|
on Investment |
| By: | Lehner, Lukas (University of Oxford); Massenbauer, Hannah (University of Zurich); Parolin, Zachary (University of Oxford); Pintro Schmitt, Rafael (University of California at Berkeley) |
| Abstract: | We study how minimum wage (MW) increases affect poverty and food hardship in the United States from 1981 to 2019. Applying stacked difference-in-difference models and the Supplemental Poverty Measure (SPM), we find that a $1 MW increase reduces poverty by 0.3 to 0.7 percentage points among all working-age adults, and by 1.2 to 1.7 percentage points among individuals most likely to work in MW jobs. We also find that a $1 MW increase reduces food insufficiency by 1.5 percentage points among likely-MW workers. Effects on poverty are partially offset by higher living costs in MW-increasing states. Our findings are robust across methodological choices that have divided the recent literature. Overall, MW increases meaningfully reduce poverty and food hardship for the workers most directly affected and deliver modest improvements for the broader working-age population. |
| Keywords: | labor markets, minimum wage, poverty |
| JEL: | I32 I38 J23 J38 J88 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18142 |
| By: | Jung Min Han (Korea Institute for Industrial Economics and Trade) |
| Abstract: | The overall composite Business Survey Index (BSI) for the manufacturing sector in the second quarter (Q2) of 2025 remained below the baseline (100). However, most feeder indices rose compared to the previous quarter. Business conditions (86) turned upward for the first time in four quarters, while sales (88) also rebounded significantly from the previous quarter’s level of 77.<p> Domestic demand (87) and exports (89) remained below the benchmark level of 100, but unlike the previous quarter (domestic demand 79, exports 86), both increased together for the first time in four quarters. Facility investment (96) and employment (97) edged up compared to the previous quarter, while Ordinary profit (84) and financial conditions (84) also bounced back from their Q1 levels. BSI forecasts for Q3 2025 indicate that manufacturers anticipate a slightly more favorable business environment compared to the previous quarter.<p> Both business conditions (93) and sales (95) remain below the baseline (100) for the fifth consecutive quarter, and only business conditions are expected to continue to improve. Domestic demand (94) is expected to remain at the same level as the previous quarter, while exports (94) are projected to decline slightly. Facility investment (97) and employment (97) are both expected to remain at similar levels to the previous quarter. |
| Keywords: | economic analysis; macroeconomic analysis; economic forecasting; forecasting; outlook; economic outlook; macroeconomic forecasting; macroeconomic outlook; Business Survey Index; Korea; South Korea |
| JEL: | E66 E32 E22 E23 E00 |
| Date: | 2025–08–31 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kieter:021551 |
| By: | Michael Doersam; Henrika Langen |
| Abstract: | To enhance the attractiveness of vocational education and training and to secure an adequate supply of skilled labour, the German government introduced a statutory minimum apprenticeship wage. Since January 1, 2020, apprentices who start their training have been entitled to a minimum wage that increases annually. Using administrative register data on apprenticeship contracts, we estimate the causal effect of this legislation on apprentice employment. Exploiting regional and occupational variation in the share of apprenticeships paid at the minimum wage, we apply standard difference-in-differences, triple-difference, and synthetic difference-in-differences models. Our results indicate that the minimum apprenticeship wage increased the number of apprenticeship contracts while reducing the contract termination rate in low-wage occupations. We also find considerable heterogeneity across occupations, which may be best explained by differences in exposure to skilled labour shortages and changes in apprentices' educational attainment. |
| Keywords: | minimum wage, apprenticeship market, employment effects, difference-in-differences, triple difference, synthetic difference-in-differences |
| JEL: | J08 J24 J38 C23 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:iso:educat:0250 |
| By: | Étienne Fakaba Sissoko (Université des sciences sociales et de gestion de Bamako - USSGB - Université des sciences sociales et de gestion de Bamako) |
| Abstract: | This article introduces and theorizes the original concept of sacrofemininity as an epistemological and political paradigm that breaks with the limitations of dominant models of equality, empowerment, and emancipation. Rooted in African cosmologies, feminine spiritualities, and relational ontologies, the concept advocates for an ontological and civilizational revalorization of the feminine as a foundational matrix. At the crossroads of decolonial epistemologies, traditions of care, and symbolic sovereignties, sacrofemininity proposes a reconfiguration of meaning, institutions, and practices in postcolonial contexts. The article explores its theoretical foundations, practical implications, embodied figures, and critical controversies through an explicitly intersectional lens. |
