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on Investment |
| By: | Rabbitt, Matthew P.; Hales, Laura J.; Burke, Michael P.; Coleman-Jensen, Alisha |
| Abstract: | This report provides statistics on food security in U.S. households throughout 2022 based on the Current Population Survey Food Security Supplement data collected by the U.S. Department of Commerce, Bureau of the Census, in December 2022. An estimated 87.2 percent of U.S. households were food secure throughout the entire year in 2022, with access at all times to enough food for an active, healthy life for all household members. The remaining households (12.8 percent, statistically significantly higher than the 10.2 percent in 2021 and the 10.5 percent in 2020) were food insecure at least some time during the year, including 5.1 percent with very low food security (statistically significantly higher than the 3.8 percent in 2021 and the 3.9 percent in 2020). Very low food security is the more severe range of food insecurity where one or more household members experience reduced food intake and disrupted eating patterns at times during the year because of limited money and other resources for obtaining food. Children and adults were food insecure at times during 2022 in 8.8 percent of U.S. households with children, up from 6.2 percent in 2021 and 7.6 percent in 2020. In 2022, very low food security among children was 1.0 percent, statistically significantly higher than the 0.7 percent in 2021. From 2021 to 2022, there were statistically significant increases in food insecurity and very low food security for nearly all subgroups of households described in this report. In 2022, the typical food-secure household spent 15 percent more on food than the typical food-insecure household of the same size and household composition. About 55 percent of food-insecure households participated in one or more of the three largest Federal nutrition assistance programs from the U.S. Department of Agriculture: the Supplemental Nutrition Assistance Program (SNAP); the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC); and the National School Lunch Program during the month prior to the 2022 survey. |
| Keywords: | Agricultural and Food Policy, Consumer/Household Economics, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, Research Methods/ Statistical Methods |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:ags:uersrr:338945&r=inv |
| By: | Julian di Giovanni; Ṣebnem Kalemli-Özcan; Alvaro Silva; Muhammed A. Yildirim |
| Abstract: | We estimate a multi-country, multi-sector New Keynesian model to quantify the drivers of domestic inflation during 2020–23 in several countries, including the United States. The model matches observed inflation together with sector-level prices and wages. We further measure the relative importance of different types of shocks on inflation across countries over time. The key mechanism, the international transmission of demand, supply and energy shocks through global linkages helps us to match the behavior of the USD/EUR exchange rate. The quantification exercise yields four key findings. First, negative supply shocks to factors of production, labor and intermediate inputs, initially sparked inflation in 2020-21. Global supply chains and complementarities in production played an amplification role in this initial phase. Second, positive aggregate demand shocks, due to stimulative policies, widened demand-supply imbalances, amplifying inflation further during 2021-22. Third, the reallocation of consumption between goods and service sectors, a relative sector-level demand shock, played a role in transmitting these imbalances across countries through the global trade and production network. Fourth, global energy shocks have differential impacts on the U.S. relative to other countries’ inflation rates. Further, complementarities between energy and other inputs to production play a particularly important role in the quantitative impact of these shocks on inflation. |
| Keywords: | inflation; international spillovers; global production network |
| JEL: | E2 E3 E6 F1 F4 |
| Date: | 2023–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fednsr:97350&r=inv |
| By: | Derick Almeida (University of Coimbra, Faculty of Economics); Tiago Miguel Guterres Neves Sequeira (University of Coimbra, Centre for Business and Economics and Faculty of Economics) |
| Abstract: | In this paper we study a theoretical link between the effects of increased automation on labor markets, and the fertility decisions of a representative household that is replaced by robots in the production of tasks. We develop a framework in which children provide utility and impose an opportunity cost to the household due to lost labor income. We show that fertility rate changes are the result of an optimal response to wage variations after the economy is hit by a shock that increases the design quality of robots used in production. Using this model, we characterize an initial equilibrium and simulate the effect of a 10% increase in robot productivity on important endogenous variables, including wages, and find that, in the absence of fixed costs to raising children, the fertility rate increases by approximately 3.4%. |
| Keywords: | Automation, Robots, Tasks, Fertility |
