nep-inv New Economics Papers
on Investment
Issue of 2025–10–06
28 papers chosen by
Daniela Cialfi, Università degli Studi di Teramo


  1. Wage reforms and equality gains: evidence from Greece By Bechlioulis, Alexandros P.; Chletsos, Michael; Christou, Tryfonas; Karadimitropoulou, Aikaterini E.
  2. Price and volatility transmission from international to domestic food and fertilizer markets in Central America By Hernandez, Manuel A.; Ceballos, Francisco; Berrospi, Maria Lucia; Perego, Viviana Maria Eugenia; Brown, Melissa; Lopez, Elena Mora
  3. Unpacking Wage Inequality: Minimum Wage Effects on Within- and Between-Firm Disparities By Liang, Ying
  4. Wie denkt Kant? Ein Interpretationsvorschlag aus ordonomischer Sicht By Pies, Ingo
  5. From Job Titles to ISCO Codes: Enhancing Occupational Classification With RAG-based LLMs By Bach, Ruben L.; Klamm, Christopher; Heyne, Stefanie; Kogan, Irena; Kononykhina, Olga; Jarck, Jana
  6. Macroeconomic regime change and the size of supply chain disruption and energy supply shocks By De Santis, Roberto A.; Tornese, Tommaso
  7. Disentangling Small-Scale Solar Photovoltaic Adoption: A Spatial Analysis of Decision Factors and Localized Interactions in Germany By Sieger, Lisa; Weber, Christoph; Stein, Tobias
  8. Identity and Institutional Change: Evidence from First Names in Germany, 1700–1850 By Matthias Weigand; Cathrin Mohr; Davide Cantoni
  9. How digital media markets amplify news sentiment By Berger, Lara Marie
  10. Inlandsnachfrage trägt Konjunktur – Fiskalpolitik kompensiert Exportflaute - Prognose der wirtschaftlichen Entwicklung 2025/2026 By Christian Breuer; Sebastian Dullien; Alexander Herzog-Stein; Katja Rietzler; Sabine Stephan; Thomas Theobald; Silke Tober; Sebastian Watzka
  11. Political Budget Cycles in Federal Systems: The Case of India By Theocharopoulos, Konstantinos; Das, Sourav; Hufschmidt, Patrick; Mankat, Fabian
  12. México | Desigualdades laborales entre hombres y mujeres en México By Marco Lara; Crista Pérez
  13. Tokenization and Interconnectedness: A Numerical Exploration By Alessandro Gioffré; Gabriele Camera
  14. Une crise agricole mais quelle crise? By Annick Vignes
  15. Bismarck et la fabrique du système de retraite : retour sur la soutenabilité financière d’un modèle inachevé By Claude Diebolt
  16. Interstate Conflict and Trade: The Montesquieu Model By Mueller, Gernot
  17. Fully Self-Justifiable Outcomes By Francesc Dilmé
  18. The Effect of Public Sector Relocations on Regional Development in Germany By Freitas, Dimitria
  19. Animal spirits on steroids: Evidence from retail options trading in India By Agarwal, Vikas; Ghosh, Pulak; Prabhala, Nagpurnanand R.; Zhao, Haibei
  20. Can role models and skills training increase women’s voice in asset selection? Experimental evidence from Odisha, India By Kosec, Katrina; Kyle, Jordan; Narayanan, Sudha; Raghunathan, Kalyani; Ray, Soumyajit
  21. Naïve Consumers and Financial Mistakes By Exler, Florian; Hansak, Alexander
  22. Power and Values: The Gap Between Capitalist Mindsets and Capitalism By J. Atsu Amegashie
  23. Population aging, inequality and public policy By von Muschwitz, Florian
  24. A migration miracle? Indian migration to Germany: Opportunities and challenges By Kipp, David
  25. Living Wage Update Report: Rural Costa Rica, Limón and Heredia Provinces, 2025 By Daniela Cubas; Lykke E. Andersen; Marcelo Delajara; Richard Anker; Martha Anker
  26. Living Wage Update Report: Managua, Nicaragua, 2025 By Lykke E. Andersen; Guillermo Guzmán Prudencio; Marcelo Delajara; Richard Anker; Martha Anker
  27. Living Wage Update Report Rural Areas and Small Towns of Chiapas, Mexico 2025 By Lykke E. Andersen; Marcelo Delajara; Sergio Chumacero; Richard Anker; Martha Anker
  28. Income inequality and the trade-off between socio-economic and ecological goals By Flechtner, Svenja; Middelanis, Martin