| Abstract: | Cet article introduit et théorise le concept original de sacroféminité comme paradigme épistémologique et politique de rupture face aux impasses des modèles dominants d'égalité, d'empowerment et d'émancipation. Ancré dans les cosmologies africaines, les spiritualités féminines et les ontologies relationnelles, le concept défend une revalorisation ontologique et civilisationnelle du féminin comme matrice fondatrice. À la croisée des épistémologies décoloniales, des traditions de soin et des souverainetés symboliques, la sacroféminité propose une refondation du sens, des institutions et des pratiques en contexte postcolonial. L'article en explore les fondements théoriques, les implications concrètes, les figures incarnées et les controverses critiques, dans une perspective intersectionnelle assumée. |
| Keywords: | Cosmologies africaines, Ontologie relationnelle, Décolonisation., Justice symbolique, Sacroféminité, Décolonisation B54, I31, Decolonization. JEL Codes: B54, Relational Ontology, African Cosmologies, Symbolic Justice, Sacred Feminine, I31 Sacrofemininity, O55, Z13, J16, Féminin sacré, Sacroféminité Féminin sacré Justice symbolique Cosmologies africaines Ontologie relationnelle Décolonisation B54 J16 Z13 O55 I31 Sacrofemininity Sacred Feminine Symbolic Justice African Cosmologies Relational Ontology Decolonization. JEL Codes: B54 J16 Z13 O55 I31 |
| Date: | 2025–08–17 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05212238 |
| By: | Scott Abrahams; Daniel Keniston |
| Abstract: | Between 1854 and 1929, approximately 200, 000 children were transported from East Coast cities to new homes in the American West, motivated by the theory that a change of geography and household environment can transform lives. We leverage quasi-experimental variation in child placements to evaluate both whether being sent West improved outcomes relative to remaining in New York institutions, and whether variation in destination and foster household characteristics affected later life success. Linking tens of thousands of ``orphan train'' riders and comparable non-relocated children to Census records through 1940, we find no systematic evidence that relocation itself improved adult economic outcomes. Among children sent West, substantial variation in county-level economic opportunities also did not predict adult success. In contrast, the individual foster household income predicts children's later incomes, with an estimated intergenerational elasticity of about 0.2. |
| JEL: | J61 N31 R23 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34282 |
| By: | Isaiah Andrews; Maryam Farboodi |
| Abstract: | Economic theory predicts that transformative technologies may influence interest rates by changing growth expectations, increasing uncertainty about growth, or raising concerns about existential risk. Examining US bond yields around major AI model releases in 2023-4, we find economically large and statistically significant movements concentrated at longer maturities. The median and mean yield responses across releases in our sample are negative: long-term Treasury, TIPS, and corporate yields fall and remain lower for weeks. Viewed through the lens of a simple, representative agent consumption-based asset pricing model, these declines correspond to downward revisions in expected consumption growth and/or a reduction in the perceived probability of extreme outcomes such as existential risk or arrival of a post-scarcity economy. By contrast, changes in consumption growth uncertainty do not appear to drive our results |
| JEL: | E43 E44 G1 G12 G14 O30 O4 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34243 |
| By: | Fiesenig, Bruno; Schirra, Louis |
| Abstract: | This paper investigates the determinants of dual-class share initial public offerings (IPOs) in the United States (U.S.), with a focus on how these drivers have changed over time. By dividing the sample into two periods, before and after 2014, we find a structural shift in the firm characteristics associated with dual-class IPOs. Logistic regression results show that, while many traditional predictors remain stable or insignificant across periods, the technology sector emerges as a key driver in the post-2014 sample, with a strong and statistically significant positive effect on the likelihood of adopting a dual-class structure. This contrasts with the pre-2015 period, in which technology affiliation showed no such influence. Venture capital backing does not appear to play a significant role in either period. Our findings suggest that since 2014, the dual-class IPO landscape has evolved in response to changing market dynamics, particularly reflecting the rise of high-growth technology firms and shifting norms around control and governance at the time of going public. These insights contribute to the ongoing discussion around dual-class structures and their implications for capital market development. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:156904 |
| By: | Véronique Genre; Alice Magniez; David Nefzi; François Robin |
