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on Islamic Finance |
| By: | , Gustani |
| Abstract: | Buku ―Islamic Corporate Governance (I-CG) dan Islamic Corporate Social Responsibility (I-CSR) : Teori dan Praktik‖ ini merupakan hasil adopsi dari Tesis penulis pada program studi Magister Akuntansi Universitas Padjadjaran, Bandung dengan judul ―Analisis Pengaruh Pengungkapan Islamic Corporate Governance (ICG) Dan Islamic Corporate Social Responsibility (ICSR) Terhadap Disiplin Pasar dengan Kinerja Keuangan Sebagai Variabel Intervening (Studi Empiris pada Bank Syariah di NegaraNegara QISMUT)‖. Buku ini terdiri dari 4 Bab, yang meliputi Bab 1 tentang Pendahuluan, Bab 2 tentang Islamic Corporate Governance (I-CG), Bab 3 tentang Islamic Corporate Social Responsibility (I-CSR), dan Bab 4 Studi Empiris: Pengaruh I-CG dan I-CSR Terhadap Disiplin Pasar Bank Syariah Di Negara – Negara QISMUT. |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:osf:thesis:jszry&r= |
| By: | Christoph Albert; Albrecht Glitz; Joan Llull |
| Abstract: | In this paper, we show that the wage assimilation of immigrants is the result of the intricate interplay between individual skill accumulation and dynamic equilibrium effects in the labor market. When immigrants and natives are imperfect substitutes, increasing immigrant inflows widen the wage gap between them. Using a simple production function framework, we show that this labor market competition channel can explain about one quarter of the large increase in the average immigrant-native wage gap in the United States between the 1960s and 1990s arrival cohorts. Once competition effects and compositional changes in education and region of origin are accounted for, we find that the unobservable skills of newly arriving immigrants increased over time rather than decreased as traditionally argued in the literature. We corroborate this finding by documenting closely matching patterns for immigrants' English language proficiency. |
| Keywords: | Immigrant assimilation, labor market competition, cohort sizes, imperfect substitution, general and specific skills |
| JEL: | J21 J22 J31 J61 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:upf:upfgen:1799&r= |
| By: | Forth, John (Cass Business School); Theodoropoulos, Nikolaos (University of Cyprus); Bryson, Alex (University College London) |
| 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: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14697&r= |
| By: | Matthew Agarwala (Bennett Institute for Public Policy, University of Cambridge); Matt Burke (Sheffield Business School, Sheffield Hallam University); Patrycja Klusak (University of East Anglia); Kamiar Mohaddes (Judge Business School, University of Cambridge); Ulrich Volz (SOAS); Dimitri Zenghelis (Unviersity of Cambridge) |
| Keywords: | Sovereign debt, climate change, net zero, transition risk, productivity |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:anj:wpaper:008&r= |
| By: | Sana Rhoudri (UIT - Université Ibn Tofaïl); Lotfi Benazzou (UIT - Université Ibn Tofaïl) |
| Abstract: | The main purpose of this study is to examine the determinants of deposit withdrawal behavior amongst profit-sharing deposit account holders. Based on the Push-Pull-Mooring theory, a qualitative study was conducted, with fifteen personal interviews undertaken with profit-sharing investment depositors selected from three participatory banks using a purposive sampling technique. Assessment of the predictive factors determining deposit withdrawal behavior resulted in three categories. The push factors were found to be, in order of decreasing frequency: (1) Sharia non-compliance risk, (2) lower rate of return, (3) deposit guarantee scheme and (4) customer relationship quality failure. The push factors were labeled as (a) conventional term deposit attractiveness, (b) conventional banks history and (c) number of branches. The mooring factors were found to be: (i) religiosity, (ii) switching costs, (iii) third party influence and (iv) involuntary switching factors. This study has limitations that should be considered for future research. First and foremost, all interviewees were selected by the banks' managers. Moreover, they were identified as individual depositors; thus, they displayed opinions, which may differ from those of corporate depositors. Despite the discussed limitations, the findings generated from this study have important implications for researchers, financial marketing managers as well as the policy makers and regulators. In terms of contribution to the body of knowledge, the study aimed to investigate the predictive factors of deposit withdrawal behavior in another context, that of Morocco, which has not yet been explored in the literature. In addition, the findings of this study are critical to financial marketing managers for strategic marketing programs as it stresses the importance of satisfaction dimensions within a dual banking system, as is the case in Morocco. Furthermore, this study provides great indications to the policy makers and regulators on the perception of the Moroccan investment account depositors, in order to develop policies that could improve the participatory banking system in Morocco. |
| Keywords: | Withdrawal Behavior,Switching Behavior,Profit-Sharing Investment Deposits,Participatory Banks,Push-Pull-Mooring Theory |
| Date: | 2021–07–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03328276&r= |
| By: | Alexandre Berthe (LIRIS - Laboratoire interdisciplinaire de recherche en innovations sociétales - UR2 - Université de Rennes 2 - UNIV-RENNES - Université de Rennes); Jacqueline Candau (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Sylvie Ferrari (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Baptiste Hautdidier (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Vanessa Kuentz-Simonet (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Charlotte Scordia (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Frédéric Zahm (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | L'idée de ce chapitre vise à resituer ces principes de justice dans le champ de l'action publique relative à la protection de la qualité des ressources en eau. Il s'agit d'identifier les principes de justice implicites ou explicites des dispositifs de cette politique publique – donc une politique publique constituée – sans pouvoir affirmer qu'elle ait été explicitement fondée sur ces principes faute d'avoir eu accès aux témoignages des personnes l'ayant élaborée. Dans un premier temps, l'identification a été menée en analysant les textes législatifs européens et nationaux qui en définissent les principaux dispositifs (directive Nitrates et MAE). Elle montre que les principes de justice justifiant l'effort demandé aux agriculteurs varient en fonction de la façon dont le problème de la qualité de l'eau est défini. La traduction de ces principes sur deux territoires (le gave en amont de Pau dans les Pyrénées-Atlantiques et le Thouarsais au nordest des Deux-Sèvres) révèle, dans un deuxième temps, leur ambiguïté notamment lorsqu'ils sont mis en œuvre par les dispositifs de protection des captages dits prioritaires (tel que la zone soumise à contraintes environnementales – ZSCE). À partir d'une lecture en termes d'équité, nous étudions enfin les effets de tels dispositifs publics sur les agriculteurs et les usagers en questionnant notamment la répartition entre les agriculteurs de cet effort demandé et les populations qui en bénéficient. In fine, l'ambiguïté des principes de justice et l'inaccessible équité de leur mise en application amènent à interroger la base constitutive des communautés de justice désignées (agriculteurs, bénéficiaires, producteurs) comme focale heuristique de réflexion sur l'équité et l'efficacité d'une politique publique. |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03337042&r= |
| By: | Mustafa Coban (Institute for Employment Research (IAB), Nürnberg (DE)) |
| Abstract: | This article describes a new Stata command rbprobit for fitting recursive bivariate probit models, which differ from bivariate probit models in allowing the first dependent variable to appear on the right-hand side of the second dependent variable. Although the estimation of model parameters does not differ from the bivariate case, the existing commands biprobit and cmp do not consider the structural model’s recursive nature for postestimation commands. rbprobit estimates the model parameters, computes treatment effects of the first dependent variable and gives the marginal effects of independent variables. In addition, marginal effects can be decomposed into direct and indirect effects if covariates appear in both equations. Moreover, the postestimation commands incorporate the two community-contributed goodness-of-fit tests scoregof and bphltest. Dependent variables of the recursive probit model may be binary, ordinal, or a mixture of both. I present and explain the rbprobit command and the available postestimation commands using data from the European Social Survey. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:20&r= |
| By: | Álvaro A. Gutiérrez-Vargas (Research Centre for Operations Research and Statistics, KU Leuven) |
| Abstract: | Specific econometric models - such as the Cox regression, conditional logistic regression, and panel-data models - have likelihood functions that do not meet the so-called linear-form requirement. That means that the model's overall log-likelihood function does not correspond to the sum of each observation's log-likelihood contribution. Stata's m1 command can fit said models using a particular group of evaluators: the d-family evaluators. Unfortunately, they have some limitations; one is that we cannot directly produce the score functions from the postestimation command predict. This missing feature triggers the need for tailored computational routines from developers that might need those functions to compute, for example, robust variance-covariance matrices. In this talk, I present a way to compute the score functions numerically using Mata's deriv() function with minimum extra programming other than the log-likelihood function. The procedure is exemplified by replicating the robust variance–covariance matrix produced by the clogit command using simulated data. The results show negligible numerical differences (e-09) between the clogit robust variance–covariance matrix and the numerically approximated one using Mata's deriv() function. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:13&r= |
| By: | Christopher F Baum (Boston College; DIW Berlin; CESIS); Miguel Henry (Greylock McKinnon Associates) |
| Abstract: | In an extension of the standard spatial autoregressive (SAR) model, Aquaro, Bailey and Pesaran (ABP, Journal of Applied Econometrics, 2021) introduced a SAR panel model that allows to produce heterogeneous point estimates for each spatial unit. Their methodology has been implemented as the Stata routine hetsar (Belotti, 2021). As the COVID-19 pandemic has evolved in the U.S. since its first outbreak in February 2020 with following resurgences of multiple widespread and severe waves of the pandemic, the level of interactions between geographic units (e.g., states and counties) have differed greatly over time in terms of the prevalence of the disease. Applying ABP’s HETSAR model to 2020 and 2021 COVID-19 data outcomes (confirmed case and death rates) at the state level, we extend our previous spatial econometric analysis (Baum and Henry, 2021) on socioeconomic and demographic factors influencing the spatial spread of COVID-19 confirmed case and death rates in the U.S.A. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:18&r= |
| By: | Leandro Arozamena (Universidad Torcuato Di Tella / CONICET); Juan José Ganuza (Universitat Pompeu Fabra / Barcelona GSE); Federico Weinschelbaum (Universidad Torcuato Di Tella / CONICET) |
| Abstract: | In order to make competition open, fair and transparent, procurement regulations often require equal treatment for all bidders. This paper shows how a favorite supplier can be treated preferentially (opening the door to home bias and corruption) evenwhen explicit discrimination is not allowed. We analyze a procurement setting in which the optimal design of the project to be contracted is unknown. The sponsor has to invest in specifying the project. The larger the investment, the higher the probability that the initial design is optimal. When it is not, a bargaining process between the winning firm and the sponsor takes place. Profits from bargaining are larger for the favorite supplier than for its rivals. Given this comparative advantage, the favored firm bids more aggressively and then, it wins more often than standard firms. Finally, we show that the sponsor invests less in specifying the initial design, when favoritism is stronger. Underinvestment in design specification is a tool for providing a comparative advantage to the favored firm. |
| Keywords: | Auctions, Favoritism, Auction Design, Renegotiation, Corruption |
| JEL: | C72 D44 D82 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:aoz:wpaper:83&r= |
| By: | Guo, Li; Härdle, Wolfgang; Tao, Yubo |
| Abstract: | Cryptocurrencies return cross-predictability and technological similarity yield information on risk propagation and market segmentation. To investigate these effects, we build a timevarying network for cryptocurrencies, based on the evolution of return cross-predictability and technological similarities. We develop a dynamic covariate-assisted spectral clustering method to consistently estimate the latent community structure of cryptocurrencies network that accounts for both sets of information. We demonstrate that investors can achieve better risk diversification by investing in cryptocurrencies from different communities. A cross-sectional portfolio that implements an inter-crypto momentum trading strategy earns a 1.08% daily return. By dissecting the portfolio returns on behavioral factors, we confirm that our results are not driven by behavioral mechanisms. |
| Keywords: | Community detection,Dynamic stochastic blockmodel,Covariates,Co-clustering,Network risk,Momentum |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:irtgdp:2021016&r= |
| By: | Sosson Tadadjeu (University of Dschang , Cameroon); Henri Njangang (University of Dschang , Cameroon); Simplice A. Asongu (Yaoundé, Cameroon); Brice Kamguia (University of Dschang, Cameroon) |
| Abstract: | This paper contributes to the literature by investigating the effect of natural resources on under-five mortality in a sample of 50 African countries over the period 1996 to 2018. We also examine the extent to which governance shapes the relationship between natural resources and under-five mortality. Our results show that natural resources have increased under-five mortality. Resource rents also have detrimental effects on child mortality by age, gender, and the three major causes of infant mortality from infectious diseases. However, an extended analysis of different types of natural resources suggests that point resources (such as oil, natural gas and mineral rents) increase under-five mortality, in contrast to the diffuse resources (such as forest rent). We also find that governance mitigates the positive effect of natural resources on child mortality. Corresponding governance policy thresholds that should be attained in order to reverse the positive effects of natural resources on child mortality are provided. We thus suggest an increase in the funds allocated to the health sector from resource rents and encourage efforts to improve governance standards in sampled countries. |
| Keywords: | Natural resources; Child mortality; Governance; Africa |
| JEL: | J13 O55 Q33 Q34 Q38 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:abh:wpaper:21/027&r= |
| By: | Davillas, Apostolos (University of East Anglia); Jones, Andrew M. (University of York) |
| Abstract: | We designed an experiment to explore the extent of measurement error in body mass index (BMI), when based on self-reported body weight and height. We find that there is a systematic age gradient in the reporting error in BMI, while there is limited evidence of systematic associations with gender, education and income. This is reassuring evidence for the use of self-reported BMI in studies that use it as an outcome, for example, to analyse socioeconomic gradients in obesity. However, our results suggest a complex structure of non-classical measurement error in BMI, depending on both individuals' and within-household peers' true BMI. This may bias studies that use BMI based on self-reported data as a regressor. Common methods to mitigate reporting error in BMI using predictions from corrective equations do not fully eliminate reporting heterogeneity associated with individual and within-household true BMI. Overall, the presence of non-classical error in BMI highlights the importance of collecting measured body weight and height data in large social science datasets. |
| Keywords: | BMI, experiment, measurement error, reporting bias |
| JEL: | I10 C18 C50 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14695&r= |
| By: | Adjani Nourou-Dine Yessoufou (Univers3s - Univers3s - Univers3s); Thierno Bachir Sy (Univers3s - Univers3s - Univers3s); Amadou Tandjigora (Univers3s - Univers3s - Univers3s); Ibrahima Bah (Agence Nationale de la Statistique et de la Démographie - Agence Nationale de la Statistique et de la Démographie) |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03325514&r= |
| By: | Baptiste Hautdidier (UR ETBX - Environnement, territoires et infrastructures - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Yves Schaeffer (UR LESSEM - Laboratoire des EcoSystèmes et des Sociétés en Montagne - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); M. Tivadar (UR LESSEM - Laboratoire des EcoSystèmes et des Sociétés en Montagne - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | , l'objectif du chapitre est double : (i) comparer deux approches originales pour mesurer ces inégalités environnementales d'exposition aux risques, et (ii) fournir des éléments de réponses – à défaut d'une réponse définitive – à la question posée plus haut pour la métropole d'Aix-Marseille-Provence. La première approche empirique considérée est celle suggérée récemment par Schaeffer et Tivadar (2019). Elle s'inspire de la littérature sur la mesure de la ségrégation socio-spatiale et repose sur le calcul d'un indice de centralisation environnementale. La seconde approche mobilise des outils de la statistique du point, les fonctions empiriques de Ripley (1976). Initialement développées pour l'analyse spatiale en écologie et en épidémiologie, elles n'ont été que marginalement appliquées à l'analyse des inégalités environnementales (Fisher et al. 2006). La section qui suit présente notre cas d'étude, les données disponibles, ainsi que nos questions et approches empiriques. Les troisième et quatrième sections présentent en détail nos méthodes et nos résultats. La dernière section discute les résultats obtenus, avant de conclure. |
| Date: | 2021–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03337002&r= |
| By: | Eyring, Henry; Ferguson, Patrick J.; Koppers, Sebastian |
| Abstract: | We use a field experiment in professional sports to compare effects of providing absolute, relative, or both absolute and relative measures in performance reports for employees. Although studies have documented that the provision of these types of measures can benefit performance, theory from economic and accounting literature suggests that it may be optimal for firms to direct employees’ attention to some types of measures by omitting others. In line with this theory, we find that relative performance information alone yields the best performance effects in our setting—that is, that a subset of information (relative performance information) dominates the full information set (absolute and relative performance information together) in boosting performance. In cross-sectional and survey-data analyses, we do not find that restricting the number of measures shown per se benefits performance. Rather, we find that restricting the type of measures shown to convey only relative information increases involvement in peer-performance comparison, benefitting performance. Our findings extend research on weighting of and responses to measures in performance reports. |
| Keywords: | Wiley deal |
| JEL: | M40 |
| Date: | 2021–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:109789&r= |
| By: | Mardatillah, Vira; Susanto, Romi |
| Abstract: | The purpose of the study was to determine the mudharabah financing procedure carried out by PT. Bank Syariah Indonesia, Tbk KC Padang. In analyzing the data, the writer uses qualitative data analysis method as a method that describes descriptively about the mudharabah financing procedure at PT. Bank Syariah Indonesia, Tbk KC Padang. The results of this study there are several stages of the Mudharabah Financing Procedure at Bank Syariah Indonesia, namely the submission of an application for mudharabah financing, analysis of mudharabah financing, the decision to apply for mudharabah financing is divided into two decisions, namely the financing decision is accepted and the financing decision is rejected, if the financing decision is accepted or rejected, it is submitted in writing. by providing clear and wise reasons, then the mudharabah financing agreement, the disbursement of the mudharabah financing, the supervision of the mudharabah financing and the return of the mudharabah financing |
| Date: | 2021–08–23 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:y4hcs&r= |
| By: | Simshauser, P.; Billimoria, F.; Rogers, C. |
| Abstract: | Australia’s National Electricity Market experienced significant growth in variable renewable energy (VRE) investment commitments over the period 2016-2021. A subset of projects experienced material entry frictions which stemmed from inadequate network hosting capacity. In this article we examine the development of non-regulated Renewable Energy Zones (REZ) as a means by which to help guide forward market commitments and produce greater coordination between generation and transmission plant investments. Using an optimisation model comprising 1500MW of transmission network infrastructure, we explore various definitions of a ‘fully subscribed REZ’ given the portfolio benefits associated with complementary wind and solar plant in Southern Queensland. We also examine the conditions by which various proponents would sponsor a non-regulated REZ. When maximising output forms the objective function, full subscription is achieved by developing ~3400MW of solar and wind in roughly equal proportions, accepting that some level of curtailment is an economic result. Conversely, full subscription in which the combined cost of the REZ and VRE plant is minimised is achieved at ~1800MW of VRE. If maximising net cashflows forms the objective function, VRE plant development is complicated by the dynamic nature of spot prices. Specifically, in early stages of VRE development solar is preferred but as its market share rises and value of output falls, wind investments dominate holding technology costs constant. |
| Keywords: | Renewable Energy Zones, renewable generation, transmission investment |
| JEL: | D25 D80 G32 L51 Q41 |
| Date: | 2021–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2164&r= |
| By: | Marc Fleurbaey (PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, 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); Stéphane Zuber (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, 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) |
| Abstract: | Utilitarianism plays a central role in economics, but there is a gap between theory, where it is dominant, and applications, where monetary criteria are often used. For applications, a key di culty for utilitarianism remains to de ne how utilities should be measured and compared across individuals. Drawing on Harsanyi's approach (Harsanyi, 1955) involving choices in risky situations, we introduce a new normalization of utilities that is the only one ensuring that: 1) a transfer from a rich to a poor is welfare enhancing, and 2) populations with more risk averse people have lower welfare. We embed these requirements in a new characterization of utilitarianism and study some implications of this "fair utilitarianism" for risk sharing, collective risk aversion and the design of health policy. |
| Keywords: | Fairness,social risk,utilitarianism |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:pseptp:halshs-01441070&r= |
| By: | Alain Marciano (MRE - Montpellier Recherche en Economie - UM - Université de Montpellier, UM - Université de Montpellier) |
| Abstract: | Buchanan did not write "An Economic Theory of Club" to complement Samuelson's analysis of public goods, but to develop a radically different, form of welfare economics – in which there is no social welfare function and individual utility functions cannot be "read" by external observers. It was the perspective Buchanan adopted to analyze the pricing of public goods and services, and from which he also envisaged clubs. The main feature Buchanan attributed to clubs was to implement a condition that made no sense in Samuelson's framework but that was crucial in Buchanan's and clubs made Samuelson's collective condition useless. Buchanan and Samuelson disagreed over the allocation of the costs of the public good on each individual. To Buchanan, it was by relying on individual's preferences. To Samuelson, by using a social welfare function. This has not much to do with the nature of the good, its "physical properties" to use Buchanan's words. |
| Date: | 2021–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03326422&r= |
| By: | SEKIZAWA Yoichi |
| Abstract: | In this paper, we explored the associations between COVID-19 vaccination and variables including those on socioeconomic status (employment type, household income, educational background, amount of deposits and savings). We used the 4th wave (conducted from 20 to 27 July 2021) of a 5-wave internet survey. Study samples were limited to those aged 40-64. Multivariate logistic regression analyses showed that self-employed workers, non-regular workers, and people not in the labor force were less likely to have been vaccinated than regular employees. Graduates of junior and senior high school only were less likely to have been vaccinated than graduates of four-year colleges. People with lower household income were less likely to have been vaccinated. In addition, people living alone, living with children, and living with parents were less likely to have been vaccinated than those living with a spouse but not with children or parents. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rpdpjp:21017&r= |
| By: | V. Seror (VITROME - Vecteurs - Infections tropicales et méditerranéennes - IRD - Institut de Recherche pour le Développement - AMU - Aix Marseille Université - IRBA - Institut de Recherche Biomédicale des Armées); G. Maradan (ORS PACA - Observatoire régional de la santé Provence-Alpes-Côte d'Azur [Marseille]); E.-H. Ba (VITROME - Vecteurs - Infections tropicales et méditerranéennes - IRD - Institut de Recherche pour le Développement - AMU - Aix Marseille Université - IRBA - Institut de Recherche Biomédicale des Armées); S. Cortaredona (VITROME - Vecteurs - Infections tropicales et méditerranéennes - IRD - Institut de Recherche pour le Développement - AMU - Aix Marseille Université - IRBA - Institut de Recherche Biomédicale des Armées); C. Berenger (ORS PACA - Observatoire régional de la santé Provence-Alpes-Côte d'Azur [Marseille]); Olivier L’haridon (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); C. Sokhna (VITROME - Vecteurs - Infections tropicales et méditerranéennes - IRD - Institut de Recherche pour le Développement - AMU - Aix Marseille Université - IRBA - Institut de Recherche Biomédicale des Armées) |
| Abstract: | Introduction Rural areas are considered safe havens against the increased spread of COVID-19 and associated restrictive measures, especially in contexts where public authorities are not in a position to systematically and substantially ease COVID-19-induced economic shocks. In the current sub-Saharan Africa context, still marked by uncertainty surrounding the spread of COVID-19, we present the protocol of an ongoing longitudinal study aimed at investigating COVID-19-related attitudes, risks perceptions, preventive behaviours and economic impact in rural areas in Senegal. Methods and analysis A prospective randomised longitudinal study of 600 households located in three semiurban villages and nine randomly selected rural villages in the Niakhar area (located 135 km East of Dakar). Three ad hoc phone surveys are administered to 600 heads of households, their housewives in charge of managing the household and a relative living temporarily in the household, respectively. In addition to sharing identical sets of questions on several topics (risks perceptions, attitudes to curfew, attitudes to vaccines, beliefs about COVID-19 infection), the three separate survey questionnaires also include other topics (economic impact, local preventive strategies) whose related questions differ between questionnaires. As analysing evolutions is the study's primary focus, data on all the topics covered will be collected in three waves unless the spread of COVID-19 by mid-2021 justifies extending data collection. The present article presents the study protocol and details about the implementation of the first wave of data collection which started in July 2020. The decision to wait before presenting the protocol was based on the unprecedented context the COVID-19 pandemic. Ethics and dissemination The survey's protocol was approved by the Senegalese National Ethical Committee for Research in Health (131/MSAS/CNERS/Sec) and received authorisation from both the Senegalese Ministry of Health (619/MSAS/DPRS/DR) and the French Commission on Information Technology and Liberties (CNIL 2220771). © Author(s) (or their employer(s)) 2021. Re-use permitted under CC BY-NC. No commercial re-use. See rights and permissions. Published by BMJ. |
| Keywords: | COVID-19,health economics,public health,tropical medicine |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03335734&r= |
| By: | Gale, Fred |
| Abstract: | This report examines lists of applicants for wheat tariff-rate quota (TRQ) for the years 2015 to 2021 to characterize the potential demand for imported wheat in China. More than 900 companies in China applied for quota from 2015 to 2021, and 171 applied 7 years in a row. Although most applicants are private companies in major flour-producing provinces, they account for few wheat imports; customs data indicate that Beijing-based companies—comprising fewer than 2 percent of TRQ applicants each year—are the predominant wheat importers. When China’s wheat imports doubled in 2020, Beijing-based companies accounted for 85 percent of the imports. |
| Keywords: | Agricultural Finance, Financial Economics, International Relations/Trade, Political Economy |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usdami:313487&r= |
| By: | Drydakis, Nick (Anglia Ruskin University) |
| 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: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14704&r= |
| By: | Dilger, Alexander |
| Abstract: | Prozent-Hürden sollen eine Zersplitterung in Parlamenten verhindern und Parteien nur in Fraktionsstärke hineinlassen. Dazu werden bislang die Stimmen für Parteien unterhalb der Hürde gar nicht berücksichtigt. Diese Ungleichheit der Wahl und Benachteiligung von kleinen Parteien ließe sich dadurch vermeiden, dass von den kleineren Parteien unterhalb der Hürde eine ausgelost wird, die die Mandate für die Stimmen all dieser kleinen Parteien erhält. Alternativ könnte jede kleinere Partei mit einer Wahrscheinlichkeit, die zu ihrem Stimmanteil proportional ist, in Fraktionsstärke einziehen oder eine freiwillige Bildung von Losgemeinschaften erlaubt werden. Schließlich kann das Losen auch als Alternative zu den gängigen Wahlverfahren verwendet werden, um Bruchteile an Mandaten zuzuteilen oder um Stichwahlen um eine Position zu ersetzen. |
| JEL: | C71 D72 K16 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:umiodp:82021&r= |
| By: | Michael J. Frith (University College London) |
| Abstract: | This talk presents conjoint, a new Stata command for analysing and visualising conjoint (factorial) experiments in Stata. Using examples of conjoint experiments from the growing literature - including two from political science involving choices between immigrants (Hainmueller et al., 2014) and between return locations for refugees (Ghosn et al., 2021) - I will briefly explain conjoint experiments and how they are used. Then, and with reference to existing packages and commands in other software, I will explain how conjoint functions to estimate and visualise the two common estimands: average marginal component effects (AMCE) and marginal means (MM). Limitations of conjoint and possible improvements to the command will also be discussed. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:14&r= |
| By: | Seltzer, Andrew J.; Wadsworth, Jonathan |
| Abstract: | This paper examines the consequences of the commuter transport revolution on working class labour markets in 1930s London. The ability to commute alleviated urban crowding and increased workers’ choice of potential employers. Using GIS-based data constructed from the New Survey of London Life and Labour, we examine the extent of commuting and estimate the earnings returns to commuting. We obtain a lowerbound estimate of two percent increase in earnings per kilometre travelled. We also show that commuting was an important contributor to improving quality of life in the early-twentieth century. |
| Keywords: | Commuting; public transport; labour markets; New Survey of London Life and Labour |
| JEL: | N34 N94 J31 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111900&r= |
| By: | MORIKAWA Masayuki |
| Abstract: | With COVID-19's continued spread, vaccination is expected to facilitate the recovery of household consumption; however, a high degree of uncertainty exists regarding vaccination's effectiveness in restoring economic activity. Based on an original survey of individuals in July 2021, this study presents evidence about the relationship between vaccination and consumer behavior. According to the results, a relatively large number of respondents intend to increase consumption after the pandemic ends, but not many will increase consumption after receiving the vaccination. No clear association with health status or individual infection risk was detected, but those who used the 2020 GoTo campaign tended to exhibit higher intention to increase consumption after vaccination. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:21079&r= |
| By: | Murray, Cameron (The University of Sydney) |
| Abstract: | • There are more, bigger, better, dwellings per capita in Australia in 2021 compared to any point in history. • Multiple government inquiries at all levels over the past two decades have ostensibly sought to find the cause of house prices hidden in the pages of local zoning laws. • Dwellings are assets and are priced based on financial market conditions. • Density (dwellings per unit of land) and the rate of supply (new dwellings per period of time) are conceptually different but often confused in housing supply discussions. • This submission argues that market housing supply has exceeded household demand. State planning systems have flexibly accommodated new supply while regulating the location of different types of dwellings. • Compared to household incomes and rents, the cost of buying a home (measured by mortgage payments) in 2021 is historically cheap. This is due to lower interest rates and is why intercensal homeownership is expected to rise in 2021. However, asset price adjustments will mean that this situation will not persist. • Taxes on property are efficient and fair and do not add to housing costs but rather subtract from property values. • Affordable housing is cheap housing. Cheaper housing means lower rents and prices. Any “affordability” policy that reduces market prices will remove billions in landlord revenues each year, transferring that value to tenants, and trillions in housing asset values, with that value transferred to future buyers. • Fostering parallel non-market housing systems, just as public healthcare provides a non-market medical system, can be an effective way to improve housing affordability. • There are no local, international, or historical examples of planning reforms leading to cheaper housing. Indeed, a Productivity Commission review concluded “given the small size of net additions to housing in any year relative to the size of the stock, improvements to land release or planning approval procedures, while desirable, could not have greatly alleviated the price pressures of the past few years.” (p154) |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:prsy4&r= |
| By: | Ingela Alger (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, IAST - Institute for Advanced Study in Toulouse , CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Since a man's reproductive success depends on his ability to outcompete other men, male competitiveness may be expected to have been exposed to strong selective pressure throughout human history. Accordingly, the relatively low level of physical violence observed between men has been viewed as a puzzle. What could have limited the eagerness of men to out-compete each other? I study the evolution of male competitiveness in a model where men compete for both reproductive and productive resources. I show that high levels of male competitiveness are then consistent with evolution by natural selection if (a) the ecology is generous enough for men to supply little or no food to their children, (b) competing is not too costly in terms of productive resources, and (c) relatedness among males is low enough. While the main analysis takes women to passively accept the husband that emerges from the male-male competition, the results are qualitatively robust to allowing for female mate choice following the male-male competition game. Possible implications for our understanding of the evolution of marriage systems are discussed. |
| Keywords: | Male-male competition,Competitiveness,Evolution,Monogamy,Polygyny,Parental care |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03337789&r= |
| By: | Carlo Drago (University “Niccolò Cusano†, NCI University in London) |
| Abstract: | The analysis and measurement of poverty is a crucial and unsolved issue in the field of social science. This work aims to measure poverty as a multidimensional notion using a new composite indicator. However, subjective choices as different weighting schemes on the indicator's construction could affect their interpretation and policy. It is necessary to consider the possible weighting configurations randomly to overcome this problem, and it is proposed in this work as interval-based composite indicators based on the results. This work aims to obtain robust and reliable measures based on a relevant conceptual model of poverty we have identified, considering various factors as weightings. Methodologically speaking, it is proposed an original procedure for measuring poverty in which it is computed a different composite indicator for each simulated weighting scheme of the identified factors. The weighting scheme in the Monte-Carlo simulation randomly creates an interval-based composite indicator based on the results. The different intervals are compared using different criteria (upper bound, center, and lower bound), and various rankings help analyze extreme scenarios and policy hypotheses. Critical situations are identified in Sicilia, Calabria, Campania and Puglia. The results demonstrate a relevant and consistent indicator measurement and the shadow sector's relevant impact on the final measures. |
| Keywords: | Poverty, Composite Indicators, Interval Data, Interval-based Composite Indicators, Symbolic Data |
| JEL: | C02 C15 C43 I3 I32 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2021.21&r= |
| By: | Kreil, Agnes S.; Stauffacher, Michael |
| Abstract: | Demand for air travel must be reduced to align the aviation sector with international climate agreements. In line with this necessity, as well as motivated by the notion that academia has a responsibility to foster sustainable development, some academic institutions have begun reducing greenhouse gas emissions associated with their members’ air travel. Based on an online survey from early 2021, this article summarizes the practices of 35 academic institutions in Western Europe and the US that are committed to achieving such reductions. It aims to facilitate the exchange of knowledge between these institutions, thus creating a basis for informed development of future projects. A new classification of policy measures in this area is applied in this article, which reveals that policy activity focuses on low-coercive measures that encourage substituting air travel with virtual communication technology and ground-based transportation. The findings further indicate that the collection of data on air travel is an essential but challenging precursor to policy action. The discussion shows that these findings are consistent with country-specific analyses of academic institutions’ policy documents. The need for continued action to reduce emissions related to air travel, including ongoing investments in virtual communication, after the COVID-19 pandemic is emphasized. We also discuss potential acceptance of more coercive policy measures and suggest tackling the systemic effects of institutional internationalization strategies by including private travel needs engendered by international recruitment efforts in institutions’ calculations of travel emissions. |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:bzrfq&r= |
| By: | Andrey Itkin; Dmitry Muravey |
| Abstract: | We extend the approach of Carr, Itkin and Muravey, 2021 for getting semi-analytical prices of barrier options for the time-dependent Heston model with time-dependent barriers by applying it to the so-called $\lambda$-SABR stochastic volatility model. In doing so we modify the general integral transform method (see Itkin, Lipton, Muravey, Generalized integral transforms in mathematical finance, World Scientific, 2021) and deliver solution of this problem in the form of Fourier-Bessel series. The weights of this series solve a linear mixed Volterra-Fredholm equation (LMVF) of the second kind also derived in the paper. Numerical examples illustrate speed and accuracy of our method which are comparable with those of the finite-difference approach at small maturities and outperform them at high maturities even by using a simplistic implementation of the RBF method for solving the LMVF. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02134&r= |
| By: | Davide Bazzana (Università degli Studi di Brescia, Fondazione Eni Enrico Mattei); Francesco Menoncin (Università degli Studi di Brescia, Fondazione Eni Enrico Mattei); Sergio Vergalli (Università degli Studi di Brescia, Fondazione Eni Enrico Mattei) |
| Abstract: | The catastrophic events are characterized by “low frequency and high severity†. Nevertheless, during the last decades, both the frequency and the magnitude of these events have been significantly rising worldwide. In 2021, the European Commission adopted a new Strategy on Adaptation to Climate Change aiming to reinforce the adaptive capacity and minimize vulnerability to the effects of climate change and natural catastrophes. In a continuous time framework over an infinite horizon, we solve in closed form the problem of a representative consumer who holds a production technology (firm) and who optimises with respect to both the intertemporal consumption and the mix between an insurance (adaptation) against the magnitude of the catastrophic losses, and an effort strategy (mitigation) aimed at reducing the frequency of such losses. The catastrophic events are modelled as a Poisson jump process. We then propose some numerical simulations calibrated to the country-specific data of the five main European economies (Germany, France, Italy, Spain, and Netherlands). Our model demonstrates that an optimal mix of mitigation/effort strategies allows to reduce the volatility of the economic growth rate, even if its level may be lowered due to the effort costs. Simulations allow us to also conclude that different countries must optimally react differently to catastrophes, which means that a one-for-all policy does not seem to be optimal. |
| Keywords: | Uncertainty Modelling, Catastrophic Events, Mitigation, Adaptation, Optimal management |
| JEL: | C6 C61 Q5 Q54 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2021.22&r= |
| By: | Jean-Charles Hourcade; Dipak Dasgupta; F. Ghersi (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) |
| Abstract: | In this paper, we examine how to trigger a wave of low-carbon investments compatible with the wellbelow 2°C target of the Paris Agreement in the current post-pandemic context of increasing private and public debt. We argue that one major obstacle to catalyzing global excess savings at sufficient scale and speed on climate mitigation, and to 'greening' economic recovery packages, lies in the upfront risks of low-carbon investment. We then explain why public guarantees should be the preferred risk-sharing instrument to overcome that obstacle. We outline the basic principles of a multilateral sovereign guarantee mechanism able to maximize the leverage effect of public funds and massively redirect global savings towards low-carbon investments, with the double benefit of bridging the infrastructure investment gap in developing countries and reducing tension between developed and developing countries around accelerated funding for low-carbon transitions. We carry out numerical simulations demonstrating how the use of guarantees from AAA-rated sovereigns, calibrated on an agreed-upon 'social value of carbon', is compatible with public-budget constraints of developed countries. In summary, the use of such guarantee mechanisms provides a new form of 'where flexibility', which could turn real-world heterogeneity into a source of reciprocal gains for both developed and developing countries, and contribute to meeting the USD 100 billion + pledge of the Paris Agreement. Key policy insights Catalyzing excess world savings through low-carbon investments (LCIs) would secure a safer and fairer economic recovery from the COVID-19 crisis and avoid locking developing countries into carbon-intensive pathways. Public policy instruments focused on creation of public guarantees can reduce the up-front financial risks associated with LCIs, mobilize private money and increase the leverage of public finance. A multi-sovereign guarantee mechanism would yield financial support from developed to developing countries in cash grant equivalent and equity inflows two to four times higher than the 'USD 100 billion and more' commitment of the Paris Agreement, and provide greater confidence in meeting this commitment equitably and effectively with benefits for all. |
| Keywords: | Climate finance,Public guarantees,De-risking,Low-carbon investment,Post-COVID recovery,100 billion + pledge |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03336193&r= |
| By: | Buscha, Franz; Gorman, Emma; Sturgis, Patrick |
| Abstract: | Recent studies of social mobility have documented that not only who your parents are, but also where you grow up, substantially influences subsequent life chances. We bring these two concepts together to study social mobility in England and Wales, in three post-war generations, using linked Decennial Census data. Our findings show considerable spatial variation in rates of absolute and relative mobility, as well as how these have changed over time. While upward mobility increased in every region between the mid-1950s and the early 1980s, this shift varied across different regions and tailed off for more recent cohorts. We also explore how domestic migration is related to social mobility, finding that those who moved out of their region of origin had higher rates of upward mobility compared to those who stayed, although this difference narrowed over time. |
| Keywords: | ES/R00627X/1; ES/V003488/1 |
| JEL: | N0 |
| Date: | 2021–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111605&r= |
| By: | Tom Krebs (Universitaet Mannheim); Janek Steitz (Agora Energiewende) |
| Abstract: | Die vorliegende Studie schaetzt den oeffentlichen Finanzbedarf fuer Klimainvestitionen, die zum Erreichen des 2030-Klimaziels der Bundesregierung im Zeitraum 2021-2030 verwirklicht werden muessen. Die Analyse orientiert sich – wo moeglich – am Technologiepfad des Szenarios KN2045 von Prognos et al (2021) und verwendet einen Bottom-up-Ansatz, der basierend auf existierenden Studienergebnissen die oeffentlichen Finanzbedarfe zur Modernisierung des Kapitalstocks fuer die einzelnen Sektoren und Investitionsarten ermittelt. Der Finanzbedarf fuer Bundesinvestitionen (z.B. Deutsche Bahn) betraegt 90 Milliarden Euro und der Finanzbedarf fuer kommunale Klimainvestitionen (z.B. ÖPNV) wird auf 170 Milliarden Euro geschaetzt. Der Finanzbedarf fuer oeffentliche Klimainvestitionen von Bund, Laendern und Kommunen belaeuft sich somit insgesamt auf 260 Milliarden Euro (26 Milliarden Euro jaehrlich). Darueber hinaus besteht ein oeffentlicher Finanzbedarf zur Foerderung privater Investitionen (z.B. energetische Sanierung) von rund 200 Milliarden Euro (20 Milliarden Euro jaehrlich), wenn als Foerdersaetze die aktuellen Werte (teils sinkend) laufender Foerderprogramme angesetzt werden. Der oeffentliche Finanzbedarf fuer alle drei Komponenten der Klimainvestitionen (Bundesinvestitionen, kommunale Investitionen, Foerderung privater Investitionen) belaeuft sich im Zeitraum 2021- 2030 auf insgesamt etwa 460 Milliarden Euro (46 Milliarden Euro jaehrlich) und ist damit groeßer als in existierenden Studien angenommen. Der Bedarf entspricht rund 6,3 Prozent der gesamtwirtschaftlichen Bruttoinvestitionen oder 1,3 Prozent des Bruttoinlandsproduktes im Jahr 2019 und erscheint der Groeße der Herausforderung angemessen. Aus Bundessicht belaeuft sich der Finanzbedarf fuer Klimainvestitionen im Zeitraum 2021-2030 auf insgesamt 290 Milliarden Euro unter der Praemisse, dass die Finanzierung der Bundesinvestitionen und die Foerderung privater Investitionen im Wesentlichen eine Bundesaufgabe, die Finanzierung kommunaler Investitionen hingegen hauptsaechlich eine Aufgabe der Laender und Kommunen ist. Die Bundesregierung hat mit dem Klimaschutzprogramm, dem Konjunkturprogramm und dem Klimaschutz-Sofortprogramm (letzteres ist bisher nur eine Ankuendigung) bereits Finanzmittel fuer Klimainvestitionen im Zeitraum 2021-2025 bereitgestellt, die sich – zusammen mit relevanten europaeischen Mitteln – auf rund 80 Milliarden Euro belaufen. |
| Keywords: | Klima, Klimaneutralitaet, oeffentliche Investitionen, oeffentlicher Finanzbedarf |
| JEL: | H23 H54 L52 L95 L98 Q41 Q42 Q54 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:agz:wpaper:2103&r= |
| By: | Jérôme Blanc (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | On s'intéresse dans ce texte au trouble produit par le faux-monnayeur Farinet, non seulement sur l'authenticité de la monnaie, mais plus largement sur ce qu'elle est et ce qu'elle représente. Pour ce faire, on distingue la figure historique de Joseph-Samuel Farinet, qui émit des fausses pièces de vingt centimes dans les années 1870-80, et la figure littéraire de Maurice Farinet qui, sous le regard de son auteur Charles Ferdinand Ramuz aux prises avec les dérèglements monétaires du début des années 1930, émettait des pièces de vingt francs d'or plus pur que celui du gouvernement. Ce texte s'inscrit dans les réflexions sur les rapports entre économie et littérature avec la particularité d'une fiction fondée sur l'histoire mais qui en déborde. Il entend contribuer, par l'analyse de cette double figure contradictoire, aux conceptions institutionnalistes de la monnaie. C'est ainsi que Farinet permet de rendre compte à la fois du caractère vénal de l'activité de faux-monnayage, de la notion d'individu souverain, mais aussi des conditions de mise en circulation et d'usage de la monnaie en général où les rapports non marchands peuvent être déterminants. |
| Keywords: | communauté monétaire,souveraineté,fausse monnaie,Farinet |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03325929&r= |
| By: | Thomas TB Baudin; Bram De Rock; Paula Eugenia Gobbi |
| Abstract: | Household decisions are one of the key elements impacting many dimensions of any economy. In this paper, we review the economic literature onfamily types, focusing on nuclear, stem, and complex families. We show that family types are heterogeneous across and within countries, both inthe past and in present times. We argue that economists have focused too much their analysis on nuclear families, which may limit our capacity toanalyze the impact of institutional phenomena or public policies. We establish how each family type could relate to the basic ingredients of standardstructural models of household decisions. We believe this overview sets the stage for an interesting research avenue to improve the structural models of household decision making. |
| Keywords: | Family structures, Economic development, Household decisions |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/331659&r= |
| By: | División de Análisis Macroeconómico DAMAC |
| Abstract: | Este documento de la División de Análisis Macroeconómico continúa analizando la respuesta de la economía colombiana a las condiciones de convivencia con la pandemia COVID-19 y a los choques presentados en el frente social con el Paro Nacional durante el segundo trimestre de 2021. Pese a que el proceso de recuperación enfrentó retos relevantes, la apertura establecida en las principales ciudades en junio mostró que la economía tiene una alta capacidad de adaptación y al final del segundo semestre volvió a los niveles de operación más fuertes desde la llegada de la pandemia. Los principales retos en el mediano plazo están en el mejoramiento de las condiciones de bienestar social, pues si bien la producción está reaccionando, los rezagos en el mercado laboral son mayores. *** This document from the Macroeconomic Analysis Division continues analyzing the response of the Colombian economy to the conditions of coexistence with the COVID-19 pandemic and to the shocks presented on the social front with the National Strike during the second quarter of 2021. Although the recovery process faced relevant challenges, the opening established in the main cities in June showed that the economy has a high capacity to adapt and at the end of the second semester it returned to the strongest operating levels since the arrival of the pandemic. The main challenges in the medium term are in the improvement of social welfare conditions, because although production is reacting, the lags in the labor market are greater. |
| Keywords: | análisis macroeconómico, COVID-19, impacto, cuarentena, aislamiento, crisis, Colombia, protestas |
| JEL: | E00 E01 E20 E23 E60 |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:col:000178:019566&r= |
| By: | Nuno Paixao |
| Abstract: | This note describes the procedure implemented in Giannone et al. (2020) to estimate housing supply elasticities for a large set of cities in Canada (Census Agglomerations) following a novel approach developed by Guren et al. (2021). In contrast with the popular elasticities estimated by Saiz (2010), which explores geographical and regulation heterogeneity across cities, the approach employed in this note exploits the systematic differential sensitivity of different cities to regional house-price cycles. |
| Keywords: | Housing |
| JEL: | R14 R31 R52 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocsan:21-21&r= |
| By: | Dorian Carloni; Terry Dinan |
| Abstract: | Putting a price on emissions of carbon dioxide, either by taxing them or by establishing a cap- and-trade program, is one policy that lawmakers could consider to address climate change. Although such a policy could encourage cost-effective reductions in emissions throughout the economy, lawmakers have expressed concern about whether it would disproportionately affect lower-income households. Determining the distributional effects—that is, the effects on households at different income levels—of a policy that would price carbon emissions (referred to in |
| JEL: | H00 H20 H23 |
| Date: | 2021–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:cbo:wpaper:57399&r= |
| By: | Gauger, Felix; Strych, Jan-Oliver; Pfnür, Andreas |
| Abstract: | This data article describes a panel dataset that combines flexible office space market data with entrepreneurial data, such as founding and funding of ventures in 47 European cities. One adaption of new ways of working are coworking spaces. They are shared working environments that offer office space and intangible resources, such as knowledge sharing, collaboration and networking. Access to flexible office space for self-employed, start-ups, and corporates is a key resource for businesses. Covid-19 has shown that space provision is becoming more flexible and ventures increasingly use scalable space instead of long-term lease agreements for office space or than owning it. Deskmag counts 18,700 coworking spaces worldwide in the year of 2018 with 1.65 million coworkers and high future growth expectations after COVID-19 [1]. Data were collected through two sources. Data about coworking spaces were collected through a web scraper crawling for coworking spaces within a city as of December 31, 2018. Those data were manually enriched by real estate and economic variables, such as the office high prime rent and office market size. Data about the funding and founding of ventures were obtained through using the database Crunchbase, including all start-ups in a city with their type of funding (including: seed, venture capital, private equity, debt convertibles and others) and their financing rounds. The Crunchbase database lists mostly young firms, commonly called start-ups and small medium enterprises (SME), and their financing with external funding. It includes firms that have needed or might need funding in the near future, or have already got funding. Hence, it is possible to relate spatial clusters with entrepreneurial activity and analyze for example the influence of (flexible) office markets on founding activity. This dataset enables researchers and practitioners to further explore important questions regarding the nexus between the real estate industry, entrepreneurship behavior, start-ups and regional clusters. Due to the scarcity of publicly available quality flexible office space market data, the dataset detailed in this article may play a relevant role to be ready to be used by researchers and practitioners. Funding data can be used for regional analysis, growth development, or any other economic issues. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:128331&r= |
| By: | David Martimort (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, EHESS - École des hautes études en sciences sociales); Guillaume Pommey (Università degli Studi di Roma Tor Vergata [Roma]); Jerome Pouyet (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université, ESSEC Business School - Essec Business School) |
| Abstract: | Modern airports provide commercial services to passengers in addition to aeronautical services to airlines. We analyze how the airport's market power impacts the pricing of services when the airport also invests in the quality of its infrastructure. There is a need to regulate the airport and the optimal regulation can be implemented with a price-cap and a subsidy scheme targeted to the investment. The choice between a single-till and a dual-till approach does change neither the optimal regulation nor its implementation. We also investigate the consequences on the optimal regulation of the nature of the airport-airline relationship and of the observability of investment. |
| Keywords: | airports,regulation,commercial services,investment |
| Date: | 2021–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03328394&r= |
| By: | Chen, Shi; Härdle, Wolfgang; Schienle, Melanie |
| Abstract: | This paper provides statistical learning techniques for determining the full own-price market impact and the relevance and effect of cross-price and cross-asset spillover channels from intraday transactions data. The novel tools allow extracting comprehensive information contained in the limit order books (LOB) and quantify their impacts on the size and structure of price interdependencies across stocks. For correct empirical network determination of such dynamic liquidity price effects even in small portfolios, we require high-dimensional statistical learning methods with an integrated general bootstrap procedure. We document the importance of LOB liquidity network spillovers even for a small blue-chip NASDAQ portfolio. |
| Keywords: | limit order book,high-dimensional statistical learning,liquidity networks,high frequency dynamics,market impact,bootstrap,network |
| JEL: | C02 C13 C22 C45 G12 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:irtgdp:2021015&r= |
| By: | Malginov Georgiy (Gaidar Institute for Economic Policy); Sternik Sergey (Gaidar Institute for Economic Policy) |
| Abstract: | The past year in the Russian real estate market was unique. Some of the trends that emerged earlier have noticeably intensified (the decline in the developers’ profitability, the digitalization of technical and business processes, increase in size and consolidation of the industry as a response to the pre-bankruptcy state of a significant part of market participants, the expansion of state support for developers and its participation in the completion of many uncompleted projects). Other trends impact the spread of remote work format, migration from megacities, the systemic revival of the individual housing construction (IHC) segment as an alternative to apartment buildings, the easing of requirements for the level of income of borrowers and their reliability, the unprecedented expansion of state- subsidized mortgages - have only just begun to take shape. |
| Keywords: | Russian economy, residential property prices, housing market, housing construction |
| JEL: | K11 H82 L32 L33 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1133&r= |
| By: | Martha Orellano (emlyon business school); Christine Lambey-Checchin (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne); Khaled Medini (LIMOS - Laboratoire d'Informatique, de Modélisation et d'Optimisation des Systèmes - Ecole Nationale Supérieure des Mines de St Etienne - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne - INP Clermont Auvergne - Institut national polytechnique Clermont Auvergne - UCA - Université Clermont Auvergne); Gilles Neubert |
| Abstract: | The notion of sustainable innovation (SI) emerged recently in the academic literature and evokes deep changes in organizations' products, processes, and practices to favour the creation of social and environmental value in addition to economic returns. The development of SI implies a collaborative process that requires the orchestration of several actors and streams of knowledge to be successful. Indeed, companies adopting the SI path need structured methodologies to guide the collaboration process with internal and external actors and support the decision process. Nevertheless, the literature has focused on the analysis of determinants and drivers of sustainable innovation development, while the process perspective has been discussed less. Through an in-depth case study in a large-sized company in France, this article proposes a methodological framework to guide the collaborative process in the early phases of sustainable innovation development. The framework relies on a combination of qualitative research and a multicriteria decision aiding method (AHP). The contributions of this work address two main aspects: (i) the conceptualization of sustainable innovation (SI) and (ii) the collaborative process between internal and external actors to develop SI. Firstly, our study leads to two additional dimensions to complete the concept of SI, traditionally based on the three pillars of sustainability (economic, environmental, and social), by adding the functional and relational dimensions. Secondly, concerning the collaborative process to develop SI, our framework proposes a structured methodology following five steps: definition of the project scope, setting actors' motivations, defining satisfaction criteria, proposing SI solutions, and performing a decision-aiding process to define the preference profiles of the key actors. |
| Keywords: | sustainable innovation,customer-driven innovation,collaboration,decision-aiding,case study research |
| Date: | 2021–08–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03328101&r= |
| By: | Valentine Fays; Benoît Mahy; François Rycx |
| Abstract: | This paper is the first to investigate the role of firm-level upstreamness (i.e. the number of steps before the production of a firm meets final demand) in explaining wage differences according to workers’ origin. Using unique linked employer-employee data relative to the Belgian manufacturing industry for the period 2002-2010, our estimates show that firms that are further up in the value chain pay significantly higher wages. However, the wage premium associated with upstreamness is also found to vary substantially depending on the origin of the workers. Unconditional quantile estimates suggest that those who benefit the most from being employed in more upstream firms are high-wage workers born in developed countries. In contrast, workers born in developing countries, irrespective of their earnings, appear to be unfairly rewarded. Quantile decompositions further show that, while differences in average values of upstreamness according to workers’ origin play a limited role, differences in wage premia associated with upstreamness account for a substantial part of the wage gap between workers born in developed and developing countries, especially at the top of the earnings distribution. These results are shown to be robust to a number of sensitivity tests, including broader or narrower definitions of workers’ wages and different firm environments in terms of technological and knowledge intensity. |
| Keywords: | Wage Gaps; Workers’ Origin; Global Value Chains; Upstreamness; Unconditional Quantile Estimates and Decompositions |
| JEL: | J15 J31 F16 |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/331712&r= |
| By: | Arouca, Murilo Guerreiro; Neves, Isa Beatriz Da Cruz; Barreto, Marcos Ennes; Cruz, Carlos Daniel Santana; Brito, Ricardo Lustosa |
| Abstract: | Objective: identify in the literature the state of the art of gamification frameworks and models developed for health contexts. Methods: an integrative literature review of articles indexed in the LILACS, SciELO, PubMed, CINAHL, Scopus and Web of Science databases, in english and published between January 2010 and July 2020. Results: among the 10 studies included in the analysis, nine were published in journals and one in conference proceedings. As well as 100% of the analyzed studies were published between the years 2015 and 2020. Thus, among the articles are studies related to three health contexts, where six frameworks and two models were identified. Conclusions: it is noteworthy that the main gap related to the development of gamification frameworks and models for health contexts is the validation process. As well as, the trend and the possibility of observing the use of participatory approaches in models and frameworks of gamification for some health contexts was evidenced. |
| Keywords: | gamification; health; frameworks; models |
| JEL: | C1 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111908&r= |
| By: | Rihn, Alicia L.; Fulcher, Amy; Khachatryan, Hayk |
| Abstract: | The green industry is a vibrant part of Tennessee’s agricultural economy, directly contributing $965 million annually to the state’s economy, $23.5 million in annual state and local taxes, and over 13,000 jobs (Jensen et al., 2020). In recent years, labor shortages have become more pronounced nationally and within the state of Tennessee (Velandia et al., 2021). Tennessee growers report that hiring locally and retaining locally hired employees is challenging, and that labor-related challenges are on the increase. In 2018, nearly 80 percent of nurseries indicated that labor is their greatest hurdle, and over 50 percent stated the lack of qualified labor limited their ability to hire additional employees (McClellan, 2018). Alongside the issue of an uncertain and inadequate labor force is the increasing demand for nursery and landscape products and services. Nationally, the industry demonstrated a 0.6 percent annual growth from 2015 to 2019, which is expected to increase 1.8 percent annually through 2025 (Daly, 2021). Just prior to the COVID-19 pandemic, members of the Tennessee green industry anticipated expanding production by 16.5 percent over the next five years (Jensen et al., 2020). With the development of the COVID-19 pandemic that led to dramatically increased interest in home gardening, the green industry experienced an increase in national sales, with 47 percent of participating nurseries and 87 percent of garden centers reporting an increase in sales in 2020 relative to 2019 (Daly, 2021; Nursery Management, 2020). Southeastern U.S. households reported an increase in plant purchases of 3.4 percent and landscaping purchases by 4.6 percent from 2019 to 2020 (Campbell, Rihn, and Campbell, 2021). Given the increase in demand, green industry firms will likely increase production, which will require more labor. In an effort to help the green industry better understand employment issues, related trends and to better position their businesses for the future, a two-part series titled “A Ten-Year Review of the Southeast U.S Green Industry” was developed. In “Part I: Labor and Firm Characteristics” annual sales, product types and workforce demographics are covered for three sub-samples, including: national, a select geographical area in the southeast U.S. (hereafter termed “five-state region” which includes Georgia, Kentucky, North Carolina, South Carolina and Tennessee), and the state of Tennessee. In the companion publication, “A Ten-Year Review of the Southeast U.S. Green Industry, Part 2: Addressing Labor Shortages and Internal and External Factors Affecting Businesses Strategies,” we discuss specific strategies that businesses are using to address the labor shortage. In Part 2, we also discuss the importance of other factors and issues that are also weighing on business decisions that affect the future sustainability of the green industry. |
| Keywords: | Agribusiness |
| Date: | 2021–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:ags:utaeer:313531&r= |
| By: | Haile, Beliyou; You, Liangzhi; Headey, Derek D.; Ru, Yating; Mahrt, Kristi |
| Abstract: | Supply chains for nutritious (“protective†) foods in Africa south of the Sahara are often poorly developed, especially for perishable crops that are vulnerable to wastage. We used LSMS-ISA surveys and geographic information system (GIS) data to explore which factors predict production patterns of four protective food crops (pulses, nuts and seeds, vegetables, and fruits) relative to cereals and starchy roots and tubers (grouped under staples) in Ethiopia, Malawi, Tanzania, and Uganda, with a focus on potential inter-ventions to improve production, trade, and consumption of these foods. Plot-level irrigation adoption is the strongest predictor of fruit and vegetable production, along with precipitation, suggesting that water availability is a major precondition for pro-ducing these protective foods. In contrast, pulses and nuts and seeds can be grown in drier and warmer conditions. Better market access is also associated with higher production of fruits and vegetables, but the association is weaker than that of water access. Investing in and expanding irrigation-especially small-scale irrigation-has strong poten-tial to yield high returns in East Africa, especially for poor households that cannot afford to invest in capital-intensive irrigation technologies. Irrigation investments may need to be complemented by investments in roads, rural elec-trification, and cold storage chains to promote efficiency of postharvest supply chains and reduce marketing costs. |
| Keywords: | EAST AFRICA; AFRICA; policies; foods; food production; nutrition; nutritional status; food crops; supply chains |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:prnote:1265314308&r= |
| By: | Valentine Fays (Université de Mons (humanOrg)); Benoît Mahy (Université de Mons (humanOrg)); François Rycx (Université libre de Bruxelles, SBS-EM (CEBRIG & DULBEA)) |
| Abstract: | This paper is the first to investigate the role of firm-level upstreamness (i.e. the number of steps before the production of a firm meets final demand) in explaining wage differences according to workers’ origin. Using unique linked employer-employee data relative to the Belgian manufacturing industry for the period 2002-2010, our estimates show that firms that are further up in the value chain pay significantly higher wages. However, the wage premium associated with upstreamness is also found to vary substantially depending on the origin of the workers. Unconditional quantile estimates suggest that those who benefit the most from being employed in more upstream firms are high-wage workers born in developed countries. In contrast, workers born in developing countries, irrespective of their earnings, appear to be unfairly rewarded. Quantile decompositions further show that, while differences in average values of upstreamness according to workers’ origin play a limited role, differences in wage premia associated with upstreamness account for a substantial part of the wage gap between workers born in developed and developing countries, especially at the top of the earnings distribution. These results are shown to be robust to a number of sensitivity tests, including broader or narrower definitions of workers’ wages and different firm environments in terms of technological and knowledge intensity. |
| Keywords: | Wage Gaps, Workers’ Origin, Global Value Chains, Upstreamness, Unconditional Quantile Estimates and Decompositions |
| JEL: | J15 J31 F16 |
| Date: | 2021–08–28 |
| URL: | http://d.repec.org/n?u=RePEc:ctl:louvir:2021022&r= |
| By: | Dongwoo Kim; Young Jun Lee |
| Abstract: | Vaccination has been perceived as a key to reaching "herd immunity" in the current COVID-19 pandemic. This paper examines effectiveness of different vaccination strategies. We investigate the effects of two key elements in mass vaccination, which are allocations and timing of first and second doses and types of vaccines, on the spread of COVID-19. Amid limited supply of approved vaccines and constrained medical resources, the choice of a vaccination strategy is fundamentally an economic problem. We employ standard time-series and panel data models commonly used in economic research with real world data to estimate the effects of progress in vaccination and types of vaccines on health outcomes. Potential confounders such as government responses and people's behavioral changes are also taken into account. Our findings suggest that the share of people vaccinated with at least one dose is significantly negatively associated with new infections and deaths. Conditioning on first dose progress, full vaccination offers no further reductions in new cases and deaths. For vaccines from China, however, we find weaker effects of vaccination progress on health outcomes. Our results support the extending interval between first and second dose policy adopted by Canada and the UK among others for mRNA-based vaccines. As vaccination progressed, people's mobility increased and it offset the direct effects of vaccination. Therefore, public health measures are still important to contain the transmission by refraining people from being more mobile after vaccinated. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06453&r= |
| By: | Fays, Valentine (University of Mons); Mahy, Benoît (University of Mons); Rycx, Francois (Free University of Brussels) |
| Abstract: | This paper is the first to investigate the role of firm-level upstreamness (i.e. the number of steps before the production of a firm meets final demand) in explaining wage differences according to workers' origin. Using unique linked employer-employee data relative to the Belgian manufacturing industry for the period 2002-2010, our estimates show that firms that are further up in the value chain pay significantly higher wages. However, the wage premium associated with upstreamness is also found to vary substantially depending on the origin of the workers. Unconditional quantile estimates suggest that those who benefit the most from being employed in more upstream firms are high-wage workers born in developed countries. In contrast, workers born in developing countries, irrespective of their earnings, appear to be unfairly rewarded. Quantile decompositions further show that, while differences in average values of upstreamness according to workers' origin play a limited role, differences in wage premia associated with upstreamness account for a substantial part of the wage gap between workers born in developed and developing countries, especially at the top of the earnings distribution. These results are shown to be robust to a number of sensitivity tests, including broader or narrower definitions of workers' wages and different firm environments in terms of technological and knowledge intensity. |
| Keywords: | wage gaps, workers’ origin, global value chains, upstreamness, unconditional quantile estimates and decompositions |
| JEL: | J15 J31 F16 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14696&r= |
| By: | Laha, A. K.; Verma, Shikha |
| Abstract: | With increasing adoption of Internet of Things (IoT) across the transportation sector, there is a growing need for developing algorithms for analyzing data streams. Due to dynamic operating environment conditions in the transportation domain, the nature of the data streams frequently change and static predictive models are often not successful when dealing with, non-stationary data streams. Further, labelled data is often unavailable or is costly to acquire in real time. Thus, effective algorithms for such problems would aim to maximize accuracy while minimizing the labelled data requirements. In this paper, we propose a new algorithm namely, the Optimal Transport based Drift Detection (OTDD) algorithm, that aims to address the accuracy-labeling requirement trade-off. Experiments on artificial and real-life data sets from the transportation domain demonstrate that the OTDD algorithm performs better than some of the widely used competing algorithms in addressing the accuracy-labeling requirement trade-off. |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:iim:iimawp:14660&r= |
| By: | Cheliotis, Leonidas |
| Abstract: | Notwithstanding the significant advances made over the last twenty years in terms of charting and explaining the ways in which state punishment is influenced by economic and political forces, little is still known about the penal effects of conditions of economic crisis and about the role the incumbent government’s political orientation plays in this regard. Because the few available studies on these questions have been preoccupied with the Anglo-American sphere and only in the context of recent decades at that, even less is known either about the implications that different types or experiences of economic crisis carry for state punishment, or about the influence exerted in this respect by government political orientations other than those found in established democracies. Irrespective of geographical or temporal scope, moreover, the impact that different extranational factors and actors may have in terms of economic, political or directly penal matters domestically remains poorly understood. With a view to helping fill these gaps in the literature, this article explores the effects on state punishment that economic crisis and government political orientation had in interaction with one another in the context of interwar Greece. Attention is first paid to the various ways in which global capitalism was decisive in creating within Greece an environment conducive to increased punitiveness on the part of the state. The focus is on the economic, social and political consequences of the Wall Street crash of 1929 and Britain’s exit from the gold standard in 1931, as these were exacerbated by Greece’s long-term exposure to predatory lending, speculative investing and external interference in her domestic affairs in the context of engaging international capital markets. The article then proceeds to discuss how the Liberal government of 1928-1932 sought to handle the situation, particularly the approach it took towards punishment. |
| Keywords: | economic crisis; global capitalism; interwar Greece; government political orientation; political economy of punishment |
| JEL: | N0 |
| Date: | 2021–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111864&r= |
| By: | Ho, Teck Tuak |
| Abstract: | Afghanistan, Taliban, Why -by Dr Ho Teck Tuak |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:n5x7u&r= |
| By: | Pamela E. Ofori (University of Insubria, Varese, Italy); Daryna Grechyna (University of Granada, Spain) |
| Abstract: | Despite the established link between oil rent fluctuations and remittances received, its plausible joint effect on economic growth in Sub-Saharan Africa (SSA) remains unexplored. To fill this gap, first, we determine whether natural resource rent (composed of oil rent, forest rent and natural gas rent) reduces economic growth in SSA. Second, we examine whether positive macroeconomic signals such as remittances mitigate the negative effect of oil rents on economic growth in a sample of 43 SSA countries spanning 1990-2017. We employ the pooled ordinary least squares, fixed-effects and random-effects, and generalized method of moments. The resulting empirical evidence established are; (1) there is a positive impact of forest rent on economic growth whilst oil rent and natural gas rent have a negative impact on economic growth (2) there is a positive marginal and net effect on economic growth from the interaction between remittances and oil rent. Also, the unconditional effect of remittances on growth is positive. We further perform a threshold analysis to establish a critical ground that could also influence economic growth positively. This threshold is crucial because below these critical mass remittance inflows mitigate the negative incidence of oil rent on economic growth and above the threshold, negative oil rent on growth is completely nullified. This is relevant for policy implications because policymakers are provided with actionable levels of remittances which are easily attainable in sampled countries. |
| Keywords: | Remittances, Natural resource rent, oil rent, Economic growth, Sub-Saharan Africa |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:21/056&r= |
| By: | Aziz, Imran (Yorkville University); Cortes, Guido Matias (York University, Canada) |
| Abstract: | A vast literature aimed at understanding the nature and causes of wage inequality focuses on the skill premium as a key object of interest. In an environment where both the skill premium and the share of skilled workers are changing, however, the between-skill-group component of inequality may fall even as the skill premium rises – a pattern that is indeed observed in the U.S. and in many local labor markets during the 2010s. Understanding the evolution of the skill premium is therefore not always useful in terms of understanding why broad inequality measures are changing. |
| Keywords: | skill premium, skill-biased technical change, between-group inequality |
| JEL: | J31 J21 J24 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14701&r= |
| By: | Steve J. Bickley; Ho Fai Chan; Benno Torgler |
| Abstract: | The history of AI in economics is long and winding, much the same as the evolving field of AI itself. Economists have engaged with AI since its beginnings, albeit in varying degrees and with changing focus across time and places. In this study, we have explored the diffusion of AI and different AI methods (e.g., machine learning, deep learning, neur al networks, expert systems, knowledge- based systems) through and within economic subfields, taking a scientometrics approach. In particular, we centre our accompanying discussion of AI in economics around the problems of economic calculation and social planning as proposed by Hayek. To map the history of AI within and between economic sub- fields, we construct two datasets containing bibliometrics information of economics papers based on search query results from the Scopus database and the EconPapers (and IDEAs/RePEc) repository. We present descriptive results that map the use and discussion of AI in economics over time, place, and subfield. In doing so, we also characterise the authors and affiliations of those engaging with AI in economics. Additionally, we find positive correlations between quality of institutional affiliation and engagement with or focus on AI in economics and negative correlations between the Human Development Index and share of learning-based AI papers. |
| Keywords: | Artificial Intelligence; Machine Learning; Economics; Scientometrics; Science of Science; Bibliometrics |
| JEL: | B40 N01 A14 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cra:wpaper:2021-28&r= |
| By: | Xiaoyu Cheng |
| Abstract: | Cheng(2021) proposes and characterizes Relative Maximum Likelihood (RML) updating rule when the ambiguous beliefs are represented by a set of priors. Relatedly, this note proposes and characterizes Extended RML updating rule when the ambiguous beliefs are represented by a convex capacity. Two classical updating rules for convex capacities, Dempster-Shafer (Shafer, 1976) and Fagin-Halpern rules (Fagin and Halpern, 1990) are included as special cases of Extended RML. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02597&r= |
| By: | Tianyong Zhou |
| Abstract: | The existing theorization of development economics and transition economics is probably inadequate and perhaps even flawed to accurately explain and analyze a dual economic system such as that in China. China is a country in the transition of dual structure and system. The reform of its economic system has brought off a long period of transformation. The allocation of factors is subjected to the dualistic regulation of planning or administration and market due to the dualistic system, and thus the signal distortion will be a commonly seen existence. From the perspective of balanced and safe growth, the institutional distortions of population birth, population flow, land transaction and housing supply, with the changing of export, may cause great influences on the production demand, which includes the iterative contraction of consumption, the increase of export competitive cost, the widening of urban-rural income gap, the transferring of residents' income and the crowding out of consumption. In view of the worldwide shift from a conservative model with more income than expenditure to the debt-based model with more expenditure than income and the need for loose monetary policy, we must explore a basic model that includes variables of debt and land assets that affecting money supply and price changes, especially in China, where the current debt ratio is high and is likely to rise continuously. Based on such a logical framework of dualistic system economics and its analysis method, a preliminary calculation system is formed through the establishment of models. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.08099&r= |
| By: | Pamela E. Ofori (Department of Economics, University of Insubria); Daryna Grechyna (University of Granada, Spain) |
| Abstract: | Despite the established link between oil rent fluctuations and remittances received, its plausible joint effect on economic growth in Sub-Saharan Africa (SSA) remains unexplored. To fill this gap, first we determine whether natural resource rent (composed of oil rent, forest rent and natural gas rent) reduces economic growth in SSA. Second, we examine whether positive macroeconomic signals such as remittances mitigate the negative effect of oil rents on economic growth in a sample of 43 SSA countries spanning 1990-2017. We employ the pooled ordinary least squares, fixed-effects and random-effects, and generalized method of moments. The resulting empirical evidence established are; (1) There is a positive impact of forest rent on economic growth whilst oil rent and natural gas rent have a negative impact on economic growth. (2) There is a positive marginal and net effect on economic growth from the interaction between remittances and oil rent. Also, the unconditional effect of remittances on growth is positive. We further perform a threshold analysis to establish a critical ground that could also influence economic growth positively. This threshold is crucial because above these critical mass remittance inflows mitigate the negative incidence of oil rent on economic growth and below the threshold negative oil rent on growth is completely nullified. This is relevant for policy implications because policy makers are provided with actionable levels of remittances which are easily attainable in sampled countries. |
| Keywords: | Remittances, Natural resource rent, oil rent, Economic growth, Sub-Saharan Africa. |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:21/056&r= |
| By: | Drydakis, Nick (Anglia Ruskin University) |
| Abstract: | The study examines whether adverse working conditions for immigrants in Greece bear an association with deteriorated physical health and increased levels of depression during 2018 and 2019. Findings indicate that workers with no written contract of employment, receiving hourly wages lower than the national hourly minimum wages, and experiencing insults and/or threats in their present job experience worse physical health and increased levels of depression. The study found that the inexistence of workplace contracts, underpayment, and verbal abuse in the workplace may coexist. An increased risk of underpayment and verbal abuse reveals itself when workers do not have a contract of employment and vice versa. Immigrant workers without a job contract might experience a high degree of workplace precariousness and exclusion from health benefits and insurance. Immigrant workers receiving a wage lower than the corresponding minimum potentially do not secure a living income, resulting in unmet needs and low investments in health. Workplace abuse might correspond with vulnerability related to humiliating treatment. These conditions can negatively impact workers' physical health and foster depression. Policies should promote written employment contracts and ensure a mechanism for workers to register violations of fair practices. |
| Keywords: | adverse working conditions, physical health, depression, immigrants, refugees, minimum wages, written contracts of employment, threats in job, workplace precariousness |
| JEL: | J81 O15 E24 I14 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14700&r= |
| By: | David Martimort (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, EHESS - École des hautes études en sciences sociales); Jérôme Pouyet (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université, ESSEC Business School - Essec Business School); Thomas Trégouët (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université) |
| Abstract: | An incumbent seller contracts with a buyer and faces the threat of entry. The contract stipulates a price and a penalty for breach if the buyer later switches to the entrant. Sellers are heterogenous in terms of the gross surplus they provide to the buyer. The buyer is privately informed on her valuation for the incumbent's service. Asymmetric information makes the incumbent favor entry as it helps screening buyers. When the entrant has some bargaining power vis-à-vis the buyer and keeps a share of the gains from entry, the incumbent instead wants to reduce entry. The compounding effect of these two forces may lead to either excessive entry or foreclosure, and possibly to a fixed rebate for exclusivity given to all buyers. |
| Keywords: | foreclosure,excessive entry,exclusionary behavior,incomplete information |
| Date: | 2021–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03328387&r= |
| By: | Ali-Yrkkö, Jyrki; Pajarinen, Mika |
