nep-isf New Economics Papers
on Islamic Finance
Issue of 2020‒11‒16
four papers chosen by
Mohamed Mohamed Tolba Said
International Islamic University Malaysia

  2. Stay-at-Home Works to Fight Against COVID-19: International Evidence from Google Mobility Data By Hakan Yilmazkuday
  3. A case-study oriented analysis of the demand-side policies to reduce cyclical unemployment in the 2008 financial crisis and their potential effectiveness in a post-COVID US economy By Kakade, Ameya; Roongta, Dhruv; Haribalaraman, Shravan
  4. Typologies of "Just Transitions": Towards Social-Ecological Transformation By Kreinin, Halliki

  1. By: Putri, Desi Nirmala; fernos, jhon; Tanjung, Mariani St.B
    Abstract: This study aims to discuss how the margin calculation for refinancing at PT. Bank Muamalat, Padang branch. This analysis uses descriptive quantitative data expressed in the form of numerical results in an example of one sample, as well as descriptions from interviews with back to back financing margin calculations. This research sample was taken from one of the customers of PT. Bank Muamalat, Padang branch. The results of this study indicate the calculation of the refinancing margin at PT. Bank Muamalat Padang branch uses the annuity method to make a profit. The margin income earned from the customer is different every month and gets smaller, but the amount of payment from the installment principal plus the margin that the customer receives each month remains the same by increasing the principal amount every month
    Date: 2020–08–09
  2. By: Hakan Yilmazkuday (Department of Economics, Florida International University)
    Abstract: Daily Google mobility data covering 130 countries over the period between February 15th, 2020 and May 2nd, 2020 suggest that less mobility is associated with lower COVID-19 cases and deaths. This observation is formally tested by using a difference-in-difference design, where country-fixed effects, day-fixed effects as well as the country-specific timing of the 100th COVID-19 case are controlled for. The results suggest that 1% of a weekly increase in being at residential places leads into about 70 less weekly COVID-19 cases and about 7 less weekly COVID-19 deaths, whereas 1% of a weekly decrease in visits to transit stations leads into about 33 less weekly COVID-19 cases and about 4 less weekly COVID-19 deaths, on average across countries. Similarly, 1% of a weekly reduction in visits to retail & recreation results in about 25 less weekly COVID-19 cases and about 3 less weekly COVID-19 deaths, or 1% of a weekly reduction in visits to workplaces results in about 18 less weekly COVID-19 cases and about 2 less weekly COVID-19 deaths.
    Keywords: Coronavirus, Stay-at-Home, Google Mobility
    JEL: I10 I18
    Date: 2020–11
  3. By: Kakade, Ameya; Roongta, Dhruv; Haribalaraman, Shravan
    Abstract: The Great Lockdown, a severe pandemic-induced economic recession, has resulted in record-high levels of unemployment, last seen in the 2008 financial crisis. In response to this concern, this paper aims to formulate ideal policies to combat cyclical unemployment in a US economy following the onset of the coronavirus. As several policies have already been implemented, the paper also comments on their potential effectiveness. The Keynesian model is used as a reference, and thus demand-side policies are the central focus. This paper examines the employment-oriented fiscal and monetary policies implemented by the US, UK, Germany, Spain, and Japan during the 2008 financial crisis. It then determines their potential success in the United States, chosen due to its significant impact on the world economy.
    Keywords: Case Studies, Cyclical Unemployment, Demand-side Policies, The 2008 Financial Crisis, The Great Lockdown, The United States of America
    JEL: A1 E0 H0
    Date: 2020–08–31
  4. By: Kreinin, Halliki
    Abstract: The "Just Transition" (JT) approach emerged as an answer to balancing human welfare, jobs and the need for deep decarbonisation. The concept was developed by trade unions in the industrialised world as a unifying rallying cry around the demand that ecological transformation be undertaken in a socially just way. Starting out in the US in the 1970s, it has increasingly been adopted and adapted by different groups, including unions and workers themselves, environmentalists, academics, governments, international institutions and nongovernmental organisations. While the flexibility of the concept and the easy translatability of “fairness” have arguably been its strength and the reason for its popularity, JT has also been criticised for its vagueness, inoperability in practice, and in particular for being used to fight for various, and sometimes antithetical, conceptualisations of justice. Without negating the political challenges of JTs, this paper will look at divergent types of current formulations of JT, within a modified framework of Hampton’s (2015) trade union climate approaches, which includes 1) "neoliberal political economy/market" (NPE), 2) "ecological modernisation/state" (EM), and 3) "social-ecological transformation" (SET) climate approaches. Different JT approaches are aligned along "Market Policies" and "Just Transition" axes (Figure 1) of which NPE and SET form two extreme approaches. This paper will elaborate on why a radical SET formulation of JT, which moves past only class-based climate approaches (Hampton’s (2015) Marxist Political Economy) to include broader critiques based on environmental justice, degrowth and ecofeminism, is needed to adequately challenge current multiple crises related to the environment and society.
    Keywords: Just Transition, social-ecological transformation, environmental labour studies
    Date: 2020–01

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