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on Investment |
| By: | Katharine C. Sadowski |
| Abstract: | Childcare is essential for working families, yet it remains increasingly unaffordable and inaccessible for parents and offers poverty-level wages to many employees. While research suggests minimum wage policies may improve the welfare of low-wage workers, there is also evidence they may increase firm exits, especially among smaller, low-profit firms, which could reduce access and harm consumer well-being. This study is the first to examine these trade-offs in the childcare industry, a labor-intensive, highly regulated sector where capital-labor substitution is limited, and to provide evidence on how minimum wage policies affect a dual-sector labor market in the U.S., where self-employed and waged providers serve overlapping markets. Using variation from state-level minimum wage increases between 1995 and 2019 and unique microdata, I implement a cross-state county border discontinuity design to estimate impacts on the stocks, flows, and composition of childcare establishments. I find that while county-level aggregate establishment stocks and employment remained stable, establishment-level turnover increased, and employment decreased. I reconcile these findings by showing that minimum wage increases prompted reallocation, with larger establishments in the waged-sector more likely to enter and less likely to exit, making this one of the first studies to link null aggregate effects to shifts in establishment composition. Finally, I show that minimum wage increases may negatively affect the self-employed sector, resulting in fewer owners with advanced degrees and more with only high school education. These findings suggest that minimum wage policies reshape who provides care in ways that could affect both quality and access. |
| Keywords: | Child Care, Early Childhood Education, Minimum Wage |
| JEL: | H32 H44 H75 I21 I28 J13 J38 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cen:wpaper:25-53 |
| By: | Fanfani, Bernardo (University of Turin) |
| Abstract: | This study documents the evolution of minimum wages bargained in Italian private sector collective contracts over a forty-year period (1983-2023). Minimum wages have grown in real levels over the last three decades, particularly among high-skilled occupations, but this growth has been partially eroded by the 2022-2023 inflation crisis. Nominal minimum wage growth is strongly correlated with past inflation and very weakly correlated with sectoral productivity growth and unemployment dynamics, which is consistent with strong coordination across industries and real wage rigidity. Increasing differences between high- and low-skilled occupation minimum wages can explain around one-third of the overall growth in the inequality of full-time equivalent daily wages that has occurred in Italy during the 1990s. |
| Keywords: | industrial relations, wage rigidity, wage inequality, minimum wage, collective bargaining |
| JEL: | J31 J38 J52 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18051 |
| By: | Aguilar, José; Quineche, Ricardo |
| Abstract: | Despite being an emerging economy, Peru has achieved superior post-pandemic disinflation compared to major developed economies, making its regional inflation dynamics globally instructive for monetary policy design. This study investigates Lima's suitability as Peru's inflation-targeting anchor by analyzing regional spillovers across nine economic regions using monthly CPI data (2002-2024). Employing both Diebold-Yilmaz time-domain and Baruník-Křehlík frequency-domain frameworks, we quantify the direction, magnitude, and persistence of inflation transmission. Results reveal strong regional interdependence (73.60% total spillover index) with Lima as the dominant net transmitter (23.94 percentage points). However, frequency decomposition uncovers striking cyclical heterogeneity: Lima receives short-run shocks from food-producing regions but dominates long-run transmission (44.70% vs. 28.99% frequency spillover index). Rolling-window analysis during COVID-19 shows temporary spillover disruption (connectivity declining from 75% to 68%) followed by recovery during 2022's inflationary surge. Robustness checks across specifications, granular city-level data, and three-band frequency segmentation confirm Lima's structural centrality at lower frequencies. These findings validate the Central Reserve Bank's Lima-centered approach for long-run targeting while revealing asymmetric frequency-dependent spillovers. The presence of short-run regional shocks suggests integrating upstream agricultural signals could enhance near-term forecasting and policy responsiveness. |
| Keywords: | Inflation spillovers, Regional inflation dynamics, Frequency-domain analysis, Diebold-Yilmaz methodology, Baruník-Křehlík framework |
| JEL: | C32 E31 E58 |
| Date: | 2025–07–23 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125442 |
| By: | Igor Halperin |
| Abstract: | The proliferation of Large Language Models (LLMs) is challenged by hallucinations, critical failure modes where models generate non-factual, nonsensical or unfaithful text. This paper introduces Semantic Divergence Metrics (SDM), a novel lightweight framework for detecting Faithfulness Hallucinations -- events of severe deviations of LLMs responses from input contexts. We focus on a specific implementation of these LLM errors, {confabulations, defined as responses that are arbitrary and semantically misaligned with the user's query. Existing methods like Semantic Entropy test for arbitrariness by measuring the diversity of answers to a single, fixed prompt. Our SDM framework improves upon this by being more prompt-aware: we test for a deeper form of arbitrariness by measuring response consistency not only across multiple answers but also across multiple, semantically-equivalent paraphrases of the original prompt. Methodologically, our approach uses joint clustering on sentence embeddings to create a shared topic space for prompts and answers. A heatmap of topic co-occurances between prompts and responses can be viewed as a quantified two-dimensional visualization of the user-machine dialogue. We then compute a suite of information-theoretic metrics to measure the semantic divergence between prompts and responses. Our practical score, $\mathcal{S}_H$, combines the Jensen-Shannon divergence and Wasserstein distance to quantify this divergence, with a high score indicating a Faithfulness hallucination. Furthermore, we identify the KL divergence KL(Answer $||$ Prompt) as a powerful indicator of \textbf{Semantic Exploration}, a key signal for distinguishing different generative behaviors. These metrics are further combined into the Semantic Box, a diagnostic framework for classifying LLM response types, including the dangerous, confident confabulation. |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2508.10192 |