  1. By: Bechlioulis, Alexandros P.; Chletsos, Michael; Christou, Tryfonas; Karadimitropoulou, Aikaterini E.
    Abstract: This paper examines whether minimum wage reforms affect income inequality among low-wage workers. We construct a novel “within-occupation” measure of wage dispersion, using a Greek dataset between 2010 and 2020. Using modern difference-in-differences analysis for causal inference, our findings show non-symmetrical effects on wage dispersion when a minimum wage reform is imposed. In particular, the minimum wage cut of 2012 did not alter the wage dispersion of low-wage workers, while the minimum wage increase of 2019 led to a decrease in wage inequality at the bottom segment of the labor market. Our paper equips policymakers with a solid understanding of the effects of minimum wage reforms on wage inequality and highlights the important role of wage rigidities in shaping these effects.
    Keywords: income inequality; wage inequality; minimum wage reform; modern difference-in-difference analysis; quantile regression
    JEL: C31 J08 J31
    Date: 2025–07
    URL: https://d.repec.org/n?u=RePEc:ehl:lserod:129622
  2. By: Hernandez, Manuel A.; Ceballos, Francisco; Berrospi, Maria Lucia; Perego, Viviana Maria Eugenia; Brown, Melissa; Lopez, Elena Mora
    Abstract: Following recent major global shocks that resulted in significant spikes in international food and fertilizer prices, this study analyses the degree of price and volatility transmission from international to selected domestic food and fertilizer markets across seven countries in Central America. We follow a multivariate GARCH approach using monthly data over the period 2000–2022. We find varying results by country and commodities and an overall low to moderate degree of price transmission in levels, but a stronger degree of volatility transmission. We similarly observe some changes in the degree of co-movement between international and domestic price variations over time—depending on the market and commodity under consideration—including after the COVID-19 pandemic and Russia’s invasion of Ukraine as well as after the 2007-2008 food price crisis. Back-of-the-envelope calculations of the effect of an increase in international prices of different food and fertilizers mimicking the peak inflation observed in 2022 reveal small yet non-negligible effects on consumer and producer welfare in Central American countries, which however do not match the magnitude of the food security crisis observed in the region.
    Keywords: shock; food prices; fertilizers; markets; price volatility; inflation; food security; welfare; Central America
    Date: 2024–12–02
    URL: https://d.repec.org/n?u=RePEc:fpr:ifprid:162957
  3. By: Liang, Ying
    JEL: J31 J38 J21
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc25:325468
  4. By: Pies, Ingo
    Abstract: Dieser Aufsatz interpretiert Kant aus ordonomischer Sicht: Wie denkt Kant, und warum denkt er so, wie er denkt? - Kant will die Menschenwürde begründen. In dieser Absicht entwickelt er die Idee, den höchsten Grundsatz der Moral als Zweck zu denken, der zugleich Pflicht ist. So identifiziert er eine spezifische Form, mit der jeder Mensch den kategorischen Imperativ als moralisches Prüfkriterium anwenden kann. An die Allgemeinheit dieser Form knüpft Kant die Allgemeinheit der Menschenwürde. Kants Rigorismus, seine Purifizierungsstrategie, bezieht sich deshalb allein aufs Denken, nicht aufs Handeln. Er begrüßte es, wenn ein Handeln aus Pflicht von eigenen Interessen, von "Lust und Liebe" begleitet wird. Für eine zeitgenössische Theoriebildung sind vor allem zwei Aspekte von besonderem Interesse: (a) Kant wusste um die Bedeutung institutioneller Anreize für moralischen Fortschritt; (b) Kants Theoriearchitektur verwendet Zweckmäßigkeit als regulative Idee und zielt darauf ab, Theorie für die Praxis zu betreiben, indem sie Ideen denkt, die ihrer eigenen Verwirklichung vor- und zuarbeiten.
