|
on Islamic Finance |
| By: | Sarah Y Tong; Yao Li; Tuan Yuen Kong (East Asian Institute, National University of Singapore, Singapore) |
| Abstract: | This paper explores modules and articles on cooperation concerning the digital economy that are applicable for Association of Southeast Asian Nations (ASEAN) countries under certain circumstances. It investigates the progress of and obstacles to ASEAN’s digital connectivity, as well as features of existing Digital Economic Agreements and digital economy-related articles in other agreements. We propose the use of a differentiated strategy and steps to promote integration for ASEAN countries covered in this research. This research was conducted as a part of the project ‘ERIA Research on COVID-19’ at the Economic Research Institute for ASEAN and East Asia (ERIA). |
| Keywords: | Digital Economic Agreement; Digital Connectivity; ASEAN |
| JEL: | F15 F23 |
| Date: | 2021–07–26 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2021-24&r= |
| By: | Jennifer Chan (Borneo Tourism Research Centre, Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah) |
| Abstract: | This research aims to explore the potential of domestic tourism as a means to revitalise the tourism industry from the perspectives of local residents and tourism players. A quantitative online survey focused on domestic travel behaviour, motivation, places of interest, travel preferences, and willingness to travel within Malaysia; it was answered by 219 Malaysians. Interview data were collected using structured, open-ended interview questions through emails to eight respondents from tourism associations, five from the hotel sector, and two from the travel and tour sector. Data collection was carried out from 10 January to 15 February 2021. The findings reveal that domestic tourism has the potential to revive the tourism industry. A high percentage of respondents indicated the desire to travel domestically and being motivated by attractive tour packages at discounted prices. COVID-19 has impacted tourist behaviour and attitudes towards travelling, and people prefer to travel domestically rather than overseas. Furthermore, tourism players acknowledged the potential to revive the tourism industry and business via domestic tourism. Despite this, declarations of health, safety issues, flight availability, travel restrictions, and quarantine durations are key barriers to stimulating domestic tourism and rebuilding the tourism industry. This research was conducted as a part of the project ‘ERIA Research on COVID-19’ at the Economic Research Institute for ASEAN and East Asia (ERIA). |
| Keywords: | Domestic tourism; COVID-19 pandemic; Revitalise tourism industry |
| JEL: | L89 |
| Date: | 2021–07–27 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2021-25&r= |
| By: | Daniela Del Boca (University of Turin and Collegio Carlo Alberto); Noemi Oggero; Paola Profeta; Maria Cristina Rossi |
| Abstract: | The COVID-19 pandemic has had a dramatic impact on families’ lives, with parents all over the world struggling to meet the increased demands of housework, childcare and home-schooling. Much of the additional burden has been shouldered by women, particularly in countries with a traditionally uneven division of household labor. Yet the dramatic increase in remote work from home since the pandemic also has the potential to increase paternal involvement in family life and thus to redress persistent domestic gender role inequalities. This effect depends on the working arrangements of each partner, whether working remotely, working at their usual workplace or ceasing work altogether. We examine the role of working arrangements during the pandemic on the traditional division of household labor in Italy using survey data from interviews with a representative sample of working women conducted during the two waves of COVID-19 (April and November 2020). Our data show that the gender gap in household care related activities was widest during the first wave of the pandemic, and although it was less pronounced during the second wave, it was still higher than pre-COVID-19. The time spent by women on housework, childcare, and assisting their children with distance learning did not depend on their partners’ working arrangements. Conversely, men spent fewer hours helping with the housework and distance learning when their partners were at home. It is interesting, however, that although men who worked remotely or not at all did devote more time to domestic chores and child care, the increased time they spent at home did not seem to lead to a reallocation of couples’ roles in housework and child care. Finally, we find that working arrangements are linked to women’s feelings of uncertainty, with heterogeneous effects by level of education. |
| Keywords: | COVID-19, work arrangements, housework, childcare, distance learning |
| JEL: | J13 J16 J21 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:hka:wpaper:2021-043&r= |
| By: | M. Hashem Pesaran (University of Southern California, USA; Trinity College, Cambridge, UK); Yimeng Xie (Xiamen University, China) |
| Abstract: | In a recent paper Juodis and Reese (2021) (JR) show that the application of the CD test proposed by Pesaran (2004) to residuals from panels with latent factors results in over-rejection and propose a randomized test statistic to correct for over-rejection, and add a screening component to achieve power. This paper considers the same problem but from a different perspective and shows that the standard CD test remains valid if the latent factors are weak, and proposes a simple bias-corrected CD test, labelled CD*, which is shown to be asymptotically normal, irrespective of whether the latent factors are weak or strong. This result is shown to hold for pure latent factor models as well as for panel regressions with latent factors. Small sample properties of the CD* test are investigated by Monte Carlo experiments and are shown to have the correct size and satisfactory power for both Gaussian and non-Gaussian errors. In contrast, it is found that JR's test tends to over-reject in the case of panels with non-Gaussian errors, and have low power against spatial network alternatives. The use of the CD* test is illustrated with two empirical applications from the literature. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.00408&r= |
| By: | Lili Yan Ing (Economic Research Institute for ASEAN and East Asia (ERIA)); Junianto James Losari (UMBRA - Strategic Legal Solutions) |
| Abstract: | The European Union (EU) and China have recently reached an agreement: the EU–China Comprehensive Agreement on Investment (CAI). As one of the most recent investment agreements concluded by the EU, the paper aims to assess specific concessions made in the agreement, and provides lessons learnt for Indonesia on the ongoing negotiations of the Indonesia–EU free trade agreement, the Comprehensive Economic Partnership Agreement (IEU CEPA). The paper will present an overview of the main areas covered under the CAI, assess the potential impacts of the CAI on EU investment into Indonesia, and set out lessons that can be learnt from the CAI. |
| Keywords: | Investment agreement, FTA, China, European Union, Indonesia |
| JEL: | F F15 F21 F23 |
| Date: | 2021–08–12 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2021-29&r= |
| By: | Philippe Bich (Centre d'Economie de la Sorbonne, Paris School of Economics); Julien Fixary (Centre d'Economie de la Sorbonne, Université Paris 1 Panthéon-Sorbonne) |
| Abstract: | We determine the topological structure of the graph of pairwise stable weighted networks. As an application, we obtain that for large classes of polynomial payoff functions, there exists generically and odd number of pairwise stable networks. This improves the results in Bich and Morhaim ([5] or in Herings and Zhan ([14]), and can be applied to many existing models, as for example to the public good provision model of Bramoullé and Kranton ([8]), the information transmission model of Calvó-Armengol ([9]), the two-way flow model of Bala and Goyal ([2]), or Zenou-Ballester's key-player model ([3]) |
| Keywords: | Weighted Networks; Pairwise Stable Networks Correspondence; Generic Oddness |
| JEL: | C72 D85 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:21016&r= |
| By: | Liu, Weijun; Florkowski, Wojciech J. |
| Keywords: | Food Consumption/Nutrition/Food Safety, Agribusiness, Marketing |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312748&r= |
| By: | Zhong, Jia; Khanna, Madhu |
| Keywords: | Institutional and Behavioral Economics, Resource/Energy Economics and Policy, Environmental Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312797&r= |
| By: | Zilberman, David; Bansal, Sangeeta |
| Keywords: | Food Consumption/Nutrition/Food Safety, Health Economics and Policy, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312873&r= |
| By: | Harun Tanrivermis; Ilhan Yildirim; Erol Demír |
| Abstract: | Financial leasing, which is widely used in medium-term financing of investments in many countries, provides great advantages in meeting the increasing demands of the working capital of organizations. Financial leasing, which is a unique transaction that consists of the combination of three different transactions such as medium-term investment loan, lease, instalment sales, and which have a different quality, is a financing method that is very close to medium-term loan adopted in Turkey. Financial leasing, whose legal infrastructure was first established and backed by the Financial Leasing Law No. 3226 of 1985, was put into its application within the scope of the financial leasing, factoring, and financing companies under Law No. 6361 in 2012. To meet the housing demands, within the scope of Law No. 5582 on the Housing Finance System, consumers are provided with the opportunity to provide long-term funds through financial leasing. In addition, apart from being a means of financing in real estate projects by participation banks and financial leasing companies, it is also used as a sales method in housing finance as a real estate acquisition method. The real estate sector in Turkey greatly contributes to the economy as a hub of employment and stimulates the growth of several sectors, so the consideration of financing of real estate is essential. In the period of 2010-2020 in Turkey, the share of financial leasing transactions in total building investments were decreased by 1% at the end of 2020. The share of financial leasing transaction volume in total fixed investments was around 2% at the end of 2020. In the period examined, the share of construction, real estate brokerage, leasing and operating activities and consumer housing finance in the gross transaction volume of financial leasing was around 20-30% in the period before 2018 but fell below 20% in 2019 and 2020. In the field of financial leasing, especially the sell and lease method, it attracts attention as an Islamic financing model in the financing of commercial real estate investments and housing acquisition. In this study, analysis of the applications of the financial leasing in the real estate sector in Turkey was analysed in aspects of legal, economic, and technical, and the identification of problems, the solution was put forward. Through various data published by financial leasing companies and participation banks and application examples, the conditions of success in the real estate sector were examined by taking into account the development process according to the periods, although it provides various advantages, the main reasons for the lack of widespread and weak development of financial leasing transactions in Turkey were determined. Literature review and regulatory analysis were conducted in the study and the current implementation of the financial leasing method in the real estate sector and its impact on the development of the real estate sector were examined. Based upon the results of the interviews and surveys conducted with the managers and experts of financial leasing companies and the beneficiaries of this vehicle, economic analysis of the use of financial leasing in real estate development and real estate investments, basic application problems and opportunities for the development of financing of financial leasing and real estate investments were evaluated. It is noteworthy that financial leasing companies and participation banks have an important role in the current practice and the employment of real estate development and real estate investments and financing experts in both enterprises is mandatory to increase the success of the implementation of the model. |
| Keywords: | commercial real estate; Financial leasing; residential investment; sell and leaseback |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2021_172&r= |
| By: | Dripto Bakshi; Indraneel Dasgupta |
| Abstract: | We examine how cross-community cost or benefit spillovers, arising from the consumption of group-specific public goods, affect both inter-group conflicts over the appropriation of such goods and decentralized private provision for their production. Our model integrates production versus appropriation choices, vis-Ã -vis group-specific public goods, with their decentralized voluntary supply, against a backdrop of such cross-community consumption spillovers. Our flexible and general formulation of consumption spillovers incorporates earlier specifications as alternative special cases. We show that stronger negative (or weaker positive) consumption spillovers across communities may reduce inter-group conflict and increase aggregate income (and consumption) in society under certain conditions. Thus, stronger negative consumption spillovers may have socially beneficial consequences. We also identify conditions under which their impact will be both conflict-augmenting and income-compressing. Our general theoretical analysis offers a conceptual structure within which to organize investigation of feedback loops linking ethnic conflict and natural resource degradation in developing country contexts. |
| Keywords: | Production versus appropriation, Rent-seeking; Public good contest; Public bad; Natural resource conflict |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:not:notcre:21/05&r= |
| By: | Hamilton, Stephen F.; Lowrey, John; Richards, Timothy J. |
| Keywords: | Marketing, Agribusiness, Food Consumption/Nutrition/Food Safety |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312679&r= |
| By: | Zapata, Samuel D.; García, José María |
| Keywords: | Risk and Uncertainty, Agricultural and Food Policy, Agribusiness |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312672&r= |
| By: | Yim, Hyejin; Katare, Bhagyashree |
| Keywords: | Food Consumption/Nutrition/Food Safety, Health Economics and Policy, Consumer/Household Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312808&r= |
| By: | Marc Fleurbaey (Paris School of Economics); Stéphane Zuber (Centre d'Economie de la Sorbonne, Paris School of Economics) |
| Abstract: | How to evaluate and compare social prospects when there may be a risk on i) the actual allocation people will receive; ii) the existence of these future people; and iii) their preferences? This paper investigate this question that may arise when considering policies that endogenously affect future people, for instance climate policy. We show that there is no social ordering that meets minimal requirements of fairness, social rationality, and respect for people's ex ante preferences. We explore three ways to avoid this impossibility. First, if we drop the ex ante Pareto requirement, we can obtain fair ex post criteria that take an (arbitrary) expected utility of an equally-distributed equivalent level of well-being. Second, if the social ordering is not an expected utility, we can obtain fair ex ante criteria that assess uncertain individual prospects with a certainty-equivalent measure of well-being. Third, if we accept that interpersonal comparisons rely on VNM utility functions even in absence of risk, we can construct expected utility social orderings that satisfy of some version of Pareto ex ante |
| Keywords: | Fairness; social risk; intergenerational equity |
| JEL: | D63 D81 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:21018&r= |
| By: | Sandoval M, Luis A.; Zapata, Samuel D.; Lemus, Juan Gerardo |
| Keywords: | Marketing, Agribusiness, Production Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312660&r= |
| By: | Ojha, Renu; Khanal, Aditya R. |
| Keywords: | Agricultural Finance, Agribusiness, Production Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312692&r= |
| By: | Matsushima, Hiroshi; Khanna, Madhu |
| Keywords: | Environmental Economics and Policy, Institutional and Behavioral Economics, Resource/Energy Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312770&r= |
| By: | Evans, Alecia; Sesmero, Juan Pablo |
| Keywords: | Research Methods/Statistical Methods, Institutional and Behavioral Economics, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312866&r= |
| By: | Van Asselt, Joanna; Useche, Maria P. |
| Keywords: | International Development, Food Consumption/Nutrition/Food Safety, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312756&r= |
| By: | Bird, Samuel; Verma, Sneha |
| Keywords: | International Development, Labor and Human Capital, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312717&r= |
| By: | Gardner, George; Johnston, Robert J. |
| Keywords: | Risk and Uncertainty, Environmental Economics and Policy, Resource/Energy Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312657&r= |
| By: | Maria Laura Di Tommaso; Dalit Contini; Dalila De Rosa; Francesca Ferrara; Daniela Piazzalunga; Ornella Robutti |
| Abstract: | We implement a teaching methodology aimed at improving primary school children’s mathematical skills. The methodology, grounded in active and cooperative learning, focuses on peer interaction, sharing of ideas, learning from mistakes, and problem solving. We evaluate the causal effect of the intervention on the gender gap in mathematics in Italy with a randomized controlled trial. The treatment significantly improves girls’ math performance (0.14 s.d.), with no impact on boys, and reduces the math gender gap by more than 40%. The effect is stronger for girls with high pre-test scores. |
| Keywords: | Gender gap, Mathematics, School achievement, Primary school, Active learning, Teaching methodologies, Randomized controlled trial |
| JEL: | I21 I24 J16 C93 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:trn:utwprg:2021/11&r= |
| By: | Robinson, Chadelle R.H.; Wade, Brittany A. |
| Keywords: | Food Consumption/Nutrition/Food Safety, Institutional and Behavioral Economics, Agricultural Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312630&r= |
| By: | Chen, Luoye; Khanna, Madhu |
| Keywords: | Agricultural and Food Policy, Environmental Economics and Policy, Resource/Energy Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312845&r= |
| By: | Liu, Bingcai; Sohngen, Brent; Baker, Justin S. |
| Keywords: | Environmental Economics and Policy, Resource/Energy Economics and Policy, Agribusiness |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312846&r= |
| By: | Ha, Sang Su; Min, Doohong; Dahlke, Garland |
| Keywords: | Marketing, Agribusiness, Production Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312869&r= |
| By: | Apriesnig, Jenny L.; Thompson, Jada |
| Keywords: | Environmental Economics and Policy, Resource/Energy Economics and Policy, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312727&r= |
| By: | Kovacs, Kent; Rider, Shelby |
| Keywords: | Resource/Energy Economics and Policy, Environmental Economics and Policy, Research Methods/Econometrics/Stats |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312626&r= |
| By: | Davis, George C.; Gupta, Anubhab |
| Keywords: | Marketing, Food Consumption/Nutrition/Food Safety, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312740&r= |
| By: | Brenneis, Karina; Wollni, Meike |
| Keywords: | Resource/Energy Economics and Policy, International Development, Environmental Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312691&r= |
| By: | Kohnert, Dirk |
| Abstract: | The combined impact of Brexit and the COVID-19 pandemic on British foreign- and trade relations to Israel and its Arab neighbours constitute a particularly sensitive case. A destabilization of these countries could impact seriously stability and security, not just of the Middle-East region, but on the whole world. So far, the preliminary effects are ambivalent. Whereas Britons entertained reasoned hope for a ‘Corona miracle’ and a marvellous economic recovery in 2021, the prospects for Israel, the occupied Palestinian territories, Lebanon, Jordan and Egypt were less rosy. Presumably, Brexit is likely to harm the United Kingdom in the medium and long run. The post-Brexit impact on Israel and its Arab neighbours will be negative as well, but probably only be felt in the medium and long term also. However, the direct and indirect negative effects of the global COVID-19 crisis will by far outdo the Brexit impact. |
| Keywords: | Brexit, COVID-19-pandemic, Corona, economic growth, Israel, Palestine, Lebanon, Jordan, Egypt, United Kingdom, international trade, free trade area, customs union, Anglosphere, |
| JEL: | F13 F15 F22 F52 F68 I14 N1 N40 O24 O5 Z13 |
| Date: | 2021–08–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109153&r= |
| By: | Jeoffrey Dehez (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Sandrine Lyser (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Date: | 2021–08–16 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03326506&r= |
| By: | Jia, Yanan; Hennessy, David A.; Feng, Hongli |
| Keywords: | Productivity Analysis, Production Economics, Resource/Energy Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312916&r= |
| By: | Cameron-Harp, Micah V.; Hendricks, Nathan P. |
| Keywords: | Resource/Energy Economics and Policy, Environmental Economics and Policy, Production Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312825&r= |
| By: | Wang, Yangchuan; Isengildina Massa, Olga; Stewart, Shamar |
| Keywords: | Agribusiness, Marketing, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312758&r= |
| By: | Smetana, Kerri; Melstrom, Richard; Malone, Trey |
| Keywords: | Food Consumption/Nutrition/Food Safety, Agribusiness, Marketing |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312890&r= |
| By: | Spalding, Ashley; Kiesel, Kristin |
| Keywords: | Agricultural and Food Policy, Marketing, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312924&r= |
| By: | Ajanaku, Bolarinwa A.; Collins, Alan R. |
| Keywords: | Resource/Energy Economics and Policy, Environmental Economics and Policy, Productivity Analysis |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312623&r= |
| By: | Muriuki, James M.; Hudson, Michael D. |
| Keywords: | Agricultural and Food Policy, Food Consumption/Nutrition/Food Safety, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312670&r= |
| By: | Zhang, Wei; Wen, Yuanyuan |
| Keywords: | Environmental Economics and Policy, Labor and Human Capital, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312892&r= |
| By: | Liu, Jing; Wang, Zhan |
| Keywords: | Environmental Economics and Policy, Agricultural and Food Policy, Resource/Energy Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312787&r= |
| By: | Penn, Jerrod; Hu, Wuyang; Vassalos, Michael |
| Keywords: | Research Methods/Statistical Methods, Marketing, Environmental Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312858&r= |
| By: | Dong, Qi |
| Keywords: | Agricultural Finance, Research Methods/Statistical Methods, Production Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312627&r= |
| By: | Bakhtavoryan, Rafael; Hovhannisyan, Vardges |
| Keywords: | Resource/Energy Economics and Policy, Agricultural and Food Policy, Consumer/Household Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312650&r= |
| By: | Chen, Qihui; Pei, Chunchen |
| Keywords: | Food Consumption/Nutrition/Food Safety, Health Economics and Policy, Community/Rural/Urban Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312744&r= |
| By: | Priestley, Samuel L.; Mjelde, James; Price, Edwin C. |
| Keywords: | International Development, International Development, International Relations/Trade |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312885&r= |
| By: | Zilberman, David; Ahsanuzzaman, Ahsanuzzaman |
| Keywords: | Productivity Analysis, International Development, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312899&r= |
| By: | Junko Koeda; Yosuke Kimura |
| Abstract: | This study constructs a dataset of Japanese government bonds' maturity structure for the fiscal years 1965?2020. Using the maturity structure data at the end of each fiscal year for the past three decades, this study structurally estimates a canonical preferred-habitat term structure model extracting the bond supply factor. The results provide a debt maturity equation in the fiscal-year cycle and demonstrate that two yield factors (bond supply factor and short-term interest rate) can account for annual-frequency variations in Japanese bond yields. The supply factor also explains the continued decline in the long-term interest rate for the past two decades. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:tcr:wpaper:e163&r= |
| By: | Dobrowolska Perry, Agnieszka I.; Brown, D Scott |
| Keywords: | Food Consumption/Nutrition/Food Safety, Marketing, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312814&r= |
| By: | Poursina, Davood; Brorsen, Wade |
| Keywords: | Production Economics, Research Methods/Statistical Methods, Risk and Uncertainty |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312653&r= |
| By: | Anica, Sharaban T.; Elbakidze, Levan |
| Keywords: | Resource/Energy Economics and Policy, Environmental Economics and Policy, Productivity Analysis |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312881&r= |
| By: | Soh, Moonwon; Wade, Tara |
| Keywords: | Environmental Economics and Policy, Resource/Energy Economics and Policy, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312840&r= |
| By: | Mulangu, Francis M.; Dadzie, Nicholas |
| Keywords: | International Development, Agricultural and Food Policy, Food Consumption/Nutrition/Food Safety |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312649&r= |
| By: | Hayes, Taylor E.; Robinson, Chadelle R.H. |
| Keywords: | Community/Rural/Urban Development, Agribusiness, Teaching/Communication/Extension/Profession |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312831&r= |
| By: | Badruddoza, Syed; Amin, Modhurima D. |
| Keywords: | Health Economics and Policy, Teaching/Communication/Extension/Profession, Labor and Human Capital |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312647&r= |
| By: | Sandstrom, Kaitlynn M.A.; Lupi, Frank |
| Keywords: | Environmental Economics and Policy, Resource/Energy Economics and Policy, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312913&r= |
| By: | Arnold, Chelsea; Taylor, Mykel R. |
| Keywords: | Agricultural Finance, Agricultural and Food Policy, Agribusiness |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312753&r= |
| By: | Fatema, Naureen; Kibriya, Shahriar |
| Keywords: | Institutional and Behavioral Economics, Agricultural and Food Policy, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312719&r= |
| By: | Pablo A. Celhay; Bruce D. Meyer; Nikolas Mittag |
| Abstract: | We document the extent, nature, and consequences of survey errors in cash welfare and SNAP receipt in three major U.S. household surveys. We find high rates of misreporting, particularly failure to report receipt. The surveys inaccurately capture patterns of multiple program participation, even though there is little evidence of program confusion. Error rates are higher among imputed observations, which account for a large share of false positive errors. Many household characteristics have significant effects on both false positives and false negative errors. Error rates sharply differ by race, ethnicity, income and other household characteristics. The errors greatly affect models of program receipt and estimated effects of income and race are noticeably biased. We examine error due to item non-response and imputation, as well as whether imputation improves estimates. Item non-respondents have higher receipt rates than the population conditional on covariates. The assumptions for consistent estimates in multivariate models fail both when excluding item non-respondents and when using the imputed values. In binary choice models of program receipt, linked data estimates favor excluding item non-respondents rather than using imputed values. Biases are well predicted by the error patterns we document, helping researchers make informed decisions on whether to use imputed values. |
| JEL: | C81 D31 I32 I38 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29184&r= |
| By: | Liang, Chyi-Lyi; Tarpeh, Grace |
| Keywords: | Marketing, Production Economics, Consumer/Household Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312739&r= |
| By: | Choi, Yejun; Lambert, Dayton M. |
| Keywords: | International Relations/Trade, Marketing, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312807&r= |
| By: | Tregeagle, Daniel; Plakias, Zoë |
| Keywords: | Agricultural and Food Policy, Marketing, Productivity Analysis |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312714&r= |
| By: | ShalekBriski, Abby; Devuyst, Eric A.; Brorsen, Wade |
| Keywords: | Risk and Uncertainty, Research Methods/Statistical Methods, Agricultural Finance |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312857&r= |
| By: | Lama-Mendoza, Ashley D.; Lillywhite, Jay M. |
| Keywords: | Teaching/Communication/Extension/Profession, Community/Rural/Urban Development, Agribusiness |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312830&r= |
| By: | Reid, Roberta; Featherstone, Allen M.; Herbel, Kevin |
| Keywords: | Agricultural and Food Policy, Agricultural Finance, Labor and Human Capital |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312812&r= |
| By: | Ji, Yongjie; Miao, Ruiqing |
| Keywords: | Agricultural and Food Policy, Production Economics, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312795&r= |
| By: | Aglasan, Serkan; Rejesus, Roderick M. |
| Keywords: | Production Economics, Risk and Uncertainty, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312769&r= |
| By: | Black, Michael A.; Woodward, Richard T. |
| Keywords: | Resource/Energy Economics and Policy, Research Methods/Statistical Methods, Environmental Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312922&r= |
| By: | O'Brien, Daniel M.; Tejeda, Hernan A.; Llewelyn, Richard V. |
| Keywords: | Risk and Uncertainty, Marketing, Agricultural Finance |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312723&r= |
| By: | Kim, Donghoon; Lopez, Rigoberto A.; Steinbach, Sandro |
| Keywords: | Marketing, Agribusiness, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312708&r= |
| By: | Zhang, Jingfang; Li, Wenying; Dorfman, Jeffrey H. |
| Keywords: | Agribusiness, Research Methods/Statistical Methods, Marketing |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312832&r= |
| By: | Blanchflower, David G.; Graham, Carol L. |
| Abstract: | A number of studies - including our own - find a mid-life dip in well-being. Yet several papers in the psychology literature claim that the evidence of a U-shape is "overblown" and if there is such a thing that any such decline is "trivial". Others have claimed that the evidence of a U-shape "is not as robust and generalizable as is often assumed," or simply "wrong." We identify 424 studies, mostly published in peer reviewed journals that find U-shapes that these researchers apparently were unaware of. We use data for Europe from the Eurobarometer Surveys (EB), 1980-2019; the Gallup World Poll (GWP), 2005-2019 and the UK's Annual Population Survey, 2016-2019 and the Census Bureau's Household Pulse Survey of August 2021, to examine U-shapes in age in well-being. We find remarkably strong and consistent evidence across countries of statistically significant and non-trivial U-shapes in age with and without socio-economic controls. We show that studies cited by psychologists claiming there are no U-shapes are in error; we reexamine their data and find differently. The effects of the mid-life dip we find are comparable to major life events such as losing a spouse or becoming unemployed. This decline is comparable to half of the unprecedented fall in well-being observed in the UK in 2020 and 2021, during the Covid19 pandemic and lockdown, which is hardly "inconsequential" as claimed. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:923&r= |
| By: | Kedar, Vishnu Shankarrao; Neharkar, Pratibha |
| Keywords: | Marketing, Agribusiness, Institutional and Behavioral Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312772&r= |
| By: | Wang, Ying; Woodward, Richard T.; Liu, Jingyue |
| Keywords: | Environmental Economics and Policy, Research Methods/Statistical Methods, Productivity Analysis |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312705&r= |
| By: | Park, Hyungho; McCarl, Bruce A. |
| Keywords: | Environmental Economics and Policy, Resource/Energy Economics and Policy, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312820&r= |
| By: | Santillan, Pamela S.; Sandoval M, Luis A. |
| Keywords: | Marketing, Food Consumption/Nutrition/Food Safety, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312661&r= |
| By: | Akhundjanov, Sherzod B.; Jakus, Paul M. |
| Keywords: | Community/Rural/Urban Development, Institutional and Behavioral Economics, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312804&r= |
| By: | Haqiqi, Iman; Bahalou Horeh, Marziyeh |
| Keywords: | Production Economics, Health Economics and Policy, Environmental Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312776&r= |
| By: | Kuethe, Todd H.; Bora, Siddhartha S.; Katchova, Ani |
| Keywords: | Agricultural Finance, Marketing, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312646&r= |
| By: | Bizimana, Jean Claude; Musumba, Mark |
| Keywords: | Risk and Uncertainty, Agricultural and Food Policy, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312850&r= |
| By: | Liepmann, Hannah.; Pignatti, Clemente. |
| Abstract: | We analyze for the first time the welfare effects of unemployment benefits (UBs) in a context of high infor- mality, exploiting matched administrative and survey data with individual-level information on UB receipt, formal and informal employment, wages and consumption. Using a difference-in- differences approach, we find that dismissal from a formal job causes a large drop in consumption, which is between three to six times larger than estimates for developed economies. This is generated by a permanent shift of UB re- cipients towards informal employment, where they earn substantially lower wages. We then exploit a kink in benefits and show that more generous UBs delay program exit through a substitution of formal with informal employment. However, the disincentive effects are small and short-lived. Because of the high insurance value and the low efficiency costs, welfare effects from increasing UBs are positive for a range of values of the coefficient of relative risk aversion. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ilo:ilowps:995141693302676&r= |
| By: | Mostafavi-Dehzooei, Mohammad H.; Heshmatpour, Masoumeh |
| Keywords: | Community/Rural/Urban Development, Consumer/Household Economics, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312819&r= |
| By: | Ma, Wanglin; Zheng, Hongyun |
| Keywords: | Production Economics, Agricultural Policy, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312632&r= |
| By: | International Monetary Fund |
| Abstract: | Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing. A strong recovery is projected in 2021. The new government is committed to balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory that corrects pre-pandemic excesses, while implementing a range of structural reforms. These efforts, as well as the medium-term recovery, should be bolstered by large Next Generation EU grants. |
| Keywords: | expert fund assistance; General government balance sheet; government effectiveness; monetary policy response; headline inflation; COVID-19; Fiscal stance; Fiscal consolidation; Global |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2021/190&r= |
| By: | Gulati, Kajal; Hobbs, Andrew |
| Keywords: | International Development, Environmental Economics and Policy, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312779&r= |
| By: | Gupta, Tanu; Negi, Digvijay S. |
| Keywords: | Labor and Human Capital, International Development, Community/Rural/Urban Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312636&r= |
| By: | Young, Alicia M.; Riley, John M. |
| Keywords: | Food Consumption/Nutrition/Food Safety, Research Methods/Statistical Methods, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312826&r= |
| By: | Jarociński, Marek |
| Abstract: | Fed's monetary policy announcements convey a mix of news about different kinds of conventional and unconventional policies and about the economy. Financial market responses to these announcements are very leptokurtic: often tiny, but sometimes large. I estimate the underlying structural shocks exploiting this feature of the data. I find standard monetary policy, Odyssean forward guidance, large scale asset purchases and Delphic forward guidance, and estimate their effects. JEL Classification: E52, E58, E44 |
| Keywords: | Asset purchases, Excess kurtosis, Forward guidance, High-frequency identification, Non-Gaussianity |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20212585&r= |
| By: | Xing, Mengying; Mao, Rui |
| Keywords: | International Development, International Relations/Trade, Community/Rural/Urban Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312790&r= |
| By: | Pereira, Rafael H. M.; Boisjoly, Geneviève |
| Abstract: | Introduction chapter to the book Pereira & G. Boisjoly (Editors), Social Issues in Transport Planning (Advances in Transport Policy and Planning Vol. 8). Elsevier. 2021 |
| Date: | 2021–08–23 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:pn2qd&r= |
| By: | Christopher Findlay (Australian National University, Australia); Hein Roelfsema (Utrecht University, the Netherlands); Niall Van De Wouw (CLIVE Data Services, the Netherlands) |
| Abstract: | This paper focuses on air cargo market development, with special attention to the connections between countries in Asia, the European Union, and the United States. Before the coronavirus disease (COVID-19) crisis, we show that participation in global value chains played a crucial role in how countries in Asia increased their exposure to the European Union market, which was hit hardest by the COVID-19 crisis. Analysing the effects of the crisis in 2020- using a fuzzy set complexity approach and recent high-frequency data on air cargo transport - we show that such demand effects, together with domestic contraction conditions, explain a large share of variation in air cargo dynamics across countries in Asia. However, we also show that implementing best practices in pandemic control positively impacts air cargo recovery for countries that cannot rely on export market rebounds. After reviewing the convergence in air cargo business models since 2010, the paper continues to assess recovery options. The main conclusion is that business models will converge on long haul point-to-point models that combine passengers and cargo, moving away from the current hub and spoke system. |
| Keywords: | Air cargo, ASEAN, COVID-19 |
| JEL: | F15 F53 R41 |
| Date: | 2021–07–23 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2021-23&r= |
| By: | Khadka, Savin; Munisamy, Gopinath |
| Keywords: | International Development, International Development, International Relations/Trade |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312908&r= |
| By: | Ogieriakhi, Macson; Woodward, Richard T. |
| Keywords: | Environmental Economics and Policy, Resource/Energy Economics and Policy, Institutional and Behavioral Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312816&r= |
| By: | Ghorbani, Khashayar; Atallah, Shadi S. |
| Keywords: | Environmental Economics and Policy, Agricultural and Food Policy, Production Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312827&r= |
| By: | Gulati, Kajal; Lybbert, Travis J. |
| Keywords: | International Development, Labor and Human Capital, Productivity Analysis |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312778&r= |
| By: | Ben Shepherd (Developing Trade Consultants, USA) |