| By: | Livia Bartolomei (UMR Innovation - Innovation et Développement dans l'Agriculture et l'Alimentation - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Genowefa Blundo Canto (UMR Innovation - Innovation et Développement dans l'Agriculture et l'Alimentation - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Pasquale de Muro (ROMA TRE - Università degli Studi Roma Tre = Roma Tre University) |
| Abstract: | A shift in how to measure well-being using more appropriate and coherent indicators has been long called for. Nonetheless, monetary indicators, such as income and GDP, or utilitarian frameworks, remain the most common approaches used. The capability approach (CA) has been advocated as an alternative framework to measure well-being. This paper aims to capture the state-of-the-art of how the CA has been applied to assess or characterise the well-being impacts of project-based development interventions in Global South countries. The ultimate goal is to discuss whether the CA provides more varied and complex indicators of well-being and therefore more comprehensive impact assessments. The results highlight that qualitative and participatory approaches are frequently applied methods to assess individual capabilities, most often related to educational, economic, social and empowerment dimensions. Capabilities linked to environmental and recreational activities, as well as collective capabilities, were significantly overlooked. Quantitative approaches to impact evaluation were less frequently used. This paper provides a first systematic review on the use of the CA to assess well-being impacts. Future applications of the CA could focus on better integration of qualitative and quantitative approaches for robust impact assessments and targeting understudied capabilities. |
| Keywords: | approche participative, évaluation de l'impact, bien-être social, bien-être, indicateur social, indicateur de développement, pays en développement, développement socioéconomique, Impact evaluation, Poverty, Capabilities, Outcomes, Human development |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05182245 |
| By: | Matthias Eckardt; Philipp Otto |
| Abstract: | Compositional data, such as regional shares of economic sectors or property transactions, are central to understanding structural change in economic systems across space and time. This paper introduces a spatiotemporal multivariate autoregressive model tailored for panel data with composition-valued responses at each areal unit and time point. The proposed framework enables the joint modelling of temporal dynamics and spatial dependence under compositional constraints and is estimated via a quasi maximum likelihood approach. We build on recent theoretical advances to establish identifiability and asymptotic properties of the estimator when both the number of regions and time points grow. The utility and flexibility of the model are demonstrated through two applications: analysing property transaction compositions in an intra-city housing market (Berlin), and regional sectoral compositions in Spain's economy. These case studies highlight how the proposed framework captures key features of spatiotemporal economic processes that are often missed by conventional methods. |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2507.14389 |
| By: | Scholl, Lynn; Sabogal-Cardona, Orlando; Oviedo, Daniel; Arellana, Julián; Cantillo, Víctor; Ojeda-Diaz, Alfredo J. |
| Abstract: | Microtransit services are a midpoint between standard ride-hailing services and conventional bus fleets from public transit. Microtransit utilizes small buses or vans to provide on-demand shared transport, allowing users to reserve seats, track their trips, and receive real-time estimates of pick-up and drop-off times. While public transit systems in the Latin American and the Caribbean (LAC) region are the subject of critical and often contentious policy debates with frequent references to user discontent and an overall decline in quality, microtransit is emerging as an alternative that could improve existing transit systems. Microtransit is argued to be an effective means to extend the coverage of transit services in transit deserts, operating in areas without transit routes and where investments in stations and infrastructure might not be cost effective. Despite its potential benefits, microtransit remains under studied in the LAC region. Based on survey data gathered for Barranquilla, Colombia, and Mexico City, Mexico, this research examines the added value of digital technology features in microtransit. This paper explores individuals' perceptions of the Information and Communication Technology (ICT) features present in microtransit and different variables mediating such perceptions. Employing factor analysis, and Structural Equation Models (SEM), ICT features are considered as latent variables and placed as the main outcome of the SEM. Other latent variables encompassing perceptions, such as the quality and safety of public transit, are also included in the model. Results indicate that individuals with pro-car attitudes and those who own cars are more likely to prefer ICT features in microtransit, suggesting a potential for modal shift. Similarly, insecurity in public transit also explains favorable perceptions about the ICT features in microtransit. We also found that higher levels of technological savviness and being a ride-hailing adopter are related to increased valuations of microtransit. |
| Keywords: | Microtransit |
| JEL: | O14 R42 R58 Z18 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:idb:brikps:14219 |
