|
on Investment |
| By: | Han, Jung Min (Korea Institute for Industrial Economics and Trade) |
| Abstract: | The overall composite Business Survey Index (BSI) for the manufacturing sector in the fourth quarter (Q4) of 2023 was below the baseline (100). However, most feeder indices have slightly increased compared to the previous quarter. Specifically, business conditions (86), sales (91), domestic demand (90), and exports (94) in the manufacturing sector increased in Q4. Facilities investment (96) and inventory (100) remained the same as in the previous quarter (Q3). The BSI outlook for Q1 2024 indicates that most indices for manufacturers are expected to remain below the baseline (100). Specifically, on a quarter-by-quarter basis, the index for business conditions (90) is expected to fall for the first time in a year, while the sales (94) index is expected to drop for the first time in two quarters. Only the index for the operation ratio of facilities (97) held steady from Q3. On a year-on-year basis, the overall BSI outlook for business conditions and sales does not look promising. |
| Keywords: | industrial projections; economic projections; trade projections; economic outlook; Korean economy; Korean industry; KIET; Korea |
| JEL: | E66 F17 F47 |
| Date: | 2024–02–29 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kieter:2024_005&r=inv |
| By: | Justin C. Wiltshire (Department of Economics, University of Victoria) |
| Abstract: | We present the first causal analysis of recent large minimum wage increases, focusing on 47 large U.S. counties that reached $15 or more by 2022q1. Using novel stacked county-level synthetic control estimators, we find substantial pay growth and no disemployment effects. Our research design allows us to reduce selection and attenuation effects—by excluding counties with local minimum wages or those with high wages. We then find significant and larger positive employment effects, as the monopsony model predicts. We go on to document the presence of monopsony in the restaurant industry. We show that minimum wages reduce restaurant workers’ separation rates and that they caused McDonald’s workers’ wages to grow faster than the prices of Big Macs, suggesting the presence of monopsony power and positive economic profits. The fast food industry’s monopsony power allowed it to accommodate large minimum wage increases and raise employment. |
| Date: | 2023–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:vic:vicddp:2023-02&r=inv |
| By: | An, So Hyun (Korea Institute for Industrial Economics and Trade) |
| Abstract: | The COVID-19 pandemic accelerated the digital transformation and affected entrepreneurial environment. Innovation is becoming more important than ever amid the digital transformation of society, and the role of start-ups in innovation has become especially vital, especially as a means of recovering from the economic shock of the COVID pandemic. The digital transformation and the importance of start-ups in economic development and recovery raise questions concerning the direction of entrepreneurship policies in the digital era. This paper explores these questions, probing the relevant academic literature in search of answers. I focus on entrepreneurship policies from an ecosystem perspective and these policies’ importance in the digital era. First, I illustrate the concept of the entrepreneurial ecosystem by summarizing main components as described in the literature. While the body of scholarship on regional economics and entrepreneurship has sought to provide a definition of the concept, the theoretical framework remains a matter of debate. Next, focusing on the role of digital technology as a both a context and enabler of the entrepreneurial ecosystem, I discuss the changes digital transformation has wrought and the growing importance of adopting an ecosystem perspective in entrepreneurial policies in the digital era. Finally, I suggest potential directions for entrepreneurship policies in the digital era by linking them to the characteristics of entrepreneurial ecosystem. |
| Keywords: | entrepreneurship; digital platforms; digital transformation; digital companies; innovation; startups; venture firms; entrepreneurship policy; regional economics; regional innovation; digital technology; Korea; KIET |
| JEL: | L26 R10 R11 R58 |
| Date: | 2024–02–29 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kieter:2024_004&r=inv |
| By: | Barrie, Mohamed Samba; Jackson, Emerson Abraham; Pessima, Joseph |
