|
on Investment |
| By: | Yasar, Serife |
| Abstract: | This paper studies how the introduction of a statutory minimum wage affects the gender wage gap within firms. I compare the residual gender wage gap in firms with and without minimum wage exposure before and after the reform using linked employer-employee data from Germany and employ a difference-in-differences approach in an event-study style with firm- and year-fixed effects. My results show that the introduction of the minimum wage led to a modest decline in the within-firm gender wage gap, with the clearest effects among incumbent workers and in the lower to middle part of the wage distribution. Effects differ across employment status, industries, and firm size. I find small wage changes in full-time jobs, a positive and significant post-reform effect for part-time workers, and no precise post-reform effects for marginal employment. These findings suggest that the effects of the minimum wage on the gender wage gap vary across worker groups and firm environments. A rich set of robustness checks, including alternative exposure thresholds and gender gap definitions, support my main findings. |
| Abstract: | Die vorliegende Publikation untersucht, wie sich die Einführung des gesetzlichen Mindestlohns auf den geschlechtsspezifischen Lohnunterschied innerhalb von Unternehmen auswirkt. Dafür wird die geschlechtsspezifische Lohnlücke in Unternehmen mit und ohne Mindestlohnbetroffenheit vor und nach der Reform verglichen. Datengrundlage sind administrative Lohndaten aus Deutschland. Methodisch wird ein Difference-in-Differences-Ansatz im Event-Study-Design mit Unternehmens- und Jahres-Fixeffekten angewendet. Die Ergebnisse zeigen, dass die Einführung des Mindestlohns zu einem moderaten Rückgang der innerbetrieblichen geschlechtsspezifischen Lohnlücke geführt hat, wobei die deutlichsten Effekte bei bestehenden Beschäftigten sowie im unteren bis mittleren Bereich der Lohnverteilung zu beobachten sind. Die Effekte unterscheiden sich nach Beschäftigungsstatus, Branchen und Unternehmensgröße. Es zeigen sich geringe Lohnveränderungen bei Vollzeitstellen, ein positiver und signifikanter Effekt nach der Reform für Teilzeitbeschäftigte sowie keine präzisen Effekte nach der Reform für geringfügig Beschäftigte. Diese Ergebnisse legen nahe, dass die Auswirkungen des Mindestlohns auf die geschlechtsspezifische Lohnlücke je nach Arbeitnehmergruppen und betrieblichen Rahmenbedingungen variieren. Eine umfangreiche Reihe von Robustheitsprüfungen, einschließlich alternativer Betroffenheit und Definitionen der Lohnlücke, stützt die Hauptergebnisse. |
| Keywords: | minimum wages, gender wage gap, within-firm wage inequality |
| JEL: | J23 J31 J38 J71 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwirep:341091 |
| By: | Mathilde Aubry (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School); Florian Favreau (IODE - Institut de l'Ouest : Droit et Europe - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); Ludovic Jeanne (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School); Sebastien Bourdin (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School) |
| Abstract: | Airbnb n'a même pas vingt ans. Et pourtant, le site est devenu un acteur majeur du tourisme. Sa création n'a pas seulement conduit à un transfert des hébergements, il acontribué à des changements profonds du secteur, répondant à de nouveaux besoins, mais créant aussi de nouveaux problèmes. Panorama des mutations induites par une entreprise née en 2007 du côté de San Francisco. |
| Keywords: | Tourisme, Economie numérique, Economie du partage, Airbnb, Voyage, Série d'été, Surtourisme, Economie |
| Date: | 2026–08–26 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05613813 |
| By: | Arindrajit Dube |
| Abstract: | California’s AB 1228 raised the minimum wage for large fast-food chains to $20 per hour in April 2024—roughly 77 percent of the state’s median hourly wage, the highest wage floor for fast-food workers in the U.S. Using QCEW data through 2025Q3, I estimate that the policy raised fast-food wages by about 7 percent. A conventional difference-in-differences yields an employment own-wage elasticity (OWE) of −0.19; synthetic difference-in-differences, which reweights controls to match California’s pretreatment trajectory, shrinks the OWE to −0.04. Newly available QWI data through 2024Q4 yield estimates that are on average more positive. Across 32 QCEW and QWI specifications, the OWE ranges from −0.29 to +0.26, bracketing the median OWE of −0.02 I compute across 27 post-2010 state minimum-wage events despite AB 1228’s much larger bite. The QWI also reveals a sharp reduction in the separation rate, with own-wage elasticities of −1.7 to −4.2—several times the restaurant-sector benchmark in Dube et al. (2016) and consistent with a monopsonistic quit-reduction channel. Wage and separation-rate effects concentrate among large employers covered by AB 1228, with limited spillovers. The fall in separations also helps reconcile the somewhat more negative QCEW employment estimates. |