| Abstract: | Abstract In this study, we analyse the size and role of the Finnish event industry by utilising both industry- and firm-level data. Furthermore, we study the impacts of the Covid-19 crisis on companies operating in the event industry. Based on our results, the event industry accounts for 1.2% of the Finnish GDP. It should be noted that in addition to companies, the event industry consists of associations, foundations and other non-profit organisations. Depending on the definition, the Finnish event industry included in 2019 approximately 8,354–9,126 companies with 15,200–19,500 employees (full-time equivalent), which corresponds to 0.9–1.2% of the employment of all companies. The companies operating in the event industry generated EUR 800–1,200 million value added, corresponding to 0.6–0.9% of the value added of all companies. The turnover decreased between 2019 and 2020 for 70% of these companies. In every fourth of the companies, turnover decreased by at least 50%. Due to update delays of the firm-level data, these shares are probably downward biased because we were not able to take into account the role of companies that that ceased operations. |
| Keywords: | Event industry, Event, Significance, Covid-19, Impact, Role, Definition |
| JEL: | L16 L8 L84 |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:rif:report:116&r= |
| By: | Rodrigo Ignacio Barra Novoa (Universidad de Tarapaca) |
| Abstract: | Dieser Artikel bietet eine erste Annäherung an die Auswirkungen der COVID-19-Pandemie auf das makro- und mikroökonomische Umfeld in Chile, wobei repräsentative Daten aus den jüngsten formellen Erhebungen im Land verwendet werden. In diesem Fall ist die Zahl der aktiven Unternehmen zum Teil aufgrund der sozialen Krise, die am 18. Oktober 2019 begann, stark zurückgegangen, und in den meisten Branchen waren Verluste aufgrund der Pandemiekrise zu verzeichnen, die nach wie vor zu Arbeitsplatzverlusten und geringer Rentabilität der Unternehmen führt. Diese ersten Ergebnisse haben Auswirkungen auf die Politik der Zentralbank und können Vorhersagen für mittel- und langfristige Prognosen, insbesondere für das wirtschaftliche und soziale Wachstum des Landes, liefern. |
| Abstract: | This article offers a first approximation of the impacts of the COVID-19 pandemic on the Chilean macro and microeconomic environment, using representative data from the latest formal surveys in the country. Here, the number of active firms plummeted in part due to the social crisis that began on October 18, 2019, and losses were felt in most industries due to the pandemic crisis that continues to generate job losses and low business profitability. These first results have implications for central bank policies and can predict medium and medium-term projections, especially for the country's economic and social growth. |
| Abstract: | Cet article propose une première approximation des impacts de la pandémie COVID-19 sur l'environnement macro et microéconomique chilien, en utilisant des données représentatives des dernières enquêtes formelles du pays. Ici, le nombre d'entreprises actives s'est effondré en partie en raison de la crise sociale qui a débuté le 18 octobre 2019, et des pertes ont été ressenties dans la plupart des industries en raison de la crise pandémique qui continue de générer des pertes d'emplois et une faible rentabilité des entreprises. Ces premiers résultats ont des implications pour les politiques des banques centrales et peuvent prédire les projections à moyen et moyen terme, notamment pour la croissance économique et sociale du pays. |
| Date: | 2021–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03331327&r= |
| By: | Hanim, Muhammad Iqbal Jauhar |
| Abstract: | Sales is an important stage for an entrepreneur to make a profit during the COVID-19 pandemic. It also benefits from the opportunity where the demand for sports equipment is always in demand. But in reality, not always the goods sold sell well in the market. This is the concern of researchers about the concept of good sales and in accordance with the current policy of restricting community activities. Selling online is a profitable way to overcome restrictions on community activities in the field. This type of research is descriptive qualitative research with case study research methods. The stages carried out in this research are: (1) topic selection, and research cases, (2) literature study stage, (3) research problem formulation and research focus, (4) data collection stage, (5) data processing stage, ( 6) Data analysis stage, and (7) Conclusion. The results show that there is an increase in daily online sales of sports equipment every month in the first half of 2021. However, there are days without sales transactions. |
| Date: | 2021–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:352vx&r= |
| By: | Antonin Pottier (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); Marc Fleurbaey (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, CNRS - Centre National de la Recherche Scientifique); Aurélie Méjean (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); Stéphane Zuber (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, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | We develop an integrated assessment model with endogenous population dynamics accouting for the impact of global climate change on mortality through five channels (heat, diarrhoeal disease, malaria, dengue, undernutrition). An age-dependent endogenous mortality rate, which depends linearly on global temperature increase, is introduced and calibrated. We consider three emission scenarios (business-as-usual, 3°C and 2°C scenarios) and find that the five risks induce deaths in the range from 160,000 per annum (in the near term) to almost 350,000 (at the end of the century) in the business-as-annual. We examine the number of life-years lost due to the five selected risks and find figures ranging from 5 to 10 millions annually. These numbers are too low to impact the aggregate dynamics and we do not find significant feedback effects of climate mortality to production, and thus emissions and temperature increase. But we do find interesting evolution patterns. The number of life-years lost is constant (business-as-usual) or decreases over time (3°C and 2°C). For the stabilisation scenarios, we find that the number of life-years lost is higher today than in 2100, due to improvements in generic mortality conditions, the bias of those improvements towards the young, and an ageing population. From that perspective, the present generation is found to bear the brunt of the considered climate change impacts. |
| Keywords: | Mortality risk,Integrated assessment model,Endogenous population,Impacts,Climate change |
| Date: | 2020–12–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:ciredw:halshs-03048602&r= |
| By: | Etienne Fouqueray (FED 4229 - Fédération Territoires - Université de Poitiers - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, RURALITES - RURALITES - Université de Poitiers); Emmanuel Nadaud (FED 4229 - Fédération Territoires - Université de Poitiers - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, RURALITES - RURALITES - Université de Poitiers) |
| Abstract: | COMPRENDRE LA PERFORMANCE ET LE DÉCLIN DES TERRITOIRES D'INDUSTRIE. APPROCHE QUALITATIVE ANGOULÊME-COGNAC La présente étude s'intéresse au cas du territoire d'industrie Angoulême-Cognac au sein duquel figure la zone d'emploi de Cognac caractérisée par des effets locaux industriels positifs sur les périodes 2007-2016 et 2016-2018. Son objectif est de comprendre l'effet local positif identifié sur cette zone d'emploi en intégrant plus largement le territoire d'industrie dans lequel elle s'inscrit. De fait, la dynamique industrielle sur la zone d'emploi d'Angoulême est également étudiée, bien que présentant des effets locaux négatifs. Plusieurs thématiques liées aux effets locaux ont été traitées : le fonctionnement du marché du travail ; la dynamique interterritoriale ; l'effet Covid-19 ; l'ancrage territorial et le rapport entre les multinationales et le territoire. Ce document est un rapport de recherche détaillé. Il a donné lieu à la publication d'un ouvrage: "Angoulême-Cognac: appréhender la diversité des territoires industriels", Les Docs de la Fabrique, Paris, Presse des Mines, 2021. |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03331848&r= |
| By: | Enrique Pinzon (StataCorp) |
| Abstract: | Stata 17 introduced two commands to fit difference-in-differences (DID) models and difference-in-difference-in-differences (DDD) models. One of the commands, didregress, is for repeated cross-section models, and the other command, xtdidregress, is for longitudinal or panel data. In this presentation, I will briefly talk about the theory of DID and DDD, and then there will be a practical application about how to fit the models using the new commands. Likewise, some aspects related to standard errors that are appropriate under different scenarios will be addressed. Graphical diagnostics and tests relevant to the DID and DDD specifications, as well as new areas of development in the DID literature, will also be discussed. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:21&r= |
| By: | Sebastian Kripfganz (University of Exeter Business School); Vasilis Sarafidis (BI Norwegian Business School) |
| Abstract: | We introduce the xtivdfreg command in Stata, which implements a general instrumental variables (IV) approach for estimating panel data models with a large number of time series observations, T, and unobserved common factors or interactive effects, as developed by Norkute, Sarafidis, Yamagata, and Cui (2021, Journal of Econometrics) and Cui, Norkute, Sarafidis, and Yamagata (2020, ISER Discussion Paper). The underlying idea of this approach is to project out the common factors from exogenous covariates using principal components analysis, and to run IV regression in both of two stages, using defactored covariates as instruments. The resulting two-stage IV (2SIV) estimator is valid for models with homogeneous or heterogeneous slope coefficients, and has several advantages relative to existing popular approaches. In addition, the xtivdfreg command extends the 2SIV approach in two major ways. Firstly, the algorithm accommodates estimation of unbalanced panels. Secondly, the algorithm permits a flexible specification of instruments. It is shown that when one imposes zero factors, the xtivdfreg command can replicate the results of the popular ivregress Stata command. Notably, unlike ivregress, xtivdfreg permits estimation of the two-way error components panel data model with heterogeneous slope coefficients. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:4&r= |
| By: | Nguyen, Lien; Jokimäki, Hanna; Linnosmaa, Ismo; Saloniki, Eirini Christina; Batchelder, Laurie; Malley, Juliette; Lu, Hui; Burge, Peter; Trukeschitz, Birgit; Forder, Julien |
| Abstract: | This study developed Finnish preference weights for the seven-attribute Adult Social Care Outcomes Toolkit for carers (ASCOT-Carer) and investigated survey fatigue and learning in best-worst scaling (BWS) experiments. An online survey that included a BWS experiment using the ASCOT-Carer was completed by a sample from the general population in Finland. A block of eight BWS profiles describing different states from the ASCOT-Carer were randomly assigned to each respondent, who consecutively made four choices (best, worst, second best and second worst) per profile. The analysis panel data had 32,160 choices made by 1005 respondents. A scale multinomial logit (S-MNL) model was used to estimate preference weights for 28 ASCOT-Carer attribute levels. Fatigue and learning effects were examined as scale heterogeneity. Several specifications of the generalised MNL model were employed to ensure the stability of the preference estimates. The most and least-valued states were the top and bottom levels of the control over daily life attribute. The preference weights were not on a cardinal scale. We observed the position effect of the attributes on preferences associated with the best or second-best choices. A learning effect was found. The established preference weights can be used in evaluations of the effects of long-term care services and interventions on the quality of life of service users and caregivers. The learning effect implies a need to develop study designs that ensure equal consideration to all profiles (choice tasks) in a sequential choice experiment. |
| Keywords: | adult Social Care Outcomes Toolkit for carers (ASCOT-Carer); best-worst scaling (BWS); evaluation; informal care; learning and fatigue effects; outcome measurement; quality of life; scale multinomial logit |
| JEL: | C35 C90 I18 I31 I39 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111885&r= |
| By: | David, Lucinda (CIRCLE, Lund University) |
| Abstract: | In order to unpack the context that enable place leaders to enact transformative policies in their local economies, this paper conducts a meta-analysis using qualitative comparative analysis (QCA). This paper finds that there are three solution paths, which makes manifestations of place leadership possible. Path 1 combines networks, assets, and leadership skills. Path 2 combines agenda, assets, autonomy, and networks. Path 3 combines agenda, autonomy, network, and leadership skills. Having three paths suggests that different regions can share similar conditions that can enable place leadership but that, importantly; there is no one single condition or ‘recipe’ for doing so |
| Keywords: | place leadership; context; QCA |
| JEL: | D02 R58 |
| Date: | 2021–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2021_011&r= |
| By: | Antonin Pottier (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); Marc Fleurbaey (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, CNRS - Centre National de la Recherche Scientifique); Aurélie Méjean (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); Stéphane Zuber (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, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | We develop an integrated assessment model with endogenous population dynamics accouting for the impact of global climate change on mortality through five channels (heat, diarrhoeal disease, malaria, dengue, undernutrition). An age-dependent endogenous mortality rate, which depends linearly on global temperature increase, is introduced and calibrated. We consider three emission scenarios (business-as-usual, 3°C and 2°C scenarios) and find that the five risks induce deaths in the range from 160,000 per annum (in the near term) to almost 350,000 (at the end of the century) in the business-as-annual. We examine the number of life-years lost due to the five selected risks and find figures ranging from 5 to 10 millions annually. These numbers are too low to impact the aggregate dynamics and we do not find significant feedback effects of climate mortality to production, and thus emissions and temperature increase. But we do find interesting evolution patterns. The number of life-years lost is constant (business-as-usual) or decreases over time (3°C and 2°C). For the stabilisation scenarios, we find that the number of life-years lost is higher today than in 2100, due to improvements in generic mortality conditions, the bias of those improvements towards the young, and an ageing population. From that perspective, the present generation is found to bear the brunt of the considered climate change impacts. |
| Keywords: | Mortality risk,Integrated assessment model,Endogenous population,Impacts,Climate change |
| Date: | 2020–12–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03048602&r= |
| By: | Sobyra, Robert; Sigler, Thomas; Charles-Edwards, Elin |
| Abstract: | This paper investigates the role of human capital in explaining divergent employment growth within advanced economies. It adds a spatial dimension to William J. Baumol’s theory of ‘unbalanced growth’ by linking it with the concept of ‘job polarization’. We develop a theory of ‘geographical unbalanced growth’ that explains divergent employment trajectories in terms of skill restructuring. The theory is operationalized via a novel shift–share extension, which is applied to Australian data. We find evidence of ongoing regional divergence and for our proposed mechanism. The findings reinforce the importance of active policies to attract high-skilled jobs to non-metropolitan regions. |
| Date: | 2021–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:2ywd8&r= |
| By: | Cheng, John W. |
| Keywords: | synchronous online classes,COVID-19 isolation and distress,sense of coherence,social capital |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238014&r= |
| By: | Barr, Nicholas |
| Abstract: | This paper explores the nature of reciprocity between workers and pensioners, starting from the observation that what pensioners consume has mostly to be produced by younger workers, and therefore reciprocity in some form is inherent. The opening section argues that a worker can try to arrange consumption in retirement by (a) storing current production or (b) building claims on future production. However, storing current production (the squirrels model) does not work well, so that the main vehicle is building claims on future production. There are two approaches to doing so – through promises (which lie at the core of Pay-As-You-Go (PAYG) plans), or by accumulating financial assets which can be exchanged for goods and services (the basis of funded plans). The second part of the paper establishes that a central element in assessing pension arrangements is the extent to which investment is in productive assets. The third part considers the durability of different pension regimes. The paper’s central conclusions are (a) that reciprocity is inherent in pension plans, (b) that the specifics of pension design are in many ways secondary, and (c) that what really matters are economic growth (increasing what is available to share between workers and pensioners) and good government (which will manage PAYG pensions responsibly and/or sustain the economic stability and regulatory capacity that underpin funded pensions). |
| Keywords: | pensions; funding; pay-as-you-go; reciprocity; social security; saving; investment |
| JEL: | D63 E21 E22 E24 J14 J18 |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111927&r= |
| By: | Ahmed, Akhter; Hoddinott, John F.; Roy, Shalini |
| Abstract: | In Bangladesh, social protection programs have the potential to uplift the most vulnerable out of poverty. Until recently, however, these programs have had little impact on nutrition. Results from a randomized controlled trial in Bangladesh – the Transfer Modality Research Initiative – provides the proof of concept that combining social safety net transfers with nutrition behavior change communication (BCC) can significantly improve household food security and child nutrition, and these impacts can be sustained over time. |
| Keywords: | BANGLADESH; SOUTH ASIA; ASIA; nutrition; social protection; social safety nets; cash transfers; policies; poverty; food security; behavior change communication |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:prnote:1261696987&r= |
| By: | Acharya, Tri D.; Jenn, Alan T.; Miller, Marshall R.; Fulton, Lew M. |
| Abstract: | Researchers at UC Davis developed “Spatial Transportation Infrastructure, Energy, Vehicles, and Emissions (STIEVE),” an optimization model for hydrogen refueling stations in California. The model uses inputs from the California Statewide Travel Demand Model (CSTDM) and other sources to determine heavy-duty vehicle travel demand across the state, and the corresponding, localized energy demand. The model then determines which of the transportation analysis zones (areas based on census geography used to replicate areas of trip origins and destinations) delineated by the CSTDM are optimal areas for refueling stations and the number of stations needed in each zone to meet demand while minimizing costs. The final step is a suitability analysis that identifies each station’s specific location within a designated transportation analysis zone, based on a determined footprint for the refueling station. |
| Keywords: | Engineering |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt2qw8464c&r= |
| By: | global financial governance issues, IRC Task Force on IMF |
| Abstract: | The global recession caused by the COVID-19 pandemic and the resulting deterioration in many countries’ public finances have increased the risk of sovereign debt crises. Although crisis prevention remains paramount, these developments have made it imperative to re-examine the adequacy of the current toolkit for crisis management and resolution, in a context where changes in the creditor base and in the composition of public debt instruments have brought about new challenges in terms of reduced transparency and additional barriers to achieving inter-creditor equity. This report focuses on the international architecture for sovereign debt restructurings (SODRs), as seen through the lenses of the International Monetary Fund (IMF or “the Fund”) and with a special attention to the role that the Fund can play in facilitating orderly restructuring processes. It provides a set of findings and recommendations in relation to certain key elements of the Fund’s lending framework that have important ramifications on SODR processes, namely debt sustainability assessments (DSAs), the exceptional access policy (EAP) for financing above normal access limits, and the criteria for lending to countries with payments arrears to private creditors (LIA) or official bilateral creditors (LIOA). It also considers other indirect channels through which the Fund can affect SODRs, including its support for enhancing the transparency and public disclosure of sovereign debt information, its collaboration with the Paris Club and the G20 debt-related initiatives, the promotion of contractual standards for sovereign debt, and the monitoring of relevant legislative developments. JEL Classification: F34, F55, H63 |
| Keywords: | debt restructuring regime, International Monetary Fund, sovereign debt, sovereign default |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbops:2021262&r= |
| By: | Robert Spizzichino; Gilles Maréchal (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); Jean-Claude Devèze |
| Abstract: | S'inspirant de la pensée anti-utilitariste de Marcel Mauss, les « convivialistes » 1-des économistes, sociologues, anthropologues, philosophes, ingénieurs, etc.-réfléchissent à de nouvelles voies pour sortir des impasses du paradigme néo-libéral et agro-industriel. Divers sujets leur permettent d'envisager un avenir commun en cherchant des alternatives. L'article traite de la table, lieu qui rassemble, par l'alimentation et la façon de la produire qui sont de puissants leviers de changement. |
| Date: | 2021–02–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03331514&r= |
| By: | Robert Grant (BayesCamp Ltd) |
| Abstract: | In this talk, I will review the range of current software that can be used for Bayesian analysis. By considering the features, interfaces and algorithms, the users and their backgrounds, the popular models and use cases, I will identify areas where Stata has a strategic or technical advantage, and where useful advances can be built into future versions or community-contributed commands, without excessive effort. Stata has developed Bayesian modelling within the framework of its own ado syntax, which has some strengths (for example, the bayes: prefix on familiar and tested commands) and some weaknesses (for example, the limitations to specifying a complex bespoke likelihood or prior). On the other hand, there are Stata components such as the SEM Builder GUI, which would potentially be very popular with beginners in Bayes if they were adapted. I will also examine the concept of a probabilistic programming language to specify a model in linked conditional formulas and probability distributions, and how it can work with Stata. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:10&r= |
| By: | Daniele Girardi (Department of Economics, University of Massachusetts Amherst (USA)); Sai Madhurika Mamunuru (Department of Economics, Whitman College (USA)); Simon D Halliday (School of Economics, University of Bristol (UK)); Samuel Bowles (Santa Fe Institute (USA)) |
| Abstract: | It is widely held that studying economics makes you more selfish and politically conservative. We use a difference-in-differences strategy to disentangle the causal impact of economics education from selection effects. We estimate the effect of four different intermediate microeconomics courses on students’ experimentally elicited social preferences and beliefs about others, and policy opinions. We find no discernible effect of studying economics (whatever the course content) on self-interest or beliefs about others’ self-interest. Results on policy preferences also point to little effect, except that economics may make students somewhat less opposed to highly restrictive immigration policies. |
| Keywords: | endogenous preferences, economics education, social preferences, self-interest, generosity, altruism, reciprocity, microeconomics, teaching |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-07&r= |
| By: | Kramer, Berber; Waweru, Carol; Waithaka, Lilian; Eyase, Jean; Chegeh, Joseph; Kivuva, Benjamin; Cecchi, Francesco |
| Abstract: | Climate change has exacerbated the frequency and severity of extreme weather events affecting the livelihoods of millions of smallholder farmers across Sub-Saharan Africa. Risks such as increased droughts, pests, floods, and heatwaves are projected to increase significantly in future years. The formal seed sector is an important entry point to help farmers better manage these risks, as it provides access to high-quality certified seeds of improved stress-tolerant varieties, selected and bred to maximize productivity in good years, whilst reducing the impact of climate change risks in bad years. The challenge, however, is that the formal market is not always inclusive and is more accessible to middle- or largescale (and often male) farmers. Smaller farmers (often female) are more likely to obtain seeds from informal sources (friends or peers) or collect their own seeds from the crops they grow. This creates social inequities in distribution channels for quality seeds; and in qualitative research, farmers informed us that the COVID-19 pandemic has further restricted their access to inputs. |
| Keywords: | KENYA; EAST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; models; modelling; inclusion; seeds; farmers; entrepreneurship; seed delivery |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:prnote:1265314309&r= |
| By: | J.Ignacio Conde-Ruiz (Universidad Complutense de Madrid and ICAE (Spain).); Juan-José Ganuza (Universitat Pompeu Fabra and Barcelona GSE.); Manu García (Washington University in St. Louis and ICAE.); Luis A. Puch (Universidad Complutense de Madrid and ICAE (Spain).) |
| Abstract: | We analyze all the articles published in the top five (T5) Economics journals be- tween 2002 and 2019 in order to find gender differences in their research approach. We implement an unsupervised machine learning algorithm: the Structural Topic Model (STM), so as to incorporate gender document-level meta-data into a probabilistic text model. This algorithm characterizes jointly the set of latent topics that best fits our data (the set of abstracts) and how the documents/abstracts are allocated to each latent topic. Latent topics are mixtures over words where each word has a probability of belonging to a topic after controlling by journal name and publication year (the meta-data). Thus, the topics may capture research fields but also other more subtle characteristics related to the way in which the articles are written. We find that fe- males are unevenly distributed along the estimated latent topics, by using only data driven methods. This finding relies on “automatically” generated built-in data given the contents in the abstracts of the articles in the T5 journals, without any arbitrary allocation of texts to particular categories (as JEL codes, or research areas). |
| Keywords: | Machine Learning; Gender Gaps; Structural Topic Model; Gendered Language; Research Fields. |
| JEL: | I20 J16 Z13 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:ucm:doicae:2109&r= |
| By: | Nicolai Suppa (Centre d'Estudis Demografics, Autonomous University of Barcelona) |
| Abstract: | The Global Multidmensional Poverty Index (MPI) is a cross-country poverty measure published by the Oxford Poverty and Human Development Initiative since 2010. The estimation requires household survey data because multidimensional poverty measures seek to exploit the joint distribution of deprivations in the identification step of poverty measurement. Analyses of multidimensional poverty draw on several aggregate measures (e.g., the headcount ratio), dimensional quantities (e.g., indicator contributions), and auxiliary statistics (e.g., non-response rates). Robustness analyses of key parameters (e.g., poverty cutoffs) and several levels of analysis (e.g., subnational regions) further increase the number of estimates. In 2018 the underlying workflow has been revised and subjected to continuous development, which for the first time allowed figures to be calculated for 105 countries in a single round. In 2021, this workflow was substantially expanded to include the estimation of changes over time. In 2021 the regular global MPI release includes 109 countries (with 1291 subnational regions) whereas changes over time are provided for 84 countries with 793 subnational regions over up to three years. In total this release builds on 220 micro datasets. For a large-scale project like this, a clear and efficient workflow is essential. This presentation introduces key elements of the workflow and presents solutions with Stata for particular problems, including the structure of a comprehensive results file, which facilitates both analysis and production of deliverables, the usability of the estimation files, the collaborative nature of the project, the country briefing production, and how some of the additional challenges introduced by the incorporation of changes over time have been addressed so far. This presentation seeks to share the gained experience and to subject both the principal workflow and selected solutions to public scrutiny. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:2&r= |
| By: | Hariharan, Naveen Kunnathuvalappil |
| Abstract: | Cyber-attacks on critical infrastructure, as well as the possibility of cyber-terrorism and even cyberwarfare, pose a threat to societies on a larger scale. Stakeholders are vulnerable to information theft, service disruptions, privacy and identity theft, fraud, espionage and sabotage. This article provides a brief overview of risk management, with a particular emphasis on cyber security and cyber-risk assessment. This article provides an overview of risk management, with a particular emphasis on cyber security detection, prevention, and mitigation techniques. We showed how organizations could mitigate their cyber risk with careful management. |
| Date: | 2020–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:skxec&r= |
| By: | Bertram, Christine; Quaas, Martin; Reusch, Thorsten B.H.; Vafeidis, Athanasios T.; Wolff, Claudia; Rickels, Wilfried |
| Abstract: | Carbon sequestration and storage in mangroves, salt marshes and seagrass meadows is an essential coastal ‘blue carbon’ ecosystem service for climate change mitigation. Here we offer a comprehensive, global and spatially explicit economic assessment of carbon sequestration and storage in three coastal ecosystem types at the global and national levels. We propose a new approach based on the country-specific social cost of carbon that allows us to calculate each country’s contribution to, and redistribution of, global blue carbon wealth. Globally, coastal ecosystems contribute a mean ± s.e.m. of US$190.67 ± 30 bn yr−1 to blue carbon wealth. The three countries generating the largest positive net blue wealth contribution for other countries are Australia, Indonesia and Cuba, with Australia alone generating a positive net benefit of US$22.8 ± 3.8 bn yr−1 for the rest of the world through coastal ecosystem carbon sequestration and storage in its territory. |
| Keywords: | Climate-change mitigation,Economics,Marine biology |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:240209&r= |
| By: | Eric Dunipace |
| Abstract: | Weighting methods are a common tool to de-bias estimates of causal effects. And though there are an increasing number of seemingly disparate methods, many of them can be folded into one unifying regime: causal optimal transport. This new method directly targets distributional balance by minimizing optimal transport distances between treatment and control groups or, more generally, between a source and target population. Our approach is model-free but can also incorporate moments or any other important functions of covariates that the researcher desires to balance. We find that the causal optimal transport outperforms competitor methods when both the propensity score and outcome models are misspecified, indicating it is a robust alternative to common weighting methods. Finally, we demonstrate the utility of our method in an external control study examining the effect of misoprostol versus oxytocin for treatment of post-partum hemorrhage. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.01991&r= |
| By: | Centro de Investigaciones para el Desarrollo |
| Abstract: | Este texto reúne los análisis de los profesores de la Facultad de Ciencias Económicas e investigadores del CID de la Universidad Nacional sobre la actual coyuntura del ciclo de movilizaciones en curso en Colombia, con particular referencia al análisis de los sujetos del paro, sus paradigmas y supuestos sesgos ideológicos, y sobre opciones de políticas públicas para salir adelante como país. *** This study gathers the analyses of the professors of the Faculty of Economics and the researchers of the CID of the Universidad Nacional on the ongoing cycle of mobilizations in Colombia, with particular reference to the analysis of the subjects of the strike, their paradigms and alleged ideological biases, and on public policy options to move forward as a country. |
| Keywords: | campesinos, indígenas, policía, reforma, bioeconomía, economía heterodoxa, regla fiscal, informalidad, acuerdo de paz, ingreso mínimo garantizado; género; identidad social |
| JEL: | H12 H23 H41 H51 H53 J15 J16 J24 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:col:000426:019563&r= |
| By: | Tania Babina; Alex Xi He; Sabrina T. Howell; Elisabeth Ruth Perlman; Joseph Staudt |
| Abstract: | U.S. universities, which are important producers of new knowledge, have experienced a shift in research funding away from federal and towards private industry sources. This paper compares the effects of federal and private university research funding, using data from 22 universities that include individual-level payments for everyone employed on all grants for each university year and that are linked to patent and Census data, including IRS W-2 records. We instrument for an individual’s source of funding with government-wide R&D expenditure shocks within a narrow field of study. We find that a higher share of federal funding causes fewer but more general patents, more high-tech entrepreneurship, a higher likelihood of remaining employed in academia, and a lower likelihood of joining an incumbent firm. Increasing the private share of funding has opposite effects for most outcomes. It appears that private funding leads to greater appropriation of intellectual property by incumbent firms. |
| Keywords: | R&D, Science, Universities, Innovation, Entrepreneurship |
| JEL: | O3 G18 G38 I2 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:21-26&r= |
| By: | Richard Foltyn; Jonna Olsson |
| Abstract: | Using biennial data from the Health and Retirement Study, we estimate age-dependent health dynamics and survival probabilities at annual frequency conditional on race, sex, and health. The health gradient in life expectancy is steep and persists after controlling for socioeconomic status. Moreover, even conditional on health and socioeconomic status, the racial gap in life expectancy remains large. Simulations show that this gap affects savings rates but does not play a major role in explaining the racial wealth gap. However, differences in mortality imply that black individuals on average can expect to receive 15% less in Social Security benefits in present value terms. |
| Keywords: | Life expectancy, health dynamics, racial life expectancy gap |
| JEL: | C23 E21 I14 J14 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:gla:glaewp:2021_17&r= |
| By: | Benjamin Monnery; Saïd Souam; Anna Montagutelli |
| Abstract: | In France as in other countries, prison faces the challenge of securing inmates' reentry and preventing recidivism. Theoretically, prison work offers a direct opportunity to improve reentry prospects, but only one quarter of prisoners have access to work today in France, compared to 36% twenty years ago. This article provides a summary of the challenges at stake with prison work. It reviews the theoretical and empirical research on the impacts of rehabilitation programs and discusses the potentiel effects of prison work on social welfare. The article also makes the case that the supply of prison work and public spending in this area are insufficient in France, considering the externalities involved. Finally, the article develops public policy recommendations for prison work to deliver its full potential. |
| Keywords: | prison ; work ; reentry ; recidivism ; public policies |
| JEL: | K42 K14 J45 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2021-26&r= |
| By: | Tong, Antonia |
| Abstract: | The 21st century sees a sharp increase in political, military, and economic competition. A country's competitive position in the world is measured by the strength of its economy. Since 2009 bitcoin was created, the decentralized economy became the trending research topic on google in 2021. Many developing countries try their best to find a way to decentralize their high-cost operations and optimize possible resources. Decentralization, as opposed to centralization, is the procedure through which a firm's operations, especially those concerning planning and management, are spread or outsourced away from the centralized, dominant place, group, and bureaucracy. It is definitive as a component of the decentralized economy since it is a set of commodities that enable the community to have sovereignty over an individual’s wealth without requiring third parties, such as a bank. Regional essential services are chosen by publicly elected officials in a decentralized economy system, whereas policy decisions are decided by a parliament comprised of elected members from each region in a centralized economic system. Two types of parliamentary conduct are explored. This thesis offers a foundation for choice, comparative, and a category of schemes for managerial decision is established, and decentralized (in the classic sense), centralized, and unconstrained economic subclasses are studied in both the United States and China. It also identified and discussed the channels through which a decentralized economic system can contribute to the economic growth. In a basic illustrative structure, parameters for rating the schemes are developed and used. It is discovered that a universal predilection for one of the subcategories cannot be justified without significantly reducing the model's possibilities in the United States and China. |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:osf:thesis:m986x&r= |
| By: | Claire Rimbaud (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - CNRS - Centre National de la Recherche Scientifique - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UL2 - Université Lumière - Lyon 2 - ENS Lyon - École normale supérieure - Lyon); Alice Soldà (Heidelberg University) |
| Abstract: | Pro-social individuals face a trade-off between their monetary and moral motives. Hence, they may be tempted to exploit the uncertainty in their decision environment in order to reconcile this trade-off. In this paper, we investigate whether individuals with belief-dependent preferences avoid the monetary cost of behaving according to their moral standards by strategically acquiring information about others'expectations. We test the predictions of an information acquisition model in an online experiment. We use a modified trust-game in which we introduce uncertainty about the second movers' beliefs about first-movers' expectations. Our design enables to (i) identify participants with belief-based preferences and (ii) investigate their information acquisition strategy.Consistent with our predictions of subjective preferences, we find that most individuals classified as belief-dependent strategically select their source of information to avoid the cost of their conscience. |
| Keywords: | Belief-dependent preferences,illusory preferences,information acquisition,self-serving biases,experiment Belief-dependent preferences,experiment |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03325963&r= |
| By: | George Vamvakas (Department of Biostatistics & Health Informatics, Institute of Psychiatry, King's College London) |
| Abstract: | The use of auxiliary variables with maximum likelihood parameter estimation for surveys that miss data by design is not a widespread approach. Although efficiency gains from the incorporation of Normal auxiliary variables in a model have been recorded in the literature, little is known about the effects of non-Normal auxiliary variables in the parameter estimation. We simulate growth data to mimic SCALES, a two-stage longitudinal survey of language development. We allow a fully observed Poisson stratification criterion to be correlated with the partially observed model responses and develop five models that host the auxiliary information from this criterion. We compare these models with each other and with a weighted model in terms of bias, efficiency, and coverage. We apply our best performing model to SCALES data and show how to obtain growth parameters and population norms. Parameter estimation from a model that incorporates a non-Normal auxiliary variable is unbiased and more efficient than its weighted counterpart. The auxiliary variable method can produce efficient population percentile norms and velocities. When a fully observed variable, which dominates the selection of the sample and which is strongly correlated with the incomplete variable of interest exists, its utilisation appears beneficial. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:8&r= |
| By: | Zhao Xu (StataCorp) |
| Abstract: | Stata 16 introduced tight integration with Python, allowing users to embed and execute Python code from all of Stata's programming environments, such as Command Window, do-files and ado-files. Stata 17 introduced the pystata Python package. With this package, users can call Stata from various Python environments, including Jupyter Notebook, Jupyter Lab, Spyder IDE, PyCharm IDE, and system command-line environments that can access Python (Windows Command Prompt, macOS terminal, Unix terminal). In this talk, I will introduce two ways to run Stata from Python: the IPython magic commands and a suite of API functions. I will then demonstrate how to use them to seamlessly pass data and results between Stata and Python. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:12&r= |
| By: | Nicolás Urdaneta Andrade |
| Abstract: | Este artículo estudia la existencia de sesgos de género en las evaluaciones de docencia de una universidad en Colombia. Para esto, se utiliza un modelo de regresión lineal con efectos fijos de estudiante y que controla por características de los estudiantes, profesores y los cursos. Se encuentra que, en promedio, las profesoras de planta reciben evaluaciones 0.07 desviaciones estándar menores que sus pares masculinos. Mientras que, no hay diferencias por género entre asistentes graduados ni profesores de cátedra. Sin embargo, las heterogeneidades son amplias. En cursos con profesores de 35-55 años, con más de 50 estudiantes, o entre menor sea la fracción de estudiantes mujeres, las profesoras son penalizadas más fuertemente. En estos casos se encuentran sesgos entre 0.1-0.2 desviaciones estándar y representan el 40% de las evaluaciones. Adicionalmente, las mujeres tienden a ser descritas con palabras relacionadas a características personales ("amable" o "comprensiva") y los hombres con temas asociados al curso o con adjetivos positivos ("tema", "parcial", "crack"). A partir de lo anterior, se proponen medidas que disminuyan los sesgos en los estudiantes y un análisis de las evaluaciones consciente de las diferencias por género |
| Keywords: | genero; profesor; evaluación docente; sesgos. |
| JEL: | J16 I21 I29 C52 |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019557&r= |
| By: | Céline Merlin-Brogniart (CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique); Lars Fuglsang (Roskilde University); Ada Scupola (Roskilde University); Anne Hansen (Roskilde University); Rolf Rønning (The Inland Norway University of Applied Sciences); Siv Magnussen (The Inland Norway University of Applied Sciences); Alberto Peralta (UAH - Universidad de Alcalá - University of Alcalá); Miklós Rosta (Corvinus University of Budapest); Márton Katona (Corvinus University of Budapest); Éva Révész (Corvinus University of Budapest) |
| Abstract: | In the context of the modernization of public management in Europe, the attention paid to social entrepreneurs for innovation is increasingly important. This paper reveals that these actors significantly contribute to the development of collaborative governance aimed at improving social innovation related to public service through their role as initiator, boundary spanner or network leader. However, the public sector actors involved in the governance also have a significant role to play in enabling these innovations to emerge. This paper analyzes the forms and processes of innovation taken by this multi-actors collaborative governance. It is based on the study of 25 case studies associated with five countries of the European Union. |
| Date: | 2021–01–21 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03333560&r= |
| By: | MORIKAWA Masayuki |
| Abstract: | Using panel data from original surveys conducted in June 2020 and July 2021, this study analyzes the changes in adoption and productivity of working from home (WFH) during the COVID-19 pandemic. First, the results indicate that the mean WFH productivity has improved by more than ten percentage points in the past year, although it is still approximately 20% lower compared to when working in the office. 1) "Selection effect" arising from the exit of workers with relatively low WFH productivity from the WFH practice and 2) the improvement in WFH productivity through the "learning effect" contributed almost equally to the productivity growth of WFH. Second, additional working hours extracted from reduced commuting are approximately 3.0% and 0.7% of the total labor input of WFH workers and all workers, respectively. Even after adjusting for additional working hours from reduced commuting, the conclusion of relatively low productivity at home remains essentially unchanged. Third, the percentage of employees who want to continue frequent WFH after the end of the pandemic has increased substantially, suggesting that WFH may become a popular workstyle. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:21078&r= |
| By: | Lassana Toure (Université de Ségou); Atoumane Diagne; Amadou Traore |
| Abstract: | This paper reports an analysis of the statistical data and a socioeconomic impact analysis of COVID-19. The pandemic started in Asia, particularly China, in December 2019 and continued until it peaked there at the end of February 2020. Europe has seen a dramatic increase in the number of confirmed cases and deaths since March 2020. At the same time, and to a lesser extent, North America, including the USA, has gradually taken over and now contains more new positive cases than anywhere else in the world. In contrast, South America, like Brazil, was the epicentre of the pandemic at the end of August 2020. Africa and Oceania are modestly affected by the pandemic. Econometric estimates were made assuming that the COVID-19 pandemic continues until December 2021. The results show that the duration of the peak of the pandemic would not exceed 400 days worldwide, if during the first 24 months the number of new cases never exceeds 800,000, and in the absence of an effective vaccine and treatment. The measures currently being implemented in many countries to prevent the spread of the disease (social distancing, closing of markets, confinement, banning of gatherings, etc.) are having a profound impact on the various markets and, through them, on the living conditions of households. The number of unemployed may increase. World trade and world prices of financial assets are in free fall. The State and the Central Banks will be obliged to intervene to revive economic activity and regulate certain prices of necessity. This pandemic, through barrier measures, is causing new social developments across the planet. It emphasises the idea that science, techniques and technologies are largely limited. Health and social systems are gradually destabilised. The pandemic suddenly affects religions, socio-professional activities, cultures, the functioning of transport and consumption systems. A new social and economic order is gradually taking shape in place of individualism, notably with a return to communitarian values and the emergence of new behaviours. |
| Keywords: | COVID-19 Impact Analysis,Econometric Forecasting,Global Economy,Societies,New World Order |
| Date: | 2021–05–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03334548&r= |
| By: | Laurent, Thibault; Margaretic, Paula; Thomas-Agnan, Christine |
| Abstract: | The rapidly increasing dimensionality and throughput of flow data require new tools for analysis and interpretation. This paper provides open source tools for the exploration and analysis of origin-destination spatial flow data. We integrate in a single open source R software tool existing visualization techniques for complex OD flow data, as well as new graphical representations. We discuss implementation of these tools from a practitioner point of view. These tools should help scholars to extract meaningful relations between entities accounting at the same time for the intensity of the movements (or relations) and the geography linking the spatial units |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:125949&r= |
| By: | Natalia Poiatti (Instituto de Relações Internacionais - USP) |
| Abstract: | This paper investigates how the announcements of the European Central Bank have impacted the cost of sovereign borrowing in central and peripheral European countries. Using the xtbreak command (Ditzen, Karavias and Westerlund, 2021) in Stata, we tested whether the variations of European sovereign spreads can be explained by economic fundamentals in a model that allows for two structural breaks: the first, when investors realized the fiscal sustainability of the EMU should be understood in a decentralized fashion, when the ECB announced it would not bail out Greece; the second, when the ECB realized the existence of the euro was in check and announced it would be able to financial assist the countries in financial trouble. We show that a model that allows for structural breaks after the ECB announcements can explain most of the variations in European sovereign spreads. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:11&r= |
| By: | Tii N. Nchofoung (University of Dschang, Cameroon); Simplice A. Asongu (Yaoundé, Cameroon); Arsène A. Njamen Kengdo (University of Dschang, Cameroon); Elvis D. Achuo (University of Dschang, Cameroon) |
| Abstract: | The objectives of this paper are to verify the linear and the non-linear effects of infrastructural development on inclusive human development in Africa. The results of the system GMM estimations show a positive effect of infrastructural development on inclusive development across all the infrastructural development indexes employed, except the ICT infrastructural composite index which presents an insignificant negative effect. Besides, a non-linear effect of infrastructures on inclusive development was established across all the infrastructure indicators except for the ICT indicator. Negative thresholds for complementary policies are established for the African Infrastructure Development Index (AIDI) and the transport index while positive thresholds are apparent for the electricity index and the water and sanitation infrastructure index (WSS). Accordingly, in order to sustain the positive incidence of the AIDI and transport index on human development, complementary policies should be engaged to avoid an overall negative effect on human development when the indexes are respectively, 31.12% and 25.56%. In the same vein, the electricity index and WSSI should exceed critical levels of respectively 49.79% and 41.92%, to engender an overall positive effect on inclusive human development. |
| Keywords: | Infrastructure; Inclusive development: Africa |
| JEL: | N67 N77 C23 I00 O55 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:abh:wpaper:21/039&r= |
| By: | Ignatov Aleksandr (RANEPA); Larionova Marina (RANEPA); Popova Irina (RANEPA); Sakharov Andrey (RANEPA); Shelepov Andrey (RANEPA) |
| Abstract: | The whole complex of pandemic, economic, and social crises has become a kind of a stress test for the system of multilateral cooperation as it is weakened by geopolitical conflicts, contradictions between the key members and growing mistrust due to stalled reforms of international organizations and their inability to cope with a host of global issues. Even prior to the pandemic outbreak, 2020 did not promise to be easy. Deepening inequality, deceleration of economic growth, acceleration of climate change, fiercer competition for digital technologies, and the fragmentation of cyberspace demanded joint efforts at the regional and global levels. The human toll, contraction of GDP by 5.2%, a 13% drop in trade, a 60% plunge in oil prices,4 and a loss of an equivalent of 495 mn of full time jobs5 have aggravated long-term challenges by simultaneously casting aside cooperation to overcome them. In this context, it was paramount to balance the urgent agenda and long-term objectives. |
| Keywords: | Russian economy, international organizations, international institutional arrangements |
| JEL: | F5 F53 F55 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1137&r= |
| By: | Oxelheim, Lars (Research Institute of Industrial Economics (IFN)); Randøy, Trond (School of Business and Law) |
| Abstract: | Based on historical analogies, we emphasize a connection between financial crises and technological shifts where the shift calls for a structural economic transformation. We discuss how political pressures related to this structural transformation pave the way for the return of a new form of Mercantilism. This time it is the competition for high-tech jobs that drives politicians to be more nationalistic. Our conclusion is that the race for jobs in a period of technology shift, coupled with experimental efforts by central banks, will lead to the need for a post-covid 19 reorganization of international companies’ global logistics chain. The current pandemic will act as a catalyst to this very transformation. |
| Keywords: | Global logistic chain; Post-Covid era; State aid; Technology shift; Job creation |
| JEL: | E58 F16 F23 F34 G01 |
| Date: | 2021–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1404&r= |
| By: | Roberto Blanco (Banco de España); Sergio Mayordomo (Banco de España); Álvaro Menéndez (Banco de España); Maristela Mulino (Banco de España) |
| Abstract: | This paper analyses the impact of the COVID-19 crisis on the financial vulnerability of the Spanish corporate sector. The simulations conducted show that the crisis significantly increased firms’ liquidity needs in 2020, although the measures adopted by national and international authorities eased access to credit under favourable conditions, which substantially mitigated the short-term liquidity risks. However, the sharp fall in profitability levels, coupled with debt growth, appears to have resulted in a marked increase in the proportion of vulnerable firms (i.e. those with negative equity or high debt levels), which would be more pronounced among SMEs and the sectors hardest hit by the pandemic. The projections for the period 2021-2023 indicate a gradual decline in these percentages, in keeping with the expected recovery in activity. The results also suggest that, as a result of the crisis, the proportion of firms at risk of becoming non-viable on account of persistent losses through to 2023 would rise by between 2 pp and 3 pp, while the proportion of those that will remain viable but struggle to repay their debts out of their expected future earnings (overindebted firms) would rise by between 3 pp and 4.7 pp. In addition, the simulations show that the unsustainable debt of firms that have become overindebted but remain viable would stand between €9 billion and €18.6 billion, depending on the scenario considered, with the bulk of this amount accounted for by SMEs. |
| Keywords: | COVID-19, liquidity needs, profitability, indebtedness, credit, solvency, viability |
| JEL: | E51 E52 G21 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:opaper:2119e&r= |
| By: | Nobuyuki Hanaki; Keigo Inukai; Takehito Masuda; Yuta Shimodaira |
| Abstract: | We summarize the experimentally measured characteristics of the registered participants of the experiments conducted at the Institute of Social and Economic Research, Osaka University. Measured characteristics include fluid intelligence, risk preference (risk aversion, prudence, and temperance), social value orientation, theory of mind, personality (Big Five and Grit), ability to backward induct, as well as their general trust. We discuss reliability of these measures and correlation among them. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:dpr:wpaper:1141&r= |
| By: | Alex Bryson (Univerity College London, NIESR, and IZA); Andrew E. Clark (Paris School of Economics, CNRS and IZA); Colin P. Green (Norwegian University of Science and Technology and IZA) |
| Abstract: | A small literature has shown that individual wellbeing varies with the price of company stock, but it is unclear whether this is due to wealth effects among those holding stock, or more general effects on sentiment, with individuals taking rising stock prices as an indicator of improvements in the economy. We contribute to this literature by using two data sets to establish the relationship between share prices on the one hand and worker wellbeing on the other. First, we use data on share price movements and employee stock holding in a single corporation and provide suggestive evidence that an increase in the firm’s stock price increases the wellbeing of those who belong to its employee share purchase plan (ESPP), and that these effects are greatest among those making the largest monthly contributions to the program who have the most to gain (or lose) from stock price fluctuations. There is also some tentative evidence that the wellbeing effects of a rise in the share price are greatest among those with the largest shareholdings. We then use almost 30 years of British panel data to show that employee job satisfaction moves with share prices among those whose pay is partly determined by company fortunes. Taken together these results suggest that the well-being effects of share prices work at least partly via changes in wealth. |
| Keywords: | Job Satisfaction; Wellbeing; Share Prices; Share Ownership; Profit-Sharing |
| JEL: | J28 J33 J54 J63 J81 M52 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:qss:dqsswp:2126&r= |
| By: | de Gendre, Alexandra (University of Sydney); Lynch, John (University of Adelaide); Meunier, Aurélie; Pilkington, Rhiannon (University of Adelaide); Schurer, Stefanie (University of Sydney) |
| Abstract: | We estimate the impact on child health of the unanticipated introduction of the Australian Baby Bonus, a $3,000 one-off unconditional cash transfer at birth. Using regression discontinuity methods and linked administrative data from South Australia, we find that treated babies had fewer preventable, acute, and urgent hospital presentations—medical care available without co-payments—in the first two years of life. The payment later increased demand for elective care, which requires planning, medical referrals, and often co-payments. Our effects are strongest for disadvantaged families. Our findings suggest that up to 34% of the payout were recouped within the first year. |
| Keywords: | unconditional cash transfers, baby bonus, child health, health care utilization, regression discontinuity design, natural experiment, linked administrative data |
| JEL: | I14 I38 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14693&r= |
| By: | Nicholas J. Cox (University of Durham, UK) |
| Abstract: | Ordered or ordinal variables, such as opinion grades from Strongly disagree to Strongly agree, are common in many fields and a leading data type in some. Alternatively, orderings may be sought in the data. In archaeology and various environmental sciences, there is a problem of seriation, at its simplest finding the best ordering of rows and columns given a data matrix. For example, the goal may be to place archaeological sites in approximate date order according to which artefacts have been found where. Graphics for such data may appear to range from obvious but limited (draw a bar chart if you must) to more powerful but obscure (enthusiasts for complicated mosaic plots or correspondence analyses need to convince the rest of us). Alternatively, graphics are avoided and the focus is only on tabular model output with estimates, standard errors, P-values and so forth. The need for descriptive or exploratory graphics remains. This presentation surveys various graphics commands by the author, made public through the Stata Journal or SSC, that should not seem too esoteric, principally friendlier and more flexible bar charts and dedicated distribution or quantile plots. Specific commands include tabplot, floatplot, qplot and distplot. Mapping grades to scores and considering frequencies, probabilities or cumulative probabilities on transformed scales are also discussed as simple strategies. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:22&r= |
| By: | Sabrine Acosta Schnell (UCR - Universidad de Costa Rica) |
| Abstract: | Mini-cities are negotiated and advertised as new real estate products that contribute to various changes for adapting local realities and to the challenges imposed by metropolises. This article deals with how the real estate market uses the historical Costa Rican green exceptionalism and the architectural theory of New Urbanism (NU) to inspire the design of mixed-use projects called mini-cities, in Costa Rica and, thus justify the sale and promotion of alleged "new" urban products. The methodological strategy includes a brief historical analysis of concepts that concatenate in a discussion about advertising discourse and landscaping techniques, since this is a window for understanding the "discursive mechanisms" of various actors. The selected case study is the oldest Costa Rican mini-city: Avenida Escazú. The contribution of the article is a reflection on the symbolic advertising discourse, from the perspective of urban geography and semiotics, to identify how the private sector uses green exceptionalism to justify the "novelties" in the dynamics of consumption in mini-cities. It offers to go beyond a classic binary conclusion and, in this way, questions and highlights the complexity of the NU in Costa Rica. It is concluded that the private sector participates in the mutation of spaces, practices and exchanges in various urban forms, providing what the public sector has not been able to satisfy: the feeling of security, cleanliness, fashion, tranquility and comfort related to traditional urban forms. |
| Abstract: | Las miniciudades son negociadas y publicitadas como nuevos productos inmobiliarios que contribuyen a diversos cambios para adaptarse a las realidades locales y a los retos que imponen las metrópolis. Este artículo trata sobre cómo el mercado inmobiliario utiliza el excepcionalismo verde costarricense y la teoría arquitectural del Nuevo Urbanismo (NU) para inspirar el diseño de los proyectos de uso mixto llamados miniciudades en Costa Rica, y así justificar la venta y promoción de supuestos "nuevos" productos urbanos. La estrategia metodológica incluye un breve análisis histórico de conceptos que concatenan en una discusión sobre el discurso publicitario y las técnicas de paisajismo ya que esta es una ventana para la comprensión de los "mecanismos discursivos" de diversos actores. El caso de estudio seleccionado es la miniciudad costarricense más antigua: Avenida Escazú. La contribución del artículo es una reflexión sobre del discurso simbólico publicitario, desde la perspectiva de la geografía urbana y la semiótica, para identificar cómo el sector privado utiliza el excepcionalismo verde para justificar las "novedades" en las dinámicas de consumo en las miniciudades. Se va más allá de una clásica conclusión binaria y, de esta forma, se cuestiona y resalta la complejidad del NU en Costa Rica. Se concluye que, el sector privado participa de la mutación de espacios, prácticas e intercambios en diversas formas urbanas, brindando lo que el sector público no ha podido satisfacer: el sentimiento de seguridad, de limpieza, de moda, de tranquilidad y de comodidad asociadas a las formas urbanas tradicionales. |
| Keywords: | mini-cities,New Urbanism,Advertising discourses – pragmatics - persuasion - strategy– dialogism,green excepcionalism,Semiotic analysis,Miniciudades,Nuevo Urbanismo,discurso publicitario,excepcionalismo verde,análisis semióticos |
| Date: | 2021–03–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03330467&r= |
| By: | WATANABE Mariko; KAWASHIMA Fujio; KAMO Tomoki; KAWASE Tsuyoshi |
| Abstract: | This paper conducts an analysis on the policy documents issued by China regarding the entry to Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP, hereafter). The Chinese governments expressed their interest toward entry in 2020. Analysis of the documents revealed their political purpose and expected actions towards achieving their goals. In 2020, President Xi Jinping and Premier Li Keqiang respectively referred to their intention to start talks on the entry to CPTPP. This paper examines the following points: (1) their basic attitude toward the arena of international rule making, (2) China's general attitude towards the WTO, (3) their policy they called Legal Work on Foreign Issues, (4) individual rules in chapters on SOE, Labor and E-Commerce of the TPP framework and applicability of China, (5) impacts of the U.S. and UK actions towards CPTPP on China's stance. We found that China is taking actions toward achieving their policy of Legal Work on Foreign Issues which consist of (1) enhancing their "institutional discourse power" through international rule making, and (2) legislation against extraterritorial application by foreign entities from 2021 to 2025. It is highly likely that they regard the entry to CPTPP as an important step in building their institutional discourse power, whose concrete goal is the building of an FTAAP (Free Trade Agreement of Asia-Pacific), beginning with entry into CPTPP in addition to RCEP. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rpdpjp:21016&r= |
| By: | Patrick Mervent (CREOGN - Centre de recherche de l'École des officiers de la gendarmerie nationale) |
| Abstract: | La situation de crise et de confinement liée à l'épidémie de Covid-19 engendre une intensification du recours au télétravail et aux modalités de réunion virtuelle. Certaines entreprises étaient déjà plus ou moins préparées au télétravail, mais pas pour y faire face de manière aussi massive et sur un temps aussi long. La pression gouvernementale se fait toujours plus forte pour que le télétravail devienne la règle, chaque fois que c'est possible. Dans ces conditions, les salariés se sentent parfois isolés au travail et même coupés des autres. Dans certains cas, notamment dans les petites structures, faute d'avoir pu déployer les moyens nécessaires, le télétravail s'opère depuis les équipements personnels des collaborateurs, dont le niveau de sécurité ne peut pas être évalué et encore moins garanti. Or, à l'image d'une chaîne, la sécurité d'un système informatique s'évalue au niveau de sécurité du maillon le plus faible. Ainsi, une porte blindée est inutile dans un bâtiment si les fenêtres sont ouvertes sur la rue et plus le bâtiment est grand et complexe, plus les opportunités d'effraction sont nombreuses. Ainsi, une grande entreprise travaillant avec des petites et moyennes entreprises (PME) qui autorisent le télétravail avec du matériel personnel, s'expose elle-même à bien des dangers. |
| Keywords: | Covid-19,télétravail,informatique,sécurité |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03327817&r= |
| By: | Karin GALLANDAT (London School of Hygiene and Tropical Medicine),; Pierre-Yves DURAND (Agence française de développement),; Thierry VANDEVELDE (Fondation Veolia),; Jaime SAIDI (ministère de la Santé, République démocratique du Congo) |
| Abstract: | Around 2.4 billion cases of diarrhoeal disease were recorded globally in 2015, causing approximately 500,000 deaths among children under five. Over 60% of these deaths were attributed to poor access to water and sani-tation. Cholera is an acute diarrhoeal disease which, if left untreated, can lead to death within hours. Each year, 1.3 to 4 million cases and 95,000 deaths - half of them affecting children under the age of five - are estimated to be due to cholera. In sub-Saharan Africa, more than half of all chol-era cases occur in “hotspots” accounting for less than 4% of the total population. The Global Task Force on Cholera Control (GTFCC) strategy targets these hotspots. |
| Keywords: | République démocratique du Congo |
| JEL: | Q |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:avg:wpaper:en12768&r= |
| By: | Nybok, Martin (IFAU - Institute for Evaluation of Labour Market and Education Policy); Stuhler, Jan (Universidad Carlos III de Madrid) |
| Abstract: | We use complete-count register data to describe various features of intergenerational mobility in Sweden. First, we document the extent of regional variation in educational and income mobility across Swedish municipalities, and describe its spatial pattern. Second, we study the stability of such regional rankings to the choice of mobility statistic. Third, we show that income inequality and mobility are negatively related, across all mobility measures. Fourth, we exploit variation in local exposure to show that the 1990s economic crisis and the 2007-2008 fi nancial crisis had a negative eff ect on income mobility. |
| Keywords: | The geography of intergenerational mobility; multigenerational mobility; income inequality; recession |
| JEL: | J62 R00 |
| Date: | 2021–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ifauwp:2021_011&r= |
| By: | Ian R White (MRC Clinical Trials Unit at UCL, London, UK); Tim P Morris (MRC Clinical Trials Unit at UCL, London, UK); Deborah Ford (MRC Clinical Trials Unit at UCL, London, UK) |
| Abstract: | Covariate adjustment in a randomised trial aims to provide more powerful comparisons of randomised groups. We describe the challenges of planning how to do this in the ODYSSEY trial, which compares two HIV treatment regimes in children. ODYSSEY presents three challenges: (1) the outcome is time-to-event (time to virological or clinical failure); (2) interest is in the risk at a landmark time (96 weeks after randomisation); and (3) the aim is to demonstrate non-inferiority (defined as the risk difference at 96 weeks being less than 10 percentage points). The statistical analysis plan is based on the Cox model with predefined adjustment for three covariates. We describe how to use the margins command in Stata to estimate the marginal risks and the risk difference. This analysis does not allow for uncertainty in the baseline survivor function. We compare confidence intervals produced by normal theory and by bootstrapping, and (for the risks) using the log-log transform. We compare these methods with Paul Lambert's standsurv, which is based on a parametric survival model. We also discuss an inverse probability of treatment weighting approach, where the weights are derived by regressing randomised treatment on the covariates. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:6&r= |
| By: | Micki Hill (University of Leicester, Leicester, UK); Paul C Lambert (University of Leicester, Leicester, UK and Karolinska Institutet, Stockholm, Sweden); Michael J Crowther (Karolinska Institutet, Stockholm, Sweden) |
| Abstract: | Inverse probability weighting (IPW) can be used to estimate marginal treatment effects from survival data. Currently, IPW analyses can be performed in a few steps in Stata (with robust or bootstrap standard errors) or by using stteffects ipw under some assumptions for a small number of marginal treatment effects. stipw has been developed to perform an IPW analysis on survival data and to provide a closed-form variance estimator of the model parameters using M-estimation. This method appropriately accounts for the estimation of the weights and provides a less computationally intensive alternative to bootstrapping. stipw implements the following steps: (1) A binary treatment/exposure variable is modelled against confounders using logistic regression. (2) Stabilised or unstabilised weights are estimated. (3) A weighted streg or stpm2 (Royston-Parmar) survival model is fitted with treatment/exposure as the only covariate. (4) Variance is estimated using M-estimation. As the stored variance matrix is updated, post-estimation can easily be performed with the appropriately estimated variance. Useful marginal measures, such as difference in marginal restricted survival time, can thus be calculated with uncertainties. stipw will be demonstrated on a commonly used dataset in primary biliary cirrhosis. Robust, bootstrap and M-estimation standard errors will be presented and compared. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:15&r= |
| By: | Susan, Shaheen |
| Keywords: | Social and Behavioral Sciences |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt2zp0z4cn&r= |
| By: | Mohammadjavad Javadinasr (Yalda); Tassio B. Magassy (Yalda); Ehsan Rahimi (Yalda); Motahare (Yalda); Mohammadi (Kouros); Amir Davatgari (Kouros); Abolfazl (Kouros); Mohammadian; Deborah Salon; Matthew Wigginton Bhagat-Conway; Rishabh Singh Chauhan; Ram M. Pendyala; Sybil Derrible; Sara Khoeini |
| Abstract: | The explosive nature of Covid-19 transmission drastically altered the rhythm of daily life by forcing billions of people to stay at their homes. A critical challenge facing transportation planners is to identify the type and the extent of changes in people's activity-travel behavior in the post-pandemic world. In this study, we investigated the travel behavior evolution by analyzing a longitudinal two-wave panel survey data conducted in the United States from April 2020 to October 2020 (wave 1) and from November 2020 to May 2021(wave 2). Encompassing nearly 3,000 respondents across different states, we explored pandemic-induced changes and underlying reasons in four major categories of telecommute/telemedicine, commute mode choice, online shopping, and air travel. Upon concrete evidence, our findings substantiate significantly observed and expected changes in habits and preferences. According to results, nearly half of employees anticipate having the alternative to telecommute and among which 71% expect to work from home at least twice a week after the pandemic. In the post-pandemic period, auto and transit commuters are expected to be 9% and 31% less than pre-pandemic, respectively. A considerable rise in hybrid work and grocery/non-grocery online shopping is expected. Moreover, 41% of pre-covid business travelers expect to have fewer flights (after the pandemic) while only 8% anticipate more, compared to the pre-pandemic. Upon our analyses, we discuss a spectrum of policy implications in all mentioned areas. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07988&r= |
| By: | Yamashita, Takuro; Murooka, Takeshi |
| Abstract: | We study an adverse selection environment, where a rational seller can trade a good of which she privately knows its value to a buyer, and there are gains from trade. The buyer’s types differ in their degree of inferential abilities: A rational type correctly infers the value of the good from the seller’s offer, whereas a naive type under-appreciates the correlation between the seller’s private information and offer. We characterize the optimal menu mechanism that maximizes the social surplus. Notably, no matter how severe the adverse selection is (in particular, even when no trade is the unique possible outcome if all agents are rational), all types of buyers trade in the optimal mecha- nism. The rational buyer’s trade occurs at the expense of the naive buyer’s losses. We also investigate a consumer-protection policy of limiting the losses and discuss its implications. |
| Keywords: | Adverse selection; Inferential naivety; Mechanism design; Behavioral contract theory; Consumer protection |
| JEL: | D82 D86 D90 D91 |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:125925&r= |
| By: | Burdin, Gabriel (Leeds University Business School); Kato, Takao (Colgate University) |
| Abstract: | We describe the nature, scope and effects of various non-mandated participatory work practices in Japan, the U.S. and Europe through the lens of complementarity in organizations. Specifically, rather than treating each work practice in isolation, we consider it an element of HIWS (High Involvement Work System), an employment system comprised of clusters of complementary work practices. In so doing, we present a coherent and complete picture of non-mandatory participatory work practices. Furthermore, by applying the common framework of viewing participatory work practices as complementary elements of HIWS to seemingly disparate forms of work practices in different parts of the world, we shed light on how participatory work practices play out in diverse institutional, cultural and regulatory environments. |
| Keywords: | High Involvement Work System, High Performance Work System, employee participation |
| JEL: | M5 J5 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14694&r= |
| By: | Thoma, Johanna |
| Abstract: | Behavioural economics has taught us that human agents don’t always display consistent, context-independent and stable preferences in their choice behaviour. Can we nevertheless do welfare economics in a way that lives up to the anti-paternalist ideal most economists subscribe to? I here discuss Sugden’s powerful critique of most previous attempts at doing so, which he dubs the ‘New Consensus’, as appealing to problematic notions of latent preference and inner rational agency. I elaborate on a fundamental rethinking of the normative foundations of anti-paternalist welfare measurement that often remains implicit in the behavioural welfare economics literature Sugden discusses, but which is required to make these accounts minimally plausible. I argue that, if we go along with this rethinking, Bernheim and Rangel’s (2007, 2009) choice-theoretic framework withstands Sugden’s criticism. Sugden’s own, more radical proposal is thus under-motivated by his critique of the ‘New Consensus’. |
| Keywords: | behavioural economics; welfare economics; anti-paternalism; preference purification; choice |
| JEL: | N0 |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111789&r= |
| By: | Chakrabarti, Anindya S.; Mishra, Abinash; Mohaghegh, Mohsen |
| Abstract: | Income distribution-based targeted interventions are quite common in developing economies. However, often due to institutional frictions, identification of the recipients happens at a lower frequency than the frequency of movement across income groups, leading to mis-identification of true and false recipients. What are the general equilibrium effects of such interventions? To measure the effects, we develop a heterogeneous agent production economy where agents face uninsurable income risks and we calibrate it to a novel panel dataset on monthly household income and consumption in India. We study the effects of persistent (identity-based) shocks as opposed to the usual temporary (income-based) income shocks, the difference being that in persistent payments individuals are guaranteed a payment across periods, regardless of their income status in future. We find that temporary interventions have muted distributional effects, while identity-based stimulus of the same size give rise to more prominent effects. In particular, a persistent income shock to the poorest decile equivalent to 0.6% of GDP leads to a 0.543% increase in consumption. |
| Date: | 2021–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:iim:iimawp:14661&r= |
| By: | Deepankar Basu (Department of Economics, University of Massachusetts Amherst) |
| Abstract: | In linear econometric models with proportional selection on unobservables, omitted variable bias in estimated treatment effects are roots of a cubic equation involving estimated parameters from a short and intermediate regression, the former excluding and the latter including all observable controls. The roots of the cubic are functions of delta, the degree of proportional selection on unobservables, and R_max, the R-squared in a hypothetical long regression that includes the unobservable confounder and all observable controls. In this paper a simple method is proposed to compute roots of the cubic over meaningful regions of the delta-R_max plane and use the roots to construct bounding sets for the true treatment effect. The proposed method is illustrated with both a simulated and an observational data set. |
| Keywords: | treatment effect, omitted variable bias |
| JEL: | C21 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-10&r= |
| By: | Asjad Naqvi (International Institute for Applied Systems Analysis (IIASA), Austria) |
| Abstract: | The presentation will cover innovative use of Stata to create data visualizations that can compete with standard industrial languages like R and Python. Several existing and new concepts like heat plots, stacked area graphs, fully customized maps, streamplots, joy plots, polar plots, spider graphs, and several new visualization templates currently under development will be showcased. The presentation will also discuss the importance of customized color schemes to fine tune the graphs. Propositions for improvements in Stata will be highlighted. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:23&r= |
| By: | Arsenis, Panagiotis; Flores, Miguel; Petropoulou, Dimitra |
| Abstract: | Universities are under increasing pressure to equip graduates with a broader set of competencies, such as communication, teamwork and leadership skills, that go beyond subject-specific knowledge. This, alongside growing student numbers in higher education, creates pedagogic challenges, especially with regards to assessment design. Conventional assessment modalities, such as individual essay writing, are costly to scale up and poorly suited for the development of further desired competencies. To address these challenges in the context of a first-year economics module, we replaced a 1,000-word individual written assignment with a group video assignment, where students were required to work in small teams to create a three-minute video on a contemporary economic issue. Focus groups and module evaluation questionnaires were used to elicit students’ perceptions of how the group video assessment contributed to their learning experience and skill development, how it compares with other modes of assessment, as well as suggestions for improved implementation. Our analysis generates insights on all these aspects. Students reported a preference for diversity in assessment methods, and found the video assignment to be a positive, engaging but also challenging experience, which provided the opportunity for collaboration and development of diverse skills. |
| Keywords: | assessment; employability skills; higher education; technology; Taylor & Francis deal |
| JEL: | R14 J01 |
| Date: | 2021–04–04 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:108926&r= |
| By: | Tii N. Nchofoung (University of Dschang, Cameroon); Elvis Dze Achuo (University of Dschang, Cameroon); Simplice A. Asongu (Yaoundé, Cameroon) |
| Abstract: | This study aims to empirically verify the effects of natural resource rents on inclusive human development in developing countries. The results from the IV Tobit regression show that natural resource rents have a positive direct effect on inclusive human development in developing countries and that this relationship varies by regional groupings, income levels, level of development and export structure. Looking at the transmission mechanisms, when the interactive variables of governance and environmental quality is introduced, the modulating channel through governance exerts a robust negative synergy effect in the sample of developing countries and positive synergy effects for Africa and low-income countries. When the interactive variable of CO2 emissions is introduced for Africa, a negative net effect of natural resource rents on inclusive human development is obtained. This was up to a policy threshold of 25.4412 of CO2 emissions when the negative effect is nullified. For Asia and the Latin America and Caribbean, a positive net effect is obtained. This is up to a CO2 emissions threshold of 29.038 and 3.6752 respectively, when the positive effect is nullified. Besides, the high income and the upper-middle income countries produce a negative net effect of resource rents on inclusive human development through CO2 modulation, with up to positive CO2 emission thresholds of 37.9365 and 23.6257 respectively. Policy implications are highlighted. In summary, contingent on engaged specificities, where conditional effects are negative, negative thresholds for complementary policies have been provided and in scenarios where conditional impacts are positive, actionable positive thresholds have been provided. |
| Keywords: | Resource Rents, Inclusive Human Development, Institutional Quality, Environmental Quality. |
| JEL: | P48 O11 C23 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:abh:wpaper:21/025&r= |
| By: | Otero Gomez, Daniel; Mateus C, Rafael; Laniado, Henry |
| Abstract: | This document is aimed at the study of the probability of acquiring the HIV virus in a certain population. A meticulous analysis is included regarding the understanding had, in order to design an accurate probabilistic model for each scenario. Based on a data recollection regarding HIV transmission, various specific situations were proposed to study deeper how vulnerable is an individual to acquiring HIV according to the number of interactions and the type of encounter had with an HIV carrier. |
| Date: | 2019–12–10 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:tgmj5&r= |
| By: | Deepankar Basu (Department of Economics, University of Massachusetts Amherst); Ramaa Vasudevan (Department of Economics, Colorado State University.) |
| Abstract: | We revisit the hypotheses of unequal exchange and deteriorating terms of trade in the specific context of import-intensive, export- led strategies of developing countries which rely on integration into GVCs for access to markets in developed countries using a stylized two-country two-commodity Classical- Marxian trade model. Two sources of asymmetry can be distinguished: market power arising from the competition between suppliers that depresses the prices at which the final good is supplied; and monopoly power arising from the lead firms control and ownership of intangible assets including brand and design. The model explores some implications of these two sources of asymmetry. |
| Keywords: | Unequal Exchange, Global Value Chains, Classical Trade Model |
| JEL: | F02 F23 O19 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-13&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This study aims to analyze information architecture, content, governance, website design, analyze the image of the West Aceh Regency Government, and to analyze how big the relationship between public relations activities through the website (website information architecture, website content, website governance, website design) to the formation of the image of the West Aceh District Government. The research population is website visitors acehbaratkab.go.id. The total population is 261,943 people and by using the Taro Yamane formula, a sample of 100 people is obtained. The sampling technique used was purposive sampling and accidental sampling. This research data collection using a questionnaire. The data collected was processed using correlation analysis to see the relationship between Public Relations Activities Through the Website and the Image of the Government of West Aceh Regency. The results of the study found that public relations activities through the Aceh Barat website which consisted of website information architecture showed good results, website content showed poor results, website management showed poor results, website design showed good results. Findings related to the image of the Government of West Aceh from personality, reputation, value, corporate identity show good average results |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:5sgn9&r= |
| By: | Pierre Levasseur (SADAPT - Sciences pour l'Action et le Développement : Activités, Produits, Territoires - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Cet article étudie les dynamiques de la relation entre la corpulence et les salaires au Mexique, un pays émergent fortement touché par l'obésité. Dans cette étude empirique, nous utilisons les données de panel issues de l'enquête ménage Mexican Family Life Survey (2002-2012). Premièrement, nous examinons de façon descriptive la relation corpulence-salaire et son évolution dans le temps. Nous appliquons ensuite un modèle par doubles différences fournissant des estimations robustes à l'hétérogénéité invariante dans le temps. Nos résultats montrent que la relation entre la corpulence et les salaires horaires dépend du genre, de l'année d'enquête et du statut professionnel. Tandis que les résultats révèlent des pénalités salariales au cours du temps pour les travailleurs des services en surpoids, nous observons une acceptation relative de l'excès de poids dans d'autres secteurs d'emploi, en particulier dans les emplois à haute qualification. Nos résultats ont ainsi des implications importantes en termes de politiques publiques. |
| Keywords: | Mexico,Overweight,Obesity,Wages |
| Date: | 2021–08–18 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03335825&r= |
| By: | Richard Arena (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (... - 2019) - COMUE UCA - COMUE Université Côte d'Azur (2015 - 2019) - CNRS - Centre National de la Recherche Scientifique - UCA - Université Côte d'Azur); Muriel Dal-Pont Legrand (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (... - 2019) - COMUE UCA - COMUE Université Côte d'Azur (2015 - 2019) - CNRS - Centre National de la Recherche Scientifique - UCA - Université Côte d'Azur); Roger Guesnerie (CdF (institution) - Collège de France) |
| Date: | 2021–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03325544&r= |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | This price bulletin was developed by researchers at IFPRI Malawi with the goal of providing clear and accurate information on the variation of weekly retail prices of selected agricultural commodities that are important for food security and nutrition in Malawi. The reports are intended as a resource for those interested in agricultural markets in Malawi. |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, food prices, legumes, roots, tubers, cereals, prices, agricultural products, markets, food security, nutrition |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspb:10b&r= |
| By: | Cuong Le Van (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); Ngoc-Sang Pham (EM Normandie - École de Management de Normandie, Métis Lab EM Normandie - EM Normandie - École de Management de Normandie) |