| Abstract: | This study examines the duality of the exchange rate market in Sierra Leone, delving into the distinct impacts of the official and parallel exchange rates (between the Leone and the United States Dollar) on inflation. Employing the Autoregressive Distributed Lag (ARDL) approach and utilizing annual time series data from 1980 to 2020, the research reveals that the depreciation of the Leone significantly influences inflation. This effect is more pronounced in the case of the parallel exchange rate, where a 1% depreciation results in a 1.26 percentage point increase in inflation, gradually decreasing to 0.92 percentage point over two years. Conversely, the depreciation of the official rate leads to a 0.43 percentage point increase inflation and subsequently to 0.52 percentage point increase in inflation for every 1% depreciation of the official exchange rate in the second year. The findings confirm the significance of both official and parallel exchange rates in influencing inflation, highlighting a substantial difference in their effects on the economy. Nevertheless, the results indicate no statistically significant long-term relationship between inflation and both the official and parallel exchange rates in Sierra Leone. Exchange rate depreciation, particularly in the parallel market, is shown to have a pronounced impact on inflation, necessitating careful oversight and regulation of the parallel market to ensure price stability. The study also uncovers the presence of foreign exchange market fragmentation, posing challenges to effective monetary policy and exchange rate management. Policy implications drawn from the research underscore the importance of regulating the parallel market to enhance transparency and stability. Integrating fragmented foreign exchange markets is deemed crucial for minimizing exchange rate pass through to inflation. Acknowledging the data limitations, the research suggests enriching future investigations by incorporating recent data, global economic factors, and investor sentiments, all of which have the tendency to affect exchange rate movements. |
| Keywords: | Official Exchange Rate, Parallel Exchange Rate, Inflation, exchange-rate-market-duality, Sierra Leone |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:287775&r=inv |
| By: | Raphaël Orange-Leroy (AGORA - EA 7392 - Laboratoire AGORA - CY - CY Cergy Paris Université, IDHES - Institutions et Dynamiques Historiques de l'Économie et de la Société - UP1 - Université Paris 1 Panthéon-Sorbonne - UP8 - Université Paris 8 Vincennes-Saint-Denis - UPN - Université Paris Nanterre - UEVE - Université d'Évry-Val-d'Essonne - CNRS - Centre National de la Recherche Scientifique - ENS Paris Saclay - Ecole Normale Supérieure Paris-Saclay, CRHIA - Centre de recherches en histoire internationale et Atlantique - UR 1163 - ULR - La Rochelle Université - Nantes Univ - UFR HHAA - Nantes Université - UFR Histoire, Histoire de l'Art et Archéologie - Nantes Université - pôle Humanités - Nantes Univ - Nantes Université) |
| Abstract: | This paper shows that the United Nations Conference on Trade and Development (UNCTAD) and the group of 77 developing countries (G77) participated in the 1960s international monetary negotiations. This involvement was based on the agenda built by a group of experts gathered by UNCTAD in 1965. The group was composed of academic and practitioner economists from all over the world, including some famous names, such as Richard Kahn, Tibor Scitovsky, and Trevor Swan, as well as less-known though influential figures, including I. G. Patel, Gamani Corea, and Jorge Gonzalez del Valle. UNCTAD served as an "institutional infrastructure" (Gasper 2011) that allowed for the emergence of new analyses and narratives on the interests of developing countries in the international monetary reform that was being discussed among the wealthy countries of the Group of Ten (G10). The report of the experts proved influential. At the intellectual level, it convinced IMF economists, including Jacques Polak, to change their frame of analysis for a more global vision. At the political level, it was endorsed by G77 and participated in the G10 agreement for universal distribution of the newly created Special Drawing Rights (SDRs). Based on international organizations' archives, this paper, therefore, challenges the invisibilization process of the G10 over G77 ideas. Multilateral negotiations also offer a "keyhole" to study new economist figures from developing countries. Thanks to prosopographic methodology, this paper attempts to follow the national and international connections of the experts as a way to open new research areas for the history of economics. |
| Keywords: | Diplomatic History, Economic History, International Relations, History of Political Economy, United Nations, UNCTAD, IMF, World Bank, G77, G10, G24, Global South, Periphery, Third World, Money, Finance, Development, Development Finance, Special Drawing Rights, SDRs, economists, 1960s, 1970s |
| Date: | 2023–06–19 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04498357&r=inv |