| Abstract: | As part of the G20 initiative to develop new climate indicators, we propose an original measure of the carbon footprint of French companies' foreign direct investment based on the CO2 emissions of around 2, 500 French multinational groups. This footprint is greater in Asia and Africa, even though the amounts invested are relatively lower. <p> S’inscrivant dans l’initiative du G20 visant à développer de nouveaux indicateurs climat, nous proposons une mesure originale de l'empreinte carbone des investissements directs étrangers des entreprises françaises basée sur les émissions de CO2 d'environ 2 500 groupes multinationaux français. Cette empreinte est plus forte en Asie et en Afrique alors que les montants investis y sont relativement plus faibles. |
| Date: | 2025–07–23 |
| URL: | https://d.repec.org/n?u=RePEc:bfr:econot:409 |
| By: | Charles-Edouard Despret (Nantes Univ - UFR DSP - Nantes Université - UFR Droit et Sciences Politiques - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université, DCS - Droit et changement social - CNRS - Centre National de la Recherche Scientifique - Nantes Univ - UFR DSP - Nantes Université - UFR Droit et Sciences Politiques - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université, CREOGN - Centre de recherche de l'École des officiers de la gendarmerie nationale, INASP - institut national des affaires stratégiques et politiques) |
| Abstract: | The territorial claims of certain hegemonic states and the increase in the number of nuclear-weapon countries have an impact on the world economy and the maritime trade routes it uses for the majority of its industrial and commercial flows. Indeed, open conflicts between riparian states, but also the significant contestation of the existence of certain other states in Eurasia, generate geopolitical instability in this space. This instability is accentuated by the nuclear deterrent used by most belligerents. Global maritime navigation and merchant shipping are impacted by these conflicts, which require consideration of potential risks related to the nationality of the shipowner (e.g. Israel and Western countries) or the maritime activity carried out (e.g. hydrocarbons). |
| Abstract: | Les prétentions territoriales de certains États hégémoniques et l'augmentation du nombre de pays détenteurs de l'arme nucléaire ont une conséquence sur l'économie mondiale et les routes maritimes commerciales qu'elle emprunte pour la majorité de ses flux industriels et commerciaux. En effet, les conflits ouverts entre États riverains, mais aussi la contestation prégnante de l'existence de certains autres États en Eurasie, engendrent une instabilité géopolitique dans cet espace. Cette instabilité est accentuée par la dissuasion nucléaire employée par la plupart des belligérants. La navigation maritime mondiale et la marine marchande sont impactées par ces conflits, qui nécessitent la prise en compte des risques potentiels liés à la nationalité de l'armateur (par exemple Israël et les pays occidentaux) ou à l'activité maritime exercée (par exemple les hydrocarbures). Les passages obligés que sont les détroits et canaux à statut international sont de facto impactés par ces conflits et les risques qu'ils engendrent. Cette vulnérabilité liée à l'étroitesse de ces passages obligés, et du flux important de navires dans ces eaux, sont le fait opportuniste de certaines actions politiques, voire militaires, qui limitent la liberté de circulation de la marine marchande, l'intégrité des navires et de leurs marchandises. L'emprunt de nouvelles routes maritimes est une solution parfois choisie par certains armateurs pour limiter ces risques. |
| Date: | 2025–08–26 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05251504 |
| By: | International Monetary Fund |
| Abstract: | 2025 Selected Issues |
| Date: | 2025–09–19 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2025/273 |
| By: | Liaquat, Sidra; Escartín, Jordi; Coyle-Shapiro, Jacqueline A-M. |
| Abstract: | In light of a Volatile, Uncertain, Complex and Ambiguous (VUCA) world, the need for employee adaptability is a critical capacity to navigate challenges and facilitate employees thriving in organizations. One important capacity, systems intelligence, captures employees’ ability to think, adapt and act effectively in interactions with systems. In a three-wave longitudinal study, we examine the relationship between systems intelligence (SI), job crafting (JC), and job performance (JP) over time. We employ the job demands-resources model to demonstrate that SI increases JP, hypothesizing that job resources, as manifested in JC, act as mediator between personal resources (SI) and JP. Data were collected from employees in Pakistan working across the banking, telecommunications, information technology, and engineering sectors. In the first wave, 303 participants completed the survey using validated self-report measures, followed by 212 in the second wave, and 99 in the third wave, each two months apart. Our findings show that systems intelligence at Time 1 was positively related to job performance at Time 3 but not Time 2. We found no significant association of SI at Time 1 with JC at Time 2 or Time 3. JC at Time 2 did not mediate the effects of SI at Time 1 on JP at Time 3. However, JC (T1 & T2) had a significant positive effect on JP (T2 & T3). Overall, our findings suggest that the pathways from systems intelligence and job crafting to job performance are independent. This dual pathway to performance has important theoretical implications as well as practical implications for organizations. Organizations can improve team and individual productivity by fostering systems intelligence and promoting job crafting behaviours. This research directs the attention of leaders and HR functions to the value of tailored interventions in developing these abilities and achieving long-term success and adaptive performance in the workforce. |