| Abstract: | We present some mathematical tools widely used in courses taught in (under)graduate programs in economics. We hope that readers can learn how to apply mathematical results in economics and how to prove them. We focus on two topics: finite-dimensional convex optimization and discrete-time dynamical systems. We also present several applications in economics. |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03328380&r= |
| By: | Felix Holzmeister (Department of Economics, University of Innsbruck); Christoph Huber (Institute of Markets and Strategy, Vienna University of Economics and Business); Stefan Palan (Institute of Banking and Finance, University of Graz) |
| Abstract: | Risk is one of the key aspects in financial decision-making and therefore an integral part of the behavioral economics and finance literature. Focusing on the conceptualization of the term ``risk'', which researchers have addressed from numerous angles, this comment aims to offer a critical perspective on the interactions between risk preferences (a latent trait), risk perceptions (how individuals judge whether something is risky), and risk-taking behavior as distinct concepts, and hence to guide future research on (individual-level) decision-making processes in this direction. |
| Date: | 2021–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:grz:wpsses:2021-06&r= |
| By: | Josué Diwambuena; Raquel Fonseca; Stefan Schubert |
| Abstract: | This paper investigates how Italian labour market institutions influence business cycle fluctuations. We apply a DSGE model that features Italian labour market rigidities and we estimate the latter on Italian data using Bayesian techniques to assess the effects of demand, supply, and labour market shocks on the macroeconomy, and to measure their significance for economic fluctuations. Our results show: First, technology, time preference and wage bargaining shocks are key drivers of economic fluctuations across horizons. Second, matching efficiency and wage bargaining shocks are significant sources of unemployment and vacancies fluctuations but their role is limited for output fluctuations. Third, labour market relaxation policies have only marginally contributed to the reduction in unemployment. Last, accounting for wage rigidities influences labour market dynamics and helps the model to fit data well. We, therefore, urge policymakers to support additional changes in labour market institutions. Cet article étudie comment les institutions du marché du travail italien influencent les fluctuations du cycle économique. Nous appliquons un modèle DSGE qui présente les rigidités du marché du travail italien et nous estimons ce dernier sur des données italiennes en utilisant des techniques bayésiennes afin d'évaluer les effets des chocs de demande, d'offre et du marché du travail sur la macroéconomie, et de mesurer leur importance pour les fluctuations économiques. Nos résultats montrent : Premièrement, les chocs liés à la technologie, à la préférence temporelle et à la négociation salariale sont les principaux moteurs des fluctuations économiques à travers les horizons. Deuxièmement, les chocs d'efficacité d'appariement et de négociation salariale sont des sources significatives de fluctuations du chômage et des postes vacants, mais leur rôle est limité pour les fluctuations de la production. Troisièmement, les politiques d'assouplissement du marché du travail n'ont que marginalement contribué à la réduction du chômage. Enfin, la prise en compte des rigidités salariales influence la dynamique du marché du travail et permet au modèle de bien s'ajuster aux données. Nous exhortons donc les décideurs politiques à soutenir des changements supplémentaires dans les institutions du marché du travail. |
| Keywords: | DSGE,Labour market frictions,Bayesian estimation,Italy, DSGE,frictions sur le marché du travail,estimation bayésienne,Italie |
| JEL: | E24 E32 C51 C52 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:cir:cirwor:2021s-33&r= |
| By: | Bekaert, Els; Constant, Amelie F.; Foubert, Killian; Ruyssen, Ilse |
| Abstract: | Aspirations provide the underlying dynamics of the behavior of individuals whether they are realized or not. Knowledge about the characteristics and motives of those who aspire to leave the host country is key for both host and home countries to formulate appropriate and effective policies in order to keep their valued immigrants or citizens and foster their (re-)integration. Based on unique individual-level Gallup World Polls data, a random utility model, and a multinomial logit we model the aspirations or stated preferences of immigrants across 138 countries worldwide. Our analysis reveals selection in characteristics, a strong role for soft factors like social ties and sociocultural integration, and a faint role for economic factors. Changes in circumstances in the home and host countries are also important determinants of aspirations. Results differ by the host countries' level of economic development. |
| Keywords: | Economics of Immigrants,Geographic Labor Mobility,Public Policy,Micro-economic Behavior,Underlying Principles,International Migration,Large Data Sets,Modeling and Analysis |
| JEL: | J15 J61 J68 D01 F22 C55 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:930&r= |
| By: | Francesca Caselli (International Monetary Fund); Matilde Faralli (Imperial College London); Paolo Manasse (University of Bologna); Ugo Panizza (IHEID, Graduate Institute of International and Development Studies, Geneva) |
| Abstract: | This paper studies whether countries benefit from servicing their debts during times of widespread sovereign defaults. Colombia is typically regarded as the only large Latin American country that did not default in the 1980s. Using archival research and formal econometric estimates of Colombia's probability of default, we show that in the early 1980s Colombia's fundamentals were not significantly different from those of the Latin American countries that defaulted on their debts. We also document that the different path chosen by Colombia was due to the authorities' belief that maintaining a good reputation in the international capital market would have substantial long-term payoffs. We show that the case of Colombia is more complex than what is commonly assumed. Although Colombia had to re-profile its debts, high-level political support from the US allowed Colombia to do so outside the standard framework of an IMF program. Our counterfactual analysis shows that in the short to medium run, Colombia benefited from avoiding an explicit default. Specifically, we find that GDP growth in the 1980s was higher than that of a counterfactual in which Colombia behaved like its neighboring countries. We also test whether Colombia's behavior in the 1980s led to long-term reputational benefits. Using an event study based on a large sudden stop, we find no evidence for such long-lasting reputational gains. |
| Keywords: | Sovereign Debt; Default; Reputation |
| JEL: | F34 F32 H63 |
| Date: | 2021–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:gii:giihei:heidwp18-2021&r= |
| By: | Roddy, Áine |
| Abstract: | Child chronic illness/ disability can present significant challenges for children, families and society that require appropriate policy responses; yet little is known about the demands placed on families resources from an economics perspective in terms of its impact on household income and the extra income required to achieve the same standard of living as families who do not have a child with a chronic illness/disability. The paper uses data from the Growing Up in Ireland National survey dataset for nine year olds. It is the first study to empirically investigate the impact of child chronic illness/disability on earnings, standard of living and the extra cost of disability together. It is also the first study to explicitly address endogeneity in the standard of living model by using a two-stage process where residuals were harvested to provide efficient estimates. The findings show that families experience significant disadvantage and economic hardship due to reduced household income and a lower standard of living due to the extra cost of disability that would require considerable income to compensate. Policy implications of these findings suggest that a tiered approach to disability support payments which encompass broader criteria for inclusion based on varying severity levels be introduced to alleviate the financial hardship and compromised economic wellbeing of families affected. In addition, more innovative policies are required to implement appropriate timely access to health and social care services and flexi parental employment, which in turn requires the provision of adequate access to high quality educational and care facilities. |
| Keywords: | child disability; family income; household standard of living; extra cost of disability; economic hardship; Springer deal |
| JEL: | C31 I31 J14 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111833&r= |
| By: | Vincenzo Verardi (Université Libre de Bruxelles); Ben Jann (University of Bern) |
| Abstract: | Pairwise comparison-based estimators are commonly used in statistics. In the context of panel data fixed-effects estimations, Aquaro and Cizek (2013) have shown that a pairwise-differences based estimator is equivalent to the well-known within estimator. Relying on this result, they propose to "robustify" the F.E. estimator by applying a robust regression estimator to pairwise-difference transformed data. In collaboration with Ben Jann, we made available the xtrobreg command that implements this estimator in Stata for both balanced and unbalanced panels. As will be shown in the presentation, the flexibility of the xtrobreg command allows it to be used well beyond the context of panel robust regressions. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:17&r= |
| By: | Josué Diwambuena; Raquel Fonseca; Stefan Schubert |
| Abstract: | This paper investigates how Italian labour market institutions influence business cycle fluctuations. We apply a DSGE model that features Italian labour market rigidities and we estimate the latter on Italian data using Bayesian techniques to assess the effects of demand, supply, and labour market shocks on the macroeconomy, and to measure their significance for economic fluctuations. Our results show: First, technology, time preference and wage bargaining shocks are key drivers of economic fluctuations across horizons. Second, matching efficiency and wage bargaining shocks are significant sources of unemployment and vacancies fluctuations but their role is limited for output fluctuations. Third, labour market relaxation policies have only marginally contributed to the reduction in unemployment. Last, accounting for wage rigidities influences labour market dynamics and helps the model to fit data well. We, therefore, urge policymakers to support additional changes in labour market institutions. |
| Keywords: | DSGE, Labour market frictions, Bayesian estimation, Italy. |
| JEL: | E24 E32 C51 C52 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:rsi:creeic:2105&r= |
| By: | Mikhaylova, Oxana; Sivak, Elizaveta |
| Abstract: | The COVID-19 pandemic has transformed daily life across the world and affected multiple social institutions. It may also have modified parents’ gendered division of labour. Current research on family functioning during the pandemic has provided mixed evidence on the influence of at-home work and at-home schooling on mothers’ and fathers’ involvement in childcare, child’s education and housework. In this paper, we use data from 1359 Russian mothers to study whether fathers' participation in these activities was influenced by the increased need for parental help in schooling and more opportunities for help due to remote work during the lockdown. We find that fathers’ involvement was higher if they worked remotely during the lockdown and if the child needed much additional help with schooling after school closures. These results hold true even after controlling for fathers’ pre-pandemic involvement. In line with conditional fatherhood theory, mothers’ engagement with remote schooling was almost unrelated to their employment status and work arrangement. Overall, our evidence supports the ‘needs exposure’ hypothesis that additional family needs in combination with switching to remote work can increase fathers’ involvement. However, evaluating the duration of these changes and their long-term influence on families’ functioning would require further research. |
| Date: | 2021–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:cz6ky&r= |
| By: | Matthew D. Cocci; Mikkel Plagborg-M{\o}ller |
| Abstract: | Calibration, the practice of choosing the parameters of a structural model to match certain empirical moments, can be viewed as minimum distance estimation. Existing standard error formulas for such estimators require a consistent estimate of the correlation structure of the empirical moments, which is often unavailable in practice. Instead, the variances of the individual empirical moments are usually readily estimable. Using only these variances, we derive conservative standard errors and confidence intervals for the structural parameters that are valid even under the worst-case correlation structure. In the over-identified case, we show that the moment weighting scheme that minimizes the worst-case estimator variance amounts to a moment selection problem with a simple solution. Finally, we develop tests of over-identifying or parameter restrictions. We apply our methods empirically to a model of menu cost pricing for multi-product firms and to a heterogeneous agent New Keynesian model. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.08109&r= |
| By: | Mateus C, Rafael; Zuluaga, Susana Alvarez; Orozco, Mariajose Franco; Marín, Paula Alejandra Escudero |
| Abstract: | Agent-Based Models (ABM) have become a very useful tool to simulate the propagation of infectious diseases. To enhance the scope of these simulation models, some authors have combined ABMs with ODE models which are called Hybrid ABMs, and allows the simulation of models that demand a very high computational cost. In the present project, the main approach is to develop hybrid ABMs to understand the transmission dynamics of vector-borne diseases such as Dengue, Zika, and Chikungunya considering some geospatial characteristics of the city of Bello, Colombia. Some assumptions were considered to develop the computational model to understand and verify if the transmission dynamics were happening according to their theoretical behavior. The results obtained were satisfactory, and for future work, the idea is to integrate more components and make the model more realistic. |
| Date: | 2021–06–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:wmxzd&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This study aims to see the community participation in the satellite area in the construction and maintenance of Drainage in the Village Marindal II District Patumbak Deli Serdang. The research method used to answer the problem in this research is the method of qualitative research approach. Data obtained through in-depth interviews, literature study and documentation. Informant research comes from the elements of sub-district government and community. The results of the research show that the participation, involvement and utilization of drainage facilities are running well. |
| Date: | 2020–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:by5kc&r= |
| By: | Heidland, Tobias; Krüger, Finja |
| Abstract: | In den Wahlprogrammen der Parteien für die Bundestagswahl 2021 finden sich sehr unterschiedliche Migrationsbilder. Einige Programme sind stärker auf Verhinderung, andere eher auf die sich bietenden Chancen fokussiert. Die Autoren stellen fest, dass alle Parteien das Thema Flucht und Asyl in ihren Programmen überbetonen, obwohl dies nur etwa ein Drittel der Migration der letzten Jahre ausmacht. Trotz unterschiedlicher Positionen gibt es in einigen Kernthemen wie Integration und einer europäischen Lösung mit Flucht/Asyl Einigkeit zwischen einzelnen Parteien, die sich in anderen Politikbereichen deutlich unterscheiden. In vielen Bereichen sind die Wahlprogramme unspezifisch und bieten kaum konkrete Vorschläge, was Koalitionsverhandlungen erleichtern wird. Angesichts der rapiden Alterung der Gesellschaft und des sich weiter verschärfenden Fachkräftemangels sehen die Autoren eine chancenorientierte Einwanderungspolitik als dringend notwendig an. |
| Keywords: | Bundestagswahl,Wahlprogramme,Migration,Flucht,Asyl,Fachkräfte,German parliamentary election,election manifestos,migration,refugee flows,asylum,skilled labor |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkpb:157&r= |
| By: | Victor Aguirregabiria; Allan Collard-Wexler; Stephen P. Ryan |
| Abstract: | This survey is organized around three main topics: models, econometrics, and empirical applications. Section 2 presents the theoretical framework, introduces the concept of Markov Perfect Nash Equilibrium, discusses existence and multiplicity, and describes the representation of this equilibrium in terms of conditional choice probabilities. We also discuss extensions of the basic framework, including models in continuous time, the concepts of oblivious equilibrium and experience-based equilibrium, and dynamic games where firms have non-equilibrium beliefs. In section 3, we first provide an overview of the types of data used in this literature, before turning to a discussion of identification issues and results, and estimation methods. We review different methods to deal with multiple equilibria and large state spaces. We also describe recent developments for estimating games in continuous time and incorporating serially correlated unobservables, and discuss the use of machine learning methods to solving and estimating dynamic games. Section 4 discusses empirical applications of dynamic games in IO. We start describing the first empirical applications in this literature during the early 2000s. Then, we review recent applications dealing with innovation, antitrust and mergers, dynamic pricing, regulation, product repositioning, advertising, uncertainty and investment, airline network competition, dynamic matching, and natural resources. We conclude with our view of the progress made in this literature and the remaining challenges. |
| Keywords: | Dynamic games; Industrial organization; Market competition; Structural models; Estimation; Identification; Counterfactuals |
| JEL: | C57 C63 C73 L11 L13 |
| Date: | 2021–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:tor:tecipa:tecipa-706&r= |
| By: | Otero Gomez, Daniel; MANRIQUE, MIGUEL ANGEL CORREA; Sierra, Omar Becerra; Toro, Mauricio; Millan, David Andres Romero; Mateus C, Rafael |
| Abstract: | When it comes to choosing a career path, senior high-school students struggle to make a decision. The purpose of this research is to help such students select a career track by providing a match-based scored recommendation of academic and professional routes, promoting the development of the government-aided quality educational system by reducing the student dropout. Recommendations are based on the results of the Colombian standardized Saber 11 examination (which is similar to SAT [Scholastic Assessment Test] scores in the U.S.), and how other students with similar characteristics (demographic, socio-economic, family information) performed in their undergraduate tests and the Colombian standardized Saber Pro exam (which is similar to GRE -Graduate Record Examination- scores in the U.S.). Collected information was bundled with their career choice and the recommendation system was developed using Machine Learning and Deep Learning techniques, ROC (Receiver operating characteristic) curve was computed for each career and found on average the AUC (Area under the ROC Curve) score was 0.86 despite the high variability between them. In addition, a business metric was built and evaluated. |
| Date: | 2020–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:5xwf6&r= |
| By: | Paul, J.; Agatz, N.A.H.; Fransoo, J.C. |
| Abstract: | Despite the continued growth of e-grocery sales, few companies actually make any profits in this retail segment. Increasing market shares and associated drop densities may render profitable operations possible, but higher delivery fees seem essential to achieving profitability. Yet such higher fees may put e-groceries at a disadvantage as compared with the traditional store channel, which remains highly competitive. This study models customer choice between the e-grocery channel and the store channel as well as the effects of that choice on those channels’ operational costs and market shares. We identify conditions under which e-grocery retail can be profitable, and we estimate our model’s parameters using secondary industry data. Our results indicate that e-grocery is profitable when household density is high and store density is low. When customer valuation of the e-grocery channel increases substantially, the result may be cannibalization of the store channel’s sales to the extent that stores encounter losses. Thus there are three paths to e-grocery profitability:(i) a substantial increase in the relative consumer valuation of the online channel; (ii) a focus on areas with high household density and low store density; (iii) a long-term subsidy of the online channel until stores begin to close. |
| Keywords: | E-Grocery, Customer-channel model, Channel cannabalization |
| Date: | 2021–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:ems:eureri:135677&r= |
| By: | Roos, Ernst (Tilburg University, School of Economics and Management) |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:dd9e7b35-a770-4f8d-a85c-86c6aef23167&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | At a time when banking is facing difficulties to make the debtor which is not problematic, UMK became an alternative credit channeling of banking. There is little industry in the city of Medan have a very strategic role, both in the Equalization of opportunities, equitable spread of the Interest of the industry that supports the development, employment equity, and aims to form indentations the Community industry is small, independent, tough, and developed into a major industry. This research aims to analyze the role of the Service industry and are experts in developing small industries in the city of Medan. This research uses descriptive qualitative approach method. Results of the study showed a number of productive activities performed by the Department of industry and experts and the weakness of the perpetrators of the small and medium industries to expand the network of ekternal. |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:qxrwz&r= |
| By: | Icks, Andrea |
| Abstract: | Aims: Health-related changes in leisure time are supposed to be implicitly considered by participants of health state valuations. The amount of empirical research on whether respondents in fact include the effects of morbidity on leisure into health state valuations is limited and the results are inconclusive. In this exploratory study, we analyze whether time aspects of diabetes self-care might explain the ratings of the health state (HSR) in addition to the effects of physical and mental health-related quality of life. Methods: Using the data from participants with diagnosed type 2 diabetes in the population-based KORA FF4 study (n=190, 60% Male, mean age 69±10 years), multiple logistic regression models were fitted to explain HSR (good vs. poor) in terms of the SF12 physical and mental component scores, time spent on diabetes self-care and a range of background variables. We assume that if time spent on diabetes self-care competes with other leisure activities and implicitly plays a role in HSR, this additional effect should be seen in regression models. Results: There was no significant association between time spent on diabetes self-care and HSR in models without interaction. Significant interaction term was found between physical score of SF12 and time spent on self-care. In models with interaction self-care time has a small, but significant impact on the HSR. In particular, for a fixed physical score of SF12 value under 40, more time increases the chance to rate the health state as "good", while for physical score value above 40 there is a reverse effect. Conclusions: The additional impact of self-care time on HSR in our sample is small and more complex than a simple linear association. More research is needed on whether inclusion of health-related leisure time changes in the denominator of cost-effectiveness analysis is sufficient. |
| Keywords: | patient time use,diabetes mellitus,health economic evaluation,population-based study |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:udewwd:234&r= |
| By: | Fernanda Ricotta (University of Calabria); Victoria Golikova (National Research University Higher School of Economics); Boris Kuznetsov (National Research University Higher School of Economics) |
| Abstract: | In this paper, we investigate whether CEO characteristics (owner-manager status, age and gender) influence firm innovative performance and test empirically if the effect differs for market and transition economies. We use cross-sectional data of manufacturing firms in six EU countries and in Russia. To address heterogeneity, we explore innovation performance by size among SMEs and large businesses and by Pavitt sector. In both institutional settings, the presence of a family CEO either has no effect or improves innovative performance. On the contrary, the role of CEO gender is different in Russia and in the EU. In the EU, female CEOs are associated with less innovation, especially in SMEs and in the traditional sector. In Russia, CEO gender is not associated with differences in innovative performance and when it is (for the traditional sector), it favors female-run firms. For CEO age, considering product innovations, the oldest group of CEOs are less active in European firms while mature CEOs are more innovative in Russia. |
| Keywords: | CEO age, gender, manager-owner status, innovation, manufacturing firms |
| JEL: | D21 L60 P50 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:251/ec/2021&r= |
| By: | Meenagh, David (Cardiff Business School); Minford, Patrick (Cardiff Business School); Wickens, Michael (Cardiff Business School) |
| Abstract: | We ask whether Bayesian estimation creates a potential estimation bias as compared with standard estimation techniques based on the data, such as maximum likelihood or indirect estimation. We investigate this with a Monte Carlo experiment in which the true version of a New Keynesian model may either have high wage/price rigidity or be close to pure flexibility; we treat each in turn as the true model and create Bayesian estimates of it under priors from the true model and its false alternative. The Bayesian estimation of macro models may thus give very misleading results by placing too much weight on prior information compared to observed data; a better method may be Indirect estimation where the bias is found to be low. |
| Keywords: | Bayesian; Maximum Likelihood; Indirect Inference; Estimation Bias |
| JEL: | C11 E12 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cdf:wpaper:2021/22&r= |
| By: | Dominique Benoit; Esther E.N. van der Zee; Michael Darmon; An A.K.L. Reyners; Victoria Metaxa; Djamel Mokart; Alexander Wilmer; Pieter Depuydt; Andreas Hvarfner; Katerina Rusinova; Jan G.Zijlstra; François Vincent; Dimitrios Lathyris; Anne-Pascale Meert; Jacques Devriendt; Emma Uyttersprot; Erwin Jo E.J.O. Kompanje; Ruth R.D. Piers; Elie Azoulay |
| Abstract: | Background: Whether Intensive Care Unit (ICU) clinicians display unconscious bias towards cancer patients is unknown. The aim of this study was to compare the outcomes of critically ill patients with and without perceptions of excessive care (PECs) by ICU clinicians in patients with and without cancer. Methods: This study is a sub-analysis of the large multicentre DISPROPRICUS study. Clinicians of 56 ICUs in Europe and the United States completed a daily questionnaire about the appropriateness of care during a 28-day period. We compared the cumulative incidence of patients with concordant PECs, treatment limitation decisions (TLDs) and death between patients with uncontrolled and controlled cancer, and patients without cancer. Results: Of the 1641 patients, 117 (7.1%) had uncontrolled cancer and 270 (16.4%) had controlled cancer. The cumulative incidence of concordant PECs in patients with uncontrolled and controlled cancer versus patients without cancer was 20.5%, 8.1%, and 9.1% (p |
| Keywords: | Bias; Cancer; Critical care; ICU; Perception of care; Prognostication; Treatment limitation |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/331296&r= |
| By: | Dr Mohammad Rafiqul Islam; Dr Nicholas Sim |
| Abstract: | How does food consumption improve educational outcomes is an important policy issue for developing countries. Applying the Indonesian Family Life Survey (IFLS) 2014, we estimate the returns of food consumption to education and investigate if more educated individuals tend to consume healthier bundles than less-educated individuals do. We implement the Expected Outcome Methodology, which is similar to Average Treatment on The Treated (ATT) conceptualized by Angrist and Pischke (2009). We find that education tends to tilt consumption towards healthier foods. Specifically, individuals with upper secondary or higher levels of education, on average, consume 31.5% more healthy foods than those with lower secondary education or lower levels of education. With respect to unhealthy food consumption, more highly-educated individuals, on average, consume 22.8% less unhealthy food than less-educated individuals. This suggests that education can increase the inequality in the consumption of healthy food bundles. Our study suggests that it is important to design policies to expand education for all for at least up to higher secondary level in the context of Indonesia. Our finding also speaks to the link between food-health gradient and human capital formation for a developing country such as Indonesia. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.08124&r= |
| By: | Rosalinda, Annisa; fernos, jhon |
| Abstract: | The research objective was to find out how to analyze the causes of problems at BMT At Taqwa Cabang Bandar Buat Padang. The data analysis method is descriptive using quantitative and qualitative analysis methods. Where the qualitative method is a method used to obtain related information through interviews with BMT At Taqwa Cabang Bandar Buat Padang and using quantitative methods, namely the method used to perform calculations by processing data in table form. The result of the research on the development rate of the number of Non-Performing Financing in 2018 was 16,55% and decreased in 2019 by 9,84% and in 2020 it increased by 17,02%. Problem financing at BMT At Taqwa cabang Bandar Buat Padang is caused by internal and external factors, internal factors, namely factors that come from within, such as not beig accurate in analyzing financing and monitoring / supervision that has not been maximed by BMT. Meanwhile, external factors are factors caused by outside parties, such as a decrease in customer operating income and the customer deliberately delays financing. |
| Date: | 2021–09–05 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:bfny9&r= |
| By: | Hidayat, Muhammad (STIE Nobel Indonesia); Latief, Fitriani; hidayah, Nur; Asbara, Nurkhalik Wahdanial |
| Abstract: | This community service activity was carried out in Kabba Village which was intended to provide assistance related to the revitalization of the BUMDes in Kabba Village. This service was carried out in two stages, namely field observations and implementation of assistance through the Focus Group Discussion (FGD) method which focused on three problems, namely Identification of Business Prospects, Selection of appropriate businesses and assistance in preparing BUMDes Financial Reports. From the FGD, it can be concluded that there are three prospective businesses to be managed and appropriate business analysis steps have also been submitted In this service activity, In this community service, training on the preparation of financial reports is also carried out which is intended to make sure that financial statements can be prepared in accordance with accounting standards in Indonesia. |
| Date: | 2021–08–15 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:pavw5&r= |
| By: | Itani, Ibrahim MS; Cassidy, Michael J. PhD; Daganzo, Carlos F. PhD |
| Abstract: | An agent-based, multichannel simulation of a downtown area reveals the impacts of both redistributing traffic demand with time-dependent congestion pricing, and supplying extra capacity by banning left turns. The downtown street network was idealized, and loosely resembles central Los Angeles. On the demand-side, prices were set based on time-ofday and distance traveled. On the supply side, left-turn maneuvers were prohibited at all intersections on the network. Although both traffic management measures reduced travel costs when used alone, the left-turn ban was much less effective than pricing. When combined with pricing under congested conditions, however, the left-turn ban’s effectiveness increased considerably—it more than doubled in some cases. Furthermore, the two measures combined reduced travel costs in synergistic fashion. In some cases, this synergistic effect was responsible for 30% of the cost reduction. This strong synergy suggests that turning bans should be considered as an added option when contemplating congestion pricing. |
| Keywords: | Engineering, Traffic congestion, congestion pricing, demand, left turns, travel costs, traffic management, traffic simulation |
| Date: | 2021–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt71j7z3wv&r= |
| By: | Financial Markets Department (Bank of Japan) |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:boj:bojron:mor210909&r= |
| By: | Kettlewell, Nathan (University of Technology, Sydney); Tymula, Agnieszka (University of Sydney) |
| Abstract: | This paper describes the Australian Twins Economic Preferences Survey (ATEPS). The dataset comprises a wide variety of preference and behavioral measures (risk aversion, impatience, ambiguity aversion, trust, confidence) elicited using incentivised decision tasks. 1,120 Australian adult twins (560 pairs) completed the survey, making it one of the largest datasets containing incentivised preference measures of twins. As the survey was conducted during the COVID-19 pandemic, we also collected information on experiences related to the pandemic, along with a variety of questions on political attitudes and mental wellbeing. We hope that ATEPS can make a valuable contribution to social science and genetics research. |
| Keywords: | economic preferences, twins, twin study |
| JEL: | D90 D91 I10 Y90 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14702&r= |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | The Monthly Maize Market Report was developed by researchers at IFPRI Malawi with the goal of providing clear and accurate information on the variation of maize prices in selected markets throughout Malawi. The reports are intended as a resource for those interested in maize markets in Malawi, namely producers, traders, consumers, or other agricultural stakeholders. |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, maize, market prices, retail prices, food prices, regional prices, agricultural stakeholders |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspr:july2021&r= |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | This price bulletin was developed by researchers at IFPRI Malawi with the goal of providing clear and accurate information on the variation of weekly retail prices of selected agricultural commodities that are important for food security and nutrition in Malawi. The reports are intended as a resource for those interested in agricultural markets in Malawi. |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, food prices, legumes, roots, tubers, cereals, prices, agricultural products, markets, food security, nutrition |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspb:10a&r= |
| By: | Shreya Biswas |
| Abstract: | The study examines the relationship between mobile financial services and individual financial behavior in India wherein a sizeable population is yet to be financially included. Addressing the endogeneity associated with the use of mobile financial services using an instrumental variable method, the study finds that the use of mobile financial services increases the likelihood of investment, having insurance and borrowing from formal financial institutions. Further, the analysis highlights that access to mobile financial services have the potential to bridge the gender divide in financial inclusion. Fastening the pace of access to mobile financial services may partially alter pandemic induced poverty. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07077&r= |
| By: | Robert Ialenti |
| Abstract: | We assess how rising exports of US liquefied natural gas (LNG) affect the convergence of natural gas prices worldwide. Using standard principal component analysis and cointegrating techniques, we show that the degree of co-movement between global benchmark prices for natural gas has strengthened since the United States began the large-scale export of LNG in 2016. At the same time, we find that global natural gas prices do not yet adhere to the relative law of one price. Our results also suggest that issues related to storage access in Alberta between 2017 and 2019 have limited price co-movements between major benchmarks for natural gas in the United States and Canada. In addition, we use vector error correction models to show that natural gas prices in Europe and Asia respond negatively to increased exports of US LNG. These results may have implications for the development of future LNG export capacity in Canada. |
| Keywords: | International topics; Market structure and pricing |
| JEL: | C32 F15 K41 L95 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocadp:21-14&r= |
| By: | Laczó, Ferenc |
| Abstract: | In this study the concept of commodities is formulated according to the utility theory; following the principle of price elasticity of demand, differences of uncompensated and compensated price changes will be clearly interpreted; as the uncompensated and compensated price changes have different averaging properties, so two different CPI formulas need to be defined; arbitrary price changes are broken down into uncompensated and compensated price change to obtain a complete, dual CPI formula. |
| Keywords: | Economic Value of a Commodity; Uncompensated vs. Compensated Price Change; Common Units in Measurements; Dual CPI Formula; Supply-Driven and Demand-Driven Economy |
| JEL: | E31 |
| Date: | 2021–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109724&r= |
| By: | Akihiko Noda |
| Abstract: | This study examines the dynamic asset market linkages under the COVID-19 global pandemic based on market efficiency, in the sense of Fama (1970). Particularly, we estimate the joint degree of market efficiency by applying Ito et al.'s (2014; 2017) Generalized Least Squares-based time-varying vector autoregression model. The empirical results show that (1) the joint degree of market efficiency changes widely over time, as shown in Lo's (2004) adaptive market hypothesis, (2) the COVID-19 pandemic may eliminate arbitrage and improve market efficiency through enhanced linkages between the asset markets; and (3) the market efficiency has continued to decline due to the Bitcoin bubble that emerged at the end of 2020. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02933&r= |
| By: | Forscher, Teddy; Deakin, Elizabeth PhD; Walker, Joan PhD |
| Abstract: | The COVID-19 pandemic brought about dramatic shifts in travel, including shopping trips. We investigated changes in eshopping for food and non-food items by supplementing an April to May 2018 household travel survey (n=3,956 households) conducted by the Sacramento Area Council of Governments (SACOG) with a May 2020 follow-on panel survey (n=313 households) during one week early in the pandemic. Results demonstrate that impacts from added pickups and deliveries in the SACOG region during the first two months of the COVID-19 pandemic were limited and did not overwhelm curb management at retail, restaurant, and grocery establishments. Results also show that during the pandemic e-commerce tended to replace non-food shopping trips, but complemented restaurant and grocery trips. However, Forty percent of the sample households — predominantly lower income and/or older populations — still shopped only in-store for food while more affluent households appear to have isolated themselves from virus exposure through more extensive online shopping. We recommend extending the forms of accepted payment for online shopping and reducing fees and markups based upon payment method to reduce barrier to online shopping for those with limited resources. We identify possible consequences (e.g., more vehicle miles traveled and higher demand for curbside parking) if e-commerce food purchasing continues to grow post-pandemic or if in-person retail shopping returns to normal. |
| Keywords: | Engineering |
| Date: | 2021–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt6mx0w7hj&r= |
| By: | NURHAYATI, NUNUNG |
| Abstract: | Kualitas Sistem Informasi Akuntansi merupakan hal yang sangat penting bagi suatu organisasi. Melalui Sistem Informasi Akuntansi yang berkualitas, user akan memperoleh informasi yang berkualitas pada saat yang tepat untuk pengambilan keputusan. Fenomena yang terjadi pada organisasi di Indonesia menunjukkan bahwa sistem informasi akuntansi belum berkualitas sehingga berdampak pada belum berkualitasnya informasi akuntansi. |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:osf:thesis:wzgqh&r= |
| By: | Rodrigo Dorantes-Gilardi (El Colegio de México); Aurora A. Ramírez-Álvarez (El Colegio de México); Diana Terrazas-Santamaría (El Colegio de México) |
| Abstract: | Several inequalities between genders have been reported over the last decades in academia. Female researchers tend to have a lower pay, write fewer articles and receive fewer cites than their male counterparts, among other disparities. Co-authorship with highly cited scholars tend to give an advantage to early career researchers. Indeed, the impact of researchers that collaborate with super-cited (SC) authors at their early career stage tends to be greater than for those scientists who do not. The question of whether this advantage is favors male or female scientists has not been addressed yet. By conditioning on career length (at least ten years), we study the effect on male and female economists from collaborating with a SC author within the first five years of their career. Since collaboration is not likely random, we employ a matching model using pre-collaboration network characteristics to compare similar authors. We find a positive effect on the impact and the probability of being SC afterward; however, this effect is not statistically different between men and women. On the productivity side, we do not find an effect for any gender. To further explore these results, we study whether repeated collaboration with SC co-authors may be a possible mechanism in the years that follow. |
| Keywords: | super-cited authors, gender inequality, collaboration network, economics. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:emx:ceedoc:2021-05&r= |
| By: | Vladimir Gligorov (The Vienna Institute for International Economic Studies, wiiw); Richard Grieveson (The Vienna Institute for International Economic Studies, wiiw); Peter Havlik; Gabor Hunya (The Vienna Institute for International Economic Studies, wiiw); Olga Pindyuk (The Vienna Institute for International Economic Studies, wiiw); Leon Podkaminer (The Vienna Institute for International Economic Studies, wiiw); Sandor Richter (The Vienna Institute for International Economic Studies, wiiw); Hermine Vidovic (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | To mark the 30th anniversary of the fall of the Berlin Wall, this paper aims to assess developments in Central, East and Southeast Europe (CESEE) over the past three decades, and to look forward to what the next 30 years might bring. First, we measure the convergence of per capita income, wages and life expectancy in CESEE with Western Europe since 1989, and examine demographic trends. We find that, after a difficult start, many countries have become significantly wealthier and their populations much healthier. However, for others, the outcomes of the first 30 years are less positive, and a large number of countries in CESEE have already experienced significant population decline. Second, our experts look back at the situation in 1989, and to what extent their expectations have played out, reflecting on both successes and disappointments. Third, we analyse current trends in the region, and attempt to project what will come next. Here, we focus on automation, digitalisation, institutions, demographics and geopolitics. We find evidence of institutional regression, demographic challenges, and a changing geopolitical backdrop that will have important implications for much of the region. However, we also see reasons for optimism, including the opportunities provided by digitalisation and automation, and an active civil society that could in time force positive change. |
| Keywords: | CESEE, Europe, Central and Eastern Europe, transition, convergence, demographics |
| JEL: | E00 E02 F02 J11 P20 P30 O52 |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:wii:eopape:4&r= |
| By: | Bertrand SAVOYE; Maxime TERRIEUX; Cécile VALADIER; Sylvain BELLEFONTAINE,; Cécile DUQUESNAY,; Marion HEMAR,; Benoît JONVEAUX,; Laura MARIE,; Emmanuelle MONAT,; Jules PORTE,; Meghann PULOC’H |
| Abstract: | Semestrial Panoramas are special issues of the MacroDev series written by AFD analysts; They present a synthesis of macronomic et socioeconomic analyses of emerging and developing countries. In addition to short, country-focused articles, a thematic section sheds light on broader economic and structural issues affecting these countries. |
| Keywords: | Afrique, Côte d'Ivoire, Tchad, Zambie, Équateur, Birmanie, Géorgie, Ouzbékistan, Sri Lanka, Trois Océans, Madagascar |
| JEL: | E |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:avg:wpaper:en13039&r= |
| By: | Pauline Pedehour (Université de Nantes); Lionel Richefort (Université de Nantes) |
| Abstract: | This study develops a model of water extraction with endogenous social norms. Many users are connected by a unique shared resource that can become scarce in case of over-exploitation. Preferences of individuals are guided by their extraction values and their taste for conformity to social norms which provide incentives to follow others. As the main result of this study, the uniqueness of the Nash equilibrium is established under a sufficient condition. Afterward, some comparative statics analysis shows the effects of change in individual heterogeneous parameters, conformism, and density of the network on the global quantity extracted. Welfare and social optimum properties are established to avoid the tragedy of the commons and sub-optimal consumptions of water. Lastly, this theoretical framework is completed by extensions to highlight levers of water preservation, including the calibration of social norm incentives. |
| Keywords: | Comparative statics, Conformism, Nash equilibrium, Network, Social norms, Water extraction |
| JEL: | D04 D80 Q01 Q25 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2021.20&r= |
| By: | Bryson, Alex (University College London); Clark, Andrew E. (Paris School of Economics); Green, Colin P. (Norwegian University of Science and Technology (NTNU)) |
| Abstract: | A small literature has shown that individual wellbeing varies with the price of company stock, but it is unclear whether this is due to wealth effects among those holding stock, or more general effects on sentiment, with individuals taking rising stock prices as an indicator of improvements in the economy. We contribute to this literature by using two data sets to establish the relationship between share prices on the one hand and worker wellbeing on the other. First, we use data on share price movements and employee stock holding in a single corporation and provide suggestive evidence that an increase in the firm's stock price increases the wellbeing of those who belong to its employee share purchase plan (ESPP), and that these effects are greatest among those making the largest monthly contributions to the program who have the most to gain (or lose) from stock price fluctuations. There is also some tentative evidence that the wellbeing effects of a rise in the share price are greatest among those with the largest shareholdings. We then use almost 30 years of British panel data to show that employee job satisfaction moves with share prices among those whose pay is partly determined by company fortunes. Taken together these results suggest that the well-being effects of share prices work at least partly via changes in wealth. |
| Keywords: | job satisfaction, wellbeing, share prices, share ownership, profit-sharing |
| JEL: | J28 J33 J54 J63 J81 M52 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14706&r= |
| By: | Ximeng Fang; Timo Freyer; Chui Yee Ho; Zihua Chen; Lorenz Goette |
| Abstract: | The COVID-19 pandemic induces a typical social dilemma situation, as engaging in preventive behaviors such as social distancing is costly for individuals, but generates benefits that accrue to society at large. The extent to which individuals internalize the social impact of their actions may depend on their (pro-)social preferences. We leverage a nationally representative survey in Germany (n = 5,843), conducted during the second coronavirus wave, to investigate the role of prosociality in reducing the spread of COVID-19. At the individual level, higher prosociality is strongly positively related to compliance with recommended public health behaviors. At the regional (NUTS-2) level, higher average prosociality is associated with significantly lower incidence and growth rates of COVID-19 infections. This association is robust to controlling for a host of regional socio-economic factors, and mediated by stronger average compliance with public health measures. Our correlational results thus confirm the notion that voluntary behavioral change due to prosocial motivations can play an important role in the pandemic. |
| Keywords: | COVID-19, collective action, prosociality, economic preferences, online survey |
| JEL: | D64 I12 I18 H41 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2021_319&r= |
| By: | Roberto Blanco (Banco de España); Sergio Mayordomo (Banco de España); Álvaro Menéndez (Banco de España); Maristela Mulino (Banco de España) |
| Abstract: | En este documento se analiza el impacto de la crisis del COVID-19 sobre la vulnerabilidad financiera del sector corporativo español. Las simulaciones realizadas muestran que la crisis habría elevado significativamente las necesidades de liquidez de las empresas en 2020, s bien las medidas adoptadas por las autoridades nacionales e internacionales facilitaron el acceso al crédito en condiciones favorables, lo que mitigó sustancialmente los riesgos de liquidez a corto plazo. Sin embargo, la fuerte caída de los niveles de rentabilidad, unida al crecimiento del endeudamiento, se habría traducido en un aumento notorio de la proporción de compañías vulnerables (es decir, aquellas con patrimonio neto negativo o con niveles de endeudamiento elevados), que habría sido más acusado dentro de las pymes y en los sectores más afectados por la pandemia. Las proyecciones para el período 2021-2023 anticipan una progresiva disminución de estos porcentajes, en línea con la reactivación prevista de la actividad. Los resultados también apuntan a que, como consecuencia de la crisis, se produciría un incremento de entre 2 puntos porcentuales (pp) y 3 pp de la proporción de empresas con riesgo de ser inviables por tener pérdidas continuadas hasta 2023, y de entre 3 pp y 4,7 pp en la de aquellas que seguirían siendo viables pero que tendrían dificultades para hacer frente a sus deudas con sus ingresos futuros esperados (empresas sobreendeudadas). Asimismo, las simulaciones realizadas muestran que la deuda no sostenible de las empresas que habrían pasado a encontrarse en esta última situación se situaría entre los 9 mm y los 18,6 mm de euros, según el escenario considerado, concentrándose la mayor parte de este importe en el segmento de las pymes. |
| Keywords: | COVID-19, necesidades de liquidez, rentabilidad, endeudamiento, crédito, solvencia, viabilidad |
| JEL: | E51 E52 G21 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:opaper:2119&r= |
| By: | Victor Aguirregabiria; Allan Collard-Wexler; Stephen P. Ryan |
| Abstract: | This survey is organized around three main topics: models, econometrics, and empirical applications. Section 2 presents the theoretical framework, introduces the concept of Markov Perfect Nash Equilibrium, discusses existence and multiplicity, and describes the representation of this equilibrium in terms of conditional choice probabilities. We also discuss extensions of the basic framework, including models in continuous time, the concepts of oblivious equilibrium and experience-based equilibrium, and dynamic games where firms have non-equilibrium beliefs. In section 3, we first provide an overview of the types of data used in this literature, before turning to a discussion of identification issues and results, and estimation methods. We review different methods to deal with multiple equilibria and large state spaces. We also describe recent developments for estimating games in continuous time and incorporating serially correlated unobservables, and discuss the use of machine learning methods to solving and estimating dynamic games. Section 4 discusses empirical applications of dynamic games in IO. We start describing the first empirical applications in this literature during the early 2000s. Then, we review recent applications dealing with innovation, antitrust and mergers, dynamic pricing, regulation, product repositioning, advertising, uncertainty and investment, airline network competition, dynamic matching, and natural resources. We conclude with our view of the progress made in this literature and the remaining challenges. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.01725&r= |
| By: | Céline Merlin-Brogniart (CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique); Christine Liefooghe (TVES - Territoires, Villes, Environnement & Société - ULR 4477 - ULCO - Université du Littoral Côte d'Opale - Université de Lille); Miklós Rosta (Corvinus University of Budapest); Márton Katona (Corvinus University of Budapest) |
| Abstract: | In the context of social innovation, collaborative governance and in particular innovation networks has gained importance. This paper focuses on the potential for scaling up according to the institutional arrangements and context of different countries. A grid for analyzing the degree of state control of citizens' and local initiatives is proposed in order to study the different forms and intensity of scaling up. |
| Date: | 2021–01–21 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03333566&r= |
| By: | Dorosh, Paul A.; Thurlow, James; Pradesha, Angga; Raihan, Selim |
| Abstract: | Bangladesh has successfully improved national food security over the last two decades, primarily by increasing rice production and consumption. However, the country’s food system remains vulnerable to periodic floods and droughts that seriously affect agricultural production and prices. While food imports can cushion the effects of these short-term climate shocks, there is always uncertainty about whether shortages in global commodity markets will coincide with domestic production shortfalls, leading to particularly adverse outcomes, especially for poor farmers and net consumers. This is one of the reasons why Bangladesh’s government has maintained a long-standing public grain procurement and storage system, as well as a large social protection program that distributes subsidized rice and wheat to poor households. These programs, together with investments in farm productivity, have enhanced the resilience of Bangladesh’s food system to climate and world market shocks. Heightened climate variability in recent years has also led the government to increase stocks and make substantial new investments to expand public grain storage capacity. |
| Keywords: | BANGLADESH, SOUTH ASIA, ASIA, food policies, policies, costs, agriculture, investment, infrastructure, targeting |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprpp:9&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This research discusses about the decentralization of public service delivery by local government through the delegation of authority from the regent to the head of sub district, which is based on Permendagri No. 4 Tahun 2010 tentang Pedoman Pelayanan Administrasi Terpadu Kecamatan (The Guidelines for Integrated Administrative Services by Sub District). The purpose of this research was to describe the implementation stages of PATEN and determine the factors that influence the implementation of Permendagri No. 4 of 2010 on guidelines for integrated administrative services by sub district in Padangsidimpuan. By using the qualitative methods, this research resulted several important findings such as the coordination between relevant agencies have not maximized, the quality and quantity of sub district officials have not adequately, and also the availability of facilities and infrastructure owned in Implementation Policies Permendagri No. 4 of 2010. Based on the content and context of policy, the most influential factors in the implementation of PATEN in Padangsidimpuan consist of the parties whose interests are affected, the position of the policy makers, the availability of resources, and also the compliance and responsiveness. Based on the result of research analysis, sub district plays an important role as a service center that closest to the community, especially in the large areas and hard to reach. Therefore, beside the broad authority according to its portion, sub district also needs to be supported by the funding, facilities and infrastructure, and the adequate of both quality and quantity of sub district officials. |
| Date: | 2021–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:xmnp5&r= |
| By: | Tansel, Aysit; Öztürk, Ceyhan; Erdil, Erkan |
| Abstract: | We examine the relationship between wealth and health through prominent growth indicators and cognitive ability. Cognitive ability is represented by nutritional status. In this study, the proxy variable for nutritional status is BMI since there is a strong relationship between cognitive ability and nutrition. We use the reduced form equation in the cubic specification of time preference rate to estimate this relationship. We assume that the time preference rate is one of the outputs of cognitive ability. The growth indicators utilized are GDP per capita, schooling, overall and manufacturing productivities, and savings. We estimate our models using the FE, GMM estimators, and long difference OLS and IV estimation through balanced panel data for 47 countries for the 1980-2009 period, which is a representative period of the neo-liberal and globalization economic policy implications. Furthermore, by using the 1980-2009 period, we may eliminate the ripple effects of the 2007-2009 financial crisis. Although there is ample evidence that the association between GDP per capita, overall and manufacturing productivities, and BMI could be cubic, we take the results of the long-difference quadratic specification into consideration and conclude that the relationship between all prominent growth indicators and BMI is inverse U-shaped. In other words, cognitive ability has a significant potential to progress growth and economic development only in a healthy status. |
| Keywords: | Cognitive ability,time preference rate,BMI,productivity,health,schooling,growth,economic development |
| JEL: | E21 I15 I25 J24 O11 Q18 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:929&r= |
| By: | Marette, Stéphan (Paris-Saclay); Disdier, Anne-Célia (PSE); Bodnar, Anastasia (USDA OCE); Beghin, John C (UNL) |
| Abstract: | New Plant Engineering Techniques (NPETs) may significantly improve both production and quality of foods. Consumers and regulators around the world might be reluctant to accept such products, which may cripple adoption and global market penetration of these products. We develop a parsimonious economic model for R&D investment in food innovations to identify conditions under which NPET technology emerges in a context of international trade. The framework integrates consumers’ willingness to pay (WTP) for the new food, the uncertainty of R&D processes, the associated regulatory cost of approval, and the competition between domestic and foreign products. With generic applicability, the model enables the quantitative analysis of new foods that could be introduced in markets and then traded across borders. We apply the framework to a hypothetical case of apples improved with NPETs. Simulation results suggest that import bans and high values of sunk costs can reduce R&D investment in NPETs to suboptimal levels. |
| Keywords: | Agricultural and Food Policy, Consumer/Household Economics, Industrial Organization, International Relations/Trade |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:ags:nbaesp:313493&r= |
| By: | Denter, Philipp; Ginzburg, Boris |
| Abstract: | Political agents often attempt to influence elections through "troll farms" that flood social media platforms with messages from fake accounts that emulate genuine information. We study the ability of troll farms to manipulate elections. We show that such disinformation tactics is more effective when voters are otherwise well-informed. Thus, for example, societies with high-quality media are more vulnerable to electoral manipulation. |
| Keywords: | Fake News, Disinformation, Troll Farms, Elections, Social Media, Information Aggregation, Fact-Checking |
| JEL: | D72 D83 |
| Date: | 2021–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109634&r= |
| By: | Sébastien Gadat (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); Jonas Kahn (IMT - Institut de Mathématiques de Toulouse UMR5219 - INSA Toulouse - Institut National des Sciences Appliquées - Toulouse - INSA - Institut National des Sciences Appliquées - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - UT2J - Université Toulouse - Jean Jaurès - UT3 - Université Toulouse III - Paul Sabatier - Université Fédérale Toulouse Midi-Pyrénées - CNRS - Centre National de la Recherche Scientifique); Clément Marteau (ICJ - Institut Camille Jordan [Villeurbanne] - ECL - École Centrale de Lyon - Université de Lyon - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - INSA Lyon - Institut National des Sciences Appliquées de Lyon - Université de Lyon - INSA - Institut National des Sciences Appliquées - CNRS - Centre National de la Recherche Scientifique); Cathy Maugis (IMT - Institut de Mathématiques de Toulouse UMR5219 - INSA Toulouse - Institut National des Sciences Appliquées - Toulouse - INSA - Institut National des Sciences Appliquées - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - UT2J - Université Toulouse - Jean Jaurès - UT3 - Université Toulouse III - Paul Sabatier - Université Fédérale Toulouse Midi-Pyrénées - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | In this paper, we consider a parametric density contamination model. We work with a sample of i.i.d. data with a common density, f* = (1 - lambda*)phi + lambda*phi (. - mu*), where the shape phi is assumed to be known. We establish the optimal rates of convergence for the estimation of the mixture parameters (lambda*, mu*) is an element of (0, 1) x R-d. In particular, we prove that the classical parametric rate 1/ root n cannot be reached when at least one of these parameters is allowed to tend to 0 with n. |
| Keywords: | L-2 contrast,Parameter estimation,Rate of convergence,Two-component contamination mixture model |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03328654&r= |
| By: | Ian Fillmore (Washington University in St. Louis) |
| Abstract: | This paper compares a hypothetical $15 federal minimum wage to the most recent federal minimum wage increase, in 2007, from $5.15 to $7.25. I describe a straightforward method for using publicly available data from the Occupational Employment and Wage Statistics (OEWS) program to assess whether a proposed minimum wage increase is within historical experience. I illustrate the method by comparing the occupations and industries most directly affected by the 2007 increase with those that would be affected by a $15 minimum wage. By any measure, a $15 minimum wage is far outside historical experience, casting doubt on whether published estimates of the effects of the minimum wage apply at all. I find that the frontier of historical experience is a minimum wage between $9 and $11 per hour. I recommend that future minimum wage proposals include a similar analysis to assess whether the proposal is within historical experience. Finally, I argue for future research to take advantage of several recent state-level minimum wage hikes to estimate heterogeneous employment effects by occupation and industry. |
| Keywords: | employment, Occupational Employment and Wage Statistics, OEWS |
| JEL: | J31 J38 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:hka:wpaper:2021-048&r= |
| By: | Ferreira, Francisco H G; Firpo, Sergio P; Messina, Julián |
| Abstract: | The Gini coefficient of labor earnings in Brazil fell by nearly a fifth between 1995 and 2012, from 0.50 to 0.41. The decline in other measures of earnings inequality was even larger, with the 90-10 percentile ratio falling by almost 40 percent. Applying micro-econometric decomposition techniques, this study parses out the proximate determinants of this substantial reduction in earnings inequality. Although a falling education premium did play a role, in line with received wisdom, this study finds that a reduction in the returns to labor market experience was a much more important factor driving lower wage disparities. It accounted for 53 percent of the observed decline in the Gini index during the period. Reductions in horizontal inequalities – the gender, race, regional and urban-rural wage gaps, conditional on human capital and institutional variables – also contributed. Two main factors operated against the decline: a greater disparity in wage premia to different sectors of economic activity, and the “paradox of progress”: the mechanical inequality-increasing effect of a more educated labor force when returns to education are convex. |
| Keywords: | earnings inequality; Brazil; returns to experience; OUP deal |
| JEL: | D31 J31 |
| Date: | 2021–03–25 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:110471&r= |
| By: | Jeremy Greenwood (University of Pennsylvania); Nezih Guner (CEMFI, Centro de Estudios Monetarios y Financieros); Ricardo Marto (University of Pennsylvania) |
| Abstract: | The 20th century beheld a dramatic transformation of the family. Some Kuznets style facts regarding structural change in the family are presented. Over the course of the 20th century in the United States fertility declined, educational attainment waxed, housework fell, leisure increased, jobs shifted from blue to white collar, and marriage waned. These trends are also observed in the cross-country data. A model is developed, and then calibrated, to address the trends in the US data. The calibration procedure is closely connected to the underlying economic logic. Three drivers of the great transition are considered: neutral technological progress, skilled-biased technological change, and drops in the price of labor-saving household durables. |
| Keywords: | Average weekly hours, blue-collar jobs, calibration, college premium, education, family economics, fertility, housework, Kuznets, leisure, market work, marriage, neutral technological progress, price of labor-saving household durables, skilled-biased technological change, white-collar jobs. |
| JEL: | D10 E13 J10 O10 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cmf:wpaper:wp2021_2105&r= |
| By: | Yanti, Putri; Putra, Yosep Eka |
| Abstract: | The purpose this research is to discuss about liquidity risk analysis at “Bank Negara Indonesia” (Persero) Tbk. The writer uses quantitative method. The type of data used is secondary data, which is obtained from published reports of “Bank Negara Indonesia” (Persero) Tbk the period 2016 to 2020. The result of this study indicate that the Cash Ratio can be said to be healthy because it is in accordance with Bank Indonesia regulations with an average ratio of 4,05%. The Quick Ratio is in the healthy criteria because the average value is greater than 100%. Loan to Deposit Ratio is in good condition because its value is below 75%. This means that the bank is able to fulfill its obligations immediately with its liquid assets and is able to provide depositors requests when withdrawing funds so that the bank’s liquidity risk is in a healty condition and well maintained. |
| Date: | 2021–08–23 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:xgq6y&r= |
| By: | Liao, Jingchi; Peng, Cameron; Zhu, Ning |
| Abstract: | We propose an extrapolative model of bubbles to explain the sharp rise in prices and volume observed in historical financial bubbles. The model generates a novel mechanism for volume: because of the interaction between extrapolative beliefs and disposition effects, investors are quick to not only buy assets with positive past returns but also sell them if good returns continue. Using account-level transaction data on the 2014–2015 Chinese stock market bubble, we test and confirm the model’s predictions about trading volume. We quantify the magnitude of the proposed mechanism and show that it can increase trading volume by another 30%. |
| Keywords: | OUP deal |
| JEL: | G11 G12 |
| Date: | 2021–06–18 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:110514&r= |
| By: | Simplice A. Asongu (Yaounde, Cameroon); Mouna Amari (University of Sfax, Tunisia); Anis Jarboui (University of Sfax, Tunisia); Khaireddine Mouakhar (Normandy Business School, France) |
| Abstract: | The study examines the dynamic interrelationships among the school enrolment rates and the rate of employment (via unemployment rates) in Nigeria. The study employed Autoregressive estimates and an unrestricted VAR approach to analyze these relationships. The study lends credence to the new-growth theory (i.e. endogenous models) that more investments in human capital, through education especially at higher levels, will allow human capital to evolve dynamically and increase long-run growth in Nigeria. This tendency engenders multiplier effects in stimulating sustainable development given that education-driven growth facilitates employment. The growth literature has been definitive on the role of human capital in achieving long-run economic growth. Therefore, investments in education have been identified as a vital channel for building human capital and achieving long run development objectives. Thus, in the nascent quest for sustainable development, this study takes the new growth theory a step higher by examining the modulating effects of educational-driven growth (i.e. via school enrolments rates) in setting the pace for employment patterns in Nigeria. |
| Keywords: | Inclusive, Education, Inequality, Technology, Thresholds |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:aak:wpaper:21/004&r= |
| By: | Muhammad, Andrew; Griffith, Andrew P.; Martinez, Charles C.; Thompson, Jada |
| Abstract: | For the last five years (2016-2020), beef and beef products have been a top-five U.S. agricultural export. In 2019, for instance, U.S. beef exports were valued at $8.1 billion, third behind soybeans ($18.7 billion) and tree nuts ($9.1 billion).1 Japan is the most important foreign market for U.S. beef (around $2 billion annually), accounting for around 25 percent of total U.S. exports (See Figure 1) (U.S. Department of Agriculture, 2021a). Thus, the U.S. beef sector is concerned when Japanese policies change in favor of competing countries, resulting in a disadvantage for U.S. beef exports. This was actually an issue when the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) entered into force in December 2018.2 The CPTPP countries that export beef to Japan (e.g., Australia, Canada, New Zealand and Mexico) faced immediate tariff reductions and a tariff phase-down from about 40 percent to nine percent over a 15-year period (Muhammad and Griffith, 2018). Fortunately, the U.S. was able to negotiate similar tariff reductions for U.S. beef in the U.S.-Japan Trade Agreement (USJTA), which entered into force January 2020. However, unlike beef from CPTPP countries, U.S. beef products face more restrictive safeguard measures in Japan (Imaizumi, 2021). Safeguard measures are used to limit excessive import growth by allowing governments to increase tariffs on a product when imports exceed a certain level during a specified period. The World Trade Organization (WTO) and agreements like CPTPP and USJTA allow the Japanese government to increase tariffs on beef when imports exceed a certain volume during a specified period. This specified volume is often referred to as a safeguard trigger. For instance, if Japan’s annual beef imports from CPTPP countries exceeded 601,800 metric tons (MT) (around 1,327 million pounds) from April 2019–March 2020, the Japanese government could have enforced a higher tariff to limit beef imports from CPTPP countries (Imaizumi, 2018).3 Japan’s safeguard trigger for U.S. beef negotiated under USJTA is currently 242,000 MT (around 534 million pounds), which is significantly lower than the CPTPP safeguard trigger. While the relatively higher safeguard trigger could be due to CPTPP including multiple countries and USJTA only including the U.S., Japan essentially imports beef from two countries, the U.S. and Australia. Imports from other CPTPP countries are significantly smaller by comparison. Thus, the more generous CPTPP safeguard trigger is predominantly applied to Australian beef, whereas U.S. beef is facing a significantly more restrictive safeguard trigger. To put this in context, U.S. beef exports to Japan exceeded 242,000 MT the last five years (U.S. Department of Agriculture, 2021a). Given this fact, it was no surprise when the Japanese government announced in March 2021 that imports of U.S. beef from April 2020 to March 2021 reached 242,229 MT, exceeding the safeguard trigger, and that tariffs on U.S. beef would temporarily increase from their current level (25.8 percent) to 38.5 percent for a 30-day period (Imaizumi, 2021). The goal of this report is to examine how Japan’s beef safeguard measures could impact the competitiveness of U.S. beef, vis-à-vis beef from competing countries like Australia. While there is some evidence that Japanese consumers do not consider U.S. beef and Australian beef to be perfect substitutes and have different preferences based on product attributes (e.g., U.S. grain-fed beef versus Australian grass-fed beef), prior research suggests that price competition is still important and that tariffs could affect the competitiveness of U.S. beef in Japan, resulting in less imports of U.S. beef and increased imports of Australian beef (Muhammad et al., 2018). In this report, we provide background on the U.S. beef sector and Japanese beef imports, details on Japan’s beef tariffs and safeguard measures in the CPTPP and USJTA, and lastly, we present findings on how temporary tariff increases due to safeguard measures impacts U.S. beef exports relative to other exporting countries in the Japanese market. |
| Keywords: | Demand and Price Analysis, International Relations/Trade, Livestock Production/Industries |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ags:utaeer:313523&r= |
| By: | Pereira, Francis; Fife, Elizabeth |
| Abstract: | A global and growing shortage of medical doctors and nurses, exacerbated by increasing life expectancy, is generating greater cost pressures on health care around the world. Many industry analysts and health care professionals have argued that early detection and preventive care, as well as education, is a solution to the escalating costs of medical care. In this respect, telemedicine can help alleviate these pressures, as well as extend medical services to under-served or unserved areas. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238046&r= |
| By: | Alberto Cavallo; Oleksiy Kryvtsov |
| Abstract: | We use a detailed micro dataset on product availability to construct a direct high-frequency measure of consumer product shortages during the 2020–2021 pandemic. We document a widespread multi-fold rise in shortages in nearly all sectors early in the pandemic. Over time, the composition of shortages evolved from many temporary stockouts to mostly discontinued products, concentrated in fewer sectors. We show that product shortages have significant but transitory inflationary effects, and that these effects can be associated with elevated cost of replenishing inventories. |
| JEL: | D22 E31 E37 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29209&r= |
| By: | Miguel Riviere (BETA - Bureau d'Économie Théorique et Appliquée - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Sylvain Caurla (BETA - Bureau d'Économie Théorique et Appliquée - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Forest sector models encompass a set of models used for forest-related policy analysis. As representations of a complex human-environment system, they incorporate multiple facts from their target, the forest sector, which is usually understood as comprising forests, forestry and forest industries. Even though they pursue similar goals and display similarities, forest sector models show divergences in their representation of the forest sector. In this paper, we question and discuss the determinants behind the representation of facts in forest sector models, and try to highlight the reasons behind modelling practices. The forest sector's boundaries are often unclear, and it comprises facts of different natures for which dynamics take place on different time and spatial scales. As a result, modelling practices vary, and both empirical data and theory play varying roles in representing facts. Early models were developed in the 1970s and find their roots in traditional forest economics, the economics of natural resources, econometrics, but also transportation problems and system dynamics. Because they developed within a small but well-connected field, early efforts were influential in shaping current practices. Numerical simulation and scenario analysis are used as means of enquiry into model worlds: in that, forest sector models are a classical example of model use in economics, and they constitute a good example of how simulation models have been developed for decision-support purposes. Forest sector modelling is heavily influenced by its applied uses, and policy contexts shape both questions asked and how facts are introduced in scenario storylines. Understanding the determinants of modelling choices is necessary to ensure sound modelling practices. Forest sector models are now used to address issues wider than timber production. Practices turn to integration into multi-model frameworks to expand the boundaries of the system studied, but also towards the use of qualitative methods as new ways of representing facts, in particular deep changes that quantitative models may not be able to capture. |
| Abstract: | Les modèles de secteur forestier sont des outils utilisés dans le cadre d'exercices de prospective portant sur la filière forêt-bois. En tant que représentations de systèmes complexes, ces derniers incorporent de multiples faits issus de leur cible dans le monde réel, et qui peuvent être de différentes natures : dynamiques naturelles, procédés industriels, comportements économiques. Bien que poursuivant des objectifs semblables, ces modèles divergent dans le choix des faits représentés ainsi que dans celui des méthodes utilisées pour les représenter. Dans cet article, nous mettons en lumière les déterminants derrière les représentations du secteur forestier dans les modèles de filière, et remettons ainsi en perspective les pratiques de modélisation, notamment vis-à-vis de leur ancrage historique et méthodologique. Le secteur forestier constitue a priori un ensemble bien défini, mais ses limites exactes sont souvent floues. Elles varient selon la région du monde ou l'échelle spatiale considérée, et comprennent des dynamiques intervenant sur des échelles temporelles souvent disjointes. En résultent des choix de modélisation variés, utilisant à divers degrés théorie et données empiriques. Les premiers modèles furent développés dans les années 1970 et trouvent leur inspiration dans l'économie forestière et celle des ressources naturelles, mais aussi dans la dynamique des systèmes et les problèmes de transport optimal. Héritières d'une recherche au sein d'un champ restreint, les pratiques de modélisation du secteur forestier se sont fortement influencées entre elles, et l'empreinte des premiers modèles se retrouve encore aujourd'hui. La recherche repose sur des simulations numériques permettant d'explorer les futurs possibles par analyse de scénario, et le modélisateur observe le modèle afin d'en tirer des conclusions à propos du système représenté. En cela, les modèles de secteur forestier constituent un exemple archétypal de l'émergence de la simulation en économie comme procédé d'appui à la décision. En retour, le contexte dans lequel un modèle est développé a une forte influence sur les pratiques de modélisation, qu'il guide. Les modèles de secteur forestier sont aujourd'hui utilisés pour traiter de thématiques environnementales, et les pratiques se tournent vers une intégration de plus en plus forte avec d'autres modèles, permettant de repousser les limites du système représenté, mais aussi vers le recours à des méthodes qualitatives comme une nouvelle manière de représenter les faits difficiles à prendre en compte à l'aide de modèles quantitatifs. |
| Keywords: | Forest economics,Mathematical model,Simulation model,Prospective,Economie forestière,Modèle mathématique,Modèle de simulation |
| Date: | 2020–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03088084&r= |
| By: | Marianne Lefebvre (UA - Université d'Angers); Jesus Barreiro-Hurlé (Joint Research center - European Commission); Ciaran Blanchflower (UA - Université d'Angers); Liesbeth Colen (University of Göttingen - Georg-August-Universität Göttingen); Laure Kuhfuss (The James Hutton Institute); Jens Rommel (SLU - Swedish University of Agricultural Sciences); Tanja Šumrada (University of Ljubljana); Fabian Thomas (OS UAS - Osnabrück University of Applied Sciences - Hochschule Osnabrück); Sophie Thoyer (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) |
| Abstract: | In order to keep pace with the evolution of the objectives and means of the EU's Common Agricultural Policy, evaluation tools also need to adapt. A set of tools that have proved highly effective in other policy fields is economic xperiments. These allow the testing of a new policy before its implementation, provide evidence of its specific effects, and identify behavioural dimensions that can influence policy outcomes. We argue that agricultural policy should be subject to economic experiments, providing examples to illustrate how they can inform CAP design. We identify the additional efforts needed to establish further proof-of- concept, by running more –and more robust –experiments related to the CAP. This can happen only by integrating experimental evaluation results within the policy cycle and addressing ethical and practical challenges seriously. To do so, researchers would benefit from a concerted European effort to promote the methodology across the EU; organise the replication in time and across Europ of experiments relevant for the CAP; and build a multi-national panel of farmers willing to participate in experiments. Steps are being taken in this direction by the Research Network of Economics Experiments for CAP evaluation (REECAP). |
| Abstract: | Face à l'évolution des objectifs et des moyens de la politique agricole commune de l'Union européenne, les outils d'évaluation doivent également s'adapter. Les expérimentations économiques sont un ensemble d'outils qui se sont avérés très efficaces dans d'autres domaine d'action des pouvoirs publics. Elles permettent de tester une nouvelle politique avant sa mise en oeuvre, fournissent des informations sur les effets spécifiques de cette politique et identifient les dimensions comportementales qui peuvent influencer ses résultats. Nous soutenons que la politique agricole devrait être l'objet d'expérimentations économiques et fournissons des exemples pour illustrer comment celles-ci peuvent éclairer la formulation de la PAC. Nous identifions les efforts supplémentaires nécessaires pour établir d'autres preuves de concept, en menant des expérimentations liées à la PAC plus nombreuses -et plus robustes. Cela ne peut se faire qu'en intégrant les résultats des évaluations expérimentales dans le cycle de la politique et en s'attaquant sérieusement aux défis éthiques et pratiques. Pour ce faire, les chercheurs bénéficieraient d'un effort européen concerté pour promouvoir la méthodologie à travers l'Union européenne ; organiser la réplication dans le temps et à travers l'Europe d'expérimentations pertinentes pour la PAC ; et constituer un panel multinational d'agriculteurs désireux de participer à ces expérimentations. Des mesures sont prises dans ce sens par le Réseau de recherche sur les expérimentations économiques pour l'évaluation de la PAC (REECAP). |
| Keywords: | Experimental economics,Common Agricultural Policy,Evaluation tools |
| Date: | 2021–08–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03329617&r= |
| By: | Catron, Peter; Loria, Maria Vignau |
| Abstract: | Research on immigrant economic integration generally focuses on the influence of human capital on later occupational success. This research, however, often ignores other individual-level and contextual-level influences on later attainment and when in settlement they are likely to matter. We therefore create a unique panel dataset that follows a Mexican refugee population from arrival and through settlement in the early twentieth century. This novel data source allows us to examine both individual and contextual characteristics on occupational attainment at different points in time. Our analyses show that individual characteristics beyond human capital measures are likely to matter at first arrival, but their effects attenuate over time. This is especially true for perceived skin complexion, persons travelled with, and age which hold large effects on occupational outcomes at first arrival, but smaller effects after longer settlement. Furthermore, we are able to explore the role context of settlement plays on economic attainment. Consistent with previous research, we find that more favorable contexts are associated with better outcomes than less favorable contexts. This research has implications for the understanding of the adaptation and integration of refugee and immigrant populations by shedding light on what and when different variables influence later attainment. |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:qgj3p&r= |
| By: | Morando, Greta (University of Westminster) |
| Abstract: | It has been found that migrants and natives are affected differently by fluctuations in the business cycle. This paper analyses whether this is the case when considering the most recent economic downturn triggered by the Covid-19 pandemic. By using UK data, it finds that unemployment has increased for both natives and migrants as has, consequently, the benefits which are aimed to support non-employed households. The rise in these outcomes is particularly important for EU migrants. EU migrants have also been more likely to experience a decrease in pay during the pandemic. Natives, EU workers, and non-EU workers have all suffered similar decreases in hours worked. Since migrants are likely to adjust to negative shocks by return or re-migration, these findings suggest that the recent increase in emigration from the UK can be partly explained by the negative effects of the pandemic on migrants labour market outcomes. |
| Keywords: | COVID-19, migration, UK labour market |
| JEL: | F22 J01 J20 J61 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14699&r= |
| By: | Hélène Dernis (OECD); Laurent Moussiegt (OECD); Daisuke Nawa (OECD); Mariagrazia Squicciarini (OECD) |
| Abstract: | This study proposes an exploratory analysis of the characteristics of Artificial Intelligence (AI) “actors”. It focuses on entities that deploy AI-related technologies or introduce AI-related goods and services on large international markets. It builds on the OECD Science, Technology and Innovation Micro-data Lab infrastructure, and, in particular, on Intellectual Property (IP) rights data (patents and trademarks) combined with company-level data. Statistics on AI-related patents and trademarks show that AI-related activities are strongly concentrated in some countries, sectors, and actors. Development of AI technologies and/or goods and services is mainly due to start-ups or large incumbents, located in the United States, Japan, Korea, or the People’s Republic of China, and, to a lesser extent, in Europe. A majority of these actors operate in ICT-related sectors. The composition of the IP portfolio of the AI actors indicates that AI is frequently combined with a variety of sector-specific technologies, goods, or services. |
| Date: | 2021–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:oec:stiaac:121-en&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | The replanting, which was carried out for the first time in the Kuamang Valley hamlet in 2018, which was funded by the BPDPKS grant, was carried out on an area of 110 hectares that participated in the registration of 51 oil palm farmers. However, in its implementation there are various obstacles that make the program not run well in Lembah Kuamang Hamlet. This research method uses a qualitative method with the selection of informants by purposive sampling. The results of the study found that the oil palm replanting policy at KUD Citra Merkadi Dusun Lembah Kuamang had not run according to the rules set out in the Minister of Agriculture Regulation No. 6 of 2018 concerning Palm Oil Relanting Guidelines which occurred due to various obstacles that arise in the implementation of replanting coconut plantations. oil palm in the hamlet of Lembah Kuamang, Pelapat Ilir sub-district, Bungo regency. Constraints in replanting are the difficulty of communicating with operators who handle the implementation of rejuvenation of oil palm plantations in the village of Kuamang valley, the absence of socialization to the community of oil palm farmers and the workforce who have experienced complete cessation due to non-current wages from contractors. As for the efforts made by the Village Unit Cooperative (KUD) in solving the problems that are happening in the valley of Kuamang, the village unit cooperative gives a warning to the contractors and operators and finally decides on a contract with the operator and looks for another contractor who is more professional |
| Date: | 2021–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:24yg5&r= |
| By: | Jörn H. Block (emlyon business school); Alexander Groh; Lars Hornuf; Tom Vanacker; Silvio Vismara |
| Abstract: | Entrepreneurial finance markets are in a dynamic state. New market niches and players have developed and continue to emerge. The rules of the game and the methods for receiving financial backing have changed in many ways. This editorial and the special issue of Small Business Economics focus on crowdfunding (CF) and initial coin offerings (ICOs), which are two distinct but important entrepreneurial finance market segments of the future. Although the two market segments initially appear to be similar, we identify differences between them. Our comparison focuses on the stakeholders, microstructures, regulatory environments, and development of the markets. We conclude with suggestions for future ICO and CF research. |
| Keywords: | Initial Coin Offerings,Initial Token Offerings,Crowdfunding,Entrepreneurial Finance |
| Date: | 2021–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03337456&r= |