| By: | Philip Arnold P. Tuano (Ateneo de Manila University); Joselito T. Sescon (Ateneo de Manila University); Rolly Czar Joseph T. Castillo (Labor, Education and Research Network, Ateneo de Manila University); Cymon Kayle Lubangco (Ateneo de Manila University); Biran Jason H. Ponce (Ateneo de Manila University); Prezatia Moseska Maria H. Vicario (Ateneo de Manila University); Christopher P. Monterola (Asian Institute of Management) |
| Abstract: | We reviewed the context and trends of Philippine labor and employment along with its challenges. The labor market in the Philippines is characterized by a large and growing workforce with varied skills, but there are also significant labor and employment issues together with the importance to address the effects of continuing global technological changes in production. These issues must be addressed by current and future Philippine government administrations in crafting policies that target vital strategic industries for sustainable transformation and quality job creation to fulfill its ambitions for the Filipino people in 2040. We then simulate the economic structure of the Philippines from 2024 to 2040 through a computable general equilibrium (CGE) model, assuming growth targets are achieved with modest capital and technological (TFP) changes. Then we link with a microsimulation model at the bottom to simulate changes in the labor market. Analyzing the trends in terms of labor market outcomes it appears that the economy stimulated an increase in employment shares and presumably the share of value added overall. Both skilled and unskilled labor need to increase. On this note, along with the PDP 2023-2028, our pointed recommendation is to conduct multi sectoral employment planning summits from national to regional levels as mandated by the Trabaho Act or RA 11961 to formulate the national employment plan with short-term and long-term targets sector by sector. |
| Keywords: | Labor, employment, skills, wages, computable general equilibrium, microsimulation, skills |
| JEL: | C68 J18 J21 L52 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:agy:dpaper:202409&r=inv |
| By: | McLaughlin, Eoin; Ducoing, Cristián; Hanley, Nick |
| Abstract: | There has been widespread debate about whether the way in which we measure economic activity is fit for purpose in the twenty-first century. One aspect of this debate is to move away from measuring a nation's income (GDP) towards monitoring a nation's assets (their inclusive wealth), as a better indicator of sustainable economic development. We provide the first critical comparison of the approaches of leading international organisations - the World Bank and the United Nations Environment Programme - to estimating changes in wealth. Our paper reveals important inconsistencies in how these organisations measure sustainability and the conflicting messages that policy makers receive, despite a common underlying conceptual framework linking changes in a nation's wealth to future well-being. At the most extreme, countries that perform the worst according to the UN are shown to perform well according to the World Bank. This confusion in signals makes better policy making more difficult. |
| Keywords: | Wealth, Sustainability, Natural Capital, Sustainable Development |
| JEL: | Q01 Q32 Q56 N50 N10 O13 O44 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:hwuaef:287770&r=inv |
| By: | Mr. Shafik Hebous; Andualem Mengistu |
| Abstract: | The international agreement on a corporate minimum tax is a milestone in global corporate tax arrangements. The minimum tax disturbs the equivalence between otherwise equivalent forms of efficient economic rent taxation: cash-flow tax and allowance for corporate equity. The marginal effective tax rate initially declines as the statutory tax rate rises, reaching zero where the minimum tax is inapplicable, and increases thereafter. This kink occurs at a lower statutory rate under cash-flow taxation. We relax the assumption of full loss offset; provide a routine for computing effective rates under different designs; and discuss policy implications of the minimum tax. |
| Keywords: | Investment; Minimum Taxation; Corporate Tax Reform; International Taxation; Rent Tax; ACE; Effective Tax Rate |
| Date: | 2024–03–15 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2024/057&r=inv |
| By: | Tosi, Marco; Arpino, Bruno |
