight-year hiatus in bi‑regional meetings between the European Union (EU) and the Community of Latin American and Caribbean States (CELAC). Between 1999 and 2015, conferences were held every two or three years. Since the last conference, the international environment and regional contexts on both sides of the Atlantic have changed significantly. Brazil's return to CELAC and the new Lula government's efforts to reactivate the Union of South American Nations (UNASUR) have given the region a new impetus, which was reflected at the respective summits of the two organisations in Buenos Aires in January and Brasília in May. In June, the European Commission presented a new agenda for the EU's relations with Latin America and the Caribbean (LAC) that clearly shows Europe wants to intensify bi-regional cooperation. This has a chance of succeeding if summit diplomacy is approached in a spirit of renewal - not revival - and combined with substantive thematic cooperation and vibrant bilateral relations. |
| Keywords: | European Union (EU), Community of Latin American and Caribbean States (CELAC), Union of South American Nations (UNASUR), Latin America and the Caribbean (LAC) |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpcom:279923&r=eur |
| By: | Juhana Hukkinen (Monetary Policy and Research Department of Bank of Finland); Matti Viren (Monetary Policy and Research Department of Bank of Finland & Economics Department of University of Turku) |
| Abstract: | The failure to predict the surge in inflation in 2021 raises questions about whether we are better equipped to anticipate a future decline in inflation. What tools do we intend to use for predicting the trajectory of inflation? Are we still primarily relying on survey data regarding inflation expectations, and are we still employing a Calvo-type structure to model inflation, in which only the intensive margin (the size of price increases) adjusts in response to changes in demand and supply? We would like to emphasize that our highly disaggregated consumer price data for the Euro area, consisting of 280 commodity categories, strongly suggests that price increases (inflation) are influenced not only by aggregate trends but also by sector-specific developments that result in state-dependent price adjustments. These factors may lead to more volatile fluctuations in the inflation rate. Furthermore, these reactions do not appear to be entirely symmetric when it comes to rising and falling inflation. When the inflation rate is close to zero, the role of state-dependent pricing is diminished, and nonlinearities become less significant. |
| Keywords: | inflation, state-dependent pricing, menu costs |
| JEL: | D22 E31 F41 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:tkk:dpaper:dp163&r=eur |
| By: | Louise Caron; Mathieu Ferry; Mathieu Ichou |
| Abstract: | Les études sur la mobilité sociale, en France comme à l’étranger, montrent la forte inertie des positions sociales : la position sociale des parents constitue indéniablement un déterminant fort de celle de leurs enfants. Ces mécanismes ont cependant principalement été examinés pour la population générale. Cette reproduction est-elle moins forte, similaire ou plus forte au sein des familles immigrées ? À partir des données de l’enquête TeO2, ce travail a deux objectifs : décrire les positions sociales des immigré·es et de leurs enfants, et étudier leurs évolutions d’une génération à l’autre. Nous souhaitons ainsi décrire la diversité des positions et de la mobilité sociales des immigré·es et de leurs enfants, en les comparant à la population majoritaire. Pour cela, nous construisons une nomenclature multidimensionnelle des positions sociales qui distingue, au sein des classes moyennes et supérieures, une fraction à dominante économique et une fraction à dominante culturelle, et au sein des classes populaires, une fraction stabilisée et une fraction précaire. Les résultats donnent à voir la variation des positions sociales des individus en fonction de leur génération migratoire, de leur origine et de leur sexe, et à l’intérieur même des groupes définis par ces trois variables. Nos analyses portent également une attention particulière au poids de l’origine sociale. Les enfants d'immigré·es font plus souvent l’expérience d’une mobilité sociale ascendante. Ces trajectoires de mobilité ascendante s’expliquent en grande partie par les origines sociales nettement moins favorisées des enfants d’immigré·es par rapport à la population majoritaire. |
| Keywords: | classe sociale, classe moyenne, classe populaire, classe supérieure, descendant d'immigrés, immigré, mobilité sociale, origine sociale, reproduction sociale, Enquête TeO2, France, CLASSE OUVRIERE / WORKING CLASS, MOBILITE SOCIALE / SOCIAL MOBILITY, CLASSE SOCIALE / SOCIAL CLASSES, DESCENDANTS D'IMMIGRES / DESCENDENTS OF IMMIGRANTS, IMMIGRE / IMMIGRANTS, ORIGINE SOCIALE / SOCIAL ORIGIN, FRANCE / FRANCE, CLASSE MOYENNE / MIDDLE CLASS, CLASSE DIRIGEANTE / RULING CLASS |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:idg:wpaper:008qeywbu9wft_qnx1hj&r=eur |
| By: | MOLICA Francesco (European Commission - JRC) |