| JEL: | J0 J20 J80 J88 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35171 |
| By: | David R. DeRemer (Nazarbayev University, Graduate School of Business); Venkat Subramanian (Nazarbayev University, Graduate School of Business); Aigerim Yergabulova (Nazarbayev University, Graduate School of Business) |
| Abstract: | The global value chain (GVC) approach offers valuable insights for resource-rich states pursuing economic diversification and enhanced resilience, due to its strengths in analyzing how policy shapes the tasks and linkages of state-owned enterprises (SOEs). By examining how state roles affect SOEs, we gain insights for diversification policy through economic upgrading analysis and resilience policy via a multi-level perspective. Drawing on the case of Kazakhstan before and after the shocks of the Russia-Ukraine war and the COVID-19 pandemic, we analyze two contrasting sectors engaged in GVCs: uranium, an advantaged resource sector where the sovereign wealth fund (SWF) owns the key producer, and medicines, a disadvantaged non-resource sector where a state-owned firm is the key buyer. Our upgrading analysis of pre-shock policies in the uranium case shows that a SWF-facilitated transformation improves diversification, while in the medicine case, policy interventions through the state-owned firm yield diversification limited to state priorities. Our resilience analysis of post-shock policies reveals that in both cases, state interventions created unintended consequences for the resilience of firms and GVC, hindering GVC rebalancing and prompting strategic firm responses to mitigate adverse impacts. Our study suggests that state policies for resilience could better internalize these unintended consequences. |
| Keywords: | Global value chains, Industrial policy, Emerging markets/countries/economies, Economic diversification, Industrial upgrading, Resilience, Sovereign wealth funds, Privatization, Public procurement, Case-theoretic approaches |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:asx:nugsbw:2025-05 |
| By: | Köse, Şeyda (Supply Chain Intelligence Institute Austria (ASCII)); Diem, Christian (Institute for New Economic Thinking at the Oxford Martin School); Dervic, Elma (Supply Chain Intelligence Institute Austria (ASCII)); Friesenbichler, Klaus (Supply Chain Intelligence Institute Austria (ASCII)); Heiler, Georg (Supply Chain Intelligence Institute Austria (ASCII)); Hurt, Jan (Supply Chain Intelligence Institute Austria (ASCII)); Picatto, Hernan (Supply Chain Intelligence Institute Austria (ASCII)); Klimek, Peter (Supply Chain Intelligence Institute Austria (ASCII)) |
| Abstract: | The semiconductor industry is foundational to modern technology, yet its complex global multi-relational firm network remains poorly understood, posing challenges to scientists, firms and policymakers. Traditional analysis relies on proprietary databases that are often expensive, incomplete, and slowly updated, limiting their ability to capture rapidly evolving dependencies. Here, we demonstrate that a novel, generalizable methodology combining Large Language Models (LLMs) with open web data can reconstruct this network and its structural dynamics at scale. We identify and classify supply-chain, partnership, and ownership links from 170 million semiconductor firm webpages, yielding a temporal network of over 1, 300 linked firms. We validate link-extraction quality (Precision: 0.884; F1-score: 0.784), network overlap and complementarity with a proprietary database, and consistency with aggregate economic data. Our network reveals a temporary 9% decline in edges during the 2022 chip shortage, rapid increases in the centrality of AI supply-chain bottleneck firms such as NVIDIA, and geographic realignment of interfirm relations amid geopolitical turbulence. This generalizable framework overcomes barriers to transparency and provides essential, up-to-date maps for assessing resilience and informing policy across strategically relevant sectors. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:amz:wpaper:2026-14 |
| By: | Marion Richard; Oliver Vanden Eynde |