| Abstract: | Objective The goal of this brief report is to analyze the association between parental separation and parent-adult child contact frequency, by focusing on parent and child gender and the type of contact. Background Parental separation increases gender inequality in parent-child relationships, with separated fathers having less frequent contact with their adult children compared to separated mothers. We investigate whether the reduction of post-separation contact varies according to parent-child gender (mis-)match and the type of contact, i.e. face-to-face, phone, or digital. Method We use data on Italian families from a nationally representative survey to examine parent-child contact frequency among 6, 855 adult children aged 30-55 (11, 332 parent-child dyads). We estimate multinomial logistic regression models to analyze the probabilities of having sporadic, occasional, and frequent contact with older parents in intact and non-intact families. Results Parental separation is associated with less frequent face-to-face, phone and digital contact between parents and their adult children, particularly between fathers and their daughters, while mother-daughter ties remain substantially unaffected. Face-to-face and phone contact reduces at greater extent than digital contact. However, changes in phone and digital contact reinforces, rather than compensates for, the reduction of face-to-face contact following parental separation. Conclusion We interpret these findings by focusing on the centrality of mother-daughter ties and the loyalty that children have with the same-gender parent. We also suggest that the cumulative effect of parental separation on different types of contact may lead to a polarization of older parents with “strong” and “weak” family ties. |
| Date: | 2024–03–13 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:yzpbe&r=inv |
| By: | Körner, Marc-Fabian; Nolting, Lars; Heeß, Paula; Schick, Leo; Lautenschlager, Jonathan; Zwede, Till; Ehaus, Marvin; Wiedemann, Stefanie; Babel, Matthias; Radtke, Malin |
| Abstract: | In response to the challenges posed by an increasingly decentralized energy system characterized by a high penetration of renewable energy sources, grid operators are experiencing heightened pressure to effectively manage grid congestion. Concurrently, both the European Union as well as the German government's ambitious climate tar-gets are fostering the proliferation of small-scale systems like heat pumps, photovoltaic systems, and electric cars, thereby enhancing the flexibility potential for redispatch operations. The project Decentralized Redispatch (DEER): Interfaces for providing flex-ibility aims to explore the integration of micro-flexibility into congestion management practices. The project's primary focus lies in designing an architecture in the context of a multi-agent-system that facilities secure and sovereign communication among all stakeholders in such a decentralized redispatch, ensuring both privacy and verifiability. The DEER project sets out to analyze the potential of leveraging self-sovereign identity management methods, combined with technologies such as zero-knowledge proofs and distributed ledgers, as a robust framework for achieving these objectives. |
| Abstract: | Mit den Herausforderungen, die durch ein zunehmend dezentrales Energiesystem mit einem hohen Anteil erneuerbarer Energieanlagen entstehen, verändern sich auch die Anforderungen an das (zukünftige) Netzengpassmanagement. Gleichzeitig treiben sowohl die Europäische Union als auch die Bundesregierung für die Erreichung der Klimaschutzziele die Verbreitung von elektrifizierten Kleinstanlagen wie Wärmepumpen, Photovoltaik-Anlagen mit Heimspeichern und Elektroautos voran. Damit erhöht sich zeitgleich ein (bisher) ungenutztes Potenzial dieser Anlagen für den Redispatch. Das Projekt "Dezentraler Redispatch (DEER): Schnittstellen zur Flexibilitätsbereitstellung" zielt darauf ab, die Integration von Kleinstflexibilitäten in das Netzengpassmanagement zu erforschen. Dieses White Paper gibt ein Überblick über die ersten Projektergebnisse sowie die notwendigen Technologien und Methoden. Das Projekt konzentriert sich dabei hauptsächlich darauf, eine Architektur im Kontext eines Multi-AgentenSystems zu entwerfen, die eine sichere und datensouveräne Kommunikation zwischen allen Stakeholdern im dezentralen Redispatch ermöglicht und damit sowohl Datenschutz als auch Verifizierbarkeit gewährleistet. Dabei zielt das DEER-Projekt darauf ab, das Potenzial von digitalen, selbstbestimmten Identitäten (SSI) in Kombination mit Zero-Knowledge-Proofs und verteilten Ledger-Technologien als geeigneten Rahmen zur Erreichung dieser Ziele zu analysieren. |
| Keywords: | Redispatch, SSI, Multi-Agent Systems, Zero Knowledge Proof |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:bayism:287771&r=inv |
| By: | Breitkopf, Laura (Max Planck Institute for Research on Collective Goods); Chowdhury, Shyamal (University of Sydney); Priyam, Shambhavi (World Bank); Schildberg-Hörisch, Hannah (Heinrich Heine University Düsseldorf); Sutter, Matthias (Max Planck Institute for Research on Collective Goods) |