| Abstract: | The concept of effective rate of protection expresses protection on a sector’s final output relative to protection affecting its inputs. As such, it is well adapted to analysing the effects of trade policy from a supply chain standpoint. This paper makes two contributions to the literature on effective rates of protection. First, it draws on the literature on trade in value added to highlight an alternative to the traditional measure that better accounts for supply chain trade by considering both direct and indirect input use. Second, it includes data on ad valorem equivalents of non-tariff measures, which are increasingly important as trade policy instruments. In an analysis covering 17 aggregate goods sectors, I find that average tariff only effective rates of protection in ASEAN averaged 6.9% and ranged from zero to 23.4% in 2018. By contrast, effective rates including non-tariff measures averaged 14.0% and ranged from –6.2% to 44.0%. While patterns of escalation and even effective taxation differ substantially across sectors, most countries practice a tariff and NTM trade policy that is broadly neutral between input and output sectors, but which causes low to moderate isolation from world markets. Given the complexity of tariffs and NTMs from a supply chain perspective, there would likely be reductions in economic waste accompanying substantial simplification. |
| Keywords: | International trade policy; non-tariff measures; trade in value added; effective rate of protection; Southeast Asia |
| JEL: | F13 F14 O24 |
| Date: | 2021–08–05 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2021-27&r= |
| By: | Oyetunde-Usman, Zainab; Shee, Apurba |
| Keywords: | Institutional and Behavioral Economics, Research Methods/Statistical Methods, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312821&r= |
| By: | Jacob, Jannet Farida; Chakraborty, Lekha S |
| Abstract: | We explore the efficacy of ‘child budgeting’ in public financial management (PFM) to deal with the COVID-19 pandemic in the context of Indian State of Karnataka. We argue that this should be an essential component of government fiscal stimulus responses. The ex-post analysis of public finance for children (PF4C) reveals that in 2020-21 PF4C constitutes15 per cent of total net expenditure, which is 1.68 per cent of GSDP. Of this, 80 per cent is spent on education. The State, despite having allocated 15 per cent of its total net expenditure on child specific programmes, the fiscal marksmanship ratio and the PEFA score for PF4C indicates that there is significant deviation between budget allocation and actual spending. . Growing digital divide and the fragile anthropometric status of children are matters of concern in the State. Karnataka though is a fiscally prudent State, with all its fiscal parameters well within the stipulated limits of “fiscal rules”, has resorted to episodic expenditure compression in social sector which in turn has consequences for PF4C. Given the impact of the COVID-19 pandemic on education, health and income, it is imperative for the State to look beyond the fiscal stimulus packages and strengthen the long term PFM tool like child budgeting. |
| Keywords: | Public Financial Management, Child Budgeting, State Expenditure, Karnataka |
| JEL: | E62 H30 H70 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109520&r= |
| By: | He, Yurou; Tauer, Loren W. |
| Keywords: | Agricultural Finance, Production Economics, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312865&r= |
| By: | Anup Malani; Sabareesh Ramachandran |
| Abstract: | Official statistics on deaths in India during the COVID pandemic are either incomplete or are reported with a delay. To overcome this shortcoming, we estimate excess deaths in India using the household roster from a large panel data set, the Consumer Pyramids Household Survey, which reports attrition from death. We address the problem that the exact timing of death is not reported in two ways, via a moving average and differencing monthly deaths. We estimate roughly 4.5 million (95% CI: 2.8M to 6.2M) excess deaths over 16 months during the pandemic in India. While we cannot demonstrate causality between COVID and excess deaths, the pattern of excess deaths is consistent with COVID-associated mortality. Excess deaths peaked roughly during the two COVID waves in India; the age structure of excess deaths is right skewed relative to baseline, consistent with COVID infection fatality rates; and excess deaths are positively correlated with reported infections. Finally, we find that the incidence of excess deaths was disproportionately among the highest tercile of income-earners and was negatively associated with district-level mobility. |
| JEL: | C80 I10 I14 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29192&r= |
| By: | Das, Abhipsita; Kinnucan, Henry W. |
| Keywords: | Marketing, Research Methods/Statistical Methods, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312868&r= |
| By: | Van Asselt, Joanna; Useche, Maria P.; Morgan, Stephen N. |
| Keywords: | International Development, International Development, Marketing |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312743&r= |
| By: | Mohajan, Haradhan |
| Abstract: | At present all nations are thinking about the circular economy (CE) in production, circulation, and consumption due to environment pollution and resource scarcity. But implementation of CE policy is yet in its infancy. The CE in the form of waste management policy that is achieved in selected developed countries of the world. China is a developing country in the East Asia. The economy of China has grown with an average 10% per annum during the last 30 years that contributes important impacts on the world economy. At the last quarter of the 20th century and beginning of the first quarter of the 21st century China becomes the largest energy user in the world, as the country rapidly becomes the largest exporter in the world. To produce essential commodities according to the global demand the country mainly depends on coal and fossil fuel to create electricity, consequently it emits maximum CO2. Recently, China has faced various harmful odd situations, such as environmental degradation, human health and social problems due to huge population, and source scarcity for the huge production, rapid continuous unplanned urbanization, and growing economy. Thinking for future sustainable economy and human welfare of the country, China is attracted by the CE. The country has taken various attempts to implement CE at the three levels at a time, namely micro, meso and macro levels. |
| Keywords: | 3R Principle, China, Circular Economy, Economic Sustainability, Environmental Problems |
| JEL: | D62 I3 I31 O1 |
| Date: | 2021–06–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109281&r= |
| By: | Poghosyan, Armine; Isengildina Massa, Olga; Stewart, Shamar |
| Keywords: | Agricultural Finance, Marketing, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312904&r= |
| By: | Beverly, Mariah; Neill, Clinton L. |
| Keywords: | Community/Rural/Urban Development, Food Consumption/Nutrition/Food Safety, Health Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312675&r= |
| By: | Haqiqi, Iman; Aqababaei, Monireh |
| Keywords: | Productivity Analysis, Resource/Energy Economics and Policy, Environmental Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312777&r= |
| By: | Chung, Dae Hee; Suh, Dong Hee |
| Keywords: | International Development, Agricultural and Food Policy, International Relations/Trade |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312648&r= |
| By: | Laurens Cherchye; Pierre-André Chiappori; Bram De Rock; Charlotte Ringdal; Frederic Vermeulen |
| Abstract: | To understand the household decision-making process regarding food expenditures for children in poor households in Nairobi, we conduct an experiment with 424 married couples. In the experiment, the spouses (individually and jointly) allocated money between themselves and nutritious meals for one of their children. First, we find strong empirical support for individual rationality and cooperative behavior. Second, our results suggest that women do not have stronger preferences for children’s meals than men. Third, the spouses’ respective bargaining positions derived from consumption patterns strongly correlate with more traditional indicators. Finally, we document significant heterogeneity both between individuals and intra-household decision processes. |
| Keywords: | collective model, intra-household allocation, experiment, Kenya, children |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:ete:ceswps:679644&r= |
| By: | International Monetary Fund |
| Abstract: | The pandemic has caused an unprecedented disruption to economic and social activity, which has been met with swift, strong, and well-coordinated policy responses. These support measures have helped preserve jobs and provide liquidity to companies and income support to vulnerable groups, thereby averting a deeper recession. After contracting by 3.6 percent in 2020, real GDP is projected to grow by 3.6 percent in 2021 and 5.2 percent in 2022, as stimulus and the EU-financed investment works through and vaccinations help control the spread of the virus. However, uncertainty around the outlook is unusually large, given the evolution of the epidemiological situation and the slow start of the vaccination program. |
| Date: | 2021–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2021/194&r= |
| By: | Pauline Affeldt; Elena Argentesi; Lapo Filistrucchi |
| Abstract: | We empirically investigate the relevance of multi-homing in two-sided markets. First, we build a micro-founded structural econometric model that encompasses demand for differentiated products and allows for multi-homing on both sides of the market. We then use an original dataset on the Italian daily newspaper market that includes information on double-homing by readers to estimate readers’ and advertisers’ demand. The results show that an econometric model that does not allow for multihoming is likely to produce biased estimates of demand on both sides of the market. In particular, on the reader side, accounting for multi-homing helps to recognize complementarity between products; on the advertising side, it allows to measure to what extent advertising demand depends on the shares of exclusive and overlapping readers. |
| Keywords: | Two-sided markets, platforms, multi-homing, media, advertising |
| JEL: | C51 D43 C13 L82 M37 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1965&r= |
| By: | Hill, Alexandra E.; Sexton, Richard J. |
| Keywords: | Marketing, Agribusiness, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312771&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | The article proposes an explicit modelization of households behavior by describing the possible relationship between the inter-temporal substitution rate and the opportunity cost of time which could afford the missing link between consumers' choices and macro variables in an Austrian trade cycle tradition. The changes of the value of time during expansions and recessions involve direct and indirect changes of households' demand and saving which create shadow prices. The variations of shadow costs are related to the competitivity of markets restoring equilibria by means of associated changes in monetary prices. |
| Keywords: | Inter-temporal substitution rate,originary interest,psychological interest rate,psychological time,opportunity cost of time,austrian trade cycle |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03325379&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | The article proposes an explicit modelization of households behavior by describing the possible relationship between the inter-temporal substitution rate and the opportunity cost of time which could afford the missing link between consumers' choices and macro variables in an Austrian trade cycle tradition. The changes of the value of time during expansions and recessions involve direct and indirect changes of households' demand and saving which create shadow prices. The variations of shadow costs are related to the competitivity of markets restoring equilibria by means of associated changes in monetary prices. |
| Keywords: | Inter-temporal substitution rate,originary interest,psychological interest rate,psychological time,opportunity cost of time,austrian trade cycle |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-03325379&r= |
| By: | English, Leah A.; Popp, Jennie S. |
| Keywords: | Research Methods/Statistical Methods, Agricultural and Food Policy, Community/Rural/Urban Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312622&r= |
| By: | Janzen, Joseph; Swearingen, Bryn; Yu, Jisang |
| Keywords: | Marketing, Agricultural Finance, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312762&r= |
| By: | Jane Kelsey (University of Auckland, New Zealand) |
| Abstract: | As the digital economy expands in scale, scope, and form it poses major challenges for public revenue and tax policy and administration in Asia and other parts of the global South. When attempts led by developed countries at the OECD-led Inclusive Framework on Base Erosion and Profit Shifting (BEPS) to agree on new norms for taxing digital giants like Facebook, Google, and Amazon stalled, individual countries, including a number of developing countries in Asia, began developing their own responses, notably the adoption of digital services taxes. High-level compromises have recently been announced at the OECD, but the details are yet to come and are not expected to address the needs of developing countries to effectively tax the activities of digital giants operating from offshore. As countries seek effective and workable means to tax the digitalised economy, existing and proposed international rules on digital trade in free trade agreements, and plurilateral moves to develop electronic commerce rules in the World Trade Organization, may fetter their ability to do so. To date, very little attention has been paid in trade negotiations to the consequences of these developments for countries’ tax regimes. Nor have the adequacy, effectiveness, and workability of the tax exceptions in trade and investment agreements been properly re-assessed. Many governments are only becoming aware that trade rules may constrains their ability to regulate the (poorly understood and fast moving) digital domain after they have signed up to them. A series of investigations by the US government under Section 301 of the US Trade Act 1974 into digital services taxes, including those adopted by India and proposed by Indonesia, provides a real-world basis on which to assess how binding and enforceable digital trade rules might be used to challenge digital tax measures at the unilateral, bilateral, and multilateral levels. In highlighting these risks, the paper aims to provide a framework for the tax and trade divisions of governments in ASEAN and East Asia to reflect together on the potential for proposed digital trade rules to impact negatively on their public revenue. |
| Keywords: | electronic commerce, digital trade, digital services tax, CPTPP, RCEP, BEPS |
| JEL: | F13 F14 O24 |
| Date: | 2021–08–06 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2021-28&r= |
| By: | Cornish, Brian; Miao, Ruiqing |
| Keywords: | Resource/Energy Economics and Policy, Environmental Economics and Policy, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312863&r= |
| By: | Martin Browning; Laurens Cherchye; Thomas Demuynck; Bram De Rock; Frederic Vermeulen |
| Abstract: | We present a methodology for the structural empirical analysis of household consumption and time use behaviour under marital stability. Our approach is of the revealed preference type and non-parametric, meaning that it does not require a prior functional specification of individual utilities. Without making use of the transferable utility assumption, but still allowing for monetary transfers, our method can identify individuals' unobserved match qualities and quantify them in money metric terms. We can include both preference factors, affecting individuals' preferences over private and public goods, and match quality factors, driving differences in unobserved match quality. We demonstrate the practical usefulness of our methodology through an application to the Belgian MEqIn data. Our results reveal intuitive patterns of unobserved match quality that allow us to rationalize both the observed matches and the within-household allocations of time and money. |
| Keywords: | household consumption, marital stability, unobserved match quality, revealed preference analysis, intrahousehold allocation |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:ete:ceswps:679647&r= |
| By: | Zhang, Xumin; House, Lisa A. |
| Keywords: | Institutional and Behavioral Economics, Consumer/Household Economics, Marketing |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312651&r= |
| By: | Morrissette, Kendra J.; Lusk, Jayson L. |
| Keywords: | Marketing, Food Consumption/Nutrition/Food Safety, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312792&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | L'examen critique du cours de Pierre Bourdieu sur les fondements sociaux de l'action économique et sa comparaison à la méthodologie suivie par Simon Langlois dans ses analyses des choix de consommation des ménages, engendrent une discussion des méthodologies de test des hypothèses et des conclusions des analyses théoriques dans les diverses sciences sociales et l'exposé succinct de nouveaux modèles qui élargissent la théorie économique des choix individuels, répondant ainsi partiellement aux critiques de Bourdieu. |
| Keywords: | don,marché,rationalité,test,Consommation almentaire |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03325100&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | L'examen critique du cours de Pierre Bourdieu sur les fondements sociaux de l'action économique et sa comparaison à la méthodologie suivie par Simon Langlois dans ses analyses des choix de consommation des ménages, engendrent une discussion des méthodologies de test des hypothèses et des conclusions des analyses théoriques dans les diverses sciences sociales et l'exposé succinct de nouveaux modèles qui élargissent la théorie économique des choix individuels, répondant ainsi partiellement aux critiques de Bourdieu. |
| Keywords: | don,marché,rationalité,test,Consommation almentaire |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-03325100&r= |
| By: | International Monetary Fund |
| Abstract: | Following two emergency Rapid Credit Facility disbursements in June 2020 and March 2021 to assist in addressing the impact of the COVID-19 pandemic, the Sierra Leonean authorities are committed to resuming the program supported by the Extended Credit Facility arrangement. The program is an important policy anchor for the authorities, and its main objectives—revenue mobilization, safeguarding financial stability, and addressing external vulnerabilities—remain valid. While an economic recovery is underway, driven by the mining sector, risks to the outlook are considerable and, the risk of debt distress is high but remains sustainable. This is predicated on the authorities’ ambitious fiscal adjustment and continued reliance on concessional financing and grants. External vulnerabilities are expected to persist over the medium term. |
| Keywords: | financing assurances review; ECF disbursement; Sierra Leonean authorities; financing pressure; Extended Credit Facility arrangement; financing situation; priority expenditure; Arrears; Credit; Budget planning and preparation; Global |
| Date: | 2021–08–13 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2021/183&r= |
| By: | Boeing, Geoff (Northeastern University); Besbris, Max; Wachsmuth, David; Wegmann, Jake |
| Abstract: | This article interprets emerging scholarship on rental housing platforms—particularly the most well-known and used short- and long-term rental housing platforms—and considers how the technological processes connecting both short-term and long-term rentals to the platform economy are transforming cities. It discusses potential policy approaches to more equitably distribute benefits and mitigate harms. We argue that information technology is not value-neutral. While rental housing platforms may empower data analysts and certain market participants, the same cannot be said for all users or society at large. First, user-generated online data frequently reproduce the systematic biases found in traditional sources of housing information. Evidence is growing that the information broadcasting potential of rental housing platforms may increase rather than mitigate sociospatial inequality. Second, technology platforms curate and shape information according to their creators' own financial and political interests. The question of which data—and people—are hidden or marginalized on these platforms is just as important as the question of which data are available. Finally, important differences in benefits and drawbacks exist between short-term and long-term rental housing platforms, but are underexplored in the literature: this article unpacks these differences and proposes policy recommendations. |
| Date: | 2021–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:8jrfe&r= |
| By: | Britwum, Kofi; Demont, Matty |
| Keywords: | Research Methods/Statistical Methods, Agribusiness, Institutional and Behavioral Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312673&r= |
| By: | Małgorzata Walerych |
| Abstract: | The 2004 EU enlargement has triggered large and rapid migration movements from the new to the old member states. The scale of this outflow was unprecedented in the CEE history and its structure was also different from previous emigration waves as it was more heavily biased towards young and educated people. I exploit this post-accession emigration wave to study the aggregate and redistributive effects of emigration. Using a two-country general equilibrium model with heterogeneous agents and endogenous migration choice calibrated to Polish data, I show that emigration lowers output per capita and improves the international investment position of the source country. Changes in population structure resulting from population outflows affect the wage distribution between high-skilled and low-skilled workers, thereby increasing economic inequalities. Moreover, I find that lifting labour mobility barriers is beneficial not only for people who move abroad, but also for skilled never-migrants. |
| Keywords: | migration, sending country, heterogenous agents, EU accession |
| JEL: | F22 J61 D31 D58 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:sgh:kaewps:2021066&r= |
| By: | Kadam, Aditi; McCullough, Ellen |
| Keywords: | International Development, Labor and Human Capital, Institutional and Behavioral Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312789&r= |
| By: | Sivropoulos-Valero, Anna Valero |
| Abstract: | The empirical management literature has found that the education of both managers and the workforce more generally appears to be an important driver of better management practices. This article sets out how such relationships might be conceptualized, and suggests that in a complementarities framework, modern management practices can be thought of as a type of skill-biased technology. It then summarizes the literature that has explored the relationships between human capital and surveyed management practices in manufacturing firms and other sectors, highlighting the handful of papers that have found a positive correlation between management practices and measures of local skills supply. It concludes with a discussion of the policy implications that stem from what we know so far, together with avenues for future research that could shed more light on the causal mechanisms at play. |
| Keywords: | ES/S001735/1; OUP deal |
| JEL: | I23 J24 L20 L60 M20 |
| Date: | 2021–06–29 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:110473&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | The inverse dependency of the estimated variances over the sample size throws a fundamental question on the validity of the usual statistical methodology, since any hypothesis on the value of a coefficient can be tested negatively by increasing the size of the data-set. I suppose that large data-sets are characterized by a concentration of information on homogenous sub-populations, a spatial autocorrelation of the error terms and the covariates may bias the estimation of variances. Using the corrections of variances under spatial autocorrelation, we obtain variances comparable to an estimation on sub-samples (named efficient sub-samples) the sizes of which are sufficient to contain the information which gives rise to similar estimates to those obtained on the whole population. Moreover, the estimation on efficient data-sets does not necessitate the specification of the spatial autocorrelations which are supposed to bias the estimated variances. |
| Keywords: | dataset,estimated variance,spatial autocorrelation,grouped observations |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03325118&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | The inverse dependency of the estimated variances over the sample size throws a fundamental question on the validity of the usual statistical methodology, since any hypothesis on the value of a coefficient can be tested negatively by increasing the size of the data-set. I suppose that large data-sets are characterized by a concentration of information on homogenous sub-populations, a spatial autocorrelation of the error terms and the covariates may bias the estimation of variances. Using the corrections of variances under spatial autocorrelation, we obtain variances comparable to an estimation on sub-samples (named efficient sub-samples) the sizes of which are sufficient to contain the information which gives rise to similar estimates to those obtained on the whole population. Moreover, the estimation on efficient data-sets does not necessitate the specification of the spatial autocorrelations which are supposed to bias the estimated variances. |
| Keywords: | dataset,estimated variance,spatial autocorrelation,grouped observations |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-03325118&r= |
| By: | International Monetary Fund |
| Abstract: | The Gabonese economy was gradually recovering from the 2014 oil price shock when it was hit by the Covid-19 pandemic. Decisive confinement measures have helped save lives, but the pandemic and the fall in oil prices have severely hit the economy, increasing unemployment and poverty. With a weak economy and increased COVID-19 related spending, the fiscal deficit has widened, with a sharp increase in public debt. Emergency financing from the IMF through the Rapid Financing Instrument (US$299.61 million) helped meet urgent balance of payment needs in 2020. Growth is expected to resume in 2021 but the pandemic has made the economic outlook very challenging and generated sizable financing needs over the medium term. |
| Date: | 2021–08–26 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2021/189&r= |
| By: | Grigsby-Calage, Chuck; Mullally, Conner C.; Volpe, Richard J. |
| Keywords: | Marketing, Community/Rural/Urban Development, Agribusiness |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312902&r= |
| By: | Choi, Jaerim; Lim, Sunghun |
| Keywords: | International Relations/Trade, Agricultural Policy, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312621&r= |
| By: | Dobrowolska Perry, Agnieszka I.; Brown, D Scott |
| Keywords: | Agricultural and Food Policy, Marketing, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312813&r= |
| By: | Mona Baraké (EU Tax - EU Tax Observatory); Neef Theresa (EU Tax - EU Tax Observatory); Paul-Emmanuel Chouc (EU Tax - EU Tax Observatory); Gabriel Zucman (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, EU Tax - EU Tax Observatory) |
| Abstract: | In July 2021, 132 countries agreed to a minimum tax rate of at least 15% on their multinationals' profits. However, the joint statement includes a provision that could substantially reduce the effectiveness of this policy. Specifically, the proposed agreement allows multinationals to reduce profits subject to the minimum tax by an amount equal to 5% of the value of their assets and payroll in each country. This carve-out would allow companies to escape taxation as long as they have sufficient operations (assets and employees) in tax havens. In this note, we model how this carve-out would affect the revenues of a global minimum tax. We also discuss the economic issues raised by this type of exemption. We find that a carve-out would reduce tax revenues by 15% to 30% in the European Union relative to a minimum tax without carve-out (depending on the rate of the carve-out and the rate of the minimum tax). Moreover, this policy would exacerbate tax competition by giving firms incentives to move real activity to tax havens. More precisely, in the European Union, a 5% carve-out would reduce revenues of a 25% minimum tax by 21% from €168 billion to €132 billion; it would reduce revenues of a 15% minimum tax by 15% from €48 billion to about €41 billion. A 7.5% carve-out (which is envisioned during the first 5 years of the international agreement) would reduce revenues by 31% for a 25% minimum tax, and by 23% for a 15% minimum tax. Our analysis is based on the data sources and methodology used in the inaugural report of the EU Tax Observatory, "Collecting the Tax deficit of Multinational Companies: Simulations for the European Union" (Baraké et al., 2021). To estimate the cost of substance-based carve-outs, we additionally draw on the OECD's country-by-country data for the value of tangible assets and the number employees, and on data published by the International Labour Organization on monthly earnings. |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03323087&r= |
| By: | Lambert, Lixia H.; Hagerman, Amy D. |
| Keywords: | Agricultural and Food Policy, Institutional and Behavioral Economics, Agricultural Finance |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312891&r= |
| By: | Toshihiro Okubo (Faculty of Economics Keio University) |
| Abstract: | The coronavirus disease (COVID-19) pandemic plunged many sectors of the economy into contraction, particularly the travel, hotel accommodation, and eating/drinking industries. In Japan, some demand-inducing policies targeting such industries were implemented, known as the Go To Travel and Go To Eat campaigns. Using a unique individual-level survey, we investigate what factors make people respond to these campaign policies. We find that certain socioeconomics factors as well as noneconomic factors matter. In particular, risk attitudes, time preferences, and personal traits (e.g., extraversion) as measured by the Big 5 categories crucially affect whether people traveled or dined out in response to these campaigns despite the spread of COVID-19. |
| Keywords: | Covid-19, demand inducing policies, Go-To campaign, risk, Big 5, Japan |
| JEL: | H12 H20 H84 |
| Date: | 2021–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:keo:dpaper:2021-016&r= |
| By: | Pauline Castaing (CERDI - Centre d'Etudes et de Recherche en Droit de l'Immatériel - UP1 - Université Paris 1 Panthéon-Sorbonne - Université Paris-Saclay); Antoine Leblois (CEE-M - Centre d'Economie de l'Environnement - Montpellier - UMR 5211 - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Date: | 2021–06–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03270461&r= |
| By: | GARZON DELVAUX Pedro; RIESGO ALVAREZ Laura; GOMEZ Y PALOMA Sergio (European Commission - JRC) |
| Abstract: | Africa is currently only producing about 10% of global agricultural output while estimated to possess 25% of the world’s arable land. That said, the estimated additional available agricultural land is probably lower than what is generally assumed given the trend in rising rural population density, which, in places is comparable to Asian levels. Moreover, most soils are fragile with low nutrients and organic matter concentration.A "great balancing act" is needed between the increasing and diversifying food and nutrition security (FNS) needs and the resources available. More generically, reaching FNS faces both conventional (demographics) and emerging challenges (climate change). The debate on the sustainability of agriculture requires translation into specific approached and practices. The report gathers a conventional literature review of existing publications (Peer-reviewed journals, major reports and relevant project documents). The material consulted was mostly in English with references to French documents particularly for West and Central African experiences. The key databases consulted were Scopus and Google Scholar.The challenges faced by Africa’s agriculture are very diverse considering a sustainable approach in responding to the regions’ FNS needs. As such, there is no single solution (‘silver bullet’) allowing the sector to sustainably increase its contribution to food supply. Ultimately, opting for a coherent set of approaches or more targeted agricultural practices depends on the great diversity of local contexts (environmental, institutional, seasonal, etc.) as well as characteristics and motivation of individual farmers and their communities. Collective action in the uptake of key practices has been recorded as having produced more sustainable benefits. When looking at each newly adapted practice as innovations it is essential to look towards more coherent, and more importantly, effective sustainable production systems. For FNS intervention to be sustainable, intervention would benefit from adopting a landscape framework so that the various objectives of sustainability can be coherently negotiated alongside pure FNS objectives. Considering land sharing could be particularly relevant for areas with potential agriculture frontier (e.g. Sahel countries, RDC) but also to those were forest "encroachment" is the only remaining frontier given the rising population density. Management approaches that could improve soils emerge as a prerequisite to conventional intensification. As it is the case for input-based intensification of agriculture, the results from the different management-based approaches are not universal and absolute responses cannot be derived from the cases reviewed (including the meta-analyses). Careful targeting and local adaptation remain fundamental ingredients for both improved performance and the long-term adoption of any of the principles and associated practices. A general challenge for adoption is that of timing. Any new practice or approach promoted is expected to provide at least a perceivable improvement in the objectives of farmers in the short-term, when they are generally most sensitive to. |
| Keywords: | sustainable agricultural practices |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc121035&r= |
| By: | Schneider, Kate R. |
| Keywords: | Food Consumption/Nutrition/Food Safety, International Development, International Development |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312917&r= |
| By: | Pavel Chakraborty (Department of Economics, Management School, Lancaster University); Rahul Singh (Economics and Social Sciences Area, Indian Institute of Management, Bangalore) |
| Abstract: | We study the effects of technical barriers to trade (TBTs) imposed by destination markets on prices, marginal costs, and markups of Indian manufacturing exporters. Using detailed firm-product-level data on prices and production from PROWESS, we first identify the underlying component of prices (i.e. marginal costs and markups), and use those as our outcomes of interest in the second stage. We find that (i) introduction of TBTs by importing countries increases marginal costs by 5% and prices by 4%, (ii) there is considerable heterogeneity based on exporters’ initial productivity, (iii) productive exporters (those belonging to the lower deciles) experienced an increase in marginal costs and decrease in markups compared to low productivity exporters, and (iv) overall effects are driven by private firms (both domestic and foreign) belonging to intermediate input industries. |
| Keywords: | technical barriers to trade, prices, marginal costs, markups, exporters |
| JEL: | F1 F14 F16 |
| Date: | 2021–08–04 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2021-26&r= |
| By: | Kim, Kevin N.; Katchova, Ani |
| Keywords: | Agricultural Finance, Agribusiness, Institutional and Behavioral Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312749&r= |
| By: | Bulut, Harun; Hennessy, David A. |
| Keywords: | Agricultural and Food Policy, Risk and Uncertainty, Agricultural Finance |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312738&r= |
| By: | Eric Kamwa (LC2S - Laboratoire caribéen de sciences sociales - UA - Université des Antilles - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03322709&r= |
| By: | Paolo Delle Site; André de Palma; Samarth Ghoslya (CY Cergy Paris Université, THEMA) |
| Abstract: | Peer-to-peer ridesharing, where drivers are also travellers, can alleviate congestion and emissions that plague cities by increasing vehicle occupancy. We propose a socially optimal ridesharing scheme, where a social planner matches passengers and drivers in a way that minimizes travel costs (travel time and fuel) plus environmental costs. The contribution helps in computing the socially optimal ridesharing schemes for networks of any topology within a static framework of route choice with exogenously fixed travel times. A linear programming problem is formulated to compute the optimal matchings. Existence, integrality and uniqueness properties are investigated. The social planner receives a payment from passengers and rewards drivers for the higher costs they bear. Passengers and drivers never incur a loss because travelling alone remains always an option, but matchings may need to be subsidised. The socially optimal matching solution without environmental costs is proved to satisfy the stability property according to which no pair of passenger and driver prefers each other to any of the current partners. In the Sioux Falls network, when 20% of individuals are willing to rideshare, with 80% of passengers travelling by car and 20% by public transport, 17.37% optimally do so, resulting in a 7.05% decrease in CO2 emissions on the all-travel-alone scenario. |
| Keywords: | environment, matching stability, optimization, ridesharing, socially optimal matching |
| JEL: | C78 R40 R48 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ema:worpap:2021-17&r= |
| By: | Anderson, Andrew E.; Schroeder, Ted C.; Hefley, Trevor |
| Keywords: | Marketing, Agricultural Finance, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312906&r= |
| By: | Kalra, Aarushi |
| Abstract: | How does ethnic violence and subsequent segregation shape children's lives? Using exogenous variation in communal violence due to a Hindu nationalist campaign tour across India, I show that violence displaces Muslims to segregated neighbourhoods. Surprisingly, I find that post-event, Muslim primary education levels are higher in cities that were more susceptible to violence. For cohorts enrolling after the riots, the probability of attaining primary education decreases by 2.3% every 100 kilometres away from the campaign route. I exploit differences in the planned and actual route to show that this is due to greater spatial cohesion within communities threatened by violence. |
| Date: | 2021–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:rzjct&r= |
| By: | Lin, Jessie; Gupta, Anubhab |
| Keywords: | International Development, Food Consumption/Nutrition/Food Safety, Production Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312736&r= |
| By: | Tschötschel, Robin (University of Amsterdam) |
| Abstract: | Perceptions of climate politics often align with individual political leaning and associated media consumption patterns, pointing to a need for a fine-grained understanding of how the media integrate climate change with political identities. This study presents an in-depth qualitative analysis of political identity portrayals from 229 articles published in six German and US news outlets during May-July 2019. The results show that the outlets consumed by left- and right-leaning audiences emphasise oppositional identity portrayals, portraying features that are likely to trigger a negative response towards political identities typically op-posed by their recipients. The outlets with a more balanced or centrist audience offer a wider array of identity portrayals and emphasise policy questions over fundamental beliefs. Observed patterns differ considerably between Germany and the US, reflecting political and media system differences. The results add to understanding how the media contribute to political polarisation and consensus-building regarding climate change. |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:r5zdc&r= |
| By: | Melchior Clerc (Banque de France - Banque de France - Banque de France); Luc Jacolin (Banque de France - Banque de France - Banque de France); Thibault Lemaire (Banque de France - Banque de France - Banque de France, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Nathan Viltard (Banque de France - Banque de France - Banque de France) |
| Abstract: | À première vue, l'Afrique apparait moins touchée par la pandémie de la Covid-19 que les pays émergents ou avancés du fait d'une moindre prévalence épidémique. Ce constat actuellement largement diffusé doit être significativement nuancé, du fait d'une deuxième vague épidémique début 2021, de fortes incertitudes pesant sur les statistiques de santé, et le maintien de risques sanitaires élevés compte tenu de la faiblesse des systèmes de santé. |