| By: | Jérôme Pouyet (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université, ESSEC Business School - Essec Business School); Thomas Trégouët (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université) |
| Abstract: | We analyze vertical integration between platforms providing operating systems to manufacturers of devices in presence of indirect network effects between buyers of devices and developers of applications. Vertical integration creates market power over non-integrated manufacturers and application developers. That market power provides the merged entity with the ability to coordinate pricing decisions across both sides of the market, which allows to better internalize network effects. Vertical integration does not systematically lead to foreclosure and can benefit all parties, even in the absence of efficiency gains. Its competitive impact depends on the strength and the structure of indirect network effects. |
| Keywords: | vertical integration,platform markets,network effects,foreclosure |
| Date: | 2021–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03328392&r= |
| By: | Lassana Toure (Université de Ségou); Ousmane Konipo; Atoumane Diagne |
| Abstract: | This paper reports an analysis of the operating account and the economic profitability of farms according to the typology of cotton farmers in the CMDT zones of Fana and Koutiala in Mali, highlighting the causes of the level of profitability. The methodological approach adopted was first of all a descriptive and inferential analysis of the sociodemographic characteristics of the farms, the farm account and the economic profitability by type of farm (well-equipped, equipped and less equipped). It has been found that only wellequipped farms make a positive profit if we value family labour and organic manure. The other types of farms had difficulty covering the costs involved in seed cotton production. Cotton farmers use far too much family labour (10 people on average) without seeing their profits increase exponentially. As a result, the productivity of family labour is extremely low (almost 216 FCFA of Average Labour Remuneration Rate on average overall), making the activity economically unprofitable from this point of view. Moreover, producers of the equipped or less equipped type have negative IRRs (respectively-15% and-36%) as opposed to the well-equipped type with an IRR of 26%. Therefore, only producers of the well-equipped type have an economically profitable activity from the point of view of capital productivity, considering the 12% threshold set by credit institutions. At the end of this investigation, we propose to train cotton farmers in farm management by helping them to better optimise their production costs; reorient some active members of the household towards other incomegenerating activities; grant access to equipment credit for both well-equipped and lessequipped farms so that they can increase their yields and net cotton profits; and easily grant access to land to farms, especially well-equipped ones, so that they can sow more land. |
| Keywords: | Export Crops,Profitability Indicators,CMDT,Fana,Koutiala |
| Date: | 2021–04–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03334546&r= |
| By: | Juan Carlos Hallak (Universidad de Buenos Aires / CONICET); Andrea González (Universidad de Buenos Aires) |
| Abstract: | This paper describes two Argentine case studies of firm’s integration in global value chains (GVCs) that target non-mass market segments in developed countries. The cases involve a manufacturer of high-end footwear and a manufacturer of customized automotive parts. Based on the common findings in these two cases, we build a conceptual framework that emphasizes relational links as an opportunity of GVC insertion for middle-income countries that cannot buttress their international competitiveness on low wages. We call these modes of insertion manufacturing with co-design. |
| Keywords: | GVC; non-mass goods; design; relational links; middle-income countries |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:aoz:wpaper:81&r= |
| By: | Ines Fachbach (Department of Operations and Information Systems, University of Graz); Gernot Lechner (Department of Operations and Information Systems, University of Graz); Marc Reimann (Department of Operations and Information Systems, University of Graz; Newcastle Business School, Northumbria University, Newcastle-upon-Tyne) |
| Abstract: | Repair is a central component of a circular economy to extend the operational phase of products. Yet, the number of repair service providers as well as demand for repair have declined over the last decades, while more products than ever before were sold. Thus, for a successful transition from a linear to a circular economy the demand for repair services must be boosted to promote repair business. A starting point to achieve this goal is to increase knowledge about the decision-making process of consumers related to repair. This is the aim of this study: we investigate consumers' intention (1) to make use of repair service providers, (2) to self-repair broken items, and (3) to use repair service providers incorporated in a repair network. An extensive literature research revealed a comprehensive set of influencing factors concerning repair decisions covering environmental, social, and economic aspects. Based on these insights, a quantitative online survey was designed, and distributed in Styria, Austria. By means of a structural equation model the acquired data of 900 respondents was analysed. The results emphasise the trade-off between acting environmentally friendly and economic aspects like repair cost and time, but also highlight the effect of government intervention–in the form of setting up a network and financial support for repair–on shaping this trade-off. Furthermore, past behaviour is found to strongly drive repair intention. Finally, disparities between urban and rural areas, as well as in the maximum accepted prices and times for repair of different product types were identified. As a result our research not only contributes to scientific literature by shedding light on the role of repair networks for repair decisions, and the trade-off between environmental, social and economic aspects. It is also relevant for supporting repair companies' decision making, as well as public authorities interested in promoting repair. |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:grz:wpsses:2021-05&r= |
| By: | Pengyu Chen (University of Birmingham); Yiannis Karavias (University of Birmingham); Elias Tzavalis (University of Birmingham) |
| Abstract: | This presentation introduces a new Stata command, xtbunitroot, which implements the panel data unit root tests developed by Karavias and Tzavalis (2014). These tests allow for one or two structural breaks in deterministic components of the series and can be seen as panel data counterparts of the tests by Zivot and Andrews (1992) and Lumsdaine and Papell (1997). The dates of the breaks can be known or unknown. The tests allow for intercepts and linear trends, non-normal errors, cross-section heteroskedasticity and dependence. They have power against homogeneous and heterogeneous alternatives, and can be applied to panels with small or large time series dimensions. We will describe the econometric theory and illustrate the syntax and options of the command, with some empirical examples. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:19&r= |
| By: | Isaac K. Ofori (University of Insubria, Varese, Italy); Pamela E. Ofori (University of Insubria, Varese, Italy); Simplice A. Asongu (Yaoundé, Cameroon) |
| Abstract: | Motivated by the momentous rise in ICT diffusion, the implementation of the African Continental Free Trade Area agreement, and the expected rebound of foreign direct investment inflow to Africa from 2022, this study examines the joint effects of industrialisation and ICT diffusion on resource mobilisation in Africa. To this end, we use data on 42 African countries for the period 1996 – 2020 for the analysis. First, we provide evidence robust to several specifications from the dynamic system GMM to show that although unconditionally both industrialisation and ICT diffusion enhance (i) goods and services tax (GST), and (ii) profits, corporate and income tax (PCIT) mobilisation efforts in Africa, the effects of the former are rather remarkable in the presence of the latter. Particularly, the results show that, while ICTs amplify the effect of industrialisation on GST, only ICT usage and ICT skills matter for PCIT. Second, the study unveils ICT thresholds for complementary policies. Accordingly, industrialisation and ICTs are necessary and sufficient conditions for tax revenue mobilisation only below some ICT thresholds. Above these ICT thresholds, complementary policies are needed to maintain the overall positive incidence on tax revenue mobilisation. Policy recommendations are provided in the end. |
| Keywords: | AfCFTA; Africa; ICT access; ICT diffusion; Industrialisation; Tax; Revenue |
| JEL: | C33 F6 H2 H71 O33 O55 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:21/058&r= |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | This price bulletin was developed by researchers at IFPRI Malawi with the goal of providing clear and accurate information on the variation of weekly retail prices of selected agricultural commodities that are important for food security and nutrition in Malawi. The reports are intended as a resource for those interested in agricultural markets in Malawi. |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, food prices, legumes, roots, tubers, cereals, prices, agricultural products, markets, food security, nutrition |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspb:9b&r= |
| By: | Saeed Marzban; Erick Delage; Jonathan Yumeng Li; Jeremie Desgagne-Bouchard; Carl Dussault |
| Abstract: | The problem of portfolio management represents an important and challenging class of dynamic decision making problems, where rebalancing decisions need to be made over time with the consideration of many factors such as investors preferences, trading environments, and market conditions. In this paper, we present a new portfolio policy network architecture for deep reinforcement learning (DRL)that can exploit more effectively cross-asset dependency information and achieve better performance than state-of-the-art architectures. In particular, we introduce a new property, referred to as \textit{asset permutation invariance}, for portfolio policy networks that exploit multi-asset time series data, and design the first portfolio policy network, named WaveCorr, that preserves this invariance property when treating asset correlation information. At the core of our design is an innovative permutation invariant correlation processing layer. An extensive set of experiments are conducted using data from both Canadian (TSX) and American stock markets (S&P 500), and WaveCorr consistently outperforms other architectures with an impressive 3%-25% absolute improvement in terms of average annual return, and up to more than 200% relative improvement in average Sharpe ratio. We also measured an improvement of a factor of up to 5 in the stability of performance under random choices of initial asset ordering and weights. The stability of the network has been found as particularly valuable by our industrial partner. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07005&r= |
| By: | Situmorang, Dokman Marulitua |
| Abstract: | Trade activities that occurred at the border between Bengkayang Regency and Sarawak, specifically in Siding and Jagoi Babang districts, were in fact able to encourage domestic production. This study aims to see which management is in line with related fields in Bengkang Regency, the champion of Bengkayang Regency in Indonesia with Sarikin in Sarawak, Malaysia, which until now still uses traditional Cross-border Post or still uses the old-fashioned concept. The research method is Library Research and Field Research. As for the population in this study are the Customs and Excise staff of Jagoi Babang, the Border Society of Jagoi Babang, the Trans?Border Post Guard Officer, the Jagoi Babang Entrepreneur. The border trade model is also run coordinated and integrated by BUMDes Together by synergizing the management of the potential for natural tourism, cultural tourism and culinary tourism and handicrafts (home industries) to be part of the goods offered |
| Date: | 2021–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:4xbzs&r= |
| By: | Loretta J. Mester |
| Abstract: | The conference’s theme of new avenues for monetary policy is particularly relevant given the economic challenges presented by the global pandemic. But even before the pandemic hit, structural changes to the economy, in particular, lower estimates of the neutral real interest rate, presented challenges for monetary policymakers and suggested that new thinking was needed to ensure achievement of our monetary policy goals. Recently, both the Federal Reserve and the European Central Bank (ECB) have undertaken reviews of their monetary policy frameworks to determine whether changes were needed to increase the effectiveness of their policy strategies. The ECB released the outcome of its review in July. The Fed’s revised strategy is now about a year old. Today, I will discuss the Fed’s revised strategy, how the Federal Open Market Committee (FOMC) has put the strategy into practice, and based on that experience, what I believe are areas that would benefit from further clarification. As always, the views I will present are my own and not necessarily those of the Federal Reserve System or of my colleagues on the Federal Open Market Committee. |
| Date: | 2021–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedcsp:93044&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | Marketing strategy as an important aspect to maintain and expand opportunities to reach the market. Studies that explore the Bank's internal marketing strategies have been examined by previous research but based on competitive banking dynamics and highly dynamic market demands it is difficult to predict, the study of marketing strategies in the context of the Bank's companies is considered to be relevant for review at any time. This article aims to analyze the marketing strategies available at PT Bank Mandiri, Tbk Yogyakarta branch 2004 with the SWOT analysis method. Data was obtained through interviews with the management of the Bank Mandiri Yogyakarta branch. The analytical tool used is the analysis of industrial structure (Porter), SWOT. The results of the study through a SWOT analysis of the position of PT. Bank Mandiri in its marketing strategy uses a growth strategy. |
| Date: | 2020–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:763gv&r= |
| By: | Xiaowei Hu; Jaejin Jang; Nabeel Hamoud; Amirsaman Bajgiran |
| Abstract: | The inventories carried in a supply chain as a strategic tool to influence the competing firms are considered to be strategic inventories (SI). We present a two-period game-theoretic supply chain model, in which a singular manufacturer supplies products to a pair of identical Cournot duopolistic retailers. We show that the SI carried by the retailers under dynamic contract is Pareto-dominating for the manufacturer, retailers, consumers, the channel, and the society as well. We also find that retailer's SI, however, can be eliminated when the manufacturer commits wholesale contract or inventory holding cost is too high. In comparing the cases with and without downstream competition, we also show that the downstream Cournot duopoly undermines the profits for the retailers, but benefits all others. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06995&r= |
| By: | Dessirama, Titania; Afriyeni, Afriyeni |
| Abstract: | The purpose of this study is to find out how the application of operational risk that occurs in the teller and customer service units at PT. BPR Jorong Kampung Tangah Cabang Padang. This data collection method was collected through interviews with related parties. The analytical method in this study uses a descriptive method with an inductive mindset that explains the results of research regarding the facts that occur in the field, which are then analyzed according to existing theories. Based on the results of the study it was found that PT. BPR-JKT Cabang Padang has monitored and anticipated operational risks that will occur in every teller and customer service work unit in order to avoid things that damage the bank's good name, because tellers and customer service are front liners who will deal directly with customers. The monitoring and anticipation carried out by the bank has proven that there are fewer unwanted incidents at the teller unit, such as errors in inputting nominal money and account numbers during transactions, underpayments or overpayments to customers. As for the customer service unit, such as incorrect customer data input, the occurrence of complaints and others. |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:mektz&r= |
| By: | Gold, Natalie |
| Abstract: | “Das Adam Smith Problem” is the name given by eighteenth-century German scholars to the question of how to reconcile the role of self-interest in the Wealth of Nations with Smith’s advocacy of sympathy in Theory of Moral Sentiments. As the discipline of economics developed, it focused on the interaction of selfish agents, pursuing their private interests. However, behavioral economists have rediscovered the existence and importance of multiple motivations, and a new Das Adam Smith Problem has arisen, of how to accommodate self-regarding and pro-social motivations in a single system. This question is particularly important because of evidence of motivation crowding, where paying people can backfire, with payments achieving the opposite effects of those intended. Psychologists have proposed a mechanism for the crowding out of “intrinsic motivations” for doing a task, when payment is used to incentivize effort. However, they argue that pro-social motivations are different from these intrinsic motivations, implying that crowding out of pro-social motivations requires a different mechanism. In this essay I present an answer to the new Das Adam Smith problem, proposing a mechanism that can underpin the crowding out of both pro-social and intrinsic motivations, whereby motivations are prompted by frames and motivation crowding is underpinned by the crowding out of frames. I explore some of the implications of this mechanism for research and policy. |
| Keywords: | altruism; Das Adam Smith Problem; framing; institutions; markets; moral sentiments; motivation crowding; pro-sociality; self-interest; self-regard; trust |
| JEL: | J1 |
| Date: | 2020–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:109218&r= |
| By: | Lundborg, Petter (Lund University); Plug, Erik (University of Amsterdam); Rasmussen, Astrid Würtz (Aarhus University) |
| Abstract: | We introduce a novel strategy to study the intergenerational transmission of human capital, net of genetic skill transfers. For this purpose, we use unique data on children conceived through sperm and egg donation in IVF treatments in Denmark. Because the assignment of donors is not selective, the intergenerational human capital estimates allow for a causal nurture interpretation. Once we take account of genes, we find that only the education of mothers matters: the association between mother's education and child test scores is significant and large, whereas the association between father's education and child test scores is insignificant and practically zero. |
| Keywords: | intergenerational mobility, human capital, donor children |
| JEL: | I24 J62 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14708&r= |
| By: | Didier Laussel; Ngo Van Long; Joana Resende |
| Abstract: | A durable good monopolist faces a continuum of heterogeneous customers who make purchase decisions by comparing present and expected price-quality offers. The monopolist designs a sequence of price-quality menus to segment the market. We consider the Markov Perfect Equilibrium (MPE) of a game where the monopolist is unable to commit to future price-quality menus. We obtain the novel results that (a) under certain conditions, the monopolist covers the whole market in the first period (even when a static Mussa-Rosen monopolist would not cover the whole market), because this is a strategic means to convince customers that lower prices would not be offered in future periods, and that (b) this can happen only under the stage-wise Stackelberg leadership assumption (whereby consumers base their expectations on the value of the state variable at the end of the period). Conditions under which MPE necessarily involve sequentially trading are also derived. Un monopoleur de biens durables fait face à un continuum de clients hétérogènes qui prennent des décisions d'achat en comparant les offres qualité-prix actuelles et attendues. Le monopole conçoit une séquence de menus qualité-prix pour segmenter le marché. Nous considérons l'équilibre parfait de Markov (MPE) d'un jeu où le monopoleur est incapable de s'engager sur les futurs menus de qualité-prix. Nous prouvons que (a) dans certaines conditions, le monopoleur couvre l'ensemble du marché dans la première période (même lorsqu'un monopoleur statique de Mussa-Rosen ne couvrirait pas l'ensemble du marché), car c'est un moyen stratégique de convaincre les clients que des prix plus bas ne seraient pas proposés dans les périodes futures, et que (b) cela ne peut se produire que sous l'hypothèse de leadership par étapes de Stackelberg (dans laquelle les consommateurs fondent leurs attentes sur la valeur de la variable d'état à la fin de la période). Les conditions dans lesquelles le MPE implique nécessairement des échanges séquentiels sont également dérivées. |
| Keywords: | Intertemporal price discrimination,Durable goods monopoly,Product quality,Markov perfect equilibrium, Discrimination tarifaire intertemporelle,Monopoleur des biens durables,La qualité des produits,équilibre parfait de Markov |
| JEL: | C73 D42 L12 L15 |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:cir:cirwor:2021s-31&r= |
| By: | Carbajal-De-Nova, Carolina |
| Abstract: | The effect of wages on price inflation has been a foremost subject in economics. This paper evaluates the effect in Mexican manufacturing for two sets of periods. The first one, from 1994 to 2003, covers an initial period of the North American Free Trade Agreement (NAFTA). The second period encompass from 2007 to 2016, comprising the Great Recession. For both periods, data is available on a monthly frequency. A first equation deals with wages and bilateral nominal exchange rate impacts on the producer price inflation. A second equation measures the effect of this last variable, besides a bilateral nominal exchange rate and the wage effect on consumer price inflation. These equations follow Pujol and Griffiths (1997), using an error correction model and Granger causality tests. The results for the mentioned periods expose those wages have an almost null effect in both the inflation of producer and consumer prices. |
| Keywords: | wages; consumer price inflation; producer price inflation; bilateral nominal exchange rate. |
| JEL: | J00 J3 |
| Date: | 2021–02–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109555&r= |
| By: | Aliz Bertoloni Díaz |
| Abstract: | Este trabajo examina el impacto de la institución colonial de la Encomienda sobre la violencia del conflicto armado del siglo XX en Colombia. A pesar de haber sido una institución extractiva, hay evidencia que muestra que las regiones en donde estuvo presente desarrollaron capacidad estatal más temprano, desembocando en Estados locales más fuertes. El análisis muestra que estos Estados tuvieron menor cantidad de ataques violentos por parte de grupos insurgentes, paramilitares y estatales durante el conflicto interno de fines del siglo pasado. Se encontró que este efecto fue el resultado de la mayor capacidad estatal expresada en provisión de bienes públicos, explicada en gran parte por la presencia de la Encomienda en el siglo XVI y por el efecto de esta institución en la presencia de Estados coloniales locales a finales del siglo XVIII. Los resultados aquí presentes muestran la importancia de analizar la capacidad estatal a nivel sub-nacional, que explica resultados distintos del conflicto entre regiones del mismo país. |
| Keywords: | Encomienda, capacidad estatal, instituciones, conflicto armado, Colombia, colonialismo |
| JEL: | H12 H79 N36 N46 N9 |
| Date: | 2020–08–17 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019553&r= |
| By: | Margaux Escoffier (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique); Emmanuel Hache (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique, IRIS - Institut de Relations Internationales et Stratégiques); Valérie Mignon (EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique, CEPII - Centre d'Etudes Prospectives et d'Informations Internationales - Centre d'analyse stratégique); Anthony Paris (LEO - Laboratoire d'Économie d'Orleans - UO - Université d'Orléans - Université de Tours - CNRS - Centre National de la Recherche Scientifique, EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper investigates the determinants of solar photovoltaic (PV) deployment in the electricity mix for a panelof OECD and BRICS countries from 1997 to 2016 by paying particular attention to the impact of oil market con-ditions. Relying on a nonlinear, regime-switching specification, we show that rising oil prices stimulate PV de-ployment only if their growth rate exceeds 6.7% per annum. Although wefind that various other determinantsmatter—with the influence of some of them depending on the situation on the oil market—public policies playa crucial role. |
| Keywords: | Solar photovoltaic,Renewables deployment,Oil prices,Panel smooth transition regression. |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03339134&r= |
| By: | Emmanuel Laffort (CREG - Centre de recherche et d'études en gestion - UPPA - Université de Pau et des Pays de l'Adour); Nicolas Dufour (PSB - Paris School of Business) |
| Abstract: | La fraude dans les organisations est une réalité qui coûterait en moyenne près de 6% des dépenses des organisations (J. Gee, M. Button, 2017), un montant de nature à inciter les organisations à adresser cette réalité avec conviction. Or, la fraude, qu'elle soit interne ou externe est abordée du bout des lèvres et reconnue souvent d'encore plus loin. Afin d'apporter un éclairage sur la façon dont la lutte contre la fraude s'organise, nous avons donné la parole aux contrôleurs, managers et directeurs de plusieurs organismes agissant en tant que mutuelles de complémentaires de santé, qui, puisqu'elles sont fortement exposées à ce risque, sont des organisations ayant acquis une certaine maturité sur le sujet. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03336041&r= |
| By: | Julia Anna Bingler (CER–ETH – Center of Economic Research at ETH Zurich, Switzerland); Chiara Colesanti Senni (Council on Economic Policies); Pierre Monnin (Council on Economic Policies) |
| Abstract: | Climate risks are now fully recognized as financial risks by asset managers, investors, central banks, and financial supervisors. Against this background, a rapidly growing number of market participants and financial authorities are exploring which metrics to use to capture climate risks, as well as to what extent the use of different metrics delivers heterogeneous results. To shed a light on these questions, we analyse a sample of 69 transition risk metrics delivered by 9 different climate transition risk providers and covering the 1,500 firms of the MSCI World index. Our findings show that convergence between metrics is significantly higher for the firms most exposed to transition risk. We also show that metrics with similar scenarios (i.e. horizon, temperature target and transition paths) tend to deliver more coherent risk assessments. Turning to the variables that might drive the outcome of the risk assessment, we find evidence that variables on metric's assumptions and scenario's characteristics are associated with changes in the estimated firms' transition risk. Our findings bear important implications for policy making and research. First, climate transition risk metrics, if applied by the majority of financial market participants in their risk assessment, might translate into relatively coherent market pricing signals for least and most exposed firms. Second, it would help the correct interpretation of metrics in financial markets if supervisory authorities defined a joint baseline approach to ensure basic comparability of disclosed metrics, and asked for detailed assumption documentations alongside the metrics. Third, researchers should start to justify the use of the specific climate risk metrics and interpret their findings in the light of the metric assumptions. |
| Keywords: | financial climate risks, corporate finance, climate risk metrics, climate transition risk, spearman's rank correlation, hierarchical cluster analysis, Ward's minimum variance criterion, Lasso regression analysis |
| JEL: | C83 D53 D81 G12 G32 Q54 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eth:wpswif:21-363&r= |
| By: | Lassana Toure (University of Segou) |
| Abstract: | In Mali, lack of access to agricultural credit becomes a factor behind low farmer income and even rural poverty. However, agricultural credit is seen as a tool to increase production as well as farm income. The objective of this research is to evaluate the effect of equipment credit on the income of cotton producers in Mali. To this end, a survey was carried out among 400 producers in 2019, 127 of whom had had their equipment credit applications accepted, compared to 273 who had not had their equipment credit applications accepted. The survey was carried out in the areas of the Compagnie Malienne de Développement de Textiles (CMDT) of Fana and Koutiala in Mali. The method of analysis is the estimation of the instrumental variables multiple regression model of credit, implementing the estimation method of Heckman (1979) to account for the zero profit for 16% of the producers. The results of the econometric model estimates show that the variables that lead to an increase in income at the 5% threshold are: access to credit, quantity sold of cotton, costs of material goods used on the farm, total area sown, quantity sold of other crops, selling price of other crops. In other words, access to equipment credit could enable cotton producers to improve their income by 35%. Equipment credit entitles farmers to use more capital goods on the farm. This use of equipment increases agricultural productivity and yields, and in turn increases farm income.Based on these results, we can make some policy recommendations to boost cotton production, make other crops more beneficial to producers andgrant more equipment credit. |
| Keywords: | Equipment credit,heckman,instrumental variable,cotton producer,agricultural income,CMDT,Mali |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03334545&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This research is a qualitative descriptive approach and the object of research is involved elements such as the school Principal, Vice Principal Curriculum and teachers at SMPN 7 Pematangsiantar. The focus of this research is to identify and analyze the implementation of Curriculum Policy, 2013 in SMPN 7 Pematangsianar using a model that was initiated by George C. Edward III in the form of communication, resources, disposition and bureaucratic structures that play a role in policy implementation. The data used is the verbal data from respondents information about the implementation of curriculum policy in 2013 in SMPN 7 Pematangsiantar. The technique of collecting data using interviews, observation and documentation. Analysis of the data in this study include stage data reduction, data presentation and data verification or conclusion. The results showed that the implementation of curriculum policy in 2013 in SMPN 7 Pematangsiantar generally running well but not optimal. Until runs in the third year, the evaluations are made every year to make more optimal implementation of this policy. In the communication factor, sub factor and consistency of information transmission has not gone well, from the sub factor clarity there is little problem. The vagueness of this information related to the curriculum changes that took effect too quickly |
| Date: | 2021–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:68gkf&r= |
| By: | Collard, Fabrice; Licandro, Omar |
| Abstract: | This paper embeds firm dynamics into the Neoclassical model and provides a simple framework to solve for the transitional dynamics of economies moving towards more selection. As in the Neoclassical model, markets are perfectly competitive, there is only one good and two production factors (capital and labor). At equilibrium, aggregate technology is Neoclassical, but the average quality of capital and the depreciation rate are both endogenous and positively related to selection. At steady state, output per capita and welfare both raise with selection. However, the selection process generates transitional welfare losses that may reduce in around 60% long term (consumption equivalent) welfare gains. The same property is shown to be true in a standard general equilibrium model with entry and fixed production costs. |
| Keywords: | Firm dynamics and selection; Neoclassical model; Capital irreversibility, Investment distortions; Transitional dynamics, Welfare gains |
| JEL: | E13 E23 D6 O4 |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:125924&r= |
| By: | Diego Rodríguez Rodríguez |
| Abstract: | El objetivo de este trabajo es ofrecer un análisis detallado de la estructura y previsible evolución de los costes y precios de la electricidad, así como una discusión de los aspectos más relevantes a estos efectos del funcionamiento de los mercados asociados. También se discuten y analizan algunas propuestas avanzadas por el Gobierno y otros actores para responder a la intensa preocupación social por el aumento de los precios mayoristas y su repercusión sobre la factura de los consumidores. En relación con los costes regulados, el trabajo analiza entre otras cuestiones la evolución previsible de los costes de las redes, el régimen de retribución específica renovable y la evolución de la deuda eléctrica, que en su conjunto deberían presentar una evolución favorable a medio plazo. Se abordan también algunas cuestiones relativas al diseño marginalista del mercado eléctrico, la posibilidad de extraer parte de los windfall profits ligados al aumento del precio de los derechos de emisión de CO2 y la gestión del uso hidroeléctrico del agua, entre otras. Entre las propuestas que se formulan se incluyen la de una actualización más rápida de la retribución específica de las renovables para adaptarla a la evolución de los precios reales, así como una reducción drástica del impuesto especial sobre la electricidad. En un plazo un poco más dilatado debería abordarse la traslación completa de los sobrecostes extrapeninsulares a los Presupuestos Generales del Estado y, por supuesto, abordar de forma definitiva la reforma de la fiscalidad de los consumos energéticos con el fin de evitar las distorsiones causadas por la acumulación de instrumentos fiscales y parafiscales |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaeee:eee2021-28&r= |
| By: | Dorosh, Paul A.; Minot, Nicholas; Kabir, Razin; Hossain, Shahadat |
| Abstract: | Bangladesh has a complex rice value chain consisting of farmers, upstream paddy wholesalers and intermediaries, millers, and downstream rice traders, wholesalers and retailers. Each of these actors serve distinct functions and have lines of trade that affect their stock turnover in different ways. There is a lack of complete information on the volume of rice traded and stored by the private sec-tor. This leads to difficulties in the timeliness of requisite policy actions on the part of the govern-ment. When rice prices spike, the typical response has been to lay the blame at the feet of millers and traders. For the government, it is important to have a general picture of the level of private stocks in a given year to ensure appropriate adjustments in procurement, distribution and import de-cisions can be made to meet their food security and price stabilization objectives. |
| Keywords: | BANGLADESH, SOUTH ASIA, ASIA, trade, rice, paddy, valur chains, surveys, households, grain, private sector, stocks, trader, rice stocks, miller |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprpp:6&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | The purpose of this study is to analyze the communication competence of village midwives and TBAs in supporting the decrease of maternal and infant mortality rate and to analyze the efforts of village midwives and TBAs in maintaining partnership in Singkohor sub-district of Aceh Singkil district. The method used is qualitative method with constructivist paradigm. Data were collected based on in-depth interviews on 6 informants consisting of 3 village midwives and 3 dukun bayi. The results showed that the midwives 'midwives' partnership and midwife communications process worked well. The communication competence of village midwives and midwives is seen from the motivation, knowledge and skills indicate that the motivation of the village midwife to partner with the dukun baby is due to the belief and closeness of the community to the midwife whose knowledge is gained from the experience passed down from generation to generation while the shaman has motivation partnering with the village midwife because the TBA believes in the credibility of midwives in handling childbirth where knowledge is gained from the learning process. |
| Date: | 2020–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:wspf6&r= |
| By: | Hannah, Leslie; Bennett, Robert J. |
| Abstract: | We present the first available - and near-complete - list of large UK manufacturers in 1881, by complementing the employer data from that year’s population census (recovered by the British Business Census of Entrepreneurs project) with employment and capital estimates from other sources. The 438 largest firms with 1,000 or more employees accounted for around one-sixth of manufacturing output. Examples can be found in most industries. Exploiting powered machinery, intangible assets, new technologies and venture capital, and generally operating in competitive markets, their exports about equalled domestic sales. The more capital-intensive accessed stock markets, more - and in larger firms - than in follower economies. Some alleged later causes of UK decline relative to the US or Germany cannot be observed in 1881. Indeed, contemporary overseas observers - capitalist and socialist - correctly recognized the distinctive features of UK manufacturing as its exceptional development of quoted corporations, professional managers and “modern,” scalable, factory production. |
| Keywords: | large manufacturers; capital intensity; industrial concentration; stock exchanges |
| JEL: | L60 N63 N83 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111895&r= |
| By: | Christopher Esposito; ; |
| Abstract: | Over the 20th century, the geography of breakthrough innovation in the United States – defined as the spatial distribution of the production of patents that are both novel and impactful – underwent three broad changes. At the start of the 20th century, breakthrough innovation was concentrated in populous and knowledge-diverse metropolitan areas. By the 1930s, breakthroughs were created less frequently across the entire country and so their invention had a less distinct geography. The substantial creation of breakthroughs resumed in the 1960s and was once their invention was concentrated in large and knowledge metropolitan areas. However, during the latter part of the century the invention of breakthroughs also frequently involved long-distance collaborations between inventors. In this paper, I document these historical changes to the geography of breakthrough innovation and propose a model to explain why they occurred. The model suggests that the geography of breakthroughs is established by four factors: (1) the prevailing knowledge intensity of breakthrough inventions, (2) the distance- based frictions incurred by technologies used for collaboration, (3) the distance-based frictions incurred by the technologies used for knowledge-sourcing, and (4) the disruptiveness of the regime of technological change. I generate support for the model, and conclude the paper by discussing lessons that the 20th century’s geography of breakthrough innovation provide for anticipating possible futures for the geography of innovation in the 21st century, including in the years beyond COVID-19. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:2126&r= |
| By: | Elie Ndemba Tshilambu (Université protestante au Congo - Université protestante au Congo) |
| Abstract: | L'objectif du présent article est d'analyser le rôle de la fiscalité et mesurer l'effet de celle-ci à travers son impact sur le capital public, dans la croissance économique en République Démocratique du Congo en s'appuyant sur le modèle de croissance endogène de Barro (1990) et à déterminer le taux optimal de pression fiscale à travers l'estimation du modèle de SCULLY. L'interaction entre la fiscalité et la croissance pourrait avoir une allure non linéaire, sous la forme d'une courbe de LAFFER, le test Hansen va servir à montrer l'effet de seuil dans la relation non linéaire entre la pression fiscale et la croissance économique. Un modèle ARDL a été estimé sur la période 1990-2020 pour analyser la dynamique de ces deux variables. Les résultats obtenus vont dans le sens d'une relation croissante entre la fiscalité et la croissance économique en RDC. Ainsi, à travers l'impôt, les ménages contribuent au financement du capital public qui conduit in fine à améliorer la croissance économique. Il en est ressorti de cette étude que les niveaux des composantes fiscales observés n'ont pas été efficients et optimaux par rapport aux taux de croissance économique observés en RDC durant la période 1990-2020. L'estimation du modèle de SCULLY révèle qu'avec un niveau de 23% de pression fiscale, on peut avoir une croissance économique soutenue. |
| Keywords: | Politique Budgétaire,Croissance économique,Pression fiscale Classification JEL : E62,E22,O40,C11 |
| Date: | 2021–04–28 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03210477&r= |
| By: | Abramov Alexander (RANEPA); Chernova Maria (RANEPA); Radygin Alexandr (Gaidar Institute for Economic Policy) |
| Abstract: | In 2020, after the sudden financial shock in March caused by sales of risky assets by investors against the backdrop of the rising coronavirus pandemic, stock markets in many countries recovered faster than did the economic indicators. The traditional hypothesis that the value of financial assets depends more strongly on future investor expectations than on past events has been confirmed. |
| Keywords: | Russian economy, stock market, bond market, corporate bond market, derivatives market, private investors |
| JEL: | G01 G12 G18 G21 G24 G28 G32 G33 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1119&r= |
| By: | Robert Stehrer (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | In this paper we provide a method to characterise global value chains and a related decomposition of bilateral gross exports by distinguishing three different stages of the value-added flows (i) the source of value added, (ii) the final assembly stage of a product, and (iii) the final absorption (sink) of this product. Methodologically this is embedded in a simple framework using matrix algebra allowing for intuitive interpretations of the individual decomposition terms and results. The approach leads to a novel decomposition of bilateral gross export flows and related value-added trade indicators. It is shown how these correspond to existing measures using the property of inverse matrices. Specifically, the paper sheds light on the nature of the double-counting terms discussed in the literature. Finally, the approach outlined is extended by incorporating insights from the hypothetical extraction method. We argue that this is a complementary approach which however can be used to flexibly define the value chains of interest and characterise the respective flows that are considered part of this defined value chain, again carefully differentiating the source, assembly, and sink dimensions. |
| Keywords: | global value chains, decomposition, gross exports, double-counting, hypothetical extraction |
| JEL: | F11 F14 F15 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:wii:wpaper:209&r= |
| By: | Karen Dayanna Ramírez Quiroga (UDI - Universidad de Investigación y Desarrollo); Gisela Leidy Galván (UDI - Universidad de Investigación y Desarrollo) |
| Abstract: | This document delves into the high levels of cooperation that increase the levels of innovation for the agro-industrial sector of Bucaramanga and its metropolitan area. A methodology was used with a quantitative approach, non-experimental type, cross-sectional with correlational scope, in which two variables were related: business cooperation and innovation, through the assessment and study of associativity indicators, the dynamics were also established and impact on the functioning of these variables in the marketers, by collecting information with the help of surveys taken from a sample of 40 organizations, which allowed the correlation between the variables with the help of the SPPS software. The results made it possible to establish improvement actions in the trading companies, obtaining a positive impact on the sector, proposing strategic programs, influencing continuous improvement and increasing competitiveness. |
| Abstract: | El presente documento ahonda en los altos niveles de cooperación que aumentan los niveles de innovación para el sector agroindustrial de Bucaramanga y su área metropolitana. Se utilizó una metodología con enfoque cuantitativo, de tipo no experimental, de corte transversal con alcance correlacional, en el cual se relacionaron dos variables: cooperación empresarial e innovación, a través de la valoración y estudio de indicadores de asociatividad, también se estableció la dinámica e impacto en el funcionamiento de dichas variables en las comercializadoras, mediante la recolección de información con la ayuda de encuestas tomadas a una muestra de 40 organizaciones, lo que permitió la correlación entre las variables con la ayuda del software SPPS. Los resultados permitieron establecer acciones de mejoras en las comercializadoras obteniendo un impacto positivo en el sector, proponiendo programas estratégicos, influyendo en la mejora continua y el aumento de la competitividad. |
| Keywords: | Cooperation,innovation,correlation,Cooperación,innovación,correlación Cooperation |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03323348&r= |
| By: | Headey, Derek D.; Ecker, Olivier; Comstock, Andrew R.; Ruel, Marie T. |
| Abstract: | Suboptimal diets are a major risk factor for avoidable death and disease in low- and middle-income countries. Evidence shows that some foods or food components (e.g., processed red meat, saturated fat, salt, sugar) significantly elevate the risk of noncommunicable diseases and mortality, while others protect health (e.g., vegetables, fruits, pulses, nuts/seeds, fish, whole grains—referred to in this document as “protective foods†). We used household surveys to compare dietary patterns in Ethiopia, Kenya, Tanzania, and Uganda to the EAT-Lancet healthy reference diet and to quantify and explain consumption gaps for nutritious foods. Compared to the EAT-Lancet healthy reference diet, consumption gaps for pulses and nuts/seeds, vegetables, and fruits are large for both poor and rich consumers in rural and urban areas in the four countries studied, while consumption gaps for meat, fish, and eggs and dairy foods are much larger for lower income groups. Food expenditures of most households in these four countries are far too low to allow consumption of the healthy reference diet; animal-source foods and vegetables are the largest cost components of food expenditures, although quantities consumed of both food groups are much lower than the EAT-Lancet healthy reference diet. Income elasticities of demand for pulses and nuts/seeds and vegetables are often low or moderate, suggesting weak consumer preference for these foods, while income elasticities for fruits and animal-source foods are relatively high. Income growth alone will not solve dietary problems in East Africa; in addition to supply-side interventions to improve affordability, special interventions are required to increase consumer demand for underappreciated protective (nutritious) foods such as pulses and nuts/seeds and vegetables. |
| Keywords: | EAST AFRICA; AFRICA; policies; foods; food production; nutrition; nutritional status; demand; health; food consumption; food prices |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:prnote:1265314326&r= |
| By: | Marta Fana; Francesco Sabato Massimo; Angelo Moro |
| Abstract: | The global pandemic induced by the spread of the Covid-19 acted as an exogenous shock which forced organisations to adopt telework as a daily and common form of work along a relevant fraction of the occupational structure. Indeed, most of the growing contributions on telework focused on the estimation of employment which can work remotely, while less or any attention has been paid to the impact of the ünewý work arrangement on the labour process. Our paper aims at filling this gap. Drawing from a real-time cross-professional, cross-organisational and cross- national qualitative survey, our research investigates two main and interrelated aspects. First, we show how organisations reacted to this shock in terms of autonomy and forms of control including standardisation and teamwork dimensions across different occupations and economic sectors. Second, we describe how and to which extent workers respond: adapting, resisting or appropriating the new organisation of work. More specifically, we study the effect on the above-mentioned dimensions across different occupations to highlight heterogeneity along the vertical division of labour. |
| Keywords: | Telework; Covid-19; Work organisation; Labour Process; Autonomy; Control. |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2021/28&r= |
| By: | Appel, Franziska; Loewe, Axel |
| Abstract: | Research software has become a major asset in academic research. It often is the backbone of existing research methods, enables new research methods, implements and embeds research knowledge, and constitutes an essential research product in itself. Research software must be sustainable in order to understand, replicate, reproduce, and build upon existing research or conduct new research effectively. A change is needed in the way research software development and maintenance are incentivized, funded, structurally and infrastructurally supported, and legally treated. Failing to do so will threaten the quality and validity of research. In this context, more than 50 scientists from various institutions gathered at the Robert Koch Institute in November 2019 for a DFG roundtable discussion on sustainability aspects of research software and to draw attention to the need for funding instruments for the sustainable development and provision of research software. The subsequently published position paper (Anzt et al., 2021) seeks to increase the awareness of political and academic decision-makers on the importance and needs of sustainable research software practices. In particular, it recommends strategies and measures to create an environment for sustainable research software. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iamopb:42e&r= |
| By: | Simplice A. Asongu (Yaounde, Cameroon); Alex Adegboye (Covenant University, Ogun State, Ota, Nigeria); Jeremiah Ejemeyovwi (Covenant University, Ogun State, Ota, Nigeria); Olaoluwa Umukoro (Covenant University, Ogun State, Ota, Nigeria) |
| Abstract: | This study assesses the relevance of mobile phone technology in complementing gender inclusive education (i.e. primary, secondary and tertiary) to promote public accountability (i.e. involving horizontal, vertical and diagonal accountability dynamics). The study utilizes the generalized method of moments (GMM) technique to establish the empirical evidence based on 48 Sub-Saharan African countries for the period 2005-2018. The following findings are documented from the linkages between mobile phone technology, inclusive education and public accountability. First, the interactions between mobile phone technology and inclusive education promote public accountability. Second, with regard to net effects, while unexpected negative signs are established, the corresponding positive interactive effects indicate that enhancing the penetration of mobile phone technology beyond some critical thresholds ensures positive net effects. Hence, policy makers should ensure that mobile phone technology penetration exceeds the established thresholds in order for gender inclusive education to positively affect public accountability. |
| Keywords: | Mobile phone technology, educational quality, public accountability, Africa |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:aak:wpaper:21/002&r= |
| By: | Joseph I. Uduji (University of Nigeria, Nsukka, Nigeria); Elda N. Okolo-Obasi (University of Nigeria, Nsukka, Nigeria) |
| Abstract: | Purpose – The purpose of this paper is to critically examine the corporate social responsibility initiatives of multinational oil companies in Nigeria. Its main focus is to investigate the impact of the global memorandum of understanding (GMoU) on equipping the rural young people with essential farming skills and knowledge for adoption and application of modern agricultural inputs in the Niger Delta region. Design/methodology/approach – This paper adopts a survey research technique, aimed at gathering information from a representative sample of the population, as it is essentially cross-sectional, describing and interpreting the current situation. A total of 800 rural young people were sampled across the oil producing region. Findings – The results from the use of combined propensity score matching and logit model indicate that the GMoU model has a significant impact on development of informal farm entrepreneurship generally, but somewhat undermined rural young people in the targeted agricultural clusters. Practical implications – This suggests that youth-specific CSR farm projects can be effective in providing young people with the extra push needed to tackle the knowledge gap and poor agronomic that erect the below-per yield and lack of competitiveness of small-holder farmers in the region. Social implications – It implies that a coherent and integrated CSR response from business would be necessary to unlock investment opportunities on young people in farms for agricultural competitiveness and food security in Africa. Originality/value – This research adds to the literature on informal farm entrepreneurship and rural communities’ debate in sub-Saharan Africa. It concludes that business has obligation to help in solving problems of youth unemployment in developing countries. |
| Keywords: | Global memorandum of understanding (GMoU), Rural young people, Informal farm entrepreneurship, sub-Saharan Africa |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:abh:wpaper:21/033&r= |
| By: | Maxime Delabarre (Sciences Po - Sciences Po) |
| Abstract: | This paper aims to investigate the economic and institutional determinants of Foreign Direct Investment in the world post-2000. To this end, I analyze the inwards stocks of FDIs using unilateral and bilateral data. Based on the UNCTAD database, I also study the impact of Bilateral Investment Treaties on the inflow of FDIs. Main results provide evidence supporting the idea that treaties increase the inflows of FDIs in the years following their signature. However, regulations aimed at increasing the protection of property rights have a larger effect on the attractiveness for investors. This paper does not find robust evidence demonstrating that political stability and corruption level have significant effects. More, I demonstrate that an increase of tariffs in the host country results in an increase of FDIs, supposedly due to relocation processes. |
| Keywords: | FDI,economics,law,investments,institutions,political,development |
| Date: | 2021–09–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03334549&r= |
| By: | Arnade, Carlos; Hoffman, Linwood; Effland, Anne |
| Abstract: | This paper examines the impact of the U.S. Department of Agriculture’s (USDA) projections of annual corn output on the price of corn futures. We tested if output projections significantly drive responses to the futures market. We also tested if the accuracy of past projections influences market response to the current projections. For each month—from May (planting month) to October (harvesting month)—we estimated a system of equations representing the daily opening, closing, high-, and low-futures prices. These equations test the forecast’s impacts on both price levels and daily variances. We found USDA’s projection of annual corn production influenced future prices and daily variances. The projection moved the future price closer to the October harvest price, and its impact lingered for several days. We found errors in past output projections have only a small effect on the projection impacts on future prices. |
| Keywords: | Agribusiness, Agricultural Finance, Demand and Price Analysis, Financial Economics, Institutional and Behavioral Economics, Marketing, Production Economics, Research Methods/ Statistical Methods, Risk and Uncertainty |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usdami:313488&r= |
| By: | Ayunisa, Diana Febri; Hendra, Muhammad |
| Abstract: | The purpose of this study was to determine the application of m-banking in improving banking service and service at PT. Bank Pembangunan Daerah Sumatera Barat Cabang Siteba. This study uses qualitative data analysis as a research method that describes descriptively about the application of m-banking in improving banking service and services at PT. Bank Pembangunan Daerah Sumatera Barat Cabang Siteba. The results of this study indicate that the application of m-banking makes it easier for customers to carry out financial and non-financial transactions, so that customers are interest in using nagari m-banking features such as nagari info, nagari transfer, nagari QR and nagari admin can provide convenience to customers, without have to come to the bank, and without having to queue at the bank |
| Date: | 2021–08–22 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:tmpvj&r= |
| By: | Diego Castañeda Garza (ITESM-CSF); Alice Krozer (El Colegio de México) |
| Abstract: | This paper’s contribution is a reconstruction of the distribution of wealth employing a sample of wills from El Colegio de Sonora database for the years 1871-1910. We show that the rapid industrialisation/modernisation process that ensued in northern Mexico during the late 19th and early 20th century lead to a continuous increment in wealth concentration at the top of the distribution, going from a Gini index measure of 0.48 in 1871 to 0.79 in 1910. Rather than a fundamental (kuznetsian) necessity, however, our data suggests a critical role played by the political economy at the time in a gerschenkronian fashion and highlight the importance of the control of natural resources on inequality dynamics. The paper hereby engages with and contributes to the ongoing discussion about the role of economic and political elites in inequality dynamics and their reproduction over time. |
| Keywords: | inequality, wealth inequality, elites, Mexico, wills, Sonora, social structure |
| JEL: | D63 E01 I3 N36 P16 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:emx:ceedoc:2020-04&r= |
| By: | Ibrahim A. Adekunle (Olabisi Onabanjo University, Ago-Iwoye, Nigeria); Toluwani G. Kalejaiye (Ijagun, Ogun State, Nigeria); Ayomide O. Ogunade (Olabisi Onabanjo University, Ogun State, Nigeria); Sina J. Ogede (Olabisi Onabanjo University, Ogun State, Nigeria); Caleb O. Soyemi (Olabisi Onabanjo University, Ago-Iwoye, Nigeria) |
| Abstract: | The social movement is inspiring meaningful conversation about the discriminatory practices that Africa women have long faced in every aspect of their lives. However, despite considerable improvement in the gender balance discourse, the worst cases of gender imbalances are still recorded in sub-Sahara Africa (SSA). Macroeconomic volatility, both as a source and a reflection of underdevelopment, is a fundamental concern for women in SSA. This paper leans empirical credence to the role of macroeconomic policies (fiscal and monetary policies indices) for gender equality in SSA from 1993 through 2017. We gathered panel data on the indices of macroeconomic policies and gender inequality in all 48 SSA countries. We employed the dynamic panel system generalised method of moments estimation procedure (dynamic system GMM) to establish a baseline level relationship between the variables of interest. We adjusted for heterogeneity assumptions inherent in ordinary panel estimation and found a basis for the strict orthogonal relationship among the variables. Our results suggest fluctuations in macroeconomic policies as a lead factor for gender equality in SSA countries. Efforts should be tailored towards balanced macroeconomic policies that can guarantee sustainable gender equality approaches to collective prosperity. |
| Keywords: | Macroeconomic Policy, Gender Equality, Dynamic GMM, Sub-Sahara Africa |
| JEL: | C33 E61 I18 J16 |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:aak:wpaper:20/009&r= |
| By: | Susan Athey (Graduate School of Business, Stanford University); Katy Ann Bergstrom (Development Research Group, The World Bank); Vitor Hadad (Graduate School of Business, Stanford University); Julian C. Jamison (Department of Economics, University of Exeter); Berk Özler (Development Research Group, The World Bank); Luca Parisotto (The World Bank); Julius Dohbit Samaa (University of Yaoundé) |
| Abstract: | Long-acting reversible contraceptives are highly effective in preventing unintended pregnancies, but take-up remains low. This paper analyzes a randomized controlled trial of interventions addressing two barriers to long-acting reversible contraceptive adoption, credit, and informational constraints. The study offered discounts to the clients of a women's hospital in Yaoundé, Cameroon, and cross-randomized a counseling strategy that encourages shared decision-making using a tablet-based app that ranks modern methods. Discounts increased uptake by 50 percent, with larger effects for adolescents. Shared decision-making tripled the share of clients adopting a long-acting reversible contraceptive at full price, from 11 to 35 percent, and discounts had no incremental impact in this group. |
| Keywords: | family planning, fertility, long-acting reversible contraceptives, heterogenous treatment effects |
| JEL: | C13 C93 D91 I15 J13 O12 |
| Date: | 2021–09–16 |
| URL: | http://d.repec.org/n?u=RePEc:exe:wpaper:2105&r= |
| By: | Diemer, Andreas; Iammarino, Simona; Perkins, Richard; Gros, Axel |
| Abstract: | The mining of several critical raw materials – including the so-called ‘conflict minerals’ associated with armed conflict and human rights abuses – and their combination, refining and use in many new advanced electronic products, are providing an important material infrastructure to current technological progress. Relying on text analysis of USPTO patent data between 1976 and 2017, our explorative study provides a methodological and empirical starting point for exploring the technological and geographical linkages between technological paradigms and selected critical and conflict materials (CCMs). Our descriptive analysis finds evidence of a clear association between ICT technologies and CCM intensity over time, and of a striking resource-technology divide in global ICT value chains between value creating and value extracting activities across Global North and Global South and their regions. The paperintends to emphasize the need for a more critical, spatially sensitive approach to studying resource-based technological change to expose the uneven development consequences created, sustained, or mitigated by technological progress. |
| Keywords: | critical and conflict materials; paradigm shift; technological demand; geography of technology; geography of resource supply |
| JEL: | O30 Q34 Q55 R11 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111894&r= |
| By: | Längle, Katharina; Xu, Ankai; Tian, Ruijie |
| Abstract: | This paper uses Chinese firm level data to detect the international propagation of adverse shocks triggered by the US hurricane season in 2005. We provide evidence that Chinese processing manufacturers with tight trade linkages to the United States reduced their intermediate imports from the United States between July and October 2005. We further show that the direct exposure to US supply shocks led to a temporary decline of firm exports between September and November 2005, although we do not find consistent evidence of international propagation of supply shocks along global value chains. Moreover, the paper finds that firms with more diversified suppliers tend to be less affected by the US hurricane disaster, pointing to firm sourcing diversification as a way to increase resilience to adverse shocks. |
| Keywords: | production networks,resilience,diversification,shock transmission,supply chains,natural disasters |
| JEL: | F12 F14 F15 F61 L14 E23 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wtowps:ersd202113&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | The focus of the study was to identify and analyzed the policy implementation HIV testing and counseling program in Teladan health center in order to achieve the SDG’s target by using interactive issues of GeorgeCEdward III such as communication, resources, disposition, bereaucratic structure, that has a role in policy implemetation.These fourth issues was meaningful due to policy implemetation and designed by qualitative method through descriptive analysis and object was Medan Health Department, Teladan Health Center and Community Health Center In working area.The result showed that the implementation HIV testing and counseling program in Teladan Health Center for achieving the SDG’s target was qualify through not perfect yet. |
| Date: | 2021–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:h54t9&r= |
| By: | Arrighetti, Alessandro; Lasagni, Andrea; Gnarini, Daniela; Semenza, Renata |
| Abstract: | Multicultural enterprises can be considered as a subset of the complex phenomenon of migrant entrepreneurship Starting from a theoretical overview of the phenomenon, the study analyzes multicultural enterprise experiences. Various topics, ranging from perceived advantages to obstacles encountered in everyday business, are discussed. In its conclusion, the study presents recommendations on how to adjust support actions to the specific needs of multicultural enterprises. |
| Keywords: | Multicultural Firm,Migrant Firm |
| JEL: | L20 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:240904&r= |
| By: | Elisavet Syriopoulou (Department of Medical Epidemiology and Biostatistics, Karolinska Institutet, Stockholm, Sweden); Sarwar I Mozumder (Biostatistics Research Group, Department of Health Sciences, University of Leicester, Leicester, UK); Mark J Rutherford (Biostatistics Research Group, Department of Health Sciences, University of Leicester, Leicester, UK); Paul C Lambert (Department of Medical Epidemiology and Biostatistics, Karolinska Institutet, Stockholm, Sweden and Biostatistics Research Group, Department of Health Sciences, University of Leicester, Leicester, UK) |
| Abstract: | When interested in a time-to-event outcome, competing events that prevent the occurrence of the event of interest may be present. In the presence of competing events, various statistical estimands have been suggested for defining the causal effect of treatment on the event of interest. Depending on the estimand, the competing events are either accommodated (total effects) or eliminated (direct effects), resulting in causal effects with different interpretation. Separable effects can also be defined for settings where the treatment effect can be partitioned into its effect on the event of interest and its effect on the competing event through different causal pathways. We outline various causal effects of interest in the presence of competing events, including total, direct and separable effects, and describe how to obtain estimates using regression standardisation with the Stata command standsurv. Regression standardisation is applied by obtaining the average of individual estimates across all individuals in a study population after fitting a survival model. standsurv supports several models including flexible parametric models. With standsurv several contrasts can be calculated: differences, ratios and other user-defined functions. Confidence intervals are obtained using the delta method. Throughout we use an example analysing a publicly available dataset on prostate cancer. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:5&r= |
| By: | Diaz-Bonilla, Eugenio; Flores, Luis; Paz, Flor; Piñeiro, Valeria; Zandstra, Tamsin |
| Abstract: | Amid concerns about the beginning of the COVID-19 pandemic, Guatemala, in January 2020 decreed travel bans from China, which were later expanded to other countries. The country had the first confirmed COVID-19 case on March 13 and the first death on March 15. Some days before that, on March 5, the government had declared a “state of calamity†(Declaración del Estado de Calamidad Pública - Decreto Gubernativo Número 5-2020), which allowed the government to limit some activities,1 and to take different actions2 to protect the health and safety of all persons in Guatemala. This document updates a previous report (Díaz Bonilla, Laborde and Piñeiro, 2021) on the impact of the COVID-19 pandemic on food systems in Guatemala. First, it brings up to date the evolution of the pandemic, using different indicators. Second, it summarizes the main policy responses, costs, and financing. Third, it updates the evolution of key economic and nutritional variables up to the time of this writing (June, 2021). Fourth, there is a more detailed analysis of the evolution of some food value chains that are central for food consumption in Guatemala. Fifth, main results for 2021 and 2022 of previous modeling work are briefly presented. A final section discusses policy considerations in light of the updated analysis. |
| Keywords: | LATIN AMERICA, GUATEMALA, CENTRAL AMERICA, NORTH AMERICA, Coronavirus, coronavirus disease, Coronavirinae, COVID-19, policies, health, social protection, employment, nutrition, value chains, governance, pandemics, food security, social safety nets, food value chains |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:lacwps:21&r= |
| By: | Wioleta Kucharska (Gdansk University of Technology, Gdansk, Poland) |
| Abstract: | Purpose: This study aims to present the overview of intellectual capital creation micro-mechanisms concerning formal and informal knowledge processes. The organizational culture, transformational leadership, and innovativeness are also included in the investigation as ascendants and consequences of the focal relation of intellectual capital and knowledge processes. Method: The empirical model was developed using the structural equation modeling (SEM) method based on a sample of 1,418 Polish knowledge workers employed in the construction, healthcare, higher education (HE), and information technology (IT) industries. Findings: The study exposes that the essence of transformational leadership innovativeness oriented is developing all intellectual capital components. To do so, leaders must support both formal and informal knowledge processes through the organizational culture of knowledge and learning. Furthermore, for best results of the knowledge transformation into intellectual capital, the learning culture must be shaped by both components: learning climate and acceptance of mistakes. Originality: This study presents the "big picture" of all intellectual capital creation micro- mechanisms linking transformational leadership with organizational innovativeness and explains the "knowledge paradox" identified by Mabey and Zhao (2017). This explanation assumes that intellectual capital components are created informally (i.e., human, and relational ones) and formally (i.e., structural ones). Therefore, for best effects, both formal and informal knowledge processes must be supported. Furthermore, this study exposes that the intensity of all explored micro-mechanisms is industry-specific. Implications: Presented findings can be directly applied to organizations to enhance innovativeness. Namely, leaders who observe that the more knowledge is formally managed in their organizations, the less effective the knowledge exchange is - should put more effort into supporting informal knowledge processes to develop human and relational intellectual capital components smoothly. Shortly, leaders need to implement an authentic learning culture, including the mistakes acceptance component, to use the full organizational potential to achieve intellectual capital growth. Intellectual capital growth is essential for innovativeness. |
| Keywords: | learning culture, knowledge culture, transformational leadership, innovations, intellectual capital, tacit knowledge, knowledge processes, healthcare industry, higher education, IT industry, construction industry, gender studies |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:gdk:wpaper:65&r= |
| By: | Rodrigo Barra Novoa (Universidad de Tarapaca) |
| Abstract: | Like other Latin American countries, Chile depends heavily on the activity of small and medium-sized companies to sustain some macro and microeconomic indicators. In particular, one of the productive development agencies that has taken a leading role in this objective is the Technical Cooperation Service (SERCOTEC). This institution has defined a set of support programs in different areas in order to meet the needs of this business segment. In this context, the article provides an overview of institutional learning, lessons learned, and economic impacts obtained by the Business Development Centers program, describing the central role of this innovative public policy that has responded actively and efficiently to the growth of the ventures and companies assisted between the years 2015-2019. |
| Abstract: | Comme d'autres pays d'Amérique latine, le Chili dépend fortement de l'activité des petites et moyennes entreprises pour maintenir certains indicateurs macro et microéconomiques. En particulier, l'une des agences de développement productif qui a joué un rôle de premier plan dans cet objectif est le Service de coopération technique (SERCOTEC). Cette institution a défini un ensemble de programmes de soutien dans différents domaines afin de répondre aux besoins de ce segment d'entreprises. Dans ce contexte, l'article donne un aperçu de l'apprentissage institutionnel, des leçons apprises et des impacts économiques obtenus par le programme des Centres de développement des entreprises, en décrivant le rôle central de cette politique publique innovante qui a répondu activement et efficacement à la croissance des entreprises et des sociétés aidées entre les années 2015-2019. |
| Date: | 2021–05–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03332971&r= |
| By: | Mockshell, Jonathan; Asante-Addo, Collins; Andam, Kwaw S.; Asante, Felix A. |
| Abstract: | The triple burden of malnutrition is growing in low- and middle-income countries (LMICs). Increasing access to affordable ultra-processed foods in the food environment is contributing to this problem. While existing explanations for this triple burden of malnutrition have examined demand-side factors of food choices, the supply-side policies relating to the food environment drivers, ideas and actors’ interests have been neglected. Using a case study of Ghana, this analysis combines the Advocacy Coalition Framework with the narrative policy analysis to unpack the supply-side food environment policies and actors driving the triple burden of malnutrition. Applying a mixed methods analysis of the transcripts, the narratives reveal public, private and civil society organization (CSO) coalitions with different ideas and interests in the food environment. In the private sector coalition, food companies engage in aggressive advertising and are driven by profit motives – leading to the supply of more ultra-processed foods. The public sector is failing to regulate the market because of inadequate policies, limited institutional capacities and coordination, enforcement challenges, inadequate resources, and self-interest. Social activism by CSOs, for example, pressuring food companies to deliver healthy foods and holding the government accountable, is also lacking. The result is a triple sector (public, private and CSO) failure in the urban food environment with consequences on the availability of ultra-processed foods. This has long-lasting implications for the reduction of the triple burden of malnutrition and the achievement of zero hunger. To accelerate nutrition-sensitive food environments that deliver healthier food options, we argue that it is critical to entertain the ideas and interests of stakeholders and implement food environment policies that cover private and public sector initiatives, as well as increase consumer awareness. |
| Keywords: | GHANA; WEST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; nutrition; malnutrition; ultraprocessed foods; food environment; civil society organizations; urban areas; governance; policies; nutrition-sensitive; political economy |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2038&r= |
| By: | María T. González-Pérez (Banco de España) |
| Abstract: | This paper estimates the volatility index term structure for the Spanish bank industry (SBVX) using the implied volatility of individual banks and assuming market correlation risk premium. This methodology enables calculating a volatility index for arbitrary (non-traded) portfolios. Using data from 2015 to 2021, we find that SBVX informs about the dynamics of bank returns beyond the standard market volatility index VIBEX, especially when bank returns are negative; and that one-year SBVX beats shorter maturities in explaining bank returns. On the other hand, positive bank returns relate to the dynamics of VIBEX just as much as SBVX, which aligns with the belief that a drop in global volatility (uncertainty) positively affects firm performance and, therefore, bank value projections. We find one-month SBVX better than VIBEX to forecast monthly bank returns volatility, regardless of the tenor we use to compute VIBEX. This paper provides empirical evidence that idiosyncratic implied volatility is just as significant, or even more than global volatility, to monitor current and future banks’ share price performance. We advise using SBVX term structure, short-term VIBEX, and market correlation risk premium to monitor uncertainty and returns in the banking sector and foresee periods of stress in this industry. Our results may be of great interest to those seeking to estimate the banking sector’s sensitivity to uncertainty, volatility, and risk. |
| Keywords: | volatility term-structure, implied volatility, risk |
| JEL: | G53 G1 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2128&r= |
| By: | Diaz-Bonilla, Eugenio; Flores, Luis; Paz, Flor; Piñeiro, Valeria; Zandstra, Tamsin |
| Abstract: | Due to the global pandemic generated by COVID-19 the government of Honduras declared a “state of emergency†in February (“Estado de Emergencia en el Territorio Nacional a través del Decreto Ejecu-tivo Número PCM- 005-2020, 10 de febrero 2020). The country suffered the first confirmed COVID-19 case on March 12th, 2020. The first death was registered on March 26, 2020. This document updates a previous report (Díaz Bonilla, Laborde, and Piñeiro, 2021) on the impact of the COVID-19 pandemic on food systems in Honduras. First, it brings up to date the evolution of the pandemic, using different indicators. Second, it summarizes the main policy responses, costs, and fi-nancing. Third, it updates the evolution of key variables up to the time of this writing (June 2021). Fourth, there is a more detailed analysis of the evolution of some food value chains that are central for food consumption in Honduras. Fifth, main results for 2021 and 2022 of previous modeling work are briefly presented. A final section discusses policy considerations in light of the updated analysis. |
| Keywords: | LATIN AMERICA, HONDURAS, CENTRAL AMERICA, Coronavirus, coronavirus disease, Coronavirinae, COVID-19, policies, health, social protection, employment, nutrition, value chains, governance, pandemics, food security, social safety nets, food value chains |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:lacwps:22&r= |
| By: | Simplice A. Asongu (Yaounde, Cameroon); Yann Nounamo (University of Douala, Cameroon); Henri Njangang (University of Dschang , Cameroon); Sosson Tadadjeu (University of Dschang , Cameroon) |
| Abstract: | The study examines how financial stability modulates the effect of inclusive intermediary education on female employment in the industry for the period 2008-2018 in Sub-Saharan Africa. The empirical evidence is based on Tobit, Ordinary Least Squares (OLS) and Quantile regressions. There are positive interactive or conditional effects between inclusive intermediary education and financial stability in the Tobit, OLS and bottom quantiles estimations. A net positive (negative) effect is apparent in the 10 th quantitle (median) of female employment in the industry distribution. Implications are discussed. |
| Keywords: | inclusive education; financial sustainability, gender economic inclusion |
| JEL: | E23 F21 F30 L96 O55 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:aak:wpaper:21/003&r= |
| By: | Oliver, Adam |
| Abstract: | In a previously published article, I reported some tests of prospect theory’s reflection effect over outcomes defined by money and life years gained from treatment. Those results suggested qualified support for the reflection effect over money outcomes and strong support over longevity outcomes. This article reruns those tests while accounting for the intensity of individual risk attitudes, and, overall, show consistency with the reflection effect. However, I argue that these results do not necessarily offer support for the explanatory power of prospect theory. Rather, the results may be driven by evolved responses to circumstances that provoke perceptions of scarcity and abundance. Therefore, from an ecological perspective, behavioural patterns such as those that are consistent with the reflection effect, which, by extension, tend to be considered as erroneous or biased by most behavioural economists because they conflict with the postulates of rational choice theory, may not be unreasonable. Recognising as such is important when considering how behavioural insights ought to inform public policy design and implementation. |
| Keywords: | expected utility theory; prospect theory; reflection effect; risk intensity; risk sensitivity theory |
| JEL: | J1 |
| Date: | 2021–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111906&r= |
| By: | Lennart Ziegler |
| Abstract: | This study provides new evidence on skill requirements in the labor market and shows to what extent these skills are associated with higher wage offers. Using more than 380,000 job postings published on Austria’s major employment website, I identify the most common skill requirements mentioned in job descriptions. Because employers in Austria are legally required to state the minimum remuneration for advertised positions, I can relate the skill content of jobs to offered wages using ad-level variation. Accounting for education, work experience, and firm and occupation fixed-effects, there exists a robust association between the number of skill requirements and wage offers. In particular, job ads with many skill requirements offer substantially higher wages. While I estimate large effects for managerial and analytical skills, associations with most soft skills are small. Overall, the analysis shows that skill requirements listed in online job ads can offer important insights on skill demand and skill wages differentials. |
| JEL: | J23 J24 J31 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:vie:viennp:vie2002&r= |
| By: | Cristian Grozea; Ronny Hans; Matthias Koch; Christina Riehn; Armin Wolf |
| Abstract: | We developed and compared Constraint Programming (CP) and Quantum Annealing (QA) approaches for rolling stock optimisation considering necessary maintenance tasks. To deal with such problems in CP we investigated specialised pruning rules and implemented them in a global constraint. For the QA approach, we developed quadratic unconstrained binary optimisation (QUBO) models. For testing, we use data sets based on real data from Deutsche Bahn and run the QA approach on real quantum computers from D-Wave. Classical computers are used to run the CP approach as well as tabu search for the QUBO models. We find that both approaches tend at the current development stage of the physical quantum annealers to produce comparable results, with the caveat that QUBO does not always guarantee that the maintenance constraints hold, which we fix by adjusting the QUBO model in preprocessing, based on how close the trains are to a maintenance threshold distance. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07212&r= |
| By: | María Alejandra Chávez Báez |
| Abstract: | This paper examines how trust on institutions and organizations are shaped according to age and exposure to violence during La Violencia. It also evaluates how people's actual trust on different groups (out-group trust) changes in municipalities that were exposed to violence in comparison to municipalities that were not exposed. From 1950's to the mid 1960's, Colombia experienced a period of intense civil wars and conflicts between social classes known as La Violencia. Using evidence on the index of violence built by Guzman et al. (2006) during this period and the Political Culture Survey of 2019, the main objective of this paper is to find whether people trust on State's institutions and people from different groups in municipalities that were mostly affected by violence. To complement the analysis, I analyzed press articles and news by the newspaper El Tiempo from 1950 to 1990 to find how is the perception of the State's legitimacy. After gathering information on 13,413 interviewees, I found that people who live during La Violencia trust less on government institutions and more on certain groups of people (neighbours). Moreover, people over 84 years-old living in municipalities that were exposed to La Violencia trust less on strangers and immigrants than younger people living in the same municipalities. These findings are supported in two mechanisms: deficient government-citizens relationship over time and risk aversion. That is, people who live in municipalities affected by violence during the bipartisan conflict are more risk averse and therefore show less trust on different groups of people. The revision of press articles suggest that there is a tendency of mistrust on State's actions, at least among high educated individuals. |
| Keywords: | mistrust, violence, institutions, political participation, out-group trust |
| JEL: | N30 N36 N46 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019558&r= |
| By: | Beau Soederhuizen (CPB Netherlands Bureau for Economic Policy Analysis); Bert Kramer (CPB Netherlands Bureau for Economic Policy Analysis); Harro van Heuvelen (CPB Netherlands Bureau for Economic Policy Analysis); Rob Luginbuhl (CPB Netherlands Bureau for Economic Policy Analysis) |
| Abstract: | Capital buffers help banks to absorb financial shocks. This reduces the risk of a banking crisis. However, on the other hand capital requirements for banks can also lead to social costs, as rising financing costs can lead to higher interest rates for customers. In this research we make an exploratory analysis of the costs and benefits of capital buffers for groups of European countries. In this study, we estimate the optimal level of capital for banks in the euro area. As far as we know, we are the first to investigate this for the euro area. The optimal level results from a trade-off between the social costs and benefits of capital requirements. Depending on technical assumptions, we find an optimal capital buffer between 15 and 30 percent. Despite this considerable spread, the estimated optimum is in all cases higher than the current minimum requirements of Basel III. We also find significant heterogeneity in the optimum between euro area Member States. For Member States with a more stable economy and a banking sector that can easily attract funding we find lower optimal capital ratios. |
| JEL: | C33 C54 E44 G15 G21 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cpb:discus:429&r= |
| By: | Beddock, Arthur (Tilburg University, School of Economics and Management) |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:eeaf2925-4cc0-4fe1-8008-6a8830442ff2&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This research was conducted in Giri Purno Village, Rimbo Ilir District, Tebo Regency. The location of the research will be carried out in Giri Purno Village, Rimbo Ilir District, Tebo Regency. This location was chosen "purposively" that is intentionally. Considering the condition of the area which shows the low level of women's participation in the development of Giri Purno Village in terms of village consultations, formulation, planning and implementation of development. The method used in this study is a descriptive method with a qualitative approach, which intends to find out and get an overview of the problems that occur at a certain place and time. Forms of Women's Participation in the Development Process of Giri Purno Village, Rimbo Ilir District, include: 1. Non-Physical Participation (Ideas / Thoughts) and 2. Participation in the Form of Energy. Factors Encouraging Women's Participation in the Giri Purno Village Development Process: Awareness / Willing Factors, Educational Factors, Income factor / Income. The inhibiting factors for women's participation in the development of Giri Purno Village include the busyness of women, lack of communication and external factors, namely the government leadership factor. |
| Date: | 2021–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:xqep5&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This study aims to determine and analyze the picture of the implementation of the role and oversight of the implementation of regional government affairs conducted by the Inspectorate of Deli Serdang and constraints faced by local governments in Deli Serdang Region. This research use descriptive method with qualitative approach technically, to illustrate the operational activities and the play is carried out by the inspectorate of Deli Serdang. Thus the data source is the people or individuals who fully understand the problems studied and formally involved in the regulatory process. The results concludes that the supervisory role through internal audits of the implementation of regional government affairs in Deli Serdang by District Inspectorate has been implemented properly. However there are also some disadvantages which become information for planning improvements in the supervision of the future. Within the framework of optimizing the role and function as an internal auditor, Deli Serdang District Inspectorate is still experiencing constraints such as human resource constraints, Operational Standards and the constraints that have not been going well. |
| Date: | 2021–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:d7pjb&r= |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | This price bulletin was developed by researchers at IFPRI Malawi with the goal of providing clear and accurate information on the variation of weekly retail prices of selected agricultural commodities that are important for food security and nutrition in Malawi. The reports are intended as a resource for those interested in agricultural markets in Malawi. |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, food prices, legumes, roots, tubers, cereals, prices, agricultural products, markets, food security, nutrition |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspb:9a&r= |