| Abstract: | We use novel data on nearly 6, 000 children and adolescents aged 6 to 16 that combine incentivized measures of social, time, and risk preferences with rich information on child behavior and family environment to study whether children's economic preferences predict their behavior. Results from standard regression specifications demonstrate the predictive power of children's preferences for their prosociality, educational achievement, risky behaviors, emotional health, and behavioral problems. In a second step, we add information on a family's socio-economic status, family structure, religion, parental preferences and IQ, and parenting style to capture household environment. As a result, the predictive power of preferences for behavior attenuates. We discuss implications of our findings for research on the formation of children's preferences and behavior. |
| Keywords: | social preferences, time preferences, risk preferences, experiments with children, origins of preferences, human capital, behavior |
| JEL: | C91 D01 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16834&r=inv |
| By: | Cesarini, David (Department of Economics, New York University); Lindqvist, Erik (Swedish Institute for Social Research, Stockholm University); Östling, Robert (Department of Economics, Stockholm School of Economics); Terksaya, Anastasia (Department of Economics and IEB, Universidad de Barcelona) |
| Abstract: | We estimate the effects of large, positive wealth shocks on marriage and fertility in a sample of Swedish lottery players. For male winners, wealth increases marriage formation and reduces divorce risk, suggesting wealth increases men’s attractiveness as prospective and current partners. Wealth also increases male fertility. The only discernible effect on female winners is that wealth increases their short-run (but not long-run) divorce risk. Our results for divorce are consistent with a model where the wealthier spouse retains most of his/her wealth in divorce. In support of this assumption, we show divorce settlements in Sweden often favor the richer spouse. |
| Keywords: | Fertility; children; marriage; divorce |
| JEL: | D01 J12 J13 |
| Date: | 2024–04–08 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:sofiwp:2023_004&r=inv |
| By: | Claudia Toma; Annabelle Martin |
| Abstract: | Diversity management is adopted by organizations in the pursuit of fairness and justice. The main question addressed by the current paper is whether all approaches to diversity management are positively related to organizational justice. We hypothesize that identity-conscious approaches, such as learning and integration, are more beneficial to organizational justice compared to identity-blind approaches, such as fairness discrimination and access legitimacy. We tested this hypothesis in a study conducted in Belgian hospitals with 367 employees who varied in gender, age, tenure, and position in the organization. Based on multiple regression analyses, we found that the learning and integration approach, as well as the fairness discrimination, was positively related to all dimensions of organizational justice. The access-legitimacy was perceived to be the most common approach in hospitals but was unrelated to organizational justice. The effects were moderated by employees' gender and position for two diversity approaches, so female employees benefited less from fairness discrimination, while the low-position employees benefited more from access-legitimacy. We discussed the theoretical and practical implications of those findings. |
| Keywords: | diversity management; identity-conscious approach; organizational justice; gender |
| Date: | 2024–03–10 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/369711&r=inv |
| By: | Bruno Fontaine (SMASH - Société de Mathématiques Appliquées et de Sciences Humaines, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Antoine Teixeira (ADEME - Agence de l'Environnement et de la Maîtrise de l'Energie, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Julien Lefevre (AgroParisTech, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique, Université Paris Saclay (COmUE)); Fanny Vicard (ADEME - Agence de l'Environnement et de la Maîtrise de l'Energie) |
| Abstract: | Net-zero emissions scenarios (NZE) generally do not focus on imported green-house gases emissions. On an other side, input-ouput environmental assessments of decarbonization scenarios often miss the macroeconomic consequences of the energy transition. In this study, we built and evaluated the material and environmental footprints of detailed and coherent NZE scenarios for France, describing a various range of mitigation actions and transition ideologies, through a bottom-up coupling with hybrid input-output analysis (HIO). We discuss the relative effectiveness of these actions, classified into sufficiency, efficiency and substitution categories. This highlights the efficiency of sufficiency actions to reduce both material and carbon footprints. |