| Abstract: | The paper presents a critical assessment of EU Cohesion Policy’s rationale and specific features through the lenses of theories loosely referred to as ‘new industrial policy’. Theoretical work in this areas is important in order to clarify the role of Cohesion Policy in the context of the current revival of industrial policies and their growing importance for Europe’s economic, geopolitical, technological and climate ambitions. The paper explores the main challenges Cohesion Policy should address in order to fully embrace the experimentalism and directionality entailed in new industrial policy, going beyond the limitations of Smart Specialisation Strategies in reflecting this perspective. At the same time, a set of arguments is presented in support to the idea that the new industrial policy paradigm can be instrumental in bringing more theoretical salience and political prominence to Cohesion Policy |
| Keywords: | Cohesion Policy; European Union; Smart Specialisation Strategy; Industrial Policy |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:termod:202309&r=eur |
| By: | Blance, Corin |
| Abstract: | À partir de l’enquête internationale de l’ISSP (2020), nous analysons le lien entre positionnement politique, confiance et attitudes vis-à-vis des politiques environnementales. Notre étude révèle que les électeurs des partis d’extrême droite en France, en Europe et aux États-Unis sont moins préoccupés par les problèmes environnementaux que les autres. Leurs préoccupations environnementales sont aussi de nature différente : elles ciblent des problématiques locales dont les conséquences affectent leur quotidien. De plus, ces électeurs sont généralement opposés à toute politique écologique contraignante, quelle que soit sa nature. Ils préfèrent également les politiques environnementales punitives plutôt que les incitations positives au changement de comportement, contrairement aux électeurs centristes. Nous retrouvons aussi un résultat déjà connu : les électeurs d’extrême droite expriment une confiance plus faible que les autres vis-à-vis du reste de la société et des institutions en général. Or, cette défiance semble les empêcher d’adhérer aux politiques environnementales. |
| Keywords: | Bien-être, environnement, vote, Wellbeing, far-right |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:cpm:notobe:2315&r=eur |
| By: | Miguel García Duch (Instituto Complutense de Estudios Internacionales (ICEI), Universidad Complutense de Madrid.) |
| Abstract: | This article examines Thirlwall's Law for a sample of 9 eurozone countries from 1992 to 2019. Thirlwall's Law states that a country's long-run growth rate is determined by the ratio of its income elasticities of demand for exports and imports. Using product level data from COMTRADE, this article constructs 5 main sectors based on technological intensity and estimates exports and imports equations for each sector and country in error correction model form. Estimation techniques are seemingly unrelated regressions for exports and three stages least squares for imports. The results reveal significant variations in the income elasticities across sectors and countries, with a strong correlation between higher elasticities for more technological sectors, especially among the so-called central economies. The article concludes that Thirlwall's Law is both a strong predictor of actual growth rates and a useful tool for understanding the role of external imbalances on Eurozone’s economic performance during the last decades. |
| Keywords: | : Balance-of-Payments-Constrained Growth; Thirlwall’s Law; Multi-Sector Analysis; Current Account Imbalances; Error Correction Models. |
| JEL: | C30 E12 F45 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ucm:wpaper:2302&r=eur |
| By: | Briodeau, Clémence; Checherita-Westphal, Cristina |
| Abstract: | This paper estimates a fiscal reaction function (FRF) framework for euro area countries to test for the impact of changes in inflation on fiscal policy. We find evidence of non-linear short-term effects of HICP inflation on the primary balance after controlling for other relevant factors. Over the period 1999-2022, we unveil an inverse U-turn relationship and an inflation turning point - beyond which its short-term (contemporaneous) impact on the primary balance starts being negative - at somewhat above 4% for the sample of mature euro area economies (EA-12, first twelve EA members) and around 6% for the whole sample of euro area countries in 2022 (EA-19). Using an alternative measure of “inflation surprise” (available for the period 2003-2022) yields robust results in the larger EA-19 sample and lowers the threshold to just below 5%. In terms of channels, the non-linear effects are found to propagate through both the primary expenditure and the revenue ratio (more robustly through the former) in the EA-12 sample, while only the combined effect on the primary balance seems to prevail for EA-19. These results reflect primarily the most recent high inflation episode and indicate that in such conditions inflation can be costly for public finance flows even in the shorter run. JEL Classification: H60, E62, E31, C33 |
| Keywords: | euro area, fiscal reaction function, inflation, panel models |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20232880&r=eur |