| Keywords: | Covid-19 |
| Date: | 2021–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03324533&r= |
| By: | Melchior Clerc (Banque de France - Banque de France - Banque de France); Luc Jacolin (Banque de France - Banque de France - Banque de France); Thibault Lemaire (Banque de France - Banque de France - Banque de France, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Nathan Viltard (Banque de France - Banque de France - Banque de France) |
| Abstract: | À première vue, l'Afrique apparait moins touchée par la pandémie de la Covid-19 que les pays émergents ou avancés du fait d'une moindre prévalence épidémique. Ce constat actuellement largement diffusé doit être significativement nuancé, du fait d'une deuxième vague épidémique début 2021, de fortes incertitudes pesant sur les statistiques de santé, et le maintien de risques sanitaires élevés compte tenu de la faiblesse des systèmes de santé. |
| Keywords: | Covid-19 |
| Date: | 2021–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:hal-03324533&r= |
| By: | Sara Özogul |
| Abstract: | Investments into built environments have become a major economic driver, and throughout Europe, regions compete to attract (international) investment capital. Over decades, regional economic analysts have explored and theorized processes of change to adequately plan for regional development. Changes connected to financialized property markets, however, challenge some of the most fundamental assumptions and principles of regional economic analysis: when the built environment is considered as a tradable investment asset, and liquid capital only temporarily fixes in land and property as a by-product, prominent spatial models and theories that centre for example around the role of industry clusters and the locational choices of firms for regional economies, become largely uninstructive. This paper calls for new avenues in regional economic analysis that incorporate financialized property markets and the spatial cognition of investment actors. I argue for a combination of territorial evidence, commercial property investment transaction data, and in-depth insights into the spatial cognition of property market actors in regional investment decisions. The paper begins by reviewing dominant approaches in regional economic analysis. I evaluate the extent to which commonly used indicators capture and reflect financialised property market dynamics and subsequently develop an adapted framework for regional economic analysis. The framework particularly emphasises the need to move beyond widespread assumptions on the rational economic behaviour of property investors by including their perceptions, emotions and intersubjectivities influencing investment locations. The twofold analysis follows a mixed-method approach. First, I conduct a fine-grained analysis of regional economic indicators and their link to residential property investment patterns in continental Western Europe on the basis of detailed territorial evidence from the European Spatial Planning Observation Network. Then, I cross-analyse the territorial evidence with commercial property investment data. By mapping datasets conjointly, I can identify major (mis)matches in regional trends between territorial indicators, transactions volumes and investor profiles. Lastly, I zoom into the Amsterdam Metropolitan Region to unravel context-dependent cognitive structures of investment actors through in-depth interviews with residential property investors to explain these (mis)matches. I end the paper by reviewing the framework and stressing the importance of including territorial data in real estate studies, conducting novel regional analysis valuable for real estate and regional studies scholars and practitioners alike. |
| Keywords: | Cognition; Investment; Property; territorial data |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2021_59&r= |
| By: | Agarwal, Manmohan (RIS); Betai, Neha (Indian Institute of Management) |
| Abstract: | Since the second world war, it was observed that trade between two countries could not be explained entirely by the classical and neoclassical models of trade that emphasised inter-industry trade. It was found that trade between countries was increasingly dominated by intra-industry trade (IIT), where countries exchanged products that fell in the same category. In this paper, we try to determine the extent of IIT between India and its top fifteen trading patterns. Unlike other papers, we do not simply calculate aggregate IIT for all merchandise trade. Instead, we focus on manufactured products and divide them into ten categories based on their technological content. Our analysis reveals that while India's IIT has increased in recent years, it is not the dominant form of trade between India and its most important partners. When we look at the factors that determine IIT, we find that India's comparative advantage and trade agreements play a positive and significant role in increasing IIT. Lastly, an analysis of the category Medium Technology Manufactures - Process reveals that this sector has potential for higher IIT and gains from it if India can enhance its efficiency and increase its size. |
| Keywords: | Intra-industry trade ; Technological content ; Trade Partners |
| JEL: | F12 F14 F15 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:npf:wpaper:21/348&r= |
| By: | Jakub Rybacki; Dobromił Serwa |
| Abstract: | This research analyzes factors affecting scientific success of central bankers. We combine data from the RePEc and EDIRC databases, which contain information about economic publications of authors from 182 central banks. We construct a dataset containing information about 3312 authors and almost 80 thousand scientific papers published between 1965 and 2020. Results from Poisson regressions of citation impact measure called h-index, on a number of research features suggest that economists from the US Federal Reserve Banks, international financial institutions, and some eurozone central banks are cited more frequently than economists with similar characteristics from central banks located in emerging markets. Researchers from some big emerging economies like Russia or Indonesia are cited particularly infrequently by the scientific community. Beyond these outcomes, we identify a significant positive relationship between research networking and publication success. Moreover, economists cooperating with highly cited scientists also obtain a high number of citations even after controlling for the size of their research networks. |
| Keywords: | RePEc, Scientific Success, h-index, Big data. |
| JEL: | E58 D02 I23 |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:sgh:kaewps:2021065&r= |
| By: | Morgan, Stephen N.; Farris, Jarrad G. |
| Keywords: | Institutional and Behavioral Economics, International Development, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312707&r= |
| By: | Maxime Phillot; Samuel Reynard |
| Abstract: | We quantify the effects of monetary policy shocks on the yield curve through their impact on Treasury liquidity premia. When the Fed raises interest rates, the spread between less-liquid assets and Treasuries of the same maturity and risk increases, as the liquidity value of holding Treasuries increases when the aggregate volume of banks’ customer deposits decreases. The longer the maturity is, the smaller - but still significant - the increase in the liquidity premium is, as longer-term Treasuries are less liquid. Due to this change in liquidity premia, the spread between a 10-year Treasury bond and a 3-month T-bill yield increases by approximately 5 basis points for a one-percentage-point increase in the policy rate, i.e., the Treasury yield curve steepens, ceteris paribus. |
| Keywords: | Treasury liquidity premia, monetary policy, yield curve, deposit channel |
| JEL: | E52 E43 E41 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:snb:snbwpa:2021-14&r= |
| By: | Kilders, Valerie; Caputo, Vincenzina |
| Keywords: | Research Methods/Statistical Methods, Research Methods/Statistical Methods, Marketing |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312693&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | The opportunity cost of time is estimated using a model based on domestic production (depending on monetary and time expenditures) and direct utility (depending on produced commodities). These factors of domestic production are measured by the matching of a Family Budget survey with a Time Use survey. The new model is estimated on Canadian, French, Polish, US and Burkina-Faso statistics. It allows the economic value of human life to be estimated, based on the integration of the marginal value of each instant during an individual's life cycle. This value is shown to give a different pattern across countries compared to their per capita GDP. Finally, the opportunity cost of time is shown to vary between commodities according to the possibility of substituting money and time in domestic production. It also increases between countries relatively to the average wage rate, according to the degree of liberalization of the labor markets. |
| Keywords: | opportunity cost of time,value of human life,elasticity of substitution |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03325332&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | The opportunity cost of time is estimated using a model based on domestic production (depending on monetary and time expenditures) and direct utility (depending on produced commodities). These factors of domestic production are measured by the matching of a Family Budget survey with a Time Use survey. The new model is estimated on Canadian, French, Polish, US and Burkina-Faso statistics. It allows the economic value of human life to be estimated, based on the integration of the marginal value of each instant during an individual's life cycle. This value is shown to give a different pattern across countries compared to their per capita GDP. Finally, the opportunity cost of time is shown to vary between commodities according to the possibility of substituting money and time in domestic production. It also increases between countries relatively to the average wage rate, according to the degree of liberalization of the labor markets. |
| Keywords: | opportunity cost of time,value of human life,elasticity of substitution |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-03325332&r= |
| By: | Geis-Thöne, Wido |
| Abstract: | Der erste Lockdown im Frühjahr 2020 hat sich negativ auf die Arbeitsmarktintegration der Flüchtlinge in Deutschland ausgewirkt. Zwischen März 2020 und Mai 2020 ist die Zahl der sozialversicherungspflichtig Beschäftigten aus den acht Asylherkunftsländern Afghanistan, Eritrea, Irak, Iran, Nigeria, Pakistan, Somalia und Syrien um 12.000 oder 3,4 Prozent gesunken. Besonders betroffen waren dabei die An- und Ungelernten im Helferbereich. In den folgenden Monaten hat sich die Lage jedoch wieder deutlich entspannt und auch während des zweiten Lockdowns nicht erneut gravierend verschlechtert. So lag die Beschäftigtenzahl im März 2021 um 36.000 oder 9,8 Prozent höher als ein Jahr zuvor. Gleichzeitig ist auch der Anteil erwerbsfähigen Leistungsberechtigten im Arbeitslosengeld II-Bezug an der Bevölkerung aus den acht Asylherkunftsländern zwischen Februar 2020 und Februar 2021 von 52,5 Prozent auf 50,2 Prozent gesunken. Dies war nicht zu erwarten, da ein großer Teil der sozialversicherungspflichtig Beschäftigten aus den Asylherkunftsländern in den von der Pandemie besonders betroffenen Bereichen der Arbeitnehmerüberlassung und des Gastgewerbes tätig war und ist. Jedoch konnten die Beschäftigungsverluste hier durch Zuwächse in anderen Branchen wie insbesondere Verkehr und Lagerei, Gesundheits- und Sozialwesen und Handel überkompensiert werden. Ein deutlich anderes Bild zeichnet die Zahl der Arbeitslosen aus den Asylherkunftsländern, die im März 2021 um 20,3 Prozent oder 45.000 über dem Vorjahreswert lag. Dies erklärt sich vorwiegend damit, dass während der Pandemie viele Qualifizierungsmaßnahmen ausgesetzt wurden. Nehmen nicht erwerbstätige Bezieher von Arbeitslosengeld II an diesen teil, werden sie nicht als arbeitslos gewertet. Auch wenn sich die Arbeitsmarktlage damit an sich nicht verschlechtert hat, ist dies für den weiteren Verlauf der Integration sehr ungünstig, da so für den Einstieg in den Arbeitsmarkt wichtige Qualifikationen nicht erworben werden. Dabei war der Anteil der sozialversicherungspflichtig Beschäftigten an den 15- bis 64-jährigen Personen aus den acht Asylherkunftsländern mit 31,8 Prozent im März 2021 im Vergleich zu 46,6 Prozent bei allen Ausländern und 63,1 Prozent bei den Inländern noch sehr niedrig. Vor diesem Hintergrund ist auch weiterhin ein forciertes integrationspolitisches Handeln notwendig, um die Integration der Geflüchteten in den deutschen Arbeitsmarkt auf längere Sicht zu einem erfolgreichen Abschluss zu bringen. |
| JEL: | F22 J15 J20 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwkrep:312021&r= |
| By: | Benjamin Rontard (Autonomous University of San Luis Potosí); Catherine Leining (Motu Economic and Public Policy Research) |
| Abstract: | The provision of industrial free allocation can be one of the most technically challenging and politically fraught elements of designing an emissions trading system (ETS). In the New Zealand Emissions Trading Scheme (NZ ETS), the primary rationales for industrial free allocation have been to mitigate the risk of emissions leakage to other jurisdictions and avoid economic regrets from losing domestic production that would be viable if other jurisdictions adopted more ambitious climate change policies. Since 2010, emissions-intensive and trade-exposed (EITE) industrial producers have received free allocation on an output basis at two levels of assistance (90 per cent and 60 per cent) without an absolute limit. In 2020, major reform legislation introduced default phase-out pathways over 2021–2050 for industrial free allocation, with the potential for future activity-specific adjustment. The government has signalled it will consider broader changes post-2021 to avoid overallocation while still mitigating the risk of emissions leakage overseas. To help inform future policy making on these issues, this paper examines conceptual design issues for free allocation in an ETS, describes the regime for industrial free allocation in the NZ ETS, and provides comparative analysis with three other systems. It then identifies a range of options for further reform: changing the eligibility criteria, changing the calculation methodology, substituting alternative measures, or accepting and managing emissions leakage. Further research will be needed to evaluate the merits of these options. More fundamentally, the government should consider whether the public and private benefits of maintaining and improving industrial free allocation are worth the cost and complexity in the evolving international and domestic contexts. Ultimately, any future provision of industrial free allocation should be used to assist – and not block – the transition to an economy that rewards low-emission innovation. |
| Keywords: | Emissions trading, free allocation, industry, climate change mitigation |
| JEL: | Q54 Q58 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:mtu:wpaper:21_13&r= |
| By: | Boris Babic (Unknown); Daniel L. Chen (TSE - Toulouse School of Economics - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Theodoros Evgeniou (Unknown); Anne-Laure Fayard (Unknown) |
| Abstract: | In a 2018 Workforce Institute survey of 3,000 managers across eight industrialized nations, the majority of respondents described artificial intelligence as a valuable productivity tool. But respondents to that survey also expressed fears that AI would take their jobs. They are not alone. The Guardian recently reported that in the UK "more than 6 million workers fear being replaced by machines AI's advantages can be cast in a dark light: Why would humans be needed when machines can do a better job? To allay such fears, employers must set AI up to succeed rather than to fail. The authors draw on their own and others' research and consulting on AI and information systems implementation, along with organizational studies of innovation and work practices, to present a four-phase approach to implementing AI. It allows organizations to cultivate people's trust—a key condition for adoption—and to work toward a distributed cognitive system in which humans and artificial intelligence both continually improve |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03276433&r= |
| By: | Neumayer, Eric |
| Abstract: | The province of Aceh in Indonesia provides a promising case for studying the economic legacy effects of conflict given sub-national district-level data on violence and gross domestic product. We demonstrate specific negative economic legacy effects of armed conflict despite a general peace dividend: whilst all districts in Aceh grow faster after conflict ends in 2005 than during the conflict, the districts that suffered relatively more from violence during the war grow relatively more slowly during peacetime than districts that experienced relatively little violence. These negative legacy effects are relatively short-lived, however, and are no longer statistically significant from 2009 onwards. |
| Keywords: | Aceh; armed conflict; economic growth; Indonesia; natural disaster; peace divident; Sage deal |
| JEL: | O40 O47 Q54 |
| Date: | 2021–03–02 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:108236&r= |
| By: | Mathias Huebener; Gert G. Wagner |
| Abstract: | Offizielle Daten des Digitalen Impfquoten-Monitoring (DIM) des RKI erlauben es nicht, anhand von sozio-demografischen und sozio-ökonomischen Merkmalen Personengruppen mit einer vergleichsweise geringen Impfquote zu identifizieren und dadurch eine gezielte Ansprache für eine Impfung zu initiieren. Diese Studie untersucht anhand von Daten der COMPASS-Befragung den Zusammenhang zwischen dem Impfstatus und sozio-demografischen und sozio-ökonomischen Merkmalen. Weiterhin werden Unterschiede in den Gründen der Nichtimpfung nach diesen Merkmalen untersucht. Im Juli 2021 ist die Impfquote von Männern höher ist als die von Frauen, und nimmt signifikant mit dem Alter, dem Bildungsabschluss und dem Haushaltseinkommen zu. Demnach liegt das größte verbleibende Impfpotential bei jüngeren Personen mit niedrigerem Bildungsabschluss und niedrigerem Haushaltseinkommen. |
| Keywords: | Covid-19, Impfungen, Immunisierung, sozio-ökonomischer Status, sozio-demographische Merkmale |
| JEL: | I10 I14 I18 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1968&r= |
| By: | Marc Blatter; Andreas Fuster |
| Abstract: | This paper analyzes efficiency and profitability in the Swiss banking sector over the period 1997-2019. We find strong evidence for scale economies: for most banks in the sample, efficiency and profitability increase with bank size. Using an instrumental variables strategy for a subset of geographically restrained banks, we find that the effect of size on efficiency and profitability is likely causal. Scale economies have been more pronounced since 2010 than in the years prior to the global financial crisis. There is little evidence for scale economies for the largest (systemically important) banks; their relatively lower efficiency and lower profitability appear driven by certain aspects of their business model. Our results further indicate that good capitalization and high efficiency and profitability are compatible. |
| Keywords: | Bank efficiency, profitability, economies of scale, financial regulation |
| JEL: | G21 G28 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:snb:snbwpa:2021-15&r= |
| By: | Stéphane Girard (LJK - Laboratoire Jean Kuntzmann - Inria - Institut National de Recherche en Informatique et en Automatique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes, STATIFY - Modèles statistiques bayésiens et des valeurs extrêmes pour données structurées et de grande dimension - Inria Grenoble - Rhône-Alpes - Inria - Institut National de Recherche en Informatique et en Automatique - LJK - Laboratoire Jean Kuntzmann - Inria - Institut National de Recherche en Informatique et en Automatique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes); Gilles Claude Stupfler (CREST - Centre de Recherche en Economie et Statistique [Bruz] - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz]); Antoine Usseglio-Carleve (TSE - Toulouse School of Economics - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Expectiles define a least squares analogue of quantiles. They have been the focus of a substantial quantity of research in the context of actuarial and financial risk assessment over the last decade. The behaviour and estimation of unconditional extreme expectiles using independent and identically distributed heavy-tailed observations has been investigated in a recent series of papers. We build here a general theory for the estimation of extreme conditional expectiles in heteroscedastic regression models with heavy-tailed noise; our approach is supported by general results of independent interest on,residual-based extreme value estimators in heavy-tailed regression models, and is intended to cope with covariates having a large but fixed dimension. We demonstrate how our results can be applied to a wide class of important examples, among which linear models, single-index models as well as ARMA and GARCH time series models. Our estimators are showcased on a numerical simulation study and on real sets of actuarial and financial data. |
| Keywords: | Tail empirical process of residuals,Single-indes model,Residual-based estimators,Regression models,Heteroscedasticity,Heavy-tailed distribution,Extreme value analysis,Expectiles |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03306230&r= |
| By: | Yujia He (Assistant Professor, Patterson School of Diplomacy and International Commerce , University of Kentucky Technology.Author-Email: yujia.he@uky.edu); Angela Tritto (Adjunct Professor, Division of Public Policy, Hong Kong University of Science and Technology Technology.Author-Email: tritto@ust.hk) |
| Abstract: | The pandemic has compounded urban megaprojects' exposure to political risk The pandemic also exposed the dire shortage of hard and soft infrastructure in modern cities Governments should therefore weigh building smart city from scratch vis-a-vis improving existing urban dwellings The case of Forest City shows that built-from-scratch smart city projects targeting wealthy foreigners need to adjust and cater to the needs of the local communities to contribute to a sustainable post-pandemic future. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:hku:briefs:202156&r= |
| By: | Verena Rock; Sarah Schlesinger; Philipp J. Liebold; Nadine Brehm |
| Abstract: | PropTechs are external drivers of digitalisation in the real estate industry. Offering mostly innovative digital solutions, they are moving into the market with high speed, but struggeling with challenges or even market entry barriers. There is a lack of systematic approaches to transparency in key market characteristics and figures of the growing German proptech sector, meanwhile being classified as a subsector of the real estate industry. The majority of available surveys and studies on digital transformation and digitalisation analyses or emphasises the view of the traditional real estate sector. PropTechs' perspectives and their challenges are under-represented. This paper aims at closing this gap. Using two proptech surveys from 2020 (explorative, interview-based) and 2021 (descriptive, questionnaire-based with 185 proptech respondents), the authors classify proptechs by their degree of maturity. Applying factor analysis, they identify major challenges for these proptech clusters throughout their sales cycle, when faced with the real estate industry as customer. Further, the paper will elaborate on drivers and models of horizontal and vertical cooperations between proptechs and real estate companies. Finally, the authors reflect on recommendations for a sustainable digital transformation of the German real estate industry, integration both proptechs and real estate companies in a common ecosystem. |
| Keywords: | Digital Transformation; Digitalisation; market entry barriers; proptech |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2021_166&r= |
| By: | Jovanovic, Nina; Ricker-Gilbert, Jacob |
| Keywords: | International Development, Productivity Analysis, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312760&r= |
| By: | Tolhurst, Tor N.; Gammans, Matthew |
| Keywords: | Research Methods/Statistical Methods, Productivity Analysis, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312887&r= |
| By: | Elise Petit; Bruno Van Pottelsberghe; Lluís Gimeno Fabra |
| Abstract: | This paper evaluates whether and to what extent patent offices can substitute for each other. Based on an original dataset comprising 7.200 PCT patents filed simultaneously in Japan, the USA and Europe, the empirical analysis confirms that the degree of substitution is significant. Patent offices search up to 37% less technology classes, generate up to 33% less citations, and send up to 43% less communications when a PCT application was previously processed by another office. They also rely more on international citations and provide more information in the early stage of the examination process. Further substitution may still be leveraged, as around 55% of technology classes searched and up to 70% of backward citations are duplicates -voluntarily or not - of prior examination work. |
| Keywords: | Patent systems, TRIPs, national bias, examination, international comparison |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/330841&r= |
| By: | Grailey, K. E.; Murray, E.; Reader, T.; Brett, S. J. |
| Abstract: | Introduction: Psychological safety is the shared belief that the team is safe for interpersonal risk taking. Its presence improves innovation and error prevention. This evidence synthesis had 3 objectives: explore the current literature regarding psychological safety, identify methods used in its assessment and investigate for evidence of consequences of a psychologically safe environment. Methods: We searched multiple trial registries through December 2018. All studies addressing psychological safety within healthcare workers were included and reviewed for methodological limitations. A thematic analysis approach explored the presence of psychological safety. Content analysis was utilised to evaluate potential consequences. Results: We included 62 papers from 19 countries. The thematic analysis demonstrated high and low levels of psychological safety both at the individual level in study participants and across the studies themselves. There was heterogeneity in responses across all studies, limiting generalisable conclusions about the overall presence of psychological safety. A wide range of methods were used. Twenty-five used qualitative methodology, predominantly semi-structured interviews. Thirty quantitative or mixed method studies used surveys. Ten studies inferred that low psychological safety negatively impacted patient safety. Nine demonstrated a significant relationship between psychological safety and team outcomes. The thematic analysis allowed the development of concepts beyond the content of the original studies. This analytical process provided a wealth of information regarding facilitators and barriers to psychological safety and the development of a model demonstrating the influence of situational context. Discussion: This evidence synthesis highlights that whilst there is a positive and demonstrable presence of psychological safety within healthcare workers worldwide, there is room for improvement. The variability in methods used demonstrates scope to harmonise this. We draw attention to potential consequences of both high and low psychological safety. We provide novel information about the influence of situational context on an individual’s psychological safety and offer more detail about the facilitators and barriers to psychological safety than seen in previous reviews. There is a risk of participation bias - centres involved in safety research may be more aligned to these ideals. The data in this synthesis are useful for institutions looking to improve psychological safety by providing a framework from which modifiable factors can be identified. |
| Keywords: | healthcare workers; psychological safety; qualitative research |
| JEL: | R14 J01 |
| Date: | 2021–08–05 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111806&r= |
| By: | André de Palma; Lucas Javaudin; Patrick Stokkink; Léandre Tarpin-Pitre (CY Cergy Paris Université, THEMA) |
| Abstract: | In ridesharing, commuters with similar itineraries share a vehicle for their trip. Despite its clear benefits in terms of reduced congestion, ridesharing is not yet widely accepted. We propose a specific ridesharing variant, where drivers are completely in exible. This variant can form a competitive alternative against private transportation, due to the limited e orts that need to be made by drivers. However, due to this in exibility, matching of drivers and riders can be substantially more complicated, compared to the situation where drivers can deviate. In this work, we identify the e ect of such a ridesharing scheme on the congestion in a real network of the ^Ile-de-France area for the morning commute. We use a dynamic mesoscopic trac simulator, Metropo- lis, which computes departure-time choices and route choices for each commuter. The matching is solved heuristically outside the simulation framework, before departures occur. We show that even with in exible drivers, ridesharing can alleviate congestion. By slightly increasing exibility, the performance of the ridesharing scheme can be further improved. Furthermore, we show that ridesharing can lead to fuel savings, CO2 emission reductions and travel time savings on a network level, even with a low participation rate. |
| Keywords: | Ridesharing, Carpooling, Matching, Dynamic Congestion |
| JEL: | R41 R48 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ema:worpap:2021-16&r= |
| By: | Yang, Jinyang; Davis, George C. |
| Keywords: | Food Consumption/Nutrition/Food Safety, Consumer/Household Economics, Health Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312844&r= |
| By: | Solikin M. Juhro (Bank Indonesia); Reza Anglingkusumo (Bank Indonesia) |
| Abstract: | This paper empirical shows that unconventional monetary policy (UMP) in the US after the global financial crisis (GFC) affects capital inflows to SEACEN economies. For open middle income SEACEN economies, such as Indonesia, capital flows volatility induced by the UMP in the US adds to the complexity of managing monetary policy trilemma (MPT). A recent hypothesis states that in post GFC, it is possible for monetary authority in an open emerging market economy to retain monetary policy sovereignty (MPS) if and only if capital flows is managed, directly or indirectly, regardless the degree of exchange rate flexibility. This paper contends that for the case of Indonesia, MPS remains feasible even without a direct capital control. This supports the argument that MPS depends more on the strength of the policy framework to address domestic policy objectives. We argue that the implementation of central bank policy mix by Bank Indonesia provides such strength. |
| Keywords: | capital inflows, unconventional monetary policy, monetary policy trilemma |
| JEL: | E22 F32 F36 F41 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:idn:wpaper:wp052020&r= |
| By: | Adjemian, Michael K.; Le, Han; Robe, Michel A. |
| Keywords: | Risk and Uncertainty, Marketing, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312872&r= |
| By: | Shahbaz, Muhammad; Sinha, Avik; Raghutla, Chandrashekar; Vo, Xuan Vinh |
| Abstract: | This paper contributes to literature by divulging the nature of scale and technique effects on renewable energy consumption, considering foreign direct investment (FDI) and financial development as considerable factors of renewable energy demand. The data for 39 countries over the period of 2000-2019 is used for empirical analysis. In doing so, second generation methodological approaches are applied to decompose scale and technique effects. The empirical results show the presence of cointegration between the model parameters, in the presence of cross-sectional dependence and structural breaks. Further, financial development is positively linked with renewable energy consumption. Foreign direct investment and renewable energy demand are positively linked. Composition effect has negative effect on renewable energy consumption. Economic growth and fossil fuel consumption have positive impact on renewable energy consumption. Long run estimation results indicate that renewable energy-FDI and renewable energy-financial development associations are U-shaped. It indicates that the scale effects exerted by FDI and financial development are overridden by technique and composition effects, and hence, the demand for renewable energy and consequential renewable energy consumption rises with the progression of economic growth. Based on this, policy suggestions are provided for these nations to ascertain sustainable development through bringing forth transformations in the energy policies. |
| Keywords: | Scale and Technique Effects, Financial Development, Foreign Direct Investment, Renewable Energy Consumption |
| JEL: | Q4 |
| Date: | 2021–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109125&r= |
| By: | Keiro Hattori (Ryukoku University) |
| Abstract: | Japan's population peaked in 2008; the country has been losing inhabitants since then, with geographical disparities in terms of degree of demographic shrinking and territorial devitalisation. Metropolitan areas like Tokyo are still demographically growing whereas many small and mid-sized cities have been losing their population, but this is under-investigated in literature on shrinking cities and urban dynamics, especially in English. This paper attempts to clarify the types of indicators that correlate with social population change in "non-metropolitan urban Japan": we have tried to identify potential correlations between social migratory population change (measured by net migration) and some social and economic indicators in small and mid-sized cities (population under 50,000). From 2010 to 2019, we picked 30 municipalities that have regis-tered the biggest demographic gains thanks to social migratory increase (in-migration), and 30 others that have suffered the biggest population losses out of social migratory decrease (out-migration), so as to see if there is any statistical difference between these groups with regards to certain economic or social indicators |
| Abstract: | La population japonaise a atteint son maximum historique en 2008 et ne cesse de décroître depuis. Cependant, il existe des inégalités géographiques dans l'ampleur de cette décroissance. Les aires métropolitaines telles que Tokyo continuent de croître démographiquement, tandis que de nombreuses villes petites et moyennes ont perdu de la population ; mais cela fait l'objet de très peu de publications, notamment en langue anglaise. Cette communication propose de tester différents facteurs explicatifs grâce à un ensemble d'indicateurs économiques et sociaux. À cette fin, l'auteur a cherché à identifier des corrélations entre le changement démographique et des indicateurs économiques et sociaux dans l'ensemble de ces villes (moins de 50 000 habitants). Il a ensuite sélectionné, sur 2010-2018, les 30 municipalités qui ont gagné le plus d'habitants et les 30 qui en ont perdu le plus, afin de vérifier s'il existe une différence statistique significative entre ces groupes sur la base de plusieurs indicateurs socio-économiques |
| Keywords: | Shrinking small and mid-sized municipalities,Social migratory population increase,T-Test,Japanese shrinking and aging phenomena,municipalités petites et moyennes en décroissance,croissance démographique par soldes migratoires,T-test,phénomènes de décroissance et de vieillissement au Japon |
| Date: | 2020–11–18 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03115183&r= |
| By: | Henrik Egbert (Anhalt University of Applied Sciences, Bernburg, Germany) |
| Abstract: | Certain religious entrepreneurial minded communities are highly successful. It is tempting to assume that the underlying social mechanism of business success can be used as a blueprint for the development of larger social entities. Recently, Javaid, Shamsi and Hyder (2020) have argued that inefficiencies of markets and bureaucracies may be avoided if religious entrepreneurial communities are considered an alternative for membersÕ business investment, capital- and expertise-support to businesses, and the redistribution of wealth in favor of economically vulnerable community members. Consequently, the title of their paper is ÒReligious entrepreneurial communities as a solution for socioeconomic injusticeÓ. I address this problematic position by an extended comment and point out inefficiencies induced by such an approach. I apply the concepts of networks and clubs to tackle problems of religious entrepreneurial communities as sub-groups of larger social entities. Individual beliefs, individual preferences, and norms of cooperative behavior can occur among members of any community, with or without common religious beliefs. Consequently, a shift from the areligious, market-oriented form of economic organization towards specific sets of religious beliefs will not, by itself, endanger business success. These issues require considerable attention before a transfer of behavioral pattern prevalent in small communities can be applied to larger groups. I emphasize the danger of generalizations from small case study results of specific entrepreneurial communities to larger social entities, such as societies. |
| Keywords: | entrepreneurial communities, socioeconomic justice, community-based entrepreneurship, entrepreneurship-based policy, clubs, networks |
| JEL: | D71 D85 P42 Z12 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:sko:wpaper:bep-2021-07&r= |
| By: | Chakraborty, Pinaki (National Institute of Public Finance and Policy) |
| Abstract: | The objective of this paper is to understand the core recommendations of the Fifteenth Finance Commission in the context of COVID-19 pandemic. Given the macroeconomic uncertainties and rising fiscal needs, the commission focused on fiscal stability, equity and enhancement of fiscal space through higher borrowing with a fiscal exit plan for both Union and States. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:npf:wpaper:21/351&r= |
| By: | Steuer, Sebastian; Tröger, Tobias |
| Abstract: | We study the design features of disclosure regulations that seek to trigger the green transition of the global economy and ask whether such regulatory interventions are likely to bring about sufficient market discipline to achieve socially optimal climate targets. We categorize the transparency obligations stipulated in green finance regulation as either compelling the standardized disclosure of raw data, or providing quality labels that signal desirable green characteristics of investment products based on a uniform methodology. Both categories of transparency requirements canbe imposed at activity, issuer, and portfolio level. Finance theory and empirical evidence suggest that investors may prefer "green" over "dirty" assets for both financial and non-financial reasons and may thus demand higher returns from environmentally-harmful investment opportunities. However, the market discipline that this negative cost of capital effect exerts on "dirty" issuers is potentially attenuated by countervailing investor interests and does not automatically lead to socially optimal outcomes. Mandatory disclosure obligations and their (public) enforcement can play an important role in green finance strategies. They prevent an underproduction of the standardized high-quality information that investors need in order to allocate capital according to their preferences. However, the rationale behind regulatory intervention is not equally strong for all categories and all levels of "green" disclosure obligations. Corporate governance problems and other agency conflicts in intermediated investment chains do not represent a categorical impediment for green finance strategies. However, the many forces that may prevent markets from achieving socially optimal equilibria render disclosure-centered green finance legislation a second best to more direct forms of regulatory intervention like global carbon taxation and emissions trading schemes. Inherently transnational market-based green finance concepts can play a supporting role in sustainable transition, which is particularly important as long as first-best solutions remain politically unavailable. |
| Keywords: | green finance,sustainable finance,ESG,mandatory disclosure,taxonomies,benchmarks,labels,asset pricing,market discipline,climate change,climate risk |
| JEL: | D4 D6 G1 G3 G4 K2 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:safewp:320&r= |
| By: | Toshihiro Okubo (Faculty of Economics Keio University) |