| By: | Hermes, Henning (NHH Bergen,Norway); Lergetporer, Philipp (Ifo Institute for Economic Research); Peter, Frauke (DIW Berlin); Wiederhold, Simon (Ifo Institute for Economic Research) |
| Abstract: | Children with lower socioeconomic status (SES) tend to benefit more from early child care, but are substantially less likely to be enrolled. We study whether reducing behavioral barriers in the application process increases enrollment in child care for lower-SES children. In our RCT in Germany with highly subsidized child care (n > 600), treated families receive application information and personal assistance for applications. For lower-SES families, the treatment increases child care application rates by 21 pp and enrollment rates by 16 pp. Higher-SES families are not affected by the treatment. Thus, alleviating behavioral barriers closes half of the SES gap in early child care enrollment. |
| Keywords: | child care, early childhood, behavioral barriers, information, educational inequality, randomized controlled trial |
| JEL: | I21 J13 J18 J24 C93 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14698&r= |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | This price bulletin was developed by researchers at IFPRI Malawi with the goal of providing clear and accurate information on the variation of weekly retail prices of selected agricultural commodities that are important for food security and nutrition in Malawi. The reports are intended as a resource for those interested in agricultural markets in Malawi. |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, food prices, legumes, roots, tubers, cereals, prices, agricultural products, markets, food security, nutrition |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspb:8a&r= |
| By: | Isabella M Weber (Department of Economics and Political Economy Research Institute, University of Massachusetts Amherst); Gregor Semieniuk (Political Economy Research Institute and Department of Economics, University of Massachusetts Amherst); Tom Westland (Department of History, University of Cambridge); Junshang Liang (Department of Economics, University of Massachusetts Amherst) |
| Abstract: | Does what you exported matter? We build a new global commodity-level export database for the previous era of globalization and find persistence in productive capabilities proxied by economic complexity, export diversification, and sophistication across a century. We also show that productive capabilities at the turn of the 20th century are a powerful predictor of today’s income levels. We demonstrate that our results are not driven by persistence in geography or institutions. The persistence mechanism is the complementarity between past and future productive capabilities with one important qualification, the persistent negative effect of European overseas colonization. We also study shocks that undermined persistence, confirm the resource curse hypothesis for the long run and find a positive but slow effect of democratization. |
| JEL: | F14 F63 N10 O10 O50 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-02&r= |
| By: | Yang, Seungmi; Kwon, Youngsun |
| Abstract: | This paper aims to examine how two recent external shocks-the Covid-19 pandemic and 5G services-are transforming online shopping submarkets in Korea by estimating the effects of these two shocks on mobile shopping sales and conversion, which refers to substitution for shopping over fixed internet (termed internet shopping). Key findings are: Covid-19 boosted sales in 14 mobile shopping submarkets and decreased sales in two submarkets; 5G services also helped sales increases in 13 submarkets, while mobile technologies altogether contributed to sales increases in 14 submarkets; and mobile shopping conversions in online shopping submarkets have been driven mostly by mobile technologies, including 5G, and not by Covid-19. |
| Keywords: | Covid-19,5G,Mobile,Online,Shopping,Conversion |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238061&r= |
| By: | Thomas Paris (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique); David Massé (i3-CRG - Centre de recherche en gestion i3 - X - École polytechnique - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Management et création… Le bel oxymore ! L'association de ces termes heurte nos conceptions, car elle renvoie spontanément aux idées d'un côté de standardisation, de stabilité, de contrôle, et de l'autre de singularité, de transgression ou d'incertitude. Cette opposition sémantique ne peut cependant pas masquer que ces univers cohabitent et se sont rapprochés, notamment depuis l'introduction du terme de creative industries 1 par Richard Caves (2000) et des recherchesnombreuses, mais fragmentéesqui se sont attachées à mieux comprendre l'organisation et le management de ces industries dans une grande variété d'approches théoriques et méthodologiques. Cet article introductif entend affirmer ou réaffirmer la pertinence de la catégorie d'« industries créatives » vis-à-vis des recherches en management. Il développe l'idée que les entreprises qui évoluent dans ces industries font face à un paradigme managérial idiosyncratique qui repose sur trois spécificités structurantes : différenciation par l'originalité, abondance, subjectivité du créateur. La catégorie est pertinente, et des secteurs qui peuvent paraître aux antipodes les uns des autresjeu vidéo et parfum, grande cuisine et musique, édition et mode, spectacle vivant et architecture…-ont un ADN commun. Que la catégorie soit pertinente ne doit pas occulter pour autant sa variété. Elle apparaît, dans l'énumération qui vient d'être faite, dans les modes de diffusion et dans les matériaux de création, qui structurent cette agrégation d'industries. Elle se manifeste autour de deux autres lignes de faille. D'une part, si ces entreprises s'inscrivent dans un paradigme managérial spécifique, elles le font de manière plus ou moins volontariste, plus ou moins consciente, donnant lieu au sein de ces industries à des « mondes opposés » qui peuvent avoir tendance à se polariser. D'autre part, même si l'on retrouve un |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03327529&r= |
| By: | Miyako Ikeda; Alfonso Echazarra |
| Abstract: | Most students have the beliefs and dispositions to help them cope and learn in challenging situations. The current pandemic has been ongoing since early 2020. This has affected ways in which teaching and learning are organised. Schools have had to provide education in different ways from the past. A special survey conducted as a collaborative effort between the OECD, UNESCO, UNICEF and the World Bank showed that upper-secondary schools were fully closed for over 65 days in 2020 on average across OECD countries with available data. The special survey also showed that where school closures were needed many countries made major efforts to mitigate their impact on students, focusing especially on vulnerable students by providing remedial measures to reduce students’ learning gaps. Despite these efforts, recently released studies have shown that learning loss during the pandemic was most pronounced among socio-economically disadvantaged students and schools. |
| Date: | 2021–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduddd:114-en&r= |
| By: | Hwang, ShinYoung |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238030&r= |
| By: | Nguyen, Minh-Hoang |
| Abstract: | Data collection is the process of gathering and measuring information on targeted variables in an established system, which then enables one to answer relevant questions and evaluate outcomes. Data collection is a research component in all study fields, including physical and social sciences, humanities,[2] and business. While methods vary by discipline, the emphasis on ensuring accurate and honest collection remains the same. The goal for all data collection is to capture quality evidence that allows analysis to lead to the formulation of convincing and credible answers to the questions that have been posed. ***** For archiving purpose only ***** |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:3gpy4&r= |
| By: | Luis V. M. Freitas; Wilfredo L. Maldonado |
| Abstract: | A recently proposed mechanism for the provision of continuous public goods is the so-called quadratic funding mechanism, which has been shown to provide socially optimal outcomes under complete information. In this work we show that the conditions to obtain the same desirable property under incomplete information are strongly restrictive. We also propose two measures for the size of the inefficiency and show how that deadweight loss responds to changes in the size of the population, the valuation of the public good by individuals and the variance of the expected value of contributions to the fund. |
| Keywords: | Public goods provision; incomplete information; quadratic funding mechanism |
| JEL: | C72 D82 H41 |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:spa:wpaper:2021wpecon24&r= |
| By: | Abdel Sater, Rita; Perona, Mathieu (CEPREMAP); huillery, elise; Chevallier, Coralie |
| Abstract: | While indoor air pollution is one of the leading causes of morbidity and mortality worldwide, its sources and impacts are largely misunderstood by the public. In a randomized controlled trial including 281 households in France, we test two interventions aimed at raising households' awareness of indoor pollutants and ultimately improving indoor air quality. While both generic and personalised information increase awareness, only personalised information is successful in shifting behaviour and decreasing indoor air pollution - by 20% compared to the control group. Heterogeneous treatment effects show that this effect is concentrated on the most polluted households at baseline. |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:kw3tn&r= |
| By: | Camilo A. Cepeda-Francese (El Colegio de México); Aurora A. Ramírez-Álvarez (El Colegio de México) |
| Abstract: | This paper assesses how the adoption of a common-law style model affects crime rates, pre-trial detention, and judicial efficiency measures. We do this in the context of Mexico, where a judicial reform was fully implemented by 2016, both on the state and federal levels. Using a generalized synthetic control group approach (Xu, 2017) and municipality-level administrative data for the years 1997-2012, we find that the reform increased the homicide rate and was accompanied by a reduction in the use of pretrial detention for property crimes and rape, and a more rapid process for some types of crimes. The increase in the homicide rate was, nonetheless, specific to municipalities with established organized crime presence, where we observed a reduction in the capacity to effectively prosecute homicides linked to the reform. Our results describe the difficulties in implementing this kind of reform in developing countries experiencing security crises, and they contribute to the literature linking procedural justice and criminal behavior. |
| Keywords: | Crime, Criminal Justice Reform, Generalized Synthetic Control Group, Latin America |
| JEL: | K14 K40 K41 K42 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:emx:ceedoc:2021-06&r= |
| By: | Falch, Morten |
| Abstract: | This paper look at surveillance capitalism as described in the book by Shoshana Zubof, and discuss whether surveillance capitalism represents a new stage of capitalist development. This is done by using the theory of techno-economic paradigms as a theoretical framework. |
| Keywords: | Surveillance Capitalism,Techno-economic paradigm,artificial intelligence,big data |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238019&r= |
| By: | Marc S. Paolella (University of Zurich - Department of Banking and Finance; Swiss Finance Institute) |
| Abstract: | In light of the growing use, acceptance of, and demand for, machine learning in many fields, notably data science, but also other fields such as finance- and this in both industry and academics, some university departments might wish, or find themselves forced to, accord to the winds of change and address this pressing issue. The goal of this document is to assist in designing relevant courses using material at the appropriate mathematical level. It protocols, sorts, evaluates, and contrasts, numerous viable books for a variety of possible courses. The subjects span several levels of, and different avenues in, linear algebra and real analysis, with briefer discussions of material in probability theory and mathematical finance. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2165&r= |
| By: | Mahdi Ghodsi (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | In this modern digital world, goods from the information and communications technology (ICT) sector are the engine of the global economy. While tariffs levied on ICT goods have been eliminated or significantly reduced since the conclusion in December 1995 of the Information Technology Agreement of the World Trade Organization (WTO), non-tariff measure (NTMs) have come to be used more frequently with regard to imports of these goods. Technical barriers to trade (TBTs), as the most important trade policy measure imposed on imports of ICT goods, form the focus of this study. This paper analyses how different types of TBTs imposed on imports of ICT goods globally affected the values and volumes of imported goods at the six-digit level of the Harmonised System (HS) during the period 1996-2018. Keywords cited in the TBTs notified to the WTO give an indication of the aims behind the imposition of TBTs. Therefore, this study digs deeper into the impact of 30 types of TBT, using the keywords cited. The methodology used in this paper controls for zero trade flows using the Pseudo Poisson Maximum Likelihood (PPML) technique; and it controls for endogeneity bias using the exogenous instrumental variable approach. Furthermore, the paper provides more detailed analysis of the impact of TBTs across five ICT product categories that are defined by the United Nations Conference on Trade and Development (UNCTAD). The results indicate that TBTs have a generally strong positive impact on the value of imports of ICT goods. While many keywords cited in TBTs notified to the WTO affect the values and volumes of imports in a positive way, certain other TBTs function as trade barriers that reduce their values and volumes. |
| Keywords: | Information and communications technology, non-tariff measures, technical barrier to trade, World Trade Organization, Pseudo Poisson Maximum Likelihood |
| JEL: | F13 F14 L15 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:wii:wpaper:208&r= |
| By: | David Augusto Montoya Ruiz |
| Abstract: | Este documento analiza el impacto que tiene la política fiscal, a través de la fijación de impuestos, en la distribución del ingreso y cómo esta última afecta la transmisión de la política monetaria. Para entender este mecanismo, se propone un modelo neokeynesiano analítico de dos agentes en una economía con dos activos, restricciones de acceso a los mercados financieros e incertidumbre idiosincrática en donde el gobierno fija impuestos a los dividendos y al ingreso laboral. Se encuentra que el tipo de impuesto elegido por el gobierno afecta de forma diferenciada el comportamiento cíclico de la desigualdad en el ingreso. Cuando la desigualdad es procíclica con relación al ingreso agregado de la economía, se generan efectos de atenuación en la demanda agregada. Si es contracíclica, ello provoca efectos de amplificación. Esto obliga al banco central a ajustar su objetivo operativo de tasa de interés en una magnitud menor o mayor, respectivamente, con relación al Principio de Taylor para lograr la determinación del equilibrio. Se concluye que la política fiscal condiciona la política monetaria a través del tipo de esquema redistributivo adoptado. |
| Keywords: | desigualdad, política fiscal, política monetaria, redistribución, regla de Taylor. |
| JEL: | E21 E31 E43 E52 E58 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019560&r= |
| By: | Gerardo Ubilla-Bravo (Universidad de Chile. Facultad de Ciencias Agronómicas. Departamento de Gestión e Innovación Rural); Eduardo Chia (INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | En la problemática de esta investigación consideramos tres contextos: la centralización de la planificación territorial en Chile, la tradición de la regulación de las áreas urbanas y el proceso de periurbanización en la Región Metropolitana de Santiago. De este modo, el estudio se desarrolla en torno a la pregunta ¿Cómo se ha construido el espacio local periurbano mediante los instrumentos de regulación urbana de escala nacional, regional y local? Para responder a esta pregunta se analizan los instrumentos de regulación urbana en Chile considerando tres escalas geográficas (nacional, regional y comunal) desde 1972 hasta 2014. Entre los resultados se destaca el ‘efecto cascada' de la influencia de los instrumentos en las diferentes escalas geográficas, la propuesta de la noción ‘periurbano administrativo subcomunal' y la imposición de la visión centralista de los instrumentos urbanos durante cuarenta años, donde se constata que el nivel local no tiene incidencia en la construcción del periurbano. |
| Keywords: | centralization,urban regulation instruments,Metropolitan Region of Santiago,periurban,Chile,Centralización,periurbano,instrumentos de regulación urbana,Región Metropolitana de Santiago |
| Date: | 2021–07–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03330464&r= |
| By: | Elena Georgarakis; Thomas Bauwens; Anne-Marie Pronk; Tarek AlSkaif |
| Abstract: | While the potential for peer-to-peer electricity trading, where households trade surplus electricity with peers in a local energy market, is rapidly growing, the drivers of participation in this trading scheme have been understudied so far. In particular, there is a dearth of research on the role of non-monetary incentives for trading surplus electricity, despite their potentially important role. This paper presents the first discrete choice experiment conducted with prosumers (i.e. proactive households actively managing their electricity production and consumption) in the Netherlands. Electricity trading preferences are analyzed regarding economic, environmental, social and technological parameters, based on survey data (N = 74). The dimensions most valued by prosumers are the environmental and, to a lesser extent, economic dimensions, highlighting the key motivating roles of environmental factors. Furthermore, a majority of prosumers stated they would provide surplus electricity for free or for non-monetary compensations, especially to energy-poor households. These observed trends were more pronounced among members of energy cooperatives. This suggests that peer-to-peer energy trading can advance a socially just energy transition. Regarding policy recommendations, these findings point to the need for communicating environmental and economic benefits when marketing P2P electricity trading platforms and for technical designs enabling effortless and customizable transactions |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02452&r= |
| By: | W. Addessi; M. Delogu |
| Abstract: | In this paper, we study the optimal labor income taxation to finance infrastructure in developing countries characterized by high informality. We show that the presence of labor market segmentation, induced by a binding minimum wage, affects the optimal level of taxation/infrastructure and influences how the economy reacts to policy changes in terms of both the size of the informal sector and the income distribution among high- and low- skilled workers. |
| Keywords: | Infrastructure;Informality;Optimal Taxation;Development |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:cns:cnscwp:202103&r= |
| By: | D’Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; Weber, Michael |
| Abstract: | Many consumers below the top of the distribution of a representative population by cognitive abilities barely react to monetary and fiscal policies that aim to stimulate consumption and borrowing, even when they are financially unconstrained and despite substantial debt capacity. Differences in income, formal education levels, economic expectations, and a large set of registry-based demographics do not explain these facts. Heterogeneous cognitive abilities thus act as human frictions in the transmission of economic policies that operate through the household sector and might imply redistribution from low- to high-cognitive ability agents. We conclude by discussing how our findings inform the microfoundation of behavioral macroeconomic theory. |
| JEL: | D12 D84 D91 E21 E31 E32 E52 E65 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofrdp:2021_012&r= |
| By: | Henning Hermes; Philipp Lergetporer; Frauke Peter; Simon Wiederhold |
| Abstract: | Children with lower socioeconomic status (SES) tend to benefit more from early child care, but are substantially less likely to be enrolled. We study whether reducing behavioral barriers in the application process increases enrollment in child care for lower-SES children. In our RCT in Germany with highly subsidized child care (n > 600), treated families receive application information and personal assistance for applications. For lower-SES families, the treatment increases child care application rates by 21 pp and enrollment rates by 16 pp. Higher-SES families are not affected by the treatment. Thus, alleviating behavioral barriers closes half of the SES gap in early child care enrollment. |
| Keywords: | Child care, early childhood, behavioral barriers, information, educational inequality, randomized controlled trial |
| JEL: | I21 J13 J18 J24 C93 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1970&r= |
| By: | Amal Ahmad (Department of Economics, University of Massachusetts Amherst) |
| Abstract: | Information problems are pervasive in developing economies and can hinder pro- ductivity growth. This paper studies how much rural producers in developing countries can learn from their own experience to redress important informa- tion gaps. It builds a model of learning from experience and applies it using a rich dataset on cotton farmers in Pakistan. I test whether farmers learn from cultivation experience about the pest resistance of their seeds and use this in- formation to improve selection and productivity. I find no such learning effect and this conclusion is robust to several parameters that could signal learning. The findings document the difficulty of parsing out and processing information from cultivation experience alone and point to the importance of information provision to producers by the government or external agencies. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-03&r= |
| By: | Chen, Simiao; Jin, Zhangfeng; Vollmer, Sebastian; Bärnighausen, Till; David E. Bloom |
| Abstract: | This paper examines the causal impact of diagnostic efficiency on the COVID-19 pandemic in China. Using an instrumental variable approach, we show that a 1-day decrease in the time taken to confirm the first case in a city publicly led to 9.4% and 12.7% reductions in COVID-19 prevalence and mortality over the subsequent six months, respectively. The impact was larger for cities that are farther from the COVID-19 epicenter, are exposed to less migration, have more responsive public health systems, and have higher-capacity utilization of health systems. Social distancing and a less burdened health system are likely underlying mechanisms. |
| Keywords: | Diagnostic Efficiency,Information Disclosure,Social Distancing,COVID-19,China |
| JEL: | I18 D83 H75 I12 J61 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:931&r= |
| By: | Ludmila Matysková; Alfonso Montes |
| Abstract: | A sender choosing a signal to be disclosed to a receiver can often in fluence the receiver's actions. Is persuasion harder when the receiver has additional information sources? Does the receiver benefit from having them? We extend Bayesian persuasion to a receiver's acquisition of costly information. The game can be solved as a standard Bayesian persuasion under an additional constraint - the receiver never learns. The `threat' of learning hurts the sender. However, the outcome can also be worse for the receiver, in which case the receiver's possibility to gather additional information decreases social welfare. Furthermore, we propose a new solution method that does not rely directly on concavification, which is also applicable to standard Bayesian persuasion. |
| Keywords: | Bayesian persuasion, Rational inattention, Costly information acquisition, Information design |
| JEL: | D72 D81 D82 D83 |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2021_296&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | The year-end report from the Market Management and Hygiene Service stated that user fees from the market are one of the local revenue sources that generate the most user fees. However, in achieving its realization, it is very difficult to achieve, this can be seen from the receipt of the Bungur Bungur market levy for the last 2 years. This paper aims to explore why there is an increase in retribution arrears. The method used in this study is a descriptive method with a qualitative approach. Selection of informants using "purposive sampling". The results of the study found that the efforts made by the Department of Market Management and Hygiene of Bungo Regency in overcoming the high arrears of levies were by massively socializing and empowering the relevant local government apparatus in collecting retribution. |
| Date: | 2021–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:qc27x&r= |
| By: | De Donder, Philippe; Achou, Bertrand; Glenzer, Franca; Lee, Minjoon; Leroux, Marie-Louise |
| Abstract: | COVID-19 outbreaks at nursing homes during the recent pandemic, which received ample media coverage, may have lasting negative impacts on individuals’ perceptions regarding ursing homes. We argue that this could have sizable and persistent implications for savings and long-term care policies. We first develop a theoretical model predicting that higher nurs- ing home aversion should induce higher savings and stronger support for policies subsidizing home care. We further document, based on a survey on Canadians in their 50s and 60s, that higher nursing home aversion is widespread: 72% of respondents are less inclined to enter a nursing home because of the pandemic. Consistent with our model, we find that the latter are much more likely to have higher intended savings for older age because of the pandemic. We also find that they are more likely to strongly support home care subsidies. |
| Keywords: | Pandemic Risk; Nursing Home; Long-Term Care; Savings; Public Policy |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:125934&r= |
| By: | Daniel Alonso (Banco de España); Alejandro Buesa (Banco de España); Carlos Moreno (Banco de España); Susana Párraga (Banco de España); Francesca Viani (Banco de España) |
| Abstract: | The persistence of the health crisis made it necessary for the main advanced economies to approve fresh fiscal measures or extend the terms of those that expired. This paper summarises the main actions taken since autumn 2020 in the main euro area economies (Germany, France, Italy and Spain), the United States and the United Kingdom, supplementing a previous paper (Cuadro-Sáez et al. (2020)) that focused on the measures approved in the first half of 2020. Also, the actions taken within the State aid temporary framework, adopted by the European Commission to provide direct support to the most affected firms and to limit trade and competition distortions in the internal market, are detailed. This set of actions has helped to mitigate the risks associated with an early withdrawal of fiscal stimulus. Notable among the new measures adopted is the additional support for firms in European countries, the direct assistance to households in the United States and the new employment support provisions in the United Kingdom. |
| Keywords: | health crisis, fiscal policy, State aid, grants, public loan guarantees, short-time work schemes |
| JEL: | E62 E65 H00 H81 J08 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:opaper:2118e&r= |
| By: | Christiane Baumeister (University of Notre Dame, University of Pretoria, NBER and CEPR); Danilo Leiva-León (Banco de España); Eric Sims (University of Notre Dame and NBER) |
| Abstract: | In this paper, we develop a novel dataset of weekly economic conditions indices for the 50 U.S. states going back to 1987 based on mixed-frequency dynamic factor models with weekly, monthly, and quarterly variables that cover multiple dimensions of state economies. We show that there is considerable heterogeneity in the length, depth, and timing of business cycles across individual states. We assess the role of states in national recessions and propose an aggregate indicator that allows us to gauge the overall weakness of the U.S. economy. We also illustrate the usefulness of these state-level indices for quantifying the main forces contributing to the economic collapse caused by the COVID-19 pandemic and for evaluating the effectiveness of federal economic policies like the Paycheck Protection Program. |
| Keywords: | local economic conditions, government policies, weekly indicators, state economies, cross-state heterogeneity, mixed-frequency dynamic factor model, economic weakness index, Markov-switching, recession probabilities |
| JEL: | C32 C55 E32 E66 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2134&r= |
| By: | Irma Alonso (Banco de España); Pedro Serrano (Universidad Carlos III de Madrid); Antoni Vaello-Sebastià (Universitat des Illes Balears) |
| Abstract: | This article analyzes the impact of the unconventional monetary policies (UMPs) of four major central banks (the Fed, ECB, BoE and BOJ) on the probability of future market crashes. We exploit the heterogeneity of different UMP actions to disentangle their influence on reducing the ex ante perception of extreme events (tail risks) using the information contained in risk-neutral densities from the most liquid stock index options. The empirical findings show that the announcement of UMPs reduces the risk-neutral probability of extreme events across various horizons and thresholds, supporting the hypothesis of the risk-taking channel. Interestingly, foreign UMP actions also prove to be significant variables affecting domestic tail risks, mainly at longer horizons. These results reveal a cross-border effect of foreign UMPs on domestic tail risks. Finally, the dynamics of the UMPs are captured by a structural model that confirms a transitory impact of UMPs on market tail risk perceptions. |
| Keywords: | unconventional monetary policy, risk-neutral density, tail risk, event study, SVAR |
| JEL: | E44 E58 G01 G10 G14 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2127&r= |
| By: | Burchardt, Tania; Steele, Fiona; Grundy, Emily; Karagiannaki, Eleni; Kuha, Jouni; Moustaki, Irini; Skinner, Chris; Zhang, Nina; Zhang, Siliang |
| Abstract: | Families extend well beyond households. In particular, connections between parents and their adult offspring are often close and sustained, and transfers may include financial assistance, practical support, or both, provided by either generation to the other. Yet this major engine of welfare production, distribution, and redistribution has only recently become the focus of research. Who are the beneficiaries and to what extent are the patterns of exchange socially stratified? This article discusses findings from a programme of research analysing data from two nationally representative longitudinal studies, the British Household Panel Study and its successor Understanding Society, which record help given by, and received by, respondents through exchanges with their non-coresident parents and offspring in the UK. Some families exhibit a high tendency to provide mutual support between generations; these tendencies persist over time. Financial and practical support are generally complementary rather than substitutes. Longer travel time between parents and their offspring makes the provision of practical help less likely, whilst social class, social mobility, and ethnicity exhibit complex patterns of association with intergenerational exchanges. The resulting conclusion is that exchanges within families are an important complement to formal welfare institutions in the UK and that social policies should be designed to work with the grain of existing patterns of exchange, enabling family members to continue to provide help to one another, but ensuring that those who are less well supported by intergenerational assistance can access effective social protection. |
| Keywords: | intergenerational exchange; financial transfers; care; social class; ethnicity; reciprocity; ES/P000118/1; ES/L009153/1 |
| JEL: | I30 |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111868&r= |
| By: | Leila Davis (Department of Economics, University of Massachusetts Boston); Joao de Souza (Department of Economics, University of Massachusetts Boston) |
| Abstract: | This paper establishes that entry and exit regulate the top half of the profitability distribution in the post-1970 U.S. economy. We, first, document stability in the distribution of total profits earned on tangible, intangible, and financial capital. Whereas a narrower measure of returns on tangible capital, instead, suggests rising dispersion, it fails to capture post-1970 growth in intangible and financial assets. Second, we use quantile decompositions to show that churning – specifically, exit for cause – regulates median and top-end profitability. Thus, the process by which competition drives out unprofitable firms acts to stabilize profit rates in the U.S. economy. |
| Keywords: | Profit rates, competition, entry and exit dynamics |
| JEL: | B5 L1 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-06&r= |
| By: | Philipp Chapkovski (National Research University Higher School of Economics, Russian Federation); Luca Corazzini (Department of Economics, University Of Venice CÃ Foscari); Valeria Maggian (Department of Economics, University Of Venice CÃ Foscari) |
| Abstract: | Whistleblowing is a powerful and rather inexpensive instrument to contrast tax evasion. Despite the deterrent effects on tax evasion, whistleblowing can reduce trust and undermine agents’ attitude to cooperate with group members. Yet, no study has investigated the potential spillover effects of whistleblowing on ingroup cooperation. This paper reports results of a laboratory experiment in which subjects participate in two consecutive phases in unchanging groups: a tax evasion game, followed by a generalized gift exchange game. Two dimensions are manipulated in our experiment: the inclusion of a whistleblowing stage in which, after observing others’ declared incomes, subjects can signal other group members to the tax authority, and the provision of information about the content of the second phase before the tax evasion game is played. Our results show that whistleblowing is effective in both curbing tax evasion and improving the precision of tax auditing. Moreover, we detect no statistically significant spillover effects of whistleblowing on ingroup cooperation in the subsequent generalized gift exchange game, with this result being unaffected by the provision of information about the experimental task in the second phase. Finally, the provision of information does not significantly alter subjects’ (tax and whistleblowing) choices in the tax evasion game: thus, knowledge about perspective ingroup cooperation did not alter attitude towards whistleblowing. |
| Keywords: | Tax evasion, whistleblowing, ingroup cooperation, spillover effects, laboratory experiment |
| JEL: | H26 C90 D02 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ven:wpaper:2021:20&r= |
| By: | Brummund, Peter (University of Alabama); Merfeld, Joshua D. (KDI School of Public Policy and Management) |
| Abstract: | According to standard economic theory, households should equate the marginal revenue product of an input across activities within the household. However, this prediction may not hold in the presence of risk. Using data on farm plots and non-farm enterprises in Malawi, we examine the impact of risk on the allocation decisions of agricultural households as they allocate labor across farm and non-farm production. We control for many household and production characteristics, including household fixed effects, and find farm marginal revenue product of labor (MRPL) to be consistently higher than non-farm MRPL. These results hold when restricting estimation to periods of high and low non-farm labor allocation. These results are consistent with farm production being riskier than non-farm production for most households in Malawi. These findings suggest that improved access to insurance of farming activities and wage employment opportunities could increase total household income. |
| Keywords: | labor productivity, agriculture, non-farm production, risk, efficiency |
| JEL: | J24 J43 O13 Q12 R23 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14703&r= |
| By: | Farmer, J. Doyne; Goodhart, C. A. E.; Kleinnijenhuis, Alissa M. |
| Abstract: | The 2007-2008 financial crisis forced governments to choose between the unattractive alternatives of either bailing out a systemically important bank (SIB) or allowing it to fail disruptively. Bail-in has been put forward as an alternative that potentially addresses the too-big-to-fail and contagion risk problems simultaneously. Though its efficacy has been demonstrated for smaller idiosyncratic SIB failures, its ability to maintain stability in cases of large SIB failures and system-wide crises remains untested. This paper’s novelty is to assess the financial-stability implications of bail-in design, explicitly accounting for the multilayered networked nature of the financial system. We present a model of the European financial system that captures all five of the prevailing contagion channels. We demonstrate that it is essential to understand the interaction of multiple contagion mechanisms and that financial institutions other than banks play an important role. Our results indicate that stability hinges on the bank-specific and structural bail-in design. On one hand, a welldesigned bail-in buttresses financial resilience, but on the other hand, an ill-designed bail-in tends to exacerbate financial distress, especially in system-wide crises and when there are large SIB failures. Our analysis suggests that the current bail-in design may be in the region of instability. While policy makers can fix this, the political economy incentives make this unlikely. |
| Keywords: | bail-in; bail-in deisgn; contagion; default; financial crisis; financial networks; political economy; resolution; systemically important banks; too big to fail |
| JEL: | F3 G3 |
| Date: | 2021–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111903&r= |
| By: | Catia Batista; David McKenzie |
| Abstract: | We test the predictions of different classic migration theories by using incentivized laboratory experiments to investigate how potential migrants decide between working in different destinations. We test theories of income maximization, migrant skill-selection, and multidestination choice as we vary migration costs, liquidity constraints, risk, social benefits, and incomplete information. We show the standard income maximization model of migration with selection on observed and unobserved skills leads to a much higher migration rate and more negative skill-selection than is obtained when migration decisions take place under more realistic assumptions. Second, we investigate whether the independence of irrelevant alternatives (IIA) assumption holds. We find it holds for most people when decisions just involve wages, costs, and liquidity constraints. However, once we add a risk of unemployment and incomplete information, IIA no longer holds for about 20 percent of our sample. |
| Keywords: | Migrant selection, destination choice, lab experiment, IIA |
| JEL: | D12 C39 I15 I18 O18 Q53 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:unl:novafr:wp2111&r= |
| By: | Hariharan, Naveen Kunnathuvalappil |
| Abstract: | Learning the determinants of successful project budgeting is crucial. This research attempts to empirically find the determinants of a successful budget. To find this, this work applied three different supervised machine learning algorithms for classification: Support Vector Machine (SVM), Logistic regression, and Probit regression with data from 470 projects. Five features have been selected: coordination, participation, budget control, communication, and motivation. The SVM analysis results showed that SVM could predict successful and failed budgets with fairly good accuracy. The results from Logistic and Probit regression showed that if managers properly focus on coordination, participation, budget control, and communication, the probability of success in project-budget increases. |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:xf7ak&r= |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | This quarterly market report was developed by researchers at IFPRI Malawi with the goal of providing clear and accurate information on the variation of weekly and monthly retail prices of selected agricultural commodities that are important for food security and nutrition in Malawi. The reports are intended as a resource for those interested in agricultural markets in Malawi. |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, food prices, legumes, roots, tubers, cereals, prices, agricultural products, markets, food security, nutrition |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspb:quarterly3a&r= |
| By: | Sandsør, Astrid Marie Jorde (University of Oslo); Zachrisson, Henrik Daae; Karoly, Lynn A. |
| Abstract: | Socioeconomic achievement gaps measure the disparity in test scores between students from high and low socioeconomic backgrounds, commonly measured as a combination of parental income, education and occupation. However, educational data often limits the ability to create such measures of family background and link them to student test scores, leading researchers to arrive at different conclusions about levels and trends depending on the SES measure and estimation method. In this paper we disentangle the importance of each by using register data from Norway with precise measures of parental income and education. We show that results crucially depend on the SES measure, as parental income and education are not interchangeable measures of socioeconomic background. Achievement gaps by parental income in Norway are large, 0.55-0.93 standard deviations, and have increased by about 10% of a standard deviation over the 11-year time period we study, whereas achievement gaps by parental education are even larger, 0.86-1.15 standard deviations, but remain stable over the same period. Accounting for compositional changes in immigration decreases the magnitude of the gaps, whether measured by parental income or education, while trends remain the same. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:osf:edarxi:unvcy&r= |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | This price bulletin was developed by researchers at IFPRI Malawi with the goal of providing clear and accurate information on the variation of weekly retail prices of selected agricultural commodities that are important for food security and nutrition in Malawi. The reports are intended as a resource for those interested in agricultural markets in Malawi. |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, livestock, prices, food prices, chickens, eggs, retail prices, goat meat, livestock products, fish |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspb:8b&r= |
| By: | Rodrigo García Arancibia (Universidad Nacional del Litoral/CONICET/RedNIE); Mariano Coronel (Universidad Nacional del Litoral); Jimena Vicentin Masaro (Universidad Nacional del Litoral / RedNIE) |
| Abstract: | The Latin American beer sector has undergone important changes over the last 25 years. The growth in beer production, consumption, and trade has been accompanied by a greater demand for malt and barley produced and traded in the region, displacing other traditional export countries of these inputs. Based on these facts, we studied the long-term relationship between this increase in beer production and the prices of imported inputs. In addition, we estimated the elaticities of demand of imported inputs of the main Latin American brewing countries. This allow as to infer about Latin America’s competitive position as a supplier of its own beer inputs. |
| Keywords: | beer inputs; import demand; cointegration; demand elasticities; regional integration |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:aoz:wpaper:85&r= |
| By: | Subodh Dubey; Ishant Sharma; Sabyasachee Mishra; Oded Cats; Prateek Bansal |
| Abstract: | Due to the unavailability of prototypes, the early adopters of novel products actively seek information from multiple sources (e.g., media and social networks) to minimize the potential risk. The existing behavior models not only fail to capture the information propagation within the individual's social network, but also they do not incorporate the impact of such word-of-mouth (WOM) dissemination on the consumer's risk preferences. Moreover, even cutting-edge forecasting models rely on crude/synthetic consumer behavior models. We propose a general framework to forecast the adoption of novel products by developing a new consumer behavior model and integrating it into a population-level agent-based model. Specifically, we extend the hybrid choice model to estimate consumer behavior, which incorporates social network effects and interplay between WOM and risk aversion. The calibrated consumer behavior model and synthetic population are passed through the agent-based model for forecasting the product market share. We apply the proposed framework to forecast the adoption of autonomous vehicles (AVs) in Nashville, USA. The consumer behavior model is calibrated with a stated preference survey data of 1,495 Nashville residents. The output of the agent-based model provides the effect of the purchase price, post-purchase satisfaction, and safety measures/regulations on the forecasted AV market share. With an annual AV price reduction of 5% at the initial purchase price of $40,000 and 90% of satisfied adopters, AVs are forecasted to attain around 85% market share in thirty years. These findings are crucial for policymakers to develop infrastructure plans and manufacturers to conduct an after-sales cost-benefit analysis. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06169&r= |
| By: | Traverso, Silvio; Vatiero, Massimiliano; Zaninotto, Enrico |
| Abstract: | This work discusses and empirically investigates the relationship between labor regulation and robotization. In particular, the empirical analysis focuses on the relationship between the discipline of workers' dismissal and the adoption of indus- trial robots in nineteen Western countries over the 2006{2016 period. We find that high levels of statutory employment protection have been negatively associated with robot adoption, suggesting that labor-friendly national legislations, by increasing adjustment costs (such as firing costs), and thus making investment riskier, provide less favorable environments for firms to invest in industrial robots. We also find, however, that the correlation is positively mediated by the sectoral levels of capital intensity, a hint that firms do resort to industrial robots as potential substitutes for workers to reduce employees' bargaining power and to limit their hold-up opportu- nities, which tend to be larger in sectors characterized by high levels of operating leverage. |
| Keywords: | Robot adoption,Labor regulation,Hold-up |
| JEL: | K31 O31 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:928&r= |
| By: | Boomsma, Mirthe (Tilburg University, School of Economics and Management) |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:a0a27602-10ed-4ab1-87a5-550161936ae3&r= |
| By: | Fanny Le Gloux; Marie Laporte; Sabine Duvaleix; Pierre Dupraz; Elodie Letort |
| Abstract: | Introducing fodder with high omega 3 content such as grass or linseed in the feed ration of dairy cows both improves the milk nutritional profile and reduces enteric methane emissions per liter. This lever is interesting to contribute to climate change mitigation but can also generate additional farm costs. Payment for Environmental Services, such as the Eco-Methane programme implemented by the association Bleu-Blanc-Coeur in France, can support a change of cows’ diet in dairy farms through the valorisation of methane emissions reduction. The effectiveness of such a scheme depends on (i) the definition of a precise indicator of enteric methane emissions capturing the feeding effect, (ii) a payment level that would be sufficiently attractive to compensate for the additional costs faced by farmers. This study compares two indicators of enteric methane emissions to show the effect of taking feeding into account. It also assesses the extra cost of milk production if the grassland areas in fodder crop rotation systems were to be increased in French dairy farms. The estimation of a variable cost function based on data from the Farm Accountancy Data Network (FADN) suggests a significant increase of the marginal cost of milk production with additional hectares of grass in mountainous areas, and in plains farms for which maize silage represents less than 30% of the fodder crop rotation system. |
| Keywords: | payment for environmental services, reduction of greenhouse gas emissions, milk production, marginal cost |
| JEL: | Q10 Q52 Q54 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:rae:wpaper:202104&r= |
| By: | Andrey Duván Rincón-Torres; Kimberly Rojas-Silva; Juan Manuel Julio-Román |
| Abstract: | We study the interdependence of FX and Treasury Bonds (TES) markets in Colombia. To do this, we estimate a heteroskedasticity identified VAR model on the returns of the COP/USD exchange rate (TRM) and bond prices, as well as event-analysis models for return volatilities, number of quotes, quote volume, and bid/ask spreads. The data under analysis consists of 5-minute intraday bid/ask US dollar prices and bond quotes, for an assortment of bond species. For these species we also have the number of bid/ask quotes as well as their volume. We found, also, that the exchange rate conveys information to the TES market, but the opposite does not completely hold: A one percent COP depreciation leads to a persistent reduction of TES prices between 0.05% and 0.22%. However, a 1% TES price increase has a very small effect and not entirely significant on the exchange rate, i.e. a COP appreciation between 0.001% and 0.009%. Furthermore, TRM return volatility increases do not affect bond return volatility but its liquidity, i.e. the bid/ask quote number and volume. These results are coherent with the fact that the FX market more efficiently reflects the effect of shocks than the TES market, which may be due to its low liquidity and concentration on a specific habitat. These results have implications for the design of financial stability policies as well as for private portfolio design, rebalancing and hedging. **** RESUMEN: Analizamos la interdependencia entre los mercados de divisas y bonos (TES) en Colombia. Para esto estimamos modelos VAR identificados por heterocedasticidad para los retornos de la tasa de cambio (TRM) y los precios de los bonos, así como también modelos de análisis de eventos para la volatilidad de los retornos, el núúmero y volumen de las ofertas, y los diferenciales de compra y venta, bid/ask spreads. Los datos analizados consisten en muestras de cada 5-minutos de precios bid/ask del dólar y de ofertas de los bonos, para un conjunto de referencias. Para estas referencias también contamos con el número de ofertas bid/ask así como su volumen. Encontramos que la TRM transmite información al mercado de bonos, pero lo opuesto no se da completamente: una depreciación de 1% del peso produce una reducción permanente del precio de los TES de entre 0.05% y 0.22%. Sin embargo, un incremento de 1% del precio de los bonos tiene un efecto pequeño y no enteramente significativo sobre la TRM, i.e. una apreciación del peso entre 0.001% y 0.009%. Adicionalmente, los incrementos en la volatilidad de la TRM no afectan la volatilidad de los retornos de los bonos, pero si su liquidez, es decir, el número y volumen de sus ofertas. Estos resultados son consistentes con el hecho de que el mercado de divisas refleja de manera más eficiente el efecto de los choques que el de bonos, resultado de la baja liquidez y concentración en un hábitat específico de este último. Estos resultados tienen implicaciones importantes para el diseño de políticas de estabilidad financiera, así como también para el diseño de portafolios privados, su rebalanceo y cobertura. |
| Keywords: | Spillovers effects, Bond returns, Currency risk, FX market, Interrelación de mercados, Retornos de los bonos, Riesgo de moneda, mercado de divisas |
| JEL: | F31 G12 G14 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bdr:borrec:1171&r= |
| By: | Colin Wessendorf; Alexander Kopka; Dirk Fornahl |
| Abstract: | The European Commission summarized six young General Purpose Technologies (GPTs) under the label of European Key Enabling Technologies (KETs) in 2009. GPTs are broad, pervasive and widely diffused technologies that enable knowledge creation and economic growth. This study analyzes to what extent the KETs’ structural relevance within their regional knowledge bases leads to regional knowledge creation. Additionally, we analyze whether the structural relevance and the regional knowledge presence in KETs interact with regards to regional knowledge creation. The ‘structure’ of a regional knowledge base describes the relation of all knowledge being present within a given region, while ‘structural relevance’ describes a technology’s impact on the structure. Our analysis focuses on the time period from 1986-2015 and includes Germany’s 141 Labor Market Regions (LMRs) as regional spatial units. Our database consists of patent data from which we map the structure of the regional knowledge bases, by constructing technological spaces based on technology co-occurrences on patents. The structural relevance is operationalized with the help of Social Network Analysis (SNA), by measuring the changes that the removal of KETs causes in the structure of technological spaces. Our findings indicate that KETs enable knowledge creation in different ways. They show that the effects of KETs on regional knowledge creation activities are KET-specific. Furthermore, it proves essential to distinguish between ‘knowledge presence’ and ‘structural knowledge relevance’ when addressing the innovation-spawning function of KETs. Thus, for both further research and for policy-making, it is a fundamental requirement to address KET-driven knowledge creation in particular KET-specific ways. |
| Keywords: | General purpose technologies, GPT, key enabling technologies, KET, regional innovation, regional knowledge base, knowledge space, technological space, technological integration, German regions |
| JEL: | O31 O33 R11 R58 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:2127&r= |
| By: | Kaan Gokcesu; Hakan Gokcesu |
| Abstract: | In this paper, we propose a nonparametric approach that can be used in envelope extraction, peak-burst detection and clustering in time series. Our problem formalization results in a naturally defined splitting/forking of the time series. With a possibly hierarchical implementation, it can be used for various applications in machine learning, signal processing and mathematical finance. From an incoming input signal, our iterative procedure sequentially creates two signals (one upper bounding and one lower bounding signal) by minimizing the cumulative $L_1$ drift. We show that a solution can be efficiently calculated by use of a Viterbi-like path tracking algorithm together with an optimal elimination rule. We consider many interesting settings, where our algorithm has near-linear time complexities. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02082&r= |
| By: | Michal Franta; Jan Libich |
| Abstract: | We put forward a novel macro-financial empirical modelling framework that can examine the tails of distributions of macroeconomic variables and the implied risks. It does so without quantile regression, also allowing for non-normal distributions. Besides methodological innovations, the framework offers a number of relevant insights into the effects of monetary and macroprudential policy on downside macroeconomic risk. This is both from the short-run perspective and from the long-run perspective, which has been remained unexamined in the existing Macro-at-Risk literature. In particular, we estimate the conditional and unconditional US output growth distribution and investigate the evolution of its first four moments. The short-run analysis finds that monetary policy and financial shocks render the conditional output growth distribution asymmetric, and affect downside risk over and above their impact on the conditional mean that policymakers routinely focus on. The long-run analysis indicates, among other things, that US output growth left-tail risk showed a general downward trend in the two decades preceding the Global Financial Crisis, but has started rising in recent years. Our examination strongly points to post-2008 unconventional monetary policies (quantitative easing) as a potential source of elevated long-run downside tail risk. |
| Keywords: | Downside tail risk, growth-at-risk, macroeconomic policy, macro-financial modeling, non-normal distribution, threshold VAR, US output growth |
| JEL: | C53 C54 E32 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cnb:wpaper:2021/3&r= |
| By: | Németh-Durkó, Emilia |
| Abstract: | The present study explores the relationship between economic growth, electricity consumption, carbon emissions and urbanization in Hungary over the period of 1974-2014. We use three-step model for testing stationarity, cointegration and causality in VECM framework. First, we employ ARDL bounds testing methodology to investigate the long run relationship among the series in the presence of structural breaks. Secondly, to overcome the issue of different integrated order of variables, we applied Toda-Yamamoto procedure to test causality. Our results indicate the existence of long run relationships. The impact of electricity consumption and urbanization are positive on carbon emissions and statistically significant in the long run. The empirical results show that bidirectional causality is running from electricity consumption to economic growth. We further found evidence in the case of bidirectional causality between carbon emissions and economic growth. The causality analysis validates conservation hypothesis meaning that electricity consumption, economic growth and urbanization Granger cause carbon emissions. We conclude that increasing electricity consumption is an indicator of economy growth in Hungary therefore economic policy and energy policy interrelating coordination are vital for maintaining sustainable development. |
| Keywords: | energy, economic growth, Granger causality, Toda-Yamamoto approach, energy policy, ARDL, conservation hypothesis |
| JEL: | Q40 Q54 Q56 R11 |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:cvh:coecwp:2021/05&r= |
| By: | Castillo, Marcelo; Simnitt, Skyler; Astill, Gregory; Minor, Travis |
| Abstract: | The H-2A Agricultural Guest Worker program allows U.S. agricultural employers to hire foreign workers on a temporary or seasonal basis. Many U.S. producers of labor-intensive commodities appear to be adjusting to tighter farm labor markets by employing H-2A workers. The program rapidly expanded over the last decade, increasing from 79,000 H-2A workers in 2010 to 258,000 in 2019. All sectors and most regions of the United States have experienced significant growth in H-2A employment, but the increase is most pronounced in sectors with high labor requirements and seasonal employment, i.e., fruit and tree nuts and vegetables and melons. H-2A growth is uneven across the United States with larger employment changes in the Southeast than in other regions. Farm labor contractors (brokers that directly employ farmworkers and lease their services to farms) account for a growing share of H-2A employment. This report explores how H-2A usage levels differ by agricultural sector, across geography, and the type of firm requesting the workers. The analyses in this study can provide a benchmark to measure future changes in H-2A labor use. |
| Keywords: | Agribusiness, Crop Production/Industries, Farm Management, Industrial Organization, Labor and Human Capital, Political Economy, Production Economics |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usdami:313476&r= |
| By: | Schoentgen, Aude; Wilkinson, Laura |
| Abstract: | The paper explores how ethical frameworks and concerns arise within digital technologies and examines the implementation of ethics by governments and private companies. It concludes by proposing a forward-looking approach and identifying potential challenges to implement ethics within the design and use of digital technologies. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238052&r= |
| By: | Jonas Jessen; Daniel Kuehnle; Markus Wagner |
| Abstract: | Habit formation theory and the transformative voting hypothesis both imply that voting has downstream consequences for turnout and political involvement. Although several studies have applied causal research designs to study this question, the long-run evidence is extremely limited, especially for potentially transformative effects. We jointly examine the short- and long-term impact of earlier voting eligibility on subsequent turnout and political involvement using rich panel data from the UK. Exploiting the eligibility cut-off for national elections within a regression discontinuity design, our precise estimates document a short-run increase in voting–for those able to vote earlier–alongside a contemporaneous increase in several measures of political involvement. However, we show that these short-term effects fade away quickly and do not translate into permanent changes in turnout propensity or political involvement. Our results imply that, in a setting with low institutional barriers to vote, the transformative effects of voting are short-lived at most. |
| Keywords: | Habit formation, transformative voting hypothesis, voter turnout, political involvement, regression discontinuity |
| JEL: | D01 D70 D72 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1973&r= |
| By: | Karen van Hedel (Max Planck Institute for Demographic Research, Rostock, Germany); Heta Moustgaard; Mikko Myrskylä (Max Planck Institute for Demographic Research, Rostock, Germany); Pekka Martikainen (Max Planck Institute for Demographic Research, Rostock, Germany) |
| Abstract: | Better mental health is observed among women with a partner, children, or employment as compared with women without a partner, children, or employment, respectively. Moreover, women who fulfill all three roles are generally healthier than those with fewer roles. Because of significant changes in work-family life constellations over age, understanding these health differentials requires a life course approach. We linked work-family trajectories to mental health in mid-life for Finnish women using longitudinal registry data. Panel data from an 11% random sample of the population residing in Finland in any year between 1987 and 2007 and followed up until 2013 were used. Work-family combinations were based on partnership status, motherhood status, and employment status. Purchases of prescribed psychotropic medication were used as a measure of mental health. We used sequence analysis to identify 7 distinct groups of women based on their work-family trajectories between ages 20 to 42 years. The associations of typologies of trajectories with mental health at age 43 years were estimated with logistic regression models. Compared to employed mothers with a partner, all other women were more likely to have purchased any psychotropic medication at age 43; especially women without a partner, children or employment and lone mothers had worse mental health. These disadvantages remained after controlling for psychotropic medication purchases earlier in life (to account for potential health selection). Adjusting for age at motherhood did not contribute to the better mental health of employed mothers with a partner. Women combining partnership, motherhood, and employment during early working ages had better mental health later in life than women with other work-family trajectories even after adjusting for mental health earlier in life. Interventions to improve the mental health of women living alone in mid-life, including lone mothers, and individuals without employment, may be needed. Keywords: Work-family life; Mental health; Finland; Life course approach; Sequence analysis; Psychotropic medication use |
| JEL: | J1 Z0 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:dem:wpaper:wp-2021-015&r= |
| By: | Peter Skott (Department of Economics, University of Massachusetts Amherst) |
| Abstract: | Phillips curves and natural rates of unemployment provide a poor foundation for analyzing inflation in developing economies. Structuralist alternatives have focused on distributional conflict and cross-sectoral interactions, but if the distributional claims are exogenous, the theory has formal similarities with mainstream analysis, generating a natural rate of underemployment. This paper outlines a modified structuralist model in which historically determined distributional claims eliminate this natural rate of underemployment. Economic development and structural transformation are not blocked by immutable distributional claims, but shocks to relative incomes can produce explosive inflation. |
| Keywords: | Phillips curve, underemployment, distributional conáict, structuralist model |
| JEL: | E31 O23 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-08&r= |
| By: | Simón A. Rella (Institute of Science and Technology Austria); Yuliya A. Kulikova (Banco de España); Emmanouil T. Dermitzakis (University of Geneva Medical School); Fyodor A. Kondrashov (Institute of Science and Technology Austria) |
| Abstract: | Vaccines are thought to be the best available solution for controlling the ongoing SARS-CoV-2 pandemic. However, the emergence of vaccine-resistant strains may come too rapidly for current vaccine developments to alleviate the health, economic and social consequences of the pandemic. To quantify and characterize the risk of such a scenario, we created a SIR-derived model with initial stochastic dynamics of the vaccine-resistant strain to study the probability of its emergence and establishment. Using parameters realistically resembling SARS-CoV-2 transmission, we model a wave-like pattern of the pandemic and consider the impact of the rate of vaccination and the strength of non-pharmaceutical intervention measures on the probability of emergence of a resistant strain. As expected, we found that a fast rate of vaccination decreases the probability of emergence of a resistant strain. Counterintuitively, when a relaxation of non-pharmaceutical interventions happened at a time when most individuals of the population have already been vaccinated the probability of emergence of a resistant strain was greatly increased. Consequently, we show that a period of transmission reduction close to the end of the vaccination campaign can substantially reduce the probability of resistant strain establishment. These results, therefore, suggest the convenience of maintaining non-pharmaceutical interventions and prevention protocols throughout the entire vaccination period. |
| Keywords: | SARS-COV-2 transmission, vaccination, vaccine-resistant strains, SIR model, stochastic dynamics |
| JEL: | C02 I18 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2129&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | Interest to the procurement reform of goods and services also improving the usefulness of the procurement process for the public. Therefore In this study intends to analyze the application service Electronic procurement (LPSE) as well as the chance emergence aftereffect capable of promoting a healthy and fair competition for all businesses related thereto.This research is descriptive qualitative where this research seeks to describe the true situation regarding the implementation of the Electronic Procurement Service (LPSE) in Coal County. The data used to deduce hasilpenelitian are primary data obtained directly from the informant research at research sites and then analyzed qualitatively.The results of primary data processing research reveals that the application or implementation of procurement services electronic government has been well implemented which includes the attitude of the executors concerned, availability of human resources and infrastructure and in terms of communicating it to the target or the desired target. Nevertheless there are still obstacles faced but still within normal level and can be controlled by administrators. |
| Date: | 2021–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:w6a4g&r= |
| By: | Ella Marley-Zagar (MCR Clinical Traits Unit at University College London, UK); Ian R. White (MCR Clinical Traits Unit at University College London, UK); Mahesh K. B. Parmar (MCR Clinical Traits Unit at University College London, UK); Patrick Royston (MCR Clinical Traits Unit at University College London, UK); Abdel G. Babiker (MCR Clinical Traits Unit at University College London, UK) |
| Abstract: | Sample size calculation is essential in the design of a randomised clinical trial in order to ensure that there is adequate power to evaluate treatment. It is also used in the design of randomised experiments in other fields such as education, international development and social science. We describe the command artbin, to calculate sample size or power for a clinical trial or similar experiment with a binary outcome. A particular feature of artbin is that it can be used to design non-inferiority (NI) and substantial-superiority (SS) trials. Non-inferiority trials are used in the development of new treatment regimes, to test whether the experimental treatment is no worse than an existing treatment by more than a pre-specified amount. NI trials are used when the intervention is not expected to be superior, but has other benefits such as offering a shorter less complex regime that can reduce the risk of drug-resistant strains developing, of particular concern for countries without robust health care systems. We illustrate the command’s use in the STREAM trial, an NI design that demonstrated a shorter more intensive treatment for multi-drug resistant tuberculosis was only 1% less effective than the lengthier treatment recommended by the World Health Organisation. artbin also differs from the offical power command by allowing a wide range of statistical tests (score, Wald, conditional, trend across K groups), and offering calculations under local or distant alternatives, with or without continuity correction. artbin has been available since 2004 but recent updates include clearer syntax, clear documentation and some new features. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:3&r= |
| By: | Christian Belzil; Julie Pernaudet; François Poinas |
| Abstract: | Imagine the situation in which an econometrician can infer the distribution of welfare gains induced by the provision of higher education financial aid using survey data obtained from a set of individuals, and can estimate the same distribution using a highly incentivized field experiment in which the same set of individuals participated. In the experimental setting relying on incentivized choices, making the wrong decision can be costly. In the survey, the stakes are null and reporting false intentions and expectations is costless. In this paper, we evaluate the extent to which the decomposition of the two welfare gain distributions into latent factors are coherent. We find that individuals often put a much different weight to a specific set of determinants in the experiment and in the survey and that the valuations of financial aid are rank incoherent. About 66% of Biased Incoherency (defined as the tendency to have a higher valuation rank in the experiment than in the survey) is explained by individual heterogeneity in subjective benefits, costs and other factors and about half of these factors affect the welfare gains of financial aid in the survey and in the experiment in opposite directions. Ex-ante policy evaluation of a potential expansion of the higher education financial aid system may therefore depend heavily on whether or not the data have been obtained in an incentivized context. Imaginez la situation dans laquelle un économètre peut déduire la distribution des gains de bien-être induits par l'octroi d'une aide financière à l'enseignement supérieur à l'aide de données d'enquête obtenues auprès d'un ensemble d'individus, et peut estimer la même distribution à l'aide d'une expérience de terrain fortement incitative à laquelle le même ensemble d'individus a participé. Dans le cadre expérimental reposant sur des choix incitatifs, prendre une mauvaise décision peut être coûteux. Dans l'enquête, l'enjeu est nul et la déclaration de fausses intentions et attentes est sans coût. Dans cet article, nous évaluons dans quelle mesure la décomposition des deux distributions de gains de bien-être en facteurs latents est cohérente. Nous constatons que les individus accordent souvent un poids très différent à un ensemble spécifique de déterminants dans l'expérience et dans l'enquête et que les évaluations de l'aide financière sont incohérentes. Environ 66% de l'incohérence biaisée (définie comme la tendance à avoir un rang d'évaluation plus élevé dans l'expérience que dans l'enquête) s'explique par l'hétérogénéité individuelle des avantages subjectifs, des coûts et d'autres facteurs et environ la moitié de ces facteurs affectent les gains de bien-être de l'aide financière dans l'enquête et dans l'expérience dans des directions opposées. L'évaluation politique ex ante d'une expansion potentielle du système d'aide financière à l'enseignement supérieur peut donc dépendre fortement du fait que les données ont été obtenues ou non dans un contexte incitatif. |
| Keywords: | Field experiment,survey data,coherency,incentives, Expérience sur le terrain,données d'enquête,cohérence,incitations |
| JEL: | I2 C91 C93 D12 D9 D91 |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:cir:cirwor:2021s-30&r= |
| By: | Oriane Lafuente-Sampietro (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article will investigate the links between convertible local currencies (CLCs) and economic localisation. Following on the qualitative study by Marshall and O'Neil (2018), we will answer the following question: to what extent do convertible local currencies foster the localisation of procurement and production by creating new commercial relationships between businesses that use them? We will use data from a quantitative survey conducted by the Mouvement SOL, a French net- work of CLCs, for individual (n=1597) and provider (n=542) users of French CLCs. We will also address how new providers are found through the currency and analyse the change in con- sumption and production practices. This first analysis will be supported by a case study on the Eusko, the largest convertible local currency in France. The Eusko case makes it possible to cross-reference the survey data from Eusko users with the transaction data from digital Eusko users in order to evaluate whether the results of forming commercial relationships between companies are consistent across both sources. We will also use digital Eusko transaction data to run a network analysis, enabling us to observe the development of commercial relationships inside the community over time. We found that between one fourth to one third of businesses in a CLC network find new business partners in their CLC community, connecting with 3.5 new partners on average. These results are more encouraging than the absence of localisation found by Marshall and O'Neil (2018). Transaction data also allows us to determine which sectors benefit the most from the circulation of CLC and thus draw a conclusion on the capacity of the currency to move from the localisation of procurement to the localisation of production. Our results on this point are more balanced. The retail sector benefits the most from the circulation of Eusko and actors in this sector ex- change 40% of the CLC received into national currency, limiting the flow of income exchanged within the CLC. |
| Keywords: | Economic localisation,Convertible local currency,Monnaie locale complémentaire,Monnaie alternative |
| Date: | 2021–06–22 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03324630&r= |
| By: | Sapitri, Okvela; Hendra, Muhammad |
| Abstract: | The purpose of this study was to determine how the role of customer service in providing services to customers at PT. BTPN Purna Bakti KC Padang. This research method uses descriptive research analysis that is to provide a clear picture of the role of customer service in improving services to customers at PT. BTPN Purna Bakti KC Padang. The results of the study indicate that customer service is very useful for improving services as well as efforts to promote the good image of PT. BTPN Purna Bakti KC Padang is the receptionist, deksman, salesman, customer relations officer and as commiunicator. |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:jkm62&r= |
| By: | Dipu, Sudhakar; Quaas, Johannes; Quaas, Martin; Rickels, Wilfried; Mülmenstädt, Johannes; Boucher, Olivier |
| Abstract: | Radiation management (RM) has been proposed as a conceivable climate engineering (CE) intervention to mitigate global warming. In this study, we used a coupled climate model (MPI-ESM) with a very idealized setup to investigate the efficacy and risks of CE at a local scale in space and time (regional radiation management, RRM) assuming that cloud modification is technically possible. RM is implemented in the climate model by the brightening of low-level clouds (solar radiation management, SRM) and thinning of cirrus (terrestrial radiation management, TRM). The region chosen is North America, and we simulated a period of 30 years. The implemented sustained RM resulted in a net local radiative forcing of −9.8 Wm−2 and a local cooling of −0.8 K. Surface temperature (SAT) extremes (90th and 10th percentiles) show negative anomalies in the target region. However, substantial climate impacts were also simulated outside the target area, with warming in the Arctic and pronounced precipitation change in the eastern Pacific. As a variant of RRM, a targeted intervention to suppress heat waves (HW) was investigated in further simulations by implementing intermittent cloud modification locally, prior to the simulated HW situations. In most cases, the intermittent RRM results in a successful reduction of temperatures locally, with substantially smaller impacts outside the target area compared to the sustained RRM. |
| Keywords: | regional radiation management,climate engineering,radiative forcing |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:240193&r= |
| By: | Codrina Rada, Marcio Santetti, Ansel Schiavone, Rudiger von Arnim |
| Abstract: | The stylized facts of neoliberalism include a decline in steady state rate of growth and labor share. Recent classical-Keynesian literature sees the latter as a cause for the former. A crucial element is the distinction between short and long run. The business cycle is profit-led and profit-squeeze, but the steady state features a wage led natural rate of growth. This paper presents simple macroeconomic models in this vein. Our starting point is to assume an adverse shock to real wage bargaining, which across all models depresses the labor share. We consider (i) a two-dimensional model in income-capital ratio and labor share, a (ii) three-dimensional model that adds the employment rate as state variable, and a (iii) four-dimensional model that furthermore endogenizes the savings propensity. Key results are that model (i) predicts an increase (decrease) in the warranted (natural) rate of growth, and thus does not generate balanced growth; (ii) resolves this problem and predicts stagnation in steady state, but implies a long run paradox of thrift; and (iii) allows for contextualization vis-a-vis ` the utilization controversy. |
| Keywords: | Goodwin theory; labor suppression; secular stagnation JEL Classification: E12, E25, E32, J50 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:uta:papers:2021_05&r= |
| By: | Meier, Felix D.; Quaas, Martin F. |
| Abstract: | This paper introduces endogenous technological change in a Hotelling-Herfindahl model of natural resource use to study the recent developments in the U.S. natural gas industry. We consider optimal forward-looking technology investments, and study implications for the order of extraction of conventional and shale gas, and a backstop technology, and characterize the development of gas prices. We find that technology investments increase during the extraction of conventional gas. Once production shifts towards shale gas, investments decline. Consistent with current trends, our theory explains how gas prices can follow a U-shaped path. The calibrated model suggests that U.S. shale gas production continues to grow and prices continue to decrease until 2050. We analytically and numerically show that the introduction of a carbon tax would reduce technology investments, and thus could drastically change the temporal patterns of U.S. shale gas extraction. The forward-looking behaviour of firms is crucial for such an effect, which does not occur in models that treat the improvement in extraction technology as an unanticipated shock to the industry. |
| Keywords: | shale gas,endogenous technological change,optimal order of extraction,natural gas prices,extraction costs,renewable backstop,optimal transition,carbon tax |
| JEL: | D25 Q30 Q55 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:240207&r= |
| By: | Jain, Satish |
| Abstract: | The purpose of this paper is to investigate the strong consistency of neutral and monotonic binary social decision rules. Individuals are assumed to satisfy von Neumann-Morgenstern axioms of individual rationality. The main result of the paper shows that there does not exist any neutral and monotonic non-null non-dictatorial binary social decision rule which is strongly consistent. The relationship between restricted preferences and the existence of strong equilibria is also investigated. It is shown that for every non-dictatorial social decision function satisfying the conditions of independence of irrelevant alternatives, neutrality, monotonicity and weak Pareto-criterion there exists a profile of individual orderings satisfying value-restriction corresponding to which there is no strong equilibrium. |
| Keywords: | Binary Social Decision Rules, Strong Consistency, Neutrality, Monotonicity, Value-Restricted Preferences |
| JEL: | D71 |
| Date: | 2020–10–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109657&r= |
| By: | Gyozo Gyongyosi (Leibniz Institute for Financial Research SAFE; Kiel Institute for the World Economy); Steven Ongena (University of Zurich - Department of Banking and Finance; Swiss Finance Institute; KU Leuven; Centre for Economic Policy Research (CEPR)); Ibolya Schindele (BI Norwegian Business School; Central Bank of Hungary) |
| Abstract: | We study how monetary conditions change the supply by banks of mortgage credit to households. We exploit the widespread presence of foreign currency mortgages in Hungary and study this country`s comprehensive credit registry. Changes in monetary conditions not only affect the supply of credit in volume, but also in its currency and risk composition. Hence, we establish a “bank‐lending‐to‐households” channel of monetary policy that is heterogeneous. While the availability of foreign currency mortgages weakens the domestic bank‐lending channel overall, weakly capitalized domestic banks relying on swap transactions for their foreign currency lending are more sensitive to changes in monetary conditions. |
| Keywords: | Bank balance‐sheet channel, household lending, monetary policy, foreign currency lending. |
| JEL: | E51 F3 G21 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2164&r= |
| By: | Juan David Yépez Torrijos |
| Abstract: | En Colombia ha surgido una política con el acto legislativo no. 4 del 2007, donde se otorga un dinero extra para los municipios con menos de 25.000 habitantes por medio del SGP, al rubro de participación de propósito general. Este ingreso se distribuye por conceptos de pobreza y de ruralidad en el municipio. Partiendo de lo anterior, se construye un espacio ideal para el análisis de impacto, ya que la política permite abordar la idea de la asignación como un proceso cuasi aleatorio de experimentación. Entonces, por medio de la regresión discontinua, se analizó la relación que tiene esta política en el PIB (y sus derivados) en los municipios seleccionados por la política, tomando desde el 2008 hasta el 2017. Los resultados indicaron que no había nexo entre la política y el desarrollo municipal aun usando diferentes especificaciones y variables de resultado. |
| Keywords: | Política pública, Colombia, Regresión Discontinua, Municipios, Desarrollo Económico |
| JEL: | E61 G18 H83 H11 H76 O11 |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019562&r= |
| By: | Chabé-Ferret, Sylvain; Voia, Anca |
| Abstract: | Grassland, especially when extensively managed and when replacing cropland, stores carbon in the ground. As a result, Grassland Conservation Programs, that pay farmers for maintaining grassland cover, might be an effective way to combat climate change, if they succeed in triggering an increase in grassland cover at the expense of cropland for a reasonable amount of money. In this paper, we use a natural experiment to estimate the cost-effectiveness of the French Grassland Conservation Program, the largest of such programs in the world. We exploit a change in the eligibility requirements for the program that generated a sizable increase in the proportion of participants in the areas most affected by the reform. We find that the expansion of the program lead to a small increase in grassland area, mainly at the expense of croplands, which implies that the program expansion increased carbon storage. We also find that the elasticity of grassland provision is low, and that, as a result, the program has large windfall gains. To compute the benefit-cost ratio of the program, we combine our results with similar estimates from the liter- ature using meta-analysis tools and we introduce the resulting parameter in a model of carbon storage in grassland. We find that, for a carbon price of 24 Euros/tCO2 eq, the climate benefits of the program are equal to 7±3% of its costs. When taking into account the other benefits brought about by grassland, we find the benefits of the program to be equal to 44±15% of its costs. We estimate that the program would break even for a carbon price of 194±122 Euros/tCO2 eq. |
| Keywords: | Payment for Ecosystem Services; Grassland; Natural Experiment; Treatment Effect |
| JEL: | Q15 Q18 Q24 Q28 Q57 |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:125928&r= |
| By: | Alan Hernández-Solano (Instituto de Investigaciones para el Desarrollo con Equidad - Universidad Iberoamericana); Jhair López-López (National Research System); Antonio Yúnez-Naude (El Colegio de México); Yatziry Govea-Vargas (El Colegio de México) |
| Abstract: | The health-care crisis due to the spread of Covid-19 has caused profound disruption on the Mexican economy and society. Our purpose in this paper is to contribute to the knowledge on the economic impacts the pandemic has had in Mexico and to evaluate social policy options to mitigate its effects. We do so based on a multisectoral-multiplier model and the most recent Social Accounting Matrix of Mexico, by which we estimate the direct and indirect impacts of Covid-19 as well the likely effects of two alternative policies aimed at mitigating these impacts: an unconditional cash transfer scheme for households living in poverty and the establishment of an insurance program for workers who have lost their jobs during the spread of the disease. We find that the former policy is superior to the latter since it alleviates more value added and income losses, as well as poverty incidence and inequality. |
| Keywords: | Pandemic, Economywide impacts, Social policies, income distribution, poverty |
| JEL: | C63 H12 P36 P43 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:emx:ceedoc:2021-04&r= |
| By: | KUME Koichi; TSURU Kotaro; SANO Shinpei; YASUI Kengo |
| Abstract: | Using the individual data of an online questionnaire survey conducted by the Research Institute of Economy, Trade and Industry (RIETI), we empirically analyzed the relationship between affiliation-oriented OCB (behavior that benefits the organization), challenge-oriented OCB (reporting fraud), performance, and personal attributes and personality traits. First, there were no financial returns for the two OCBs. On the other hand, those who performed two OCBs were significantly more satisfied with their work. Next, we analyzed the following determinants of OCB; (1) personal attributes and personality traits, (2) the Japanese employment system, (3) human resource development to foster good inter-organization / interpersonal relationships, job traits, and well-being. As a result, we confirmed that (1) women and executives, agreeableness, grit, locus of control, and positive reciprocity are more positive for both OCBs, (2) the conventional Japanese employment system (long-term employment, internal promotion, etc.) has a positive correlation with both OCBs, (3) Helping each other in the workplace, ease of communication with superiors and colleagues, jobs with high skill diversity and task completion rates, receiving proper evaluations, and working with enthusiasm, are all positively correlated with the two OCBs. These results suggest that Japanese companies which have taken OCB as a natural obligation should consciously foster OCB by reaffirming the determinants of OCB as the Japanese employment system is at a turning point. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:21044&r= |
| By: | Gyula Seres; Anna Balleyer; Nicola Cerutti; Jana Friedrichsen; Müge Süer |
| Abstract: | During the COVID-19 pandemic, the introduction of mandatory face mask usage triggered a heated debate. A major point of debate is whether community use of masks creates a false sense of security that would diminish physical distancing, counteracting any potential direct benefit from masking. We conducted a randomized field experiment in Berlin, Germany, to investigate how masks affect distancing and whether the mask effect interacts with the introduction of an indoor mask mandate. Joining waiting lines in front of stores, we measured distances kept from the experimenter in two treatment conditions { the experimenter wore a mask in one and no face covering in the other { in two time spans { before and after mask use becoming mandatory in stores. We find no evidence that mandatory masking has a negative effect on distance kept toward a masked person. To the contrary, masks significantly increase distancing and the effect does not differ between the two periods. However, we show that after the mandate, distances are shorter in locations where more non-essential stores, which were closed before the mandate, had reopened. We argue that the relaxations in general restrictions that coincided with the mask mandate led individuals to reduce other precautions, like keeping a safe distance. |
| Keywords: | COVID-19, face masks, social distancing, risk compensation, field experiment, health policy |
| JEL: | I12 D9 C93 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1971&r= |
| By: | Ibert, Oliver; Harmsen, Tjorven; Brinks, Verena |
| Abstract: | Der Umgang mit Krisen bedeutet vor allem, Entscheidungen unter Bedingungen von existentieller Bedrohung, fundamentaler Unsicherheit und hoher Dringlichkeit treffen zu müssen. Moderne Krisen überschreiten territoriale und disziplinäre Grenzen, Verwaltungsressorts und Wirtschaftssektoren oder die Grenze zwischen Kultur und Natur. Mandatsträger*innen sind daher immer häufiger mit den Grenzen ihres eigenen Wissens konfrontiert. Externe Expertise kann dabei helfen, vor, während und nach einer Krise gut informierte Entscheidungen zu treffen. Im Umgang mit Krisen geht es nicht mehr allein darum, eine akute Bedrohung abzuwenden, sondern auch Krisenerfahrungen zu reflektieren und idealerweise Veränderungen vorzunehmen, um ein Wiederkehren der Krise zu verhindern. Auch Expert*Innen können hierzu beitragen. Gelingt es, gestärkt aus einer Krise herauszukommen, dann sprechen wir von einem resilienten Krisenumgang. Über die Besonderheiten von Beratung in Krisen existieren leider kaum Kenntnisse. Diese Handreichung soll Experten*innen darauf vorbereiten, in solchen Ausnahmesituationen adäquat zu agieren. Sie kann in Nicht-Krisenzeiten als Vorbereitung auf eine Aufgabe gelesen oder im Krisenfall zur schnellen Orientierung herangezogen werden. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:irsdia:42021&r= |