| JEL: | I24 J13 J22 J24 J31 O15 O33 |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:gmf:papers:2023-05&r=inv |
| By: | Kim, Nam Seok (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | 본 연구는 동남아·대양주 4개국(필리핀, 태국, 호주, 뉴질랜드) 유권자들의 보호무역주의 성향 결정 요인을 분석하고, 유권자들의 보호무역주의 성향이 투표행위와 연관이 있는지에 대해서 논한다. 유권자들의 보호무역에 대한 태도가 어떻게 형성되는지 이해하기 위해 국제경제학에서 연구되고 있는 내생적 무역정책 형성이론의 미시적 기초를 활용한다. 나아가 유권자들의 정당 지지가 그들의 보호무역정책에 대한 태도에 의해 설명될 여지가 있는지 살펴봄으로써 각국의 통상정책 기조의 변화가 정치경제적 배경에 의해 이해될 수 있음을 확인한다. 이번 연구의 분석 결과는 교역 상대국의 국내 정치경제 상황을 반영하여 통상교섭 전략을 고도화할 필요성을 반영한다. This research analyzes the determinants of voters’ attitudes towards protectionism in four Southeast Asian and Oceania countries (the Philippines, Thailand, Australia, and New Zealand) and discusses whether voters’ attitudes toward protectionism are related to their voting behavior. This study utilizes the endogenous trade policy formation theory in international economics to understand how voters’ attitudes toward protectionism are formed. Furthermore, by examining whether voters’ political party support can be explained by their attitudes toward protectionism, this study confirms that changes in each country’s trade policy orientation can be understood in the context of their domestic political-economic background. The main findings of this study are as follows: Voters in relatively labor-abundant countries such as the Philippines and Thailand prefer protectionist trade policies as their human capital attainment increases. In contrast, voters in relatively capital-abundant countries such as Australia and New Zealand prefer free trade policies as their human capital attainment increases. These findings align with the theoretical predictions of the Heckscher-Ohlin model-based factor endowment approach. However, since the factor endowment approach is based on the long-run assumption of free labor mobility across industries, it may deviate significantly from reality. To address this limitation, the analysis introduces a specific-factor approach that considers rigidities in the labor movement between industries to test whether there are differences in attitudes towards protectionism between voters in comparative advantage industries and voters in comparative disadvantage industries. The results of the analysis show that the theoretical predictions of the specific-factor approach did not have empirical validity for the voters in the four countries.(the rest omitted) |
| Keywords: | Protectionism; Trade Barrier; Trade Policy; Southeast Asia; Oceania |
| Date: | 2023–11–10 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kiepre:2023_004&r=inv |
| By: | Polina Lemenkova |
| Abstract: | This study documents the changes in the Land Use/Land Cover (LULC) in the region of saline lakes in north Tunisia, Sahara Desert. Remote sensing data are a valuable data source in monitoring LULC in lacustrine landscapes, because variations in the extent of lakes are visible from space and can be detected on the images. In this study, changes in LULC of the salt pans of Tunisia were evaluated using a series of 12 Landsat 8-9 Operational Land Imager (OLI) and Thermal Infrared (TIRS) images. The images were processed with the Geographic Resources Analysis Support System (GRASS) Geographic Information System (GIS) software. The study area included four salt lakes of north Tunisia in the two regions of the Gulf of Hammamet and Gulf of Gabès: (1) Sebkhet de Sidi el Hani (Sousse Governorate), (2) Sebkha de Moknine (Mahdia Governorate), (3) Sebkhet El Rharra and (4) Sebkhet en Noual (Sfax). A quantitative estimate of the areal extent analysed in this study is 182 km × 185 km for each Landsat scene in two study areas: Gulf of Hammamet and Gulf of Gabès. The images were analysed for the period 2017–2023 on months February, April and July for each year. Spatio-temporal changes in LULC and their climate–environmental driving forces were analysed. The results were interpreted and the highest changes were detected by accuracy assessment, computing the class separability matrices, evaluating the means and standard deviation for each band and plotting the reject probability maps. Multi-temporal changes in LULC classes are reported for each image. The results demonstrated that changes in salt lakes were determined for winter/spring/summer months as detected changes in water/land/salt/sand/vegetation areas. The accuracy of the classified images was evaluated using pixel rejection probability values, which were filtered out using the ‘r.mapcalc’ module of GRASS GIS. The confidence levels were computed and visualised with a series of maps along with the error matrix and measured convergence level of classified pixels. This paper contributes to the environmental monitoring of Tunisian landscapes and analysis of climate effects on LULC in landscapes of north Africa. |
| Keywords: | remote sensing; image processing; Africa; Sahara; image analysis; Landsat |
| Date: | 2023–10–31 |
| URL: | http://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/364490&r=inv |
| By: | Bhowmik, Anuj; Saha, Sandipan |