| Keywords: | Sufficiency, efficiency, Green growth, net-zero emissions, Carbon footprint, Input-output |
| Date: | 2023–11–14 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04483018&r=inv |
| By: | Lustig, Nora; Martinez Pabon, Valentina; Pessino, Carola |
| Abstract: | This paper uses standard fiscal incidence analysis to study how much income redistribution and poverty reduction are accomplished through the fiscal system in eighteen Latin American and Caribbean (LAC) countries. We show there is considerable heterogeneity in the income inequality and poverty-reducing power of LAC fiscal systems. While all LAC fiscal systems reduce income inequality, fiscal systems in nine LAC countries are poverty-increasing, and this startling characteristic has not improved over time. When analyzing specific fiscal elements, we find that direct taxes, direct transfers, and in-kind transfers are all equalizing, and spending on education and health is often pro-poor. Moreover, contrary to expectations, indirect taxes and subsidies are more frequently equalizing than unequalizing. |
| Keywords: | Fiscal policy;Inequality;Poverty;Latin America |
| JEL: | D31 D6 E62 H22 I32 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:idb:brikps:13193&r=inv |
| By: | Danilo Liberati (Bank of Italy); Giuseppe Marinelli (Bank of Italy) |
| Abstract: | Building on the work by Liberati and Marinelli (2021), this paper presents a study on the greenium, i.e. the negative yield difference between green bonds and their conventional counterparts. We use a security-by-security data set comprising a large sample of green bonds exchanged on the main global security markets, integrated with the microdata employed in official statistics on security holdings and prices. After showing the existence of the greenium, we employ a twofold approach in order to contribute to the literature on this topic. Firstly, we exploit an econometric strategy based on security-level panel regressions and we find strong evidence for the existence of the greenium and for its increase following the Covid-19 shock; nonetheless, after the end of the state of emergency, we find evidence of a rebound of the greenium of different intensities depending on the issuing sector. Finally, we provide econometric evidence for a persistent excess demand in the green bond secondary market through a non-Walrasian disequilibrium model a la Maddala and Nelson (1974). |
| Keywords: | Green bonds, greenium, Covid-19 |
| JEL: | C33 G12 G21 Q56 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:opques:qef_832_24&r=inv |
| By: | , Marcin Wozniak (Adam Mickiewicz University, Poznan, Poland); Radzimski, Adam; Wajchman-Świtalska, Sandra |
| Abstract: | Enhancing quality of life in contemporary cities hinges on convenient access to parks and forests, offering avenues for physical activity and social engagement, as well as benefits for mental health and opportunities for educational pursuits. This comprehensive study delves into the accessibility to parks and forests across 33 major European cities, employing an interdisciplinary framework drawing from transportation and urban planning methodologies. By analyzing accessibility to urban green spaces (UGS) through sustainable modes of transportation, the research aims at unveiling patterns shaped by population density, terrain elevation, city area and transportation infrastructure. Notably, disparities in accessibility emerge both within and between cities, with urban parks, typically nestled in city centers, exhibiting more equitable accessibility compared to forests, often situated on the outskirts. Further results show that the area of UGS, road network density, public transit availability, and elevation gradients influence parks and forests accessibility with different strengths and in different configurations, unveiling the complexity of green space distribution within urban landscapes. Across transportation modes, disparities in accessibility are most pronounced for pedestrians, accentuating the need for targeted interventions to bridge the gaps. The study also emphasizes the significance of discerning qualitative distinctions among diverse green spaces, advocating for tailored strategies in UGS planning. Acknowledging the pivotal role of parks in augmenting UGS accessibility, particularly in densely populated areas and for short-distance journeys, the paper underscores the urgency of fair provision. Finally, this research furnishes insights for policymakers and urban planners committed to fostering inclusive, healthy and sustainable urban environments. |
| Date: | 2024–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:hcwgp&r=inv |
| By: | Md. Galib Ishraq Emran; Rhidi Barma; Akram Hussain Khan; Mrinmoy Roy |