| By: | Smyth, Russell; Vespignani, joaquin vespignani |
| Abstract: | This submission proposes a national economic reform package, designed to mitigate the structural distortions arising from the "Dutch disease" in Australia. While resource booms have boosted national income, they have also weakened tradable sectors, entrenched regional inequalities, and exposed the economy to external commodity price shocks. The centrepiece of this submission is a proposal to establish an Australian Sovereign Resource Fund, inspired by the Norwegian experience, which would improve productivity, build economic resilience, and strengthen fiscal sustainability. The proposed reform package would explicitly address the exchange rate dynamics of commodity supercycles and reduce distortions to the Australian dollar, which are typical of a resource-rich small open economy. |
| Keywords: | Resources, Macroeconomic Reform, Fiscal Policy |
| JEL: | E0 E02 Q0 Q02 |
| Date: | 2025–07–01 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125350 |
| By: | Albertazzi, Ugo; Ferrando, Annalisa; Gori, Sofia; Rariga, Judit |
| Abstract: | This paper explores empirically the cost channel of monetary policy transmission during the recent period of monetary policy tightening in the euro area. We combine unique data on firms’ selling price expectation from the Survey on the access to finance of enterprises (SAFE), information on firms’ borrowing from the euro area-wide credit register (AnaCredit) and ECB monetary policy surprises. Firms revise upwards their one-year-ahead selling price expectations following monetary announcements in a tightening cycle and this effect increases in firms’ working capital exposure. The paper provides supportive evidence on the existence of a cost channel of monetary policy, adding to our understanding of monetary policy transmission to firms in the euro area. JEL Classification: G30, E52, D84 |
| Keywords: | firm financing, monetary policy, selling price expectations |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20253097 |
| By: | Heath, Alexandra; Schroeder, Krista |
| Abstract: | This article introduces the concept of the trauma-informed neighborhood as a systems-level planning framework rooted in neuroscience, environmental psychology, and spatial justice. Drawing on principles of trauma-informed care and emerging public health research, the paper describes planning strategies that prioritize nervous system regulation, co-located services, inclusive public and greenspace design, cross-sector collaboration, and argues that planning is a health intervention. Through precedent analysis and conceptual modelling, the trauma-informed neighborhood is proposed as a design and policy intervention, with planners as central actors. The article concludes with policy recommendations and regulatory tools to leverage planning for community healing and long-term resilience. |
| Date: | 2025–08–02 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:bcna9_v1 |
| By: | Vanluydt, Elien (RS: GSBE other - not theme-related research, ROA / Health, skills and inequality); Bles, Per (ROA / Health, skills and inequality, RS: GSBE other - not theme-related research); Huijgen, Timo (RS: GSBE other - not theme-related research, ROA / Health, skills and inequality); van Vugt, Lynn (ROA / Education and transition to work, RS: GSBE other - not theme-related research); Huijts, Tim (RS: GSBE other - not theme-related research, ROA / Health, skills and inequality) |
| Abstract: | Dit technisch rapport beschrijft de gegevensverzameling en algemene resultaten van het onderzoeksproject Early Predictors of School Success (EPoSS). Dit project heeft tot doel om enerzijds te verkennen in hoeverre leefstijlen en gezondheid van kinderen verklarend zijn voor hun leerprestaties op sleutelmomenten (de overgang po-vo, brugperiode, uitstroom uit vo), en anderzijds te exploreren in hoeverre schoolkenmerken en de sociale omgeving van kinderen (vrienden, ouders) bijdragen aan de verklaring van verschillende leefstijlen en de fysieke, mentale en sociale gezondheid van kinderen in het po en vo. Hoewel in beleidsvorming vaak wordt uitgegaan van een positieve relatie tussen de gezondheid en leerprestaties van kinderen, is er maar weinig bewijs om dit te onderbouwen, mede door een gebrek aan geschikte gegevens. In dit project verzamelden we daarom nieuwe gegevens over de gezondheid van kinderen in Nederland, en koppelen deze aan gegevens over leerprestaties en de sociale achtergrond van kinderen uit het Nationaal Cohortonderzoek Onderwijs (NCO). De verzamelde gegevens gaan over fysieke, mentale en sociale gezondheid, evenals gezondheidsgedrag. Ouders van leerlingen in groep 3 van het basisonderwijs, en leerlingen in groep 8 van het basisonderwijs, leerjaar 3 van het voortgezet onderwijs en eindexamenklassen van het voortgezet onderwijs werden bevraagd. Daarnaast zijn scholen bevraagd over hun beleid op het gebied van gezondheid, welbevinden en leefstijlen. De gegevens worden na het einde van het project onder voorwaarden beschikbaar gemaakt voor datagebruikers, als Open Module bij het NCO. Het doel van dit rapport is om datagebruikers inzicht te bieden in de EPoSS-gegevens en de totstandkoming van deze gegevens, en om een volledig overzicht te bieden van de beschikbare variabelen in de data. In de volgende secties worden achtereenvolgens de dataverzameling, de inbedding in het NCO als module, en de data zelf beschreven. Tot slot presenteren we in een bijlage tabellen met frequentieverdelingen van alle variabelen uit de data. Hiermee dient dit rapport tevens als codeboek voor de EPoSS-data. |
| Date: | 2025–08–21 |
| URL: | https://d.repec.org/n?u=RePEc:unm:umarot:2025003 |
| By: | Gambardella, Giulia (University of Perugia); Ben Lenda, Ilham (University of Trento); Mangiavacchi, Lucia (University of Perugia); Piccoli, Luca (University of Trento) |