| Abstract: | In the spread of coronavirus disease (COVID-19), people have been requested to work from home with information and communication technology (ICT) tools, i.e. telework. This paper investigates which factors (infection of COVID-19, individual characteristics, task characteristics, working environments, and COVID-19 countermeasure policies) are associated with telework use in Japan. Using the unique panel survey on telework, we construct occupational indices for teleworkability and the risk exposure to infection. Our estimation finds that although telework use remains low in Japan, educated, high ICTskilled, younger, and female workers who engage in less teamwork and less routine tasks tend to use telework. Working environments such as the richness of IT communication tools, digitalized offices, flexible-hour working systems, and companywide reform for teleworking can all promote telework use. |
| Keywords: | telework, Covid-19, teleworkability, tasks, working environments |
| JEL: | J50 |
| Date: | 2021–08–18 |
| URL: | http://d.repec.org/n?u=RePEc:keo:dpaper:2021-015&r= |
| By: | Klein, Ursula |
| Abstract: | Book Review of “ Scientific History: Experiments in History and Politics from the Bolshevik Revolution to the End of the Cold War” by Elena Aronova |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:bcp85&r= |
| By: | Martin, Elliot; Yassine, Ziad; Cohen, Adam; Shaheen, Susan |
| Abstract: | This report evaluates the Valley Metro Mobility Platform project, part of the Federal Transit Administration (FTA) Mobility on Demand (MOD) Sandbox program. Valley Metro currently provides a Valley Metro Ridekick mobile application for its users that features trip planning for light rail and buses. The Mobility Platform project aimed to develop new trip planning features and an integrated payment system for public and private transportation in an updated pilot app called Pass2Go, but integration with private transportation was not achieved and the app was discontinued, eventually to be replaced by another app. The evaluation of the project explored its effect on user travel and planning times, accessibility, and connectivity to different modes of transportation. Overall, the results showed that the Pass2Go app was an enhancement over the existing Ridekick app. The evaluation supported hypotheses that wait and planning times were reduced, planning methods were improved, and that the platform enhanced accessibility and connectivity to different transportation options. Also, the project provided a platform for other public transportation agencies to exchange travel information and produced lessons learned. Most hypotheses within this evaluation were supported and, overall, the project was found to perform very well. |
| Keywords: | Engineering, Mobility on Demand, MOD, sandbox, shared mobility, Mobility as a Service, MaaS, independent evaluation, mobility platform, Valley Metro, transit |
| Date: | 2020–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt62x1m97p&r= |
| By: | Elise Petit; Bruno Van Pottelsberghe; Lluís Gimeno Fabra |
| Abstract: | This paper evaluates whether and to what extent patent offices can substitute for each other. Based on an original dataset comprising 7.200 PCT patents filed simultaneously in Japan, the USA and Europe, the empirical analysis confirms that the degree of substitution is significant. Patent offices search up to 37% less technology classes, generate up to 33% less citations, and send up to 43% less communications when a PCT application was previously processed by another office. They also rely more on international citations and provide more information in the early stage of the examination process. Further substitution may still be leveraged, as around 55% of technology classes searched and up to 70% of backward citations are duplicates -voluntarily or not - of prior examination work. |
| Keywords: | Patent systems, TRIPs, national bias, examination, international comparison |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:ict:wpaper:2013/330845&r= |
| By: | Marouzi, Soroush |
| Abstract: | This paper is an attempt to historicize Frank Plumpton Ramsey’s Apostle talks delivered from 1923 to 1925 within the social and political context of the time. In his talks, Ramsey discusses socialism, psychoanalysis, and feminism. Ramsey’s views on these three intellectual movements were inter-connected, and they all contributed to his take on the then policy debates on the role of women in economy. Drawing on some archival materials, biographical facts, and the historiographical literature on the early inter-war politics of motherhood, I show that Ramsey held a positive view of the feminist campaign for family endowment. He demanded government financial support for motherhood in recognition of the economic significance of women’s domestic works and as what could bring economic independence to them. In addition, he found such economic scheme compatible with the kind of maternalism endorsed by Freudian psychoanalysis – his favorite theory of psychology. |
| Date: | 2021–08–23 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:yx3dp&r= |
| By: | Schilirò, Daniele; Young, Warren |
| Abstract: | This paper analyzes the Econometric Society European Meetings (ESEMs) over the period 1931-39, highlighting the research programs produced by the meetings to show the influence that these meetings had on economics in that period and thereafter. The examination of the European Meetings in the 1930s highlights the range of topics discussed in these meetings, connections with ideas of the past economists such as Cournot, Pareto, and Walras among others, and the interest in relevant social and economic issues that characterized the decade. Also, the paper points to the emphasis placed on the quantitative approach to economic analysis taken by the European members of the Econometric Society, and their efforts to establish new lines of research accordingly. |
| Keywords: | Econometric Society; European meetings 1931-1939; quantitative approach; new lines of research |
| JEL: | B20 B23 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109270&r= |
| By: | Ruiz-Tagle, Cristobal; Schueftan, Alejandra |
| Abstract: | Air pollution from wood burning is a serious problem in the developing world. In the cities of south-central Chile, households experience extremely high ambient air pollution levels due to massive combustion of wood as fuel for residential heating. To address this problem, in recent years new residential wood stoves—equipped with improved combustion technologies that are designed to be less-polluting—have replaced high-polluting ones. However, users’ behaviour in operating these improved stoves is a key factor that drives actual emissions. When users ‘choke the damper’ to extend the burning time of their wood fuel, it constrains the air flow in the wood stoves and creates a highly polluting combustion process. To address this issue, a behavioural intervention was designed to provide users with real-time feedback on their wood stoves’ air pollution emissions with the goal of ‘nudging’ them to use their stoves in a less polluting way. The intervention consists of an information sign that aligns with the wood stove’s damper lever and informs users about pollution emission levels according to the chosen setting of the wood stove’s damper. The information sign is complemented by the visit of a field assistant that explains the sign and provides an informational flyer (fridge magnet). To assess the effectiveness of this behavioural intervention a randomized controlled trial was conducted with selected households in the city of Valdivia, Chile. Results from this intervention show that households that were provided with the information sign reduced the frequency with which they used the most polluting settings of their stoves, inducing a behavioural change that results in a 10.8% reduction in residential pollution emissions. |
| Keywords: | air pollution; behavioural intervention; environment and development; field experiment; wood stoves; Springer deal |
| JEL: | C93 D90 O13 Q53 Q56 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111527&r= |
| By: | Christl, Michael; De Poli, Silvia; Kucsera, Dénes; Lorenz, Hanno |
| Abstract: | This paper analyzes the impact of the COVID-19 crisis on household income in Austria, using detailed administrative labor market data, in combination with micro-simulation techniques, that enable specific labor market transitions to be modeled. We find that discretionary fiscal policy measures in Austria are key to counteracting the inequality- and poverty-enhancing effect of COVID-19. Additionally, we find that females tend to experience a greater loss in terms of market income. The Austrian tax-benefit system, however, reduces this gender differences. Disposable income has dropped by around 1% for both males and females. By comparison, males profit mainly from short-time work scheme, while females profit especially from other discretionary policy measures, such as the one-off payment for children. |
| Keywords: | COVID-19,EUROMOD,micro-simulation,STW,automatic stabilizers |
| JEL: | D31 E24 H24 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:917&r= |
| By: | Lahiani, Amine; Mefteh-Wali, Salma; Shahbaz, Muhammad; Vo, Xuan Vinh |
| Abstract: | In order to achieve the goal of carbon neutrality, as defined in the Paris climate agreement, the United States, the second-largest greenhouse gas emitter, must intensify its use of zero-carbon sources such as renewable energy. In this paper, we use the nonlinear autoregressive distributed lags (NARDL) model to investigate the influence of financial development on renewable energy consumption in the U.S. from 1975Q1 to 2019Q4. More precisely, three measures of financial development are considered: the overall financial development, bank-based financial development, and stock-based financial development indices. The model is augmented to control for the effects of real oil prices, real GDP, and trade openness. The empirical results show evidence of a long-run asymmetric effect of overall and stock-based financial development measures. Positive and negative changes in financial development measures dictate renewable energy consumption. In the short run, only negative changes of overall and stock-based financial development measures significantly impact renewable energy consumption. The latter impact is contemporaneously positive and negative at the one-lagged period. Renewable energy consumption does not react to a short-run change in bank-based financial development. Our empirical findings possess important policy implications. |
| Keywords: | Financial Development, Renewable Energy Consumption, USA |
| JEL: | Q4 |
| Date: | 2021–08–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109446&r= |
| By: | Niño-Zarazúa, Miguel; Santillán Hernández, Alma |
| Abstract: | In this paper, we present evidence that indicates that democratization has had a positive and significant effect on the current expansion of social transfers in low- and middle income countries. Overall, we find that electoral democracies seem to have favoured the expansion of conditional cash transfer (CCTs) programmes and social pensions, whereas autocracies and infant electoral democracies seem to have favoured pure cash transfers and public works, which are, on average, smaller in scale and more prone to political clientelism. Our findings also show that consumption taxes, and natural resource rents in particular, have contributed to the expansion of social transfers over the past two decades, although at the cost of delaying tax reforms that are necessary to guarantee the survival of welfare benefits. The current tax structure has also exposed net resource-exporting countries to the vagaries of commodity markets and reduced the fiscal space that these countries enjoyed just a decade ago. The policy implications of our findings are threefold: first, a strong technical approach to the formulation of social transfers is clearly desirable to maximize the poverty-reducing and welfare-enhancing effects of these programmes. However, a narrow focus on technical considerations can miss out wider implications of certain policy choices, especially in contexts characterized by electoral autocratic regimes. Second, state capabilities matter for an effective distribution of welfare benefits. However, without strong institutional settings and effective checks and balances, pro-poor redistribution can be subject to the capture of opportunistic clientelistic regimes. Third, any effort to expand social protection systems without parallel reforms to tax systems risks the long-term sustainability of transfer programmes. However, attempts to introduce more progressive forms of taxation would be destinated to fail without a good understanding of the strength and upfront position of elites. |
| Keywords: | social protection, political economy, democratization, developing countries |
| JEL: | I30 I38 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109213&r= |
| By: | Sarah Ottavi (EPSYLON - Dynamique des capacités humaines et des conduites de santé - UPVM - Université Paul-Valéry - Montpellier 3); Sébastien Roussel (CEE-M - Centre d'Economie de l'Environnement - Montpellier - UMR 5211 - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Arielle Syssau (EPSYLON - Dynamique des capacités humaines et des conduites de santé - UPVM - Université Paul-Valéry - Montpellier 3) |
| Abstract: | In this paper,the authors provide a data report that describes an original dataset named French Affective Images of Climate Change (FAICC) database. The main objective is to provide tools for CC assessment. Images are rated by a sample of non-experts according to three variables: relevance to CC, arousal, and emotional valence. The database provides for each image an identification number, the mean rating and standard deviation of ratings for relevance, arousal and valence, respectively. |
| Keywords: | climate change,emotion,French version,image database,valence,arousal,relevance ratings |
| Date: | 2021–08–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03325423&r= |
| By: | Arup Barua (South-Eastern Finland University of Applied Sciences, Finland); Alexandra Ioanid (University Politehnica of Bucharest, Romania) |
| Abstract: | The Resource-based View (RBV) and Industrial Organization (IO) theory have successfully clarified the competitive advantage for a single firm based on resources and market aspects but less so for knowing the competitive advantage for dual entities or companies. Therefore, this article attempts to investigate how a competitive advantage emerges in post-M&A. It illustrates that both theories together should contemplate the "synergistic competitive advantage" as a measurement of M&A performance, which explains the competitive advantage by the acquisition synergies, e.g., joint sales, expertise, revenue, and cost. The modern thought will widen the joint appeal of RBV and IO theory considering the SCP model because the synergy (i.e., a combined effect of two entities) should be a competitive, and competitive advantage should be synergistic for acquisition success. Future researchers are entreated to test the synergistic competitive advantage in post-M&A, evading the traditional competitive advantage. Decisively the implications and directions of future research would be illuminated. |
| Keywords: | RBV (Resource-based View), IO (Industrial Organization), SCP (Structure, Conduct, Performance), SCA (Synergistic Competitive Advantage), M&As (Mergers and Acquisitions) |
| JEL: | G34 M16 O19 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:sko:wpaper:bep-2021-06&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | Using a generalization of the Becker's time allocation model to estimate the shadow price of time, the article proposes to evaluate the component of home production which could be substituted by market goods and services. An enlarged households' total expenditure including the production of the informal sector and the value of domestic production and the corresponding enlarged GDP are compared to their monetary counterparts in five developed and underdeveloped countries. Domestic production substituable to market goods corresponds to 23 to 41% of the GDP in Canada, France, Poland and the US, but much less in Burkina Faso because of much lower opportunity cost of time and elasticities of substitution. Finally, the enlarged GDP including the informal sector is larger by 40% than the official GDP in the three developed countries, 34% in Poland and by 54% in Burkina Faso. |
| Keywords: | Domestic production,Time allocation,GDP,Opportunity cost of time |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03325362&r= |
| By: | Partha Pratim Dube (Garalgacha Surabala Vidyamandir, West Bengal, India, 712708) |
| Abstract: | This paper considers the prospects for constructing a model of TFP of investment, technological progress and growth of the technological share in TFP that determines the nature of economic growth. Two models are considered: a model emphasising investment, technological progress and its impact on TFP and a model emphasising a relation of investment, TFP and growth of technological share in TFP through the experience process. The claims in mode 1 and model 2 presented here differ from those in most standard economic literature: the relation between investment and TFP is considered, the relation between technological efficiency and technological progress is established and their effect on TFP is shown. A quotient between technological progress and investment is constructed that hampers the growth of technological progress. This gives a caution to the financial institutions about the enhancement of the quotient. |
| Keywords: | Total Factor Productivity; Investment; Technological Progress; India; Technological Efficiency; Growth |
| JEL: | B22 D22 D24 O32 O43 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:sko:wpaper:bep-2021-05&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | Using a generalization of the Becker's time allocation model to estimate the shadow price of time, the article proposes to evaluate the component of home production which could be substituted by market goods and services. An enlarged households' total expenditure including the production of the informal sector and the value of domestic production and the corresponding enlarged GDP are compared to their monetary counterparts in five developed and underdeveloped countries. Domestic production substituable to market goods corresponds to 23 to 41% of the GDP in Canada, France, Poland and the US, but much less in Burkina Faso because of much lower opportunity cost of time and elasticities of substitution. Finally, the enlarged GDP including the informal sector is larger by 40% than the official GDP in the three developed countries, 34% in Poland and by 54% in Burkina Faso. |
| Keywords: | Domestic production,Time allocation,GDP,Opportunity cost of time |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-03325362&r= |
| By: | Michael M. Batty; Ella Deeken; Alice Henriques Volz |
| Abstract: | A wide range of economic activity has been severely disrupted by the COVID-19 pandemic, while others have been remarkably resilient throughout the restrictions placed on our physical interactions. The unique pattern of income losses, spending reductions and substitutions, and government relief raise many questions about how different groups fared economically over the last year. |
| Date: | 2021–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgfn:2021-08-30-2&r= |
| By: | Busch, Pascal; Cappelletti, Giuseppe; Marincas, Vlad; Meller, Barbara; Wildmann, Nadya |
| Abstract: | The Basel Committee on Banking Supervision (BCBS) framework used to identify global systemically important banks (G-SIBs) is based on banks’ balance sheet information, leaving information derived from market data untapped. Among the most widely used market-based systemic risk measures, Adrian and Brunnermeier’s (2016) Delta-Conditional Value at Risk (ΔCoVaR) best captures the system-wide loss-given-default (sLGD) and conditional impact concepts underlying the BCBS GSIB methodology. In this paper we investigate, using a global sample of the largest banks, whether a score based on ΔCoVaR could be useful for ranking G-SIBs or for calibrating an alternative G-SIB indicator weighting scheme. In our first analysis we find that the ΔCoVaR score is positively correlated with all five of the systemic importance categories of the BCBS framework. However, considerable information/noise with regard to the ΔCoVaR score remains unexplained. Before more is known about this residual, a score based on ΔCoVaR is difficult to interpret and is inappropriate for identifying G-SIBs in a policy context. Besides, we find that a ranking based on ΔCoVaR is subject to substantial variability over time and across empirical specifications. In our second analysis we use ΔCoVaR to place the current static weighting scheme for G-SIB indicators on an empirical footing. To do this we regress ΔCoVaR on factors derived from the G-SIB indicators. This approach allows us to focus on the part of ΔCoVaR which can be explained by balance sheet information which alleviates the identified issues of interpretability and variability. The derived weights are highest for the cross-jurisdictional activity (43%) and size (27%) categories. We conclude that ΔCoVaR is not suitable for use as an alternative G-SIB score but could be useful for policymakers to pursue an empirically grounded weighting scheme for the existing G-SIB indicators. JEL Classification: G20, G21, G28 |
| Keywords: | bank regulation, global systemically important banks, systemic risk measures |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbops:2021260&r= |
| By: | Marlen Gabriele Arnold (Chemnitz University of Technology, Faculty of Economics and Business Administration, Corporate Environmental Management and Sustainability); Alina Vogel |
| Abstract: | The global COVID-19 pandemic does not only focus on health and social issues, but the topic of digitalization as well. Universities have to (re)act very fast and demonstrate their adaptability: Within shortest time, the university life was reduced to a minimum. Simultaneously, the courses were transferred into digital formats. The following questions were surveyed by this questionnaire at the Chemnitz University of Technology between mid-July and the end of September 2020: How was this transformation done, by which advantages and disadvantages were they accompanied, how sustainable are these processes and how the future of higher education can look like. The survey addressed both university staff and students. Approximately 370 complete responses were analysed qualitatively and with the help of descriptive statistics. The results show a high degree of diversity in terms of behaviours and responses to pandemic digital teaching and learning. Digital teaching and working as well as learning from home offer multiple benefits and at the same time challenges - as does learning and working at the university campus. On the one hand, working and learning from home is perceived as enriching and overwhelming on the other - and this does not only differ from person to person, but also simultaneously within an individual. The flexibility associated with digital teaching is appreciated - at the same time, digital teaching is linked with a great deal of self-organization and few social contacts, which is perceived by some students as excessive demands. There are striking gaps in knowledge and action when it comes to linking sustainability and digitization. The results also reveal aspects for the further development of digital teaching. |
| Keywords: | Digitization, Teaching, Sustainability, Pandemic, Survey |
| JEL: | I M Q |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:tch:wpaper:cep048&r= |
| By: | Drydakis, Nick |
| Abstract: | In Greece, given the precarious nature of the sex work industry, sex workers health and wellbeing is of concern. However, relevant research remains limited. This study examined whether sex workers' self-reported physical and mental health deteriorated across time points during the economic recession in Athens, Greece. The study focused on 13 areas where off-street and street-based sex work occured. Cross-sectional data was collected from the same areas in 2009 (i.e. before the economic recession began) and in 2013 and 2019 (i.e. at time points during the recession). Self-reported physical and mental health decreased in 2013 and in 2019 compared to 2009. A positive association was found between the country's gross domestic product and sex workers' self-reported physical and mental health. The opposite was found for annual aggregate unemployment. The determinants of better self-reported physical and mental health were sex workers' economic condition, Greek nationality, off-street sex work, and registered sex work status. The opposite was found for more years' involvement in sex work and drug consumption. Findings indicate the need for more inclusive health strategies, especially during periods of economic downturn when sex workers' physical/mental health is likely to decline. This is the first study to investigate the association between economic recession and sex workers' self-reported physical and mental health. |
| Keywords: | sex work,physical health,mental health,economic recession,drug consumption |
| JEL: | J81 G01 I10 I12 I18 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:924&r= |
| By: | Ayesh, Abubakr; Nakasone, Eduardo |
| Keywords: | Labor and Human Capital, International Development, Institutional and Behavioral Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:312663&r= |
| By: | Damle, Devendra (National Institute of Public Finance and Policy); Gulati, Karan (National Institute of Public Finance and Policy) |
| Abstract: | There are three common conjectures regarding land and property related litigation in India. First, it forms a large proportion of the caseload of Indian courts. Second, the quality of property records is to blame for the large volume and length of the litigation. Third, the caseload is compounded due to the complexity created by the multitude of laws that govern land and property. Additionally, the government is thought to be the largest litigant. This paper presents a novel data-set of case-level data from the Delhi High Court to test these conjectures. It answers important questions regarding the volume and typologies of such disputes, and the typologies of litigants. At the Delhi High Court, land and property disputes constitute 17% of the litigation. In these cases, the largest proportion of litigation is between private parties. The Union government is the petitioner (or appellant) in 2% of such litigation but is the respondent in more than 18% of cases. Tenancy and land acquisition matters are the most common types of litigation. Lastly, approximately 14% of property litigation originates from and is related to property records. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:npf:wpaper:21/349&r= |
| By: | Yves Cinotti (ESPE Toulouse - École supérieure du professorat et de l'éducation - Toulouse Midi-Pyrénées - UT2J - Université Toulouse - Jean Jaurès) |
| Abstract: | Since 1918, the hotel industry has undergone many upheavals: the sector has become industrialised, and many hotel jobs have disappeared due to changes in customer expectations and the use of information technology. This study shows how, from the end of the Great War until 2018, the teaching of hotel techniques, practiced by the employees of the reception, the lobby and the floors of a hotel, has adapted. The teaching of hospitality was very "technological", with the practical work of reception and room maintenance taking the form of training periods in hotels or in the hotel application school. But since 1980, this teaching addressed the commercial dimension of the professions and the quality approach. |
| Abstract: | L'hôtellerie a connu depuis 1918 de nombreux bouleversements : le secteur s'est industrialisé, de nombreux métiers hôteliers ont disparu du fait de l'évolution des attentes de la clientèle et du recours à l'outil informatique. Cette étude montre comment, à partir de la fin de la Grande Guerre et jusqu'en 2018, l'enseignement des techniques hôtelières, pratiquées par les employés de la réception, du hall et des étages d'un hôtel, s'est adapté. L'enseignement de l'hébergement fut très « technologique », les travaux pratiques de réception et d'entretien des chambres prenant la forme de périodes de formation en entreprise ou dans l'hôtel d'application de l'école hôtelière. Mais depuis 1980, cet enseignement a pris en compte la dimension commerciale des métiers et les démarches qualité. |
| Keywords: | hospitality techniques,accommodation,hotel history,hospitality teaching,techniques hôtelières,hébergement,histoire de l'hôtellerie,Enseignement hôtelier |
| Date: | 2021–03–19 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03323754&r= |
| By: | Andersson, Fredrik W. (Statistics Sweden and Örebro University); Jordahl, Henrik (Örebro University); Kärnä, Anders (Research Institute of Industrial Economics (IFN)) |
| Abstract: | Organizations, both non-profit and for-profit, needs to allocate labor for both production as well as internal administration. If this allocation is skewed towards internal administration, organizations, and especially non-profit organizations, might develop sclerosis over time with too much labor allocated to internal administration compared to production. Using detailed registry data on all individuals working at Swedish universities and colleges, we document a rapid increase in the number of qualified administrators, both in the number of employees and in total wages paid for these. This increase is not present in less qualified administration, and is mainly driven by an increase by a few professions such as communication and human resources. The increase does not lead to a significant reduction, or increase, in the time that researchers and teachers spend on administration. This in turn suggests that Swedish higher education over-allocates resources to high-skilled administration. |
| Keywords: | Organization theory; Sclerosis; Productivity Growth; Bureaucracy; Higher education |
| JEL: | L25 P16 |
| Date: | 2021–08–19 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1399&r= |
| By: | Hu, Yingyao (Johns Hopkins University, Department of Economics) |
| Abstract: | This paper presents a novel self-report approach to identify a general causal model with an unobserved covariate, which can be unobserved heterogeneity or an unobserved choice variable. It shows that a carefully designed noninvasive survey procedure can provide enough information to identify the complete causal model through the joint distribution of the observables and the unobservable. The global nonparametric point identification results provide sufficient conditions under which the joint distribution of four observables, two in a causal model and two from surveys, uniquely determines the joint distribution of the unobservable in the causal model and the four observables. The identification of such a joint distribution including the unobserved covariate implies that the complete causal model is identified. |
| Keywords: | Causal model, Measurement error model, Nonparametric identification |
| JEL: | C01 C14 |
| Date: | 2021–08–18 |
| URL: | http://d.repec.org/n?u=RePEc:jhu:papers:64330&r= |
| By: | Victor Gay (IAST - Institute for Advanced Study in Toulouse , TSE - Toulouse School of Economics - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | This article describes a comprehensive geographic information system of Third-Republic France: the TRF-GIS. It provides annual nomenclatures and shapefiles of administrative constituencies of metropolitan France from 1870 to 1940, encompassing general administrative constituencies (départements, arrondissements, cantons) as well as the most significant special administrative constituencies: military, judicial and penitentiary, electoral, academic, labor inspection, and ecclesiastical constituencies. It further proposes annual nomenclatures at the contemporaneous commune level that map each municipality into its corresponding administrative framework along with its population count. The 901 nomenclatures, 830 shapefiles, and complete reproduction material along with primary sources of the TRF-GIS database are available at https://dataverse.harvard.edu/dataverse/ TRF-GIS. |
| Keywords: | Third Republic,France,Toponymy,GIS,HGIS,Administrative boundaries,Nomenclature,SIG,SIGH,Limites administratives,Toponymie,Troisième République |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02951461&r= |
| By: | Luca Fontanelli (Université Côte d'Azur; GREDEG CNRS); Mattia Guerini (University of Brescia; GREDEG, CNRS, Université Côte d’Azur, France; bInstitute of Economics, Scuola Superiore Sant’Anna, Italy); Mauro Napoletano (Université Côte d'Azur; GREDEG CNRS; OFCE Sciences-Po; SKEMA Business School) |
| Abstract: | We build a simple dynamic model to study the effects of technological learning, market selection and international competition in the determination of export ows and market shares. The model features two countries populated by firms with heterogeneous productivity levels and sales. Market selection in each country is driven by a finite pairwise Pólya urn process. We show that market selection leads either to a national or to an international monopoly in presence of a static distribution of firm productivity levels. We then incorporate firm learning and entry-exit in the model and we show that the market structure does not converge to a monopoly. In addition, we show that the extended model is able to jointly reproduce a wide ensemble of stylized facts concerning intra-industry trade, industry and firm dynamics. |
| Keywords: | International trade, industrial dynamics, firm dynamics, market selection, Pólya urn |
| JEL: | C15 F1 L1 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2021-33&r= |
| By: | Dean Spears (University of Texas at Austin - USA, Indian Statistical Institute Delhi Centre - India, IZA - Germany, IFFS - Sweden); Stéphane Zuber (Centre d'Economie de la Sorbonne, Paris School of Economics) |
| Abstract: | Utilitarianism is the most prominent family of social welfare functions. We present three new axiomatic characterizations of utilitarian (that is, additively separable) social welfare functions in a setting where there is risk over both population size and the welfares of individuals. First, we show that, given uncontroversial basic axioms, Blackorby et al.'s (1998) Expected Critical-Level Generalized Utilitarianism (ECLGU) is equivalent to a new axiom holding that it is better to allocate higher utility-conditional-on-existence to possible people who have a higher probability of existence. The other two novel characterizations extend classic axiomatizations of utilitarianism from settings with either social risk or variable-population, considered alone. By considering both social risk and variable population together, we clarify the fundamental normative considerations underlying utilitarian policy evaluation |
| Keywords: | Social risk; population ethics; utilitarianism; expected critical-level generalized utilitarianism; prioritarianism |
| JEL: | D63 D81 J10 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:21017&r= |
| By: | Sunghun Lim |
| Abstract: | Since the mid-1900s, agricultural global value chains (AGVCs) have grown rapidly and transformed the nature of agri-food production around the world. Little is known, however, about how participation in AGVCs changes the structure of participating economies. Using a constructed panel dataset from 155 countries for the period 1991-2015, I find that, in response to high AGVC participation, both GDP and employment shares in the agricultural and services sectors increase, and that both factors decrease in the manufacturing sector. Counter to conventional wisdom about structural transformation, I uncover evidence that modern agrarian economies are leapfrogging the manufacturing sector to directly develop their agriculture and services sectors through their participation in AGVCs. |
| JEL: | F14 F63 O13 Q17 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29194&r= |
| By: | Suarez, Javier |
| Keywords: | growth-at-risk, macroprudential policy, policy stance, quantile regressions |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:srk:srkops:20210&r= |
| By: | Lambert, Thomas |
| Abstract: | Investment in capital, new technology, and agricultural techniques has not been considered an endeavor worthwhile in a medieval economy because of a lack of strong property rights and no incentive on the part of lords and barons to lend money to or grant rights to peasant farmers. Therefore, the medieval economy and standards of living at that time often have been characterized as non-dynamic and static due to insufficient investment in innovative techniques and technology. Paul Baran’s concept of the economic surplus is applied to investment patterns during the late medieval, mercantile, and early capitalist stages of economic growth in England and the UK. This paper uses Zhun Xu’s Baran Ratio concept to try to develop general trends to demonstrate and to reinforce other historical accounts of these times that a productive and sufficient level of public and private investment out of accumulated capital income, taxation, and rents does not have a real impact on economic per capita growth until around the 1600s in Britain. This would also be about the time of capitalism’s ascent as the dominant economic system in England. Even then, dramatic increases in investment and economic growth do not appear until the late 18th Century when investment more consistently becomes more than one hundred percent of the level of economic surplus and takes in government spending. The types of investment, threshold amounts of investment out of profits and rents along with government spending seem to matter when it comes to a growth path raising GDP per capita and national income per capita to higher levels. Although much of this knowledge perhaps is embodied in current historical accounts, the Baran Ratio nicely summarizes and illustrates the importance of levels of investment to economic growth. |
| Keywords: | Baran Ratio, Baran multiplier, capitalism, feudalism, Keynesian multiplier |
| JEL: | B51 E11 E12 N13 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109546&r= |
| By: | David Bartram |
| Abstract: | A recent contribution to research on age and well-being (Blanchflower 2021) found that the impact of age on happiness is "u-shaped" virtually everywhere: happiness declines towards middle age and subsequently rises, in almost all countries. This paper evaluates that finding for European countries, considering whether it is robust to alternative methodological approaches. The analysis here excludes control variables that are affected by age (noting that those variable are not themselves antecedents of age) and uses data from the entire adult age range (rather than using data only from respondents younger than 70). I also explore the relationship via models that do not impose a quadratic functional form. The paper shows that these alternate approaches do not lead us to perceive a u-shape "everywhere": u-shapes are evident for some countries, but for others the pattern is quite different. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2108.13671&r= |
| By: | Nizam, Ahmed Mehedi |
| Abstract: | With the rapid proliferation of mobile telephony and the establishment of an IT-enabled payment and settlement system, Bangladesh, nowadays, is experiencing a meteoric rise in the usage of mobile financial services (MFS). As more and more people are opting to use this service, a huge number of mobile accounts are opened every day and a substantial amount of money is deposited, withdrawn and transferred frequently through the mobile network. This ever-increasing amount of mobile money flowing through the network may have a sizeable impact on the overall money supply of the country. Thus far, no systematic study has been conducted to quantify the impact of the mobile money on the conventional money supply of Bangladesh. In this study, we attempt to quantify the contribution of mobile money on the money supply which is an important quantity-based anchor of monetary policy in Bangladesh. Apart from quantifying the impact of digital (mobile) money on the money supply, we also qualitatively discuss its implication on another price-based nominal anchor of monetary policy in Bangladesh, i.e., interest rate. Moreover, in recent times, the government of Bangladesh has capped market interest rate with an intent to boost up business activities and in doing so, it (the government) has irrevocably broken the money market equilibrium which may result into dead-weight loss according to economic theory. Here, we qualitatively argue that financial inclusion through MFS has the potential to substantially reduce market interest rate without any manual intervention by significantly adding to the money supply which is supposed to be resulted into a reduced interest rate as an eventual consequence. |