    Abstract: This article interprets Kant from an ordonomic perspective: How does Kant think, and why does he think the way he does? - Kant seeks to ground human dignity. To this end, he conceives the idea of thinking the supreme principle of morality as an end that is at the same time a duty. He thus identifies a specific form that enables every person to apply the categorical imperative as a moral criterion. Kant ties the universality of this form to the universality of human dignity. His rigorism-his strategy of purification-thus concerns thinking, not acting. He welcomed actions done from duty, even when they were accom- panied by personal interests, by "pleasure and love." For contemporary theory-building, two aspects are of particular interest: (a) Kant recognized the importance of institutional incentives for moral progress; (b) Kant's theoretical architecture employs purposiveness as a regulative idea and aims to produce theory for practice-by formulating ideas that anticipate and prepare their own realization.
    Keywords: Vernunftphilosophie der Freiheit, moralische und politische Autonomie, Menschenwürde, Vorrang des Rechten vor dem Guten, Zweckmäßigkeit als regulative Idee, Konflikt als Motor des Fortschritts, Liberal philosophy of reason, moral and political autonomy, human dignity, priority of the right over the good, purposiveness as a regulative idea, conflict as a driver of progress
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:mlucee:327135
  5. By: Bach, Ruben L.; Klamm, Christopher; Heyne, Stefanie; Kogan, Irena; Kononykhina, Olga; Jarck, Jana
    Abstract: Accurate occupational classification from open-ended survey responses is vital for research in sociology, economics, and political science, yet manual coding remains resource-intensive and difficult to scale. We propose a novel pipeline that leverages large language models (LLMs) augmented with retrieval (RAG) to automate the assignment of International Standard Classification of Occupations (ISCO) codes. Drawing on survey data from a sample of recently arrived Afghan and Syrian refugees in Germany, we preprocess noisy occupational descriptions using LLMs and apply vector-based similarity search to retrieve candidate ISCO codes. The final classification is selected by LLMs, constrained to the retrieved candidates and accompanied by interpretable justifications. We evaluate the system’s performance against expert-coded labels, demonstrating high agreement and robustness across languages. Our findings suggest that RAG-powered LLMs can substantially improve the accuracy, scalability, and accessibility of occupational classification, with particular benefits for multilingual and resource-constrained research settings. In addition, we describe a prototypical pipeline that other researchers can readily adapt for applying LLMs to similar classification tasks, facilitating transparency, reproducibility, and broader adoption.
    Date: 2025–09–24
    URL: https://d.repec.org/n?u=RePEc:osf:socarx:ge56f_v1
  6. By: De Santis, Roberto A.; Tornese, Tommaso
    Abstract: The COVID-19 pandemic and Russia’s invasion of Ukraine have complicated macroeconomic forecasting and policymaking due to unprecedented disruptions in supply chains and energy markets, suggesting a new macroeconomic regime. However, we are unable to reject the null hypothesis of no structural break in March 2020. We then examine whether these shocks have increased post-COVID-19. Their sizes were initially elevated, but then have been gradually returning to pre-pandemic levels. The linear and nonlinear models reveal that supply chain disruptions cause persistent increases in expected inflation and headline goods prices, while energy supply shocks have a transitory inflation effect. The nonlinear model shows that real GDP is adversely affected by supply shocks in low growth periods. JEL Classification: C32, E32
    Keywords: business cycles, energy shocks, narrative identification, nonlinearities, supply-chain disruption shocks, TVAR
    Date: 2025–09
    URL: https://d.repec.org/n?u=RePEc:ecb:ecbwps:20253120
  7. By: Sieger, Lisa; Weber, Christoph; Stein, Tobias
    JEL: C31 Q28 Q55 R12
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc25:325393
  8. By: Matthias Weigand; Cathrin Mohr; Davide Cantoni
    Abstract: How does culture respond to institutional change? We study the collapse of the Holy Roman Empire (1789–1815), when half of Central Europe changed rulers. Using 44 million birth records from hundreds of cities between 1700 and 1850, we measure cultural traits in real time. Cities that experienced ruler change saw greater naming turnover, dispersion, and novelty. We construct control groups using diplomatic records to isolate these effects, which emerged immediately and persisted. The collapse of hegemonic authority weakened state-aligned identities while strengthening religiosity and nationalism. These shifts undermined subsequent state building, highlighting challenges of ideological integration after regime change.