| Abstract: | The effectiveness of security operations often depends on cooperation between national armies. Such cooperation can be particularly important when international borders are porous and armed groups can operate across borders. We investigate how the creation of an international armed force that could operate across international borders (the G5-Sahel Joint Force) together with improved communication between national armies affected conflict dynamics in the Sahel region. Relying on a regression discontinuity design, we find that the G5 mission lowered the intensity of conflict locally in its zone of operation, especially along border segments more porous due to their geographical features or ethnic composition. Further analysis of geographical conflict propagation patterns indicates that the G5-Sahel force facilitated security operations in border areas. |
| Keywords: | Counterinsugency, Civil conflict, Borders, Cooperation |
| JEL: | D72 D74 L23 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:unl:novafr:wp2507 |
| By: | Pedro Bordalo; Nicola Gennaioli; Florencio Lopez-de-Silanes; Simon G. Schröder; Andrei Shleifer; Maarten van Rooij |
| Abstract: | We present a model of “animal spirits” in which context and emotions affect macroeconomic beliefs by shaping which experiences people recall to simulate similar future aggregate states. We test this mechanism by priming Dutch National Bank Survey respondents to recall personal financial or health adversities before eliciting inflation and home price expectations. The treatment causes instability in beliefs and reasoning tied to the measured similarity of the primed experiences to different macro states. This similarity structure also accounts for heterogeneity in beliefs and reasoning based on a range of other personal experiences we measure. The model micro founds several features of macroeconomic beliefs, including narratives, and yields a “confidence multiplier”: spending by some agents cues optimistic context for others, raising their spending. |
| JEL: | D84 E03 E31 E71 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35214 |
| By: | Madjid Eshaghi Gordji; Ali Jabbari; Mohammad Ali Berahman; Esmaiel Abounoori |
| Abstract: | Westudy how a planner can design dynamic interventions to overcome status-quo inertia in living temporal games, where strategic agents control their state (active, sleep, partially dead) on a temporal network. Building on the continuous-time stochastic game framework of our companion paper, we introduce three intervention classes: bounded transfers (price based), structural modifications (edge deletion, addition, or replacement), and information signals. We formalize the notion of inertia depth and prove a threshold theorem: the status quo equilibrium survives all transfer perturbations whose magnitude is below a critical bound that depends on the remaining horizon. A central structural dominance result shows that for any finite transfer budget there exists a family of games where no bounded price intervention can eliminate the inefficient equilibrium, yet a single edge replacement (continuous-flow to discrete-transport) succeeds. We then study private-information subclasses with static types. Using a uniformization reduction, we prove an impossibility result: no direct mechanism can simultaneously satisfy ex post incentive compatibility, ex post budget balance, and history privacy while always implementing an efficient equilibrium. In the same subclass we construct a dynamic pivot mechanism that achieves second-best efficiency with bounded deficit. Finally, we show that replacing continuous-flow edges by discrete-transport edges weakly expands the set of implementable outcomes, highlighting the importance of temporal semantics for mechanism design. Our results extend the static analysis of [5] to continuous time strategic networks and provide a rigorous foundation for subsequent papers on learning and mean-field design. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2605.19087 |
| By: | Jay A. Soled (Rutgers Business School); James Alm (Tulane University) |
| Abstract: | “Cash is king” is a long-standing mantra among many businesspeople. It has a less favorable aura in the tax compliance world, where cash is often used to circumvent one’s tax reporting obligations. This analysis explores the current role of cash in today’s economy and suggests reasons why Congress should curtail its use or, at the very least, promote other forms of payment. |
| Keywords: | Tax compliance; tax gap; credit cards; cash; cryptocurrencies; third-party information; nudges |
| JEL: | H2 H26 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:tul:wpaper:2607 |
| By: | Razzak, Weshah |