| Abstract: | This paper examines how an adolescent's relative socioeconomic status (SES) within their school influences their socioemotional development and well-being. Although peer effects on academic outcomes are well-documented, less is known about how an individual's socioeconomic rank among peers shapes non-cognitive skills. Using PISA 2022 data and a school fixed effects model, we investigate the relationship between two measures of relative SES—Socioeconomic Rank and Socioeconomic Gap—and a range of outcomes, including socioemotional skills, self-esteem, and attitudes toward school. Our results show that higher within-school SES rank is significantly associated with better socioemotional skills, greater well-being, and stronger academic motivation. We also find important heterogeneity by gender and migrant background. These findings highlight that an individual's relative socioeconomic position, beyond absolute resources, plays a critical role in shaping adolescent non-cognitive development. |
| Keywords: | relative position, socio-economic status, socio-emotional skills, adolescents |
| JEL: | I24 F22 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18060 |
| By: | Georgios I. Papayiannis; Georgios Psarrakos |
| Abstract: | This paper proposes a novel perspective on the relationship between Value at Risk (VaR) and Expected Shortfall (ES) by employing the mixing framework of Flexible Expected Shortfall (FES) to construct coherent representations of VaR. The methodology enables a reinterpretation of VaR within a coherent risk measure framework, thereby addressing well-known limitations of VaR, including non-subadditivity and insensitivity to tail risk. A central feature of the framework is the flexibility parameter inherent in FES, which captures salient distributional properties of the underlying risk profile. This parameter is formalized as the $\theta$-index, a normalized measure designed to reflect tail heaviness. Theoretical properties of the $\theta$-index are examined, and its relevance to risk assessment is established. Furthermore, risk capital allocation is analyzed using the Euler principle, facilitating consistent and meaningful marginal attribution. The practical implications of the approach are illustrated through appropriate simulation studies and an empirical analysis based on an insurance loss dataset with pronounced heavy-tailed characteristics. |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2507.13562 |
| By: | Moawad, Jad (Department of Social Policy and Intervention, University of Oxford) |
| Abstract: | The increasing complexity of financial markets and the shift towards individual responsibility for retirement savings highlight the importance of sound financial decision-making. However, significant gaps persist, with women and individuals from lower socioeconomic backgrounds often exhibiting lower financial literacy and market participation. While the effectiveness of broad financial education is debated, the impact of targeted, concise information on specific investment behaviors remains unclear. We conducted a pre-registered randomized controlled trial with a representative sample of U.S. adults (N=2, 568) to investigate whether providing specific information about Exchange-Traded Funds (ETFs) - comparing their risks and returns to those of alternatives like gold, individual stock, savings, and cryptocurrency - could influence investment choices and reduce demographic gaps. Participants made allocation decisions for a real $100 lottery prize invested for one year. We find that the informational intervention significantly increased allocation to ETF (+17.8 percentage points) on average, shifting funds from savings, gold, and individual stock. Crucially, the intervention had larger effects among women, individuals without a bachelor's degree, and those from lower social origins, substantially eliminating the gender gap and narrowing gaps based on education and social origin. These results demonstrate that targeted, product-specific financial information can be a powerful tool to reduce investment inequalities and promote financial inclusion. |
| Keywords: | Financial Literacy, Investment Behavior, Randomized Controlled Trial (RCT), Financial Inclusion, Portfolio allocation |
| JEL: | G11 G53 C93 D14 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:amz:wpaper:2025-16 |
| By: | Milan Pontiggia (MAGEFI - University of Bordeaux, France) |
| Abstract: | We assess the applicability of rough volatility models to Bitcoin realised volatility using the normalised p-variation framework of Cont and Das (2024). Applying this model free estimator to high-frequency Bitcoin data from 2017 to 2024 across multiple sampling resolutions, we find that the normalised statistic remains strictly negative throughout, precluding the estimation of a valid roughness index. Stationarity tests and robustness checks reveal no significant evidence of non-stationarity or structural breaks as explanatory factors. Instead, convergent evidence from three complementary diagnostics, namely multifractal detrended fluctuation analysis, log-log moment scaling, and wavelet leaders, reveals a multifractal structure in Bitcoin volatility. This scale-dependent behaviour violates the homogeneity assumptions underlying rough volatility estimation and accounts for the estimator's systematic failure. These findings suggest that while rough volatility models perform well in traditional markets, they are structurally misaligned with the empirical features of Bitcoin volatility. |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2507.00575 |
| By: | Chetana Chaudhuri (National Council of Applied Economic Research); Subrata Rath (National Council of Applied Economic Research); Ujala Kumari (National Council of Applied Economic Research); Sanjib Pohit (National Council of Applied Economic Research); Soumi Roy Chowdhury (Institute of Rural Management Anand) |