| Keywords: | Mobile financial services; Bangladesh; financial inclusion; money supply; money multiplier; monetary policy |
| JEL: | E51 E52 G21 G28 O11 O33 |
| Date: | 2021–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109552&r= |
| By: | Houda El Ferachi (UIT - Université Ibn Tofaïl); Hicham Bouchartat (UIC - Université Internationale de Casablanca) |
| Abstract: | This research aims to establish the link between the country of origin (made in) and the consumer buying behavior, through the exploration of pasta consumption in Morocco. The main objectives of this study are to determine the preferences of the Moroccan consumers (current and potential) regarding pasta products that are made in Morocco as opposed to the imported ones; to gage their perception of the Moroccan brands; and to identify the key purchasing factors of the "made in Morocco" pasta. Our methodological choice focused on the quantitative method known as a sample survey. The study was carried out on 105 individuals; 15 cities were represented with, however, dominance of the Rabat-Salé region, and a rich diversity in terms of family situations, ages, and socio-professional categories. The questionnaire was administered face to face in part and online for the remainder. It appears that Moroccans consume pasta of Moroccan origin more than pasta of foreign origin. This preference is not explained by ethnocentrism as one would expect and would not necessarily reflect the behavior of an engaged, economically responsible, or culturally attached citizen. It is explained by intrinsic determinants such as price, quality, and availability of Moroccan pasta. For these same reasons, the perception of Moroccan pasta is rather positive. This perception is upheld by the reputation of the Moroccan brands, in particular the brands Tria and Dari (2021). The results we have achieved are generally satisfactory, but slightly offend the findings of previous studies on the subject. |
| Abstract: | Cette recherche vise à établir le lien entre le pays d'origine (made in) et le comportement d'achat du consommateur, à travers l'exploration de la consommation de pâtes au Maroc. Les principaux objectifs de cette étude sont de déterminer les préférences des consommateurs marocains (actuels et potentiels) concernant les produits de pâtes qui sont fabriqués au Maroc par opposition aux produits importés ; mesurer la perception des marques marocaines ; et d'identifier les facteurs clés d'achat des pâtes « made in Morocco ». Notre choix méthodologique a porté sur la méthode quantitative dit enquête par sondage. L'étude a été réalisée auprès de 105 individus ; 15 villes ont été représentées avec toutefois une domination de la région Rabat-Salé, et une riche diversité en termes de situations familiales, d'âges, et de catégories socioprofessionnelles. Le questionnaire a été administré en face à face en partie et en ligne pour le reste. Il apparaît que les Marocains consomment plus de pâtes d'origine marocaine que de pâtes d'origine étrangère. Cette préférence ne s'explique pas par l'ethnocentrisme comme on pourrait s'y attendre et ne refléterait pas nécessairement le comportement d'un citoyen engagé, économiquement responsable ou culturellement attaché. Elle s'explique par des déterminants intrinsèques tels que le prix, la qualité et la disponibilité des pâtes marocaines. Pour ces mêmes raisons, la perception des pâtes marocaines est plutôt positive. Cette perception est confortée par la notoriété des marques marocaines, notamment les marques Tria et Dari (2021). Les résultats auxquels nous avons abouti sont satisfaisants dans l'ensemble, mais heurtent légèrement les trouvailles d'études précédentes sur le sujet. |
| Keywords: | Country of origin,Perception,Key Decision Factors,Made in Morocco,Pays d'origine,Facteurs de Décision Clés,Made in Maroc |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03324195&r= |
| By: | Judit Temesvary; Andrew Wei |
| Abstract: | We study how U.S. banks' exposure to the economic fallout due to governments' response to Covid-19 in foreign countries has affected their credit provision to borrowers in the United States. We combine a rarely accessed dataset on U.S. banks' cross-border exposure to borrowers in foreign countries with the most detailed regulatory ("credit registry") data that is available on their U.S.-based lending. We compare the change in the U.S. lending of banks that are more vs. less exposed to the pandemic abroad, during and after the onset of Covid-19 in 2020. We document strong spillover effects: U.S. banks with higher foreign exposures in badly "Covid-19-hit" regions cut their lending in the United States substantially more. This effect is particularly strong for longer-maturity loans and term loans and is robust to controlling for firms’ pandemic exposure. |
| Keywords: | Cross-border exposure; Bank lending; Bank capital; Bank balance sheet liquidity |
| JEL: | F34 F65 G15 G21 |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgfe:2021-56&r= |
| By: | De Grauwe, Paul |
| Abstract: | Inflation is on the rise again in the industrialised world. This has led to fears of a sustained surge in inflation. This article argues that while such fears may make sense in the US, they do not in the eurozone, where the monetary-fiscal policy mix has been much less expansionary than in the US. The fear expressed by some that the monetary overhang from the large injections of liquidity through quantitative easing might lead to inflation in the eurozone does not stand up to scrutiny either. The conclusion offers some observations on the monetary operating procedures in the ECB. It argues that in the future, when interest rates rise again, the ECB risks transferring all (and even more) of its profits to the banking system. This article proposes a way to avoid this unacceptable outcome. |
| JEL: | N0 F3 G3 |
| Date: | 2021–08–05 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111810&r= |
| By: | Martin, Elliot; Nichols, Aqshems; Cohen, Adam; Shaheen, Susan |
| Abstract: | This report documents the results of an independent evaluation of the Vermont Agency of Transportation’s (VTrans) OpenTripPlanner (OTP), called Go! Vermont, part of the Federal Transit Administration (FTA) Mobility on Demand (MOD) Sandbox Demonstration program. The project intended to serve as an alternative to other trip planners by including flexible transit options such as route deviation, dial-a-ride, and other demand-responsive alternatives and to analyze web traffic data to determine the level of user activity attracted by Go! Vermont since its launch. The evaluation compared the trip itineraries of Google Maps and the OTP and explored the inclusion of flexible transit options. Eight hypotheses were evaluated, and expert (stakeholder/project partner) interviews highlighted VTrans partnerships with employment services and vocational rehabilitation to leverage the trip planner for improving access to jobs, training, and healthcare for carless and carlite house-holds. Interviewees noted how the trip planner improved how telephone dispatchers and case workers provided transportation information. |
| Keywords: | Engineering, Mobility on Demand, MOD, sandbox, shared mobility, independent evaluation, transit trip planner, Open Trip Planner, VTrans, demand-responsive transit |
| Date: | 2021–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt34w88314&r= |
| By: | Jeehoon Han; Bruce D. Meyer; James X. Sullivan |
| Abstract: | We investigate how material well-being has changed over time for single mother headed families—the primary group affected by welfare reform and other policy changes of the 1990s. We focus on consumption as well as other indicators including components of consumption, measures of housing quality, and health insurance coverage. The results provide strong evidence that the material circumstances of single mothers improved in the decades following welfare reform. The consumption of the most disadvantaged single mother headed families—those with low consumption or low education—rose noticeably over time and at a faster rate than for those in comparison groups. |
| JEL: | D12 D31 I31 I32 I38 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29188&r= |
| By: | International Monetary Fund |
| Abstract: | A remote technical assistance (TA) mission was conducted by IMF’s Regional Technical Assistance Center for Southern Africa (AFS)1 during April 12–16, 2021 to assist Statistics Botswana (SB) in improving the quality of the national accounts statistics. Reliable national accounts are essential for informed economic policymaking by the authorities. It also provides the private sector, foreign investors, rating agencies, donors and the public in general with important inputs in their decision-making, while informing economic analysis and IMF surveillance. The System of National Accounts, 2008 (2008 SNA) recommends that the national accounts be rebased every five years. Rebasing requires comprehensive surveys and ideally, supply and use tables (SUTs) to support coherent checking of data. |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2021/185&r= |
| By: | Nathan Delacrétaz; Bruno Lanz; Amir Delju; Etienne Piguet |
| Abstract: | Rural regions are more exposed to rainfall shocks, notably through agriculture, and understanding how local population adapt to changes in the climate is an important policy challenge. In this paper we exploit longitudinal data for Turkish provinces from 2008 to 2018 together with precipitation records over more than 30 years to study how shocks to 12-month standard precipitation index (SPI) affect out-migration across rural, transitional and urban regions, and we document how these impacts are channeled through local income, agricultural GDP, and conflicts. Based on fixed effect regressions controlling for unobserved heterogeneity across provinces and over time, we find evidence that negative SPI shocks are associated with higher out-migration in rural provinces. We also show that the relationship is fully mediated by per capita GDP, whereas agricultural GDP and conflicts do not play a role. |
| Keywords: | out-migration; climate change; rainfall; urbanization; per capita income; agriculture; conflicts |
| JEL: | F22 O15 R23 Q54 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:irn:wpaper:21-06&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | Economic agents decide often under different price conditions (named endogenous prices), and moreover these individual price systems may depend on their previous choices. Such a situation appears for instance for consumers' choices under constraints which imply virtual costs or when non-monetary resources add to the monetary budget constraint. In case where no market exist which regulates these prices and make them converge toward a common price for all agents, observed differences appear between the social distribution of consumer expenditures and their change over time which are modelized here using Riemannian geometry. Observations in a cross-sectional survey are supposed to constitute a Riemannian surface (where each point is associated with a particular price system). Social differences are measured along the geodesics of the Riemannian surface, while changes over time correspond to movements along their tangent spaces (characterized by constant endogenous prices). The Riemannian curvature of the consumption space is thus estimated comparing the derivatives over the surface (corresponding to cross-section differences) to those of the tangent plane (corresponding to the time changes). The Riemannian curvature being shown to be non-null for the Polish consumers surveyed in a four years Polish panel, implies that usual econometric methods based on a unique metric over the (cross-sectional) consumption space are inadequate to estimate geodesics (corresponding to optimal choices) on the Riemannian surface. The curvature of the survey can be linked to changes in latent endogenous prices over the Riemannian surface, which are for instance full prices in a domestic production framework. Finally, the Riemannian structure is used to study the path dependency of consumers' choices. |
| Keywords: | spatial autocorrelation,Riemannian geometry,curvature,virtual price,full price,path dependency |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03325414&r= |
| By: | François Gardes (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UCO - Université Catholique de l'Ouest) |
| Abstract: | Economic agents decide often under different price conditions (named endogenous prices), and moreover these individual price systems may depend on their previous choices. Such a situation appears for instance for consumers' choices under constraints which imply virtual costs or when non-monetary resources add to the monetary budget constraint. In case where no market exist which regulates these prices and make them converge toward a common price for all agents, observed differences appear between the social distribution of consumer expenditures and their change over time which are modelized here using Riemannian geometry. Observations in a cross-sectional survey are supposed to constitute a Riemannian surface (where each point is associated with a particular price system). Social differences are measured along the geodesics of the Riemannian surface, while changes over time correspond to movements along their tangent spaces (characterized by constant endogenous prices). The Riemannian curvature of the consumption space is thus estimated comparing the derivatives over the surface (corresponding to cross-section differences) to those of the tangent plane (corresponding to the time changes). The Riemannian curvature being shown to be non-null for the Polish consumers surveyed in a four years Polish panel, implies that usual econometric methods based on a unique metric over the (cross-sectional) consumption space are inadequate to estimate geodesics (corresponding to optimal choices) on the Riemannian surface. The curvature of the survey can be linked to changes in latent endogenous prices over the Riemannian surface, which are for instance full prices in a domestic production framework. Finally, the Riemannian structure is used to study the path dependency of consumers' choices. |
| Keywords: | spatial autocorrelation,Riemannian geometry,curvature,virtual price,full price,path dependency |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-03325414&r= |
| By: | Azizjon Alimov (IESEG School of Management, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France) |
| Abstract: | This paper examines how variation in the supply of government debt affects corporate acquisition activity. Using data from 50 countries from 1991 to 2017, the paper finds that government debt issuance is strongly negatively associated with acquisition activity at the firm and aggregate levels. In response to increases in government borrowing, firms appear to make better quality deals. Importantly, these effects are stronger for cash-financed deals and for more creditworthy firms whose debt is closer substitute for government bonds. Collectively, these findings suggest that rising government debt leads to “real crowding out” by affecting firm ability to make large investments. |
| Keywords: | government debt, mergers and acquisitions |
| JEL: | E62 G34 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ies:wpaper:f202104&r= |
| By: | Barajas, Jesus |
| Abstract: | This study asks whether deficiencies in transportation are associated with disproportionate policing in Chicago using the case of cycling. I examine how the number of bicycle citations issued per street segment are influenced by the availability of bicycle facilities and street characteristics, controlling for crash incidence, police presence, and neighborhood characteristics. Tickets were issued 8 times more often per capita in majority Black tracts and 3 times more often in majority Latino tracts compared to majority white tracts. More tickets were issued on major streets, but up to 85% fewer were issued when those streets had bike facilities, which were less prevalent in Black and Latino neighborhoods. Tickets were not associated with bicycle injury-crashes and inversely associated with vehicle injury-crashes. Infrastructure inequities compound the effects of racially-biased policing in the context of transportation safety strategies. Remedies include the removal of traffic enforcement from safe systems strategies and equitable investment in cycling. |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:wszgv&r= |
| By: | Kristen Velyvis; Anthony D'Agostino |
| Abstract: | Millennium Challenge Corporation contracted Mathematica to conduct an independent evaluation of the Environmental and Natural Resource Management (ENRM) project. This presentation summarizes our interim findings from case studies of five of the grants based on data collected through the close of the compact, and for research questions on ENRM implementation, outcomes, and sustainability. |
| Keywords: | Malawi, hydroelectricity, natural resources, electricity, agriculture, MCC |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:20772226acf34c0d900be882ec2d7ec4&r= |
| By: | Antonio Bodini (University of Parma); Sara Chiussi (University of Parma); Michele Donati (University of Parma); Valentin Bellassen (CESAER - Centre d'Economie et de Sociologie Rurales Appliquées à l'Agriculture et aux Espaces Ruraux - AgroSup Dijon - Institut National Supérieur des Sciences Agronomiques, de l'Alimentation et de l'Environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Áron Török (Corvinus University of Budapest); Liesbeth Dries (WUR - Wageningen University and Research Centre); Dubravka Ćorić (Faculty of Economics [Zagreb] - University of Zagreb); Lisa Gauvrit (Ecozept - Partenaires INRAE); Efthimia Tsakiridou (Aristotle University of Thessaloniki); Edward Majewski (SGGW - Warsaw University of Life Sciences); Bojan Ristic (Faculty of Economics, University of Belgrade, Belgrade, Serbia); Zaklina Stojanovic (Faculty of Economics, University of Belgrade, Belgrade, Serbia); Jose Maria Gil Roig (CREDA - Centre for Agro-Food Economy & Development, UPC-IRTA, Castelldefels, Spain - UPC - Université polytechnique de Catalogne); Apichaya Lilavanichakul (KU - Kasetsart University); Nguyễn Quỳnh An (School of Economics, University of Economics Ho Chi Minh City, Ho Chi Minh City 700000, Vietnam); Filippo Arfini (University of Parma) |
| Abstract: | Abstract Water Footprint (WF, henceforth) is an indicator of water consumption and has taken ground to assess the impact of agricultural production processes over freshwater. The focus of this study was contrasting non-conventional, certified products with identical products obtained through conventional production schemes (REF, henceforth) using WF as a measure of their pressure on water resources. The aim was to the show whether products that are certified as Food Quality Schemes (FQS, henceforth) could also incorporate the lower impact on water among their quality features. To perform this comparison, we analysed 23 products selected among Organic, PDO and PGI as FQS, and their conventional counterparts. By restricting the domain of analysis to the on-farm phase of the production chain, we obtained that that no significant differences emerged between the FQS and REF products. However, if the impact is measured per unit area rather than per unit product, FQS showed a significant reduction in water demand. |
| Keywords: | agricultural production,crop water requirement,evapotranspiration,irrigation,yield,water footprint |
| Date: | 2021–05–13 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03267194&r= |
| By: | Power, Michael |
| Abstract: | This experimental essay constructs a conversation between systems thinking and financial reporting. First, general ideas of system and ecology are introduced and used to inform a review of three overlapping clusters of accounting research. Each of these clusters assumes and emphasises different system characteristics. Second, these characteristics are blended within the model of the financial reporting system as a risk cycle. Third, critical challenges in modelling the financial reporting system are considered, with a focus on the position of a financial reporting regulator. Finally, in a thought experiment, the perspective of a hypothetical non-executive director on the board of a regulator with system-wide responsibilities is adopted. The essay proposes some questions that such a director would expect a model of the financial reporting system would help to answer. In addressing the motivating question, ‘The financial reporting system – what is it?’, the essay focuses on the intellectual and methodological challenges of systems thinking in the financial reporting field. Borrowing from ecology, it is argued that any model of the financial reporting system must: be as simple as possible without being too simple; be dynamic and focused on relationships rather than static entities; and embrace risk and uncertainty to avoid ‘illusions of control’. |
| Keywords: | ecology; financial reporting; risk regulation; risk cycle; systems theory; systems thinking; Taylor & Francis deal |
| JEL: | M40 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:110220&r= |
| By: | Jeoffrey Dehez (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Sandrine Lyser (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Avec le retour des beaux jours et la levée des mesures sanitaires liées à la gestion de l'épidémie de la Covid-19, nous devrions être nombreux à retrouver le chemin des plages et du littoral, qui restent parmi les destinations de loisirs préférées des Français. D'autant que la plupart des études scientifiques s'accordent à dire que les risques de contamination à l'extérieur sont nettement moindres que dans les espaces fermés où nous évoluons au quotidien. Ces signaux positifs ne doivent toutefois pas nous conduire à totalement abaisser notre garde car, derrière ces aspirations bien légitimes, un autre sujet de santé publique se pose : la noyade. Selon l'Organisation mondiale de la santé, il s'agit de la troisième cause de mortalité accidentelle sur la planète. En France, la noyade est responsable d'un millier de décès par an, dont 40 % en milieu maritime. Se baigner dans un lac, une rivière, ou dans les vagues de l'océan est en effet très différent de la pratique de la natation en piscine. Dans ces milieux naturels, nous nous exposons, souvent sans le savoir, à des risques propres à leur nature même. Parmi ces dangers figurent les courants d'arrachement, trop souvent sous-estimés par les nageurs. |
| Keywords: | Baïne |
| Date: | 2021–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03326503&r= |
| By: | Michele Donati (University of Parma); Adam Wilkinson (Impment); Mario Veneziani (University of Parma); Federico Antonioli (University of Parma); Filippo Arfini (University of Parma); Antonio Bodini (University of Parma); Virginie Amilien (Akershus University College); Peter Csillag (Corvinus University of Budapest - Corvinus University of Budapest); Hugo Ferrer-Pérez (CREDA - Centre for Agro-Food Economy & Development, UPC-IRTA, Castelldefels, Spain - UPC - Université polytechnique de Catalogne); Alexandros Gkatsikos (Aristotle University of Thessaloniki); Lisa Gauvrit (Ecozept - Partenaires INRAE); Chema Gil (CREDA - Centre for Agro-Food Economy & Development, UPC-IRTA, Castelldefels, Spain - UPC - Université polytechnique de Catalogne); Việt Hoàng (School of Economics, University of Economics Ho Chi Minh City, Ho Chi Minh City 700000, Vietnam); Kamilla Knutsen Steinnes (OsloMet - Oslo Metropolitan University); Apichaya Lilavanichakul (KU - Kasetsart University); Konstadinos Mattas (Aristotle University of Thessaloniki); Orachos Napasintuwong (KU - Kasetsart University); An Nguyễn (School of Economics, University of Economics Ho Chi Minh City, Ho Chi Minh City 700000, Vietnam); Mai Nguyen (School of Economics, University of Economics Ho Chi Minh City, Ho Chi Minh City 700000, Vietnam); Ioannis Papadopoulos (Aristotle University of Thessaloniki); Bojan Ristic (Faculty of Economics, University of Belgrade, Belgrade, Serbia); Zaklina Stojanovic (Faculty of Economics, University of Belgrade, Belgrade, Serbia); Marina Tomić Maksan (Faculty of Economics [Zagreb] - University of Zagreb); Áron Török (Corvinus University of Budapest); Efthimia Tsakiridou (Aristotle University of Thessaloniki); Valentin Bellassen (CESAER - Centre d'Economie et de Sociologie Rurales Appliquées à l'Agriculture et aux Espaces Ruraux - AgroSup Dijon - Institut National Supérieur des Sciences Agronomiques, de l'Alimentation et de l'Environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Abstract We study the effect of a set of food quality scheme (FQS) products within the local economy using a local multiplier approach based on LM3 methodology. To evaluate the effective contribution within the local area, we compare each FQS product with its equivalent standard/conventional counterpart. Local multiplier allows us to track the financial flows converging within the local area at the different levels of the supply chain so that we can measure the FQS product role in local economic activation. Overall, the FQS products exhibit a higher positive contribution to the local economy than the standard references. However, there is significant heterogeneity in the impact according to the product categories. In the case of vegetal products, the local economic advantage due to FQS is 7% higher than the reference products, but the statistical tests reject the null hypothesis that the medians are significantly different from zero. On the contrary, animal products exhibit a larger contribution of FQS than the standard counterparts (+24%). The PGI products (+25%) produce the major effect, while PDO products show a median difference lower (+6%). The organic and non-organic products seem to be substantially equivalent in terms of contribution to the local economy, due to the similarity in the downstream processing phase. |
| Keywords: | Local multiplier,Food quality scheme,Economic spill-over,Local areas,Rural development |
| Date: | 2021–05–13 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03267437&r= |
| By: | Welter, Caroline; Cypriano, Luiz; Centurião, Daniel |
| Abstract: | This study sought to identify and analyze the evolution of Local Productive Arrangements (LPAs) in the sectors of extractive and manufacturing industry in the state of Paran´a, from 2006 to 2016. In the methodology, the normalized Concentration Index (nCI) and the Exploratory Spatial Data Analysis (ESDA), which consisted of the application of two statistical tests, the Global Moran’s I and the Local Moran’s I. With this methodological procedure it was possible to identify 57 industrial LPAs in the state of Paran´a in 23 economic sectors, with its greatest incidence in the Metropolitan Region of Curitiba and North Central. We conclude that there is a consolidation process with positive evolution of LPAs in the analyzed period, where the regions of Londrina and Curitiba and its surroundings stand out, as well as the activities of food and beverage production; textiles and clothing; wood and furniture; and the production of machinery, equipment, rubber, and plastics. |
| Keywords: | Productive Agglomerations, Exploratory Analysis of Spatial Data, Productive Specialization. |
| JEL: | R12 |
| Date: | 2021–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109222&r= |
| By: | Palma Filep-Mosberger (Magyar Nemzeti Bank (Central Bank of Hungary)); Attila Lindner (University College London, MTA KTI); Judit Rariga (Magyar Nemzeti Bank (Central Bank of Hungary)) |
| Abstract: | In this paper, we study firm-bank relationship formation. Combining domestic inter-firm network data from value-added tax declarations and credit registry for Hungary, we estimate the spillover effects in bank choice, identifying from variation on the bank level. Having at least one peer in the network who has an existing loan with a bank increases the probability that the firm will borrow a new loan from the same bank. We provide suggestive evidence that the estimated spillover effect is due to firm-to-firm information transmission about banks. According to our results, firms can learn about banking practices from their peers but they also point to financial stability concerns in the event of shocks to domestic supply chains. |
| Keywords: | bank choice, firm network, spillover effects. |
| JEL: | G30 L14 D22 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:mnb:wpaper:2021/1&r= |
| By: | Andrés F. Castro Torres (Max Planck Institute for Demographic Research, Rostock, Germany); Diego Alburez-Gutierrez (Max Planck Institute for Demographic Research, Rostock, Germany) |
| Keywords: | World |
| JEL: | J1 Z0 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:dem:wpaper:wp-2021-014&r= |
| By: | Bruno Jetin (CEPN - Centre d'Economie de l'Université Paris Nord - CNRS - Centre National de la Recherche Scientifique - USPC - Université Sorbonne Paris Cité - UP13 - Université Paris 13, IAS - Institute of Asian Studies, Universiti Brunei Darussalam) |
| Abstract: | This book chapter analyses the Belt and Road Initiative in Southeast Asia and Europe. It shows the attractiveness of the Chinese initiative for the host countries but also the political and economic challenges it involves: the sudden massive presence of Chinese companies, the new financial dependence on Chinese loans that will have to be paid back, and the political ties it establishes with China's diplomacy. This may destabilise both ASEAN and the EU, which are ill-prepared to defend a common attitude vis-à-vis China. Confronted with the creation of the "Cooperation between China and Central and Eastern European Countries" (China-CEE, China-CEEC) initiated in 2012, the EU struggled to maintain its unity like ASEAN before in the South China Sea conflict. The EU policy in Southeast Asia and towards ASEAN lacks ambition and means and is a poor alternative to China's BRI. We conclude that the EU must change its policy towards ASEAN and propose more than new free trade agreements |
| Abstract: | La stratégie chinoise des "nouvelles routes de la soie" (NRS) L'initiative des nouvelles routes de la soie 1 a été annoncée en septembre 2013 par le Président Xi Jinping au Kazakhstan, pour ce qui concerne les routes terrestres, et en octobre en Indonésie pour ce qui concerne les routes maritimes. Lors de son 19 ème congrès en 2017, le Parti communiste chinois l'a incluse dans sa charte constitutive en même temps que la « pensée » de Xi Jinping, pour en souligner l'importance pour la diplomatie chinoise pour ce 21 ème siècle. C'est un projet très ambitieux visant à renforcer les infrastructures de transport, d'énergie et de communication entre la Chine et 65 pays d'Asie, d'Afrique et d'Europe. Cette stratégie de long terme vise plusieurs objectifs. Premièrement, maintenir la prospérité de l'économie chinoise qui est entrée dans une phase durable de croissance plus modérée et dont les avantages compétitifs se modifient. L'avantage du faible coût salarial s'est érodé et pour garantir leurs débouchés extérieurs, les entreprises chinoises produisent de plus en plus à l'étranger. Deuxièmement, la Chine cherche à garantir la sécurité de ses importations, notamment en énergie et en matières premières, qui dépendent de manière excessive du détroit de Malacca, situé au coeur de l'Asie du sud-est. Troisièmement, la Chine poursuit des objectifs diplomatiques et géostratégiques. Comme d'autres grandes puissances par le passé, elle veut d'abord assurer sa prédominance dans sa région d'origine, l'Asie, à commencer par la mer de Chine du sud. Cela fait de l'Asie du sud-est, et de sa représentation politique, l'ASEAN, un enjeu déterminant. Cette volonté d'hégémonie implique que la Chine soit une puissance militaire de premier plan ce qui suppose des capacités de transport terrestre, maritime et aérien. En réalisant des investissements massifs dans les infrastructures, la Chine peut espérer atteindre l'ensemble de ces objectifs. La zone géographique concernée regroupe 75% du Produit Intérieur Brut du monde, 70% de la population mondiale et 75% des réserves connues en énergie 2 . |
| Keywords: | ASEAN,EU,Belt and Road Initiative,EU diplomatic policy,China diplomatic policy in Europe |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03321124&r= |
| By: | Mahmood, Haider; Tanveer, Muhamamd; Ahmad, Abdul-Rahim; Furqan, Maham |
| Abstract: | The rule of law and control of corruption would play an effective role in managing CO2 emissions in Pakistan. The present research has explored this issue in Pakistan controlling economic growth during 1996-2019. Further, the unit root and cointegration tests are used. We found the long and short-run relationships in the model. Economic growth has a positive effect on CO2 emissions. The rule of law could not impact in the long run and negatively impacts in the short run. Hence, improving law and order conditions would reduce CO2 emissions in the short run, and further improvements in the rule of law could have pleasant long-run environmental effects. The control of corruption has a positive impact on CO2 emissions in the long run. However, the short-run effects of control of corruption with first and second lags are found negative. |
| Keywords: | The rule of law, control of corruption, economic growth, CO2 emissions |
| JEL: | E2 E21 O43 |
| Date: | 2021–08–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109250&r= |
| By: | Elmar Zozmann; Mirjam Helena Eerma; Dylan Manning; Gro Lill {\O}kland; Citlali Rodriguez del Angel; Paul E. Seifert; Johanna Winkler; Alfredo Zamora Blaumann; Leonard G\"oke; Mario Kendziorski; Christian von Hirschhausen |
| Abstract: | The paper provides energy system-wide estimates of the effects sufficiency measures in different sectors can have on energy supply and system costs. In distinction to energy efficiency, we define sufficiency as behavioral changes to reduce useful energy without significantly reducing utility, for example by adjusting thermostats. By reducing demand, sufficiency measures are a potentially decisive but seldomly considered factor to support the transformation towards a decarbonized energy system. Therefore, this paper addresses the following question: What is the potential of sufficiency measures and what is their impacts on the supply side of a 100% renewable energy system? For this purpose, an extensive literature review is conducted to obtain estimates for the effects of different sufficiency measures on final energy demand in Germany. Afterwards, the impact of these measures on the supply side and system costs is quantified using a bottom-up planning model of a renewable energy system. Results indicate that final energy could be reduced by up to 20.5% and as a result cost reduction between 11.3% to 25.6% are conceivable. The greatest potential for sufficiency measures was identified in the heating sector. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.00453&r= |
| By: | Okko Outinen (Marine Research Centre, Finnish Environment Institute, Latokartanonkaari 11, 00790, Helsinki, Finland); Sarah Bailey (Great Lakes Laboratory for Fisheries and Aquatic Sciences, Fisheries and Oceans Canada, Burlington, ON, Canada); Katja Broeg (Bundesamt für Seeschifffahrt und Hydrographie, Bernhard-Nocht-Straße 78, 20359, Hamburg, Germany); Joël Chasse; Stacey Clarke; Rémi Daigle; Stephan Gollasch; Jenni Kakkonen; Maiju Lehtiniemi; Monika Normant-Saremba; Dawson Ogilvie; Frederique Viard (UMR ISEM - Institut des Sciences de l'Evolution de Montpellier - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EPHE - École pratique des hautes études - PSL - Université Paris sciences et lettres - UM - Université de Montpellier - Institut de recherche pour le développement [IRD] : UR226 - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The International Convention for the Control and Management of Ships' Ballast Water and Sediments (BWM Convention) aims to mitigate the introduction risk of harmful aquatic organisms and pathogens (HAOP) via ships' ballast water and sediments. The BWM Convention has set regulations for ships to utilise exceptions and exemptions from ballast water management under specific circumstances. This study evaluated local and regional case studies to provide clarity for situations, where ships could be excepted or exempted from ballast water management without risking recipient locations to new introductions of HAOP. Ships may be excepted from ballast water management if all ballasting operations are conducted in the same location (Regulation A-3.5 of the BWM Convention). The same location case study determined whether the entire Vuosaari harbour (Helsinki, Finland) should be considered as the same location based on salinity and composition of HAOP between the two harbour terminals. The Vuosaari harbour case study revealed mismatching occurrences of HAOP between the harbour terminals, supporting the recommendation that exceptions based on the same location concept should be limited to the smallest feasible areas within a harbour. The other case studies evaluated whether ballast water exemptions could be granted for ships using two existing risk assessment (RA) methods (Joint Harmonised Procedure [JHP] and Same Risk Area [SRA]), consistent with Regulation A-4 of the BWM Convention. The JHP method compares salinity and presence of target species (TS) between donor and recipient ports to indicate the introduction risk (high or low) attributed to transferring unmanaged ballast water. The SRA method uses a biophysical model to determine whether HAOP could naturally disperse between ports, regardless of their transportation in ballast water. The results of the JHP case study for the Baltic Sea and North-East Atlantic Ocean determined that over 97 % of shipping routes within these regions resulted in a high-risk indication. The one route assessed in the Gulf of Maine, North America also resulted in a high-risk outcome. The SRA assessment resulted in an overall weak connectivity between all ports assessed within the Gulf of the St. Lawrence, indicating that a SRA-based exemption would not be appropriate for the entire study area. In summary, exceptions and exemptions should not be considered as common alternatives for ballast water management. The availability of recent and detailed species occurrence data was considered the most important factor to conduct a successful and reliable RA. SRA models should include biological factors that influence larval dispersal and recruitment potential (e.g., pelagic larval duration, settlement period) to provide a more realistic estimation of natural dispersal. |
| Date: | 2021–05–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03321948&r= |
| By: | Robert Clark; Jean-François Houde; Jakub Kastl |
| Abstract: | This chapter discusses recent developments in the literature involving applications of industrial organization methods to finance. We structure our discussion around a simple model of a financial intermediary that concentrates its attention either on (i) the retail market and hence engages in a traditional maturity transformation business by accepting funds that can be used to invest in risky projects (loans), or (ii) the investment business, financing its operations on the “wholesale” market and making markets or investing in higher return riskier projects. Our discussion is centered around the analysis of market structure and competition in each of these markets, focusing in turn on (i) primary and secondary markets for government and corporate debt, (ii) interbank loans, (iii) markets for retail funding, and (iv) credit markets, including mortgages. |
| JEL: | G2 L1 L51 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29183&r= |
| By: | Stojcic, Nebojsa |
| Abstract: | The aim of this paper is to explore the impact of Covid-19 pandemic on changes in export competitiveness of firms from Croatian manufacturing industry. The analysis is based on the data about firm behaviour in period following first wave of Covid-19 pandemic. The data was collected by World Bank during August and September 2020 and publicly released in early October 2020. The results of investigation reveal that probability of decreasing export revenues falls among firms that solved their liquidity problems through equity financing, deferred payments to workers and suppliers and with the support of public grants. Statistically significant evidence of the tax exemptions, wage subsidies and commercial banks’ loans was not found. Companies with higher level of robustness to external shocks have lower probability of decreasing export revenues. The impact of introduction or implementation of online sales on export revenues is negative. Results of investigation may serve for formulation of economic policies in similar future cases. |
| Keywords: | Covid-19; manufacturing; Croatia; export |
| JEL: | F10 H84 I12 I15 L60 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109135&r= |
| By: | Rajapakshe, PSK; Gamage, SKN; Prasanna, RPIR; Jayasundara, JMSB; Ekanayake, EMS; Upulwehera, JMHM; Wijerathna, WAID; Abeyrathne, GAKNJ |