| Abstract: | We examine Reserve Bank of New Zealand (RBNZ) Monetary Policy Statements (MPS) from March 1990 to June 2025—real time data spanning four governors—to evaluate the performance of inflation targeting. Across the entire period, governors consistently acknowledged the long and variable lags of monetary policy and were therefore presented with one and two years ahead inflation forecasts. Each governor applied substantial judgment to these projections when setting the Official Cash Rate (OCR). Inflation was systematically underpredicted, and breaches of the upper bound of the target range occurred without being anticipated. Falling behind the curve meant policy was often reactive rather than forward looking. Forecast errors caused persistent policy errors. The data show that the real OCR, various proxies for real short- and long-term interest rates, and real spreads are uncorrelated with multiple measures of the output gap and with inflation itself, which begs the question of how monetary policy affects inflation. By contrast, certain measures of inflation expectations that incorporate government spending into the information set explain roughly 40 percent of New Zealand inflation. Therefore, institutional credibility explains the RBNZ’s record of maintaining inflation within the 1–3 percent target range, on average, over the past 35 years. |
| Keywords: | Monetary Polic, Fiscal Policy, Inflation Targeting, RBNZ, Inflation Forecast, Output Gap and Inflation Expectations |
| JEL: | C1 E0 E00 E3 E30 E4 E40 E5 E50 |
| Date: | 2026–04–27 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:128887 |
| By: | Marina Agranov; Gabriel Lopez-Moctezuma; Philipp Strack; Omer Tamuz |
| Abstract: | We compare how well agents aggregate information in two repeated social learning environments. In the first setting agents have access to a public data set. In the second they have access to the same data, and also to the past actions of others. Despite the fact that actions contain no additional payoff-relevant information, and despite potential herd behavior, free riding and information overload issues, observing and imitating the actions of others leads agents to take the optimal action more often in the second setting. We also investigate the effect of group size, as well as a setting in which agents observe private data and others' actions. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2605.17662 |
| By: | Patrick Guillaumont (FERDI - Fondation pour les Etudes et Recherches sur le Développement International) |
| Abstract: | 1. The allocation of concessional resources, presently reduced, is a crucial issue. How to protect flows to the poorest and most vulnerable countries. 2. Allocation criteria among countries are even more important than the eligibiliy thresholds. 3. Final allocation depends on the balance between bilateral and multilateral. 4. It also depends on the treatment of vertical funds, excessively fragmented 5. Different allocation criteria are required according to goals: development, climate, GPGs. 6. Allocation also depends on how concessional resources are mobilized 7. Balance between needs and effectiveness allocation criteria depends on the goals. 8. Structural vulnerability is a criterion to be considered if consistent with the goals. 9. For MDBs, it is relevant and possible to incorporate vulnerability into the PBA. 10. To be accountable the current system is to be assessed with regard to allocation criteria. |
| Keywords: | Resources allocation, Global public goods, poor and vulnerable countries |
| Date: | 2026–04–28 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05614270 |
| By: | Ugo Panizza (Geneva Graduate Institute and CEPR) |
| Abstract: | A well-designed European sovereign debt architecture should avoid debt mutualization, create a large safe asset, and reduce the risk of self-fulfilling crises. This note derives a European debt trilemma, showing that no feasible architecture can simultaneously achieve all three objectives. The note then develops a simple model to evaluate the Blanchard and Ubide (2025) proposal. The model establishes a safety condition justifying the 25 percent replacement threshold, average cost neutrality as a consequence of Modigliani–Miller, and, most importantly, strengthened fiscal discipline at the margin, since the rate on national bonds is strictly more sensitive to domestic fiscal conditions than the rate it replaces. |
| Keywords: | Eurobonds; European Safe Asset; Fiscal Discipline; Debt Seniority |
| JEL: | F34 F36 H63 E44 |
| Date: | 2026–05–18 |
| URL: | https://d.repec.org/n?u=RePEc:gii:giihei:heidwp15-2026 |
| By: | Christian Sofilkanitsch (Nazarbayev University, Graduate School of Business) |