| Abstract: | AIndia has pledged to reach net zero emissions by 2070, and set an ambitious renewable energy (REN) target of 500 GW from non-fossil sources by 2030. At present, total RENbased electricity generation capacity in India is 220.10 GW (31 March 2025). To achieve its climate goals, it is essential for India to strengthen its REN sector at both the national and subnational levels to harness its potential. In this paper, we analyse public sector expenditure on the REN sector, and discuss the public finance strategies adopted by states, their utilisation rates, and priorities in public expenditure in terms of schemes and subsidies related to REN. Based on our analysis we have formulated recommendations for the 16th Finance Commission. We have estimated the amount of green grants for states, taking into account the potential and progress in various REN sectors across states. We also discuss the challenges and list short-term recommendations (the low-hanging fruit) and long-term recommendations to enhance states’ performance in achieving the targets of the green transition. Our analysis shows that while fore-runner states in terms of public expenditure on REN, like Chhattisgarh, prioritise subsidies for solar pumps, Gujarat demonstrates a more diversified approach, investing in large-scale solar-wind hybrid parks, microgrids, and decentralised systems. In contrast, Rajasthan, despite its high renewable potential, spends a very small share of its budget on REN. Tamil Nadu, Andhra Pradesh, Tripura, and Jammu & Kashmir have no identifiable budgeted spending for REN through public finances, while Himachal Pradesh, Madhya Pradesh, Karnataka, Assam, and Telangana spend a miniscule amount from their budgets (less than 0.01%) on REN. The majority of the states spend more on revenue than on capital, resulting in the lack of asset creation and infrastructural support in this sector. States also suffer from poor fiscal planning. Haryana, Gujarat, Uttar Pradesh, and Maharashtra spend significantly on subsidies for renewables, while Chhattisgarh and Jharkhand, though providing subsidies on other components of the energy sector, do not report giving subsidies for REN. These differences underscore the need for strategic, well-targeted financing that aligns state actions with their technical and economic potential. Renewable energy technologies are highly capital-intensive with substantial upfront costs. Both government entities and other financial lenders have a back-log of nonperforming assets (NPAs), and the uncertainty of investments returns in this sector makes long-term financing stressful. The financial health of DISCOMs and the lack of green priority specifications in financial frameworks add to the problem. The REN sector, being at a nascent stage of development, also faces substantial operational and institutional challenges like land acquisition, technical and regulatory barriers to solar rooftop panels, poor transmission infrastructure, policy misalignments between central and state governments, and so on. A lack of awareness which creates resistance to the adoption of REN and land-use conflicts are also concerns. To overcome these challenges, this study includes a list of recommended financial incentives, and infrastructural and regulatory support, and an approach toward public expenditure on this sector. Our study suggests that to meet the government REN target of installed capacity of 500GW by 2030, the Finance Commission needs to provide green energy grants to states. We estimate that, considering the potential, installed capacity, and present trend in spending on new energy and REN, the average yearly grant requirement for all states would be around Rs. 14, 064 crore over the next five years to reach this target. Given the high risks and low returns in this sector, public investment must lead the way. Keywords: Public Financing of Renewable Energy, Finance Commission, Green Grants, Challenges in Renewable Energy Sector |
| Keywords: | Public Financing of Renewable Energy, Finance Commission, Green Grants, Challenges in Renewable Energy Sector |
| JEL: | H30 H61 H71 H72 H77 |
| Date: | 2025–08–03 |
| URL: | https://d.repec.org/n?u=RePEc:nca:ncaerw:186 |
| By: | Olofsson, Sara (IHE - The Swedish Institute for Health Economics); Gustafsson, Anna (IHE - The Swedish Institute for Health Economics); Westerlund, Ann-Marie (Region Västernorrland, Organisationsöverskridande multidisciplinärt); Strid, Linda (Region Västernorrland, God och nära vård i Västernorrland); Pettersson, Ida (Kommunförbundet Västernorrland, God och nära vård i Västernorrland); Steen Carlsson, Katarina (IHE - The Swedish Institute for Health Economics) |
| Abstract: | I Västernorrland planerar man att testa ett nytt arbetssätt inom vård och omsorg för personer med demenssjukdom. Syftet med uppdraget som beskrivs i denna rapport (fördjupning hälsoekonomi) är att stödja demensarbetet med fokus på nyttor ur ett samhällsperspektiv när nya arbetssätt testas och införs. <p> I ett första steg togs tre fallstudier fram av projektets styrgrupp. Därefter genomfördes tre digitala fokus-grupper med representanter för region, kommun och anhöriga. I fokusgrupperna diskuterades utmaningar med dagens situation med utgångspunkt i de tre fallstudierna för att identifiera var de stora resurskraven och livskvalitetsförlusterna uppstår. I ett andra steg skapades ett ramverk för identifiering av konsekvenser ur ett samhällsperspektiv och med fokus på olika steg i utvecklingen av demenssjukdom. Därefter genomfördes en workshop fysiskt på plats i Örnsköldsvik där samtliga medlemmar från projektets arbetsgrupp deltog, inklusive samtliga som deltagit i fokusgrupperna. I ett tredje steg gjordes en kortare litteraturöversikt. <p> Resultatet visar att det uppstår betydande belastning för olika aktörer med dagens system som skulle kunna påverkas av ett nytt arbetssätt. För sjukvården leder bristande samordning till exempel till att personer med demenssjukdom behöver ökad sjukvård redan före diagnos (t ex p g a fall, näringsbrist, felmedicinering). För den kommunala omsorgen leder bristande samordning bland annat till att de har begränsad möjlighet att sätta in rätt insatser i rätt tid. Det påtalades bland annat att man inom den kommunala omsorgen gärna skulle se att dagverksamhet sätts in för fler men att detta omöjliggörs av att de får kunskap om diagnosen i ett alltför sent skede. För personer med demenssjukdom kan bristande samordning leda till att de kan få en sämre livskvalitet och sämre hälsa då det kan leda till att deras behov inte identifieras i tid (sen diagnos, bristande uppföljning) och insatser (t ex dagverksamhet, sjukvård) sätts in för sent. <p> Det fanns återkommande förslag på vad som skulle behöva förändras för att förbättra situationen. Detta sammanfattas i denna rapport som fem ess: samtycke – behov av tydligare riktlinjer, sekretess – undersöka när informations-överföring kan tillåtas, samordning – behov av att mötas mellan region