| Abstract: | The core as a solution concept captures the set of allocations against which there exists no objection by any coalition of agents. Aumann and Maschler (1961) however emphasized the shortcomings of the objection mechanism and hence the core to further repercussions from agents. In that spirit, they introduced the bargaining set which later was adapted to the case of exchange economies by Mas-Colell (1989) and Vind (1992). In this paper, we consider a club economy where club goods are consumed parallel to private goods to capture the social aspects of consumption. We consider the framework proposed by Ellickson et al. (1999) in this regard and refer to the bargaining sets introduced in line with Mas-Colell and Vind as the local and global bargaining sets in our framework. We provide characterizations of the global bargaining set in terms of the size of the (counter-) objecting coalitions thereby extending the works of Schødt and Sloth (1994) and Herves- Estvez and Moreno-Garcıa (2015). We provide further interpretations of the global bargaining set in terms of several notions of robustly efficient states of a club economy. |
| Keywords: | Club goods, Consistency, Local (Global) bargaining set, εδ-Bargaining set, Sequential robust efficiency. |
| JEL: | C7 D5 D6 H4 |
| Date: | 2023–11–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119210&r=inv |
| By: | Taha-Yacine Naqach (UCA - Université Cadi Ayyad [Marrakech]); Farid Chaouki (UCA - Université Cadi Ayyad [Marrakech]) |
| Abstract: | Abstract: This study investigates the impact of psychological empowerment on workforce agility in small and medium-sized enterprises (SMEs). The study employs a quantitative analysis to measure levels of psychological empowerment and workforce agility, assessing the dimensions of psychological empowerment, including Meaning, Self-determination, Competences, and Impact, and examining their influence on workforce agility. The results reveal a significant positive relationship between the dimensions of competence and meaning in psychological empowerment and workforce agility. However, the dimensions of impact and self-determination do not exhibit a strong relationship with workforce agility. This research contributes to the existing literature by addressing the gap in knowledge regarding the impact of psychological empowerment on workforce agility in Moroccan SMEs. The findings have practical implications for managers and decision-makers in SMEs, suggesting that organizations should focus on improving their employees' skills and enhancing their sense of work meaning to foster resilience and adaptability. By fostering workforce agility through empowerment, organizations can create a more engaged and adaptable workforce, potentially leading to increased productivity and competitiveness. Keywords: Psychological empowerment, organizational agility, workforce agility, small and medium-sized enterprises (SMEs), construction sector firms. JEL Classification : O15, C3, M1, L74 Paper type: Empirical research |
| Keywords: | Psychological empowerment, organizational agility, workforce agility, small and medium-sized enterprises (SMEs), construction sector firms |
| Date: | 2023–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04273418&r=inv |
| By: | Jon Pareliussen; Axel Purwin |
| Abstract: | Sweden is among OECD best performers in reducing greenhouse gas emissions, much thanks to a comprehensive policy framework and relatively efficient policies. There is nonetheless room to further improve consistency of targets and policies, notably for transport, agriculture and carbon removals. Sweden’s long record as a climate frontrunner is also threatened by policy changes moving the 2030 reduction target out of reach unless compensated by new ambitious measures. A green industrial revolution is gaining momentum in Sweden’s north, fuelled by an abundant supply of clean electricity. Considerable investments in electricity generation, storage and transmission are needed, but long planning and permitting procedures slow many key projects down. The green revolution depends on people and skills to run industry and complementary public services. This is a challenge for northern regions and municipalities already facing labour shortages. |
| Keywords: | Climate policy, energy system, industrial transition, skills |
| JEL: | Q01 Q28 Q48 Q50 Q58 |
| Date: | 2023–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1778-en&r=inv |
| By: | Sands, Ronald D.; Meade, Birgit; Seale, James L., Jr.; Robinson, Sherman; Seeger, Riley |
| Abstract: | The global land base is under increasing pressure to provide food for a growing population. This report describes how increasing population, income, and agricultural productivity may affect the production and consumption of crops and food products by 2050. Rising incomes have historically implied increasing consumption of animal products, with large increases in feed calories relative to increases in calories consumed as food. Crop calories are the unit of agricultural production in this report, allowing aggregation across multiple crop types, comparison to calories consumed as food, and providing an indicator of cropland requirements. The following questions are addressed: How do increasing population and income affect global demand for crop and food calories by 2050? What is the effect of agricultural productivity growth on food prices and cropland area expansion? Results show that in an income-driven food demand scenario, production of world crop calories increases by 47 percent from 2011 to 2050. Demand for food calories and crop calories increases over time in all scenarios, with most of the adjustment through increases in crop yield (intensification). The amount of cropland also increases (extensification) but less on a percentage basis. |