| By: | Hole, Dave; Collins, Pamela; Tesfaw, Anteneh; Barrera, Lina; Mascia, Michael B.; Turner, Will |
| Abstract: | Central to the premise of the Sustainable Development Goals is the concept that the environment underpins the economic and social dimensions of development, yet the language and structure of the SDG framework are largely blind to these environment-development relationships beyond the "nature" Goals (14 and 15). As a result, ecosystem health continues to decline, development milestones lag, and investments are suboptimally allocated. Here, we highlight and conceptually map nature's role across the entire framework and make suggestions for leveraging synergies and limiting undesired impacts. |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:ecoevo:593q7&r= |
| By: | Stark, Oded; Budzinski, Wiktor |
| Abstract: | The Gini coefficient features prominently in Amartya Sen’s 1973 and 1997 seminal work on income inequality and social welfare. We construct the Gini coefficient from social-psychological building blocks, reformulating it as a ratio between a measure of social stress and aggregate income. We determine when as a consequence of an income gain by an individual, an increase in the social stress measure dominates a concurrent increase in the aggregate income, such that the magnitude of the Gini coefficient increases. By integrating our approach to the construction of the Gini coefficient with Sen’s social welfare function, we are able to endow the function with a social-psychological underpinning, showing that this function, too, is a composite of a measure of social stress and aggregate income. We reveal a dual role played by aggregate income as a booster of social welfare in Sen’s social welfare function. Quite surprisingly, we find that a marginal increase of income for any individual, regardless of the position of the individual in the hierarchy of incomes, improves welfare as measured by Sen’s social welfare function. |
| Keywords: | Institutional and Behavioral Economics, International Development, Labor and Human Capital, Political Economy, Public Economics |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:ags:ubzefd:313522&r= |
| By: | Jeschonneck, Malte |
| Abstract: | The increased prevalence of pricing algorithms incited an ongoing debate about new forms of collusion. The concern is that intelligent algorithms may be able to forge collusive schemes without being explicitly instructed to do so. I attempt to examine the ability of reinforcement learning algorithms to maintain collusive prices in a simulated oligopoly of price competition. To my knowledge, this study is the first to use a reinforcement learning system with linear function approximation and eligibility traces in an economic environment. I show that the deployed agents sustain supra-competitive prices, but tend to be exploitable by deviating agents in the short-term. The price level upon convergence crucially hinges on the utilized method to estimate the qualities of actions. These findings are robust to variations of parameters that control the learning process and the environment. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:370&r= |
| By: | Cörvers, Frank (RS: GSBE Theme Learning and Work, RS: FdR Research Group ITEM, RS: SBE - MACIMIDE, ROA / Human capital in the region); Reinold, Julia (RS: GSBE MGSoG, Maastricht Graduate School of Governance, RS: FdR Research Group ITEM); Chakkar, Saena (RS: GSBE other - not theme-related research, ROA / Human capital in the region); Bolzonella, Francesco; Ronda, Vera |
| Abstract: | Attracting and retaining migrants can have many benefits for the host country and its economy, for example to mitigate skills shortages. Regulating immigration may prevent several negative consequences of a shrinking and ageing population. However, research and policy often focus on the highly skilled or so-called knowledge migrants (kennismigranten) as a source of human capital, which can increase innovation and a country’s competitiveness. A group of labour migrants that receives significantly less attention from research and policy, are the medium-skilled migrant workers. Although it makes up a significant share of the migrant population, this group is rarely supported by specific migration policies. |
| Date: | 2021–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:unm:umarot:2021005&r= |
| By: | Pascal Flurin Meier (Department of Business Administration, University of Zurich); Raphael Flepp (Department of Business Administration, University of Zurich); Egon Franck (Department of Business Administration, University of Zurich) |
| Abstract: | This paper examines whether sports betting markets are semistrong-form efficient — i.e., whether new information is rapidly and completely incorporated into betting prices. We use news on ghost games in the top European football leagues due to the COVID-19 pandemic as a clean arrival of new public information. Because spectators are absent during ghost games, the home advantage is reduced, and we test whether this information is fully reflected in betting prices. Our results show that bookmakers and betting exchanges systematically overestimated a home team’s winning probability during the first period of the ghost games, which suggests that betting markets are, at least temporally, not semistrong-form efficient. Examining different leagues, we find that our main results are driven by the German Bundesliga, which was the first league to resume operations. We exploit a betting strategy that yields a positive net payoff over more than one month. |
| Keywords: | Sports Betting Market, Market Efficiency, Home Advantage, COVID-19 |
| JEL: | G14 L83 Z2 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:zrh:wpaper:387&r= |
| By: | Hudson, Heather E.; McMahon, Rob; Murdoch, Bill |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238029&r= |
| By: | Lokdam, Hjalte |
| Abstract: | This paper argues that the Economic and Monetary Union (EMU) created at Maastricht conformed to the neoliberal theory of interstate federalism in seeking to constitute structural conditions that circumscribed the effective exercise of activist public authority at both the Member State and European level. A response to a perceived ‘crisis of governability,’ it was designed to address the problem of excessive, and ineffective, governmental interventions in economic matters. By separating monetary and fiscal policy, the EMU ensured that no single public authority at the Member State or European level could control all the main levers of economic government. The Eurozone Crisis challenged this construct by emphasising the need for a coherent and effective exercise of public authority. The problem was thus no longer an excess of government but the absence of effective governmental authority for the EMU as a whole. Eurozone Crisis reforms introduced a greater scope for federal interventions in the domestic affairs of Member States and such reforms have elicited a new constitutional imaginary, expressed by European elites, that emphasises the need to generate ‘European sovereignty.’ This imaginary departs radically from the original EMU by foreseeing an omnicompetent European governmental apparatus that is able to intervene in, and control, economic developments across the Union in accordance with political objectives. The constitutional imaginary of the EMU can thus no longer meaningfully be called neoliberal. The early response to the COVID-19 Crisis, furthermore, highlights that the objectives pursued under the reformed EMU may depart from the set of policies traditionally associated with neoliberalism. What it should be called instead, however, remains unclear. |
| Keywords: | Economic and Monetary Union; Eurozone Crisis; neoliberalism; federalism; economic constitution; law and political economy |
| JEL: | F3 G3 |
| Date: | 2021–01–13 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111883&r= |
| By: | Putri, Roza Islami; Widayati, Ratna |
| Abstract: | The purpose of this study was to find out how to provide credit at Bank Nagari Cabang Painan. The research method of data collection uses two methods, namely library research and field research. The results of this study are the implementation of lending at Bank Nagari Cabang Painan in accordance with established procedures, starting from credit applications, credit analysis, recommendations, credit decisions, signing credit contracts, credit realization and credit supervision. The development of credit at the Bank Nagari Cabang Painan has increased every year this is due to the excellent financial performance of the Bank Nagari Cabang Painan. |
| Date: | 2021–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:x98t7&r= |
| By: | Pooya Molavi |
| Abstract: | What are the testable restrictions imposed on the dynamics of an agent's belief by the hypothesis of Bayesian rationality, which do not rely on the additional assumption that the agent has an objectively correct prior? In this paper, I argue that there are essentially no such restrictions. I consider an agent who chooses a sequence of actions and an econometrician who observes the agent's actions but not her signals and is interested in testing the hypothesis that the agent is Bayesian. I argue that -- absent a priori knowledge on the part of the econometrician on the set of models considered by the agent -- there are almost no observations that would lead the econometrician to conclude that the agent is not Bayesian. This result holds even if the set of actions is sufficiently rich that the agent's action fully reveals her belief about the payoff-relevant state and even if the econometrician observes a large number of identical agents facing the same sequence of decision problems. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07007&r= |
| By: | Toossi, Saied; Jones, Jordan W.; Hodges, Leslie |
| Abstract: | The U.S. Department of Agriculture (USDA) typically administers 15 domestic food and nutrition assistance programs that together affect the lives of millions of people and account for roughly two-thirds of USDA’s annual budget. In response to the coronavirus (COVID-19) pandemic, USDA launched two new programs, Pandemic Electronic Benefit Transfer (P-EBT) and the Farmers to Families Food Box Program (Food Box Program). Additionally, USDA implemented numerous policy changes that expanded the scope and coverage of existing programs. Together, these initiatives contributed to an increase in expenditures on food and nutrition assistance programs, which amounted to a historical inflation-adjusted high of $122.1 billion in fiscal year (FY) 2020 (October 1, 2019 to September 30, 2020). This report uses preliminary data from USDA’s Food and Nutrition Service (FNS) and Agricultural Marketing Service (AMS) to examine program trends in the largest U.S. food and nutrition assistance programs through FY 2020 and documents the many policy changes implemented since March 2020. It also summarizes a recent USDA, Economic Research Service report examining the prevalence of household food insecurity in the United States in 2019 and a working paper examining Supplemental Nutrition Assistance Program (SNAP) and P-EBT benefit redemptions during the pandemic. |
| Keywords: | Community/Rural/Urban Development, Consumer/Household Economics, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, Health Economics and Policy, Resource /Energy Economics and Policy |
| Date: | 2021–08–16 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usdami:313475&r= |
| By: | Strulik, Holger |
| Abstract: | In this paper, I combine economic theories of health behavior and addiction in order to explain the phenomenon of anorexia nervosa and its impact on health and longevity. Individuals consume normal goods and foods and can work off excess calories with physical exercise. There exists a healthy body mass index and deviations from it increasingly cause health deficits due to obesity or underweight. There exists also a subjective target weight and being heavier than target weight causes a loss of utility from body image. Individuals for whom the utility loss from missing target weight is large exert more weight control, i.e. they eat less and exercise more. Anorexia is initiated in individuals who are particularly successful in weight control and prone to addiction. Addiction to weight control motivates anorexic individuals to perpetually adjust their target weight downwards and to eat less and exercise more. With declining weight, health deficits accumulate faster and mortality risk rises. I calibrate the model to a reference American with bmi 28. Due to weight loss addiction, the bmi gradually declines to a level of 15 and causes a loss of 21 years of life expectancy at the age of 20. |
| Keywords: | weight control,addiction,eating disorder,physical exercise,healthde cits,mortality |
| JEL: | D11 D91 E21 I10 I12 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cegedp:429&r= |
| By: | Dong, Diansheng; Stewart, Hayden |
| Abstract: | Sales taxes on foods sold at grocery stores and/or restaurants exist in almost every county in the United States. By combining county-level sales tax data with U.S. Department of Agriculture’s (USDA) 2012–13 National Household Food Acquisition and Purchase Survey (FoodAPS), we examine the association between both types of taxes and a household’s spending on grocery and restaurant foods for three groups: USDA Supplemental Nutrition Assistance Program (SNAP) participants, households that are eligible for SNAP but do not participate in the program, and households that are not eligible for SNAP. We found that, among households that are eligible for SNAP but do not participate in the program, grocery taxes are associated with reduced spending on foods purchased for at-home consumption. No such association is found among the two other groups of households considered in this study, suggesting they are less sensitive to grocery taxes. SNAP households spend more money on foods purchased for at-home consumption in communities with higher restaurant taxes. |
| Keywords: | Agricultural and Food Policy, Consumer/Household Economics, Demand and Price Analysis, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, Public Economics |
| Date: | 2021–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usdami:313477&r= |
| By: | Mario Alloza (Banco de España); Víctor González-Díez (Banco de España); Enrique Moral-Benito (Banco de España); Patrocinio Tello-Casas (Banco de España) |
| Abstract: | Este documento analiza las diferencias que existen en la accesibilidad a servicios entre las zonas rurales y las urbanas en los países de la Unión Europea. Los resultados indican que, en España, las áreas rurales presentan una peor accesibilidad a servicios que sus homólogas europeas, mientras que las diferencias no son significativas en el caso de las áreas urbanas. La disponibilidad de información a nivel municipal para el caso español permite documentar un déficit en la accesibilidad a servicios de los municipios rurales frente a los urbanos dentro de cada comunidad autónoma. Asimismo, se observan algunas idiosincrasias en la geografía y en la fiscalidad de los municipios rurales que podrían explicar, al menos en parte, dicho déficit. |
| Keywords: | accesibilidad, servicios, áreas rurales y urbanas |
| JEL: | R10 I31 J11 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bde:opaper:2122&r= |
| By: | G\"uray Kara; Asgeir Tomasgard; Hossein Farahmand |
| Abstract: | The authors provide a comprehensive overview of flexibility characterization along the dimensions of time, spatiality, resource, and risk in power systems. These dimensions are discussed in relation to flexibility assets, products, and services, as well as new and existing flexibility market designs. The authors argue that flexibility should be evaluated based on the dimensions under discussion. Flexibility products and services can increase the efficiency of power systems and markets if flexibility assets and related services are taken into consideration and used along the time, geography, technology, and risk dimensions. Although it is possible to evaluate flexibility in existing market designs, a local flexibility market may be needed to exploit the value of the flexibility, depending on the dimensions of the flexibility products and services. To locate flexibility in power grids and prevent incorrect valuations, the authors also discuss TSO-DSO coordination along the four dimensions, and they present interrelations between flexibility dimensions, products, services, and related market designs for productive usage of flexible electricity. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.03000&r= |
| By: | Aguima Aimé Bernard Lompo (CERDI - Centre d'Études et de Recherches sur le Développement International - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne) |
| Abstract: | This study examines the effect of financial development on tax revenue mobilization in developing countries. Our empirical analysis uses the aggregate financial index that comprises the banking system's depth (size and activity), access, and efficiency of financial institutions and financial markets. Using panel data from developing countries over the period 1995-2017, our findings suggest that more developed financial sectors positively and significantly influence the government's ability to raise tax revenue. More interestingly, we find that this favorable effect is sensitive to developing countries characteristics, namely the level of economic development, the degree of financial openness and the stance of fiscal policies. When we more precisely look at the effects of disaggregated financial development components on tax revenues mobilization, we find that the estimated coefficients on the sub-components of financial development are statistically significant at least at 5 % of significance, except for the financial market's efficiency. The results denote that tax revenue in developing countries depends on financial institutions and financial markets. Finally, our results show that financial development contributes positively to tax revenue mobilization excluding resources. |
| Keywords: | Financial development,Economic growth |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03328502&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | The purpose of the research was to analyze the organizational factors with the performance of village midwives in providing maternal and child health services. The research type of quantitative method is analytic research with cross sectional approach. Research population of all village midwives who served in 5 (five) working areas of Puskesmas in North Tapanuli Regency. The sample of research using total sampling method as many as 120 people. Instrument of data collection used questionnaire. Data analysis used univariate analysis, bivariate with chi square test. The results showed that there was a relation between leadership (p <0.001), incentive (p <0.001) with village midwife performance in providing maternal and child health services. It is expected that the District Health Office of Tapanuli Utara District, in order to increase the incentives of the village midwife so that the village midwife is satisfied with adequate incentives and can show good performance in providing maternal and child health services |
| Date: | 2020–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:439mt&r= |
| By: | Xinghua Long; Rodrigo A. Velez |
| Abstract: | We introduce balancedness a fairness axiom in house allocation problems. It requires a mechanism to assign the top choice, the second top choice, and so on, on the same number of profiles for each agent. This axiom guarantees equal treatment of all agents at the stage in which the mechanism is announced when all preference profiles are equally likely. We show that, with an interesting exception for the three-agent case, Top Trading Cycles from individual endowments is the only mechanism that is balanced, efficient, and group strategy-proof. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.01992&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | The purpose of this study is to determine the effect of human resource competence on the implementation of performance-based budget in the Regional Financial Management Agency of North Nias Regency. The research method used in this research is the method of mixed methods, that is the combination of qualitative and quantitative research. The sample in this study amounted to 35 respondents. Based on purposive sampling. The location of this research is at the Regional Financial Management Agency of North Nias Regency. The result of the research shows that the competence of human resources bepengaruh positive and significant to the implementation of performance-based budget in the Regional Financial Management Agency of North Nias Regency with a value of 0.896 which means the correlation or the relationship between the variables of human resource competence to the implementation of performance-based budget has a strong relationship and is positive. |
| Date: | 2020–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:as7d3&r= |
| By: | Céline Merlin-Brogniart (CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique); Lars Fuglsang (Roskilde University); Ada Scupola (Roskilde University); Rolf Rønning (The Inland Norway University of Applied Sciences); Siv Magnussen (The Inland Norway University of Applied Sciences); Alberto Peralta (UAH - Universidad de Alcalá - University of Alcalá) |
| Abstract: | In the field of collaborative governance, governments tend to increasingly involve various actors to innovate in meeting social needs in terms of public services. This paper analyzes the key dimensions related to this type of governance in the scientific and grey literature of several European countries. Five research streams have been identified. One key dimension appears common to all countries: social entrepreneurship. Differences between countries are explained by the existence of different forms of welfare state. |
| Date: | 2021–01–21 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03332287&r= |
| By: | Hillesland, Marya; Kaaria, Susan; Mane, Erdgin; Alemu, Mihret; Slavchevska, Vanya |
| Abstract: | Using the project-Women’s Empowerment in Agricultural Index (pro-WEAI) survey tool developed by GAAP2, this study aims to estimate the impact of a microfinance ‘plus’ programme on women’s economic empowerment in communities in Oromia and Afar, Ethiopia. The programme incorporates multiple interventions, which are implemented through women-run rural savings and credit cooperatives (RUSACCOs), with the intention of improving beneficiary women’s decision-making over productive assets, control over income, and leadership in rural institutions. A major component of the programme is aimed at rural women’s greater access to credit, but interventions also include agricultural livestock and technology transfers, business training, as well as a community gender awareness component. A difference-in-difference estimator with Inverse Probability Weighting (IPW) is used to evaluate the impact of the programme on women’s empowerment in Oromia. Because of conflict in the area, baseline data collection was delayed and data was collected after some interventions had already begun in Oromia. As such, nearly all beneficiaries already had access to credit through the RUSACCOs at baseline, and both women and men were already empowered in a number of dimensions at baseline. Among households with beneficiaries who continued in good standing between baseline and midline, the programme positively contributed to both women’s and men’s empowerment with regards to respect among household members. It did not lead to additional impacts in terms of overall empowerment and gender parity within the household or across the other pro-WEAI indicators. However, it appears that, by maintaining good standing in the RUSACCOs, female participants were able to maintain high levels of empowerment across the other indicators. A second group of beneficiary women, who either chose to leave the RUSACCO or did not maintain good standing as a member, were also highly empowered across many dimensions at baseline but experienced large average decreases in empowerment across a number of indicators by midline. In Afar, using the midline data only, a single-difference estimator with Inverse Probability Weighting is used to evaluate the impact of the programme. In Afar, the programme had a significant impact on women’s overall empowerment. As we expected, given the nature of the programme, there were significant positive results in terms of access to and decisions on financial services, group membership, and membership in influential groups. There were also positive impacts on control over the use of income, suggesting that the programme contributed to greater control over the use of the output from agricultural activities and control over income from agricultural and non-agricultural activities. On the other hand, the programme also appears to have resulted in reduced empowerment on average with regards to autonomy in income. |
| Keywords: | ETHIOPIA; EAST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; programmes; gender; women; farmers; women farmers; pastoralists; equality; impact assessment; women's empowerment; microfinance; mixed model method; pro-WEAI; gender parity; agricultural households; Women’s Empowerment in Agriculture Index; WEAI |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2037&r= |
| By: | YOSHIDA Yushi; Weiyang ZHAI |
| Abstract: | We investigate the dynamics of Japan's income and trade balance between 1996:Q1 and 2019:Q4 via a structural VAR model. The two most important constituents of the current account (trade balance and income balance) and seven other macroeconomic variables are entered in our VAR model. We implement a shadow rate for the measure of monetary policy under the unconventional monetary policy regime, including a zero lower bound interest rate. By using a standard SVAR model from the literature, we find that world shocks dominate and rule the dynamics of Japan's current account. Through additional short-run zero restrictions, we also find that exogenous exchange rate shocks affect the current account. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:21077&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This study aims to examine the role of the Village Head of Pulo Brayan Bengkel, East Medan District, in increasing the participation of the community in the implementation of the UN. The method used in this research is concurrent mix method. The data collection techniques used in this study are questionnaires, in-depth interviews, observation, literature study, and documentation. Data analysis technique used in this research is concurrent triangulation that is quantitative and qualitative data is done simultaneously in one stage of research. The results showed that there are still people in Pulo Brayan Bengkel Village who have not fulfilled their duties as tax payers. This is evidenced by the realization of UN revenue that is still far from the target. |
| Date: | 2021–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:bc574&r= |
| By: | Yamashita, Takuro; Murooka, Takeshi |
| Abstract: | We consider an adverse selection environment between an informed seller and an uninformed buyer, where no trade occurs when all buyers are rational. The buyer may be a “behavioral” type in the sense that he may take actions different from a rational type. We show that, for any incentive-feasible mechanism with any non-trivial trade, the buyer’s ex-ante expected payoff is strictly negative. Our result implies that whenever trade occurs, some behavioral types must incur losses. |
| Keywords: | Adverse selection; Inferential naivety; Mechanism design; Behavioral contract theory; Consumer protection |
| JEL: | D82 D89 D90 D91 |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:125926&r= |
| By: | Chakravorty, Swastika; Goli, Srinivas |
| Abstract: | As demographic, economic and cultural shifts continue to diversify family structure, researchers need to explore new ways of conceptualizing and measuring family characteristics and economic outcomes. There are hardly any quantitative studies in India to understand the families from a demographic perspective and relate them to economic outcomes. Thus, we explore the plausible association between the family structure and economic outcomes and perceived change in economic well-being in India. This study conceptualized and adopted a demographic approach to derive family typologies that suit a developing country like India and its cultural context. The study uses the latest information based on India Human Development Survey, 2011-12 and applies robust statistical methods. The findings suggest that family structure makes a huge difference in their economic outcomes. Mostly the families with single residents (adult or older) and families with female children or older adults have a huge economic disadvantage compared to their counterparts. |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:23kvs&r= |
| By: | Alfred Galichon; Bernard Salani\'e |
| Abstract: | This paper provides an introduction to structural estimation methods for matching markets with transferable utility. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07932&r= |
| By: | Louis Charlot |
| Abstract: | The evaluation of a multifaceted program against extreme poverty in different developing countries gave encouraging results, but with important heterogeneity between countries. This master thesis proposes to study this heterogeneity with a Bayesian hierarchical analysis. The analysis we carry out with two different hierarchical models leads to a very low amount of pooling of information between countries, indicating that this observed heterogeneity should be interpreted mostly as true heterogeneity, and not as sampling error. We analyze the first order behavior of our hierarchical models, in order to understand what leads to this very low amount of pooling. We try to give to this work a didactic approach, with an introduction of Bayesian analysis and an explanation of the different modeling and computational choices of our analysis. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06759&r= |
| By: | Daisy Assmann Lima (Universidade Católica de Brasília); Philipp Ehrl (Universidade Católica de Brasília) |
| Abstract: | This paper conducts empirical research about the role of culture on internal migration in Brazil. To do so, we deploy data from the Latin American Public Opinion Project (LAPOP) and the 2010 Brazilian Census. Against the background of the gravitational model, we adopt the method Poisson Pseudo-Maximum Likelihood with Fixed Effects (PPMLFE) to account for econometric issues. The results obtained provide new evidence on the influence of the migrant’s perceptions about the push-pull factors of Brazilian municipalities. Traditionally, gravitational models apply features such as Gross Domestic Product per capita, unemployment rate, and population density to measure the attractiveness of cities. All in all, these insights on the migrant’s traits and perceptions about culture pave the way to design appropriate migration policies at the municipal level once migration supports, among others, renewal of the socioeconomic tissue. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:7&r= |
| By: | Appel, Franziska; Loewe, Axel |
| Abstract: | Forschungssoftware ist zu einem zentralen Gut der akademischen Forschung geworden. Sie ist oft das Rückgrat bestehender Forschungsmethoden, ermöglicht neue Forschungsmethoden, implementiert und bettet Forschungswissen ein und stellt selbst ein wesentliches Forschungsprodukt dar. Forschungssoftware muss nachhaltig sein, um bestehende Wissenschaft zu verstehen, zu replizieren, zu reproduzieren und darauf aufzubauen, um neue Forschung effektiv durchzuführen. Daher ist eine Änderung der Art und Weise erforderlich, wie die Entwicklung und Wartung von Forschungssoftware derzeit motiviert, incentiviert, finanziert, strukturell und infrastrukturell unterstützt und rechtlich behandelt wird. Geschieht dies nicht, gefährdet dies die Qualität und Validität der Forschung. Vor diesem Hintergrund trafen sich im November 2019 mehr als 50 Wissenschaftler:innen aus verschiedenen Institutionen zu einem DFG-Rundgespräch am RobertKoch-Institut, um Nachhaltigkeitsaspekte von Forschungssoftware zu diskutieren und auf die Notwendigkeit von Förderinstrumenten für die nachhaltige Entwicklung und Bereitstellung von Forschungssoftware aufmerksam zu machen. Das anschließend veröffentlichte Positionspapier (Anzt et al., 2021) wendet sich gezielt an politische und akademische Entscheidungsträger, um das Bewusstsein für die Bedeutung und den Bedarf einer nachhaltigen Forschungssoftwarepraxis zu schärfen. Insbesondere empfiehlt es Strategien und Maßnahmen, um ein Umfeld für nachhaltige Forschungssoftware zu schaffen. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iamopb:42&r= |
| By: | Isabel Argimón (Banco de España); María Rodríguez-Moreno (Banco de España) |
| Abstract: | Using Spanish confidential supervisory data, this paper examines the effect of geographic and business complexity, their interaction and relative importance for banks’ risk, where the degree of complexity stems from the corporate structure of banking groups affiliates. The results show that while business complexity results in higher risk, geographic complexity gives rise to diversification benefits, thus lowering risk. However, geographic complexity alone is not enough, as its effect depends on how it interacts with business complexity. Higher business complexity abroad in relation to that at home may counterbalance the benefits of diversification. In the same vein, focusing abroad on areas in which the group does not have expertise at home also results in higher risk. |
| Keywords: | risk, global banking, bank complexity, diversification benefits |
| JEL: | F21 F23 G21 G32 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2132&r= |
| By: | Jain, Neha (Indian Institute of Foreign Trade); Goli, Srinivas |
| Abstract: | India is on the edge of a demographic revolution with a rapidly rising working-age population. For the first time in this study, we investigate the role of the rising working-age population on per capita small savings in post offices and banks net of socio-economic characteristics using state-level panel data compiled from multiple sources for the period 2001-2018. Our comprehensive econometric assessment with multiple robustness checks provide three key findings: (1) Per capita private savings is increasing because of India’s growing working-age population, thus the ‘economic life cycle hypothesis’ is supported. (2) The demographic factors contribute around one-fourth of the per capita private savings inequality across Indian states. (3) The demographic window of economic opportunity for India can yield maximum benefits in terms of private savings when accompanied by favourable socio-economic policies on education, health, gender equity, and economic growth. |
| Date: | 2021–09–04 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:n73ab&r= |
| By: | Jain, Neha (Indian Institute of Foreign Trade); Goli, Srinivas |
| Abstract: | This paper projects potential demographic dividend for India for the period from 2001 to 2061 by using simulation modelling software, Spectrum 5.753 which integrates demographic and socio-economic changes. Two key findings, after checking their robustness, from the simulation modelling are: First, the effective demographic windows of opportunity for India is available for the period between 2011 and 2041, giving India roughly 30 years of demographic bonus. It is the period where the maximum of the first demographic dividend can be reaped before the ageing burden starts. Second, favourable demographic changes alone provide a demographic dividend of over 165,000 rupees (almost an additional 43 percentage) in terms of GDP per capita by 2061 when integrated with supporting socio-economic policy environment in terms of investment in human capital, family planning, decent employment opportunities, the rapid pace of urbanization, and agricultural growth. |
| Date: | 2021–09–05 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:rvf9n&r= |
| By: | Laurent Piet; Vincent Chatellier; Nathalie Delame; Philippe Jeanneaux; Cathie Laroche-Dupraz; Aude Ridier; Patrick Veysset |
| Abstract: | [in French] This article presents an analysis of the indicators used to measure farm income in France. While the chart of accounts defines the precise method of calculation of various intermediate management balances (including the gross added value, the gross operating surplus and the farm income), the statistical sources used to discuss the question of the level of 'income' of French farmers are diverse and the indicators used are not always homogeneous. This sometimes results in a fragility in the public expression on “farmers' income”. By matching two distinct sources of information over fifteen years (2003 to 2017), namely the Farm Accounting Data Network (Rica) produced by the Ministry of Agriculture and the database for self-employed contributors (COTNS) of the Caisse Centrale de la Mutualité Sociale Agricole (MSA), this article compares the level of several of these indicators. The matching was carried out using the SIRET number of the farms and methodological work was carried out so that the scope of the farms is common to both databases. It is thus highlighted that the 'agricultural profit' (from the MSA) is, on average, one third lower than the current result before tax (from the Rica), and that the amount of private withdrawals is weakly correlated to the accounting result or agricultural profit. Finally, a more specific analysis of ‘low incomes’ shows that, while the frequency of occurrence of such events obviously depends on the threshold chosen, the years 2009 and 2016 were particularly bad and cannot be considered representative of the average situation observed over the entire studied period. |
| Keywords: | Farm income, FADN, MSA, France |
| JEL: | Q12 H25 D31 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:rae:wpaper:202106&r= |
| By: | Jorge Tovar |
| Abstract: | Este documento estudia la relación entre la venta legal de cigarrillos, el contrabando y los impuestos al tabaco en Colombia. Mediante una aproximación econométrica en dos partes, se encuentra que (i) los impuestos se relacionan negativamente con las cantidades legales vendidas, y positivamente con las ventas de productos de contrabando y (ii) el incremento del contrabando impacta negativamente las cantidades legales vendidas. |
| Keywords: | Contrabando, Cigarrillos, Impuestos al tabaco |
| JEL: | H23 H25 L66 |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019554&r= |
| By: | Konstantin A. Kholodilin; Sebastian Kohl; Artem Korzhenevych; Linus Pfeiffer |
| Abstract: | Welfare is traditionally understood through social security decommodifying labor markets or social investment policies. In the domain of housing, however, welfare for homeowners is largely hidden in the tax codes’ fiscal exemptions. Based on a content analysis of legislation, this paper introduces a novel yearly database of 37 countries between 1910 and 2020 to uncover the “hidden welfare state” of taxes on imputed rent, deductibility of mortgage payments, housing capital gains tax and VAT on newly built dwellings. Summary indices of homeownership attractiveness and neutrality of the tax code show that fiscal homeownership policies have been in decline until the 1980s and risen ever since. They are in place where finance is liberally and labor restrictively regulated. Contrary to the classical welfare state, they are not associated with an economic logic of industrialism or left-wing governments, but a rent-regulation alternative of Common-Law jurisdictions and smaller countries. As welfare for property owners, the logic of fiscal homeownership welfare diverges from the classical welfare for the laboring classes. |
| Keywords: | Homeownership taxation attractiveness, tenure neutrality, leximetrics, international longitudinal data |
| JEL: | C43 H24 K25 R38 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1972&r= |
| By: | Nguyen, Minh-Hoang |
| Abstract: | In economics, hyperinflation is very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies, in recent history often the US dollar.[1] Prices typically remain stable in terms of other relatively stable currencies. ***** For archiving purpose only ***** |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:k78yv&r= |
| By: | SHIMIZU Mari |
| Abstract: | The panel in this case found many tariff measures targeting agricultural and manufacturing goods by Russia to be inconsistent with GATT Article II:1(b) (adopted without appeal). While the measures at issue include a type of tariff that has combined duty for both bound duty and applied duty, which requires complicated comparisons between the two rates, the panel clarified that the break-even point of custom price at which the applied duty exceeds the bound duty (break-even price) can be identified without detailed mathematical explanations, but by demonstrating examples of inconsistency that indicate the structure or design of the measure. These findings by the panel are appropriate as they are in line with the findings in prior cases that have held that, in light of the nature of tariff concession that requires stability and predictability, the violation of concession can be established by demonstrating that applied duty rates can exceed the bound duty rates based on the structure and design of the measure. Also, as the measures in this case include measures amended or terminated after the establishment of the panel and during the trial (so called "moving target(s)"), the identification of such measures and whether to make recommendations for them are included in the major issues in this case. The panel took an analytical and reasonable approach in identifying the measures to be reviewed taking into account the complainant's consent and the logical relationship among the relevant phases of measure, and making recommendations with a reservation of "to the extent that [the relevant measures] continue to be inconsistent." Whether the similar approach will be taken in future cases remains to be seen. The panel further held that, to establish an independent compounded measure by which certain types of tariff treatments are systematically accorded, individual applications need to be underlined by a system, rather than just being repeated, while it also held that it may be possible to infer the existence of a system when the repetition is so substantial as to render it more likely than not that the underlying system exists (in conclusion, the panel did not find that the existence of a systematically applied measure had been established in the current case). However, it may be questioned whether establishing criteria that would allow for the easier inference of the existence (i.e., the shift of burden of proof) of such issues, solely on the basis of frequency of repetition, would be appropriate. |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rpdpjp:21013&r= |
| By: | Lea Samek (OECD); Mariagrazia Squicciarini (OECD); Emile Cammeraat (OECD) |
| Abstract: | Building on recent OECD work, this paper analyses the skills sets (“skills bundles”) demanded in artificial intelligence (AI)-related online job postings. The analysis uses Burning Glass Technologies’ data for the United States and the United Kingdom and finds that skills related to the open source programming software Python and to machine learning represent “must-haves” for working with AI. Employers additionally value specialised skills related to robotics, AI development and applying AI. A comparison of the periods 2013-15 and 2017-19 shows that the latter two have become more interrelated over time, with “neural network” skills connecting both groups. Network analysis relating AI skills to general skills highlights the growing role of socio-emotional skills; and of skill bundles related to programming, management of big data and data analysis. Key results hold for both countries and time periods, though differences emerge across occupations and industries. |
| Keywords: | AI, Online jobs, Skill bundles, Skills |
| Date: | 2021–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:oec:stiaac:120-en&r= |
| By: | Vincent Chatellier; Cécile Detang-Dessendre; Pierre Dupraz; Hervé Guyomard |
| Abstract: | This article provides an overview of French agricultural incomes over the decade 2010-2019, notably of their heterogeneity according to production types, size and location. It illustrates their dependency on CAP budgetary support. On this basis, it analyses the sensitivity of incomes to different scenarios that modify the repartition of CAP direct aids. The first type of measures aims specifically at modifying the distribution of direct aids and incomes. Four simulations are performed corresponding to a measure in favour of small farms, alternative payment modalities for coupled aids to beef and dairy cattle, the full internal convergence of the basic payment per hectare, and a reinforcement of the redistributive payment on the first hectares. The second measures pursue climatic and environmental objectives but have also redistributive impacts. The first scenario corresponds to a transfer of 15 % of the budgetary envelope of the first pillar to climate and environmental measures and support for organic farming in the second pillar. The second scenario implements an eco-scheme targeted on the maintenance of permanent grasslands and the reduction of pesticide use. |
| Keywords: | CAP, France, National Strategic Plans (NSP), income, direct aids, FADN |
| JEL: | Q12 Q18 Q57 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:rae:wpaper:202103&r= |
| By: | Arifin, Antoni Ludfi |
| Abstract: | Peran korporasi juga perguruan tinggi dalam menciptakan SDM Unggul yang akan melahirkan pemimpin unggul tidak dapat dinafikan. Agregasi dari strategi tersebut adalah Indonesia Unggul, di mana SDM yang memiliki kompetensi teknis, perilaku, dan manajerial baik. Peningkatan kompetensi penting bagi kami—secara kompetensi teknis, SDM Cendekia menginisiasi peningkatan kecerdasan literasi dan kecerdasan digital. Kedua hal tersebut merupakan kompetensi mandatori di samping kompetensi lainnya. Buku ini merupakan antologi tulisan dari 27 praktisi dan akademikus yang membahas peningkatan SDM Indonesia dari sudut pandang praksis empiris dan kajian teoritis. Melalui buku ini—komunitas SDM Cendekia menawarkan jalan berpikir dalam mengembangkan SDM yang kompetitif menuju organisasi unggul. |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:adw3t&r= |
| By: | Andrea Borsato |
| Abstract: | The main purpose of this article is to show how simple matching protocols suitable for agent-based models can be developed from scratch. Keeping the feature of the underlying economy at minimum, I develop, detail, and present the code for three matching processes. Their small size and flexibility may act as a stimulus to non-expert students to undertake such stream of literature and address a variety of research topics. |
| Keywords: | Agent-based Modelling, Matching Protocols, Computer Simulation, Linear Matrix Algebra, R. |
| JEL: | A20 C63 E10 O10 O30 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2021-35&r= |
| By: | Sevilla Casas Elias |
| Abstract: | Se presenta una herramienta técnica para, dentro de un planteamiento metodológico riguroso, adelantar la revisión de la literatura pertinente a un problema concreto de investigación en las ciencias sociales. El artefacto llamado ‘Plano 4T’ permite atender a la doble responsabilidad epistémica y ética de producir conocimiento nuevo de calidad que ayude a la comunidad humana de referencia. Se muestra cómo el razonamiento analógico es la mejor manera de construir un adecuado ‘estado del arte’ para perfilar el objeto de investigación, traducible luego a ‘preguntas’, ‘hipótesis´ y ‘objetivos’ del diseño del proyecto. El plano permite entonces --una vez tomada la decisión ética sobre ‘qué’ investigar, ‘por qué’ y ‘para qué’ – resolver el problema técnico de ´cómo’ recoger y utilizar de modo eficiente la literatura de soporte. |
| Keywords: | Metodología, estado del arte, revisión de la literatura, razonamientoanalógico, diseño de investigación, Open Access |
| Date: | 2021–07–30 |
| URL: | http://d.repec.org/n?u=RePEc:col:000149:019565&r= |
| By: | Lokdam, Hjalte |
| Abstract: | This paper argues that the Economic and Monetary Union (EMU) created at Maastricht conformed to the neoliberal theory of interstate federalism in seeking to constitute structural conditions that circumscribed the effective exercise of activist public authority at both the Member State and European level. A response to a perceived ‘crisis of governability,’ it was designed to address the problem of excessive, and ineffective, governmental interventions in economic matters. By separating monetary and fiscal policy, the EMU ensured that no single public authority at the Member State or European level could control all the main levers of economic government. The Eurozone Crisis challenged this construct by emphasising the need for a coherent and effective exercise of public authority. The problem was thus no longer an excess of government but the absence of effective governmental authority for the EMU as a whole. Eurozone Crisis reforms introduced a greater scope for federal interventions in the domestic affairs of Member States and such reforms have elicited a new constitutional imaginary, expressed by European elites, that emphasises the need to generate ‘European sovereignty.’ This imaginary departs radically from the original EMU by foreseeing an omnicompetent European governmental apparatus that is able to intervene in, and control, economic developments across the Union in accordance with political objectives. The constitutional imaginary of the EMU can thus no longer meaningfully be called neoliberal. The early response to the COVID-19 Crisis, furthermore, highlights that the objectives pursued under the reformed EMU may depart from the set of policies traditionally associated with neoliberalism. What it should be called instead, however, remains unclear. |
| Keywords: | Economic and Monetary Union; Eurozone Crisis; neoliberalism; federalism; economic constitution; law and political economy |
| JEL: | F3 G3 |
| Date: | 2021–01–13 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111882&r= |
| By: | Ernest Aigner |
| Abstract: | The structure of academic economics has received a fair amount of attention within and beyond the discipline. Less focus has been given the interdependencies of country and global dynamics. Building and advancing this tradition, this explorative study examines geographic variation and country specific developments in research practices in academic economics. More specifically I investigate the interdependencies of global dynamics with country-level developments in the US, Germany, UK, France, Switzerland and Austria. To that purpose the study investigates a large-scale data set using inequality measures and social network analysis. The dataset analysed in this study comprises 453,863 articles published in 477 journals citing each other a total of 3,807,289 times. This exploratory study confirms the high level of concentration and finds similar trends on the country level. Further, an international convergence in the discipline can be observed, possibly limiting the place-specific relevance of knowledge created in academic economics. |
| Keywords: | economic sociology, academic economics, citation analysis, heterodox economics, concentration, geography of economics |
| JEL: | N00 Z1 B3 B5 B00 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwsre:sre-disc-2021_07&r= |
| By: | Bardt, Hubertus; Plünnecke, Axel |
| Abstract: | Die deutsche Wirtschaft wird von einer Reihe potenziell disruptiver Veränderungen herausgefordert. Dazu gehört beispielsweise der umfassende Klimaschutz oder die Digitalisierung. Während einzelne dieser grundlegenden Veränderungen bereits alle Anstrengung erfordern, um Geschäftsmodelle anzupassen und auch zukünftig noch erfolgreich sein zu können, sehen sich viele Unternehmen mit mehreren solcher Strukturfragen gleichzeitig konfrontiert. Multiple Disruption droht vor allem in starken Branchen wie Maschinenbau/Elektroindustrie/Fahrzeugbau, der Metallerzeugung und -bearbeitung sowie der Chemie. Zur Bewältigung der Herausforderungen wünschen sich die Unternehmen mehr Investitionen der Politik in die digitale Infrastruktur, Bildung und Forschung sowie eine robustere Handelspolitik. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwkkur:562021&r= |
| By: | Zhang, Lin; Wei, Yahui; HUANG, Ying; Sivertsen, Gunnar |
| Abstract: | There is widespread agreement that questionable journals pose a threat to the integrity of scholarly publishing and the credibility of academic research. However, there is currently no agreed upon definition of what constitutes a questionable journal. The characteristics of questionable journals have not been delineated, standardized, nor broadly accepted. A series of policy initiatives by the central Chinese government has culminated in the now Early Warning List of International Journals, released by the National Science Library of the Chinese Academy of Sciences – 65 journals that Chinese scholars should be wary of publishing in. Taking this List as a litmus test, we analyze the characteristics of each journal focusing on a definitive set of factors that may see a journal included on the List. We not only include the factors applied by the publisher of the List, such as the article processing charges, the retraction rate etc., but also investigate several other factors. Most of the factors are found to influence the List, while some are not. In fact, many of the journals on the List are highly ranked by impact factors. Our study aims to provide empirical information supporting global attempts to mitigate the pervading phenomenon of questionable journals. |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:94v5m&r= |
| By: | Reinhard Ellwanger, Stephen Snudden (Wilfrid Laurier University) |
| Abstract: | Macroeconomic series are often aggregated from higher-frequency data. We show that this seemingly innocent feature has far-reaching consequences for the predictability of such series. First, the series are predictable by construction. Second, conventional tests of predictability are less informative about the data-generating process than frequently assumed. Third, a simple improvement to the conventional test leads to a sizeable correction, making it necessary to re-evaluate existing forecasting approaches. Fourth, forecasting models should be estimated with end-of-period observations even when the goal is to forecast the aggregated series. We highlight the relevance of these insights for forecasts of several macroeconomic variables. |
| Keywords: | Forecasting and Prediction Methods, Interest Rates, Exchange Rates, Asset Prices, Oil Prices, Commodity Prices |
| JEL: | C1 C53 E47 F37 G17 Q47 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:wlu:lcerpa:bm0127&r= |
| By: | Carol Alexander; Jun Deng; Jianfen Feng; Huning Wan |
| Abstract: | How do supply and demand from informed traders drive market prices of bitcoin options? Deribit options tick-level data supports the limits-to-arbitrage hypothesis about market maker's supply. The main demand-side effects are that at-the-money option prices are largely driven by volatility traders and out-of-the-money options are simultaneously driven by volatility traders and those with proprietary information about the direction of future bitcoin price movements. The demand-side trading results contrast with prior studies on established options markets in the US and Asia, but we also show that Deribit is rapidly evolving into a more efficient channel for aggregating information from informed traders. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02776&r= |
| By: | Paul Fiedler |
| Abstract: | Literature encompassing economic insecurity and its relationship with mental health has increased significantly in recent years. While the association of job insecurity and mental health has been researched extensively, less is known about the general relationship between economic insecurity and mental health. This paper analyses the simultaneous influence of six different economic insecurity indicators on mental health focusing on private sector employees. Using German longitudinal micro-data and applying a fixed effects model, this paper finds a significant negative relationship between a broad range of economic insecurity factors and mental health. Specifically, the relationship stems from self-perceived risks such as economic anxiety and job insecurity as opposed to macro-economic anxiety or objective factors, such as workforce reductions or substantial income losses. This strongly suggests that subjective measures of economic insecurity matter more for mental health than objective ones. Furthermore, the empirical results are robust with respect to various model specifications. From a policy perspective, this paper calls for improved provision of mental health services and also an increased awareness of mental health problems combined with generally de-tabooing the discussion of mental health. |
| Keywords: | mental health, economic insecurity, fixed effects, private sector employees, SOEP |
| JEL: | I14 I31 J01 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp1145&r= |
| By: | Job Boerma; Aleh Tsyvinski; Alexander P. Zimin |
| Abstract: | We fully solve an assignment problem with heterogeneous firms and multiple heterogeneous workers whose skills are imperfect substitutes, that is, when production is submodular. We show that sorting is neither positive nor negative and is characterized sufficiently by two regions. In the first region, mediocre firms sort with mediocre workers and coworkers such that output losses are equal across all these pairings (complete mixing). In the second region, high skill workers sort with a low skill coworker and a high productivity firm, while high productivity firms employ a low skill worker and a high skill coworker (pairwise countermonotonicity). The equilibrium assignment is also necessarily characterized by product countermonotonicity, meaning that sorting is negative for each dimension of heterogeneity with the product of heterogeneity in the other dimensions. The equilibrium assignment as well as wages and firm values are completely characterized in closed form. We illustrate our theory with an application to show that our model is consistent with the observed dispersion of earnings within and across U.S. firms. Our counterfactual analysis gives evidence that the change in the firm project distribution between 1981 and 2013 has a larger effect on the observed change in earnings dispersion than the change in the worker skill distribution. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02730&r= |
| By: | Daniele Girardi (Department of Economics, University of Massachusetts Amherst (USA)) |
| Abstract: | This paper surveys the neoclassical theory of aggregate investment and its criticisms. We identify four main strands in neoclassical investment theory: (i) the traditional Wicksellian model; (ii) the Fisherian ‘array-of-opportunities’ approach; (iii) the Jorgensonian model; (iv) the now prevailing adjustment cost models. We summarize each approach, discuss the main conceptual issues, and highlight similarities and differences between them. We also provide a systematic summary and discussion of the main criticisms that have been leveled at each of these models and highlight some unresolved theoretical issues. |
| Keywords: | investment, neoclassical theory, adjustment costs |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-11&r= |
| By: | Hariharan, Naveen Kunnathuvalappil |
| Abstract: | Only when the input data is reliable can mathematical models and business intelligence systems for decisionmaking produce accurate and effective outputs. However, data taken from primary sources and gathered in a data mart may contain several anomalies that analysts must identify and correct. This research covers the activities involved in creating a high-quality dataset for business intelligence and data mining. Three techniques are addressed to achieve this goal: data validation, which detects and reduce anomalies and inconsistencies; data modification, which enhances the precision and robustness of learning algorithms; and data reduction, which produces a set of data with fewer characteristics and records but is just as insightful as the original dataset. |
| Date: | 2019–12–22 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:w7n26&r= |
| By: | Gregorio Curello |
| Abstract: | Innovators with shared interests face a dynamic collective-action problem with two special features: uncertainty about the returns to (research) effort, and an exploration-exploitation trade-off in which exploitation becomes more attractive as discoveries accumulate. I study this problem in a general model with long-lived firms that exert effort to obtain improvements of random size in a technology they share. The firms' flow payoffs grow as the technology improves, but so does the marginal cost of effort. In (the unique symmetric Markov) equilibrium, small discoveries may hurt all firms simultaneously as they drastically reduce effort. Allowing each firm to discard the innovations it obtains (after observing their size) yields uniformly higher effort and welfare in equilibrium. If firms may instead conceal innovations from the others for a period of time, under linear payoffs, there exists an equilibrium in which improvements are kept secret until they reach a cutoff, and effort stops after disclosure. Although concealment is inefficient due to forgone benefits and the risk of redundancy, firms may be better off compared to the baseline equilibrium with forced disclosure. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.01885&r= |
| By: | Oliver Hümbelin; Lukas Hobi; Robert Fluder |
| Abstract: | In many countries, it is difficult to study subnational poverty patterns, as official statistics often rely on surveys with limited ability to disaggregate regionally. This is a drawback because the social and economic structure varies within countries, which has a significant impact on who lives below the poverty line. To address poverty, it is therefore important to further understand urban/rural differences. In this context, administrative data-based approaches offer new opportunities. This paper contributes to the field of territorial poverty studies by using linked tax data to examine poverty in a large political district in Switzerland with 1 million inhabitants and large rural and urban parts. We measure poverty using income and financial reserves (asset-based poverty) and examine poverty in urban and rural areas. By doing so we can compare the social structure of the poor in detail. We then use random forest based variable importance analysis to see whether the importance of poverty risks factors differs in urban and rural parts. We can show that poor people in rural areas are more likely to be of retirement age compared to the urban parts. Among the workforce, the share of poor is higher for those who work in agriculture compared to those working in industry or the service sector. In urban areas, the poor are more often freelancers and people of foreign origin. Despite on where they live, people with no or little education, single parents, and people working in gastronomy/tourism are disproportionately often poor. With respect to risk factors, we find that the general opportunity structure like density of workplaces or aggravated access in mountain areas seem to be of minor importance compared to risk factors that relate to the immediate social situation. Low attachment to the labor market is by far the most important characteristic predicting poverty on the household level. However, the sector of occupation is of big importance too. Since the possibilities to engage in a specific occupation is linked to the regional opportunity structure, this result fosters the argument that territorial opportunities matter. The importance of the sector of occupation is especially dominant predicting poor households in rural parts. |
| Keywords: | poverty, poverty risk factors, regional difference, admin-data, random forest |
| JEL: | I32 |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:bss:wpaper:40&r= |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | This quarterly market report was developed by researchers at IFPRI Malawi with the goal of providing clear and accurate information on the variation of weekly and monthly retail prices of selected agricultural commodities that are important for food security and nutrition in Malawi. The reports are intended as a resource for those interested in agricultural markets in Malawi. |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, livestock, prices, food prices, chickens, eggs, retail prices, goat meat, livestock products, fish |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspb:quarterly3b&r= |
| By: | Perepolkin, Dmytro; Goodrich, Benjamin; Sahlin, Ullrika |
| Abstract: | This paper extends the application of Bayesian inference to probability distributions defined in terms of its quantile function. We describe the method of *indirect likelihood* to be used in the Bayesian models with sampling distributions which lack an explicit cumulative distribution function. We provide examples and demonstrate the equivalence of the "quantile-based" (indirect) likelihood to the conventional "density-defined" (direct) likelihood. We consider practical aspects of the numerical inversion of quantile function by root-finding required by the indirect likelihood method. In particular, we consider a problem of ensuring the validity of an arbitrary quantile function with the help of Chebyshev polynomials and provide useful tips and implementation of these algorithms in Stan and R. We also extend the same method to propose the definition of an *indirect prior* and discuss the situations where it can be useful |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:enzgs&r= |
| By: | Kukic, Leonard |
| Abstract: | The existing studies usually find that technical change was very important in constraining the economic growth of the Soviet Union. While these studies have been successful in quantifying the extent of technical change, they have been less successful in quantifying its nature. This paper probes the essence of technical change by analysing its direction and bias. I find that the Soviet Union achieved strong increases in labour efficiency until the 1960s. Although the labour efficiency growth subsequently slowed down, it is capital efficiency that drove the postwar slowdown in economic growth. I argue that labour shortages, combined with an inadequate investment policy, retarded the Soviet capital efficiency. |
| Keywords: | Soviet Union; Economic Growth; Technical Change; Economic History |
| JEL: | O47 O33 N14 P27 |
| Date: | 2021–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:cte:whrepe:33259&r= |
| By: | Schneider, Martin R. |
| Abstract: | The varieties-of-capitalism (VoC) approach distinguishes liberal market economies (LMEs) such as the USA and coordinated market economies (CMEs) such as Germany based on institutional differences in terms of corporate governance, industrial relations, company relations as well as education and training. According to the VoC approach, firms differ in the ways in which they combine market and non-market mechanisms to coordinate their activities. Firms in LMEs are considered to rely more on market or exit mechanisms than firms in CMEs, which more often complement market with non-market or voice mechanisms. This chapter summarizes what has been learned from the VoC approach on the linkages between the institutional environment and labor-management relations. Various important lessons can be drawn. Employment protection legislation is a productive element within the institutional setup of CMEs. LMEs tend to induce strong overall wage dispersion, whereas in some CMEs such as Germany the labor market performance varies markedly by skill type and gender. The recent literature also indicates that the institutional setup is more complex than the VoC approach suggests, calling for revisions to the approach. In particular, some countries are hybrid economies that combine elements of both types of capitalism. The CME-LME dichotomy does not appreciate the true variety of country-specific skill systems. Finally, multinational enterprises overcome institutional boundaries of different types of capitalism in ways that were not included in the original VoC approach. |
| Keywords: | varieties of capitalism,employment relationship,skill systems,employment protection |
| JEL: | J50 M12 P17 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:934&r= |
| By: | Smolin, Alex; Doval, Laura |
| Abstract: | We study the payoffs that can arise under some information structure from an interim perspective. There is a set of types distributed according to some prior distribution and a payoff function that assigns a value to each pair of a type and a belief over the types. Any information structure induces an interim payoff profile which describes, for each type, the expected payoff under the information structure conditional on the type. We characterize the set of all interim payoff profiles consistent with some information structure. We illustrate our results through applications. |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:125927&r= |
| By: | Saito, Nagayuki |
| Abstract: | In recent years, the use of artificial intelligence (AI) has become widespread in society, and the need for ethical considerations regarding its development and operation has been discussed. However, despite the fact that those considerations are equally important for both adults and children, discussions on ethical guidelines based on the impact of international AI on children have not progressed. This study examined the requirements for child-centered AI ethics guidelines based on the United Nations' "Children's Rights Convention." As a result, it became clear that it is necessary to develop AI based on the child's developmental stage, secure a usage environment, and educate the government and industry about the peculiar characteristics of children. |
| Keywords: | Children,Artificial Intelligence (AI),Ethics Guidelines,UNCRC,Rights and Protection |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238051&r= |
| By: | Durlauf, Steven N.; Kourtellos, Andros; Tan, Chih Ming |
| Abstract: | This paper provides a synthesis of theoretical and empirical work on the Great Gatsby Curve, the positive empirical relationship between cross-section income inequality and persistence of income across generations. We present statistical models of income dynamics that mechanically give rise to the relationship between inequality and mobility. Five distinct classes of theories, including models on family investments, skills, social influences, political economy, and aspirations are developed, each providing a behavioral mechanism to explain the relationship. Finally, we review empirical studies that provide evidence of the curve for a range of contexts and socioeconomic outcomes as well as explore evidence on mechanisms. (Stone Center on Socio-Economic Inequality Working Paper) |
| Date: | 2021–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:mrw9y&r= |
| By: | Henri Njangang (LAREFA, University of Dschang, Cameroon); Alim Beleck (HTTTC, University of Bamenda); Sosson Tadadjeu (LAREFA, University of Dschang, Cameroon.); Brice Kamguia (LAREFA, University of Dschang, Cameroon.) |
| Abstract: | Surprisingly, little is known about the cross-country effect of information and communication technology (ICT) on wealth inequality. At the same time, there is some tentative evidence suggesting that information and communication technology is positively correlated with income inequality. However, whether and how ICT affects wealth inequality is less explored, particularly because of the lack of reliable data on wealth inequality. This paper, therefore, fills this gap and contributes to this new literature by investigating the effect of ICT on wealth inequality in a sample of 45 developed and developing countries over the period 2000-2017. ICT is measured with six different indicators (including internet penetration, mobile penetration, ICT service exports, the ICT index, ICT quality, and ICT quantity), while wealth inequality is measured with three different indicators (comprising billionaire wealth to GDP, the Top 1% wealth share, and the Top 10% wealth share). The empirical analysis is based on the Generalised Method of Moments, and the results show that ICT increases wealth inequality. Furthermore, we show that democracy mitigates the increasing effect of ICT on wealth inequality. This result suggests that improving democracy in both developed and developing countries is an effective mechanism for mitigating the effects of ICT on wealth inequality. Therefore, we encourage efforts to implement democratic institutions that ensure respect for citizens' freedoms, greater democratic accountability, and executive constraints that allow for a more egalitarian distribution of wealth. |
| Keywords: | ICT; Wealth inequality; Panel data |
| JEL: | O15 O50 Q55 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:21/057&r= |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Stenkula, Mikael (Research Institute of Industrial Economics (IFN)) |
| Abstract: | William J. Baumol was one of the most prolific economists of his generation, analyzing a broad range of central economic issues addressing real problems of the world. In this essay, we present and critically evaluate Baumol’s research contributions in entrepreneurship economics and point to areas for future research. Baumol contributed an impressive number of important insights, increasing our understanding of entrepreneurship from both a macro and a micro perspective. He also devoted a large part of his writings to discussing public policy, linking his theoretical insights with policy issues in practice. His analyses are rooted in contemporary mainstream neoclassical economics, and one of his main objectives was to integrate the entrepreneur into this tradition. Today, Baumol is best known for his tripartite distinction between productive, unproductive, and destructive entrepreneurship and his associated idea that the institutional framework, “the rules of the game,” will determine how entrepreneurs allocate their time and effort across different—productive or unproductive—activities. An institutional environment that encourages productive entrepreneurship and spontaneous experimentation while disincentivizing unproductive activities becomes, through this insightful lens, the driving force of economic growth. As an economist, Baumol was knowledgeable and well acquainted with earlier scholars and their writings about entrepreneurship. Baumol’s writings were greatly inspired by Joseph Schumpeter’s views on entrepreneurship, and he made several attempts to formalize Schumpeter’s concept of the innovative entrepreneur. Baumol was in all senses an innovative contributor to entrepreneurship economics. His work has inspired the research community of entrepreneurship scholars, but like all great scientists, he also encountered criticism. |
| Keywords: | Entrepreneurship; Innovation; Institutions; Rent seeking |
| JEL: | B41 D02 J48 L26 L53 O31 Z10 |
| Date: | 2021–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1403&r= |
| By: | Henri Njangang (LAREFA, University of Dschang, Cameroon); Alim Beleck (HTTTC, University of Bamenda); Sosson Tadadjeu (LAREFA, University of Dschang, Cameroon.); Brice Kamguia (LAREFA, University of Dschang, Cameroon.) |
| Abstract: | Surprisingly, little is known about the cross-country effect of information and communication technology (ICT) on wealth inequality. At the same time, there is some tentative evidence suggesting that information and communication technology is positively correlated with income inequality. However, whether and how ICT affects wealth inequality is less explored, particularly because of the lack of reliable data on wealth inequality. This paper, therefore, fills this gap and contributes to this new literature by investigating the effect of ICT on wealth inequality in a sample of 45 developed and developing countries over the period 2000-2017. ICT is measured with six different indicators (including internet penetration, mobile penetration, ICT service exports, the ICT index, ICT quality, and ICT quantity), while wealth inequality is measured with three different indicators (comprising billionaire wealth to GDP, the Top 1% wealth share, and the Top 10% wealth share). The empirical analysis is based on the Generalised Method of Moments, and the results show that ICT increases wealth inequality. Furthermore, we show that democracy mitigates the increasing effect of ICT on wealth inequality. This result suggests that improving democracy in both developed and developing countries is an effective mechanism for mitigating the effects of ICT on wealth inequality. Therefore, we encourage efforts to implement democratic institutions that ensure respect for citizens' freedoms, greater democratic accountability, and executive constraints that allow for a more egalitarian distribution of wealth. |
| Keywords: | ICT; Wealth inequality; Panel data |
| JEL: | O15 O50 Q55 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:21/057&r= |
| By: | Clémence Christin (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); Jean-Philippe Nicolaï (EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique); Jérôme Pouyet (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université, ESSEC Business School - Essec Business School) |
| Abstract: | This paper examines, under imperfect competition, the effect of a cap-and-trade system on industry profits and the interaction between cap-and-trade system and the evolution of the market structure, both depending on the type of abatement technologies used by firms. Two extreme types are considered: end-of-pipe abatement technology-meaning, filtration and other mechanisms that are largely independent of production decisionsand process-integrated technology, which entails integrating cleaner or more energy-efficient methods into production. This paper prescribes that the distribution of free allocation should depend on the kind of abatement technologies. Finally, a reserve of pollution permits for new entrants is justified when the industry uses a process-integrated abatement technology, while a system with a preemption right may be justified in the case of end-of-pipe abatement technology. |
| Keywords: | cap-and-trade system,imperfect competition,end-of-pipe abatement,process-integrated abatement,reserve for entrants |
| Date: | 2021–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03328947&r= |
| By: | Mario Alloza (Banco de España); Javier Andrés (Universidad de Valencia); Pablo Burriel (Banco de España); Iván Kataryniuk (Banco de España); Javier J. Pérez (Banco de España); Juan Luis Vega (Banco de España) |
| Abstract: | The main proposals for the reform of the European Union’s fiscal policy framework affect three blocks of issues: (i) simplifying the rules to make them more transparent and flexible; (ii) incorporating new supranational risk-sharing instruments into the Economic and Monetary Union, in particular to facilitate the absorption of severe shocks; and (iii) the fiscal aspects necessarily being accompanied by reforms at the national (structural reforms) and supranational (e.g. pressing forward with the capital markets union) levels. Irrespective of their political feasibility, these proposals do not easily fit the current macroeconomic environment, which is far removed from that of the 1990s: structural trends, such as digitalisation, globalisation, the climate transition and population ageing, affecting the natural rates of interest and potential growth are emerging or taking hold. Also, after the Great Moderation, we have entered a period of severe global shocks. In this paper we argue that this setting calls for a paradigm shift in how the fiscal policy framework is designed, as opposed to the incremental reform approach of recent decades. This should include improved governance of fiscal rules, which should be simpler, more functional and more credible than the current ones, but it should also go a step further and incorpórate supranational risk-sharing components enabling the smooth operation of the monetary and fiscal policy mix, from a wider euro area perspective. We provide quantitative elements to illustrate several challenges with a bearing on any reform process in the current setting: (i) medium-term debt anchors should be adapted to the medium and long-term interest rate and potential growth expectations; (ii) economies may remain subject to very severe shocks, meaning that fiscal space must be recovered in the medium term; and (iii) realistic mechanisms for absorbing existing fiscal imbalances must be implemented. |
| Keywords: | fiscal policy, fiscal governance, fiscal rules, public debt, public deficit, interest rates |
| JEL: | E62 E63 H60 H61 H62 H63 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:opaper:2121e&r= |
| By: | Coenen, Günter; Montes-Galdón, Carlos; Schmidt, Sebastian |
| Abstract: | The secular decline in the equilibrium real interest rate observed over the past decades has materially limited the room for policy-rate reductions in recessions, and has led to a marked increase in the incidence of episodes where policy rates are likely to be at, or near, the effective lower bound on nominal interest rates. Using the ECB's New Area-Wide Model, we show that, if unaddressed, the effective lower bound can cause substantial costs in terms of worsened macroeconomic performance, as re ected in negative biases in in ation and economic activity, as well as heightened macroeconomic volatility. These costs can be mitigated by the use of nonstandard instruments, notably the joint use of interest-rate forward guidance and large-scale asset purchases. When considering alternatives to in ation targeting, wefind that make-up strategies such as price-level targeting and average-in ation targeting can, if they are well-understood by the private sector, largely undo the negative biases and heightened volatility induced by the effective lower bound. |
| Keywords: | Effective lower bound,monetary policy,asset purchases,forward guidance,make-up strategies |
| JEL: | E31 E32 E37 E52 E58 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cfswop:656&r= |
| By: | Andrew L. Allan; Christa Cuchiero; Chong Liu; David J. Pr\"omel |
| Abstract: | Based on a rough path foundation, we develop a model-free approach to stochastic portfolio theory (SPT). Our approach allows to handle significantly more general portfolios compared to previous model-free approaches based on F\"ollmer integration. Without the assumption of any underlying probabilistic model, we prove pathwise Master formulae analogous to those of classical SPT, describing the growth of wealth processes associated to functionally generated portfolios relative to the market portfolio. We show that the appropriately scaled asymptotic growth rate of a far reaching generalization of Cover's universal portfolio based on controlled paths coincides with that of the best retrospectively chosen portfolio within this class. We provide several novel results concerning rough integration, and highlight the advantages of the rough path approach by considering (non-functionally generated) log-optimal portfolios in an ergodic It\^o diffusion setting. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.01843&r= |
| By: | Anne Lauringson; Marius Lüske |
| Abstract: | This study provides a framework to compare and classify the institutional set-up of active labour market policy (ALMP) provision across countries, which is a key determinant of how well ALMP systems can respond to changing labour market needs, e.g. in response to the COVID-19 crisis. The paper builds on an OECD-EC questionnaire on “Active labour market policy measures to mitigate the rise in (long-term) unemployment” filled in by OECD and EU countries in the last quarter of 2020. The paper presents a dashboard of the institutional set-up of ALMP provision in 43 OECD and EU countries, which classifies the ALMP systems of different countries according to their organisational set-up (i.e. division of responsibilities between key stakeholders), their regulatory set-up (i.e. key legislation regulating ALMP provision) and their capacity to deliver employment support services (i.e. resources available). |
| Keywords: | activation, active labour market policies, labour market institutions |
| JEL: | J08 H11 H50 |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaab:262-en&r= |
| By: | Mosca, Irene; Wright, Robert E. |
| Abstract: | A Marriage Bar is the requirement that women working in certain jobs must leave that job when they marry. In the twentieth century, Marriage Bars were not unusual internationally. In the late 1800s to early 1900s, legislative provisions that required women to resign at marriage were introduced in several countries around the world, including Australia, Canada, Ireland, the Netherlands and the UK. Spill-overs to jobs not strictly covered by the Marriage Bar were also common. This chapter critically reviews, from an economics perspective, the background, the history and the impacts of Marriage Bars. This chapter has four aims. The first is to summarise the arguments provided by government officials and employers to justify both the introduction and the retention of Marriage Bars. The second is to provide a cross-country comparison of Marriage Bars. The third is to investigate the potential impacts of the Marriage Bar on women's behavior with respect to employment, marriage and education. The fourth is to highlight potential avenues for future research. Although Marriage Bars do not exist anymore, they are still a serious topic of current debate. Much more can be learned about important topics, such as discrimination, from carrying out research focused on Marriage Bars. |
| Keywords: | Marriage Bar,international,women,behavior |
| JEL: | J2 J4 J7 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:933&r= |
| By: | Fabián Mauricio Rincón Jaimes |
| Abstract: | Este documento evalúa el efecto de las ganancias potenciales asociadas al traslado sobre las decisiones de cambio de régimen pensional en Colombia. El sistema pensional actual genera diferencias en los beneficios pensionales esperados dependiendo del régimen pensional elegido: Régimen de Ahorro Individual con Solidaridad (RAIS) o Régimen Solidario de Prima Media con Prestación Definida (RPM). Se evalúa si estas diferencias son determinantes en la selección del régimen pensional definitivo de los afiliados. Se emplean datos individuales de ahorro pensional y traslados definitivos de afiliados a RAIS en 2015. Para la identificación del efecto, se explotan disposiciones normativas que generan no linealidades en los beneficios potenciales del traslado. Se encuentra que un incremento de 10 puntos porcentuales (p.p.) en la diferencia de la tasa de reemplazo potencial entre el RPM y el RAIS genera un incremento estadísticamente significativo de 1,2 p.p. en la probabilidad de traslado definitivo a RPM, sobre una base promedio de traslados definitivos de 10,4%. Para el diseño de reformas pensionales en Colombia, se sugiere considerar el incremento en el costo fiscal asociado a la existencia de ganancias de traslado hacia el RPM, para generar mecanismos que procuren la sostenibilidad del sistema y la progresividad en la asignación de subsidios. |
| Keywords: | Este documento evalúa el efecto de las ganancias potenciales asociadas al traslado sobre lasdecisiones de cambio de régimen pensional en Colombia. El sistema pensional actual generadiferencias en los beneficios pensionales esperados dependiendo del régimen pensional elegido:Régimen de Ahorro Individual con Solidaridad (RAIS) o Régimen Solidario de Prima Media conPrestación Definida (RPM). Se evalúa si estas diferencias son determinantes en la selección delrégimen pensional definitivo de los afiliados. Se emplean datos individuales de ahorro pensionaly traslados definitivos de afiliados a RAIS en 2015. Para la identificación del efecto, se explotandisposiciones normativas que generan no linealidades en los beneficios potenciales del traslado.Se encuentra que un incremento de 10 puntos porcentuales (p.p.) en la diferencia de la tasa dereemplazo potencial entre el RPM y el RAIS genera un incremento estadísticamente significativode 1, 2 p.p. en la probabilidad de traslado definitivo a RPM, sobre una base promedio de trasladosdefinitivos de 10, 4%. Para el diseño de reformas pensionales en Colombia, se sugiere considerarel incremento en el costo fiscal asociado a la existencia de ganancias de traslado hacia el RPM, para generar mecanismos que procuren la sostenibilidad del sistema y la progresividad en laasignación de subsidios |
| JEL: | H21 H55 J26 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019561&r= |
| By: | Andrade, Juan E.; Ali, Abu Noman Mohammed Atahar; Chowdhury, Reajul; Crost, Benjamin; Hoffmann, Vivian; Mustafa, Shoumi; Shaima, Nabila Afrin |
| Abstract: | Micronutrients, often referred to as vitamins and minerals are vital to healthy development, disease prevention, and wellbeing. Although only required in small amounts, micronutrients are not produced in the body and must be derived from the diet. Commonly cited micronutrients include Iron, Vitamins A, B, D, Iodine, and Zinc. Malnutrition in micronutrients tends to trap populations in a vicious cycle of poverty, causing adults to be less productive and preventing children from reaching their full potential, and exacerbating household poverty in general. Addressing the problem of micronutrient malnutrition, therefore, provides substantial benefits to the cause of development (Ara et al. 2019). The fortification of staple food items including rice to deliver vital micronutrients offers a unique opportunity to target the vulnerable populace – mostly women, young children and female adolescents – at a low cost, and importantly, without forcing a change in dietary habits.2 Although considerable investments are currently being made to improve micronutrient nutrition outcomes around the world, such efforts generally take time to provide results. |
| Keywords: | BANGLADESH, SOUTH ASIA, ASIA, rice, technology, fortified foods, food fortification, public services, food aid |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprpp:10&r= |
| By: | Dorosh, Paul A.; Ali, Shawkat; Bin Khaled, Muhammad Nahian; Mustafa, Shoumi |
| Abstract: | For almost fifty years, the Food Planning and Monitoring Unit (FPMU) of the Ministry of Food has played a role in policy analysis and planning related to the Public Foodgrain Distribution System (PFDS) and food policy in Bangladesh. Supported by a series of major donor-funded technical sup-port projects, this small unit has had major positive impacts on food policy reforms, as well as policy decisions on timing of PFDS imports, domestic procurement and distribution. And in the last dec-ade, the FPMU has played a lead role in formulation and monitoring of Country Investment Plans for Agriculture, Food Security and Nutrition. Thus, the FPMU provides support not only to the Ministry of Food, but nine other ministries, as well. This expanded mandate and the increased complexity of food and nutrition policy in Bangladesh suggest the need for an in-depth examination of the FPMU’s structure and performance. This diag-nostic study, based on a review of documents, interviews of FPMU staff and other government offi-cials, stakeholder consultations and synthesis of findings, assesses the organizational structure, management, technical performance (data management and direct support to food policy implemen-tation) and capacity strengthening needs to provide insights on how to further enhance the FPMU’s effectiveness. |