| Abstract: | Globally, the water crisis has become a significant problem that affects developing and industrialized nations. Water shortage can harm public health by increasing the chance of contracting water-borne diseases, dehydration, and malnutrition. This study aims to examine the causes of the water problem and its likely effects on human health. The study scrutinizes the reasons behind the water crisis, including population increase, climate change, and inefficient water management techniques. The results of a lack of water on human health, such as the spread of infectious diseases, a higher risk of starvation and dehydration, and psychological stress, are also concealed in the study. The research further suggests several ways to deal with the water situation and lessen its potential outcomes on human health. These remedies include enhanced sanitation and hygiene procedures, water management, and conservation techniques like rainwater gathering and wastewater recycling. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2403.07019&r=inv |
| By: | Stefano Neri (Bank of Italy) |
| Abstract: | In the summer of 2021, inflation woke up for the first time in many years. The period of low inflation in the euro area ended abruptly with the recovery from the Covid-19 pandemic and the energy crisis. Supply bottlenecks and energy prices played an important role in pushing up core inflation. Despite the rise in consumer prices, the ECB's monetary policy response helped to re-anchor long-term inflation expectations to the new symmetric 2 per cent target. With expectations well anchored, the risks of second-round effects limited and the downside risks to growth heightened, it is time to take stock of the effects of monetary policy so far and those still to come, and wait for the effects of past shocks on inflation to fade. |
| Keywords: | inflation energy prices, supply bottlenecks, long-term inflation expectations, monetary policy |
| JEL: | C32 E31 E32 E37 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:opques:qef_834_24&r=inv |
| By: | Piero Ronzani (ISDC – International Security and Development Center, Berlin, Germany); Wolfgang Stojetz (ISDC – International Security and Development Center, Berlin, Germany); Carlo Azzarri (International Food Policy Research Institute, Washington, DC, USA); Gianluigi Nico (The World Bank, Washington, DC, USA); Erdgin Mane (Food and Agriculture Organization of the United Nations (FAO), Rome, Italy); Tilman Brück (ISDC – International Security and Development Center, Berlin, Germany, Humboldt University of Berlin, Berlin, Germany, Leibniz Institute of Vegetable and Ornamental Crops, Großbeeren, Germany) |
| Abstract: | This paper provides empirical microlevel evidence on the gendered impacts of armed conflict on economic activity in agriculture and other sectors, combining large-N sex-disaggregated survey data with temporally and spatially disaggregated conflict event data from 29 African countries. We find that local conflict exposure is only weakly related to labour-force participation, but strongly reduces the total number of hours worked and increases engagement in the agricultural sector. These net impacts exist for both men and women. However, the reduction in hours worked is significantly greater among men, while the increase in agricultural activity is significantly greater among women. In the longer term, impacts of conflict on employment two years later are stronger when no more conflict ensues than if further conflict occurs, challenging the widespread idea of one-off conflict shocks fading away over time and suggesting that labour markets adapt to and absorb lasting conflict situations. Different types of conflict event have qualitatively similar impacts, which are strongest for explosions, such as from air strikes or landmines. Overall, our findings underline that armed conflict entails structural economic, social and institutional change, which creates complex, gendered impacts on economic activity. |
| Keywords: | conflict shocks, gender, agrifood systems, Africa, labor market adaptation, employment |
| JEL: | D74 J16 O10 O13 O18 Q10 Q34 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:hic:wpaper:409&r=inv |
| By: | M\"ucahit Ayg\"un; Fabio Bellini; Roger J. A. Laeven |
| Abstract: | Geometrically convex functions constitute an interesting class of functions obtained by replacing the arithmetic mean with the geometric mean in the definition of convexity. As recently suggested, geometric convexity may be a sensible property for financial risk measures ([7, 13, 4]). We introduce a notion of GG-convex conjugate, parallel to the classical notion of convex conjugate introduced by Fenchel, and we discuss its properties. We show how GG-convex conjugation can be axiomatized in the spirit of the notion of general duality transforms introduced in [2, 3]. We then move to the study of GG-convex risk measures, which are defined as GG-convex functionals defined on suitable spaces of random variables. We derive a general dual representation that extends analogous expressions presented in [4] under the additional assumptions of monotonicity and positive homogeneity. As a prominent example, we study the family of Orlicz risk measures. Finally, we introduce multiplicative versions of the convex and of the increasing convex order and discuss related consistency properties of law-invariant GG-convex risk measures. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2403.06188&r=inv |