    Keywords: institutional change, cultural persistence, identity formation
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:ces:ceswps:_12155
  9. By: Berger, Lara Marie
    JEL: D83 D91 G41 L82
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc25:325388
  10. By: Christian Breuer (Macroeconomic Policy Institute (IMK)); Sebastian Dullien (Macroeconomic Policy Institute (IMK)); Alexander Herzog-Stein (Macroeconomic Policy Institute (IMK)); Katja Rietzler (Macroeconomic Policy Institute (IMK)); Sabine Stephan (Macroeconomic Policy Institute (IMK)); Thomas Theobald (Macroeconomic Policy Institute (IMK)); Silke Tober (Macroeconomic Policy Institute (IMK)); Sebastian Watzka (Macroeconomic Policy Institute (IMK))
    Abstract: Die deutsche Wirtschaft ist im Herbst 2025 nach einer mehrjährigen Rezession zwiegespalten zwischen einer aufwärtsgerichteten Binnenkonjunktur und einem bremsenden Außenhandel. So liefert die Binnennachfrage einen Wachstumsbeitrag in Höhe von 1, 7 % für das BIP im laufenden Jahr. Jedoch wird dieser Zuwachs durch den von Konflikten belasteten Außenhandel nahezu vollständig aufgezehrt. Während die Konsumausgaben der privaten Haushalte und des Staates 2025 um 1, 2 % bzw. 2, 1 % zunehmen, werden die Exporte um 1, 2 % sinken. Der binnenwirtschaftliche Aufschwung wird im kommenden Jahr an Dynamik gewinnen. Die Konsumausgaben der privaten Haushalte sowie des Staates werden mit 1, 6 % bzw. 2, 3 % spürbar zunehmen und die Bruttoanlageinvestitionen werden infolge der öffentlichen Investitionen in Infrastruktur und Verteidigung um rund 5 % steigen. Allerdings sind die Probleme für den deutschen Außenhandel mit der Einigung zwischen den USA und der EU im Zollkonflikt nicht gelöst. So dürfte der Außenbeitrag auch im kommenden Jahr das Wachstum des BIP belasten. Insgesamt beträgt das Wachstum des BIP im Jahr 2025 0, 2 % und im kommenden Jahr 1, 4 %. Die Beschäftigung wird im Prognosezeitraum stabil bleiben. Die Arbeitslosenquote steigt in diesem Jahr merklich an und wird im kommenden Jahr leicht sinken. Das staatliche Budgetdefizit wird 2025 leicht auf 2, 3 % des BIP zurückgehen, bevor es 2026 den Maastricht-Grenzwert mit 3, 2 % übersteigt.
    Keywords: Konjunkturprognose, Weltwirtschaft, Investitionen, Bruttoinlandsprodukt, Fiskalpolitik
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:imk:report:197-2025
  11. By: Theocharopoulos, Konstantinos; Das, Sourav; Hufschmidt, Patrick; Mankat, Fabian
    JEL: D83 E62 H70 H72
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc25:325416
  12. By: Marco Lara; Crista Pérez
    Abstract: This document analyzes labor and wage inequalities between men and women in Mexico, with an initial contextualization and an international comparison with the OECD. Using ENOE data, it examines the persistence of existing gaps, while reviewing international recommendations and progress made in the financial sector. This document analyzes labor and wage inequalities between men and women in Mexico, with an initial contextualization and an international comparison with the OECD. Using ENOE data, it examines the persistence of existing gaps, while reviewing international recommendations and progress made in the financial sector.