| Abstract: | The aim of this working paper is to explore the relationship between social capital and the performance of SMEs and articulate the ways of using the social capital as an instrument to address the performance of the SMEs in context of Covid-19 pandemic. Further, this review identifies the unexplored areas related to concepts ‒ social capital, SME performance, and Covid‒19 pandemic which will pave the way for further research in area focused. . The review and discussion on existing state of knowledge disclosed the key areas which create link between social capital and SME performance. First, the investigation of the impact of externalities on SMEs performance, especially the impact of COVID-19 pandemic, and how the social capital could assists to minimize the effect were divulged. Then, the way of allocating social capital to intensify the success of SMEs in the internationalization process was revealed. Accordingly, with the growing significance of the banking institutions during the pandemic period, investigating the banking relationship as an external social capital with the SMEs performance was recognized as one of the critical areas in the pandemic situation. Lastly, during the era of treating customers like the kings of the market, interaction among innovation, marketing capabilities, and social capital to facilitate the competitive performance of SMEs have been substantially addressed. Findings suggested that investigating the dynamic environmental changes of SMEs and social capital influence are vital to stimulate the sustainable competitive advantage of SME sector in the intensified economic competition. |
| Keywords: | Internationalization, Innovations, SMEs, Social capital, Sustainable competitive advantage |
| JEL: | L00 |
| Date: | 2020–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109530&r= |
| By: | Michael Keane (School of Economics); Timothy Neal (UNSW School of Economics) |
| Abstract: | There is a long standing controversy over the magnitude of the Frisch labor supply elasticity. Macro economists using DSGE models often calibrate it to be large, while numerous micro data studies estimate it is near zero. A large literature has emerged that attempts to reconcile the micro and macro results. We o ff er a new and simple explanation: Most micro studies estimate the Frisch using a 2SLS regression of hours changes on income changes. But the available instruments are typically "weak." In that case, it is an inherent property of 2SLS that estimates of the Frisch will (spuriously) appear more precise when they are more shifted in the direction of the OLS bias, which is negative. As a result, Frisch elasticities near zero will (spuriously) appear to be precisely estimated, while large estimates will appear to be very imprecise. This will naturally bias micro data studies toward concluding the Frisch is small. We show how the use of a weak instrument robust hypothesis test, the Anderson-Rubin test, leads us to conclude the Frisch elasticity is large and signiï¬ cant in the NLSY97 data. In contrast, a conventional 2SLS t-test would lead us to conclude it is not signiï¬ cantly greater then zero. |
| Keywords: | Frisch elasticity, labor supply, weak instruments, 2SLS, Anderson-Rubin test |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:swe:wpaper:2021-07&r= |
| By: | Hector Moreno (Paris School of Economics) |
| Abstract: | This paper examines the influence of parental and grandparental education in the transmission of human capital. A natural experimental set-up, from a regional conflict that occurred in 1926 is exploited to instrument years of schooling of the grandparents' generation whereas local labour market indicators at adolescence serve as an instrument for the education of the parents' generation. Using a nationally representative Mexican survey that gathers detailed information on three generations, the paper shows that accounting for endogeneity reveals significantly more inter-generational mobility rather than ignoring it. The paper also documents greater persistence of family background in the older pair of parent-child links, i.e. grandparent-parent, than in the younger pair, i.e. parent-grandchildren. Results show that the direct influence of parental education on the grandchildren's education is so dominant that the impact of grand-parental education fades away once accounting for parental education. |
| Keywords: | multigenerational, mobility, education, Mexico |
| JEL: | I21 I24 J62 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:inq:inqwps:ecineq2021-588&r= |
| By: | Carlos Gradín; Annalena Oppel |
| Abstract: | We revisit trends in within-country income inequality using a newly integrated dataset that covers at least 70 per cent of the global population since 1980. We investigate absolute and relative inequality trends across the past four decades, combining the use of Lorenz curves with a set of inequality measures to gain insights on countries without Lorenz dominance. |
| Keywords: | Income inequality, Database, WIID |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp-2021-139&r= |
| By: | Michael J. Roberts; Sisi Zhang; Eleanor Yuan; James Jones; Matthias Fripp |
| Abstract: | Growth of intermittent renewable energy and climate change make it increasingly difficult to manage electricity demand variability. Transmission and centralized storage technologies can help, but are costly. An alternative to centralized storage is to make better use of shiftable demand, but it is unclear how much shiftable demand exists. A significant share of electricity demand is used for cooling and heating, and low-cost technologies exists to shift these loads. With sufficient insulation, energy used for air conditioning and space heating can be stored in ice or hot water from hours to days. In this study, we combine regional hourly demand with fine-grained weather data across the United States to estimate temperature-sensitive demand, and how much demand variability can be reduced by shifting temperature-sensitive loads within each day, with and without improved transmission. We find that approximately three quarters of within-day demand variability can be eliminated by shifting only half of temperature-sensitive demand. The variability-reducing benefits of employing available shiftable demand complement those gained from improved interregional transmission, and greatly mitigate the challenge of serving higher peaks under climate change. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.00643&r= |
| By: | Khan, Haider; Szymanski-Burgos, Adam |
| Abstract: | COVID-19 impacts have exacerbated socioeconomic inequalities and the threat of hunger and absolute poverty for vulnerable populations globally. China, as the most important Southern engine of growth, is a complex case. In taking countervailing measures for economic recovery and public health protection, the Chinese case is interesting for several reasons. First, from a public health perspective, what was distinctive about the Chinese policy and what have been the consequences so far? Second, what economic policy measures have led to a V-shaped recovery? Finally, what is the further prognosis for the Chinese Economy for the next few years? Our analysis highlights the salience of considering development and the economic and social shocks of pandemics from a Socially Embedded Intersectional Approach (SEICA) perspective. Using an economy-wide modelling methodology, we are able to draw conclusions that may be relevant for the case of other economies in various stages of development, particularly those with sharply uneven development patterns and large rural populations. |
| Keywords: | Input-output; China; Development; Covid-19; Socially Embedded Intersectional Approach |
| JEL: | A10 O2 P0 R15 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109021&r= |
| By: | Katafuchi, Yuya |
| Abstract: | This study analyzes how the behavioral changes associated with novel coronavirus disease (COVID-19) have affected residential land prices. Under previous pandemics (e.g., Spanish flu and SARS), avoidance of real estate transactions accompanied by going-out behavior and contraction of the real economy have caused a decrease in residential land prices. On the other hand, under the COVID-19 pandemic, it has been reported that residential land prices were stable or increasing due to behavioral changes such as the promotion of work-from-home (WFH). In order to confirm this phenomenon, this study first constructs a yearly panel dataset of Japan with the average published land price at the prefectural level as the dependent variable and treatment variables based on policy interventions for COVID-19, or WFH implementation. Second, this study uses the dataset to examine the relationship between land prices and changes in these conditions before and after the pandemic using the difference-in-difference method. The results of the above empirical analysis suggest that residential land prices were higher in prefectures where policy interventions related to COVID-19 were more robust than in other prefectures and where WFH was promoted more. This result supports the upward trend in residential land prices during the COVID-19 pandemic in the prefectures where policy interventions on COVID-19, including requests for WFH, are more implemented and where WFH is more prevalent. |
| Keywords: | COVID-19, Land price, Work-from-home, Telework |
| JEL: | I12 I15 I18 R21 R30 |
| Date: | 2021–08–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109310&r= |
| By: | International Monetary Fund |
| Abstract: | Selected Issues |
| Keywords: | governance reform; output response; infrastructure response to governance; governance gap; governance Subindices; Infrastructure; Private investment; Public investment spending; Fiscal multipliers; Capital accumulation; Global |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2021/191&r= |
| By: | KERAMIDAS Kimon (European Commission - JRC); FOSSE Florian (European Commission - JRC); DIAZ VAZQUEZ Ana (European Commission - JRC); SCHADE Burkhard (European Commission - JRC); TCHUNG-MING Stephane (European Commission - JRC); WEITZEL Matthias (European Commission - JRC); VANDYCK Toon (European Commission - JRC); WOJTOWICZ Krzysztof (European Commission - JRC) |
| Abstract: | This edition of the Global Energy and Climate Outlook (GECO 2020) puts its focus on analysing the impact of the Covid-19 outbreak on the transport sector as a whole. The transport sector has suffered the greatest slump in mobility demand of the history during the lockdown period, while the oil price has plummeted. This report explores the impacts of transport activity trends that may persist in the future from the structural changes induced by the Covid-19 pandemic, as well as of policy initiatives that may be adopted as enabling measures for low-carbon transport. While greenhouse gas emissions in this “New Normal” differ significantly compared to previous projections, the emissions gap towards a 2°C pathway is closed only by some 29%, thereby stressing the need of more ambitious collective action to maintaining global temperature change to well below 2°C. |
| Keywords: | Global Energy system, Climate Change, Transport sector, Covid-19, Green House Gas emissions, post-Covid-19 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc123203&r= |
| By: | Serena Merrino |
| Abstract: | Wage inequality under inflation-targeting in South Africa |
| Date: | 2021–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:rbz:wpaper:11018&r= |
| By: | Scott Régifère Mouandat (Université Omar Bongo [Libreville, Gabon]) |
| Abstract: | Objective: The purpose of this paper is to verify the non-linearity between external debt and economic growth in Gabon. Method: Taking the period 2000-2019, our analysis is based on the Threshold Autoregressive (TAR) model of Hansen (1999). Results: The results show that the debt denominated in US dollars and that denominated in Euros stimulate economic growth in this country when they are respectively lower than the threshold of 52.31% and 34.76% of the GDP and become recessive on the activity beyond these thresholds. Originality/Relevance: The paper analyzes the non-linearity between external debt and economic growth in Gabon by distinguishing specifically between debt denominated in US dollars and in Euros. It then looks at the currency composition of such debt in the context of a small economy open to the outside world. Contribution: The results of the paper show that the government would benefit from favoring US dollar denominated debt as it gives more leeway in the debt strategy. |
| Abstract: | Objectif : L'objet de l'article est de vérifier la non linéarité entre la dette extérieure et la croissance économique au Gabon. Méthode : En prenant la période 2000-2019, notre analyse, s'est appuyée sur le modèle à changement de régime à transition brutale (Threshold Autoregressive, TAR) de Hansen (1999). Résultats : Les résultats montrent que la dette libellée en dollar US et celle libellée en euro stimulent la croissance économique dans ce pays lorsqu'ils sont respectivement inférieurs au seuil de 52,31% et 34,76% du PIB et deviennent récessifs sur l'activité au-delà de ces seuils. Originalité/pertinence : L'article analyse la non-linéarité entre la dette extérieure et la croissance économique au Gabon en distinguant spécifiquement la dette libellée en dollar US et en Euro. Il s'est alors intéressé à la composition en devise d'une telle dette dans le cadre d'une petite économie ouverte sur l'extérieure. Contribution : Les résultats de l'article montrent que le gouvernement gagnerait à privilégier la dette libellée en dollar américain car elle donne plus de marge de manoeuvre dans la stratégie d'endettement. |
| Keywords: | Optimal public debt,foreign currency debt,TAR,exchange rate,public debt management.,Dette optimale,Dette en monnaie étrangère,taux de change,gestion de la dette publique. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03326826&r= |
| By: | Tortia, Ermanno C. |
| Abstract: | This paper discusses the possibility of strong employment protection regimes (EPRs) in worker cooperatives (WCs), a unique organizational form in which employees coincide with members who hold control rights. Worker control is reported by several theoretical and empirical contributions to stabilize employment better than other proprietary forms. We leverage key theoretical insights from evolutionary theory and systems to discuss the possibility (benefits and critical elements) of constraining the dismissal of WC members to further strengthen employment stabilization and enforce member rights. Strong EPRs would be functional to meeting workers' needs for a decent life and job security. While stricter constraints on layoffs can cause short-term inefficiencies (e.g. preventing the dismissal of shirking workers), they also perform an insurance function against unemployment, favor the accumulation and conservation of firm specific human, relational and social capital and improve the equity of distributive patterns. It is also hypothesized that performance would increase in the medium to long run. Voluntary resignation, not involuntary dismissal would be the dominant mechanism allowing for the allocation of work to the most productive occupations. |
| Keywords: | Worker cooperatives; membership rights; dismissal; minimum wage; rules and routines; systems theory |
| JEL: | J31 J54 L2 L21 |
| Date: | 2021–08–13 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109214&r= |
| By: | Pierre-Guillaume Méon; Khalid Sekkat |
| Abstract: | We study the impact of democratic transitions on institutional outcomes. Using an event study method and a sample of 135 countries over the period 1984-2016, we observe that democratic transitions improve institutional outcomes. The effect appears within 3 years after the transition year. The results are robust to alternative definitions of transitions, alternative codings of pre- A nd post-transition years, and changing the set of control variables. We also find that both full and partial democratizations improve institutional outcomes. Transitions out of military regimes or communist autocracies do not. The effect of democratization depends on GDP per capita, education, and the regularity of the transition. Finally, the evidence suggests that the effect is particularly clear on the corruption, law and order, and military in politics dimensions of the index. |
| Keywords: | Democratic transitions; democratization; governance; institutions; political risk |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/328681&r= |
| By: | Rice, Gregory; Wirjanto, Tony; Zhao, Yuqian |
| Abstract: | Crude oil intra-day return curves collected from the commodity futures market often appear to be serially uncorrelated and long-range dependent. Existing functional GARCH models, while able to accommodate short range conditional heteroscedasticity, are not designed to capture long-range dependence. We propose and study a new functional GARCH-X model for this purpose, where the covariate X is chosen to be weakly stationary and long-range dependent. Functional analogs of autocorrelation coefficients of squared processes for this model are derived, and compared to those estimated from crude oil return curves. The results show that the FGARCH-X model provides a significant correction to existing functional volatility models in terms of an in-sample fitting, while its out-of-sample performances do not appear to be more superior than those of the existing functional GARCH models. |
| Keywords: | Crude oil intra-day return curves, volatility modeling and forecasting, functional GARCH-X model, long-range dependence, basis selection |
| JEL: | C13 C32 C58 G10 G17 |
| Date: | 2021–08–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109231&r= |
| By: | Dragan Filipovich; Miguel Niño-Zarazúa; Alma Santillán Hernández |
| Abstract: | Voter coercion is a recurrent threat to pro-poor redistribution in young democracies. In this study we focus on Mexico's paradigmatic Progresa-Oportunidades-Prospera (POP) programme. We investigate whether local mayors exploited POP to coerce voters, and if so, what effect these actions had on the municipal incumbent's vote. |
| Keywords: | Voting, Clientelism, Conditional cash transfers, Rural poverty, Mexico |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp-2021-141&r= |
| By: | Liang Lu; Ruby Nguyen; Md Mamunur Rahman; Jason Winfree |
| Abstract: | The food supply chain has experienced major disruptions from both demand and supply sides during the Covid-19 pandemic. While some consequences such as food waste are directly caused by the disruption due to supply chain inefficiency, others are indirectly caused by a change in consumer’s preferences. As a result, evaluating food supply chain resilience is a difficult task. With an attempt to understand impacts of demand on the food supply chain, we developed an agent-based model based on the case of Idaho’s potato supply chain. Results showed that not only the magnitude but also the timing of the demand shock will have different impacts on various stakeholders of the supply chain. Our contribution to the literature is two-fold. First, the model helps explain why food waste and shortages may occur with dramatic shifts in consumer demand. Second, this paper provides a new angle on evaluating the various mitigation strategies and policy responses to disruptions beyond Covid-19. |
| JEL: | L1 Q11 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29166&r= |
| By: | Margaret Bock; Alexander Cardazzi; Brad R. Humphreys |
| Abstract: | Road maintenance constitutes a significant component of public transportation spending at all levels of government. Formulation of efficient transportation infrastructure policy requires information about factors affecting road and traffic conditions. We generate the first causal evidence that decreasing pavement quality impacts vehicle crash rates and decreases average speed. Results from Instrumental Variable models using spatially and temporally disaggregated data from Federal-Aid Highway System (FAHS) roads in California show statistically and economically significant increases in vehicle crash rates and decreases in average vehicle speed caused by road damage. These impacts imply significant increases in social costs attributable to road damage. |
| JEL: | R41 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29176&r= |
| By: | Marissa Plouin; Willem Adema; Pauline Fron; Paul-Marie Roth |
| Abstract: | This paper discusses housing challenges facing people with disabilities in OECD and EU countries, and policy supports to make housing more affordable, accessible and adapted to their needs. It focuses on the adult population with disabilities living outside institutions, drawing on data from the European Union Survey of Income and Living Conditions (EU-SILC), household surveys, national population census and disability surveys, and country responses to the 2021 OECD Questionnaire on Affordable and Social Housing. The paper summarises housing outcomes; discusses policy supports to ensure that people with disabilities can be safely, affordably and independently housed; and outlines actions for policy makers. |
| Keywords: | Accessibility, Disability, Housing Affordability, Public investment |
| JEL: | I38 H53 R21 R31 |
| Date: | 2021–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaab:261-en&r= |
| By: | Jeffrey A. Frankel; Randy Kotti |
| Abstract: | Vaccination rates have a statistically significant downward effect on the Covid-19 death rate across US counties, as of August 12, 2021. Controlling for poverty rates, age, and temperature lowers the magnitude of the estimate a little. Using the Biden-Trump vote in the 2020 election as an instrument for vaccination rates raises the magnitude of the estimate. Presumably it corrects for a positive effect of observed local Covid deaths on the decision to get vaccinated. Overall, the estimated beneficial effect holds up and has risen over time. |
| JEL: | I1 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29186&r= |
| By: | Pandey, Siddhi Gyan (Jindal School of Liberal Arts and Humanities, O.P. Jindal Global University) |
| Abstract: | Situations that require individuals to mutually cooperate are often analysed as coordination games. This paper proposes a model of cooperative network formation where the network is formed through the process of the coordination game being played between multiple agents. Additionally, network effects are modelled in by the fact that the benefit to any agent from a mutually cooperative link is enhanced, over a base value, by a factor of her trustworthiness or reputation as observed by her partner in that link. Within this framework, evolution of cooperative networks is analysed in the presence of altruistic agents, through repeated interaction between myopically best responding agents in a finite population. Properties of networks that sustain as Nash equilibrium are also analysed. |
| Keywords: | coordination game ; network formation ; game theory ; social networks |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:npf:wpaper:21/346&r= |
| By: | R. Anton Braun (Federal Reserve Bank of Atlanta (E-mail: r.anton.braun@gmail.com)); Daisuke Ikeda (Director and Senior Economist, Institute for Monetary and Economic Studies, Bank of Japan (E-mail: daisuke.ikeda@boj.or.jp)) |
| Abstract: | A tighter monetary policy is generally associated with higher real interest rates on deposits and loans, weaker performance of equities and real estate, and slower growth in employment and wages. How does a household's exposure to monetary policy vary with its age? The size and composition of both household income and asset portfolios exhibit large variation over the lifecycle in Japanese data. We formulate an overlapping generations model that reproduces these observations and use it to analyze how household responses to monetary policy shocks vary over the lifecycle. Both the signs and the magnitudes of the responses of a household's net worth, disposable income and consumption depend on its age. |
| Keywords: | Monetary policy, Lifecycle, Portfolio choice, Nominal government debt |
| JEL: | E52 E62 G51 D15 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ime:imedps:21-e-09&r= |
| By: | Cheng, Haitao |
| Abstract: | In this study, we develop a two-country model to examine whether border carbon adjustments (BCAs) are more effective than emission tax alone in preventing carbon leakage and decreasing global emissions with endogenous assembly locations. Specifically, we explore three policy regimes: i) emission taxes alone (no BCAs), ii) emission taxes and carbon-content tariffs (partial BCAs), and iii) emission taxes, carbon-content tariffs, and tax rebates on exports (full BCAs). We find that the effectiveness of BCAs depends on whether BCAs induce assembly relocation. If assembly relocation does not occur, BCAs prevent carbon leakage and decrease global emissions. However, if BCAs induce assembly relocation, carbon leakage may occur with partial BCAs, and global emissions may be higher with full BCAs. |
| Keywords: | Abatement Investments, Border Carbon Adjustments, Carbon Leakage, Endogenous Assembly Locations, International Oligopoly |
| JEL: | F18 H23 Q54 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:hit:hiasdp:hias-e-110&r= |
| By: | RICOME Aymeric (European Commission - JRC); ELOUHICHI Kamel; GOMEZ Y PALOMA Sergio (European Commission - JRC) |
| Abstract: | Ce rapport présente les résultats d’une évaluation ex-ante de plusieurs scénarios de ciblage des ménages agricoles pour le programme de subvention des engrais actuellement en place au Sénégal. Cette étude a été réalisée à l’aide du modèle de ménage agricole FSSIM-Dev calibré sur un échantillon de 2 278 ménages agricole issus de l’enquête ESPS-2. Les effets sur les assolements, l’utilisation de l’engrais, le revenu des ménages mais aussi sur le budget de l’Etat sont présentés et discutés. |
| Keywords: | Agriculture - Evaluation ex-ante - Sénégal |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc120454&r= |
| By: | International Monetary Fund |
| Abstract: | With a demonstrated resilience to the crisis and the recovery gaining strength, macroeconomic policies should aim at preserving stability and complementing structural reforms that address long-standing challenges. A medium-term plan to rebuild buffers, support potential growth, and target pockets of vulnerability would help address pre-existing disparities and poverty. Sustained productivity growth, supported by the implementation of politically difficult but needed structural reforms, is the only way to support high wage growth and convergence with Western Europe. Failure to do so could jeopardize Lithuania’s hard-earned competitiveness gains. |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2021/192&r= |
| By: | Snehalkumar (Neil); S. Gaikwad; Shankar Iyer; Dalton Lunga; Yu-Ru Lin |
| Abstract: | Humanitarian challenges, including natural disasters, food insecurity, climate change, racial and gender violence, environmental crises, the COVID-19 coronavirus pandemic, human rights violations, and forced displacements, disproportionately impact vulnerable communities worldwide. According to UN OCHA, 235 million people will require humanitarian assistance in 20211 . Despite these growing perils, there remains a notable paucity of data science research to scientifically inform equitable public policy decisions for improving the livelihood of at-risk populations. Scattered data science efforts exist to address these challenges, but they remain isolated from practice and prone to algorithmic harms concerning lack of privacy, fairness, interpretability, accountability, transparency, and ethics. Biases in data-driven methods carry the risk of amplifying inequalities in high-stakes policy decisions that impact the livelihood of millions of people. Consequently, proclaimed benefits of data-driven innovations remain inaccessible to policymakers, practitioners, and marginalized communities at the core of humanitarian actions and global development. To help fill this gap, we propose the Data-driven Humanitarian Mapping Research Program, which focuses on developing novel data science methodologies that harness human-machine intelligence for high-stakes public policy and resilience planning. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.00435&r= |
| By: | De Koning, Kees |
| Abstract: | In the U.S. and in other OECD countries, government debt levels as compared to GDP have soared since 2007. According to statistics from the Federal Reserve, the U.S. government debt level reached 62.86% of GDP by Q4 2007 and the debt level has increased to 127.52% by Q1 2021. Q4 2007 was, of course, just before the Great Recession occurred and Q1 2021 was well after the start of the Corona virus crisis. There are three questions to be answered: the first one is who bears the costs of servicing the U.S. government debt levels; the second one is about the applicable interest rates and the third one is about Quantitative Easing (QE), which did not exist in the U.S. until November 2008. Whatever politicians of all convictions claim and however they use budgetary smoke screens to make their tax take look acceptable, it is the household sector that are the ultimate pay masters in whatever country. Households pay in two ways; firstly by suffering from unemployment levels over time and secondly by being the direct and indirect payees of all taxes. A complicating factor is the level of applicable interest rates, which in the EU has gone down to the extreme level of applying negative interest rates over savings. Simple accounting rules make a distinction between assets –the monetary value of what one owns- and liabilities -the amounts one owes to others-. Each household in the U.S. may have some assets like home equity or pension savings, but may also have debts for car loans or student debts for instance. Furthermore households hand over a substantial amount of their income to companies for their products and services on top of paying taxes directly to the U.S. government. The concept that a government owns assets is based on a misunderstanding. The assets are based on savings, ultimately provided by individual households, some of who may live overseas. The aim of this paper is to illustrate that the actions of the U.S. government, including QE, do not only support economic growth levels at times, but can also create barriers to such growth. How these barriers can be turned into opportunities is the main subject of this paper. |
| Keywords: | U.S. Government debts; U.S. Home equity levels; U.S.Pension savings; Quantitative Easing (QE); Quantitative Easing Home Equity (QEHE); U.S. Households income and expenditure levels; |
| JEL: | E21 E24 E4 E44 E58 E61 E65 |
| Date: | 2021–08–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109105&r= |
| By: | John Forth (Bayes Business School, City, University of London, UK); Nikolaos Theodoropoulos (University of Cyprus); Alex Bryson (University College London, UK) |
| Abstract: | Using matched employer-employee data for Britain, we examine ethnic wage differentials among full-time employees. We find substantial ethnic segregation across workplaces: around three-fifths of workplaces in Britain employ no ethnic minority workers. However, this workplace segregation does not contribute to the aggregate wage gap between ethnic minorities and white employees. Instead, most of the ethnic wage gap exists between observationally equivalent co-workers. Lower pay satisfaction and higher levels of skill mismatch among ethnic minority workers are consistent with discrimination in wage-setting on the part of employers. The use of job evaluation schemes within the workplace is shown to be associated with a smaller ethnic wage gap. |
| Keywords: | ethnic wage gap; workplace segregation; skill mismatch; pay satisfaction; job evaluation |
| JEL: | J16 J31 M52 M54 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:qss:dqsswp:2125&r= |
| By: | Evgeny N. Osin (National Research University Higher School of Economics); Elena Yu. Voevodina (National Research University Higher School of Economics); Vasily Yu. Kostenko (National Research University Higher School of Economics) |
| Abstract: | Eudaimonia is theorized to be a more complex type of positive functioning than hedonia, associated with personality development and maturity. In this study, we aimed to find out whether ego development (ED), proposed as a measure of psychosocial maturity, is related to eudaimonic well-being and whether trait indicators of eudaimonic functioning can explain this association. Adult participants from a community sample (N = 357, age 18-80, 63% female) completed Russian versions of WUSCT, MLQ, HEMA-R, and MHC-SF. The results of structural equation modeling indicate that trait indicators of eudaimonic functioning can explain the association between ED and eudaimonic well-being, providing some support for the view of eudaimonia as a complex type of flourishing more easily attained by mature personalities |
| Keywords: | eudaimonia, ego development, well-being, mental health, structural equation modeling |
| JEL: | Z |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:125psy2021&r= |
| By: | Elise Petit; Bruno Van Pottelsberghe; Lluís Gimeno Fabra |
| Abstract: | This paper revisits the literature providing empirical evidence that patent offices are biased in favour of their national applicants. If true, this “national bias” would be proof of disrespect of several international patent-related treaties. Existing investigations are however subject to an important limitation: they focus only on grant rates – a potentially biased indicator of stringency, since it is influenced by economic forces. It is argued that including a deeper analysis of how the patent examination process is carried out provides a more robust approach. Relying on a unique database of 2400 patent families filed simultaneously in three patent offices (EPO, JPO & USPTO), the paper finds no evidence of national bias throughout the examination process of any of them. |
| Keywords: | Patent systems, TRIPs, national bias, examination, international comparison |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/330840&r= |
| By: | Cheng, Haitao |
| Abstract: | In this study, we develop a two-country model to examine whether border carbon adjustments (BCAs) are more effective than emission tax alone in preventing carbon leakage and decreasing global emissions with endogenous assembly locations. Specifically, we explore three policy regimes: i) emission taxes alone (no BCAs), ii) emission taxes and carbon-content tariffs (partial BCAs), and iii) emission taxes, carbon-content tariffs, and tax rebates on exports (full BCAs). We find that the effectiveness of BCAs depends on whether BCAs induce assembly relocation. If assembly relocation does not occur, BCAs prevent carbon leakage and decrease global emissions. However, if BCAs induce assembly relocation, carbon leakage may occur with partial BCAs, and global emissions may be higher with full BCAs. |
| Keywords: | Abatement Investments, Border Carbon Adjustments, Carbon Leakage, Endogenous Assembly Locations, International Oligopoly |
| JEL: | F18 H23 Q54 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:hit:hiasdp:hias-e-111&r= |
| By: | Krzysztof Kowalke; Bernhard Funk |
| Abstract: | Polish government has contemplated introducing the REIT format into Polish legislation, allowing for formation of REITs in Poland for investment purposes. However, by the start auf 2021, Polish REIT (PL-REIT) legislation has not been enacted. Other countries have specific but not necessarily consistent growth trajectories with the introduction of REIT vehicles. United States of America saw a strong growth in market capitalization especially with the begin of the 1990s, transforming US REITs into a very important attractor for capital in the real estate investment market and offering investment opportunity into REIT shares both for private and institutional clients, Germany on the contrary has seen less dynamic growth with unsatisfactory market momentum of its G-REIT market. It is therefore assumed important to identify the drivers that cause success or failure of an investment vehicle and its regulatory framework in the light of country specific market preconditions. The research focus of the paper is cross-country comparison between the US and German REIT markets aimed to deduct the success factors that help formulate the preconditions and framework required to establish a feasible PL-REIT structure and outline the factors that improve chances for a viable PL-REIT market introduction and market growth. The paper´s focus is looking at the framework of PL-REIT introduction by looking at the Polish real estate investment market´s market size, types of investment vehicles and market potential, including regulatory factors. |
| Keywords: | Indirect investment vehicles; legal framework; Polish real estate market; Real Estate Investment Trusts |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2021_120&r= |
| By: | Prüfer, Jens (Tilburg University, TILEC); Xu, Y. (Tilburg University, TILEC) |
| Keywords: | intrinsic motivation; Altruism; beliefs; nonprofit; nonprofit sector; NGOs; charities; self deception |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutil:bf17c5e5-ed33-4e3b-a52b-e059878c133c&r= |
| By: | Jean-Eudes Beuret (AGROCAMPUS OUEST - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Ludovic Martel (UDC - Université de Corse - UPP - Université Pascal Paoli); Anne Cadoret (TELEMME - Temps, espaces, langages Europe méridionale-Méditerranée - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique); Frédérique Chlous (PALOC - Patrimoines locaux, Environnement et Globalisation - MNHN - Muséum national d'Histoire naturelle - IRD - Institut de Recherche pour le Développement - SU - Sorbonne Université); Julie Delannoy; Marie Lesueur (AGROCAMPUS OUEST - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Christelle Noirot; Hélène Rey-Valette (CEE-M - Centre d'Economie de l'Environnement - Montpellier - UMR 5211 - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Lucille Ritschard (ESO - Espaces et Sociétés - IGARUN - Institut de Géographie et d'Aménagement - UN - Université de Nantes - CNRS - Centre National de la Recherche Scientifique - UR2 - Université de Rennes 2 - UNIV-RENNES - Université de Rennes - AGROCAMPUS OUEST - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UA - Université d'Angers - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UM - Le Mans Université); Paul Sauboua (EID Méditerranée - EID Méditerranée - Etablissement public administratif) |
| Abstract: | Nous nous intéressons ici à la gouvernance d'une catégorie d'aires marines protégées, Natura 2000 en mer, et aux déterminants de l'efficacité de la gouvernance des sites. Après avoir constitué une base de données portant sur 158 sites localisés en France métropolitaine, un échantillon de 20 sites a été l'objet d'une analyse comparative par études de cas. Nous constatons d'abord qu'un même cadre standard est décliné, en réalité, de façons différentes selon les façades, régions et sites. La diversité des situations de gouvernance est déchiffrée à partir de l'identification de quatre facteurs discriminants : l'enchevêtrement (ou non) du site dans un autre dispositif de gestion territoriale, les temporalités de la gouvernance (en amont ou en aval du document d'objectifs), les proximités locales (préexistantes ou à créer), la situation géographique du site (côtier ou au large). L'analyse porte ensuite sur ce que produit la gouvernance, selon ses caractéristiques, avec différents types de plus-values (effets directs et effets-rebonds, ressources, actions et coordinations) qui ne se révèlent effectives que sous certaines conditions. Les facteurs qui fondent l'efficacité et la qualité de la gouvernance sont finalement caractérisés, au regard des objectifs du dispositif et différentes pistes d'amélioration en sont déduites. |
| Abstract: | Ce document a été généré automatiquement le 16 juillet 2021. Les contenus de VertigO sont mis à disposition selon les termes de la Licence Creative Commons Attribution-Pas d'Utilisation Commerciale-Pas de Modification 4.0 International. |
| Keywords: | aires marines protégées,conservation,environnement marin,gouvernance,Natura 2000 en mer |
| Date: | 2021–05–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03287999&r= |
| By: | Bruno Cabrillac (Banque de France - Banque de France - Banque de France) |
| Abstract: | The decision to allocate SDRs up to 455 billion (i.e. approximately USD 650 billion), taken by the G20 and which should be validated by the IMF's Executive Board before the end of the summer, entails a more than threefold increase in the stock of public SDRs. Until now, a very large part of these SDRs has remained immobilized in the balance sheets of the central banks of the major economies. The new dimension that this instrument is taking on has initiated a reflection on how to make this injection of international liquidity more effective by redirecting it to the countries that need it. This reflection is also taking place in a context where the public finances of the main official development assistance donor countries are under pressure due to the consequences of the health crisis. |