| Keywords: | Crop Production/Industries, Demand and Price Analysis, Food Consumption/Nutrition/Food Safety, Land Economics/Use, Livestock Production/Industries, Productivity Analysis, Research Methods/ Statistical Methods |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:ags:uersrr:338943&r=inv |
| By: | Adame Espinosa Francisco |
| Abstract: | This work is based on a new Keynesian theoretical model for an advanced economy, which incorporates overlapping generations to analyze a channel through which fluctuations in household financial wealth influence aggregate demand. The optimal monetary policy, corresponding to that of a central planner maximizing households' welfare, aims to mitigate financial fluctuations while simultaneously reducing variability in inflation and the output gap. The model is calibrated for the United States and reproduces the effect of variations in the price of financial assets on aggregate demand. The results show, first, that in the presence of productivity, financial, and demand shocks, optimal monetary policy significantly improves aggregate welfare by stabilizing financial fluctuations that impact households' wealth. Secondly, in the face of productivity and financial shocks, an augmented monetary rule responding explicitly to fluctuations in the price of financial assets, in addition to inflation and output gaps, can reproduce the welfare achieved under optimal monetary policy. However, this is not the case for demand shocks. |
| Keywords: | Monetary Policy;Monetary Rules;Overlapping Generations |
| JEL: | E21 E44 E52 E58 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:bdm:wpaper:2023-14&r=inv |
| By: | Grupp, Tristan Earle; Mishra, Prakash; Reynaert, Mathias; Van Benthem, Arthur |
| Abstract: | The European Union designates 26% of its landmass as a protected area, limiting economic development to favor biodiversity. This paper uses the staggered introduction of protected-area policies between 1985 and 2020 to study the selection of land for protection and the causal effect of protection on vegetation cover and nightlights. Our results reveal protection did not affect the outcomes in any meaningful way across four decades, all countries, protection cohorts, and a wide range of land and climate attributes. We conclude that European conservation efforts lack ambition because policymakers select land for protection not threatened by development. |
| Keywords: | land protection; conservation; biodiversity; deforestation; vegetation cover; night-lights; staggered difference-in-differences |
| JEL: | Q23 Q24 Q57 R14 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:128755&r=inv |
| By: | Kristiaan Kerstens (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique); Jafar Sadeghi (Ivey Business School) |
| Abstract: | This study investigates the existence of solutions for the key plant capacity utilisation (PCU) concepts using general nonparametric technologies. This is done via a theoretical review of existing and some new PCU concepts. Focusing on short-run and long-run output-oriented, attainable output-oriented, and input-oriented PCU notions, we first investigate the existence of solutions at the firm level. Under mild axioms, this question regarding the existence of solutions for these PCU concepts at the firm level is affirmatively answered under variable and constant returns to scale as well as under convex and nonconvex assumptions. However, short-run and long-run output-oriented and attainable output-oriented PCU concepts may not be implementable depending on certain conditions. There are no such reservations for the input-oriented PCU. Then, for this same range of PCU concepts, we explore the more difficult question as to the existence of solutions at the industry level. The output-oriented and attainable output-oriented PCU exist at the industry level under strict conditions: existence and attainability are interwoven at this level. The industry input-oriented PCU is always feasible at the industry model. This theoretical review is supplemented by a semi-systematic empirical review, and an empirical application. We conclude that input-oriented PCU is clearly the best concept. |
| Keywords: | data envelopment analysis, nonparametric technology, capacity utilisation |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04272630&r=inv |
| By: | Mélia Arras-Djabi (IAE Paris - Sorbonne Business School); Laura Cottard; Sakura Shimada (CNAM Paris - Centre d'enseignement Cnam Paris - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université) |