    Keywords: Inequalities, Desigualdades, labor market, mercado laboral, OECD, OCDE, Hours worked, Jornada laboral, Unpaid Care Work, trabajo de cuidado no remunerado, Mexico, México, Social Sustainability, Sostenibilidad Social, Working Paper, Documento de Trabajo
    JEL: J16 J31 J22 J71
    Date: 2025–09
    URL: https://d.repec.org/n?u=RePEc:bbv:wpaper:2512
  13. By: Alessandro Gioffré (University of Florence); Gabriele Camera (Economic Science Institute, Chapman University)
    Abstract: Tokenization of assets has multiple implications for the operation of financial markets, among which are mitigating trade frictions and improving the interconnectedness of financial firms. This feature—if not properly managed—can propagate shocks more widely as compared to a traditional system. We study this double-edged aspect of tokenization using a matching model that makes explicit how firms are exposed to counterparty risk. We propose a way to manage this increased risk, through Financial Transactions Limiters, which exploit the technical advantages of tokenization in monitoring financial transactions of individual firms. We numerically analyze the possible social welfare consequences of tokenization, in both the short and long run, based on the economy’s fundamentals.
    Keywords: matching models, fintech, contagion
    JEL: C6 D6 E5
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:chu:wpaper:25-08
  14. By: Annick Vignes (CAMS - Centre d'Analyse et de Mathématique sociales - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique, LISIS - Laboratoire Interdisciplinaire Sciences, Innovations, Sociétés - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Université Gustave Eiffel)
    Abstract: The article analyzes agricultural crises, highlighting their specific nature: beyond classic economic mechanisms, they directly affect food security and sovereignty, often triggering social and political tensions. Their causes include climate shocks, animal and plant diseases, global price fluctuations, rising input costs, and structural issues such as rural exodus, aging farmers, and soil degradation. Historically, agricultural crises have alternated between overproduction (price collapse, bankruptcies, waste) and underproduction (famine, malnutrition). Industrialization and mechanization boosted productivity but also increased dependence on capital and global markets, leaving many producers vulnerable. The current crisis (2023–2024) is part of a broader European wave of farmers' mobilizations. Their demands concern low incomes, heavy taxation, unfair competition, the burden of environmental regulations, and a call for recognition. This crisis is as much moral and cultural as economic, reflecting the end of the post-war productivist model. Price support policies, such as the CAP's guaranteed prices, once secured farmers' income and boosted production, but led to costly and environmentally damaging overproduction. Today, the proposal of minimum prices re-emerges, but raises concerns about competitiveness, consumer costs, and perverse effects. Alternative solutions include targeted subsidies, quality-based regulation, and support for agroecological transition. In conclusion, today's agricultural crisis is systemic—economic, climatic, social, and cultural. It signals the end of a cycle and an opportunity to reinvent a sustainable agricultural model that reconciles food security, social justice, and ecological transition.