| Keywords: | systems intelligence; job performance; crafting behaviours; job resources; personal resources; longitudinal analysis; job demands-resources model; resource substitution |
| JEL: | J50 L81 |
| Date: | 2025–09–14 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:129592 |
| By: | Claire Duchene; Benoît Bayenet; Ilan Tojerow |
| Abstract: | La pénurie de médecins généralistes suscite des préoccupations concernant la disponibilité des soins de première ligne, notamment en Belgique. Bien que les intensités soient différentes, toutes les Régions du pays sont confrontées à un manque d’effectif médical de première ligne. La pénurie, due à la fois à un manque de médecins généralistes actifs et une mauvaise répartition géographique de ceux-ci, provoque des conséquences préoccupantes tant pour les patients que pour les médecins. Au travers de la littérature scientifique, ce policy brief propose une analyse de la situation belge, en se penchant sur la planification médicale de l’offre ainsi que sur les différentes politiques publiques permettant de rééquilibrer la répartition géographique des médecins généralistes. |
| Date: | 2024–02–08 |
| URL: | https://d.repec.org/n?u=RePEc:dul:bpaper:2013/393523 |
| By: | Abderraouf Ben Ahmed Mtiraoui (MOFID-Université de Sousse); Samira Chaabene (USO - جامعة سوسة = Université de Sousse = University of Sousse); Radhia Maskhi (USO - جامعة سوسة = Université de Sousse = University of Sousse) |
| Abstract: | This study explores the impact of the energy transition on sustainable development in developing countries, focusing on pollution reduction, climate adaptation, and resilience. From 2000 to 2022, international funding, incentive policies, and capacity-building initiatives enabled the deployment of solar panels and small wind turbines, fostering job creation, reducing emissions, and improving energy access. A simultaneous equations model is used to examine the interactions between economic, institutional, social, and environmental factors. The research highlights the role of renewable energy, innovative policies, and localized initiatives in driving sustainable progress. Findings demonstrate how clean energy reduces greenhouse gases, strengthens institutional frameworks, and improves living conditions for vulnerable groups. Special attention is given to rural and isolated areas, where renewable energy fosters socio-economic and environmental benefits. |
| Keywords: | Energy Transition, Sustainable Development, Developing Countries, Simultaneous Equation Model |
| Date: | 2024–07–26 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05212133 |
| By: | Saroj, Sunil; Vidhani, Vandana Shankar; Kumar Burman, Amit |
| Abstract: | The Capacity Strengthening Workshop on Best Practices in Impact Evaluation, Data Interpretation, and Agricultural Policy Analysis (Phase 1) was conducted on April 22-23, 2025, aiming to build the foundational skills of fieldbased government officials in using agricultural data for informed decision-making. To strengthen its initiative on developing the Inclusive Agriculture Transformation (IAT) indicator, IFPRI has proposed a three-phased capacity-building program for key departmental staff. The objective is to enhance their understanding of the importance of data and its systematic maintenance. This initial phase focused on enhancing participants' understanding of various agricultural datasets and equipping them with basic skills in data interpretation and visualization. The workshop was inaugurated by Dr. Arabinda Kumar Padhee, Principal Secretary to Government, Department of Agriculture & Farmers’ Empowerment, Government of Odisha. The workshop was designed as part of a comprehensive capacity-building initiative to support the Inclusive Agriculture Transformation (IAT) framework, promoting evidence-based policy formulation and implementation. |
| Keywords: | agriculture; capacity development; decision making; impact assessment; India; Asia; Southern Asia |
| Date: | 2025–08–14 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:fprepo:176135 |
| By: | Srivastava, Nandita; Hema, Aboubacar; Babu, Suresh Chandra; Ulimwengu, John M.; Benin, Samuel |