| Keywords: | BANGLADESH, SOUTH ASIA, ASIA, food grains, grain, food storage, planning, food policies, food prices, staff, incentives, Food Policy Monitoring Unit (FMPU) |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprpp:8&r= |
| By: | Mathias Beiglb\"ock; Benjamin Jourdain; William Margheriti; Gudmund Pammer |
| Abstract: | While many questions in (robust) finance can be posed in the martingale optimal transport (MOT) framework, others require to consider also non-linear cost functionals. Following the terminology of Gozlan, Roberto, Samson and Tetali this corresponds to weak martingale optimal transport (WMOT). In this article we establish stability of WMOT which is important since financial data can give only imprecise information on the underlying marginals. As application, we deduce the stability of the superreplication bound for VIX futures as well as the stability of stretched Brownian motion and we derive a monotonicity principle for WMOT. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06322&r= |
| By: | John Duffy; Janet Hua Jiang; Huan Xie |
| Abstract: | We study indefinitely-lived assets in experimental markets and find that the traded prices of these assets are on average about 40% of the risk neutral fundamental value. Neither uncertainty about the value of total dividend payments nor horizon uncertainty about the duration of trade can account for this low traded price, while the temporal resolution of payoff uncertainty plays a crucial role. We show that an Epstein and Zin (1989) recursive preference specification together with probability weighting can rationalize the low traded prices observed in our indefinite-horizon asset markets, while risk attitudes do not play such an important role. Nous étudions les actifs à durée de vie indéfinie sur des marchés expérimentaux et constatons que les prix négociés de ces actifs représentent en moyenne environ 40% de la valeur fondamentale neutre en termes de risque. Ni l'incertitude sur la valeur des paiements de dividendes totaux ni l'incertitude sur l'horizon de la durée des échanges ne peuvent expliquer ce faible prix négocié, alors que la résolution temporelle de l'incertitude sur les paiements joue un rôle crucial. Nous montrons qu'une spécification de préférence récursive d'Epstein et Zin (1989) associée à une pondération des probabilités peut rationaliser les faibles prix négociés observés sur nos marchés d'actifs à horizon indéfini, alors que les attitudes à l'égard du risque ne jouent pas un rôle aussi important. |
| Keywords: | asset pricing,behavioral finance,experiments,indefinite horizon,random termination,risk and uncertainty,Epstein-Zin recursive preferences,probability weighting, évaluation des actifs,finance comportementale,expériences,fin aléatoire,risque et incertitude,préférences récursives d'Epstein-Zin,pondération des probabilités,horizon indéfini |
| JEL: | C91 C92 D81 G12 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:cir:cirwor:2021s-32&r= |
| By: | Coleman-Jensen, Alisha; Rabbitt, Matthew P.; Gregory, Christian A.; Singh, Anita |
| Abstract: | This supplement provides statistics that complement those in Household Food Security in the United States in 2020 (ERR-298). That research report provides the primary national statistics on household food security, food spending, and use of Federal food and nutrition assistance programs by food-insecure households. Additional statistics here cover component items of the household food security measure, the frequency of occurrence of food-insecure conditions, and selected statistics on house-hold food security, food spending, and use of Federal and community food and nutrition assistance programs. |
| Keywords: | Consumer/Household Economics, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, Institutional and Behavioral Economics, Public Economics, Research Methods/ Statistical Methods |
| Date: | 2021–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usdami:313486&r= |
| By: | Kroupova, Katerina; Havranek, Tomas; Irsova, Zuzana |
| Abstract: | Educational outcomes have many determinants, but one that most young people can readily control is choosing whether to work while in school. Sixty-nine studies have estimated the effect, but results vary from large negative to positive estimates. We show that the results are systematically driven by context, publication bias, and treatment of endogeneity. Studies ignoring endogeneity suffer from an upward bias, which is almost fully compensated by publication selection in favor of negative estimates. Net of the biases, the literature suggests a negative but economically inconsequential mean effect. The effect is more negative for high-intensity employment and educational outcomes measured as decisions to dropout, but it is positive in Germany. To derive these results we collect 861 previously reported estimates together with 32 variables reflecting estimation context, use recently developed nonlinear techniques to correct for publication bias, and employ Bayesian and frequentist model averaging to assign a pattern to the heterogeneity in the literature. |
| Keywords: | Student employment,educational outcomes,meta-analysis,publication bias,Bayesian model averaging |
| JEL: | C83 I21 J22 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:240905&r= |
| By: | Berger, Markus; Campos, Jazmin; Carolli, Mauro; Dantas, Ianna; Forin, Silvia; Kosatica, Ervin; Kramer, Annika; Mikosch, Natalia; Nouri, Hamideh; Schlattmann, Anna; Schmidt, Falk; Schomberg, Anna; Semmling, Elsa |
| Abstract: | The water footprint has developed into a widely-used concept to examine water use and resulting local impacts caused during agricultural and industrial production. Building on recent advancements in the water footprint concept, it can be an effective steering instrument to support, inter alia, achieving sustainable development goals (SDGs) - SDG 6 in particular. Within the research program “Water as a Global Resource” (GRoW), an initiative of the Federal Ministry for Education and Research, a number of research projects currently apply and enhance the water footprint concept in order to identify areas where water is being used inefficiently and implement practical optimization measures (see imprint for more information). With this paper, we aim to raise awareness on the potential of the water footprint concept to inform decision-making in the public and private sectors towards improved water management and achieving the SDGs. |
| Keywords: | water footprint,sustainable development goals |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:240208&r= |
| By: | Girich Maria (RANEPA); Levashenko Antonina (RANEPA); Valamat-Zade A. (RANEPA); Magomedov Rustam (RANEPA) |
| Abstract: | Online platforms play a key role in digital economy. They make a significant contribution to increasing productivity and development of innovations, facilitate the easing of foreign economic activity, create environment for social development by supporting new forms of employment, involving small and medium-sized enterprises (SMEs) in the economy. The OECD member countries, as well as the Organization’s partner countries (primarily China), strive to create conditions for the development of online platforms and ensure their competitiveness in global markets. Currently, the EU has adopted the most detailed regulation aimed, on the one hand, at creating conditions for developing digital platforms, and on the other, at protecting local consumers of goods and services provided by global digital platforms against misconduct. In order to improve the tools for protecting Russian users of the services provided by global online platforms, it is advisable to carefully analyze the EU experience in protecting the interests of consumers of digital platforms. |
| Keywords: | Russian economy, online platforms, digitalization, digital platforms |
| JEL: | O3 O31 O32 O33 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1142&r= |
| By: | Otero Gomez, Daniel; MANRIQUE, MIGUEL ANGEL CORREA; Sierra, Omar Becerra; Laniado, Henry; Mateus C, Rafael; Millan, David Andres Romero |
| Abstract: | It is a common practice to price a house without proper evaluation studies being performed for assurance. That is why the purpose of this study provide an explanatory model by establishing parameters for accuracy in interpretation and projection of housing prices. In addition, it is intentioned to establish proper data preprocessing practices in order to increase the accuracy of machine learning algorithms. Indeed, according to our literature review, there are few articles and reports on the use of Machine Learning tools for the prediction of property prices in Colombia. The dataset in which the research is built upon was provided by an existing real estate company. It contains near 940,000 items (housing advertisements) posted on the platform from the year 2018 to 2020. The database was enriched using statistical imputation techniques. Housing prices prediction was performed using Decision Tree Regressors and LightGBM methods, thus deriving in better alternatives for house price prediction in Colombia. Moreover, to measure the accuracy of the proposed models, the Root Mean Squared Logarithmic Error (RMSLE) statistical indicator was used. The best cross validation results obtained were 0.25354±0.00699 for the LightGBM, 0.25296 ±0.00511 for the Bagging Regressor, and 0.25312±0.00559 for the ExtraTree Regressor with Bagging Regressor, and it was not found a statistical difference between their performances. |
| Date: | 2020–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:w85z2&r= |
| By: | Dorosh, Paul A. |
| Abstract: | National and household food security in Bangladesh have been greatly enhanced over the past two decades by policies that have allowed a major public foodgrain distribution and relatively large pub-lic stocks to co-exist with private sector trade. Yet, this system has also undergone substantial changes as the structure of the Bangladesh food economy has been transformed in response to growing household incomes, shifts in production and consumption, and changes in international markets. |
| Keywords: | BANGLADESH, SOUTH ASIA, ASIA, food grains, grain, food storage, investment, public sector, stocks, trade, foodgrain stocks |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprpp:7&r= |
| By: | Lenel, Friederike |
| Abstract: | This paper studies the role of expected neediness for the formation of mutual support arrangements between households. I predict that under strategic link formation in the context of risk-sharing, households with fewer resources and thus a higher probability to become needy have a higher incentive to engage in informal support, yet mutual support arrangements should be less likely between households that differ in their expected neediness. The predictions are tested using census support network data of a fishing village on the Philippines. I show that households are indeed more likely to form mutual support arrangements with households that face a similar probability of neediness; yet, households with fewer resources are not necessarily more likely to engage in mutual support. Furthermore, I document substantial differences in the structure of reciprocated and unreciprocated support links that need to be accounted for in the analysis of support arrangements. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cegedp:427&r= |
| By: | Daniel H. Cooper; Vaishali Garga; Maria Jose Luengo-Prado |
| Abstract: | We study the mortgage cash flow channel of monetary policy transmission under fixed-rate mortgage (FRM) versus adjustable-rate mortgage (ARM) regimes by comparing the United States with primarily long-term FRMs and Spain with primarily ARMs that automatically reset annually. We find a robust transmission of mortgage rate changes to spending in both countries but surprisingly a larger effect in the United States—and provide two explanations for this finding. First, there are channels of transmission other than the mortgage cash flow effect since other interest rates co-move with the mortgage rate. Second, while mortgage resets in Spain are automatic and typically small, mortgagors in the United States must actively refinance to lock in lower rates. As a result, the mortgage cash flow effect in Spain is homogeneous across mortgagors and symmetric for rate increases and decreases, whereas in the United States the effect is largest when rates decline, especially for households identified as likely refinancers. |
| Keywords: | consumption; intertemporal household choice; monetary policy transmission; adjustable-rate mortgages; fixed-rate mortgages |
| JEL: | D15 E21 E52 |
| Date: | 2021–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedbwp:93056&r= |
| By: | Eric Danan (CY - CY Cergy Paris Université, CNRS - Centre National de la Recherche Scientifique, THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université) |
| Abstract: | Mongin (1994) proved a multi-profile version of Harsanyi (1955)'s Aggregation Theorem: within the expected utility model, a social welfare functional mapping profiles of individual utility functions into social preference relations satisfies the Pareto and Independence of Irrelevant Alternatives principles if and only if it is utilitarian. The present paper extends Mongin's analysis by allowing individuals to have incomplete preferences, represented by sets of utility functions. An impossibility theorem is first established: social preferences cannot satisfy all the expected utility axioms, precluding utilitarian aggregation in this extended setting. Adapting the objective vs. subjective rationality approach of Gilboa et al. (2010) to the present social choice settings representation theorems are then obtained by relaxing either the Completeness or the Independence axioms at the social level, yielding two forms of partial utilitarianism. |
| Keywords: | Aggregation,expected utility,completeness,independence,utilitarianism,social rationality |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03327900&r= |
| By: | Febrianningtiyas, Putri |
| Abstract: | This study aims to determine and explain whether there is an influence of competence, work discipline and work environment on employee performance at UD. Sumber Ayem Kediri. This research is a descriptive study with quantitative methods, the sampling technique used is saturated sampling technique, with total population and sample of 30 respondent or employees. The analysis technique used is validity test, reliability test, multiple linear regression analysis, t test (partial) and F test (simultaneous) test of the coefficient of determination (R2) which is processed using the SPSS 16.0 program. The result of the study concluded that partially there is a positive and significant influence between competence on employee performance, this can be seen from the significant value of t of 0.026 < 0.05. work discipline partially has a positive and sifnificant effect on employee performance, this can be seen from the significant value of t of 0.006 < 0.05. the work environment partially has a positive and significant effect on employee performance, this can be seen from the significant value of t of 0.043 < 0.05. competence, work discipline and work environment simultaneously have a positive and significant effect on employee performance at UD. Sumber Ayem Kediri, this can be seen from the significant F value of 0.000 < 0.05. |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:pj4kx&r= |
| By: | Baulch, Bob; Jolex, Aubrey |
| Abstract: | Between April and July 2021, IFPRI Malawi conducted its second, nationwide crowdsourcing exercise on the maize and soybean prices paid to farmers. In contrast, to the main harvesting season in 2020, when around three-quarters of sales of maize and soybeans took place at less than the official minimum farmgate price (MFGP), in 2021 the prices paid to soybean farmers have been good but those paid to maize sellers have been poor. Specifically, between early April and late June this year, about eighty percent of soybean farmers received prices equal to or above the minimum price for soybean. However, over the same period, less than ten percent of maize farmers received prices equal to or above the MFGP for maize. |
| Keywords: | MALAWI; SOUTHERN AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; soybeans; farmers; food prices; maize; policies; minimum farmgate price (MFGP) |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspn:41&r= |
| By: | Gopal K. Basak; Chandramauli Chakraborty; Pranab Kumar Das |
| Abstract: | The paper addresses the question of lives versus livelihood in an SIRD model augmented with a macroeconomic structure. The constraints on the availability of health facilities - both infrastructure and health workers determine the probability of receiving treatment which is found to be higher for the patients with severe infection than the patients with mild infection for the specific parametric configuration of the paper. Distinguishing between two types of direct intervention policy - hard lockdown and soft lockdown, the study derives alternative policy options available to the government. The study further indicates that the soft lockdown policy is optimal from a public policy perspective under the specific parametric configuration considered in this paper. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02512&r= |
| By: | Maih, Junior; Mazelis, Falk; Motto, Roberto; Ristiniemi, Annukka |
| Abstract: | We analyse the implications of asymmetric monetary policy rules by estimating Markov-switching DSGE models for the euro area (EA) and the US. The estimations show that until mid-2014 the ECB’s response to inflation was more forceful when inflation was above 2% than below 2%. Since then, the ECB’s policy can be characterised as symmetric, and we quantify the macroeconomic implications of this policy change. We uncover asymmetries also in the Fed’s policy, which has responded more strongly in times of crisis. We compute an optimal simple rule for the EA and the US in an environment with the effective lower bound and a low neutral real rate, and find that it prescribes a stronger response to inflation and the output gap when inflation is below target compared to when it is above target. We document its stabilisation properties had this optimal rule been implemented over the last two decades. JEL Classification: E52, E58, E31, E32 |
| Keywords: | Bayesian Estimation, effective lower bound, Inflation targeting, Markov-switching DSGE, optimal monetary policy |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20212587&r= |
| By: | Kroupova, Katerina; Havranek, Tomas; Irsova, Zuzana |
| Abstract: | Educational outcomes have many determinants, but one that most young people can readily control is choosing whether to work while in school. Sixty-nine studies have estimated the effect, but results vary from large negative to positive estimates. We show that the results are systematically driven by context, publication bias, and treatment of endogeneity. Studies ignoring endogeneity suffer from an upward bias, which is almost fully compensated by publication selection in favor of negative estimates. Net of the biases, the literature suggests a negative but economically inconsequential mean effect. The effect is more negative for high-intensity employment and educational outcomes measured as decisions to dropout, but it is positive in Germany. To derive these results we collect 861 previously reported estimates together with 32 variables reflecting estimation context, use recently developed nonlinear techniques to correct for publication bias, and employ Bayesian and frequentist model averaging to assign a pattern to the heterogeneity in the literature. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:osf:metaar:7b43s&r= |
| By: | Otero Gomez, Daniel; Toro, Mauricio |
| Abstract: | This research concentrates on a bounded version of the waste image classification problem. It focuses on determining the more useful approach when working with two kinds of feature vectors, one construed using pixel values and the second construed from a Bag of Features (BoF). Several image processing techniques such as object centering, pixel value re scaling and edge filtering are applied. Logistic Regression, K Nearest Neighbors, and Support Vector Machines are used as classification algorithms. Experiments demonstrate that object centering significantly improves models’ performance when working with pixel values. Moreover, it is determined that by generating sufficiently simple data relations the BoF approach achieves superior overall results. The Support Vector Machine achieved a 0.9 AUC Score and 0.84 accuracy score. |
| Date: | 2021–06–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:yzcfk&r= |
| By: | Onil Banerjee (IDB); Martín Cicowiez (CEDLAS-IIE-FCE-UNLP) |
| Abstract: | En este trabajo, se describe el procedimiento que, utilizando los cuadros de oferta y utilización recientemente publicados por el INDEC, seguimos para la construcción de una Matriz de Contabilidad Social (MCS) para Argentina para el año 2018. La MCS resultante identifica 107 actividades, 223 productos, 11 factores de producción – incluyendo tres categorías de trabajo --y 6 hogares representativos. La MCS se construyó para ser utilizada como insumo para la calibración de IEEM (Integrated Economic-Environmental Modeling Platform), un modelo de equilibrio general computable extendido para considerar las interacciones, de ida y vuelta, entre la economía y el medio ambiente. |
| JEL: | E16 C68 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:dls:wpaper:0287&r= |
| By: | Greenwood, John (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise) |
| Abstract: | The purpose of this paper is to clarify the relation between money and interest rates. In section 1, the author examines the empirical validity of Keynes’s claims for his liquidity preference theory by looking at the relation between changes in interest rates and changes in the quantity of money. In section 2, the author considers Irving Fisher’s findings. Fisher, whose studies had mostly preceded Keynes, had shown that over any longer-term horizon the relation between money and interest rates was exactly the reverse of Keynes’ hypothesis of short-term liquidity preference. A reconciliation is proposed that treats Keynes’ theory as a short-term, liquidity effect, and Fisher’s results, which incorporate the effect of inflation or inflation expectations, as the longer-term determinant of interest rates. In section 3, the author applies the resulting combined theory of the relation between money and interest rates to five case studies in recent decades: two from Japan, and one each from the Eurozone, the U.K. and the U.S. The conclusion is that interest rates are a highly misleading guide to the stance of monetary policy; it is invariably better to rely on the growth rate of a broad definition of money when assessing the stance of monetary policy |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:ris:jhisae:0190&r= |
| By: | Viktor Stojkoski; Petar Jolakoski; Arnab Pal; Trifce Sandev; Ljupco Kocarev; Ralf Metzler |
| Abstract: | We explore the role of non-ergodicity in the relationship between income inequality, the extent of concentration in the income distribution, and mobility, the feasibility of an individual to change their position in the income distribution. For this purpose, we explore the properties of an established model for income growth that includes "resetting" as a stabilising force which ensures stationary dynamics. We find that the dynamics of inequality is regime-dependent and may range from a strictly non-ergodic state where this phenomenon has an increasing trend, up to a stable regime where inequality is steady and the system efficiently mimics ergodic behaviour. Mobility measures, conversely, are always stable over time, but the stationary value is dependent on the regime, suggesting that economies become less mobile in non-ergodic regimes. By fitting the model to empirical data for the dynamics of income share of the top earners in the United States, we provide evidence that the income dynamics in this country is consistently in a regime in which non-ergodicity characterises inequality and immobility dynamics. Our results can serve as a simple rationale for the observed real world income dynamics and as such aid in addressing non-ergodicity in various empirical settings across the globe. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.01822&r= |
| By: | Griesoph, Amelie; Hoffmann, Stefan; Merk, Christine; Rehdanz, Katrin; Schmidt, Ulrich |
| Abstract: | Social norms, also called social comparison nudges, have been shown to be particularly effective in promoting healthy food choices and environmentally friendly behaviors. However, there is limited evidence on the effectiveness of these nudges for promoting sustainable and climate-friendly food choices and their potential to reduce greenhouse gas emissions and support the related SDGs. The paper reports a field experiment that tests the effectiveness of two social norms in a real-life setting based on revealed preferences. The study distinguishes between the widely researched descriptive norms and guessed norms, the latter being tested in this context for the first time. While descriptive norms communicate typical patterns of behavior (e.g., 50% of canteen visitors choose vegetarian meals), guessed norms are determined by the individual’s best guess about the norm in a specific context. The results confirm a remarkable nudging effect of guessed norms: The higher the presumed proportion of vegetarian dishes sold, the lower the probability of choosing a vegetarian dish. Surprisingly, this effect is independent of the respective norm specification (meat or vegetarian norm). The paper provides advice for policy makers about when and how to use guessed norms. |
| Keywords: | climate-friendly behavior,field experiment,guessed norm,nudging,social norms |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:240210&r= |
| By: | Thomas R. Michl (Colgate University, Department of Economics); Hyun Woong Park (Denison University, Department of Economics) |
| Abstract: | With an emphasis on contributing to macroeconomic pedagogy we examine the collateral multiplier by comparing it to the traditional money multiplier in a simplified framework of traditional banking and shadow banking in which government bonds are the core assets. While the money multiplier is a measure of the ability of the banking system to intermediate sovereign debt by creating deposits, the collateral multiplier is a measure of the shadow banking system’s ability to inter- mediate sovereign debt by creating shadow money. It also measures the degree of re-use of sovereign debt as collateral. In this setup, the collateral multiplier is defined as the ratio between dealer banks’ matched book repo activity relative to their trading book. Using the New York Fed’s Primary Dealer Statistics data, we empirically estimate the collateral multiplier for U.S. Treasury repo collateral. Our model and empirical results shed light on the transmission mechanisms of monetary policy channeled through shadow banks and on the U.S. Treasuries market turmoil induced by COVID-19 in March 2020. |
| Keywords: | shadow banks, collateral multiplier, rehypothecation, Treasury bond, repo. |
| JEL: | A2 E51 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-12&r= |
| By: | Reme, Bjørn-Atle; Wörn, Jonathan; Skirbekk, Vegard |
| Abstract: | We report on how changes in employment during the COVID-19 pandemic affected mental health using a large Norwegian longitudinal study. In addition to showing a modest increase in symptoms of depression in the full sample, we find a substantially stronger increase in depressive symptoms among those experiencing job loss. We also present evidence on the heterogeneity of the effect across socioeconomic status, and find that while the highest educated men had the lowest risk of job loss, highly educated women experienced the strongest deterioration of mental health following job loss. Last, we investigate the mechanism and find suggestive evidence that economic worries play an important role. |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:4nu7c&r= |
| By: | Kendal Lowrey; Jennifer Van Hook; James D. Bachmeier; Thomas B. Foster |
| Abstract: | During the early twentieth century, industrial-era European immigrants entered the United States with lower levels of education than the U.S. average. However, empirical research has yielded unclear and inconsistent evidence about the extent and pace of their integration, leaving openings for arguments that contest the narrative that these groups experienced rapid integration and instead assert that educational deficits among lower-status groups persisted across multiple generations. Here, we advance another argument, that European immigrants may have “leapfrogged” or exceeded U.S.-born non-Hispanic white attainment by the third generation. To assess these ideas, we reconstituted three-generation families by linking individuals across the 1940 Census, years 1973, 1979, 1981-90 of the Current Population Survey, the 2000 Census, and years 2001-2017 of the American Community Survey. Results show that most European immigrant groups not only caught up with U.S.-born whites by the second generation, but surpassed them, and this advantage further increased in the third generation. This research provides a new understanding of the time to integration for 20th century European immigrant groups by showing that they integrated at a faster pace than previously thought, indicative of a process of accelerated upward mobility. |
| Keywords: | intergenerational mobility, European immigrants, education, integration |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:21-20&r= |
| By: | Kaukin Andrey (Gaidar Institute for Economic Policy); Miller Evgenia (RANEPA); Turuntseva Marina (Gaidar Institute for Economic Policy) |
| Abstract: | The imposition of the restrictive measures to contain the spread of the coronavirus infection (self-isolation regime, shutdown of public facilities, etc.) adversely affected the dynamic of Russian industrial sectors in H1 2020. The manufacturing industries that produce consumer durable goods, which sales most strongly depend on changes in the income of the population, suffered the most. The collapse of the OPEC+ deal and its subsequent renewal on tougher conditions for daily oil production adversely affected the extracting sector dynamic. The decomposition analysis has demonstrated that the Russian economic recession was relatively small, the ownership structure of major industrial enterprises, the weak integration of Russian industrial sectors into global value added chains and a significant share of industrial production in the economy played a positive role. |
| Keywords: | Russian economy, production, external and internal demand, GDP structure |
| JEL: | G28 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1127&r= |
| By: | Robin Charbonnier (i3-CRG - Centre de recherche en gestion i3 - X - École polytechnique - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Pierre Poinsignon (i3-CRG - Centre de recherche en gestion i3 - X - École polytechnique - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Thomas Paris (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | In a struggling music market, the digital distributor Believe has grown to the point of competing with the Majors in the industry. This article analyzes its singular strategic choices, to draw lessons on digital mutations. The extension of Believe to artists excluded from the industry leads us to call upon the "Bottom of the Pyramid" literature. We show that this choice is at the origin of a model that breaks the traditional boundaries of the industry by mixing technical services for the greatest number of people and support for selected artists. |
| Abstract: | Dans un marché de la musique morne, le distributeur numérique Believe s'est développé au point de concurrencer les majors du secteur. Cet article analyse ses choix stratégiques singuliers pour en tirer des enseignements sur les mutations numériques. L'ouverture de Believe à des artistes exclus de l'industrie conduit les auteurs à mobiliser la littérature « bas de la pyramide ». Ils montrent que ce choix est à l'origine d'un modèle qui casse les frontières traditionnelles de l'industrie en mêlant prestation technique pour le plus grand nombre et accompagnement d'artistes sélectionnés. |
| Keywords: | Bas de la Pyramide,industries créatives,créativité,musique,numérisation Bottom of the Pyramid,creative industries,creativity,music,digitization |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03328239&r= |
| By: | Mario Alloza (Banco de España); Javier Andrés (Universidad de Valencia); Pablo Burriel (Banco de España); Iván Kataryniuk (Banco de España); Javier J. Pérez (Banco de España); Juan Luis Vega (Banco de España) |
| Abstract: | Las principales propuestas de reforma del marco de política fiscal de la Unión Europea inciden en tres bloques de cuestiones: i) simplificación de las reglas, para dotarlas de mayor transparencia y flexibilidad; ii) incorporación de nuevos instrumentos supranacionales de compartición de riesgos en la Unión Económica y Monetaria, en particular para facilitar la absorción de perturbaciones de elevada intensidad, y iii) los elementos fiscales deben venir acompañados de reformas nacionales (reformas estructurales) y supranacionales (por ejemplo, avanzar en la unión del mercado de capitales). El encaje de estas propuestas en el entorno macroeconómico actual resulta complejo, independientemente del cálculo de su factibilidad política. Este entorno es muy diferente al vigente en los años noventa del siglo pasado: se están evidenciando o consolidando tendencias estructurales como la digitalización, la globalización, la transición climática o el envejecimiento poblacional, que afectan a los tipos de interés naturales y al crecimiento potencial. Asimismo, tras la era de la «gran moderación», se ha pasado a un período de perturbaciones globales de elevada intensidad. En el presente documento argumentamos que este contexto reclama un cambio de paradigma en el diseño del marco de política fiscal, frente a la aproximación de reforma incremental que se ha seguido en las últimas décadas. Este tendría que incorporar una gobernanza mejorada de las reglas fiscales, que deberían ser más simples, operativas y creíbles que las actuales, pero ir más allá, e incorporar elementos supranacionales de compartición de riesgos que permitan un funcionamiento adecuado del policy-mix entre las políticas monetaria y fiscal, con una visión conjunta del área del euro. Proporcionamos elementos cuantitativos para ilustrar varios retos que condicionan, en la situación actual, cualquier proceso de reforma: i) las anclas de deuda de medio plazo deben ajustarse a las expectativas de medio y largo plazo acerca de los tipos de interés y el crecimiento potencial; ii) las economías pueden seguir viéndose sujetas a perturbaciones muy intensas, lo que conlleva la necesidad de recuperar los márgenes de maniobra de la política fiscal en el medio plazo, y iii) resulta necesario desarrollar mecanismos realistas de absorción de los desequilibrios fiscales existentes. |
| Keywords: | política fiscal, gobernanza fiscal, reglas fiscales, deuda pública, déficit fiscal, tipos de interés |
| JEL: | E62 E63 H60 H61 H62 H63 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:opaper:2121&r= |
| By: | Edith Elkind; Abheek Ghosh; Paul Goldberg |
| Abstract: | We study contests where the designer's objective is an extension of the widely studied objective of maximizing the total output: The designer gets zero marginal utility from a player's output if the output of the player is very low or very high. We model this using two objective functions: binary threshold, where a player's contribution to the designer's utility is 1 if her output is above a certain threshold, and 0 otherwise; and linear threshold, where a player's contribution is linear if her output is between a lower and an upper threshold, and becomes constant below the lower and above the upper threshold. For both of these objectives, we study (1) rank-order allocation contests that use only the ranking of the players to assign prizes and (2) general contests that may use the numerical values of the players' outputs to assign prizes. We characterize the optimal contests that maximize the designer's objective and indicate techniques to efficiently compute them. We also prove that for the linear threshold objective, a contest that distributes the prize equally among a fixed number of top-ranked players offers a factor-2 approximation to the optimal rank-order allocation contest. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.03179&r= |
| By: | Chonghu Guan; Zuo Quan Xu; Fahuai Yi |
| Abstract: | This paper considers a life-time consumption-investment problem under the Black-Scholes framework, where the investor's consumption rate is subject to a lower bound constraint that linearly depends on the investor's wealth. Due to the state-dependent control constraint, the standard stochastic control theory cannot be directly applied to our problem. We overcome this obstacle by examining an equivalent problem that does not impose state-dependent control constraint. It is shown that the value function is a third-order continuously differentiable function by using differential equation approaches. The feedback form optimal consumption and investment strategies are given. According to our findings, if the investor is more concerned with long-term consumption than short-term consumption, then she should, regardless of her financial condition, always consume as few as possible; otherwise, her optimal consumption strategy is state-dependent: consuming optimally when her financial condition is good, and consuming at the lowest possible rate when her financial situation is bad. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06378&r= |
| By: | Fabio Bellini; Ilaria Peri |
| Abstract: | We give an axiomatic foundation to $\Lambda$-quantiles, a family of generalized quantiles introduced by Frittelli et al. (2014) under the name of Lambda Value at Risk. Under mild assumptions, we show that these functionals are characterized by a property that we call "locality", that means that any change in the distribution of the probability mass that arises entirely above or below the value of the $\Lambda$-quantile does not modify its value. We compare with a related axiomatization of the usual quantiles given by Chambers (2009), based on the stronger property of "ordinal covariance", that means that quantiles are covariant with respect to increasing transformations. Further, we present a systematic treatment of the properties of $\Lambda$-quantiles, refining some of the results of Frittelli et al. (2014) and Burzoni et al. (2017) and showing that in the case of a nonincreasing $\Lambda$ the properties of $\Lambda$-quantiles closely resemble those of the usual quantiles. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02360&r= |
| By: | Chelsea Gray (Metropolitan Police); Kirstine Hansen (Social Research Institute, University College London) |
| Abstract: | On March 23rd 2020, the UK, following close behind a number of other countries went into its first national lockdown in a bid to stop the spread of Covid-19. Boris Johnson told people to stay at home and save lives. But what happens when home isn’t safe? This paper uses data from the Metropolitan Police to examine the impact of the first lockdown on domestic abuse in the 32 boroughs of the London Metropolitan area. Using a before and after approach, and controlling for other factors, we show that domestic abuse crimes rose during lockdown. We find this increase is greater for some crimes and populations than others and is consistent across the whole lockdown period. Once lockdown restrictions are eased, rates decline but remain slightly higher than prior to lockdown up to 3 months later |
| Keywords: | Lockdown, Domestic abuse, victimisation, London |
| JEL: | B41 B55 C01 C12 C25 J12 K42 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:qss:dqsswp:2127&r= |
| By: | Büchel, Jan |
| Abstract: | Der Markt für Videospiele erlebt während der Coronapandemie einen Aufschwung. Zwar halten viele die Games-Branche für eine Nische für Spezialisten. Dabei gibt es innerhalb des Games-Marktes unterschiedliche Segmente. Insbesondere die sogenannten Serious Games und die Gamifizierung sind weiterverbreitet, als so mancher denkt. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwkkur:542021&r= |
| By: | Peter Andre (University of Bonn) |
| Abstract: | Meritocracies aspire to reward effort and hard work but promise not to judge individuals by the circumstances they were born into. The choice to work hard is, however, often shaped by circumstances. This study investigates whether people's merit judgments are sensitive to this endogeneity of choice. In a series of incentivized experiments with a large, representative US sample, study participants judge how much money two workers deserve for the effort they exerted. In the treatment condition, unequal circumstances strongly discourage one of the workers from working hard. Nonetheless, I find that individuals hold the disadvantaged worker fully responsible for his choice. They do so, even though they understand that choices are strongly influenced by circumstances. Additional experiments identify the cause of this neglect. In light of an uncertain counterfactual state -- what would have happened on a level playing field -- participants base their merit judgments on the only reliable evidence they possess: observed effort levels. I confirm these patterns in a structural model of merit views and a vignette study with real-world scenarios. |
| Keywords: | Meritocracy, attitudes toward inequality, redistribution, fairness, responsibility, social preferences, inference, uncertain counterfactual |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:ajk:ajkdps:115&r= |
| By: | Maria Chiara Cucciniello (Roma Tre University); Matteo Deleidi (Roma Tre University); Enrico Sergio Levrero |
| Abstract: | In light of the literature on the ‘price puzzle’, this paper shows that a positive effect of a tightening of monetary policy on the level of prices should be considered a normal phenomenon rather than an ‘anomaly’ or a ‘specific regime phenomenon’ connected to passive behaviour of the Central Bank in response to changes in the inflation rate. In order to assess this effect of monetary policy on the level of prices, we estimate SVAR models based on US monthly data for the period 1959-2018. Alternative measures of price and inflation expectations are also taken into consideration to avoid feasible spurious correlation. Finally, all selected models are estimated along four different sub-samples to consider different monetary policy regimes. Our findings show that the ‘price puzzle’ exists irrespective of both the passive (active) behaviour of the Central Bank and the inclusion of price expectations. |
| Keywords: | Price Puzzle, Structural Vector Autoregressions, United States |
| JEL: | B22 E31 E43 E44 E52 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:rtr:wpaper:0262&r= |
| By: | Schulten, Thorsten |
| Abstract: | [Zusammenfassung und Empfehlungen] Das Thüringer Vergabegesetz (ThürVgG) in seiner Fassung vom 23. Januar 2020 enthält umfassende Regelungen zur Berücksichtigung sozialer und ökologischer Kriterien bei der öffentlichen Auftragsvergabe. Damit entspricht es den Anforderungen eines modernen Vergaberechtes, wie sie durch die europäischen und nationalen Vergaberichtlinien vorgegeben werden. Ausschlaggebend für die Vergabe öffentlicher Aufträge ist demnach nicht mehr nur der günstigste Preis, sondern auch die Einhaltung bestimmter sozialer und ökologischer Standards. Hierdurch werden faire Wettbewerbsbedingungen geschaffen und Sozial- und Umweltdumping verhindert. Unter Ausnutzung neuer europarechtlicher Spielräume war Thüringen 2019 das erste Bundesland, das eine umfassende Tariftreueregelung in sein Vergabegesetz aufgenommen hat. Mittlerweile sind viele weitere Bundesländer diesem Beispiel gefolgt. Während Berlin bereits eine ähnliche Regelung verabschiedet hat, haben mittlerweile Brandenburg, Bremen, Hamburg, Mecklenburg-Vorpommern, das Saarland und zuletzt Sachsen-Anhalt entsprechende Gesetzesinitiativen angekündigt. Öffentliche Aufträge dürfen in Thüringen nur noch an solche Unternehmen vergeben werden, die sich verpflichten, ihre Beschäftigten bei der Auftragsdurchführung nach Tariflohn zu bezahlen. Tariftreueregelungen sind ein wichtiges Instrument zur Förderung der Tarifbindung, die in Thüringen mit nur 44% eine der niedrigsten in Deutschland ist und wesentlich für das geringe Lohniveau im Freistaat verantwortlich ist. Vor diesem Hintergrund weist die in dem Gesetzentwurf der CDU-Fraktion vorgeschlagene Abschaffung der Tariftreueregelungen (und darüber hinaus auch der weiteren sozialen und ökologischen Kriterien wie z. B. dem vergabespezifischen Mindestlohn) eindeutig in die falsche Richtung. Allerdings besteht im Hinblick auf den Geltungsbereich des Thüringer Vergabegesetzes durchaus reformbedarf. So sind die Tariftreue- und Mindestlohnvorgaben bislang auf die Vergaben der Landesbehörden beschränkt. Damit werden jedoch maximal ein Drittel aller öffentlichen Aufträge in Thüringen erfasst, so dass die Wirksamkeit des Gesetzes von vornherein recht begrenzt ist. Ratsam wäre deshalb, die Regelungen zur Tariftreue und dem vergabespezifischen Mindestlohn auch auf die Kommunen sowie alle weiteren öffentlichen Einrichtungen in Thüringen auszudehnen. Darüber hinaus bestehen bei dem Thüringer Vergabegesetz nach wie vor auch erhebliche Umsetzungsdefizite. So fehlt bis heute eine Liste der in Thüringen repräsentativen Tarifverträge. Ohne eine solche Liste sind die Vergabestellen jedoch kaum in der Lage, die gesetzlich geforderten Tariftreueregelungen auch umzusetzen. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wsipbs:58&r= |
| By: | Albert Banal-Estañol (Universitat Pompeu Fabra and Barcelona GSE); Enrique Benito (City, University of London); Dmitry Khametshin (Banco de España); Jianxing Wei (University of International Business and Economics) |
| Abstract: | We document that overcollateralisation of banks’ secured liabilities is positively associated with the risk premium on their unsecured funding. We rationalize this finding in a theoretical model in which costs of asset encumbrance increase collateral haircuts and the endogenous risk of a liquidity-driven bank run. We then test the model’s predictions using a novel dataset on asset encumbrance of the European banks. Our empirical analysis demonstrates that banks with more costly asset encumbrance have higher rates of overcollateralisation and rely less on secured debt. Consistent with theory, the effects are stronger for banks that are likely to face higher fire-sales discounts. This evidence acts in favour of the hypothesis that asset encumbrance increases bank risk, although this relationship is rather heterogeneous. |
| Keywords: | asset encumbrance, collateral, bank risk, credit default swaps |
| JEL: | G01 G21 G28 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2131&r= |
| By: | Alipranti, Maria; Petrakis, Emmanuel; Skartados, Panagiotis |
| Abstract: | We consider a vertically related market in which an upstream monopolist supplier trades, via interim observable two-part tariff contracts, with two differentiated goods' downstream Cournot competitors. We show that passive partial backward ownership (PPBO) may be pro-competitive and welfare enhancing. PPBO exacerbates the upstream's commitment problem and yields lower wholesale prices, and higher industry output, consumers surplus, and welfare than in the absence of PPBO. |
| Keywords: | Passive Partial Backward Ownership; Vertical Relations; Two-Part Tariffs; Interim Observable Contracts |
| JEL: | D43 L13 L14 |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:cte:werepe:33271&r= |
| By: | Jeannet, Anne-Marie; Heidland, Tobias; Ruhs, Martin |
| Abstract: | The protection of asylum seekers and refugees has become one of the most politically divisive issues in the European Union, yet there has been a lack of research on public preferences for asylum and refugee policies. This article analyzes which policies Europeans prefer and why. We advance a theoretical framework that explains how asylum and refugee policies that use limits and conditions enable individuals to resolve conflicting humanitarian and perceived national interest logics. Using an original conjoint experiment in eight countries, we demonstrate that Europeans prefer policies that provide refugee protection but also impose control through limits or conditions. In contrast to the divisive political debates between European Union member states, we find consistent public preferences across European countries. |
| Keywords: | asylum and refugee policy,Europe,migration,policy preferences |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:240323&r= |
| By: | Damiano Kulundu Manda; Reuben Mutegi; Samuel Kipruto; Moses Muriithi; Paul Samoei; Martine Oleche; Germano Mwabu; Stephen D. Younger; Anda David |
| Abstract: | The objective of this paper is to evaluate the effects of fiscal policy actions by the Government of Kenya on inequality and poverty. The paper uses the Kenya Integrated Household Budget Survey (KIHBS) dataset for 2015/16 combined with administrative data for the same period to construct various income concepts that are used in an analysis of welfare effects of fiscal measures following the methodology developed by the Commitment to Equity (CEQ) Institute (Lustig, 2018). The results show that the combined impact of government taxes and expenditure actions is to reduce inequality and increase poverty, a finding that is similar to effects reported in CEQ studies done in other African countries, such as Ghana, Tanzania, Uganda and Ethiopia. The study also finds that people in the first six deciles of the income distribution are net beneficiaries of taxation plus all social expenditures while those at the richer three deciles are net tax payers, indicating that individually and jointly, taxation and social spending in Kenya are progressive. On a cash only basis (i.e., excluding in-kind health and education benefits), however, only the first decile is a net beneficiary, largely because indirect taxes are paid by everyone, including the poor. This is despite the fact that, contrary to expectation, indirect taxes in Kenya are generally progressive. However, direct taxes are significantly more progressive than the indirect taxes, i.e., they are paid at higher rates in richer deciles. Further, cash and near-cash transfers, basic education and health benefits are pro-poor while tertiary education benefits are not. Cash and near-cash transfers lead to a reduction in poverty. Finally, simulation results show that increasing cash transfer to existing beneficiaries by 50% and increasing coverage could lead to greater reduction in poverty and inequality. The main conclusion of our analysis is that Kenya’s fiscal policy can be redesigned to support both inequality and poverty reduction. |
| Keywords: | Fiscal incidence, CEQ methodology, poverty, inequality, concentration coefficients, Kenya |
| JEL: | H2 H22 I14 I24 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:tul:ceqwps:101&r= |
| By: | Hindriks, Jean (Université catholique de Louvain, LIDAM/CORE, Belgium); Nishimura, Yukihiro (Osaka University) |
| Abstract: | Minimum taxation means that if a multinational enterprise (MNE) declares its operations in a jurisdiction taxing less than the minimum tax, the countries where the real economic activity takes place would have the right to tax the difference. There is a revival of the minimum tax standard for two reasons. First, there is concern about the complexity of assigning taxing rights and the effectiveness of profit-splitting rules in eliminating profit shifting. Second, the minimum tax standard has the merit of tackling multinational tax avoidance at its root. However, this argument ignores the strategic interaction between minimum taxation and tax compliance. Building upon Hindriks and Nishimura (2021), we develop a framework in which effective international tax compliance requires enforcement coordination between countries (e.g. exchange of information). We show that under sufficient market asymmetry (translating into the tax differential), minimum taxation may induce the low-tax countries to withdraw from international tax compliance agreements. We then show that such a breakdown of cooperation can make the high-tax country worse off compared to the absence of minimum taxation. |
| Keywords: | profit shifting ; tax competition ; tax enforcement |
| JEL: | C72 F23 F68 H25 H87 |
| Date: | 2021–07–28 |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvco:2021010&r= |
| By: | Fitri, Yolanda Tri Marta; fernos, jhon |
| Abstract: | The purpose of this study is to determine the analysis of Loan to Deposit Ratio (LDR) and Non Performing Loans (NPL) at PT. Bank Negara Indonesia 1946 (Persero) Tbk. In analyzing the data, the authors used quantitative data analysis methods. Quantitative data is information data that is expressed in the form of figures from the calculation and measurement of the Loan To Deposit Ratio (LDR) and Non Performing Loan (NPL) analysis at PT. Bank Negara Indonesia 1946 (Persero) Tbk. The results of this study indicate that in the period 2017 - 2019 the Loan Deposit to Ratio (LDR) from the evaluation results is quite healthy because the average value is 89% with the evaluation criteria matrix is in the position > 75% LDR <100% and Non Performing Loans (NPL evaluation results are classified as healthy because NPL <5%. |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:673ha&r= |
| By: | J. Scott Davis; Eric Van Wincoop |
| Abstract: | We develop a theory to account for changes in prices of risky and safe assets and gross and net capital flows over the global financial cycle (GFC). The multi-country model features global risk-aversion shocks and heterogeneity of investors both within and across countries. Within-country heterogeneity is needed to account for the drop in gross capital flows during a negative GFC shock (higher global risk-aversion). Cross-country heterogeneity is needed to account for the differential vulnerability of countries to a negative GFC shock. The key vulnerability is associated with leverage. In both the data and the theory, leveraged countries (net borrowers of safe assets) deleverage through negative net outflows of risky assets and positive net outflows of safe assets, experience a rise in the current account and a greater than average drop in risky asset prices. The opposite is the case for non-leveraged countries (net lenders of safe assets). |
| Keywords: | Global Financial Cycle; Capital Flows; Current Account |
| JEL: | F30 F40 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:fip:feddgw:93046&r= |
| By: | Diego Alberto López Tamayo (BBVA Research México); Aurora A. Ramírez-Álvarez (El Colegio de México) |
| Abstract: | El estudio de los determinantes del precio en plataformas de alojamiento colaborativo son un tema de investigación reciente y el mercado mexicano está poco explorado. En este artículo, se identifican una serie de atributos intrínsecos, extrínsecos y de plataforma para aplicar un modelo de precios hedónicos a 13,810 listados en la CDMX que permite explicar las diferencias en los niveles de precios y la contribución marginal de los atributos al precio por noche. Los resultados muestran que permitir un mayor número de huéspedes, ofrecer más amenidades, mayor flexibilidad en la reservación, contar con el estatus de anfitrión profesional y una mayor experiencia (antigüedad) en la plataforma tienen un impacto positivo y significativo en el precio por noche. Por otra parte, la falta de privacidad (una habitación compartida), estar ubicado más lejos de puntos de interés en la ciudad, la incidencia delictiva en la zona y una ubicación cercana a accesos de rutas de transporte colectivo tienen un impacto negativo y significativo en el precio. Estos hallazgos confirman, en gran parte, resultados de estudios anteriores y proporcionan un primer acercamiento al mercado mexicano de alojamiento colaborativo. |
| Keywords: | Share economy, Airbnb, Mercados digitales, Fijación de precios, Precios hedónicos |
| JEL: | R21 R31 Z30 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:emx:ceedoc:2021-07&r= |
| By: | Jiamin Yu |
| Abstract: | It has been for a long time to use big data of autonomous vehicles for perception, prediction, planning, and control of driving. Naturally, it is increasingly questioned why not using this big data for risk management and actuarial modeling. This article examines the emerging technical difficulties, new ideas, and methods of risk modeling under autonomous driving scenarios. Compared with the traditional risk model, the novel model is more consistent with the real road traffic and driving safety performance. More importantly, it provides technical feasibility for realizing risk assessment and car insurance pricing under a computer simulation environment. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07211&r= |
| By: | David Groves (Rand Corporation); Michelle Miro (Rand Corporation); James Syme (Rand Corporation); Alejandro Becerra-Ornelas (Rand Corporation); Edmundo Molina-Perez (Rand Corporation); Valentina Saavedra Gómez; Adrien Vogt-Schilb (Banco Interamericano de Desarollo) |
| Abstract: | Los administradores del agua enfrentan desafíos cada vez mayores para satisfacer la demanda de agua, que depende de condiciones socioeconómicas y climáticas. La evolución de estas condiciones en las próximas décadas es profundamente incierta e impredecible. El presente estudio demuestra la utilidad del enfoque de Toma de Decisiones Robustas (RDM por sus siglas en ingles), un método de toma de decisión bajo incertidumbre profunda, para evaluar la vulnerabilidad y las oportunidades de adaptación de la gestión de los recursos hídricos en Mendoza, Argentina. El análisis confirma que el sistema actual de agua de Mendoza es vulnerable a los cambios en el uso de suelo y a los impactos del cambio climático. En casi 900 futuros analizados, la demanda insatisfecha crece significativamente durante los períodos de sequía, un problema que empeora con el tiempo. La mayoría de la demanda insatisfecha se produce en el sector agrícola, con carencias que superan el 35 por ciento en algunos años y futuros. Se analizó la vulnerabilidad de las cuencas de Tulumaya y Costa de Araujo en particular, dos áreas de riego aguas abajo que exhiben una alta demanda insatisfecha en muchos futuros, y del sector agrícola en su conjunto. Tres tipos de futuros conducirían a una alta demanda insatisfecha: 1. Crecimiento económico rápido, excepto si las precipitaciones aumentan mucho; 2. Urbanización tendencial bajo condiciones climáticas medianas o secas; o 3. Urbanización acelerada bajo condiciones secas y un aumento de la temperatura pronunciado. Se evaluaron diferentes estrategias para reducir estas vulnerabilidades: i) construcción de pocos reservorios grandes; ii) de una serie de reservorios más pequeños; iii) e inversiones en riego presurizado. Este es el primer ejercicio de comparación de estas tres opciones bajo incertidumbres climáticas y de uso del suelo. Los resultados demuestran que el aumento del almacenamiento, a través de uno o unos pocos reservorios grandes o una red de reservorios pequeños, no mitigaría significativamente estas vulnerabilidades y sería extremadamente costoso. Las inversiones en riego presurizado podrían reducir las vulnerabilidades de manera más significativa. Este análisis podría ser fortalecido mediante iteraciones adicionales del enfoque RDM, que incorpore las demandas de agua urbana de manera más representativa, así como un mejor reflejo de la temporalidad de regulación de los reservorios, y una mejor representatividad de escenarios climáticos extremos. |
| Abstract: | Los administradores del agua enfrentan desafíos cada vez mayores para satisfacer la demanda de agua, que depende de condiciones socioeconómicas y climáticas. La evolución de estas condiciones en las próximas décadas es profundamente incierta e impredecible. El presente estudio demuestra la utilidad del enfoque de Toma de Decisiones Robustas (RDM por sus siglas en ingles), un método de toma de decisión bajo incertidumbre profunda, para evaluar la vulnerabilidad y las oportunidades de adaptación de la gestión de los recursos hídricos en Mendoza, Argentina. El análisis confirma que el sistema actual de agua de Mendoza es vulnerable a los cambios en el uso de suelo y a los impactos del cambio climático. En casi 900 futuros analizados, la demanda insatisfecha crece significativamente durante los períodos de sequía, un problema que empeora con el tiempo. La mayoría de la demanda insatisfecha se produce en el sector agrícola, con carencias que superan el 35 por ciento en algunos años y futuros. Se analizó la vulnerabilidad de las cuencas de Tulumaya y Costa de Araujo en particular, dos áreas de riego aguas abajo que exhiben una alta demanda insatisfecha en muchos futuros, y del sector agrícola en su conjunto. Tres tipos de futuros conducirían a una alta demanda insatisfecha: 1. Crecimiento económico rápido, excepto si las precipitaciones aumentan mucho; 2. Urbanización tendencial bajo condiciones climáticas medianas o secas; o 3. Urbanización acelerada bajo condiciones secas y un aumento de la temperatura pronunciado. Se evaluaron diferentes estrategias para reducir estas vulnerabilidades: i) construcción de pocos reservorios grandes; ii) de una serie de reservorios más pequeños; iii) e inversiones en riego presurizado. Este es el primer ejercicio de comparación de estas tres opciones bajo incertidumbres climáticas y de uso del suelo. Los resultados demuestran que el aumento del almacenamiento, a través de uno o unos pocos reservorios grandes o una red de reservorios pequeños, no mitigaría significativamente estas vulnerabilidades y sería extremadamente costoso. Las inversiones en riego presurizado podrían reducir las vulnerabilidades de manera más significativa. Este análisis podría ser fortalecido mediante iteraciones adicionales del enfoque RDM, que incorpore las demandas de agua urbana de manera más representativa, así como un mejor reflejo de la temporalidad de regulación de los reservorios, y una mejor representatividad de escenarios climáticos extremos. |
| Date: | 2021–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03318141&r= |
| By: | Maxime Delabarre (Sciences Po - Sciences Po) |
| Abstract: | Through a review of the different forms of interdependence between states and economies, this essay argues that an international response resulting from further global cooperation is the way forward. As interdependence is now weaponized to serve countries' interests, coordination is needed across global players. Specifically, trade and economic negotiations have to take place. However, one needs also to consider deep modifications to the current international framework, strongly unbalanced. International taxation, global public goods, climate change, and global value chain are among the subjects needed to be reconsidered. |
| Date: | 2021–09–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03334550&r= |
| By: | Monserrat Serio (Universidad Nacional de Cuyo) |
| Abstract: | This paper analyzes the inequality of opportunity in education among students from Argentina. We examine the student’s achievement in mathematics and reading. We use Aprender assessment database and we estimate a counterfactual distribution of educational outcomes conditional to the students’ circumstances and we compute inequality of opportunity indexes. The results suggest that educational inequality is low but a relevant proportion of this inequality is related to circumstances. Indeed, inequality of opportunity accounts for up to 30 percent of the inequality in educational outcomes. The most relevant circumstances shares are the socioeconomic level and the parent’s education. |
| Keywords: | desigualdad de oportunidades; educación; Argentina |
| JEL: | D30 I24 I31 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:aoz:wpaper:86&r= |
| By: | Pascale Phélinas (CERDI - Centre d'Études et de Recherches sur le Développement International - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne); Camille Ciriez (CERDI - Centre d'Études et de Recherches sur le Développement International - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne) |
| Abstract: | The objective of this work is to explore the perceptions and attitudes of Brazilians towards the COVID-19 epidemic and to determine the factors that explain what leads individuals to comply with the social distancing measures and barrier gestures aimed at controlling the spread of the coronavirus. The results are based on three waves of a survey conducted in 2020 among a representative sample of households. In a context marked by the Brazilian president's repeated statements against prevention policies in the media and social networks, we show that the population's trust in public authorities (medical, scientific, religious policies, etc.) and in particular in the president of the Republic, played an essential role in the population's adherence to measures intended to control the spread of the virus. Compliance with social distancing measures and barrier gestures is more difficult for Brazilians who trust their president. This result confirms the crucial influence of leadership at the highest level of government on behavior, and reinforces the results of studies conducted in other countries. |
| Abstract: | L'objectif de ce travail est d'explorer les perceptions et attitudes des brésiliens face à l'épidémie de COVID-19 et de déterminer les facteurs de nature à expliquer ce qui conduit les individus à respecter les mesures de distanciation sociale et les gestes barrière indispensables au contrôle de la propagation du coronavirus. Les résultats sont fondés sur trois vagues d'enquête menées en 2020 auprès d'un échantillon représentatif de ménages. Dans un contexte marqué par les prises de position répétées du président Brésilien contre les politiques de prévention dans les médias et réseaux sociaux, nous montrons que la confiance des populations envers les autorités publiques (politiques médicales, scientifiques, religieuses etc) et notamment envers le président de la République, a joué un rôle essentiel dans l'adhésion des populations aux mesures destinées à maîtriser la propagation du virus. Le respect des mesures de distanciation sociale et des gestes barrières est plus difficile pour les Brésiliens qui ont confiance dans leur président. Ce résultat confirme l'influence cruciale du leadership au plus haut niveau du gouvernement sur les comportements, et consolident les résultats d'études menées dans d'autres pays. |
| Keywords: | Latin america,Brazil,Health policy,Amérique latine,Brésil,Covid-19,Politiques de santé |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03331706&r= |
| By: | Ron Boschma; ; |
| Abstract: | A key objective of Smart Specialization Strategies (S3) is to stimulate related diversification in European regions, rather than unrelated diversification. This chapter will outline the pros and cons of S3 with a prime focus on either related or unrelated diversification. We argue it depends on the specific regional situation which type of S3 to pursue. While there are good reasons to promote related diversification in general, regions may become over-specialized or trapped in a low-complex economy that might warrant a S3 focus on unrelated diversification. |
| Keywords: | Smart specialization, related diversification, unrelated diversification, regional diversification, complexity |
| JEL: | O25 O38 R11 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:2128&r= |
| By: | Bielov, Constantine; Mitomo, Hitoshi; Hämmäinen, Heikki |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238011&r= |
| By: | Ring, Patrick; Probst, Catharina C.; Neyse, Levent; Wolff, Stephan; Kaernbach, Christian; van Eimeren, Thilo; Schmidt, Ulrich |
| Abstract: | Problem gamblers discount delayed rewards more rapidly than do non-gambling controls. Understanding this impulsivity is important for developing treatment options. In this article, we seek to make two contributions: First, we ask which of the currently debated economic models of intertemporal choice (exponential versus hyperbolic versus quasi-hyperbolic) provides the best description of gamblers’ discounting behavior. Second, we ask how problem gamblers differ from habitual gamblers and non-gambling controls within the most favored parametrization. Our analysis reveals that the quasi-hyperbolic discounting model is strongly favored over the other two parametrizations. Within the quasi-hyperbolic discounting model, problem gamblers have both a significantly stronger present bias and a smaller long-run discount factor, which suggests that gamblers’ impulsivity has two distinct sources. |
| Keywords: | time preferences,discounting,risk,incentives,gambling |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:240211&r= |
| By: | Adam Levai (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)); Riccardo Turati (Universitat Autonoma de Barcelona) |
| Abstract: | Even though the existing literature investigating the labor market impact of immigration assumes, implicitly or explicitly, that labor market regulation is exogenous to immigration (in terms of both size and composition), this is not necessarily the case. This paper shows that labor market regulation responds to the composition of the immigrant population. We build a novel workers’ protection index based on 36 labor law variables over a sample of 70 developed and developing countries from 1970 to 2010. Exploiting a dynamic panel setting using both internal and external instruments, we find that workers’ protection in destination countries is influenced by the degree of workers’ protection that immigrants experience in their origin countries and is not affected by immigrant population size. The effects are particularly strong across two dimensions of workers’ protection: worker representation laws and employment forms laws. This paper provides suggestive evidence that immigrants’ participation in unions and its implications for political actors is one of the potential mechanisms. Finally, calculations based on the estimated coefficients suggest that immigration, on average, contributes to a reduction in workers’ protection, particularly in OECD high-income countries. |
| Keywords: | Migration, Labor Market Institutions, Labor Regulation, Workers’ Protection |
| JEL: | J61 K31 F22 |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:ctl:louvir:2021021&r= |
| By: | Bayerlein, Michael |
| Abstract: | This article answers the question of why certain European mainstream parties have changed their policy positions on the GAL-TAN (Green/Alternative/Libertarian vs. Traditional/Authoritarian/Nationalist) dimension in recent years. I argue that these changes can be explained through the electoral success of new right-wing populist parties and the ideological proximity of conservative mainstream parties towards these parties. These arguments were tested with econometric models of mainstream parties’ policy positions in 11 Western European democracies between 2002 and 2019. The results indicate that mainstream parties chase the other “populist zeitgeist” by changing their policy positions on the GAL–TAN dimension in response to the electoral success of right-wing populist parties. Mainstream parties respond to this threat by closing the distance to these parties on the GAL–TAN dimension. However, this responsiveness is largely constrained to conservative mainstream parties. The findings have important implications for understanding mainstream party responsiveness towards rivalling right-wing populist parties. |
| Keywords: | populism,electoral competition,spatial analysis,political parties,GAL-TAN dimension |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:240403&r= |
| By: | Roger Newson (Cancer Prevention Group, School of Cancer & Pharmaceutical Sciences, King's College London) |
| Abstract: | Ridit functions are specified with respect to an identified probability distribution. They are like ranks, only expressed on a scale from 0 to 1 (for unfolded ridits), or -1 to 1 ( for folded ridits). Ridit functions have generalised inverses called percentile functions. A native ridit is a ridit of a variable with respects to its own distribution. Native ridits can be computed using the ridit() function of Nick Cox's SSC package egenmore. Alternatively, weighted ridits can be computed using the SSC package wridit. This has a handedness() option, where handedness(right) specifies a right--continuous ridit (also known as a cumulative distribution function), handedness(left) specifies a left--continuous ridit, and handedness(center) (the default) specifies a ridit function discontinuous at its mass points. wridit now has a module fridit, computing foreign ridits of a variable with respect to a distribution other than its own, specifying the foreign distribution in another data frame. An application of ridits is ridit splines, which are splines in a ridit function, typically computed using the SSC package polyspline. As an example, we may fit a ridit spline to a training set, and use it for prediction in a test set, using foreign ridits of an X-variable in the test set with respect to the distribution of the X-variable in the training set. The model parameterss are typically values of an outcome variable corresponding to percentiles of the X-variable in the training set. This practice stabilises (or Winsorises) outcome values corresponding to X-values in the test set outside the range of X-values in the training set |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:1&r= |
| By: | Anjeli, Dwi; fernos, jhon |
| Abstract: | The purpose of this study is to determine the analysis of the factors that affect the rate of return on People's Business Credit (KUR) at PT. Bank Pembangunan Daerah (BPD) Sumatera Barat Cabang Painan. This research uses a descriptive method. The results show that there are two factors that affect the rate of return on People's Business Credit (KUR), namely: internal factors that are influenced by the number of loans, credit installments and repayment periods, while external factors are influenced by deteriorating economic conditions |
| Date: | 2021–08–23 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:yngbw&r= |
| By: | Laté Lawson (BETA - Bureau d'Économie Théorique et Appliquée - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Roberto Martino (BETA - Bureau d'Économie Théorique et Appliquée - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Phu Nguyen-Van (BETA - Bureau d'Économie Théorique et Appliquée - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Existing studies disjointly addressed the environmental convergence and environmental Kuznets curve hypotheses, though these research lines are theoretically interconnected. This paper proposes a unified empirical methodology to simultaneously investigate both hypotheses, relying on a semiparametric dynamic panel data model that accounts for regressor endogeneity. The approach, when applied to CO2 emissions in 106 countries, suggests that there is no global level evidence supporting the environmental Kuznets hypothesis, while a convergence process is taking place. Our results imply that current international agreements have not been sufficiently binding to globally curb CO2 emissions, especially in high-income countries, as aimed by Sustainable Development Goals. |
| Keywords: | CO2 emissions |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03098130&r= |
| By: | Schotte, Simone (UNU-WIDER); Danquah, Michael (UNU-WIDER); Osei, Robert (University of Ghana); Sen, Kunal (University of Manchester) |
| Abstract: | In this paper, we provide causal evidence of the immediate and near-term impact of stringent COVID-19 lockdown policies on employment outcomes, using Ghana as a case study. We take advantage of a specific policy setting, in which strict stay-at-home orders were issued and enforced in two spatially delimited areas, bringing Ghana's major metropolitan centres to a standstill, while in the rest of the country less stringent regulations were in place. Using a difference-in-differences design, we find that the three-week lockdown had a large and significant immediate negative impact on employment in the treated districts, particularly among workers in informal self-employment. While the gap in employment between the treated and control districts had narrowed four months after the lockdown was lifted, we detect a persistent nationwide decline in both earnings and employment, jeopardizing particularly the livelihoods of small business owners mainly operating in the informal economy. |
| Keywords: | COVID-19, lockdown, employment, informal economy, Ghana |
| JEL: | I18 J46 J63 O55 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14692&r= |
| By: | Ebad F. Haghish (Department of Psychology, University of Oslo, Norway) |
| Abstract: | rcall is a Stata package that integrates R and R packages in Stata and supports seamless two-way data communication between R and Stata. The package offers two modes of data communication, which are 1) interactive and 2) non-interactive. In the first part of the presentation, I will introduce the latest updates of the package (version 3.0) and how to use it in practice for data analysis (interactive mode). The second part of the presentation concerns developing Stata packages with rcall (non-interactive mode) and how to defensively embed R and R packages within Stata programs. All the examples of the presentation, either for data analysis or package development, would be based on embedding R machine learning algorithms in Stata and using them in practice. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:9&r= |
| By: | Antoine Deeb |
| Abstract: | Estimated value-added (VA) measures have become popular metrics of worker and institutional quality among economists and policy makers, and recent studies increasingly use these measures either as dependent or explanatory variables in regressions. For example, VA is used as an explanatory variable when examining the relationship between teacher VA and students' long-run outcomes. Due to the multi-step nature of VA estimation and the correlations between the observable characteristics of the students and true teacher quality, the standard errors researchers routinely use when including VA measures in OLS regressions are incorrect. In this paper, I construct correct standard errors for regressions that use VA as an explanatory variable and for regressions where VA is the outcome. I do so by showing how the assumptions underpinning VA models naturally lead to a generalized method of moments (GMM) framework. I propose corrected standard error estimators derived using GMM, and discuss the need to adjust standard errors under different sets of assumptions. Finally, I show that models using VA as an explanatory variable can be written as overidentified systems resembling instrumental variable systems, and propose a more efficient estimator. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.01741&r= |
| By: | Marivoet, Wim; Ulimwengu, John M.; Sall, Leysa M.; Gueye, Adama; Savadogo, Kimseyinga; Dia, Khadim |
| Abstract: | Using household consumption data collected in 2017/18, this paper analyzes patterns of urban and rural food consumption in Senegal. We adopt two methodological approaches. The first is an in-depth (spatial) analysis of current diets and corresponding nutrient intakes, coupled with an identification of possible food items to address nutrient gaps. The second approach is an application of the Quadratic Almost Ideal Demand System (QUAIDS) model to examine food consumption dynamics of Senegalese households. Results show that Senegal is a typical case of micronutrient deficiency, especially regarding calcium, iron and vitamin B12. Reflected by their more diversified diet, nutrient intake of urban dwellers is generally better compared to their rural counterparts, which relates to the urban sector’s higher income status and more secure access to food items, especially those rich in calcium, vitamin B12 and vitamin A. In contrast, the dietary status of rural populations is usually poorer and mainly driven by the nutrient content of cereals locally produced. Despite insufficient domestic production, the recent promotion and upsurge of small (local) cereal processing units might be a promising development to increase urban uptakes of iron. Although Senegal’s food system overall is underperforming in terms of assuring a nutritious diet for all, the most remote rural departments of the country, such as Saraya and Podor, display the highest nutrient deficiencies and therefore should be targeted with priority. Apart from geographical targeting and given their higher responsiveness to price and income changes, policies based on food pricing and income transfers should be implemented to ensure a minimal nutrient intake among the most food-insecure households. These policies could be further complemented with behavioral change campaigns which promote an alternative set of nutrient-rich and cost-effective food items. At the same time, such campaigns should advocate against excessive or imbalanced intakes of sugar and fats, which are especially problematic in the more eastern located rural areas of the country and in the urban sector of various departments located in the western and central parts of Senegal, respectively. |
| Keywords: | SENEGAL; WEST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; food consumption; diet; urban areas; rural areas; hunger; demand; elasticities; nutrient adequacy |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2036&r= |
| By: | Ali-Yrkkö, Jyrki; Halme, Kimmo; Deschryvere, Matthias; Lehenkari, Janne; Piirainen, Kalle; Suominen, Arho |
| Abstract: | Abstract This study focuses on factors affecting companies’ research and development (R&D), Finland as a location for R&D activities, and R&D intensity (R&D/GDP). According to our results, R&D investments are increasing in Finland but the R&D intensity will not reach 4 % target by 2030. Our results showed that Sweden, Estonia (and to some extent other Baltic countries), and Germany are Finland’s main competitors regarding the location of R&D investments. The key factors affecting R&D location are the availability of R&D personnel, and the geographical proximity to the companies’ other units and customers. We recommend comprehensive and long-term innovation policy which considers policy actions – not only affecting the increase of R&D and its impacts – but also the increase of capabilities. It should be noted, however, that rather than the ultimate target, R&D is a means to reach other goals. |
| Keywords: | R&D, Research, Development, Target, Location, Factors, Private, Company, Firm, Competition |
| JEL: | D22 D25 E22 F23 H25 O3 O32 O38 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:rif:briefs:98&r= |
| By: | Jackson, Rachel R; Rowell, Andrew; Gilmore, Anna B PhD |
| Keywords: | Social and Behavioral Sciences |
| Date: | 2021–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:ctcres:qt4qs8m106&r= |
| By: | Yifei Cai; Jamel Saadaoui |
| Abstract: | According to the Schumpeterian endogenous growth theory, the efficacy of R&D is lowered by the proliferation of products. To be consistent with empirical data, the ratio between innovative activity and product variety (also called R&D intensity) must be stationary. In this perspective, our contribution investigates whether the R&D intensity series are stationary when structural breaks are considered. Our sample of G7 countries is examined over the period spanning from 1870 to 2016. Our results indicate that traditional unit root tests (ADF, DF-GLS and KPSS) conclude that the R&D intensity series are non-stationary in contradiction with the Schumpeterian endogenous growth theory. The conclusions of these traditional unit root tests may be misleading, as they ignore the presence of structural breaks. Indeed, we use several types of Fourier Dickey-Fuller tests to consider the presence of structural breaks. In the Fourier Dickey-Fuller unit root tests using double frequency and fractional frequency, the R&D intensity is significantly stationary at least at the 5% level for Canada, France, Germany, Italy, Japan when a deterministic trend is included in the tests. Nevertheless, the R&D intensity is non-stationary for the US, even when we consider structural breaks. Indeed, the integration analyses aimed at discriminating between competing theories of endogenous growth should be careful of the presence of structural breaks. Especially when historical data are used, traditional unit root tests may lead to erroneous economic interpretations. These findings may help to understand the true nature of long-run economic growth and may help to formulate sound policy recommendations. |
| Keywords: | R&D intensity; Schumpeterian growth model; Double frequency; Fourier DickeyFuller unit root test. |
| JEL: | C12 C22 O30 O40 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2021-34&r= |
| By: | Öberg, Stefan |
| Abstract: | Studies investigating how the number of children in a family affects the parents or the children face problems because the variable of interest is endogenous in the model. The currently accepted solution to this problem is to use instrumental variables (IVs), for example, based on twin births. In this paper, I review and add to the critique of IVs based on twin births and show that that there are so many issues—major and minor—with these IVs that results based on them are not reliable or interpretable. I also review other IVs used in the literature, for example IVs based on the sexes of the firstborn children, and conclude that there are, as of yet, no credible IVs for the number of children. We need to disregard results from studies applying these IVs, reevaluate the current state of knowledge, and develop new, more credible methods. |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:peuvz&r= |
| By: | Hansjörg Albrecher (UNIL - University of Lausanne); Dina Finger (UNIL - University of Lausanne); Pierre-Olivier Goffard (UCBL - Université Claude Bernard Lyon 1 - Université de Lyon) |
| Abstract: | The resource-consuming mining of blocks on a blockchain equipped with a proof of work consensus protocol bears the risk of ruin, namely when the operational costs for the mining exceed the received rewards. In this paper we investigate to what extent it is of interest to join a mining pool that reduces the variance of the return of a miner for a specified cost for participation. Using methodology from ruin theory and risk sharing in insurance, we quantitatively study the effects of pooling in this context and derive several explicit formulas for quantities of interest. The results are illustrated in numerical examples for parameters of practical relevance. |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03336851&r= |
| By: | Silvia Albrizio (Banco de España); Iván Kataryniuk (Banco de España); Luis Molina (Banco de España); Jan Schäfer (CEMFI) |
| Abstract: | The use of central bank liquidity lines has gained momentum since the global financial crisis in order to provide liquidity in foreign exchange markets, while at the same time preventing threats to financial stability and negative spillbacks. US dollar swap lines are well studied, but much less is known about the effects of liquidity lines in euros. We use a difference-in-differences strategy to show that the announcement of ECB euro liquidity lines has a direct positive signalling effect since the premium paid by foreign agents to borrow euros in FX markets decreases up to 76 basis points relative to currencies not covered by these facilities. Additionally, the paper provides suggestive evidence that these facilities generate positive spillbacks to the euro area since domestic bank equity prices increase by 6.7% in euro area countries highly exposed via banking linkages to countries whose currencies are targeted by liquidity lines. |
| Keywords: | liquidity facilities, central banks swap and repo lines, spillbacks |
| JEL: | E44 E58 F33 G15 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2125&r= |
| By: | Catherine Buffington; Daniel Chapman; Emin Dinlersoz; Lucia Foster; James Hunt; Shawn Klimek |
| Abstract: | In response to requests from policymakers for additional context for Small Business Pulse Survey (SBPS) measures of the impact of COVID-19 on small businesses, we researched developing estimates by owner characteristics and rural/urban locations. Leveraging geographic coding on the Business Register, we create estimates of the effect of the pandemic on small businesses by urban and rural designations. A more challenging exercise entails linking micro-level data from the SBPS with ownership data from the Annual Business Survey (ABS) to create estimates of the effect of the pandemic on small businesses by owner race, sex, ethnicity, and veteran status. Given important differences in survey design and concerns about nonresponse bias, we face significant challenges in producing estimates for owner demographics. We discuss our attempts to meet these challenges and provide discussion about caution that must be used in interpreting the results. The estimates produced for this paper are available for download. Reflecting the Census Bureau’s commitment to scientific inquiry and transparency, the micro data from the SBPS will be available to qualified researchers on approved projects in the Federal Statistical Research Data Center network. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:21-24&r= |
| By: | Bernardo Fanfani; Claudio Lucifora (Università Cattolica del Sacro Cuore; Dipartimento di Economia e Finanza, Università Cattolica del Sacro Cuore); Daria Vigani |
| Abstract: | This paper analyses the characteristics of employer association in Italy, using unique firm-level data with information on employers’ affiliation choices as well as their characteristics. We document that a persistent decline in affiliation rates to employers’ associations has occurred during the last two decades. We show that affiliated companies are positively selected, as they tend to be larger, older, more likely to be located in richer regions, to be export- and innovation-oriented, as well as more likely to provide training. Using longitudinal data and regression decomposition techniques, we show that more fragile and less innovative firms have been more affected by the persistent decline in affiliation rates. Using a firm fixed effect identification strategy, we also show that firms that become members of an employer association tend to experience a faster growth in employment, but there are no significant relationships with productivity dynamics. Finally, the paper analyses whether the level of representativeness of employers’ associations has any effect on bargaining outcomes concerning the level of minimum wages, which are settled by these organizations in national industry-wide collective contracts after a negotiation process with trade unions. Results from this analysis show that a higher representativeness of employers’ organizations has a weak positive relationship with the level of bargained wages. |
| Keywords: | industrial relations; employer association; collective bargaining; wage setting. |
| JEL: | J52 J31 J41 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:ctc:serie1:def109&r= |
| By: | Laura Doval; Alex Smolin |
| Abstract: | We study the payoffs that can arise under some information structure from an interim perspective. There is a set of types distributed according to some prior distribution and a payoff function that assigns a value to each pair of a type and a belief over the types. Any information structure induces an interim payoff profile which describes, for each type, the expected payoff under the information structure conditional on the type. We characterize the set of all interim payoff profiles consistent with some information structure. We illustrate our results through applications. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.03061&r= |
| By: | Mohammed Abdellaoui (GREGHEC, HEC Paris - Ecole des Hautes Etudes Commerciales, CNRS - Centre National de la Recherche Scientifique); Enrico Diecidue (Insead - INSEAD - INSEAD); Emmanuel Kemel (GREGHEC, HEC Paris - Ecole des Hautes Etudes Commerciales, CNRS - Centre National de la Recherche Scientifique); Ayse Onculer (ESSEC Business School - Essec Business School) |