    Abstract: L'article analyse les crises agricoles en soulignant leur spécificité : au-delà des mécanismes économiques classiques, elles touchent à la sécurité et à la souveraineté alimentaires, pouvant provoquer des tensions sociales et politiques. Elles résultent d'aléas climatiques, de maladies, de fluctuations des prix mondiaux, de la hausse des intrants ou de difficultés structurelles (exode rural, vieillissement, dégradation des sols). Historiquement, les crises agricoles alternent entre surproduction (chute des prix, faillites, gaspillage) et sous-production (famine, malnutrition). L'industrialisation et la mécanisation ont accru la productivité mais aussi la dépendance au capital et aux marchés mondiaux, fragilisant de nombreux producteurs. La crise actuelle (2023-2024) s'inscrit dans un contexte européen marqué par des mobilisations d'agriculteurs. Leurs revendications portent sur la faiblesse des revenus, le poids fiscal, la concurrence jugée déloyale, l'empilement des normes environnementales et un besoin de reconnaissance. La crise est autant économique que morale et culturelle, traduisant la fin d'un modèle productiviste hérité d'après-guerre. Les politiques de soutien aux prix, comme les prix garantis de la PAC, ont permis dans le passé de sécuriser les revenus et d'augmenter la production, mais au prix d'une surproduction coûteuse et écologiquement néfaste. Aujourd'hui, l'idée de prix planchers réapparaît, mais suscite de vifs débats sur la compétitivité, l'impact sur les consommateurs et les risques d'effets pervers. Des solutions alternatives sont envisagées : subventions ciblées, régulation par la qualité et accompagnement de la transition agroécologique. En conclusion, la crise agricole actuelle est systémique – économique, climatique, sociale et culturelle. Elle marque la fin d'un cycle et ouvre une opportunité pour réinventer un modèle agricole durable, conciliant sécurité alimentaire, justice sociale et transition écologique.
    Keywords: Marchés agricoles, Crise agricole, prix agricoles, Transition agroécologique, industrialisation
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:hal:journl:hal-05281779
  15. By: Claude Diebolt
    Abstract: Cet article propose une relecture critique et cliométrique du système d’assurance vieillesse et invalidité instauré en Allemagne à partir de 1889 sous l’impulsion de Bismarck. Loin du mythe d’un modèle fondateur maîtrisé, il met en lumière les nombreuses fragilités d’un dispositif confronté, dès ses débuts, à des déséquilibres financiers, à des effets d’incitation non anticipés et à d’importantes disparités régionales. Construit sur une logique capitalisante sans mécanisme d’ajustement progressif des cotisations, le système révèle rapidement une insoutenabilité structurelle, aggravée par une dynamique des dépenses plus soutenue que celle des recettes. L’analyse quantitative mobilise un ensemble inédit de séries statistiques portant sur les rentes, les cotisations, les frais de gestion et leur distribution territoriale. Elle met en évidence la croissance spectaculaire des rentes d’invalidité, préférées par les assurés pour leur accessibilité et leur rendement comparatif, au détriment des rentes de vieillesse. Le taux de remplacement demeure très faible, révélant ainsi les limites assurantielles du dispositif et son incapacité à garantir un revenu de substitution suffisant. Au-delà de l’étude historique, ce travail ambitionne de nourrir la réflexion contemporaine sur la soutenabilité des systèmes de retraite. Il invite à repenser les fondements économiques, sociaux et politiques des régimes contributifs, et souligne l’importance de la confiance intergénérationnelle et de l’adaptabilité institutionnelle face aux mutations démographiques. L’expérience allemande de la fin du XIXe siècle, à bien des égards, entre en résonance avec les questionnements actuels en France sur l’équilibre et la légitimité des politiques de retraite.
    Keywords: Retraite, Bismarck, Assurance sociale, Soutenabilité financière, Cliométrie
    JEL: N33 H55 I38 J14 C82
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:ulp:sbbeta:2025-28
  16. By: Mueller, Gernot
    JEL: F1
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc25:325445
  17. By: Francesc Dilmé
    Abstract: An equilibrium outcome of a game in extensive form is fully self-justifiable if it is supported by justifiable equilibria (McLennan, 1985) regardless of the order in which actions implausible under the given outcome are excluded. We show that the set of fully self-justifiable outcomes is non-empty and contains the set of sequentially stable outcomes (Dilmé, 2024). In signaling games, fully self-justifiable outcomes pass all the selection criteria in Cho and Kreps (1987). Full self-justifiability allows for the systematic use of the logic of selection criteria in signaling games to select equilibria in any finite extensive form game.