| By: | Gries, Christin-Isabel; Tenbrock, Sebastian; Wernick, Christian |
| Abstract: | Digitale Technologien sind im Markt für industrielle Robotik seit jeher relevant, da Software zur Robotersteuerung grundlegend für die Entwicklung von klassischen Industrierobotern war. Als Entwickler und Hersteller von klassischen Industrierobotern haben sich globale Akteure wie KUKA und FANUC etabliert, die Hard- und Software typischerweise zukaufen und ihre Roboter mittels Systemintegratoren bei den Anwenderunternehmen implementieren lassen. Im Bereich der Robotik-Zulieferer und -Implementierung sind vielfältige Marktakteure mit einem hohen Spezialisierungsgrad tätig. Für die Effizienz von Produktionsprozessen in der Großserienfertigung, insbesondere in der Automobilbranche, haben Robotik-Anwendungen zentrale Bedeutung erlangt. Für kleine und mittlere Unternehmen (KMU) hingegen fehlte es bisher meist an bedarfsgerechten Robotik-Angeboten, die spezifische Anforderungen an eine leichte Implementierbarkeit, geringe Kosten und flexible Einsatzmöglichkeiten erfüllen können. Innovative digitale Technologien führen zu Veränderungen im Robotik-Markt, die primär auf die erweiterten Möglichkeiten für die Datengewinnung (mittels Sensorik), -verarbeitung (mittels Software/KI), -speicherung (z.B. über Cloud/Edge) und -übertragung (z.B. 5G) zurückzuführen sind. Die Potentiale der Digitalisierung werden insbesondere von vielfältigen neuen Anbietern genutzt, um die Robotik-Implementierung und -nutzung stark zu vereinfachen, mit Robotern komplexere Aufgaben und hohe Variantenvielfalt zu bewältigen und eine engere und risikolosere Zusammenarbeit der Roboter mit Menschen zu ermöglichen. Diese Weiterentwicklungen können auch die Nutzungshürden von KMU deutlich senken. Einige innovative Anwendungen in der Robotik sind nur durch Vernetzung realisierbar. So entsteht mit mobilen autonomen Robotern eine neue Robotervariante im Bereich der professionellen Servicerobotik, die auf drahtloser Vernetzung basiert. Sie spielen auch eine Rolle in der noch als Zukunftsvision zu sehenden smarten Fabrik, in der eine vollständige Vernetzung aller Maschinen, Anlagen und Prozesse angestrebt wird. Die Veränderungen der Industrierobotik durch digitale Technologien vollziehen sich graduell und haben, anders als in vielen anderen Märkten, bisher nicht zu disruptiven Entwicklungen geführt, die bestehende Geschäftsmodelle obsolet machen. Vielmehr schaffen die digitalisierungsgetriebenen Veränderungen schrittweise zusätzliches Umsatzpotential im Markt für industrielle Robotik-Anwendungen, von dem vielfältige Akteure im Robotik-Ökosystem profitieren können. |
| Abstract: | Digital technologies have been relevant in the market for industrial robotics for several decades, as software for robot control is a fundamental element for the development of classic industrial robots. The developers and manufacturers of classic industrial robots are global players such as KUKA or FANUC who typically purchase hardware and software from third parties and have their robots implemented by system integrators. A wide range of market players with a high degree of specialisation are active as component suppliers and system integrators. Robotics applications have become highly important for the efficiency of production processes in large-scale production, particularly in the automotive industry. For small and medium-sized (SME) companies, however, there has been a lack of robotic applications that can fulfil their specific requirements for simple implementation and usage, low costs and flexible operation. Innovative digital technologies are leading to changes in the robotics market, which are primarily based on their expanded options for data generation (using sensors), processing (using software/AI), storage (e.g. via cloud/edge) and transmission (e.g. 5G). The potential of digitalisation is predominately used by a variety of new players. It helps to simplify the implementation and use of robotics, to handle more complex tasks and a high product diversity and to enable a close and safe cooperation between robots and humans. These developments may also increase the demand of SMEs' for robotic services. Connectivity is a precondition for some of these new developments. For example, mobile autonomous robots are a new robot variant in the field of professional service robotics that is based on wireless connectivity. They also play a crucial role in the (vision of a) smart factory, which will rely on completely connected machines, systems and processes. The changes in industrial robotics enabled by innovative digital technologies are taking place gradually and, unlike in many other markets, have not yet led to disruptive developments that threaten existing business models. Instead, the changes driven by digitalisation gradually create additional revenue potential in the market for industrial robotics for the benefit of a wide range of players in the robotics ecosystem. |
| Keywords: | Roboterindustrie, Roboter, Technischer Fortschritt, Digitalisierung, Smart Factory, KMU, Deutschland |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wikdps:280414&r=eur |