och kommun samt bättre kommunikationsvägar, synlighet – rutiner för att upptäcka personer med demens-sjukdom och deras behov, särskilt ensamboende, specialisering – möjlighet att specialisera sig mot personer med demenssjukdom inom vård och omsorg för att möjliggöra ett bättre bemötande. En del av dessa förslag ligger redan inom ramen för det nya arbetssättet, medan några kan behöva ytterligare åtgärder för att förverkligas fullt ut (synlighet och specialisering). <p> Sammanfattningsvis visar denna rapport att det finns potential till nyttor med ett nytt arbetssätt hos flera aktörer. Dessa nyttor uppstår i de flesta fall indirekt (t ex till följd av bättre mående som i sin tur leder till minskat behov av vård och omsorg), över en längre tid och på olika sätt hos olika individer (t ex beroende på annan sjuklighet samt om anhörig som kan ge omsorg finns eller ej). En kvantifiering av dessa nyttor behöver därför ske med kontrollgrupp, på längre sikt och i en större grupp. |
| Keywords: | dementia; demens; demenssjukdom; omsorg; multidisciplinärt; nytta |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:ihewps:2025_010 |
| By: | Marc Piraux (UMR TETIS - Territoires, Environnement, Télédétection et Information Spatiale - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - AgroParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | The territory appears today, in the North and in the South, as the privileged scale to answer the challenges of a sustainable development. Many States refer to the territory to renew their public action, particularly in Brazil between 2003 and 2016. Territorial governance mechanisms play an important role in organising collective action between multiple actors, but their implementation is encountered problems and raises questions. The article analyses how territorial governance arrangements that mobilise the notion of common and companion methodologies largely respond to these difficulties. Action research carried out in Brazil over a period of fifteen years has analysed the key elements of the companion processes of territorial governance arrangements that have made it possible to construct these arrangements as commons. These include the co-construction of a mission and rules shared for the use of the common, emotional intelligence and conflict, the role of the gatekeepers in multi-level governance, social experimentation and progressive institutionalisation. From these experiences, perspectives for renewing public action are drawn. |
| Abstract: | Hoje, tanto no Norte quanto no Sul o território parece que é o conceito muito usado para enfrentar os desafios do desenvolvimento sustentável. Vários países, especialmente o Brasil, entre 2003 e 2016, estão referindo-se ao território para renovar sua ação pública. Os mecanismos de governança territorial desempenham um papel importante na organização da ação coletiva entre uma ampla gama de partes interessadas, mas a forma como operam apresenta problemas e levanta muitas questões. Este estudo, baseado em pesquisa-ações realizadas no Brasil nos últimos 15 anos, analisa como os mecanismos de governança territorial colaborativa, que se baseiam na noção de acompanhamento e comum, podem contribuir para resolver essas dificuldades. Esses elementos incluem a coconstrução de uma missão compartilhada e regras para o uso do comum, a inteligência emocional e o conflito, o papel dos mediadores na governança em vários níveis, a experimentação social e a institucionalização gradual. Utilizou-se essas percepções para sugerir maneiras de renovar a ação pública. |
| Keywords: | Brésil, développement des territoires, gouvernance, gouvernance foncière, territoire, biens communs, action collective, approche participative, Gouvernance territoriale, Territoire, Communs |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05182482 |
| By: | Beiser McGrath, Liam |
| Abstract: | In an era of prolonged economic stagnation and global shocks, a central question is how individuals’ material conditions shape support for policy interventions and goals. In recent years, energy insecurity, the inability to easily meet the costs of household energy, has emerged as a key factor in explaining declining household living standards and difficulties meeting the costs of living. This paper examines how energy insecurity affects policy preferences in the context of the UK’s recent energy crisis. Utilising an original survey fielded in the United Kingdom in August 2022, the paper examines how energy insecurity shapes preferences for compensationand investment-based policy preferences for energy, climate, and social policy. The results find that support for energy, climate, and social policy depends on individuals’ energy insecurity. Additionally, while compensatory and investment based policies see similar levels of support in terms of energy policy, there is differentiation in the other policy areas. Energy insecure individuals significantly prioritise investment-based climate policy and compensation-based social policy. These results hold even after adjusting for general concerns with the cost of living. The results help us understand how policy preferences are sensitive to changing economic conditions, and the impact of the energy crisis for a broader set of policy preferences. |
| Keywords: | energy insecurity; energy policy; public opinion; renewable investment; social policy; energy politics |
| JEL: | J1 |
| Date: | 2025–12 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128882 |
| By: | Torben Klarl; Alexander S. Kritikos; Knarik Poghosyan |
| Abstract: | While Equity Crowdfunding (ECF) platforms are a virtual space for raising funds, geography remains relevant. To determine how location matters for entrepreneurs using equity crowdfunding (ECF), we analyze the spatial distribution of successful ECF campaigns and the spatial relationship between ECF campaigns and traditional investors, such as banks and venture capitalists (VCs). Using data from the two leading German platforms – Companisto and Seedmacht – we employ spatial eigenvalue filtering and negative binomial estimations. In addition, we introduce an event study based on the implementation of the Small Investor Protection Act in Germany allowing us to obtain causal evidence. Our combined analysis reveals a significant geographic concentration of successful ECF campaigns in some, but not all, dense areas. ECF campaigns tend to cluster in dense areas with VC activity, while they are less prevalent in dense areas with high banking activity, and are rarely found in rural areas. Thus, rather than closing the so-called regional funding gap, our results suggest that, from a spatial perspective, ECF fills the gap when firms in dense areas seek external financing below the minimum equity threshold offered by VCs and when there are few banks offering loans. |