| By: | Arun G. Chandrasekhar; Paul Goldsmith-Pinkham; Tyler H. McCormick; Samuel Thau; Jerry Wei |
| Abstract: | Network diffusion models are used to study things like disease transmission, information spread, and technology adoption. However, small amounts of mismeasurement are extremely likely in the networks constructed to operationalize these models. We show that estimates of diffusions are highly non-robust to this measurement error. First, we show that even when measurement error is vanishingly small, such that the share of missed links is close to zero, forecasts about the extent of diffusion will greatly underestimate the truth. Second, a small mismeasurement in the identity of the initial seed generates a large shift in the locations of expected diffusion path. We show that both of these results still hold when the vanishing measurement error is only local in nature. Such non-robustness in forecasting exists even under conditions where the basic reproductive number is consistently estimable. Possible solutions, such as estimating the measurement error or implementing widespread detection efforts, still face difficulties because the number of missed links are so small. Finally, we conduct Monte Carlo simulations on simulated networks, and real networks from three settings: travel data from the COVID-19 pandemic in the western US, a mobile phone marketing campaign in rural India, and in an insurance experiment in China. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2403.05704&r=inv |
| By: | Arun G. Chandrasekhar; Paul Goldsmith-Pinkham; Tyler McCormick; Samuel A. Thau; Jerry Wei |
| Abstract: | Network diffusion models are used to study things like disease transmission, information spread, and technology adoption. However, small amounts of mismeasurement are extremely likely in the networks constructed to operationalize these models. We show that estimates of diffusions are highly non-robust to this measurement error. First, we show that even when measurement error is vanishingly small, such that the share of missed links is close to zero, forecasts about the extent of diffusion will greatly underestimate the truth. Second, a small mismeasurement in the identity of the initial seed generates a large shift in the locations of expected diffusion path. We show that both of these results still hold when the vanishing measurement error is only local in nature. Such non-robustness in forecasting exists even under conditions where the basic reproductive number is consistently estimable. Possible solutions, such as estimating the measurement error or implementing widespread detection efforts, still face difficulties because the number of missed links are so small. Finally, we conduct Monte Carlo simulations on simulated networks, and real networks from three settings: travel data from the COVID-19 pandemic in the western US, a mobile phone marketing campaign in rural India, and in an insurance experiment in China. |
| JEL: | C01 D85 E0 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32251&r=inv |
| By: | Sylvia Hristakeva; Julie Holland Mortimer; Eric Yde |
| Abstract: | We study the effect of price caps on the provision of costly effort by pharmaceutical firms using variation in drug discounts generated by a price regulation program that allows eligible hospitals to purchase outpatient drugs at steep discounts. These discounts directly affect drug manufacturers’ markups, and may change firms’ incentives to exert promotional effort targeted towards physicians at these hospitals. We find that the effects of price regulation on pharmaceutical firm effort depend crucially on the design of the regulations. Using detailed data on marketing payments from pharmaceutical firms to physicians, we observe that physicians receive 12% fewer promotional payments after their hospitals take up the program. The design of the price caps imply that discounts tend to increase with a drug’s age. Consistent with theoretical predictions, we find that pharmaceutical firms shift promotional payments away from older drugs and towards newer drugs, which are less affected by the price caps. |
| JEL: | I1 I11 L0 L2 M30 M37 M39 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32249&r=inv |