    Keywords: Justfiable equilibira, sequentially stable outcomes
    JEL: C72 C73
    Date: 2025–10
    URL: https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2025_702
  18. By: Freitas, Dimitria
    Abstract: Regional economic disparities within countries have become increasingly large, often surpassing the disparities observed between countries. To address regional inequality, governments have been turning away from standard subsidies and are experimenting with public employment reallocation as a place-based policy. This paper estimates the causal effect of public employment reallocation on local labor markets. I study the 'Heimatstrategie, ' which relocates around 3, 000 public sector jobs from Munich to economically lagging regions in Bavaria, Germany. Using novel data on 60 agency relocations between 2015 and 2025, I exploit the government's quantitative selection criteria for receiving municipalities and implement a long-differences design comparing treated Bavarian municipalities to Mahalanobis-matched control municipalities in other German states. My estimates show that relocations increased private sector employment shares by up to 2.3%, reduced unemployment rates by up to 11.9%, and increased local population by up to 1.6% without harming sending locations. These results correspond to a public-to-private jobs multiplier of 1.08. To assess general equilibrium effects the relocation program, I implement a quantitative spatial model with a two-sector (public and private) framework showing modest increases in amenities through the relocation counterfactual and negligible welfare effects.
    JEL: J21 J45 J68 R23
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc25:325457
  19. By: Agarwal, Vikas; Ghosh, Pulak; Prabhala, Nagpurnanand R.; Zhao, Haibei
    Abstract: We analyze a market-wide panel dataset on retail options trading from India, a market with an 80% share in option contracts traded worldwide. Retail traders both concentrated in and dominate index options trading. They exhibit short-term speculative behavior with significant day trading, short- duration directional bets especially as options converge to 0DTE and make significant losses. Three natural experiments indicate that financial constraints and lottery-like preferences likely shape investor behavior. An exogenous increase in the supply of short-maturity options induces trading. Lot-size increases and delivery margins trying to curb speculation are offset by shifts to small ticket-size, riskier options. While financial market participation increases welfare in canonical household finance models, it can also entrench speculative behavior that is difficult to undo.
    Keywords: Options, Retail Options Trading, Speculation, Skewness, Lotteries, Gambling, Addiction, Financial Inclusion, Stock Market Participation
    JEL: D14 D18 G14 G15 G18 G50 G53 O16
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:cfrwps:327125
  20. By: Kosec, Katrina; Kyle, Jordan; Narayanan, Sudha; Raghunathan, Kalyani; Ray, Soumyajit
    Abstract: We explore the impacts of exposing women to female role models and providing skills training on outcomes related to women’s aspirations and engagement in demanding assets under India’s Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)—the largest public works program in the world, which solicits citizen input on which assets to build and where. While the role model treatment exposes women to a video with stories of female role models from neighboring districts who successfully demanded assets, the skills training shows women how to identify individual and group needs for assets, frame their demands, and articulate them to public functionaries. In a randomized controlled trial spanning 94 villages and involving approximately 2, 600 women, we find that exposure to role models alone has limited impacts, but when combined with skills training, there are strong positive impacts on women’s aspirations and engagement in demanding assets. This reveals that even a light-touch training can significantly benefit women’s voice and agency in village decision-making.
    Keywords: civil society; decision making; gender; training; women's empowerment; India; Asia; Southern Asia
    Date: 2024–12–31
    URL: https://d.repec.org/n?u=RePEc:fpr:ifprid:169023
  21. By: Exler, Florian; Hansak, Alexander
    JEL: E21 E43 G18 G41 G51 K12
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc25:325371
  22. By: J. Atsu Amegashie
    Abstract: According to the economics Nobel laureate, Kenneth Arrow, “… capitalism is a flawed system. It probably has the same virtues as Churchill attributed to democracy: It’s the worst system except for any other.” Thus, capitalism is a necessary evil, but it is not inherently bad. I argue that most people have a capitalist mindset but do not have the power to be capitalists. There are different intensities of capitalist mindsets and constraints on the power of capitalists. Thus, there are different types of capitalism and, as a result, different socio-economic outcomes. I discuss the relationship between capitalism and economics and conclude that the perception that economists are cheerleaders of neoliberalism and capitalism may be wrong.