| Abstract: | I investigate whether investors change their responsiveness to non-GAAP earnings following the revelation of past GAAP reporting failures. Using an event-study design, I find that the earnings response coefficient (ERC) for non-GAAP earnings declines by 40.4 percent after the announcement of material GAAP restatements, suggesting that investors view non-GAAP earnings as less informative once the reliability of the underlying GAAP framework is called into question. The decline in non-GAAP ERCs is not explained by changes in delayed investor reactions or non-GAAP-related SEC comment letters. Taken together, the results are consistent with a credibility spillover across mandatory and voluntary reporting frameworks, whereby investors use GAAP signals to infer the credibility of non-GAAP earnings. My findings underscore the interconnectedness of GAAP and non-GAAP reporting and contribute to ongoing debates about the credibility of non-GAAP measures. |
| Keywords: | non-GAAP reporting, GAAP restatements, disclosure credibility |
| JEL: | G14 D82 M41 |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:asx:nugsbw:2026-06 |
| By: | Folke, Olle (Stockholm School of Economics); Rickne, Johanna (Swedish Institute for Social Research) |
| Abstract: | First-generation immigrants face a seniority ceiling that limits their political incorporation as candidates and officeholders. Career ladders that require qualification time in lower positions create structural barriers for this group. We use linked data from Swedish electoral ballots and administrative records to examine this idea. A novel identification strategy isolates the effect of seniority-based promotion structures from immigrant-specific disadvantages by comparing immigrants’ incorporation patterns to those of internal movers—native-born Swedes who relocate between municipalities. The seniority ceiling explains about half of the immigrant-native gap in holding political positions and almost the entire gradient of worsening incorporation at higher levels. We find strong selection effects at both the individual and group level. The seniority ceiling restricts incorporation at higher career steps for those with fewer opportunities to accumulate qualification time: those who arrived more recently or at older ages. |
| Keywords: | immigration, political representation, political candidacy, political careers |
| JEL: | D02 H10 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18638 |
| By: | Sebastian Bell; Ali Kakhbod; Martin Lettau; Abdolreza Nazemi |
| Abstract: | We propose AlphaGlass, an inherently interpretable machine-learning framework for constructing portfolios that directly optimize investment objectives. AlphaGlass maps stock characteristics into additive signals with sparse interactions and converts these signals into long-short portfolios through a differentiable rank-and-mask layer. This end-to-end design allows the model to optimize objectives such as the Sharpe ratio or mean-variance utility while keeping portfolio weights interpretable and traceable to specific characteristics and interactions. We show theoretically that in-sample objective maximization consistently estimates the population objective and that the differentiable rank-and-mask layer is a faithful smooth proxy for the corresponding conventional long-short quantile portfolio. In U.S. equities, AlphaGlass delivers strong out-of-sample performance and reveals economically interpretable drivers of long and short positions. |
| JEL: | C14 C45 G10 G11 G12 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35186 |
| By: | Andreas Kleiner; Benny Moldovanu; Philipp Strack |
| Abstract: | A key insight is that many, seemingly different, economic problems share a com mon mathematical structure: they all involve the maximization of a functional over sets of monotonic functions that are either majorized by, or majorize, a given func tion. We first present new, simpler proofs for the main characterization results of the extreme points of sets defined by monotonicity and majorization constraints obtained by Kleiner, Moldovanu, and Strack (2021). We then demonstrate how the charac terization results can be fruitfully applied to a broad range of economic applications, from auction and information design to decision problems under risk such as optimal stopping. Finally, we conclude with an overview of recent, related work that extends these characterizations to settings with additional constraints, multidimensional state spaces, and alternative stochastic orders. |
| Keywords: | majorization, extreme points, economic design problems, survey |
| JEL: | C02 D82 D83 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2025_749 |
| By: | Tomasz Kopczewski (University of Warsaw, Faculty of Economic Sciences); Justyna Laskowska-Lisicka (Adam Mickiewicz Institute); Jan Lisicki (University of Warsaw, Faculty of Economic Sciences); Kostiantyn Okhrimenko (University of Warsaw, Faculty of Economic Sciences); Tomasz Potocki (University of Rzeszów) |