| Keywords: | Vulnerabilities,COVID-19,Development financing,Economic crisis,FMI,Development banks |
| Date: | 2021–07–28 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03324505&r= |
| By: | Raffaella Giacomini; Toru Kitagawa; Matthew Read |
| Abstract: | We review the literature on robust Bayesian analysis as a tool for global sensitivity analysis and for statistical decision-making under ambiguity. We discuss the methods proposed in the literature, including the different ways of constructing the set of priors that are the key input of the robust Bayesian analysis. We consider both a general set-up for Bayesian statistical decisions and inference and the special case of set-identified structural models. We provide new results that can be used to derive and compute the set of posterior moments for sensitivity analysis and to compute the optimal statistical decision under multiple priors. The paper ends with a self-contained discussion of three different approaches to robust Bayesian inference for set-identified structural vector autoregressions, including details about numerical implementation and an empirical illustration. |
| Keywords: | ambiguity; Bayesian robustness; statistical decision theory; identifying restrictions; multiple priors; structural vector autoregression |
| JEL: | C11 C18 C52 |
| Date: | 2021–08–23 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedhwp:93001&r= |
| By: | Kozo Ueda (Waseda University); Kota Watanabe (Canon Institute for Global Studies and University of Tokyo); Tsutomu Watanabe (University of Tokyo) |
| Abstract: | Large-scale household inventory buildups occurred in Japan five times over the last decade, including those triggered by the Tohoku earthquake in 2011, the spread of COVID-19 infections in 2020, and the consumption tax hikes in 2014 and 2019. Each of these episodes was accompanied by considerable swings in GDP, suggesting that fluctuations in household inventories are one of the sources of macroeconomic fluctuations in Japan. In this paper, we focus on changes in household inventories associated with temporary sales and propose a methodology to estimate changes in household inventories at the product level using retail scanner data. We construct a simple model on household stockpiling and derive equations for the relationships between the quantity consumed and the quantity purchased and between consumption and purchase prices. We then use these relationships to make inferences about quantities consumed, consumption prices, and inventories. Next, we test the validity of this methodology by calculating price indices and check whether the intertemporal substitution bias we find in the price indices is consistent with theoretical predictions. We empirically show that there exists a large bias in the Laspeyres, Paasche, and T¨ornqvist price indices, which is smaller at lower frequencies but non-trivial even at a quarterly frequency and that intertemporal substitution bias disappears for a particular type of price index if we switch from purchase-based data to consumption-based data. |
| Keywords: | consumer inventory; consumer inventory; cost-of-living index; temporary sales; inflation; price elasticity |
| JEL: | C43 D15 E31 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:upd:utmpwp:033&r= |
| By: | Honda, Toshio; Lin, Chien-Tong |
| Abstract: | We propose forward variable selection procedures with a stopping rule for feature screening in ultra-high dimensional quantile regression models. For such very large models, penalized methods do not work and some preliminary feature screening is necessary. We demonstrate the desirable theoretical properties of our forward procedures by taking care of uniformity w.r.t. subsets of covariates properly. The necessity of such uniformity is often overlooked in the literature . Our stopping rule suitably incorporates the model size at each stage. We also present the results of simulation studies and a real data application to show their good finite sample performances. |
| Keywords: | forward procedure, check function, sparsity, screening consistency, stopping rule |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:hit:econdp:2021-02&r= |
| By: | Etienne Capron (MSH Ange-Guépin - Maison des Sciences de l'Homme Ange-Guépin - UN - Université de Nantes - UM - Le Mans Université - UA - Université d'Angers - CNRS - Centre National de la Recherche Scientifique, GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - AGROCAMPUS OUEST - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - Institut National de l'Horticulture et du Paysage); Dominique Sagot-Duvauroux; Raphaël Suire |
| Abstract: | This article aims to study the role of brokers, places, and events in the structuring of a community of innovation whose practice is at the intersection of art and technology-projection mapping. Using an exploratory case study, we observe the relationships between the different actors who form a community, sharing a common interest in a techno-creative practice-but whose collective innovation dynamic is only in its beginnings and remains unstable. We document the critical role of places and events as intermediary platforms for these actors. This reveals preferential circulations-patterns of moves among a set of focal locations in the city for a community-and the crucial role of these locations in communities' emergence. |
| Keywords: | techno-creative innovation,community,network analysis,places,events,brokers |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03323847&r= |
| By: | Khalfaoui, Rabeh; Tiwari, Aviral Kumar; Khalid, Usman; Shahbaz, Muhammad |
| Abstract: | This study aims to revisit the evidence of co-movement and lead-lag nexus between carbon dioxide emissions and economic growth in G7 countries over a period of two centuries by using the wavelet coherence analysis. The key findings reveal (i) a cyclical relationship between carbon dioxide emissions and GDP per capita, which implies that during the upswing phase of business cycles, economic growth and carbon dioxide emissions both grow, but the latter can be predicted using GDP as an indicator function at the 1- to 2-year scale. (ii) A time-scale bidirectional causality between carbon dioxide emissions and GDP per capita. This implies that carbon dioxide emissions cannot be reduced without adversely affecting economic growth. Further, the finding also implies a rapid adoption of alternative clean energy sources to reduce carbon dioxide emissions without depressing economic growth. |
| Keywords: | Carbon Dioxide Emissions, Economic Growth, G7, Time-Frequency Analysis |
| JEL: | Q5 |
| Date: | 2021–08–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109276&r= |
| By: | Benedict von Ahlefeldt-Dehn; Marcelo Cajias; Wolfgang Schäfers |
| Abstract: | The commercial real estate market is opaque and build upon complex relationships of countless property market and macroeconomic factors. Yet, office markets are due to its sheer volume and importance for numerous market players such as investors, developers, mortgage underwriters and valuation firms broadly researched. Especially, the prediction of property market indicators found strong interest among researchers and practitioners in the field of commercial real estate. Thus, the literature proposes three main frameworks for predicting office rents, among other. The estimation via multiple equation models such as error correction mechanism models (e.g. Hendershott et al., 2002; Ke and White, 2009; McCartnery, 2012) or interlinked demand and supply models (e.g. Rosen, 1984; Hendershott et al., 1999; Kim, 2012), reduced form single equation models (e.g. Matysiak and Tsolacos, 2003; Voigtländer, 2010; Kiehelä and Falkenbach, 2014) or autoregressive models (e.g. McGough and Tsolacos, 1995; Brooks and Tsolacos, 2000; Stevenson and McGarth, 2003). However, the limitations of the applied methods lay within the econometric methods itself. “Traditional” statistical modeling as an approximation of causality will only understand trends and relationships in the underlying market to the degree the employed econometric methods themselves can mirror. In contrast, more recent methodological attempts such as machine learning can be seen as a process of selecting the relevant features leading to a trade-off between precision and stability of a predictive model (Conway, 2018). This however, creates opportunities to expand and enhance existing efforts – in a way that complex and non-linear relationships within the data are captured. Many studies (e.g Dabrowski and Adamczyk, 2010; Rafatirad, 2017, Cajias and Ertl, 2018; Mayer et al., 2019) apply advanced machine learning methods to residential markets and demonstrate that “traditional” linear hedonic models can be outperformed. While linear models are found to produce less volatile predictions advanced machine learning methods yield more accurate results. Promising results can also be shown in commercial real estate markets. In particular, the aim of research is the performance assessment of the forecasting of office rents in European markets with advanced machine learning methods. A dataset of European markets with office prime rents and market as well as macroeconomic indicators is analysed and advanced machine learning models are estimated. A “traditional” linear regression model (ordinary least squares) functions as a benchmark for the evaluation of the employed methods: random forest and extreme gradient boosting. In particular, the prediction power and forecasting ability is assessed in- and out-of-sample, respectively. The tree-based advanced machine learning methods yield promising estimations in the observed markets. It becomes clear that in commercial real estate markets complex and non-linear relationships are present and can effectively be estimated by non-parametric econometric models. By the application of these methods the estimation error (out-of-sample) can be reduced by up to 60 percent. To the best of the authors knowledge such applications of machine learning methods in commercial real estate markets has not been considered in prior research. However, in the area of textual analysis results show that commercial real estate markets can be forecasted on the basis of market sentiment (e.g. Beracha et al., 2019). The capability of improving the forecasting power with advanced machine learning methods creates value and transparency for numerous market players and authorities. |
| Keywords: | commercial real estate; Forecast; Machine Learning; Office Rent |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2021_49&r= |
| By: | Ho Ka Chan; Taro Toyoizumi |
| Abstract: | Many experimental observations have shown that the expected utility theory is violated when people make decisions under risk. Here, we present a decision-making model inspired by the prediction of error signals reported in the brain. In the model, we choose the expected value across all outcomes of an action to be a reference point which people use to gauge the value of different outcomes. Action is chosen based on a nonlinear average of anticipated surprise, defined by the difference between individual outcomes and the abovementioned reference point. The model does not depend on non-linear weighting of the probabilities of outcomes. It is also straightforward to extend the model to multi-step decision-making scenarios, in which new reference points are created as people update their expectation when they evaluate the outcomes associated with an action in a cascading manner. The creation of these new reference points could be due to partial revelation of outcomes, ambiguity, or segregation of probable and improbable outcomes. Several economic paradoxes and gambling behaviors can be explained by the model. Our model might help bridge the gap between theories on decision-making in quantitative economy and neuroscience. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2108.12347&r= |
| By: | Ricardo Santos; Sam Jones |
| Abstract: | This paper builds on a longitudinal school-to-work transition phone survey experiment to quantify the effects on attrition of communicating with participants. Specifically, we study the impact of sending topically relevant information on job market conditions via SMS at the start of each survey round. Testing various information treatments, which differ in their granularity, including survival analysis, we find they all significantly reduce the instantaneous risk of non-response, with an estimate of instantaneous hazard reduction of around 30 per cent. |
| Keywords: | Survey, Participation, Information, Survival analysis |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp-2021-140&r= |
| By: | Rohde, Paul; Mau, Gunnar |
| Abstract: | Purpose: This study aims to examine the ability of the social influence heuristics framework to capture skillful and creative social media influencer (SMI) marketing in long-form video content on YouTube for influencer-owned brands and products. Design/methodology/approach: The theoretical lens was a framework of seven evidence-based social influence heuristics (reciprocity, social proof, consistency, scarcity, liking, authority and unity). For the methodological lens, a qualitative case study approach was applied to a purposeful sample of 6 SMIs and 15 videos on YouTube. Findings: The evidence shows that self-promotional influencer marketing in long-form video content is relatable to all seven heuristics and shows signs of high elaboration, innovativeness and skillfulness. Research limitations/implications: The study reveals that a heuristic-based account of self-promotional influencer marketing in long-form video content can greatly contribute to the understanding of how various well-established marketing concepts (e.g. source attractivity) might be expressed in real-world communications and behaviors. Based on this improved, in-depth understanding, current research efforts, such as experimental studies using one video with a more or less arbitrary influencer and pre-post measure, are advised to explore research questions via designs that account for the observed subtle and complex nature of real-world influencer marketing in long-form video content. Practical implications: This structured account of skillful and creative marketing can be used as educational and instructive material for influencer marketing practitioners to enhance their creativity, for consumers to increase their marketing literacy and for policymakers to rethink policies for influencer marketing. Originality/value: Prior research has created a body of knowledge on influencer marketing. However, a conceptual disconnect has hampered the advancement of the field. The social influence heuristics framework is a highly functional conceptual bridge that links the qualitative and quantitative evidence and will advance the understanding of influencer marketing more effectively. |
| Keywords: | celebrity endorsement; children; influencer marketing; long-form video marketing; native marketing; social influence; social media marketing; social psychology; vlog; young people; YouTube |
| JEL: | L81 |
| Date: | 2021–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111805&r= |
| By: | Cristian Luise (Dept. of Management, Università Ca' Foscari Venice); Peter J. Buckley (Centre for International Business, Leeds University Business School); Hinrich Voss (Department of International Business, HEC Montreal); Emmanuella Plakoyiannaki (Faculty of Business, Economics and Statistics, University of Vienna); Elisa Barbieri (Dept. of Economics, Università Ca' Foscari Venice) |
| Abstract: | Infrastructural assets are vital for a country’s economic and social development. Governments typically provide the regulation and administration of these assets, while multinational enterprises (MNEs) develop, construct, finance, and operate them. The Belt and Road Initiative (BRI) promises infrastructure projects that deliver economic and social benefit for both the host country and the MNE. We argue that BRI objectives and project scope are kept in check in the host country through an existing nexus of property rights. Chinese investors need to understand the bargaining position and property rights actors across multiple levels, across space, and be mindful of changes over time when negotiating for an infrastructure investment. We interrogate four case studies of Chinese investment negotiations in Italian ports to explore the conceptual framework and to examine how the negotiation process evolved following BRI. |
| Keywords: | Belt and Road Initiative, infrastructure, FDI policy, emerging market multinationals, contract theory, Italy, ports, case study. |
| JEL: | F23 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:vnm:wpdman:184&r= |
| By: | Elise Petit; Bruno Van Pottelsberghe; Lluís Gimeno Fabra |
| Abstract: | This paper revisits the literature providing empirical evidence that patent offices are biased in favour of their national applicants. If true, this “national bias” would be proof of disrespect of several international patent-related treaties. Existing investigations are however subject to an important limitation: they focus only on grant rates – a potentially biased indicator of stringency, since it is influenced by economic forces. It is argued that including a deeper analysis of how the patent examination process is carried out provides a more robust approach. Relying on a unique database of 2400 patent families filed simultaneously in three patent offices (EPO, JPO & USPTO), the paper finds no evidence of national bias throughout the examination process of any of them. |
| Keywords: | Patent systems, TRIPs, national bias, examination, international comparison |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:ict:wpaper:2013/330846&r= |
| By: | Forth, John; Theodoropoulos, Nikolaos; Bryson, Alex |
| Abstract: | Using matched employer-employee data for Britain, we examine ethnic wage differentials among full-time employees. We find substantial ethnic segregation across workplaces: around three-fifths of workplaces in Britain employ no ethnic minority workers. However, this workplace segregation does not contribute to the aggregate wage gap between ethnic minorities and white employees. Instead, most of the ethnic wage gap exists between observationally equivalent co-workers. Lower pay satisfaction and higher levels of skill mismatch among ethnic minority workers are consistent with discrimination in wage-setting on the part of employers. The use of job evaluation schemes within the workplace is shown to be associated with a smaller ethnic wage gap. |
| Keywords: | ethnic wage gap,workplace segregation,skill mismatch,pay satisfaction,job evaluation |
| JEL: | J16 J31 M52 M54 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:920&r= |
| By: | Sawada, Yasuyuki (Asian Development Bank Institute); Sumulong, Lea R. (Asian Development Bank Institute) |
| Abstract: | We summarize the unprecedented adverse health and economic impacts as well as policy responses in the Asia and Pacific region and the rest of the world generated by the coronavirus disease (COVID-19) pandemic in 2020. By the end of 2020, over 80 million people had been infected, with developing Asia accounting for 17% of cases. As the pandemic progressed, the Asian Development Bank (ADB) carried out assessments of the impacts on the global economy as well as on the overall economies of its developing members, updating the analyses as more information became available. On the whole, five economic impact assessments were undertaken in 2020 – one each in March, April, May, June, and December. Based on the latest analysis, relative to a no-COVID-19 baseline, global losses were estimated at 5.5%–8.7% of world GDP in 2020 and 3.6%–6.3% of world GDP in 2021, with the corresponding losses for developing Asia amounting to 6.0%–9.5% of regional GDP and 3.6%–6.3% of regional GDP in 2020 and 2021, respectively. These impacts largely originate from declines in domestic demand and tourism, and from global spillovers. As a result of these losses, real GDP of the developing Asian region is estimated to have contracted by 0.4% in 2020. A partial recovery is expected in 2021, with regional growth projected at 6.8%. Further analyses were carried out to study the impacts on micro, small, and medium-sized enterprises; employment; migration and remittances; poverty; nonperforming loans; and debt sustainability. Faced with wide-ranging unfavorable impacts, governments and multilateral lenders responded aggressively to mitigate the adverse effects of the pandemic. Many governments provided direct income support to households and businesses to help them cope with the economic shock. Meanwhile, multilateral lenders like ADB readily provided support in terms of finance, knowledge, and partnerships. In addition, ADB launched a $9 billion vaccine facility, the Asia Pacific Vaccine Access Facility, in December 2020, to support its low- and middle-income member countries in the effective procurement and delivery of COVID-19 vaccines. Despite the availability of vaccines, however, there is no room for complacency, as it will take years for the global population to achieve herd immunity, especially amidst the emergence of new, more transmissible, virus strains. While COVID-19 has brought about long-lasting changes to the global economy, it is up to policy makers to use this opportunity to adapt COVID-19 responses to address longer-term challenges. |
| Keywords: | COVID-19; economic impact; policy response |
| JEL: | E17 H30 H60 I15 I32 |
| Date: | 2021–04–08 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:1251&r= |
| By: | Gizem Ulusoy; Yeim Tanrvermi |
| Abstract: | Globalization, foreign direct investments (FDI) and international real estate investments have been known as most popular issues in recent years. The fourth phase of globalization have “caused such a multilayered change including economic, political, socio-cultural areas. The free movement of capital is known as the most important component of the economic dimension of globalization taken together the conditions of FDI and it has been determined that real estate investment has an increased share throughout the total investment figures in Turkey. Within this respect it has been provided that internationalized real estate investments will play a leading role for emerging economies. Developing economies need to overcome their own problems in the development process regarding their insufficient capital accumulation and technological deficiencies as well as low income and low savings to reach the capital accumulation they need which takes a very long term. Therefore, it seems natural that they aim to obtain the investment capital from global capital within development process. It is also known that FDI offers important profit opportunities not only for the host country but also for the country investing. It is observed that the effects of the strategies to be implemented at both national and regional levels by both sides of the investments where the mutual win-win approach is valid direct this process. Referring to the mentioned effects in specific to Turkey, FDI is essential for the economy as a developing economy. Legal regulations and incentives to attract investments creates an effective and favorable environment in Turkey. Turkey does not only attract foreign investment, but also invests in, shows that having a role in multiple areas of the global economy. This paper aims to reveal the relationship between the foreign real estate investments and the macroeconomic indicators in Turkey using both primary and secondary data as well as tackling the studies examining the FDI received in Turkey briefly. The remainder of the paper is organized as follows. In the next section a quick literature review including examples of developing economies is presented, then legal dimensions regarding FDI in Turkey in addition to international law have been discussed. Section 3 outlines the economic and political climate in Turkey between the years 2007-2019 prior to tackling with fieldwork results (primary data) in the light of the secondary data. Section 4 concludes the paper and propose a solution for the future perspective. |
| Keywords: | emerging economies; Foreign Direct Investment; Globalization; Real Estate Investment |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2021_153&r= |
| By: | Michał Brzoza-Brzezina; Marcin Kolasa; Krzysztof Makarski |
| Abstract: | We study the macroeconomic effects of the COVID-19 epidemic in a quantitative dynamic general equilibrium setup with nominal rigidities. We evaluate various containment policies and show that they allow to dramatically reduce the welfare cost of the disease. Then we investigate the role that monetary policy, in its capacity to manage aggregate demand, should play during the epidemic. We show that treating the observed output contraction as a standard recession leads to a bad policy, irrespective of the underlying containment measures. Then we check how monetary policy should solve the trade-off between stabilizing the economy and containing the epidemic. If no administrative restrictions are in place, the second motive prevails and, in spite of the deep recession, optimal monetary policy is in fact contractionary. Only if sufficient containment measures are being introduced should central bank interventions be expansionary and help stabilize economic activity. |
| Keywords: | COVID-19; Epidemics; Containment measures; Monetary policy |
| JEL: | E1 E5 E6 H5 I1 I3 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:sgh:kaewps:2021067&r= |
| By: | Lidia Ceriani (Georgetown University, Washington DC, USA.); Vladimir Hlasny (Ewha Womans University, Seoul, South Korea.); Paolo Verme (World Bank, Washington DC, USA.) |
| Abstract: | The paper discusses the main issues related to negative and zero incomes that are relevant for the measurement of poverty. It shows the prevalence of non-positive incomes in high- and middle-income countries, provides an analysis of the sources and structure of these incomes, outlines the various approaches proposed by scholars and statistical agencies to treat non-positive incomes, and explains how non-positive incomes and alternative correction methods impact the measurement of standard poverty indexes. It is argued that negative and zero incomes cannot be treated equally in terms of household well-being and that standard methods used by practitioners fail to recognize this fact likely resulting in overestimations of poverty. |
| Keywords: | Welfare measurement; Well-being; Poverty targeting; High- and middle-income countries; Survey non-response; Negative incomes; Zero incomes; Extreme income corrections |
| JEL: | D31 D63 I32 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:inq:inqwps:ecineq2021-589&r= |
| By: | Yacine Aït-Sahalia; Felix Matthys; Emilio Osambela; Ronnie Sircar |
| Abstract: | We analyze an environment where the uncertainty in the equity market return and its volatility are both stochastic, and may be potentially disconnected. We solve a representative investor's optimal asset allocation and derive the resulting conditional equity premium and risk-free rate in equilibrium. Our empirical analysis shows that the equity premium appears to be earned for facing uncertainty, especially high uncertainty that is disconnected from lower volatility, rather than for facing volatility as traditionally assumed. Incorporating the possibility of a disconnect between volatility and uncertainty significantly improves portfolio performance, over and above the performance obtained by conditioning on volatility only. |
| JEL: | G11 G12 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29195&r= |
| By: | Wagner, Omer |
| Abstract: | Sea freight prices have risen sharply, due to the COVID-19 crisis, global shortages of ships, declining competition in the field, and containers of contagious demand. The increase in transportation costs leads to the increase in the value of goods for customs purposes, and to a further collection of customs duties. The Israeli law allows the state to facilitate importers and waive the extra customs duties, and similar and other facilitations have been made in the past. Therefore, all that is required is the flexibility and activation of goodwill on the part of the state, when interpreting the law. |
| Keywords: | customs,valuation,transport,COVID19,Israel |
| JEL: | F13 G38 H2 H29 R4 R49 |
| Date: | 2021–07–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108808&r= |
| By: | Edler, Jakob; Köhler, Jonathan Hugh; Wydra, Sven; Salas-Gironés, Edgar; Schiller, Katharina; Braun, Annette |
| Abstract: | There is a need for concepts and methods to develop generic insights across cases in transitions studies and to analyse "transformational system failures" in policy. This paper identifies dimensions for a system level analysis and illustrates their application to compare cases and identify possible entry points for policy. System dimensions are grouped into the function of the socio-technical system, its characteristics, the context and its agency. Transformation dimensions address drivers and barriers, politics and dynamics of the system. The illustrations for German bioeconomy and sustainable mobility in the Netherlands both indicate directionality failures and contested policy goals. This results in reflexivity failures in the German bioeconomy, because clear goals are not set, impeding the monitoring of progress. In contrast, mobility initiatives in the Netherlands are constantly adapting to moving targets. Governance structures facilitating system change need to avoid capture by vested interests influencing the routes of change. Both illustrations allow to draw general conclusions as to the value of a structured systems and transformation analysis to support policy analysis and practice. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisisi:s032021&r= |
| By: | Daniel Houser (Interdisciplinary Center for Economic Science and Department of Economics, George Mason University); Jian Song (Interdisciplinary Center for Economic Science and Department of Economics, George Mason University) |
| Abstract: | We extend the war of attrition by studying a three-period dynamic contest game. In our game, players can fight against their opponents at certain period of the contest and can flee at any time. Waiting is costly. We focus on the role of waiting costs and show that the value of waiting costs is a key factor in determining the type of equilibrium in such dynamic contests. Specifically, as waiting costs increase, contests end earlier, battles are less likely to occur, and the weaker player in a pair is more likely to flee. A lab experiment verifies most key features of our model. However, unlike theoretical predictions, we find that as waiting costs increase, the duration of contests and the frequency of battles fail to drop as significantly as theory predicted. Moreover, we find that in each treatment, individual players exit the contest significantly earlier than predicted. |
| Keywords: | Dynamic contest, Waiting cost, Frequency of battles, Lab experiment |
| JEL: | D82 D90 C90 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:gms:wpaper:1082&r= |
| By: | Revilla, Ma. Laarni D. (Asian Development Bank Institute); Qu, Fangqi (Asian Development Bank Institute); Seetharam, K E (Asian Development Bank Institute); Rao, Bhanoji (Asian Development Bank Institute) |
| Abstract: | The top 12 development journals published a total of 18,329 papers during the period 2000‒2020. Of these, only 51 focused on sanitation and related issues, which are the focus of this review. Results were mixed on the efficiency of sanitation delivery since political factors and administrative characteristics vary across locations. Accountability and leadership, especially at the local level, appear to be important driving forces. There is a need for more case studies that analyze what works, and what does not, in specific locations. Also, further studies will have to investigate how to influence the norms, traditions, and beliefs toward favorably supporting household sanitation decisions. Additionally, governments should enhance their social welfare programs to address socioeconomic inequalities (i.e., income, gender, and rural-urban disparities), which also critically affect individual and household sanitation investments. Efforts at national and international levels are needed to encourage research on the various dimensions of sanitation. |
| Keywords: | sanitation; sustainable development goals; systematic review; empirical evidence; accountability; health; education; gender |
| JEL: | I00 I30 O10 |
| Date: | 2021–04–12 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:1253&r= |
| By: | Deborah A. Cobb-Clark; Sarah C. Dahmann; Daniel A. Kamhöfer; Hannah Schildberg-Hörisch |
| Abstract: | We propose a broadly applicable empirical approach to classify individuals as time-consistent versus native or sophisticated regarding their self-control limitations. Operationalizing our approach based on nationally representative data reveals that self-control problems are pervasive and that most people are at least partly aware of their limited self-control. Compared to naifs, sophisticates have higher IQs, better educated parents, and are more likely to take up commitment devices. Accounting for both the level and awareness of self-control limitations has predictive power beyond one-dimensional notions of self-control that neglect awareness. Importantly, sophistication fully compensates for self-control problems when choices involve immediate costs and later benefits. Raising people’s awareness of their own self-control limitations may thus assist them in overcoming any adverse consequences. |
| Keywords: | self-control; sophistication; naiveté; commitment devices; present bias |
| JEL: | D91 D01 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp1144&r= |
| By: | - |
| Abstract: | El propósito de esta caja de herramientas es facilitar el diagnóstico de las múltiples dimensiones de la desigualdad social presentes en América Latina y el Caribe, y proporcionar información relevante acerca de políticas sociales implementadas en diversos países de la región que han logrado reducir dicha desigualdad. Asimismo, se da a conocer normativa internacional clave que, desde un enfoque de derechos, contribuye a la formulación e implementación de políticas sociales reductoras de las desigualdades. A partir del diagnóstico realizado, se desprenden desafíos que deben ser enfrentados por medio de las políticas sociales y que dicen relación con la posibilidad de avanzar en la mejora de las condiciones de vida de los grupos poblacionales más rezagados. El conjunto de experiencias identificadas representa una base para explorar y expandir el marco de posibilidades de respuesta a la desigualdad. |
| Keywords: | IGUALDAD, POLITICA SOCIAL, DESARROLLO ECONOMICO, DESARROLLO SOCIAL, ENVEJECIMIENTO, PUEBLOS INDIGENAS, AFRODESCENDIENTES, NIÑOS, ADOLESCENTES, JUVENTUD, PERSONAS CON DISCAPACIDAD, MIGRANTES, DESIGUALDADES REGIONALES, IGUALDAD DE GENERO, EQUALITY, SOCIAL POLICY, ECONOMIC DEVELOPMENT, SOCIAL DEVELOPMENT, AGEING, INDIGENOUS PEOPLES, PEOPLE OF AFRICAN DESCENT, CHILDREN, ADOLESCENTS, YOUTH, PERSONS WITH DISABILITIES, MIGRANTS, REGIONAL DISPARITIES, GENDER EQUALITY |
| Date: | 2021–07–28 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col093:47122&r= |
| By: | van Buggenum, Hugo (Tilburg University, School of Economics and Management) |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:f6e8dc53-9a1b-4f66-9cef-b1efb22ac76c&r= |
| By: | Nagwa Kady |
| Abstract: | Social value is gaining unexpected attention in the property industry, triggered by Sustainable Development Goals, social awareness, ethical consumption, and the demand for business transparency and accountability. As such, businesses have transformed their corporate social responsibility (CSR) strategies from philanthropic to creating shared value- i.e., coupling financial performance to social benefit. Interest in environmental, social, and governance (ESG) has accelerated since 2019 due to the global pandemic. Investors have been keen on integrating ESG standards to measure the sustainability and impact of their investments; however, majority of the focus has been on environmental aspects. Only recently have property market actors paid attention to the social aspect, as the current global health crises exasperated social issues in urban areas thus, instigating awareness on the implications of social conditions on investments’ value. Using empirical data, this study looks into the various formal and informal institutions that aid the production of social value in property development in Amsterdam, The Netherlands. More specifically, it studies the structures and mechanisms (i.e. values, norms, rules) that guide property market actors and their practices, which in turn influence development outcomes, and shape urban areas and its wider communities. I argue that harnessing social value requires a better understanding of the complex institutions that guide social outcomes in property developments and urban areas at large. Data will be collected from policy documents, municipal websites, property market publications, and semi-structured in-depth interviews with actors, thus providing a thorough interpretation of social value and assessment of strategies and interests that shape development outcomes. |
| Keywords: | Corporate Social Responsibility; Property Development; social value; Urban Planning |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2021_108&r= |
| By: | Susan Randolph (University of Connecticut); Shaan Badenhorst (Motu Economic and Public Policy Research) |
| Abstract: | This study identifies the data gaps in the Human Rights Measurement Initiative’s (HRMI’s) standard international data sources limiting the full integration of the 21 Pacific countries into its economic and social rights (ESR) metrics, seeks out alternative data sources and indicators that would enable their fuller integration, and identifies the remaining gaps preventing the full integration of the Pacific countries into HRMI’s ESR data base. The report finds: (1) the key constraint to broadly expanding the coverage of HRMI’s ESR metrics in the Pacific is the lack of constant PPP$ GDP per capita data—nine of the Pacific countries are missing this data, (2) coverage of Pacific countries and territories with constant PPP$ GDP per capita data can be expanded provided funding is available to search alternative data bases, and (3) some expansion of coverage of HRMI’s ESR metrics in the Pacific can be made by substituting net primary school enrolment for adjusted net primary school enrolment and the adult (15-60) survival rate for the Age 65 survival rate for all countries. |
| Keywords: | Economic and social rights, economic and social rights performance, economic welfare, efficiency equity, human rights, international law, Pacific countries, Oceania, country studies, economic development, economic and social rights data, well-being. |
| JEL: | D63 I3 K38 O1 O5 Y1 |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:mtu:wpaper:21_11&r= |
| By: | International Monetary Fund |
| Abstract: | The COVID-19 pandemic inflicted another major shock on the economies of Curaçao and Sint Maarten, which followed category 5 hurricanes in Sint Maarten in 2017 and the spillovers of the Venezuelan crisis on Curaçao. Despite the substantial response measures financed by The Netherlands, the economic contraction in 2020 was severe. |
| Keywords: | article IV consultation discussion; government operation; Curaçao customs; current price; Policy recommendation; Fiscal stance; COVID-19; Caribbean |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2021/186&r= |
| By: | Cohen, Adam; Shaheen, Susan; Broader, Jacquelyn; Martin, Elliot |
| Abstract: | The Federal Transit Administration’s (FTA) Mobility on Demand (MOD) Sandbox Program provides a venue through which integrated MOD concepts and strategies, supported through local partnerships, are demonstrated in real-world settings. This case study documents lessons learned from the Chicago Transit Authority (CTA) MOD Sandbox Demonstration, called Ventra–Divvy Integration. The case study is a part of an independent evaluation of the MOD Sandbox Demonstrations sponsored by the USDOT Intelligent Transportation Systems Joint Program Office (ITS JPO) and FTA. The case study includes background on CTA’s MOD Sandbox Demonstration, technical and institutional challenges encountered in the demonstration’s first phase, payment integration and unbanked access as part of the second phase of the demonstration, and discussion of lessons learned and recommended practices identified from this demonstration. |
| Keywords: | Engineering, Mobility on Demand, MOD, sandbox, shared mobility, mobility as a service, independent evaluation, bikesharing, micromobility, payment, integration |
| Date: | 2021–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt2679828b&r= |