| Abstract: | Recent research on the generations in the workplace has acknowledged the role organizations play in creating generations and the stereotypes associated with them. However, how these stereotypes are formed has yet to be empirically explored. This paper analyzes the stereotypes associated with Millennials based on an in‐depth case study of a population of drivers in a French railway company. This shows that these stereotypes mostly reflect the transformation of professional and organizational identities. The "elders" differentiate themselves from the new organizational generation to enhance the appearance of their skills, knowledge, and values, thus maintaining a balance of power that is favorable to them. Stereotypes also represent generational imprints that work as time markers in shaping the collective memory of their profession. By exploring the relationship among organizational changes, organizational generations, and generational stereotypes, this research produces a more complete understanding of the generational phenomenon in the workplace. |
| Keywords: | stereotypes, generation, generational identity, Millennials, organizational generation, organizational identity |
| Date: | 2023–03–24 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04275101&r=inv |
| By: | Nikolova, Milena; Lepinteur, Anthony; Cnossen, Femke |
| 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 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:1350&r=inv |
| By: | Loukas Karabarbounis |
| Abstract: | As of 2022, the share of U.S. income accruing to labor is at its lowest level since the Great Depression. Updating previous studies with more recent observations, I document the continuing decline of the labor share for the United States, other countries, and various industries. I discuss how changes in technology and product, labor, and capital markets affect the trend of the labor share. I also examine its relationship with other macroeconomic trends, such as rising markups, higher concentration of economic activity, and globalization. I conclude by offering some perspectives on the economic and policy implications of the labor share decline. |
| Keywords: | Inequality; Production; Labor share |
| JEL: | J30 E20 D20 |
| Date: | 2023–11–03 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedmwp:97393&r=inv |
| By: | David E. Bloom; Klaus Prettner; Jamel Saadaoui; Mario Veruete |
| Abstract: | What will likely be the effect of the emergence of ChatGPT and other forms of artificial intelligence (AI) on the skill premium? To address this question, we develop a nested constant elasticity of substitution production function that distinguishes between industrial robots and AI. Industrial robots predominantly substitute for low-skill workers, whereas AI mainly helps to perform the tasks of high-skill workers. We show that AI reduces the skill premium as long as it is more substitutable for high-skill workers than low-skill workers are for high-skill workers. |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2311.09255&r=inv |
| By: | AMARAL-GARCIA Sofia (European Commission - JRC); CONFRARIA Hugo (European Commission - JRC); DOMNICK Clemens (European Commission - JRC); HERVAS Fernando (European Commission - JRC); MONCADA PATERNO' CASTELLO Pietro (European Commission - JRC); RENTOCCHINI Francesco (European Commission - JRC); ZAURINO Elena (European Commission - JRC) |
| Abstract: | This working paper sets the scene and provides background information on 'Industrial Innovation for Open Strategic Autonomy”, the main focus of the 9th edition of the European Conference on Corporate R&D and Innovation (CONCORDi 2023), as well as introduces scientific contributions that will be presented at the conference. It thus aims to stimulate fruitful discussion between academia, experts and policy-makers at the conference, identifying potential policy initiatives and areas where additional research and evidence are needed. |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:wpaper:202303&r=inv |
| By: | ; Kurniawan, Rachmad Risqy |
| Abstract: | In the era of rapidly developing digital transformation, the use of robots in purchasing transactions is an increasingly relevant topic in the fields of law and business. This article examines the legal issues related to the use of robots in the purchasing process, including ethical considerations, responsibility, and consumer protection. We analyze legal changes that may be needed to adapt to these technological developments, while maintaining justice and legal certainty. By analyzing the existing legal framework and recent cases, we aim to provide a better understanding of how buying and selling law is evolving in line with the development of robotic technology. This article also discusses case studies and current regulations in various jurisdictions, as well as providing the latest perspectives on the future of bot trading law. By exploring these questions, this article aims to provide readers with a comprehensive overview of the legal complexities involved in transactions. The research methodology uses a qualitative-descriptive method based on literature study and the legal istinbath method. The results of research on the law of inflation due to natural causes are permissible because it is a decree of Allah SWT, while inflation caused by human behavior and actions is haram, including the causes, because inflation causes damage and loss, inflation and its causes are legally prohibited/haram and must be avoided. |
| Date: | 2023–11–04 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:pjkm4&r=inv |