| Keywords: | Crowdfunding, Finance Geography, Entrepreneurial Finance, Venture Capital |
| JEL: | G30 L26 M13 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:atv:wpaper:2501 |
| By: | Luberisse, Joshua |
| Abstract: | This article theorizes the emergence of a genomic marketplace in which traits—from disease resistance to enhanced cognition—are priced, licensed, and traded as proprietary assets. We introduce two mechanisms that organize value capture in this economy: inherited revenue assurance (IRA), a lineage-binding royalty structure for germline edits, and genomic asset–backed securities (GABS), financial instruments that securitize expected royalty cashflows from edited populations. We build a conceptual model of the trait value chain—from IP origination through multigenerational licensing and secondary finance—and analyze distributional and ethical consequences under competing regulatory regimes (patent exclusivity, FRAND-style licensing, royalty caps, and trait commons). The contribution is a political–economy account that connects molecular IP to household welfare and macro–finance, while offering policy tests that distinguish emancipatory from extractive designs. |
| Date: | 2025–08–06 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:h39za_v1 |
| By: | Elkerbout, Milan (Resources for the Future); Nehrkorn, Katarina (Resources for the Future); Kleimann, David |
| Abstract: | Because countries decarbonize at different rates, leakage—the displacement of emissions as emitters respond to the costs of climate policy—has become a concern (Elkerbout 2024). Leakage is a potential problem in the European Union (EU) and United Kingdom (UK), where manufacturers face carbon costs through domestic carbon pricing programs but importers of similar goods do not. Even in countries with no domestic carbon price, differences in average carbon intensity between domestic and foreign producers can motivate the introduction of new fees on imports—as with the Republican proposal for a Foreign Pollution Fee Act in the United States.To mitigate the risk of leakage and protect the competitiveness of domestic industries, carbon border adjustment mechanisms (CBAMs) seek to level costs between domestic and foreign producers. Such policies to address leakage and level the playing field in international trade in turn raise equity concerns. Some imports that might be affected by CBAMs originate in developing countries, including least-developed ones, which are responsible for small shares of global greenhouse gas emissions and negligible shares of historical emissions. This makes CBAMs relevant to fundamental international climate policy governance issues: how to distribute the efforts of cutting global emissions, given widely divergent stages of economic development and historical responsibility across roughly 200 nations. |
| Date: | 2025–05–28 |
| URL: | https://d.repec.org/n?u=RePEc:rff:ibrief:ib-25-08 |
| By: | Alexis Derumigny; Lucas Girard; Yannick Guyonvarch |
| Abstract: | We contribute to bridging the gap between large- and finite-sample inference by studying confidence sets (CSs) that are both non-asymptotically valid and asymptotically exact uniformly (NAVAE) over semi-parametric statistical models. NAVAE CSs are not easily obtained; for instance, we show they do not exist over the set of Bernoulli distributions. We first derive a generic sufficient condition: NAVAE CSs are available as soon as uniform asymptotically exact CSs are. Second, building on that connection, we construct closed-form NAVAE confidence intervals (CIs) in two standard settings -- scalar expectations and linear combinations of OLS coefficients -- under moment conditions only. For expectations, our sole requirement is a bounded kurtosis. In the OLS case, our moment constraints accommodate heteroskedasticity and weak exogeneity of the regressors. Under those conditions, we enlarge the Central Limit Theorem-based CIs, which are asymptotically exact, to ensure non-asymptotic guarantees. Those modifications vanish asymptotically so that our CIs coincide with the classical ones in the limit. We illustrate the potential and limitations of our approach through a simulation study. |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2507.16776 |
| By: | Yassin Allammari (Abdelmalek Essaadi University); Ouiam Boujaddaine (Higher Institute of Nursing and Health Techniques Professions); Ahmed Taqi (Abdelmalek Essaadi University) |
| Abstract: | Although previous studies have established a positive relationship between market orientation (MO), innovation capabilities (IC), and SME performance, the specific context of Moroccan SMEs remains underexplored. This study aims to examine how MO and IC interact to enhance the performance of Moroccan SMEs. A quantitative survey was conducted among 84 SME managers operating in various sectors. Data analysis was performed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method via SmartPLS 4. The results indicate that MO has a positive and direct effect on the performance of Moroccan SMEs. Additionally, IC play a partial mediating role in this relationship. The theoretical and practical implications of these findings provide concrete guidance for SME managers and policymakers, highlighting the strategic importance of strengthening MO and enhancing IC to foster sustainable SME performance in Morocco. |
| Keywords: | Market Orientation, Innovation Capabilities, SME Performance, Moroccan Smes |
| Date: | 2025–02–23 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05161581 |
| By: | Aguilera, Florencia; Reyes, René; Schueftan, Alejandra; Zerriffi, Hisham; Sanhueza, Rafael |