| By: | Isaac Baley; Lars Ljungqvist; Thomas J. Sargent |
| Abstract: | Although they are studied too rarely, returns to labor mobility transmit important forces that decisively shape outcomes in macro-labor models. By focusing on returns to labor mobility, this paper sheds new light on calibrations of influential macro-labor studies and resolves an issue about the turbulence-theoretic explanation of trans-Atlantic unemployment experiences. It does so by invoking a cross-phenomenon restriction - in our case, how returns to labor mobility determine effects on unemployment of changes in layoff costs, on the one hand, and changes in quit turbulence, on the other hand. We also spotlight two distinct perspectives and associated sources of data: one from labor economics and another from the economics of industrial organization. Ultimately, we are reminded of the rule that new theories “must not throw out all the successes of former theories. . . . to preserve the successes of the past is not only a constraint, but also a guide. |
| Keywords: | labor mobility, quits, turnover, layoff cost, turbulence, unemployment, human capital, skills, matching model, search-island model. |
| JEL: | E24 J63 J64 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:upf:upfgen:1798&r= |
| By: | Dietz, Simon; Rising, James; Stoerk, Thomas; Wagner, Gernot |
| Abstract: | Climate scientists have long emphasized the importance of climate tipping points like thawing permafrost, ice sheet disintegration, and changes in atmospheric circulation. Yet, save for a few fragmented studies, climate economics has either ignored them or represented them in highly stylized ways. We provide unified estimates of the economic impacts of all eight climate tipping points covered in the economic literature so far using a meta-analytic integrated assessment model (IAM) with a modular structure. The model includes national-level climate damages from rising temperatures and sea levels for 180 countries, calibrated on detailed econometric evidence and simulation modeling. Collectively, climate tipping points increase the social cost of carbon (SCC) by ∼25% in our main specification. The distribution is positively skewed, however. We estimate an ∼10% chance of climate tipping points more than doubling the SCC. Accordingly, climate tipping points increase global economic risk. A spatial analysis shows that they increase economic losses almost everywhere. The tipping points with the largest effects are dissociation of ocean methane hydrates and thawing permafrost. Most of our numbers are probable underestimates, given that some tipping points, tipping point interactions, and impact channels have not been covered in the literature so far; however, our method of structural meta-analysis means that future modeling of climate tipping points can be integrated with relative ease, and we present a reduced-form tipping points damage function that could be incorporated in other IAMs. |
| Keywords: | climate risk; climate tipping points; integrated assessment model; social cost of carbon |
| JEL: | J1 |
| Date: | 2021–08–16 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111807&r= |
| By: | Yeim Tanrvermi; Esra Ural Keskin; Harun Tanrivermis |
| Abstract: | The investments for the development of thermal timeshare facilities have started to grow rapidly. Timeshare property can be defined as a guaranteed, transferable and alternative right that allows its owner(s) to have a limited-term vacation, guarantees to spend at the same time and place every year, provides comfort and legally registered in the land registry. Timeshare properties are used only during a certain period of the year, leasing the remaining times to prevent the facilities from being idle, and this investment model allows a significant contribution to the local economy through the right holders. In this study, the development of timeshare investments in the field of thermal tourism has been examined in general, and in the second stage, interviews were conducted with the right holders and investors of timeshare investments in selected districts of Ankara Province. According to the Turkish Legal System ,the development and management of timeshare investment projects, the buildings and independent sections in the timeshare system must be residential properties, the beneficiary period of each property right holders should be not less than 15 days, the timeshare right can be transferred and left as a heritage to heirs, the facilities must be furnished with the annual maintenance-repair and other operating expenses equally shared, the facilities can be rented in case it cannot be used by the right holders, and the management of the facilities must be realized in accordance with the legal regulations regarding the condominium properties. The research results represent that in timeshare projects based on a condominium-principled ownership system; the total present value of the property price paid by the right owners for a certain use in the selected period of the year and the annual operating expenses are much higher than the present value of the annual rental prices, there is an option to have a holiday in comfortable conditions with the sum of the current value of the annual operating expenses and the cost of the timeshare acquisition, and consequently, timeshare investments are not rational. In the districts where field studies were conducted, although the rental prices/fees and sales values of the real estate subject to timeshare properties are 2-3 times higher than the equivalent properties in the district centre, it has been determined that the attraction of timeshare investments is low for the right holders. It should be emphasized that timeshare facilities need to be analyzed together with both timeshare investor and project developer, and that project development, appraisals, financing, construction, facility and property management services are carried out under the responsibility of real estate development and management experts to increase the project and investment success. |
| Keywords: | condominium and timeshare investments; facility and asset management.; Geothermal resources and thermal facility projects; Project Appraisal |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2021_225&r= |
| By: | A. Arrighetti; F. Landini |
| Abstract: | The stagnation of investments and its causes have attracted great attention in the recent economic debate. In this paper we show that the flattening of the capital formation rate at the firm level is not due to lower average propensity to invest. Rather, it is the result of growing heterogeneity of choices among firms. While a subset of firms is oriented towards increasing investments, another group substantially divest. The result is a polarization of conducts that tend to cancel each other out, resulting in a flattening of aggregate investment. We argue that this asymmetry in firm’s decisions depends on two main factors. The first one is the diversity of corporate strategies, which firms have developed in the past. The second driver is managerial discretion, that play an important role in the adoption of specific investment / divestment trajectories when faced with a recession. The results of our empirical analysis provide strong supports for our hypotheses: after controlling for contextual and firm-specific structural, financial and demographic variables, corporate strategies and managerial discretion in the allocation of liquid assets explain large part of the heterogeneity in investment decisions during the recession. Policy implications are discussed. |
| Keywords: | Fixed investments; Capital formation; Corporate strategies; Resorce based view; Firms heterogeneity; Managerial discretion; Great Recession; Manufacturing; Italy |
| JEL: | D22 D25 L22 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:par:dipeco:2021-ep01&r= |
| By: | Rodes Sanchez, M.; Rachev, B.; Spencer, J.; Sharma, I.; Tantri, A.; Towse, A.; Mitrovich, R.; Steuten, L. |
| Abstract: | By placing a strain on health care systems and the global economy, the COVID-19 pandemic clearly shows the need to more comprehensively understand both supply- and demand-side aspects of a "healthy" vaccines market that can meet public health demand over time and across dynamic events. The goal of a healthy vaccines market, as defined for this study, is to support sustainable innovation and equitable access to address public health needs. Current frameworks that describe the global vaccines market, however, focus primarily on demand-side activities in low- and lower-middle income countries. Further, they do not fully reflect the interconnectedness of national and regional vaccine markets that comprise the global vaccines ecosystem. They do not account for spill-over effects of market-shaping activities (e.g. demand forecasting and procurement) across markets and across time. This motivated the development of a more comprehensive Healthy Vaccines Market Framework (HVMF), based on literature review and expert interviews, and applied this to the COVID-19 pandemic as a case study analysis. The HVMF shows how the characteristics of a healthy vaccine market hinge on supply- and demand-side activities and policies that cut across multiple markets. It helps illustrate how challenges in the global vaccines market may be rooted in multiple factors across a market and how market-shaping interventions aimed at addressing a single challenge in a single market can strengthen or undermine the overall health of the global vaccines market in the short- and long-term. Another critical component of the HVMF is that it draws attention to the diverse set of stakeholders actively engaged in market-shaping activities at the national, regional, and global levels. Given such a complex set of dynamics, it is critical that all actors shaping the global vaccines market understand the broader implications and interconnectedness of individual supply- and demand-side activities and how they shape the global marketplace collectively. In working towards a sustainable, healthy market for vaccines, the HVMF can serve as a comprehensive framework to support policy dialogue and decision-making. |
| Keywords: | Economics of Innovation |
| JEL: | I1 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ohe:conrep:002359&r= |
| By: | Kundu, Rajendra P. (Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University); Pandey, Siddhigyan (Jindal School of Liberal Arts and Humanities, O.P. Jindal Global University) |
| Abstract: | In this paper we consider an n-player simultaneous move game on a fixed network, in which each player chooses her investment level in each of m goods that are non-rivalrous and non-excludable across links in the network. We analyze the existence, stability and welfare properties of PSNEs of the game. Our results demonstrate that while every game necessarily has a specialized equilibrium, the stability of equilibrium profiles and the existence of specialized equilibria in which specialization is dispersed depend crucially on the network structure. We also provide some interesting welfare implications relating to concentration of specialization. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:npf:wpaper:21/345&r= |
| By: | Luca Fontanelli; Mattia Guerini; Mauro Napoletano |
| Abstract: | We build a simple dynamic model to study the effects of technological learning, market selection and international competition in the determination of export flows and market shares. The model features two countries populated by firms with heterogeneous productivity levels and sales. Market selection in each country is driven by a finite pairwise Polya urn process. We show that market selection leads either to a national or to an international monopoly in presence of a static distribution of firm productivity levels. We then incorporate firm learning and entry-exit in the model and we show that the market structure does not converge to a monopoly. In addition, we show that the extended model is able to jointly reproduce a wide ensemble of stylized facts concerning intra-industry trade, industry and firm dynamics. |
| Keywords: | International trade; industrial dynamics; firm dynamics; market selection; Polya urn. |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2021/27&r= |
| By: | François Gardes (Centre d'Economie de la Sorbonne, Paris School of Economics & Western Catholic University) |
| Abstract: | The article proposes an explicit modelization of households behavior by describing the possible relationship between the inter-temporal substitution rate and the opportunity cost of time which could afford the missing link between consumers' choices and macro variables in an Austrian trade cycle tradition. The changes of the value of time during expansions and recessions involve direct and indirect changes of households' demand and saving which create shadow prices. The variations of shadow costs are related to the competitivity of markets restoring equilibria by means of associated changes in monetary prices |
| Keywords: | Inter-temporal substitution rate; originary interest, psychological interest rate; psychological time; opportunity cost of time; austrian trade cycle |
| JEL: | D31 J22 |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:21025&r= |
| By: | Acuff, Christopher |
| Abstract: | Research on the impacts of city-county consolidation often focus on issues relating to efficiency, effectiveness, and economic development; yet, relatively few studies have addressed the issue of racial and ethnic minority representation. While existing research is limited, findings indicate that consolidating city and county governments dilutes minority voting strength and has a disparate impact on minority representation. However, it is not clear if this is a nationwide trend, particularly in preclearance states previously covered by the Voting Rights Act. Thus, the question becomes, does consolidation negatively affect minority representation, and to what extent? This study employs a quasi-experimental interrupted time-series analysis in order to ascertain the overall impact of consolidation on the descriptive representation of African Americans since 1965. Results indicate that while representation has increased in recent decades, there are discernible declines in following consolidation, and noticeable representational disparities in counties previously covered by the Voting Rights Act. |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:bupfs&r= |
| By: | Bardt, Hubertus; Grömling, Michael; Maselli, Ilaria |
| Abstract: | Nach dem erheblichen Einbruch des privaten Verbrauchs im Jahr 2020 war auch das erste Quartal 2021 von einer geringen Konsumaktivität geprägt. Der erneute Lockdown seit November 2020 hat sowohl die Konsummöglichkeiten begrenzt als auch die Konsumneigung ausgebremst. Mit den Lockerungen und einer sich verbessernden Infektionslage in Deutschland hat sich die Konsumlaune im zweiten Quartal 2021 auf breiter Basis erholt. Das TCB-IW-Verbrauchervertrauen ist deutlich angestiegen und liegt bereits wieder über dem Niveau von vor der Pandemie. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwkkur:492021&r= |
| By: | Ahrsjö, Ulrika (Dept. of Economics, Stockholm University); Niknami, Susan (Dept. of Economics, Stockholm University); Palme, Mårten (Dept. of Economics, Stockholm University) |
| Abstract: | We estimate the change in the gender wage gap between 1968 and 2010 in Sweden accounting for (1) changes in the intensive margin of labour supply; (2) changes in the overall wage inequality; (3) changes in selection into the labor market using parametric and non-parametric selection corrections. Our results show that between 1968 and 1991, about half of the changes in the gender wage gap can be attributed to changes in the overall wage distribution. Conversely, changes in the wage distribution in 1991-2010 masks a larger closure of the gender wage gap. Our corrections for selection into the labor force suggest that uncorrected estimates miss about half of the around 20 percentage points decrease in the gender wage gap over the 1968-2010 period. |
| Keywords: | Gender pay gap; wage gap; gender inequality; selective samples |
| JEL: | J16 J22 J31 J51 J71 |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:sunrpe:2021_0003&r= |
| By: | Wallen, Kenneth (University of Idaho); Hammell, Abbey (University of Minnesota); Dentzman, Katherine |
| Abstract: | The survey commons is a global common-pool resource that consists of all populations of potential survey participants that researchers share. As survey research methodology and technology advances, the survey commons has become more accessible and used by an ever-growing variety of professional and non-professional researchers, which creates a climate for potential survey participants of seemingly constant requests to complete various types of questionnaires. Among other factors, the frequency of survey requests likely influences burden, fatigue, and data quality. Yet, few studies have explored the frequency and characteristics of survey requests. In contribution to this growing research area, we conducted an exploratory diary study of survey requests among research professionals for a 1-month period. Participants tracked survey request dates, contact mode, response mode, title, sponsor, host, and completion progress. We observed participants receive a survey request every other day, on average, but only fully completed one-quarter of requests. Marketing surveys were the primary request source, the main contact mode was email, and the main response mode was web-based. While marketing surveys were the most frequently experienced by participants, they also had the lowest completion rate; administrative and academic survey requests had the highest completion rate. Overall, our exploratory diary study told an intriguing story of the quantity and characteristics of survey requests among a select population and adds to growing interests in survey request inquiry. |
| Date: | 2021–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:mrebz&r= |
| By: | Moffitt, Robert (Johns Hopkins University, Department of Economics); Ziliak, James |
| Abstract: | We examine trends in employment, earnings, and incomes over the last two decades in the United States, and how the safety net has responded to changing fortunes, including the shutdown of the economy in response to the Covid-19 Pandemic. The U.S. safety net is a patchwork of different programs providing in-kind as well as cash benefits and had many holes prior to the Pandemic. In addition, few of the programs are designed explicitly as automatic stabilizers. We show that the safety net response to employment losses in the Covid-19 Pandemic largely consists only of increased support from unemployment insurance and food assistance programs, an inadequate response compared to the magnitude of the downturn. We discuss options to reform social assistance in America to provide more robust income floors in times of economic downturns. |
| Keywords: | COVID-19, safety net, welfare |
| Date: | 2020–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:jhu:papers:64317&r= |
| By: | Karl-Friedrich Keunecke; Hunter Kuhlwein; Cay Oertel |
| Abstract: | Autoregressive heteroscedastic effects in financial time series have been subject to a broad field of applied econometrics. Both academic research as well as the industry apply GARCH processes to real estate data with previous investigation mostly focused on securitized real estate positions. So far, the common approach in the literature has been to assume normal distribution of the innovation term for the GARCH modelling of direct real estate markets (Miles, 2008). The specified assumption of normality however falls short of the data characteristics exhibited by direct real estate markets, such as returns of real estate prices explicitly not normally distributed and better characterized by a more leptokurtic, skewed distribution (Schindler, 2009). Ghahramani and Thavaneswaran (2007) point out that typically the innovation distribution is selected without further justification. Consequently, the omission of a priori assumptions about the innovation term distributions being fit to direct real estate leading to misspecification and -parameterization of GARCH models is the research aim of this study. The employed analysis will utilize monthly transaction-based data for ten US property market subsets, whilst observing a window of time to encompass different market conditions and volatility regimes (Perlin et al., 2021). Determining how ARCH effects might differ across different US real estate submarkets as well as major and non-major markets builds on and extends previous research focused on geographical disaggregation (see Crawford and Fratantoni, 2003; Dolde and Tirtioglu, 1997; Miles, 2008; Schindler, 2009). Subsequently fitting and estimating each data subset with a conditionally normally distributed GARCH model will be juxtaposed by employing a variety of innovation distributions to the data. It follows the central hypothesis of this paper, that the goodness of fit for GARCH models can be improved by allowing for the conditional distribution to be modeled as a flexible a priori assumption. Investigating the differing goodness of fit for the models and employing the most appropriate models to re-estimate the GARCH parameters will allow an analysis of the differences in volatility clustering effects to the model employing normally distributed innovations. The aim is to show empirically, that non-normal innovation term distribution leads to a potentially better goodness of fit of the GARCH model. The utilization of a priori assumptions of GARCH model specification is of high importance not only for portfolio management of investors, but also risk management for economic institutions such as central banks and mortgage banks (Schindler, 2009). To the best of the authors’ knowledge, there is no study which scientifically examines the innovation term distribution of GARCH models of direct real estate investments. This paper aims to provide a better understanding of the influence a priori assumptions of the innovation term can take to increase the validity of volatility models for direct real estate investments. |
| Keywords: | Capital Values; GARCH; Innovation term distribution; Volatility modeling |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2021_75&r= |
| By: | Susan Randolph (University of Connecticut); Shaan Badenhorst (Motu Economic and Public Policy Research) |
| Abstract: | This paper explains and transmits a database and summarises the results of the Human Rights Measurement Initiative’s (HRMI’s) efforts to more fully integrate the 21 Pacific countries (excluding New Zealand and Australia) into HRMI’s economic and social rights (ESR) metrics. It also explores the extent of bias in country scores when per capita Gross National Income (GNI) substantially exceeds per capita Gross Domestic Product (GDP) and the potential to expand coverage by substituting constant USD GDP data for constant PPP$ GDP data. The report finds: (1) There are opportunities to substantially improve economic and social right enjoyment in the Pacific even in the absence of per capita income growth, (2) the range in economic and social right performance scores observed across the Pacific countries indicates there is considerable scope for countries to learn from each other what approaches hold promise — countries scoring poorly on one right can look to the policies and structures in place that have enabled other countries to achieve good scores on the same right, (3) in countries whose GNI substantially exceeds their GDP, HRMI’s economic and social rights scores are upward biased, more so, the greater the gap between GNI and GDP, and (4) for those countries without PPP$ per capita income data, the computation of a USD variant of HRMI’s ESR metrics allows one to gain some insight, albeit imperfect, into their economic and social rights performance. |
| Keywords: | Economic and social rights, human rights, Pacific countries, Pacific region, economic and social rights performance, country studies, economic development, economic and social rights data |
| JEL: | I3 O1 O2 O5 Y1 |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:mtu:wpaper:21_10&r= |
| By: | John C. Beghin; Christopher R. Gustafson |
| Abstract: | We review the emerging international body of evidence on attitudes and willingness to pay (WTP) for novel foods produced with New Plant Engineering Techniques (NPETs). NPETs include genome/gene editing, cisgenesis, intragenesis, RNA interference and others. These novel foods are often beneficial for the environment and human health and more sustainable under increasingly prevalent climate extremes. These techniques can also improve animal welfare and disease resistance when applied to animals. Despite these promising attributes, evidence suggests that many, but not all consumers, discount these novel foods relative to conventional ones. Our systematic review sorts out findings to identify conditioning factors which can increase the acceptance of and WTP for these novel foods in a significant segment of consumers. International patterns of acceptance are identified. We also analyze how information and knowledge interact with consumer acceptance of these novel foods and technologies. Heterogeneity of consumers across cultures and borders, and in attitudes towards science and innovation emerges as key determinants of acceptance and WTP. Acceptance and WTP tend to increase when beneficial attributes-as opposed to producer-oriented cost-saving attributes-are generated by NPETs. NPETs improved foods are systematically less discounted than transgenic foods. Most of the valuation elicitations are based on hypothetical experiments and surveys and await validation through revealed preferences in actual purchases in food retailing environments. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ias:cpaper:21-wp621&r= |
| By: | Daniel Houser (Interdisciplinary Center for Economic Science and Department of Economics, George Mason University); Jian Song (Interdisciplinary Center for Economic Science and Department of Economics, George Mason University) |
| Abstract: | Under optimal tournament design, we would expect agents to exert identical effort regardless of the shape of the contest function’s error component. We report data from laboratory experiments that provide a first test of this prediction. We find that efforts do not significantly differ when the shock distribution exhibits negative skewness versus a uniform distribution; however, subjects react substantially differently to random shock realizations under different treatments. Specifically, tournament winners demonstrate stronger reactions, economically and statistically, to negatively-skewed shocks than to uniform shocks. Meanwhile, tournament losers are less likely to be affected by negatively-skewed shocks. Our results highlight the importance of accounting for the influence of the shape of the shock distribution on a contest participant’s effort. |
| Keywords: | Asymmetric random shock, Tournament, Winner, Loser, Laboratory experiment |
| JEL: | D90 M52 C90 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:gms:wpaper:1081&r= |
| By: | Richard Arena (Université Côte d'Azur, France; GREDEG CNRS); Muriel Dal Pont Legrand (Université Côte d'Azur, France; GREDEG CNRS); Roger Guesnerie (Collège de France) |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2021-32&r= |
| By: | Valerie Vandermeulen; Werner Roeger |
| Abstract: | In the aftermath of the financial crisis, it had become clear the Euro Area was suffering from insufficient investment. Actual capital stock was below benchmark capital, the amount of capital you need to support trend labour and total factor productivity (TFP) growth rates. The current COVID-19 pandemic might enlarge the gap between benchmark and actual capital, since both the private and public sector are facing limitations to invest. In the current paper, benchmark capital is estimated based on trend supply side conditions and trend in capital and goods market frictions, to investigate whether such a gap exists in the Euro Area and the US and how it has evolved over time. The paper is based on the European Commission’s production function method and uses trend labour supply and TFP as basis for trend supply side conditions. The first order condition of the Cobb-Douglas production function are used to calculate goods market and capital market frictions. Capital costs are estimated using world interest rate as a rental price of capital, adjusted for depreciation, taxes and relative investment prices. In the past, benchmark capital was driven by strong growth in supply side factors, but since trend labour and TFP growth rates have declined, capital and goods market frictions are becoming more important in explaining benchmark capital growth. The paper shows that after the 2008 crisis, a gap occurred between benchmark capital and actual capital. As of 2012, the gap started to close, but benchmark capital growth was very low in the Euro Area, much below that of the US. Just before the current 2020 crisis, the capital gap was closed in the Euro Area and was positive in the US, but it is expected that actual capital growth might stop again due to the limitations to private and public investment. |
| JEL: | D1 D2 D3 E6 H2 H21 J08 J2 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:euf:dispap:145&r= |
| By: | H. Spencer Banzhaf |
| Abstract: | The Value of Statistical Life (VSL) is arguably the most important number in benefit-cost analyses of environmental, health, and transportation policies. However, agencies have used a wide range of VSL values. One reason may be the embarrassment of riches when it comes to VSL studies. While meta-analysis is a standard way to synthesize information across studies, we now have multiple competing meta-analyses and reviews. Thus, to analysts, picking one such meta-analysis may feel as hard as picking a single "best study." This paper responds by taking the meta-analysis another step, estimating a meta-analysis (or mixture distribution) of six meta-analyses. The baseline model yields a central VSL of $7.0m, with a 90% confidence interval of $2.4m to $11.2m. The provided code allows users to easily change subjective weights on the studies, add new studies, or change adjustments for income, inflation, and latency. |
| JEL: | I12 I18 J17 J31 K32 Q51 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29185&r= |
| By: | Matthias Burgert; Philipp Pfeiffer; Werner Roeger |
| Abstract: | We estimate an open economy DSGE model to study the fiscal policy implications of downward nominal wage rigidity (DNWR) in a monetary union. DNWR has significantly exacerbated the recession in the southern euro area countries and is important for the design of fiscal policy. We show that a cut in social security contributions paid by employers (equivalent to wage subsidies) is particularly effective in a deep recession with limited wage adjustment. Such cuts strengthen domestic demand and international competitiveness. Compared to government expenditure increases, the reduction in social security contributions provides more persistent growth effects and enhances the fiscal position. Non-linear estimation methods establish a strong state-dependence of policy. |
| Keywords: | Downward nominal wage rigidity, currency union, fiscal policy, nonlinear estimation |
| JEL: | E3 F41 F45 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:snb:snbwpa:2021-16&r= |
| By: | Gallopin, Jean-Baptiste; Thomas, Eddie; Detzner, Sarah; De Waal, Alex |
| Abstract: | This paper examines the continuities and changes in Sudan’s political economy and political marketplace in the two years since the popular uprising that overthrew the regime of former president Omar alBashir, and the subsequent formation of a military-civilian transitional government. The government of Sovereignty Council Chairman Abd al-Fattah al-Burhan and Prime Minister Abdalla Hamdok has the stated goals (among others) of transitioning to full civilian government, achieving peace with armed groups, and stabilizing and reforming the economy. Progress has been achieved on all these fronts. Nonetheless, key aspects of Sudan’s political economy remain unchanged, especially underlying hyper-exploitation of labour and natural resources, a prominent role for businesses associated with the leaders of the security sector, and peace agreements incentivized by promises of material rewards provided through governmental office. Transactional politics continue to trump institutional and civic politics, making it harder to reform these aspects of an inequitable and predatory economy. |
| JEL: | N0 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111791&r= |
| By: | Urata, Shujiro (Asian Development Bank Institute); Baek, Youngmin (Asian Development Bank Institute) |
| Abstract: | We examine the impact of local firms’ participation in global value chains (GVCs) on productivity by considering three different patterns of GVC participation. We conducted a DID-PSM estimation involving three countries, Indonesia, the Philippines, and Viet Nam, and 17 manufacturing sectors in 2009 and 2015. We found an endogenous relationship between firm productivity and GVC participation: firms that enter GVCs have high productivity before participating in the GVCs (selection effect), and only Indonesian firms which entered GVCs had a high productivity growth after joining GVCs (learning effect). These two effects were only found for firms which both import intermediate goods and export output, and not for firms which only either import or export. We also found that indirect exporting does not improve a local firm’s productivity. We give several recommendations to help firms and governments facilitate the participation of firms in GVCs. |
| Keywords: | global value chains; productivity |
| JEL: | D24 F14 L11 |
| Date: | 2021–03–31 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:1245&r= |
| By: | Paxman, Andrew |
| Abstract: | The purpose of this paper is to use Mexican census data to gauge as much as possible the impact of SIL missionary-linguists on local-level literacy, Spanish-acquisition, and material change. This is a longitudinal quantitative study, starting with the census of 1940 and ending with that of 1970. Analysis of census figures is complemented by perusal of the existing literature (personal, anthropological, historical), linguistic materials digitized by SIL and available at its website, and assistance with documents from the SIL Mexico Archive in Arizona. |
| Keywords: | Protestant, missionary, indigenous, Mexico, census, literacy, disposable income, Summer Institute of Linguistucs, |
| JEL: | I20 I24 I25 N36 N96 |
| Date: | 2021–08–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109187&r= |
| By: | Charles Collet (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Pascal Gastineau (AME-SPLOTT - Systèmes Productifs, Logistique, Organisation des Transports et Travail - Université Gustave Eiffel); Benoit Chèze (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles); Frederic Martinez (AME-DCM - Dynamiques des changements de mobilité - Université de Lyon - Université Gustave Eiffel); Pierre-Alexandre Mahieu (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - IEMN-IAE Nantes - Institut d'Économie et de Management de Nantes - Institut d'Administration des Entreprises - Nantes - UN - Université de Nantes - IUML - FR 3473 Institut universitaire Mer et Littoral - UM - Le Mans Université - UA - Université d'Angers - UN - Université de Nantes - ECN - École Centrale de Nantes - UBS - Université de Bretagne Sud - IFREMER - Institut Français de Recherche pour l'Exploitation de la Mer - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The transportation sector constitutes one of the main contributors to CO2 emissions. Several incentive measures have been already proposed by economists to mitigate these emissions. But, as we all know, these tools have met with mixed success. This paper proposes the use of attribute valence framing, i.e. a description of the same object/characteristics positively or negatively, in order to reduce CO2 emissions. This so-called nudge is easier to implement than more traditional tools, such as taxation, and does not rely on the stringent assumption that individuals are fully rational. The findings from a discrete choice experiment focusing on long-distance travel choice are reported herein. Results indicate that a loss framing on CO2 emissions significantly increases the respondents' practice of pro-environmental behaviors. The framing effect is larger when applied to CO2 than to travel duration (+50% and +30% of the willingness to pay, respectively). In employing psychological constructs, it is shown that preferences are affected by individuals' psychological features (i.e. a preference for the future and environmental self-identity), and moreover that the magnitude of the framing effect depends on individuals' motivational strategies. |
| Keywords: | Framing effect,Discrete choice experiment,Pro-environmental behavior,Travelers' willingness to pay |
| Date: | 2021–08–18 |
| URL: | http://d.repec.org/n?u=RePEc:hal:ciredw:hal-03321706&r= |
| By: | François Gardes (Centre d'Economie de la Sorbonne, Paris School of Economics and Western Catholic University) |
| Abstract: | Using a generalization of Becker's time allocation model in order to estimate the shadow price of time, we explore the relationship between the inter-temporal substitution rate and the opportunity cost of time, allowing the endogenization of the time preference from the estimation of the value of time |
| Keywords: | Time Allocation; Inter-temporal substitution rate; psychological rate of interest; opportunity cost of time |
| JEL: | D31 J22 |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:21019&r= |
| By: | Jaller, Miguel |
| Abstract: | The curbside is valuable real estate in cities, providing private vehicle parking, pick-up/drop-off areas, public transit stops, freight loading/unloading zones, and space for pedestrians and bicyclists. Shortages and poor management of curb space can cause congestion and increased emissions due to vehicles searching for parking and can create unsafe conditions from vehicles double parking. Traditional curbside planning strategies have relied on land use–based demand estimates to allocate access priority to the curb, such as pedestrian and transit in residential areas and commercial vehicles in commercial and industrial zones. Recently, pilots in San Francisco, Washington, D.C., and elsewhere have used new technologies to provide information to users about space availability or dynamically price the curb. Researchers at the University of California, Davis conducted a review of practices in curbside management, and they conducted simulations to evaluate the impact of different management and design strategies on travel time, congestion, vehicle travel, and emissions in residential, commercial, and mixed-use neighborhoods in San Francisco. This policy brief summarizes the findings from that research and provides policy implications. View the NCST Project Webpage |
| Keywords: | Engineering, Social and Behavioral Sciences, Case studies, Complete streets, Curb side parking, Delivery service, Land use, Literature reviews, Parking demand, Ridesourcing, Simulation, Urban areas |
| Date: | 2021–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt7q69b37f&r= |
| By: | Beghin, John C.; Gustafson, Christopher R. |
| Abstract: | We review the emerging international body of evidence on attitudes and willingness to 10 pay (WTP) for novel foods produced with New Plant Engineering Techniques (NPETs). NPETs include genome/gene editing, cisgenesis, intragenesis, RNA interference and others. These novel foods are often beneficial for the environment and human health and more sustainable under increasingly prevalent climate extremes. These techniques can also improve animal welfare and disease resistance when applied to animals. Despite these promising attributes, evidence suggests that many, but not all consumers, discount these novel foods relative to conventional ones. Our systematic review sorts out findings to identify conditioning factors which can increase the acceptance of and WTP for these novel foods in a significant segment of consumers. International patterns of acceptance are identified. We also analyze how information and knowledge interact with consumer acceptance of these novel foods and technologies. Heterogeneity of consumers across cultures and borders, and in attitudes towards science and innovation emerges as key determinants of acceptance and WTP. Acceptance and WTP tend to increase when beneficial attributes—as opposed to producer-oriented cost-saving attributes—are generated by NPETs. NPETs improved foods are systematically less discounted than transgenic foods. Most of the valuation elicitations are based on hypothetical experiments and surveys and await validation through revealed preferences in actual purchases in food retailing environments. |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:isu:genstf:202108250700001133&r= |
| By: | Liang, Yanlong |
| Abstract: |