| Abstract: | This article presents an ongoing pedagogical project at the intersection of economics and art education. It starts from a double blind wall: economics rarely uses the art market as a eaching laboratory, while art education often protects aesthetic judgement from market reductionism. We propose a transferable protocol combining diagnostic questions, valuation tasks, anchoring and signalling treatments, public-art perception probes, and dashboard feedback. Its first implementation uses Wojciech Fangor in Warsaw. The aim is not representative measurement, but a replicable design through which students observe how attention, information, narrative, and market signals shape the encounter with art. |
| Keywords: | art valuation, economics education, art education, anchoring, signalling, asymmetric information, pedagogical narrative laboratory, Know Thyself, Wojciech Fangor, replication |
| JEL: | A22 A29 C93 D83 D91 I23 Z11 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:war:wpaper:2026-16 |
| By: | WANG, JIAXI |
| Abstract: | The most elaborate, intellectually, of the article’s arguments about urban heat response is the claim that local adaptation depends on whether residents can connect cooling centers, shaded places, and isolated facilities into workable daily routes. Using Gelsenkirchen as a case, the study identifies informal cooling refuges from publicly visible user-generated content and translates these traces into an auditable cooling index. Lightweight proxy checks are then used to ask whether the index remains directionally consistent with known cooling conditions such as canopy, vegetation, and water proximity. It is not a question of formal planning or local evidence, but of making the latter supplement the former. Doing so demands an austere discipline of auditability, detachment from anecdote, and some care about what counts as refuge. One has to understand, for one thing, that heat adaptation cannot be reduced to location alone. One needs access, usability, and everyday climate justice. |
| Date: | 2026–05–12 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:eg3hk_v1 |
| By: | Otaviano Canuto; Jorge Arbache |
| Abstract: | Decarbonization is reconfiguring global relative prices. As clean energy, natural capital, and location-specific assets become dominant industrial inputs, the relative cost of producing low-carbon goods is increasingly determined by geography. Two systematic distortions explain why the expected reallocation of investment toward renewable-rich economies remains incomplete. First, industrial policy interventions, including subsidies, trade barriers, and certification systems, disconnect effective prices from underlying structural costs. Second, institutional failures create demand uncertainty that leaves structurally competitive projects unbankable. Together, these distortions generate static misallocation, leading to slower technological learning, higher fiscal burdens, delayed emissions reductions, and suppressed industrial opportunities in developing economies. This paper is part of broader research on powershoring and green comparative advantage, which focuses on the idea that decarbonization is a spatial and price reorganization of global production, in addition to a technological transition. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpcoen:pp_13-26 |
| By: | Horrell, Sara; Humphries, Jane |
| Abstract: | Housework is central to feminist calls for recognition of women's work, economic histories explaining the sexual division of labour, and claims regarding the progressive role of scientific knowledge. Yet little is known about the time it actually took. We address this lacuna. We utilize British sources and find a substantial increase in the hours ordinary women spent on domestic labour between the late‐eighteenth and the mid‐twentieth centuries. We note the changing imperatives of state involvement and industrial development and explore how the additional domestic labour served the interests of state and employers as well as those of husbands and children. |
| JEL: | N0 |
| Date: | 2026–05–15 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137939 |