| Abstract: | Fuelwood consumption in the residential sector has been widely studied worldwide, being family income and other socio-demographic variables commonly identified as its major drivers. In this review, we questioned these findings by including people's preferences/perceptions and context-specific variables in the analysis, and their joint effect on households' energy choices. For this purpose, we performed a meta-analysis based on an econometrical model covering 69 studies (228 observations) on fuelwood consumption and energy transition. We conclude that people's preferences/perceptions have been undervalued in comparison to socioeconomic variables, which are more easily measured by using surveys –or they are already included in preexisting datasets-, especially when researchers are not familiar with local sociocultural and environmental contexts (traditions, status, and worldviews, among others). When people's preferences/perceptions are included in models, the commonly detected effects of gender and family income on energy transition significantly decrease, while the effect of people's schooling remains. This opens the discussion whether it is correct to tackle the dilemma about residential fuelwood consumption through policies that are based on variables like income, instead of more seriously trying to understand local contexts, and also it highlights the role that people's schooling has on energy transition beyond economic aspects. If we take into account that people's decisions about energy includes highly behavioral elements on the personal and household levels, shaped by education, we will be able to develop targeted public policies that allow for a more sustainable use of energy in the residential sector. |
| Keywords: | cooking stoves; energy transition; fuelwood; household energy consumption; logit; traditional fuels |
| JEL: | J1 |
| Date: | 2024–10–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:124605 |
| By: | Jacquemin, Philippe; Gräf, Miriam; Shayan, Milena |
| Abstract: | The integration of immersive technologies such as virtual reality (VR), augmented reality (AR), and the metaverse has intensified research on avatar-mediated interactions. A key phenomenon in this context is the Proteus Effect, which posits that individuals unconsciously adapt their behaviors and attitudes to align with their avatars’ characteristics. Rooted in psychological theories like self-perception theory, deindividuation theory, and behavioral confirmation, the Proteus Effect has been shown to influence social behaviors, confidence, and self-disclosure. This paper presents a structured literature review (SLR) to synthesize existing research, categorizing studies into behavioral and attitudinal measures. Behavioral studies explore how avatars impact observable actions, while attitudinal focuses on the psychological effects of avatar embodiment. Findings indicate that avatar attributes, like attractiveness, height, and realism, significantly influence user interactions, self-perception, and social behaviors. We outline a research agenda that proposes future directions, emphasizing long-term psychological, social, and behavioral consequences of avatar embodiment in virtual environments |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:156719 |
| By: | Espinosa-Uquillas, Elizabeth; Rejesus, Roderick M.; Niles, Meredith |
| Abstract: | While existing research has examined a suite of factors affecting the adoption of cover crops in the United States, understanding the role of government programs and climate change has not been fully investigated over time, especially across a national sample. Furthermore, there is increasing attention on the potential disadoption of conservation practices including cover crops, and the drivers associated with cover crop disadoption is yet to be explored nationally. To fill these gaps in the literature, we combine multiple publicly available data sources to examine long-term county level cover crop adoption and disadoption over a recent decade in the United States. We estimate the association between government programs (i.e., conservation and non-conservation payments, state programs, crop insurance participation, and crop insurance premium subsidies) and climate conditions in counties’ cover crop adoption at both the national and regional levels. Additionally, we identify counties that decreased their cover crop adoption rate, that is, disadopted cover crops, and quantify the factors that correlate with the probability of disadoption. Increasing crop insurance participation within counties is associated with increasing cover crop adoption nationally and in the Southern Plains, Midwest, and Northeast; while increasing insurance premium subsidies are correlated with reduced cover crop adoption in the Midwest and Southeast but increased adoption in the Southern Plains. On the other hand, we quantify that despite the 70% increase in cover crop adoption between 2012 and 2022, 31% and 41% of counties had decreasing level of cover crops in 2017 and 2022, respectively, implying potential adoption saturation and concentration of cover crops in fewer counties. The likelihood of disadoption is lower for counties with higher federal conservation payments and participation in crop insurance. Similarly, increasing heat and climate variability are associated with additional cover crop adoption in most regions, indicating their relevance as a climate-resilient strategy, and counties with higher change in precipitation were more likely to maintain cover crop adoption over time, while climate variability was associated with more disadoption in some regions. We conclude that production risks from cover crop adoption could be potentially alleviated with the expansion of federal cost-sharing programs and crop insurance participation; yet, the amount of premium subsidies should be assessed as possibly disincentivizing cover crops due to the potential moral hazard it can trigger and risk-management redundancies of cover crops under crop insurance. Likewise, there is still potential to incentivize cover crop continuity for climate risk management, especially for counties with increasing precipitation variability due to climate change. |
| Date: | 2025–08–20 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:nk6yh_v1 |