| Abstract: | Niger faces rampant food insecurity, malnutrition, and environmental degradation. The transformation of food systems to tackle such challenges hinges on the capacity and effectiveness of institutional frameworks. To analyze the status, challenges, and strengths of Niger’s food system, a mapping and capacity needs assessment was conducted at three levels—enabling environment, institutional, and individual. Based on the assessment, leadership concerns on strategic guidance were observed at the policy process level, with major issues such as the incidence of corruption, infrastructure constraints, and lack of reliable data availability. At the institutional level, lack of an interconnected network and mutual accountability, resource and funding constraints, and high staff turnover have adversely impacted overall institutional performance. Availability of reliable data evidence is limited or absent due to weak monitoring and evaluation systems and decentralized capacity, lack of sufficient local support, transparency issues in strategy development, and selection bias. At the individual level, there is a need to improve technical capacity on analytical thinking, quantitative and qualitative research tools, and the dissemination of communication, outreach, and information. Despite the climate change-related challenges in the country, there is less focus on environmental management, adaptation, and advanced technology implementation. The underrepresentation of key areas such as socio-cultural dynamics, governance, social protection, and cross sectoral collaboration indicates a potential lack of integration in policymaking and implementation. Overall, there is an urgent need to reallocate resources to enhance the focus on underrepresented yet critical food systems areas, enhance inter-ministerial and cross-sectoral collaboration to ensure a more integrated approach to food systems management, and incorporate social inclusion and equity considerations. Forward-looking strategies should be developed that anticipate and respond to emerging challenges such as demographic shifts, globalization effects, and technological changes. |
| Keywords: | food systems; food insecurity; malnutrition; capacity assessment; environmental degradation; governance; institutions; Niger; Africa; Sub-Saharan Africa; Western Africa |
| Date: | 2025–09–04 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:ifprid:176348 |
| By: | Ferrari, Giorgio (Center for Mathematical Economics, Bielefeld University); Rodosthenous, Neofytos (Center for Mathematical Economics, Bielefeld University) |
| Abstract: | We study a class of singular stochastic control problems for a one-dimensional diffusion $X$ in which the performance criterion to be optimised depends explicitly on the running infimum $I$ (or supremum $S$) of the controlled process. We introduce two novel integral operators that are consistent with the Hamilton-Jacobi-Bellman equation for the resulting two-dimensional singular control problems. The first operator involves integrals where the integrator is the control process of the two-dimensional process $(X, I)$ or $(X, S)$; the second operator concerns integrals where the integrator is the running infimum or supremum process itself. Using these definitions, we prove a general verification theorem for problems involving two-dimensional state-dependent running costs, costs of controlling the process, costs of increasing the running infimum (or supremum) and exit times. Finally, we apply our results to explicitly solve an optimal dividend problem in which the manager’s time-preferences depend on the company’s historical worst performance. |
| Keywords: | singular stochastic control, one-dimensional diffusions, running infimum, running supremum, free boundary, optimal dividends |
| Date: | 2025–08–18 |
| URL: | https://d.repec.org/n?u=RePEc:bie:wpaper:745 |
| By: | Ram Prasad Nepal (Ph.D. Scholar, Dept. of Management, Sikkim University, Sikkim,); Pradip Kumar Das (Assistant Professor, Dept. of Management, Sikkim University Sikkim,) |
| Abstract: | The situation in the Indian state of Sikkim illustrates the changes in the practices and policies of vocational and technical education due to the fourth sustainable development goal (SDG4) which focuses on education in all its forms and dimensions. Through the utilization of secondary data, government documentation, and regional reports from NITI Aayog, this research aims to explore the influence of vocational policies and the NEP 2020 on the evolving education landscape of Sikkim. This research attempts to develop a hypothesis which requires that investments into skill development at different stages in the education paradigm increases the qualitative and quantitative standards of employment, thus shifting the norm from traditional to self-employment. This research targets the transformation in Sikkim's institutions, its youth, and its governance in pursuit of fulfilling SDG 4 through education and skill training. Preliminary data illustrates the use of NSQF modules and 'bagless days' that are integrated into primary education, livelihood schools, and skill-based work exposure, which are aimed at raising the certification, employment and entrepreneurship levels in NEP 2020, PMKVY, Atmanirbhar Bharat. |
| Keywords: | Skill Development, Sikkim, NEP 2020, SDG-4, Sikkim Vocational Education, Sikkim Vocational Education SDG-4 NEP 2020 Sikkim Skill Development |
| Date: | 2025–08–16 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05217105 |