    Keywords: capitalism, economists, free market, power, regulation, values
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:ces:ceswps:_12177
  23. By: von Muschwitz, Florian
    JEL: J11 D31 D52 D91 E62
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc25:325362
  24. By: Kipp, David
    Abstract: The number of Indian migrants in Germany has risen sharply in recent years. In particular, they are helping alleviate the shortage of skilled workers in STEM professions. For Germany, India is the most important country of origin for labour and education migration. Currently, the profile of migration to Germany is changing: fewer experts are entering on the EU Blue Card (which, until recently, was the most important residence permit for skilled workers), while more students, trainees and professionally qualified people are coming to look for jobs or have their qualifications recognised by the German authorities. The Migration and Mobility Partnership Agreement (MMPA) concluded by Berlin and New Delhi in 2022 does not expand the German legal framework for recruiting skilled workers through the provision of new access routes. However, it does improve the practical implementation of self-organised migration from India - for example, by speeding up visa procedures. The MMPA Joint Working Group offers the opportunity not only to engage in a dialogue with the Indian government aimed at harnessing the full potential of increasing migration but also to address the challenges that have arisen from that trend, including the inadequate regulation of private recruitment agencies. The example of India shows that Germany's external infrastructure and migration-related development cooperation must be used much more effectively in countries of origin in order to develop new approaches to the fair and successful recruitment of skilled workers for the German labour market. Migration cooperation is a bridge builder in German-Indian relations, which are becoming increasingly important. Key areas of bilateral collaboration - such as digitisation, artificial intelligence and climate protection - should be systematically linked to knowledge exchange and the mobility of skilled professionals in these sectors.
    Keywords: Indian migrants, Germany, German-Indian relations, migrant workers, EU Blue Card, skilled workers, Migration and Mobility Partnership Agreement (MMPA), visa procedures, fair and successful recruitment, private agencies
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:swprps:327102
  25. By: Daniela Cubas (SDSN Bolivia); Lykke E. Andersen (SDSN Bolivia); Marcelo Delajara (Anker Research Institute); Richard Anker (Anker Research Institute); Martha Anker (Anker Research Institute)
    Abstract: This report provides updated estimates of family living expenses and living wage for rural areas in the Limón and Heredia Provinces of Costa Rica. This region focuses on agriculture, particularly banana and pineapple. The update for 2025 takes into account the complex dynamics of inflation and exchange rates since the original Anker living wage study carried out in May 2017 (Voorend, Anker & Anker, 2017).
    Keywords: Living costs, living wages, Anker Methodology, Costa Rica
    JEL: J30 J50 J80
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:iad:glliwa:250410
  26. By: Lykke E. Andersen (SDSN Bolivia); Guillermo Guzmán Prudencio (SDSN Bolivia); Marcelo Delajara (Anker Research Institute); Richard Anker (Anker Research Institute); Martha Anker (Anker Research Institute)
    Abstract: This report provides updated estimates of family living expenses and living wage for Managua, Nicaragua, with a focus on the manufacturing sector in the Free Trade Zone. The update for 2025 takes into account inflation and changes in payroll deductions since the original Anker living wage study carried out in November 2019 (Andersen, Anker & Anker, 2019).
    Keywords: Living costs, living wages, Anker Methodology, Nicaragua
    JEL: J30 J50 J80
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:iad:glliwa:250409
  27. By: Lykke E. Andersen (SDSN Bolivia); Marcelo Delajara (Anker Research Institute); Sergio Chumacero (SDSN Bolivia); Richard Anker (Anker Research Institute); Martha Anker (Anker Research Institute)
    Abstract: This report provides updated estimates of family living expenses and living wage for rural areas and small towns of Chiapas, Mexico. The update for June 2025 considers inflation and changes in payroll deductions since the original Anker living wage study carried out in November 2023 (Delajara, et al., 2023).
    Keywords: Living costs, living wages, Anker Methodology, Mexico
    JEL: J30 J50 J80
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:iad:glliwa:250416
  28. By: Flechtner, Svenja; Middelanis, Martin
    JEL: Q52 Q56
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc25:325403

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