| By: | Maxim Sharakin Fedorov (Saw Swee Hock School of Public Health, National University of Singapore); Akhil Bansal (Center for Global Development; London North West University Healthcare NHS Trust); Georgia Bradley (Dartmouth College); Daniel Chong (Saw Swee Hock School of Public Health, National University of Singapore); Yasir Bin Nisar (Department of Sexual, Reproductive, Maternal, Child and Adolescent Health and Ageing, World Health Organization); Edwine Barasa (Health Economics Research Unit, KEMRI-Wellcome Trust Research Programme; Centre for Tropical Medicine and Global Health, Nuffield Department of Medicine, University of Oxford); Yah Ru Juang (Saw Swee Hock School of Public Health, National University of Singapore); Teerawat Wiwatpanit (Health Intervention and Technology Assessment Program, Ministry of Public Health, Thailand); Siriyada Kitbamrung (Health Intervention and Technology Assessment Program, Ministry of Public Health, Thailand); Nga Man Juliana Lui (Department of Medicine & Therapeutics, Faculty of Medicine, The Chinese University of Hong Kong); Xue Li (Department of Medicine, School of Clinical Medicine, LKS Faculty of Medicine, The University of Hong Kong; Centre for Safe Medication Practice and Research, Department of Pharmacology and Pharmacy, LKS Faculty of Medicine, The University of Hong Kong; Department of Medicine, HKU-Shenzhen Hospital); Yi Wang (Saw Swee Hock School of Public Health, National University of Singapore) |
| Abstract: | Neonatal sepsis is a leading cause of mortality in low- and middle-income countries (LMICs). The current diagnostic standard, blood culture, has long turnaround times and high infrastructure requirements, limiting its utility. Consequently, clinicians rely on non-specific clinical signs for initial management. To address this unmet need, the WHO published a 2025 Target Product Profile (TPP) for rapid point-of-care tests (POCTs). We developed a global expert-validated model to estimate the cost-effectiveness of a TPP-compliant POCT in LMICs. A decision tree compared a TPP-compliant POCT integrated into standard of care (SOC) against SOC alone from a healthcare system perspective over a lifetime horizon. The model evaluated infants (0–59 days) with possible serious bacterial infection across facility-of-birth and community-presenting cohorts. Outcomes included incremental cost per disability-adjusted life-year (DALY) averted. Probabilistic and threshold sensitivity analyses assessed parameter uncertainty. At a US$ 5·00 unit price, the POCT reduced costs by US$ 37 342 and averted 206 DALYs per 1 000 facility-of-birth patients compared to SOC. In community-presenting patients, it reduced costs by US$ 5 715 and averted 127 DALYs per 1 000. The POCT was dominant in 93·2% (facility) and 84·8% (community) of probabilistic iterations. Results remained robust across wide-ranging epidemiological and cost inputs. These findings provide an evidence base supporting prioritised investment in developing a TPP-compliant POCT to improve neonatal sepsis management in LMICs. |
| Date: | 2026–04–28 |
| URL: | https://d.repec.org/n?u=RePEc:cgd:wpaper:744 |
| By: | Igor Sloev; Gerasimos Lianos |
| Abstract: | Multiplicative Kantian equilibrium explains cooperative behavior in social dilemmas without abandoning methodological individualism. However, its outcomes depend critically on the parametrization of the strategy space - the property of strategic non-equivalence. We investigate what fraction of the Pareto frontier can be attained by varying the strategy space. We show that the set of achievable Kantian equilibria is the entire Pareto frontier: for any interior Pareto-efficient point there exists a shift of coordinates - imposing lower bounds on actions - that makes it a Multiplicative Kantian equilibrium. The proof is constructive and relies on a intuitive geometric property: moving the origin to a point on the common tangent to players' indifference curves. This result separates the problem of efficiency from the problem of fairness, allowing any normative criterion to be implemented without loss of Pareto optimality. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2605.19548 |
| By: | Ciccarelli , Carlo (University of Rome Tor Vergata); Marciante, Gianni (University of Bologna) |
| Abstract: | The role of womens education in driving the historical fertility transition remains poorly understood. Existing studies have focused on France, an early outlier, or on Prussia before the onset of its demographic transition. Less is known about the context where this effect is expected to be strongest: the onset of the transition in late transitioning countries. This paper fills this gap by studying the impact of womens education on fertility in Italy (1881 to 1921). Using original district level panel data, we exploit the interaction between proximity to the first female teacher training colleges opened under the Casati Law of 1859 and time fixed effects as an instrumental variable. IV estimates confirm a negative effect of education on fertility, operating through health knowledge and the economic independence that female teachers embodied. |
| Keywords: | JEL Classification: |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:cge:wacage:804 |