| Abstract: | This paper reports two experiments in which attitudes towards temporal risk resolution is elicited from choices between two-outcome lotteries that pay out at some future fixed date and can be resolved either now or later. We show that matching probabilities provides a simple method to measure attitudes towards temporal resolution-via the utility scaleunder Kreps and Porteus' (1978) recursive expected utility. We also analyze our data using a general recursive model that can reveal attitudes towards temporal risk resolution through the utility scale and/or the probability weighting scale. In terms of goodness of fit, as well as of prediction accuracy, our results point to a better performance of the probability weighting approach. More specifically, we show that individuals become less sensitive and more pessimistic with respect to winning probabilities when lotteries are resolved later rather than now. |
| Keywords: | Temporal resolution of uncertainty,temporal risk,recursive expected utility,preference for early resolution,probability weighting,recursive rank-dependent utility,time preference,risk preference |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03330225&r= |
| By: | Chadha, Jagjit S.; Corrado, Luisa; Meaning, Jack; Schuler, Tobias |
| Abstract: | In response to the coronavirus (Covid-19) pandemic, there has been a complementary approach to monetary and fiscal policy in the United States with the Federal Reserve System purchasing extraordinary quantities of securities and the government running a deficit of some 17% of projected GDP. The Federal Reserve pushed the discount rate close to zero and stabilised financial markets with emergency liquidity provided through a new open-ended long-term asset purchase programme. To capture the interventions, we develop a model in which the central bank uses reserves to buy much of the huge issuance of government bonds and this offsets the impact of shutdowns and lockdowns in the real economy. We show that these actions reduced lending costs and amplified the impact of supportive fiscal policies. We then run a counterfactual analysis which suggests that if the Federal Reserve had not intervened to such a degree, the economy may have experienced a significantly deeper contraction as a result from the Covid-19 pandemic. JEL Classification: E31, E40, E51 |
| Keywords: | Covid-19, monetary-fiscal interaction, non-conventional monetary policy, quantitative easing |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20212588&r= |
| By: | Juan Acosta; Beatrice Cherrier (CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | In this paper, we build on data on officials of the Federal Reserve System, oral history repositories, and hitherto underresearched archival sources to unpack the tortuous path toward crafting an institutional and intellectual space for postwar economic analysis within the Board of Governors of the Federal Reserve System. We show that growing attention to new macroeconomic research was a reaction to both mounting external criticisms against the Fed's decision-making process and the spread of new macroeconomic theories and econometric techniques. We argue that the rise of the number of PhD economists working at the Fed is a symptom rather than a cause of this transformation. Key to our story are a handful of economists from the Board of Governors' Division of Research and Statistics (DRS) who did not hold a PhD but envisioned their role as going beyond mere data accumulation and got involved in large-scale macroeconometric model building. We conclude that the divide between PhD and non-PhD economists may not be fully relevant to understand both the shift in the type of economics practiced at the Fed and the uses of this knowledge in the decision-making process. Equally important was the rift between different styles of economic analysis. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03334659&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This research represent research qualitative with descriptive approach and its research object is to entangle Body elements Service Of Inwrought Permit One Door Sub-Province of Deli Serdang, Body Operation Of Environmental Impact of Area and District Of Sunggal Sub-Province of Deli Serdang. Target of this research is How Impact Giving Of Permit Found Building to Environment in District Of Sunggal Sub-Province of Deli Serdang. used Data represent data of sekunder obtained to through research of bibliography (research library) that is law and regulation, regulation of government, by law, reference books, handing out and documents related to this research. Technique data collecting use interview, documentation and observation. Data analysis in research of in conducted by qualitative as research procedure having the character of descriptive through method think (inductive and deductive logika). Result of research indicate that Impact Giving Of Permit Found Building (IMB) to Environment represent a[n decision of local government in the effort to prevent and overcome problems of environment and protect environment function as according to plan management of environment monitoring plan and environment. |
| Date: | 2021–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:bnc9z&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | Karo regency has alot of tourism potential consist of marine tourism, religious tourism, culture tourism, ecotourism and others. The tourist destination have it’s own appeal for domestic or foreign tourists. The tourist visits increased every year. This study aims to determine the potential and strategy for developing tourism in Karo District. This type of research is qualitative research with a descriptive approach. Research informants were determined purposively. The technique of collecting data was done by observation, interviews and documentation. Analysis data is was with data reduction, presentation of data, conclusion and data triangulation. The data are presented and analyzed in descriptively. The results shows that department of tourism Karo regency have strategy to develop the tourism. Development strategy used such as; Man, for maximize human resources quantity of department of tourism Karo regency, then departmen of tourism has cooperate with stakeholder such as community, agent, blogger, and establish tourism promotion agency for support the tourism marketing. |
| Date: | 2020–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:8adhg&r= |
| By: | 日下, 勇歩; Kusaka, Yuho |
| Abstract: | 本研究では、継続企業の前提に関する開示（以下、GC開示とする）を契機として、企業 がより積極的に従業員のリストラを実施するかどうかを検証している。本研究の発見事項 は2つある。第1に、継続企業の前提に関する財務諸表注記（以下、GC注記とする）を 初めて開示した企業では、そうではない企業と比較して、早期退職プログラムがより実施 されやすい傾向がある。第2に、「事業等のリスク」及び「財政状態、経営成績及びキャ ッシュ・フローの状況の分析（MD&A）」において、継続企業の前提に関する重要事象 等の開示を初めて行った企業では、そのような現象は観察されなかった。これらの結果は 、財務諸表注記としてGC開示をすることが、企業内の従業員のリストラに関する意思決 定により重要な影響を与えることを示唆している。 |
| Keywords: | ゴーイング・コンサーン, 従業員, 早期退職 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:hit:hmicwp:245&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | People's Business Credit (KUR) is a government program to increase Small, Micro, and Medium Enterprises (UMKM). Micro Business Loan (KUR) is a credit for financing productive business segment of micro, small, medium, and cooperative feasible but not yet bankable for working capital and / or investment credit through direct and indirect financing pattern (linkage) guaranteed by Lembaga Penjamin Kredit. This study aims to examine how the implementation of KUR distribution and its role in the empowerment of women. This research uses mixed methods method. The sample in this research was 71 respondents who were drawn using Taro Yamane formula with precision 0,1. The location of this research is PT. Bank Mandiri branch of Medan Iskandar Muda (Tbk). The results of this study show that the distribution system of KUR PT. Bank Mandiri branch of Medan Iskandar Muda (Tbk) through nine stages using the 5 C standard (Capital, Collateral, condition, character, capacity) as the implementation guideline. The results of the study of obtaining the KUR program have a good impact on the business development and personal debtor. This is because the survey system conducted on an ongoing basis by PT. Bank Mandiri branch of Medan Iskandar Muda (Tbk) forced the debtor to discipline in financial management. |
| Date: | 2020–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:jzwum&r= |
| By: | Weisser, Christoph; Lenel, Friederike; Lu, Yao; Kis-Katos, Krisztina; Kneib, Thomas |
| Abstract: | Access to electricity is typically the main benefit associated with solar panels, but in economically less developed countries, where access to electricity is still very limited, solar panel systems can also serve as means to generate additional income and to diversify income sources. We analyze high-frequency electricity usage and repayment data of around 70,000 households in Tanzania that purchased a solar panel system on credit, in order to (1) determine the extent to which solar panel systems are used for income generation, and (2) explore the link between the usage of the solar system for business purposes and the repayment of the customer credit that finances its purchase. Based on individual patterns of energy consumption within each day, we use XGBoost as a supervised machine learning model combined with labels from a customer survey on business usage to generate out-of-sample predic- tions of the daily likelihood that customers operate a business.We find a low average predicted business probability; yet there is considerable variation across households and over time. While the majority of households are predicted to use their system primarily for private consumption, our findings suggest that a substantial proportion uses it for income generation purposes occasionally. Our subsequent statistical analysis regresses the occurrence of individual credit delinquency within each month on the monthly average predicted probability of business-like electricity usage, relying on a time-dependent proportional hazards model. Our results show that customers with more business-like electricity usage patterns are significantly less likely to face repayment difficulties, suggesting that using the system to generate additional income can help to alleviate cash constraints and prevent default. |
| Keywords: | Rural electrification,Off-grid energy,High-frequency electricity usage data,Solar panels,Tanzania,Risk management,Credit default,Big Data,Supervised machinelearning,Time-dependent proportional hazards model,XGBoost |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cegedp:428&r= |
| By: | Paolo Di Martino (Department of Economics and Statistics (Dipartimento di Scienze Economico-Sociali e Matematico-Statistiche), University of Torino, Italy) |
| Abstract: | This paper reconstructs the history of direct interventions to support the exchange rate performed by Italian banks of issue between 1880 and 1913. The paper, based on coeval documents, shows how in Italy "central banks" played an active role over the whole period targeting, in particular, the price of public bonds traded internationally as the difference between this price and the one in domestic markets could activate arbitrages able to influence the exchange rate. The paper shows that the end- result of these interventions depended on the interconnection between three variables: the volume of Italian bonds traded internationally, the amount of forex reserves held by "central banks", and the trust in the Italian public finances. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:tur:wpapnw:072&r= |
| By: | Emmanuel Kemel (GREGHEC, HEC Paris - Ecole des Hautes Etudes Commerciales, CNRS - Centre National de la Recherche Scientifique); Antoine Nebout (INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Bruno Ventelou (CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Risk is a key dimension of economic decisions, but whether risk attitudes can predict real economic behaviour is still subject to investigation. We measure general practitioners' (GPs) risk attitudes and check for a relationship with variations in prescribing practices. Individual-level risk attitudes are elicited from simple survey choices on a representative national panel of 939 French GPs, and are linked to their volume of lab-test prescriptions through administrative records. Specifically, we estimate individual components of a flexible decision model under risk (rank-dependent utility) using random-coefficient estimations, and then treat these components as predictors of observed lab-test prescribing. We find that (1) GPs exhibit the usual patterns of risk attitudes: risk aversion and inverse S-shaped probability weighting prevails (2) risk aversion captured by the utility function is positively correlated with lab-test prescribing. |
| Keywords: | General practitioners,risk attitudes,rank-dependent utility,lab-test prescribing,practice variation |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03330153&r= |
| By: | Zsolt Darvas; Guntram B. Wolff |
| Abstract: | This paper was prepared for the informal ECOFIN meeting in Ljubljana on 10/11 September 2021. The authors thank Klaas Lenaerts for his excellent research assistance and colleagues at Bruegel (Grégory Claeys, Maria Demertzis, André Sapir, Jean Pisani-Ferry and Simone Tagliapietra) for their feedback and suggestions. The additional public investment need required to meet the European Union’s climate goals is between 0.5 percent and 1 percent of GDP annually during this... |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bre:polcon:44540&r= |
| By: | Nicolás Garrido (Universidad Diego Portales); Jeffrey Morales (Universidad de las Américas) |
| Abstract: | This paper analyzes the effect that government spending has on income distribution in Chile. The analysis is carried out by computing the Chilean Social Accounting Matrix for the year 2016 with 41 institutions. The results obtained show that households with higher income have a lower elasticity of income to government expenditure than lower-income households. The high elasticity in higher incomes is consequence of the high stake of income and the high elasticity of the low-income households is consequence of a poor participation on the income distribution. Thus, when the effects on the households is measured by its nominal impact, the highest income household receives 10 times more income than lowest income household as consequence of the fiscal expenditure. Using counterfactual simulations it is shown that this regressive effect of government spending has its origin in the unequal distribution of personal income made by markets. |
| Keywords: | Income Distribution; Social Accounting Matrix; Chile; Multiplier Mode |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:aoz:wpaper:84&r= |
| By: | Laura Juárez (El Colegio de México); Yunuen Nicte Rodríguez Piña (Consejo Nacional de Evaluación de la Política de Desarrollo Social) |
| Abstract: | In this paper, we estimate the impact of a non-contributory pension, in operation at the federal level between 2007 and 2012, on the subjective wellbeing of older adults. Our results suggest that, on average, this pension had a positive, and statistically significant, effect on the subjective wellbeing of older women, but not on that of older men. However, a heterogeneous impact analysis reveals that there are positive impacts of this pension for men who speak and indigenous language, and that the positive impacts are more pronounced for older women without primary education. |
| Keywords: | pensiones no contributivas, bienestar subjetivo, adultos mayores |
| JEL: | D04 I31 J14 |
| Date: | 2020–02 |
| URL: | http://d.repec.org/n?u=RePEc:emx:ceedoc:2020-03&r= |
| By: | Muriel Dal-Pont Legrand (CNRS - Centre National de la Recherche Scientifique, GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (... - 2019) - COMUE UCA - COMUE Université Côte d'Azur (2015 - 2019) - CNRS - Centre National de la Recherche Scientifique - UCA - Université Côte d'Azur, UCA - Université Côte d'Azur) |
| Abstract: | This paper analyses how the macro agent-based literature which developed intensively during the last decades, analyses the issue of financial instability. This paper focuses its attention on two specific researchers' communities which, within this new paradigm, specifically emphasize this question. We examine their common analytical foundations, how they have been influenced by anterior research programs, and we distinguish their modeling strategies and how these distinct strategies led them to follow somewhat different objectives. |
| Abstract: | Ce papier analyse comment la macroéconomie multi-agents (MABM) qui a récemment connu un développement important, analyse la question de l'instabilité financière. Ce papier focalise l'attention sur deux communautés de chercheurs qui, au sein de ce paradigme, contribuent aujourd'hui plus spécifiquement à cette question. Nous examinons leurs fondements analytiques communs, notamment via les influences partagées issues de programmes de recherche antérieurs, ainsi que leurs stratégies de modélisation respectives et montrons ainsi comment ces dernières les conduisent à définir des objectifs quelque peu différents. |
| Keywords: | Minsky,K&S,CATS,microeconomic foundations,financial instability,Macro agent-based models,Leijonhufvud,Stiglitz |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03325545&r= |
| By: | Doss, Cheryl; Rubin, Deborah |
| Abstract: | Interest in the meaning and measurement of women’s empowerment has become a stated goal of many programs in international development. This paper explores a collaborative process of studying women’s empowerment in agricultural research for development using both quantitative and qualitative methods. It draws on three bodies of research around empowerment, growing interest in qualitative methods, and measurement research, especially the conceptualization and adaptations of the Women’s Empowerment in Agriculture Index. Employing mixed methods over more than a decade of cooperation among researchers from the Global South and the Global North has challenged the methods and findings of each approach. The work has led to new insights about gender differences in what empowerment means to women and to men, the importance of context, interrelationships among dimensions of empowerment, and the need for greater precision in terms and measures, particularly around decision-making, asset ownership, and time use. Such collaborative research benefits from a long timeframe to build trust and shared understandings across disciplines. The paper concludes with suggestions for the next phase of research. |
| Keywords: | WORLD; empowerment; gender; women; women's empowerment; methods; research; decision making; capacity development; mixed methods; WEAI; collaborative research; Women’s Empowerment in Agriculture Index |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2035&r= |
| By: | Clark, Andrew E; Lepinteur, Anthony |
| Abstract: | We use data from the COME-HERE longitudinal survey collected by the University of Luxembourg to assess the effects of the policy responses to the COVID-19 pandemic on life satisfaction in France, Germany, Italy, Spain and Sweden over the course of 2020. Policy responses are measured by the Stringency Index and the Economic Support Index from the Blavatnik School of Government. Stringency is systematically associated with lower life satisfaction, controlling for the intensity of the pandemic itself. This stringency effect is larger for women, those with weak ties to the labour market, and in richer households. The effect of the Economic Support is never statistically different from zero. |
| Keywords: | COVID-19, Life Satisfaction, Policy Stringency, Economic Support |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cpm:docweb:2108&r= |
| By: | Rashid, Shahidur; Kabir, Razin |
| Abstract: | Bangladesh has a long history of catering to the consumption needs of its population through public distribution of food-grains—rice and wheat—stored across an extensive network of warehouses all over the country. This network has its roots in the Bengal famine, but now performs a variety of functions ranging from price support to providing a safety net against crises. However, the storage infrastructure is old, with many warehouses having originated some sixty years ago. The food security situation in Bangladesh has also improved remarkably from the time when this warehousing network was established. Finally, there have been remarkable improve-ments in both technology and management of grain storage that have increased overall efficiency. |
| Keywords: | BANGLADESH, SOUTH ASIA, ASIA, grain, rice, wheat, food storage, storage losses, public sector, food security |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprpp:5&r= |
| By: | Jin, Zhangfeng |
| Abstract: | This paper investigates whether and how China's adoption of Soviet-aided industrialization programs in the 1950s has affected its long-run innovation. Focusing on 156 major industrial projects aided by the Soviet Union, combined with an instrumental variable approach, I find that the adoption of these programs substantially discourages local firms to innovate in the long run. A causal mediation analysis of instrumental variable settings shows that the negative effect is entirely driven by local firms' lower intensity of incentive pay. This evidence suggests disadvantages of Soviet-aided industrialization programs for long-run innovation due to firms adopting incentive-incompatible management technology. |
| Keywords: | Soviet Aid,Technology Transfers,Incentive Pay,Innovation,China |
| JEL: | O10 O30 L20 M52 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:932&r= |
| By: | Cyril Bénézet (LaMME - Laboratoire de Mathématiques et Modélisation d'Evry - UEVE - Université d'Évry-Val-d'Essonne - ENSIIE - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Emmanuel Gobet (CMAP - Centre de Mathématiques Appliquées - Ecole Polytechnique - X - École polytechnique - CNRS - Centre National de la Recherche Scientifique); Rodrigo Targino (FGV/EMAp - Fundação Getulio Vargas - Escola de Matemática Aplicada [Rio de Janeiro]) |
| Abstract: | In financial risk management, modelling dependency within a random vector X is crucial, a standard approach is the use of a copula model. Say the copula model can be sampled through realizations of Y having copula function C: had the marginals of Y been known, sampling X^(i) , the i-th component of X, would directly follow by composing Y^(i) with its cumulative distribution function (c.d.f.) and the inverse c.d.f. of X^(i). In this work, the marginals of Y are not explicit, as in a factor copula model. We design an algorithm which samples X through an empirical approximation of the c.d.f. of the Y marginals. To be able to handle complex distributions for Y or rare-event computations, we allow Markov Chain Monte Carlo (MCMC) samplers. We establish convergence results whose rates depend on the tails of X, Y and the Lyapunov function of the MCMC sampler. We present numerical experiments confirming the convergence rates and also revisit a real data analysis from financial risk management. |
| Keywords: | Copula models,Markov chain Monte Carlo MCMC methods,sampling |
| Date: | 2021–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03334526&r= |
| By: | P. Facundo Cuevas; Leonardo Lucchetti; Metin Nebiler |
| Abstract: | Fiscal policy is central to not only macroeconomic stability and growth, but also to poverty and inequality reduction. This paper provides the most comprehensive assessment of the distributional incidence of Turkey’s fiscal policy to date. It analyzes the combined and individual incidence of direct and indirect taxes, transfers, and social spending and benchmarks Turkey’s achievements against peer countries. The results show that fiscal policy significantly reduces income inequality in Turkey, driven by social spending on education and health, and complemented by direct taxes and transfer schemes that countervail the inequality-increasing impact of indirect taxes. At the bottom of the income distribution, targeted transfers are insufficient to compensate for the effect of taxes, resulting in net increases in poverty. In the context of upper-middle-income countries, Turkey’s performance is below the median. This is driven by the relatively larger negative impacts of indirect taxes and the more limited positive impacts of direct transfers and taxes. From a policy perspective, the paper contributes to identifying entry points for improving the equity impact of the fiscal package. Among these, targeting the minimum subsistence allowance (AGI) program toward the poor could be an efficient way forward. More broadly, the study represents a platform to simulate the distributional implications of a variety of fiscal changes to inform stakeholders and the policy debate. |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:tul:ceqwps:100&r= |
| By: | Dongdong Hu; Hasanjan Sayit; Svetlozar T. Rachev |
| Abstract: | The paper Borovkova et al. [4] uses moment matching method to obtain closed form formulas for spread and basket call option prices under log normal models. In this note, we also use moment matching method to obtain semi-closed form formulas for the price of spread options under exponential L\'evy models with mean-variance mixture. Unlike the semi-closed form formulas in Caldana and Fusai [5], where spread prices were expressed by using Fourier inversion formula for general price dynamics, our formula expresses spread prices in terms of the mixing distribution. Numerical tests show that our formulas give accurate spread prices also |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02872&r= |
| By: | Maria Mercanti-Guérin (IAE Paris - Sorbonne Business School) |
| Abstract: | The aim of this research is to measure the influence of social downgrading on consumer values and practices. Intergenerational mobility is defined as a process leading to a change in social status from parents to children. The first part of this paper presents social mobility and emphasises its multidimensional character. In particular, we detail the different types of objective and subjective mobility. In the second part, we analyse the symbolic and psychological aspects of the acceptance or rejection of social downgrading. We present the results of an exploratory study based on the life stories of a dozen families. It appears that some downgraded individuals do not accept to give up the lifestyle inherited from their childhood and perceive it as an intimate part of their identity. Others, on the contrary, rebuild new identities and modes of consumption based on a "reappropriation of their declassification". This study provides a better understanding of social downgrading by presenting it as a complex process combining the incorporation of a new social status, transgenerational capital and new forms of consumer resistance. |
| Keywords: | Downward Social Mobility,Inter-Generational Mobility,Trans-Generational Capital,Identity,Values,Social Status |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03329251&r= |
| By: | Andrew R. Casey; Ilya Mandel; Prasun K. Ray |
| Abstract: | 'Publish or perish' is an expression describing the pressure on academics to consistently publish research to ensure a successful career in academia. With a global pandemic that has changed the world, how has it changed academic productivity? Here we show that academics are posting just as many publications on the arXiv pre-print server as if there were no pandemic: 168,630 were posted in 2020, a +12.6% change from 2019 and $+1.4\sigma$ deviation above the predicted 162,577 $\pm$ 4,393. However, some immediate impacts are visible in individual research fields. Conference cancellations have led to sharp drops in pre-prints, but laboratory closures have had mixed effects. Only some experimental fields show mild declines in outputs, with most being consistent on previous years or even increasing above model expectations. The most significant change is a 50% increase ($+8\sigma$) in quantitative biology research, all related to the COVID-19 pandemic. Some of these publications are by biologists using arXiv for the first time, and some are written by researchers from other fields (e.g., physicists, mathematicians). While quantitative biology pre-prints have returned to pre-pandemic levels, 20% of the research in this field is now focussed on the COVID-19 pandemic, demonstrating a strong shift in research focus. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06591&r= |
| By: | Italo Colantone; Gianmarco Ottaviano; Piero Stanig |
| Abstract: | We review the literature on the globalization backlash, seen as the political shift of voters and parties in a protectionist and isolationist direction, with substantive implications on governments’ leaning and enacted policies. Using newly assembled data for 23 advanced democracies, we document a protectionist and isolationist shift in electorates, legislatures, and executives from the mid-1990s onwards. This is associated with a noticeable protectionist shift in trade policy –although with some notable nuances– especially since the financial crisis of 2008. We discuss the economics of the backlash. From a theoretical perspective, we highlight how the backlash may arise within standard trade models when taking into account the ‘social footprint’ of globalization. Then, we review the empirical literature on the drivers of the backlash. Two main messages emerge from our analysis: (1) globalization is a significant driver of the backlash, by means of the distributional consequences entailed by rising trade exposure; yet (2) the backlash is only partly determined by trade. Technological change, crisis-driven fiscal austerity, immigration, and cultural concerns are found to play an important role in creating politically consequential cleavages. Looking ahead, we discuss possible future developments, with specific focus on the issue of social mobility |
| Keywords: | Globalization, Social Footprint, Backlash |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:baf:cbafwp:cbafwp20165&r= |
| By: | Kyle Butts |
| Abstract: | A recent econometric literature has critiqued the use of regression discontinuities where administrative borders serves as the 'cutoff'. Identification in this context is difficult since multiple treatments can change at the cutoff and individuals can easily sort on either side of the border. This note extends the difference-in-discontinuities framework discussed in Grembi et. al. (2016) to a geographic setting. The paper formalizes the identifying assumptions in this context which will allow for the removal of time-invariant sorting and compound-treatments similar to the difference-in-differences methodology. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07406&r= |
| By: | Plamen Nikolov; Steve Yeh |
| Abstract: | Cognitive abilities are fundamental for decision-making, and understanding the causes of human capital depreciation in old age is especially important in an aging society. Using a longitudinal labor survey that collects direct proxy measures of cognitive skills, we study the effect of educational attainment on cognitive performance in late adulthood in South Africa. We find robust evidence that an increase in a year of schooling improves memory performance and general cognition. We also find evidence of heterogeneous effects of educational attainment on cognitive performance. We explore the mechanisms through which education can affect cognitive performance. We show that a more supportive social environment, improved health habits, and reduced stress levels likely play a critical role in mediating the beneficial effects of educational attainment on cognition among the elderly. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02177&r= |
| By: | Anne Lardoux de Pazzis (Vertalix Consulting); Amandine Muret (Vertalix Consulting) |
| Abstract: | A wide range of organisations operate at the interface between the demand for (e.g. water agencies or service providers) and the supply of finance (e.g. financing institutions and financiers at large) with the aim of bridging the substantial financing gap for water-related investments. These entities, referred to in this analysis as “intermediaries”, include those working upstream on the enabling environment for finance facilitation; transaction advisory supporting partnership development (of which financing is one component), private sector lending windows of donors and international financial institutions, and dedicated financing facilities. These intermediaries play multiple roles along the investment value chain, in various geographies and at various scales (international, national, regional, local). However a systematic assessment of these intermediaries, their role and the key functions performed has been lacking to date along with an assessment of the gaps, overlaps and misalignments compared with the existing bottlenecks to mobilise financing. The analysis presented in this Working Paper aims to fill this gap. This paper identifies and analyses a sample of 52 diverse intermediaries active in deploying one or more key functions across the investment value chain for 3 specific sub-sectors: utilities, small scale water and sanitation service providers and nature-based solutions. The analysis assesses the extent to which the activities of these intermediaries is aligned with the critical functions needed to mobilise finance across the sub-sectors. It identifies gaps, reduncies and misalignments and calls for a shift from the current opportunistic approach to a more strategic approach in the design and activities of intermediaries, supported by governments and financial institutions. The paper contributes to a forthcoming OECD report Financing a Water Secure Future that distils key insights from the past several years of engagement via the Roundtable on Financing Water and related analytical work. It was jointly developed by the OECD and The World Bank Global Water Practice, in the context of our cooperation on the Roundtable on Financing Water. |
| Keywords: | flood protection, infrastructure finance, investment, irrigation, sanitation, wastewater, water security, water supply |
| JEL: | H41 H54 L95 L98 Q25 Q53 Q54 Q58 |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaaa:180-en&r= |
| By: | Tim Kovalenko |
| Abstract: | Uncertainty shocks are found to adversely affect labor market outcomes. Most studies attribute labor adjustments costs for the propagation of macroeconomic uncertainty to the labor market. Given that large establishments in Germany face higher labor adjustments cost, they should be affected more strongly by these shocks. Therefore, this paper studies the effects of uncertainty shocks on employment adjustments in large and small establishments employing four structural vector auto-regressive models with quarterly data for Germany in the period 1991-2014. These four models estimate effects of uncertainty shocks on employment, worker flows, job flows as well as worker churn, both for establishments with less than 100 and with at least 100 employees. The results suggest that uncertainty shocks induce considerable employment fluctuations in large establishments, while they have barely an effect on small establishments. Furthermore, large establishments adjust their labor input in response to an uncertainty shock by delaying the replacement of workers who leave these establishments. |
| Keywords: | homeownership, housing subsidies, residential location choice, suburbanization |
| JEL: | H24 H30 H71 R23 R28 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bav:wpaper:212_kovalenko&r= |
| By: | Christian Merkl; Heiko Stüber |
| Abstract: | We document substantial cross-sectional heterogeneity of German establishments’ real wage cyclicality over the business cycle. While wages of the median establishment are moderately procyclical, 36 percent of establishments have countercyclical wages. We estimate a negative connection between establishments’ wage cyclicality and their employment cyclicality, thereby providing a benchmark for quantitative macroeconomic models. We propose and calibrate a labor market flow model to match various empirical facts and to perform counterfactual exercises. If all establishments behaved as the most procyclical ones, labor market amplification would drop by one-third. If all followed Nash bargaining, it would drop by more than two-thirds. |
| Keywords: | wage cyclicality, employment cyclicality, labor market flow model, labor market dynamics, establishments, administrative data |
| JEL: | E32 E24 J64 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_9283&r= |
| By: | Babak Naysary (INTI International University, Faculty of Business, Nilai, Malaysia); Ruth Tacneng (LAPE - Laboratoire d'Analyse et de Prospective Economique - GIO - Gouvernance des Institutions et des Organisations - UNILIM - Université de Limoges); Amine Tarazi (LAPE - Laboratoire d'Analyse et de Prospective Economique - GIO - Gouvernance des Institutions et des Organisations - UNILIM - Université de Limoges) |
| Abstract: | This paper investigates the relationship between an individual's saving and borrowing practices and his/her propensity to use fintech services. More particularly, we examine whether having multiple saving and borrowing channels increases a person's likelihood to participate in online funding platforms, and use robo-advisors. Using a sample of over 2000 respondents to a survey we conducted in Malaysia, our main results indicate that individuals who save and borrow via multiple channels, and through external conduits, are more likely to use fintech services than their counterparts. This is consistent with the view that individuals who use multiple saving and borrowing conduits are more likely to perform mental accounting, a concept which is commonly used by fintech companies to facilitate personal wealth management. Further, our findings reveal that among respondents with multiple saving channels, those who put less importance on trust in financial products, and consider financial returns essential, are the most likely users of fintech services. Overall, our findings offer new insights by providing a better understanding of the factors that foster the use of fintech services. |
| Keywords: | alternative lending,trust,fintech,P2P lending platforms,crowdfunding,robo-advisors |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03335254&r= |
| By: | SASAHARA Akira; MORI Hiroaki |
| Abstract: | This paper investigates the role of international trade in explaining the closing gender gaps in the U.S. We build a model with two countries, each of which consists of manufacturing and service sectors as well as female and male labor. A greater female labor intensity in the service sector and an increase in imports of manufacturing varieties generate our key results. The model demonstrates that decreasing trade costs and increasing foreign manufacturing productivity lead to a rise in the service sector at home. This change increases the relative demand for female labor and raises the relative wage for female workers. Our counterfactual analysis quantifies the contribution of trade-related causes in explaining the narrowed gender gaps during the 1968-2008 period. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:21076&r= |
| By: | Emmanuel Laffort (CREG - Centre de recherche et d'études en gestion - UPPA - Université de Pau et des Pays de l'Adour); Nicolas Dufourg (PSB - Paris School of Business) |
| Abstract: | This research explores the contribution of Niklas Luhmann's radical systemic sociology to External Fraud Risk Management. To do this, we use two Luhmannian distinctions — between risk and danger, and between confidence and trust — to verify their (in)validity based on two empirical studies on Healthcare Insurance Companies (HIC) to reduce the risk of external fraud. This study concludes that the Luhmannian framework is relevant for external fraud management issues. |
| Abstract: | Esta obra explora la contribución de la sociología sistémica radical de Niklas Luhmann a la gestión del fraude externo, utilizando dos distinciones luhmannianas -entre riesgo y peligro y entre confianza asegurada y decidida- para verificar su (in)validez sobre la base de dos estudios empíricos de reducción del riesgo de fraude en el contexto de las mutuas de seguros de salud (HIC). Este estudio concluye que el marco de Luhmannian es la clave para comprender la gestión del riesgo de fraude externo |
| Abstract: | Ce travail explore l'apport de la sociologie systémiqueradicale de Niklas Luhmann à la gestion de la fraude externe. Pour cela, nous utilisons deux distinctions luhmanniennes — entre risque et danger ainsi qu'entre confiance assurée et confiance décidée — pour vérifier leur (in)validité à partir de deux travaux empiriques de réduction du risque de fraude dans le cadre des mutuelles santé (HIC). Cette étude conclut à la pertinence du cadre luhmannien en tant que clé de lecture de la gestion du risque de fraude externe. |
| Keywords: | External fraud,Niklas Luhmann,Systemic sociology,Risk/danger disctinction,Fraude externo,Sociologia de sistemas,Disntincio entre riesgo y oeligro,Fraude externe,Sociologie systémique,Distinction risque/danger |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03336033&r= |
| By: | Francesca Caselli; Matilde Faralli; Paolo Manasse; Ugo Panizza |
| Abstract: | This paper studies whether countries benefit from servicing their debts during times of widespread sovereign defaults. Colombia is typically regarded as the only large Latin American country that did not default in the 1980s. Using archival research and formal econometric estimates of Colombia's probability of default, we show that in the early 1980s Colombia's fundamentals were not significantly different from those of the Latin American countries that defaulted on their debts. We also document that the different path chosen by Colombia was due to the authorities' belief that maintaining a good reputation in the international capital market would have substantial long-term payoffs. We show that the case of Colombia is more complex than what it is commonly assumed. Although Colombia had to re-profile its debts, high-level political support from the US allowed Colombia do to so outside the standard framework of an IMF program. Our counterfactual analysis shows that in the short to medium run, Colombia benefited from avoiding an explicit default. Specifically, we find that GDP growth in the 1980s was higher than that of a counterfactual in which Colombia behaved like its neighboring countries. We also test whether Colombia's behavior in the 1980s led to long-term reputational benefits. Using an event study based on a large sudden stop, we find no evidence for such long-lasting reputational gains. |
| JEL: | F34 F32 H63 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bol:bodewp:wp1163&r= |
| By: | Susanti, Dian; Susanto, Romi |
| Abstract: | The purpose of this study was to determine the implementation of credit at PT. Bank Perkreditan Rakyat Samudera Painan. The research method used is a qualitative data analysis method. The result described how credit distribution, credit growth, and credit collectibillity. The result of this study found that the granting of credit at PT. Bank Perkreditan Rakyat Samudera Painan has several stages namely, credit application stage, credit analysis stage, credit decision stage, credit contract stage and credit disbursement stage. |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:vhuz9&r= |
| By: | Mateo Hoyos (Department of Economics, University of Massachusetts Amherst); Emiliano Libman (University of General San Martín); Arslan Razmi (Department of Economics, University of Massachusetts Amherst) |
| Abstract: | We study the extent to which countries undergo structural change during and after episodes of sustained investment surges. In particular, we explore the evolution of trade flows, considering (i) exports sophistication or complexity, (ii) exports diversification, and (iii) capital goods imports. Using the episodes identified by Libman et al. (2019), we document the heterogeneous nature of these episodes and find that, while imports of capital goods increase, they are not systematically related to changes in sophistication, complexity and diversification of exports, at least for the available sample of 130 episodes over the period 1962-2014. High investment may often be a necessary but not sufficient condition for structural change. |
| Keywords: | Capital accumulation, diversification, economic complexity, development. |
| JEL: | E22 F41 O11 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-09&r= |
| By: | Illenin Kondo; Logan T. Lewis; Andrea Stella |
| Abstract: | We compare parametric estimates of the establishment size distribution between the Synthetic Longitudinal Business Database (SynLBD) against our results (Kondo et al. 2020) using the confidential Longitudinal Business Database (LBD). We find that while the SynLBD qualitatively produces the same ranking of distribution fit, the differences in quantitative estimates are economically meaningful. In particular, we show that the SynLBD does not accurately represent the right tail of the establishment size distribution. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cen:tnotes:21-06&r= |
| By: | Bozhechkova Alexandra (Gaidar Institute for Economic Policy); Trunin Pavel (Gaidar Institute for Economic Policy) |
| Abstract: | In 2020, the world economy was faced with a large-scale crisis caused by the coronavirus pandemic, a worsening situation in the global oil market, increasing global uncertainty, and capital outflows from emerging markets. The crisis phenomena were experienced, to a varying degree, by every sector of the economy and required the implementation of a set of urgent monetary policy measures. The Bank of Russia’s switchover to monetary policy easing became its key decision aimed at sustaining aggregate demand: in 2020, the regulator cut the key rate four times, from 6.25% per annum in February to 4.25% per annum in July, thus sinking it to its historic low. |
| Keywords: | Russian economy, monetary policy, money market, exchange rate, inflation, balance of payments |
| JEL: | E31 E43 E44 E51 E52 E58 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1117&r= |
| By: | Congressional Budget Office |
| Abstract: | This report describes VA’s mortgage guarantee program, including eligibility and underwriting criteria, the structure of the guarantees, and the volume and characteristics of borrowers who obtain such guarantees. The report also describes CBO’s estimates of the budgetary costs of the program and compares those costs with expenditures for other federal guarantees. |
| JEL: | D14 D31 G21 G51 H56 |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:cbo:report:57024&r= |
| By: | Wittmann, Florian; Hufnagl, Miriam; Roth, Florian; Yorulmaz, Merve; Lindner, Ralf |
| Abstract: | The promise of mission-oriented innovation policies (MOIP) to address some of the grand societal challenges as a cross-sectoral and interdisciplinary approach to innova-tion policy with increased directionality has raised high hopes. However, the complexity attached to MOIP constitutes a challenge, both for policy-makers and innovation schol-ars. Seeking to enhance our understanding of MOIP and the diverse policy choices and challenges involved, we propose a conceptualization of missions as multiple, intercon-nected translation processes that span from a societal challenge as the starting point to impacts as the ultimate translational stage. We argue that adopting a process-oriented perspective is well-suited to account for the interdependencies and complex feedback dynamics among the different stages during the realization of MOIP. The proposed framework aims to support the development of frameworks for impact assessment, but also yields relevant insights for policy-makers implementing MOIP. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisidp:71&r= |
| By: | Rosanna Grassi; Paolo Bartesaghi; Gian Paolo Clemente; Duc Thi Luu |
| Abstract: | We analyse the multilayer architecture of the global input-output network using sectoral trade data (WIOD, 2016 release). With a focus on the mesoscale structure and related properties, we find that the multilayer analysis that takes into consideration the splitting into industry-based layers is able to catch more peculiar relationships between countries that cannot be detected from the analysis of the single-layer aggregated network. We can identify several large international communities in which some countries trade more intensively in some specific layers. However, interestingly, our results show that these clusters can restructure and evolve over time. In general, not only their internal composition changes, but the centrality rankings of the members inside are also reordered, with the diminishing role of industries from some countries and the growing importance of those from some other countries. These changes in the large international clusters may reflect the outcomes and the dynamics of cooperation as well as competition among industries and among countries in the global input-output network. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02946&r= |
| By: | Eduardo Levy Yeyati (Universidad Torcuato Di Tella/The Brookings Institution); Federico Favata (CIMaD - EEyN UNSAM); Martín Montané (Universidad Torcuato Di Tella); Daniel Schteingart (Centro de Estudios para la Producción) |
| Abstract: | Este trabajo presenta una primera aproximación al panorama presente y la evolución reciente del mercado de trabajo en la Argentina que nos permita poner en contexto el debate de las políticas de empleo de cara al futuro, y está basado en la información públicamente disponible. Para datos internacionales, las fuentes son la Organización Internacional del Trabajo (OIT) y la Organización para la Cooperación y el Desarrollo Económico (OCDE). Para datos locales, usamos la Encuesta Permanente de Hogares (EPH) en su modalidad continua (que se inicia en 2003) y, en menor medida, el Observatorio de Empleo y Dinámica Empresarial del Ministerio de Trabajo, Empleo y Seguridad Social (OEDE-MTEySS), la Cuenta de Generación del Ingreso (CGI) del INDEC y estimaciones propias de la OIT. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:aoz:wpaper:82&r= |
| By: | Pisor, Anne (Washington State University); Ross, Cody T. |
| Abstract: | While intergroup relationships (IRs) dominate the literature on human sociality, long-distance relationships (LDRs) are also highly prevalent in human social life; however, they are often conflated with IRs or overlooked entirely. We suggest that by focusing on IRs to the exclusion of LDRs, scholars are painting an incomplete picture of human sociality. Though both IRs and LDRs function to provide resource access, LDRs likely evolved before IRs in the human lineage and are especially effective for both responding to widespread resource shortfalls and providing access to resources not locally available. To illustrate the importance of distinguishing IRs from LDRs, we draw on an example from rural Bolivia. This case study illustrates how (1) IRs and LDRs vary in importance, even between nearby communities, due to differences in socioecology and past experience, and (2) researcher expectations about IR prevalence can bias both data collection and data interpretation. We close by highlighting areas of LDR research that will expand our understanding of human sociality. |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:u8tgq&r= |
| By: | Saúl Mendoza-Palacios (El Colegio de México); Julen Berasaluce (El Colegio de México); Alfonso Mercado (El Colegio de México) |
| Abstract: | This paper proposes a dynamic model to show that the coordination of public policies is a key driving factor for an economy to develop successfully. We analyze three public policy domains: innovation policies; policies of human resources training, wages and employment; and push policies. These policies determine whether the economy achieves paths that drive it to a full industrialization, which happens when the initial state lies above the industrialization frontier. Otherwise, the economy would remain stuck in a poverty trap, where there are no marginal incentives for industrialization or training of labor. |
| Keywords: | Industrialization Policy, Coordination, Technological Change, Choice of Technology, Push Strategies, Evolutionary Dynamics |
| JEL: | C73 I28 J24 O25 O38 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:emx:ceedoc:2021-01&r= |
| By: | Jean-Guillaume Dumas (CASC - Calcul Algébrique et Symbolique, Sécurité, Systèmes Complexes, Codes et Cryptologie - 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); Sonia Jimenez-Garcès (CERAG - Centre d'études et de recherches appliquées à la gestion - UGA - Université Grenoble Alpes); Florentina Șoiman (CASC - Calcul Algébrique et Symbolique, Sécurité, Systèmes Complexes, Codes et Cryptologie - 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, CERAG - Centre d'études et de recherches appliquées à la gestion - UGA - Université Grenoble Alpes) |
| Abstract: | After ten years of continuous development and innovation, the cryptomarket and the Blockchain technology are still very much challenged and far from the mainstream adoption. We thus propose a risk assessment, as well as a market analysis of the Blockchain technology and the cryptomarket. This study is conceived as a two-level analysis. We first start with the micro-level analysis by performing a detailed risk assessment. Here, we take into consideration technological issues, such as such as consensus, network, cryptographic primitives, quantum and smart contract attacks, together with financial concerns such as market, information, liquidity, supply, reputation and environmental risks. Moreover, we propose ways to determine the probability that technological vulnerabilities can trigger financial risk. Here, we tackle concepts such as financial behavior, responsible investment and Blockchain literacy, as possible tools for assessing risk. Then, we complete this study with a macro-level analysis, which consists of the crypto-market appraisal performed with the Porter's five forces model. This market analysis is performed with respect to its stakeholders, such as the business process managers, investors, regulators, firms, developers, miners, hackers, exchange and trading platforms, etc. The results are relative to: 1. an identified continuity between the technological risks and financial ones; 2. a way to determine the likelihood of triggering financial risks through technical vulnerabilities; 3. a long-term profitability of the stakeholders' strategy / position within the market. |
| Keywords: | Blockchain,Risk assessment,Financial risks,Technological characteristics,Stakeholders,Financial behavior,Blockchain literacy,Socially responsible investment |
| Date: | 2021–01–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03112920&r= |
| By: | Nicos Christodoulakis (Athens University of Economics and Business) |
| Abstract: | Using long term statistical series for Greece, the study locates and discusses the adjustments that took place in Greece during the 19th century in order to stabilize the economy, accumulate foreign reserves to support the viability of the currency regime and, thus, regain access to international markets. Most of the time the effort was fruitless and, finally led to bankruptcy in 1893. Then, in 1898 the International Economic Control was imposed to redress public finances and prepare the country for a more credible and lasting participation in the Gold Standard that finally takes place in 1910. Despite the fact that the Banking system and the process of accumulating foreign exchange reserves were following sensible rules, accumulation was so weak that the inability to achieve creditworthiness and trust among the more developed economies in Europe became endemic and left Greece without the precious access to capital and bond markets in Western Europe. |
| Date: | 2021–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:aue:wpaper:2110&r= |
| By: | Michael Roos; Matthias Reccius |
| Abstract: | There is growing awareness within the economics profession of the important role narratives play in the economy. Even though empirical approaches that try to quantify economic narratives are getting increasingly popular, there is no theory or even a universally accepted definition of economic narratives underlying this research. First, we review and categorize the economic literature concerned with narratives and work out the different paradigms that are at play. Only a subset of the literature considers narratives to be active drivers of economic activity. In order to solidify the foundation of narrative economics, we propose a definition of collective economic narratives, isolating five important characteristics. We argue that, for a narrative to be economically relevant, it must be a sense-making story that emerges in a social context and suggests action to a social group. We also systematize how a collective economic narrative differs from a topic and from other kinds of narratives that are likely to have less impact on the economy. With regard to the popular use of topic modeling as an empirical strategy, we suggest that the complementary use of other canonical methods from the natural language processing toolkit and the development of new methods is inevitable to go beyond identifying topics and be able to move towards true empirical narrative economics. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02331&r= |
| By: | Fiala, Lenka (Tilburg University, School of Economics and Management) |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:cb2e6205-2e96-43e6-bdb6-e63973f92837&r= |
| By: | Richard S.J. Tol (Department of Economics, University of Sussex, Falmer, United Kingdom) |
| Abstract: | Video discussion of stochastic frontier analysis of the impact of climate and weather on economic output. |
| Keywords: | climate change, stochastic frontier analysis, weather, video |
| JEL: | Q54 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:sus:susvid:2109&r= |
| By: | Malginov Georgiy (Gaidar Institute for Economic Policy); Radygin Alexandr (Gaidar Institute for Economic Policy) |
| Abstract: | From 2016 onwards, statistical data on public property entities have been published within the framework of the System of Public Property Management Efficiency Estimates. It was approved by Decree of the RF Government No. 72 dated January 29, 2015, and introduced to replace the public sector monitoring data that had been collected and released by the Federal State Statistics Service (Rosstat) since the early 2000s in accordance with the provisions stipulated in RF Government Decree No. 1 dated January 4, 1999 (as amended on December 30, 2002). Among other things, the System contains data on the number of federal state unitary enterprises (FSUEs) and joint-stock companies (JSCs) with RF stakes in their capital; previously, such data were usually published as part of government privatization programs (from 2011, for three-year period; and prior to 2011, for one-year period). In the current Forecast Plan (Program) of Federal Property Privatization and the Main Directions of Federal Property Privatization for 2020–2022, relevant data are available only as of early 2019. So, in order to adequately describe the processes observed over the course of the current year, one must rely specifically on data in the System of Public Property Management Efficiency Estimates. |
| Keywords: | Russian economy, public sector, privatization |
| JEL: | K11 H82 L32 L33 L38 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1129&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | In Law No. 6 of 2014 the village affirms that the village is no longer an administrative area, not even a subordinate or an element of regional implementation, but a special and independent area. The purpose of this research is to analyze the implementation of the function of Village Consultative Board in village development in Aloban Village, Portibi District, Padang Lawas Utara District. The method used in this study using descriptive method with a qualitative approach, research directed to provide accurate and systematic symptoms, facts or events about the properties of specific populations and areas. The results of this study found that the function of Village Deliberation Agency in Aloban Village has not been running as its function. |
| Date: | 2020–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:3dkhs&r= |
| By: | Stefano Colonnello (Department of Economics, University Of Venice CÃ Foscari; Halle Institute for Economic Research (IWH)); Roberto Marfè (Collegio Carlo Alberto, Turin); Qizhou Xiong (Saïd Business School, University of Oxford) |
| Abstract: | This paper investigates heterogeneity in residential property yields using rental and sale listings from the largest German internet real estate platform. Equipped with property-level rent-to-price ratios obtained via matching properties for sale and for rent, we show that they strongly co-move with local factors, such as population age structure, industry structure, housing supply rigidities, and the liquidity and size of the housing market. Regional differences are particularly pronounced between globally relevant cities and other areas. However, a large fraction of the variation of rent-to-price ratios can be explained neither by local factors nor by an extensive array of property-specific observable features, pointing to the crucial role of idiosyncratic factors and within-city aggregation economies. We then create a pseudo-panel to examine the time-series dimension of house prices and show that the ability of expectations about discount and rent growth rates impounded in rent-to-price ratios to predict return and rent growth is statistically significant but of limited economic magnitude. |
| Keywords: | Housing, Rent-to-Price Ratio, Asset Pricing, Agglomeration Economies |
| JEL: | G12 G51 R31 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ven:wpaper:2021:21&r= |
| By: | Beltrán, Fernando |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238009&r= |
| By: | Oktaldi, Indra; fernos, jhon |
| Abstract: | The purpose of this study is to determine the analysis of Loan to Deposit Ratio (LDR) and Non Performing Loans (NPL) at PT. Bank Perkreditan Rakyat Gema Pesisir Air Haji Pesisir Selatan. In analyzing the data, the authors used analysis data quantitative methods. Quantitative data is information data that is expressed in the form of figures from the measurement and calculation of the Loan To Deposit Ratio (LDR) and Non Performing Loan (NPL) analysis at PT. Bank Perkreditan Rakyat Gema Pesisir Cabang Air Haji Kabupaten Pesisir Selatan. The results of this study indicate that in the period 2018 - 2020 the Loan Deposit to Ratio (LDR) from the evaluation results is classified as healthy because the everages of value is 80,33% with the evaluation criteria matrix is in the position of 75% |
| Date: | 2021–09–04 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:c3rka&r= |
| By: | Hainaut, Donatien (Université catholique de Louvain, LIDAM/ISBA, Belgium) |
| Abstract: | This article establishes the moment generating function (mgf) of self-excited claim processes with memory functions that admit a Fourier's transform representation. In this case, the claim and intensity processes may be reformulated as an infinite dimensional Markov processes in the complex plane. Approaching these processes by discretization and next considering the limit allows us to find their moment generating function. We illustrate the article by fitting non-Markov self-excited processes to the time-series of cyber-attacks targeting medical and other services, in the US from 2014 to 2018. |
| Keywords: | self-excited process, shot noise process, Hawkes process |
| JEL: | C5 G22 |
| Date: | 2021–07–02 |
| URL: | http://d.repec.org/n?u=RePEc:aiz:louvad:2021028&r= |
| By: | Yamaguchi Shintaro (Shintaro Yamaguchi); Daiji Kawaguchi (Daiji Kawaguchi) |
| Abstract: | This paper examines how the COVID-19 pandemic affected female employment in Japan. Our estimates indicate that the employment rate of married women with children decreased by 4 percentage points, while that of those without children decreased by only 1 percentage point, implying that increased childcare responsibilities caused a sharp decline in mothers’ employment. Further, mothers who left or lost their jobs appear to have dropped out of the labor force even several months after school reopening. In contrast to women, the employment rate of married men with children was not affected, which hindered progress in narrowing the employment gender gap. |
| Keywords: | Labor Force Participation, Employment, Gender Gap, COVID-19, Childcare |
| JEL: | D13 J13 J16 J21 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:crm:wpaper:2126&r= |
| By: | Helbig, Marcel; Steinmetz, Sebastian; Wrase, Michael; Döttinger, Ina |
| Abstract: | Die UN-Behindertenrechtskonvention verpflichtet Deutschland, ein inklusives Regelschulsystem und die bildungspolitischen Voraussetzungen dafür zu schaffen. Dieser Verpflichtung kommt eine Reihe von Bundesländern nicht ausreichend nach. Auch die Pflicht, relevante Daten systematisch zu erheben, wird von der Bundesrepublik Deutschland nicht umgesetzt. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wzbrbi:44&r= |
| By: | Luisa Fernanda Tovar Cortés |
| Abstract: | Bogota is a referent in social inclusion of waste pickers. In 2016, waste pickers organizations became part of the cleaning public service as providers, and they start receiving a payment. Even though the amount of collected and valorised waste has increased, the waste buried in Doña Juana’s landfill continues to grow. The paper problematizes waste valorisation in Bogota through the waste/value dialectic (Gidwani, 2012; Gidwani & Maringanti, 2016) (Gidwani, 2012; Gidwani & Maringanti, 2016). A social waste valorisation approach has been included to rethink the concept of waste beyond a resource to be reinserted into the market and rather consider it as a booster for building community networks. The methodology is based on a literature review and qualitative and quantitative research strategy involving the analysis of the official information, interviews with waste pickers, visits and field observations in Bogota accomplished since 2015. The analytical framework is developed to understand and discuss the value of waste as essential to define its management, to identify who benefits, and to support processes of a social transformation through the waste. *** Bogotá es un referente en inclusión social de recicladores. En 2016, las organizaciones de recicladores se convirtieron en prestadores del servicio público de aseo y su labor es reconocida mediante una tarifa. Aunque la cantidad de residuos recogidos y aprovechados ha aumentado, los residuos enterrados en el relleno de Doña Juana también siguen creciendo. El artículo problematiza el aprovechamiento de los residuos en Bogotá a través de la dialéctica residuos / valor. Se introduce un enfoque de valorización social para repensar el concepto de los residuos más allá de un recurso que se reintegra en el mercado y más bien considerarlo como un impulsor para la construcción de redes comunitarias. La metodología se basa en una revisión de la literatura y una estrategia de investigación cualitativa y cuantitativa que involucra el análisis de la información oficial, entrevistas con recicladores, visitas y observaciones de campo en Bogotá realizadas desde 2015. El marco analítico desarrollado busca comprender y discutir el valor de los residuos como elemento esencial para definir su gestión, identificar quiénes se benefician y apoyar procesos de transformación social a través de su gestión. |
| Keywords: | waste management, valorisation, social inclusion, waste pickers, Bogota |
| JEL: | A13 B59 Q53 |
| Date: | 2021–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:col:000430:019567&r= |
| By: | Aarts, Bas (RS: GSBE other - not theme-related research, ROA / Human capital in the region); Künn, Annemarie (RS: GSBE Theme Learning and Work, ROA / Labour market and training) |
| Abstract: | Like every year, this factsheet reports on the employability of UM alumni. How well does Maastricht University (UM) prepare its students for the labour market? What do the career paths of UM alumni look like in the short and medium term? How do UM alumni look back on their master’s studies in Maastricht? We report these Key Performance Indicators for the UM as a whole as well as for the separate faculties. The factsheet is based on alumni research among three cohorts that participated in a survey in 2020. The first cohort graduated in the academic year 2018-2019 (1.5 years prior to the survey), the second in 2014-2015 (five years prior to the survey) and the third in 2009-2010 (ten years prior to the survey).1 This year, we discuss the results also in light of the current COVID-19 situation, which has affected the labour market as a severe economic crisis. |
| Date: | 2021–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:unm:umarof:2021001&r= |
| By: | Cao, Shurui |
| Abstract: | The aim of this article is to explore using sentiment analysis to assess the openness of governments and establish a dynamic evaluation mechanism to supervise governments, and consequently improve the administrative law on a feminist basis. I build a sentiment analysis model based on communication between me and governments, discuss the implication of the model, and propose potential improvements to the administrative law in China. |
| Date: | 2021–09–16 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:8jgnm&r= |
| By: | Alexander Daminger |
| Abstract: | This paper documents effects of a homeownership subsidy’s full repeal on the urban-rural residential location choice. First, I document the distribution of population across space for German labor market regions, using official NUTS-3 level population statistics. These labor market regions usually consist of a city (the urban core) and adjacent counties (the urban hinterlands) connected by commuter flows. Second, using IV-estimations in Difference-in-Differences and Triple-Differences frameworks, I exploit the 2005 repeal of Germany’s lump-sum direct homeownership subsidy “Eigenheimzulage” on changes in this distribution across space. The results indicate that repealing subsidies to homeownership reverses subsidy-induced population flows to the periphery and thus makes regions re-urbanize. Cities’ population gains derive in large parts from families with children and young residents of “building age”, that are no longer able to become homeowners outside the city gates without the subsidy’s support. |
| Keywords: | homeownership, housing subsidies, residential location choice, suburbanization |
| JEL: | H24 H30 H71 R23 R28 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bav:wpaper:211_daminger&r= |
| By: | L. DeBenedictis; V. Licio; AM. Pinna |
| Abstract: | An integrated and widespread road system, like the one built during the Roman Empire in Italy, plays an important role today in facilitating the construction of new infrastructure. It first influenced the growth of cities, regardless of the variety of historical paths after the fall of the Roman Empire and before the unification of the country. Through this channel Roman roads have been the main determinant of both motorways and railways in the country. Even the Italian North-South divide can be ascribed, among other factors, to the way the ancient infrastructure had an influence on the modern one. |
| Keywords: | Roman roads;Railways;Provinces;Motorways;Long-term effects of history;italy |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:cns:cnscwp:202102&r= |
| By: | Michelle Baddeley (University of Technology Sydney); Geoff Harcourt |
| Abstract: | Sub-optimal levels of investment in fixed capital are a pressing problem for modern economics. Behavioural economics provides some potential explanations, but behavioural economic insights are not commonly incorporated into standard capital investment models which capture neither the diversity of investment appraisal techniques used in practice, nor the range of decision-making styles used by real-world businesses. In filling these gaps, this paper brings together insights from capital investment theory with insights from behavioural economics to develop a behavioural economic model of investment appraisal, allowing for boundedly-rational investment decision-making. This model is applied in a macroeconomic analysis to show how the misapplication of investment appraisal criteria, especially under conditions of endemic uncertainty, is associated with sub-optimal levels of macroeconomic investment - with negative macroeconomic implications in terms of production, employment, productivity, wages and cyclical volatility. |
| Keywords: | investment; heuristics; bias; behavioural macroeconomics |
| JEL: | E29 E70 D22 D25 M21 |
| Date: | 2021–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:uts:ecowps:2021/05&r= |
| By: | Esra Nur Ugurlu (Department of Economics, University of Massachusetts Amherst) |
| Abstract: | This paper analyzes the structural change implications of consumer credit expansions in a dual-sector open economy growth model. Policy-induced increases in banks’ willingness and ability to lend result in new consumer lending, boosting consumption demand and average wages in the nontradable sector. Under the assumptions of fixed relative wages and mark-up pricing, wage pressures translate into inflationary pressures. The central bank, acting under the sole target of controlling inflation, raises the interest rate to contain inflationary pressures. This intervention causes a real exchange rate appreciation, followed by a loss of international competitiveness in the tradable sector. This way, the model illustrates that consumer credit expansions can trigger premature deindustrialization, shifting sectoral structure in favor of the nontradable sector. The formal model is inspired by the Turkish economy that experienced a notable expansion of consumer credit between 2002-2013. |
| Keywords: | Consumer credit, structural change, economic growth, inflation targeting, real exchange rate |
| JEL: | E58 F43 L16 O11 O41 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-14&r= |
| By: | Hobbie, Hannes; Mehlem, Jonas; Wolff, Christina; Weber, Lukas; Flachsbarth, Franziska; Möst, Dominik; Moser, Albert |
| Abstract: | Integrating increasing shares of weather-dependent renewable energies into energy systems while maintaining high levels of security of supply constitutes a challenge for network utilities. Obtaining the goal of large shares of renewable-based generation sources on electricity supply requires an effective operation of electricity grids and efficient coordination among grid operators. Therefore, detailed modelling of grid operation has increasingly become important in recent years. Methods for modelling the operation of (extra) high-voltage grids are undergoing persistent enhancements in academia and energy industries. Existing approaches vary in data granularity and computational methods. Moreover, assumptions on technical details in grid models vary. Differences in input data and modelling methods likely have an impact on simulation results. This paper aims to identify the most relevant differences present in grid simulation models and methods for studying congestion management in a European context. Differences are studied based on a comparison of grid simulation models from eight German energy modelling institutions. The effects of model parameterization and formulation on congestion management results are further investigated with three different case studies focusing on outage simulation, line-constraint relaxation and the modelling of cross-border measures applying selected grid simulation models. Results indicate that data parametrization can have large impacts on model results about congestion management volumes and geographic distribution of necessary measures. Model key parameters must be calibrated thoroughly. The findings of this research will assist future grid modelers and power system planners in efficiently simulating congestion management and increases the validity and explorative power of grid simulation models. |
| Keywords: | Transmission grid,Sustainable development,Renewable energies,Model comparison,Congestion management,Optimal power flow |
| JEL: | Q40 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:240928&r= |
| By: | Rahmadani, Suci; Putra, Yosep Eka |
| Abstract: | The purpose of this study is to determine how the ratio of liquidity and profitability at PT.Bank Perkreditan Lengayang. The research method used is qualitative and quantitative data analysis methods. Qualitative methods are methods that explain the data under study during the study. while the quantitative method is to analyze the development of a bank's financial statements. and the type of data used, namely secondary data obtained from reports of financial services authorities, as well as rural bank publication reports for 2016-2020. To measure the soundness level of a bank, two ratios are used, namely the liquidity ratio (in the form of CR, QR and LDR) and the ratio of profitability (in the form of ROA, ROE, BOPO and NPM). The results of this study indicate that the level of the bank's liquidity ratio is in a healthy position because the bank is able to pay back its short-term obligations. The company's profitability ratio from 2016-2020 shows a value that fluctuates every year, but is still in a healthy position. |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:7r9v3&r= |
| By: | Fabien Le Floc'h; Cornelis W. Oosterlee |
| Abstract: | This paper presents how to apply the stochastic collocation technique to assets that can not move below a boundary. It shows that the polynomial collocation towards a lognormal distribution does not work well. Then, the potentials issues of the related collocated local volatility model (CLV) are explored. Finally, a simple analytical expression for the Dupire local volatility derived from the option prices modelled by stochastic collocation is given. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02405&r= |
| By: | Congressional Budget Office |
| Abstract: | Each year, the Department of Defense (DoD) adjusts its regular military compensation to attract and retain high-quality personnel. That compensation includes basic pay, housing and food allowances, and the tax advantage that arises because those allowances are not subject to federal income tax. Unless the Congress passes legislation directing otherwise, the law requires DoD to use the employment cost index (ECI) to make annual adjustments to basic pay, the largest component of regular military compensation. The department uses other methods to adjust the housing and food allowances. |
| JEL: | C43 H56 J31 J33 J38 J45 M52 N32 N42 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:cbo:report:57192&r= |
| By: | Minot, Nicholas; Hossain, Shahadat; Kabir, Razin; Dorosh, Paul A.; Rashid, Shahidur |
| Abstract: | Price instability is a fact of life. In a market economy, domestic prices change in response to changes in supply, consumer preferences, policy, world prices, and other factors. Crop prices tend to be particularly volatile because harvests occur only once or a few times per year and because the size of the harvest varies due to weather, prices, and other factors. For internationally-traded commodities, volatility in world prices can be another source of instability in domestic prices. |
| Keywords: | BANGLADESH, SOUTH ASIA, ASIA, rice, prices, price stabilization, impact assessment, farms, consumer prices, policies, markets, grain, private sector |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprpp:11&r= |
| By: | Jhorland Ayala-García; Sandy Dall’Erba |
| Abstract: | Extreme rainfall events are expected to become more frequent and more intense in the future. Because their mitigation is a challenge and their cost to human life is large, this paper studies the impact of preemptive investment against natural disasters on the future occurrence of landslides and the losses associated with it. Based on a panel of 746 Colombian municipalities with medium and high risk of landslides and an instrumental variable approach, we find that preemptive public investment can reduce the number of landslides, the number of people who die, are injured, or disappear after a landslide, as well as the number of people affected. However, we do not find any effect on the number of houses destroyed. The results reveal that local governments focus their preventive measures on saving the lives and the physical integrity of their citizens, but they pay less attention to the direct market losses of natural disasters. These results are relevant in the presence of imperfect private insurance markets and increased informal settlements. **** RESUMEN: Se espera que los eventos de lluvias extremas sean más frecuentes e intensos en el futuro. Debido a que su mitigación es un desafío y su costo para la vida humana es alto, este documento estudia el impacto de la inversión en prevención contra desastres naturales en la ocurrencia futura de deslizamientos de tierra y las pérdidas asociadas a los mismos. Con base en un panel de 746 municipios colombianos con riesgo medio y alto de deslizamientos de tierra y un enfoque de variable instrumental, encontramos que la inversión pública en prevención puede reducir la frecuencia de los deslizamientos de tierra, la cantidad de personas que mueren, resultan heridas o desaparecen después de un deslizamiento de tierra, así como el número de personas afectadas. Sin embargo, no encontramos ningún efecto sobre el número de viviendas destruidas. Los resultados revelan que los gobiernos locales enfocan sus medidas preventivas en salvar la vida y la integridad física de sus ciudadanos, pero prestan menos atención a las pérdidas de activos como consecuencia de los desastres naturales. Estos resultados son relevantes en presencia de mercados de seguros privados imperfectos y un aumento de asentamientos informales. |
| Keywords: | Landslides, preemptive investment, disaster risk reduction, natural disasters, deslizamientos de tierra, inversión en prevención, reducción del riesgo de desastres naturales, desastres naturales |
| JEL: | H1 H4 H5 C26 D6 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bdr:region:301&r= |
| By: | Fauziah, Rahmatil; Afriyeni, Afriyeni |
| Abstract: | The purpose of this study was to determine the level of profitability by using the ratio of ROA (Return On Assets), ROE (Return On Equity), and NPM (Net Profit Margin) at PT. BPR Batang Kapas. The type of data used is secondary data, data is collected by going directly to the object of research to obtain financial statement data and other data needed during the 2015-2019 period. Based on the profitability analysis, it can be seen that ROA is in a healthy condition and ROE is also in a healthy condition, and NPM is also in a healthy condition in obtaining net profit. The results showed that the level of bank profitability is good and efficient in running the company's operations |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:u48ze&r= |
| By: | Mostafa Abdelrashied; Dikshita Bhattacharya |
| Abstract: | This paper provides an overview of the status of the electricity market in the region, indicating the nexus between electricity consumption with population growth and GDP. It also analyzes the policy portfolio in different countries, indicating some of the in-action policies' effectiveness and recommended alternatives. World Bank datasets were used for the analysis between 2000 and 2014. We found that the MENA region is at an early stage for renewable energy with a high potential for solar energy, making it attractive for investors. However, the high dependency on oil for consumption and exporting might not provide a prosperous environment for renewable technologies to grow. Therefore, a greater focus on decoupling economic growth from energy consumption will have a long-lasting impact on fiscal revenues for net-oil exporting countries. Moreover, the consequences of the decoupling will allow more renewables penetration in the current energy mix enabling many countries to reach their Paris Agreement goals. For short-term energy policy actions, starting a subsidy reform towards the final repeal of subsidies is a must as these measures relate to all end-use sectors and impact fiscal stability in many countries. With its 1.65GW Benban Solar Park in Aswan, Egypt has shown an example of shifting from subsidizing fossil fuel products to commissioning renewable projects to get closer to its Paris Agreement targets. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02129&r= |
| By: | Johan Hombert (HEC Paris - Ecole des Hautes Etudes Commerciales); Jérôme Pouyet (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université, ESSEC Business School - Essec Business School); Nicolas Schutz (Universität Mannheim [Mannheim]) |
| Abstract: | We develop a model of vertical merger waves and use it to study the optimal merger policy. As a merger wave can result in partial foreclosure, it can be optimal to ban a vertical merger that eliminates the last unintegrated upstream firm. Such a merger is more likely to worsen market performance when the number of downstream firms is large relative to the number of upstream firms, |
| Date: | 2020–02–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03330587&r= |
| By: | Laurent Daniel; Changhoon Lee; Judith Spieth |
| Abstract: | This report presents shipbuilding market developments of nine of the largest shipbuilding economies which are not members of the OECD Council Working Party on Shipbuilding (WP6). Over the last 20 years, the share of these economies in global ship deliveries has been increasingly driven by the rapid growth of Chinese ship completions and reached 43.7% of global completions in 2020. The report also provides an overview of support measures taken by selected WP6 non-members. Using public sources, over the period March 2020 to March 2021, these economies appeared to employ a total of 21 support measures, with the most frequently used measure being protection of the domestic market. Of these economies, the People’s Republic of China used the largest number of support measures, followed by the United States. |
| Keywords: | Industrial policy, Shipbuilding |
| Date: | 2021–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:oec:stiaac:119-en&r= |
| By: | Myers, Emily; Heckert, Jessica; Galiè, Alessandra; Njiru, Nelly; Alonso, Silvia |
| Abstract: | Studies on credit schemes for small-scale entrepreneurs have documented their potential to alleviate poverty and improve food security, nutrition, and health outcomes in low- and middle-income countries. Other studies find mixed impacts of credit schemes on reducing income inequality, empowering women, and enhancing children’s education. Moreover, growing evidence finds that entrepreneurs offer credit to customers; little is known about what this practice means for entrepreneurs, and even less about gendered differences in this practice. Herein, we consider the case of final retailers in agricultural value chains and examine how male and female informal milk vendors from peri-urban Nairobi borrow and sell on credit, and how these experiences affect their businesses where there are few formal safeguards to ensure repayment. In 2017, we conducted 49 individual interviews, four key informant interviews, and six focus groups with men and women who were current or former milk vendors. A thematic analysis revealed that vendors sell on credit to appeal to customers, which may be advantageous when vendors need to rid themselves of milk before it spoils, regardless of gender. With few strategies to recoup costs from customers who fail to repay, however, failure to collect debt may cause default for vendors who acquired milk via informal borrowing. The consequences are likely more severe for women vendors, who generally have less capital to fall back on relative to men. Development organizations should identify gender-sensitive financial services that can help entrepreneurs maintain viable businesses despite the volatility of borrowing and selling on credit. |
| Keywords: | KENYA; EAST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; milk production; enterprises; credit; microenterprises; gender; agricultural value chains; informal sector; qualitative analysis |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2039&r= |
| By: | Menta, Giorgia; Lepinteur, Anthony; Clark, Andrew E.; Ghislandi, Simone; D’Ambrosio, Conchita |
| Abstract: | We here address the causal relationship between maternal depression and child human capital using UK cohort data. We exploit the conditionally-exogenous variation in mothers’ genomes in an instrumental-variable approach, and describe the conditions under which mother’s genetic variants can be used as valid instruments. An additional episode of maternal depression between the child’s birth up to age nine reduces both their cognitive and non-cognitive skills by 20 to 45% of a SD throughout adolescence. Our results are robust to a battery of sensitivity tests addressing, among others, concerns about pleiotropy and the maternal transmission of genes to her child. |
| Keywords: | Mendelian Randomisation, Maternal Depression, Human Capital, Instrumental Variables, ALSPAC |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cpm:docweb:2107&r= |
| By: | Jain, Neha (Indian Institute of Foreign Trade); Goli, Srinivas |
| Abstract: | In this paper, we assess the economic benefits of demographic changes in India by employing econometric models and robustness checks based on panel data gathered over a period of more than three decades. Our analysis highlights four key points. First, the contribution of India’s demographic dividend is estimated to be around 1.9 percentage points out of 12% average annual growth rate in per capita income during 1981–2015. Second, India’s demographic window of opportunity began in 2005, significantly improved after 2011, and will continue till 2061. Third, our empirical analysis supports the argument that the realisation of the demographic dividend is conditional on a conducive policy environment with enabling aspects such as quality education, good healthcare, decent employment opportunities, good infrastructure, and gender empowerment. Fourth, the working-age population in India contributes around one-fourth of the inequality in per capita income across states. Thus, to reap the maximum dividends from the available demographic window of opportunity, India needs to work towards enhancing the quality of education and healthcare in addition to providing good infrastructure, gender empowerment, and decent employment opportunities for the growing working-age population. |
| Date: | 2021–09–04 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:sd7na&r= |
| By: | Simplice A. Asongu (Yaounde, Cameroon); Joseph Amankwah†Amoah (University of Kent, Kent, UK); Rexon T. Nting (London, UK); Godfred A. Afrifa (University of Kent, Kent, UK) |
| Abstract: | This study investigates how ICT affects gender economic inclusion via gender parity education channels. We examine the issue using data from 49 countries in sub–Saharan Africa for the period 2004–2018 divided into: (i) 42 countries for the period 2004–2014; and (ii) 49 countries for the period 2008-2018. Given the overwhelming evidence of negative net effects in the first sample, an extended analysis is used to establish thresholds of ICT penetration that nullify the established net negative effects. We found that in order to enhance female labor force participation, the following ICT thresholds are worthwhile for the secondary education channel: 165 mobile phone penetration per 100 people, 21.471 internet penetration per 100 people and 3.475 fixed broadband subscriptions per 100 people. For the same outcome of inducing a positive effect on female labor force participation, a 31.966 internet penetration per 100 people threshold, is required for the mechanism of tertiary school education. These computed thresholds have economic meaning and policy relevance because they are within the established ICT policy ranges. In the second sample, a mobile phone penetration threshold of 122.20 per 100 people is needed for the tertiary education channel to positively affect female labor force participation. |
| Keywords: | Africa; ICT; Gender; Inclusive development |
| JEL: | G20 I10 I32 O40 O55 |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:aak:wpaper:20/010&r= |
| By: | E. Nagy, Marianna; Varga, Anita |
| Abstract: | In this paper, we investigate a new primal-dual long-step interior point algorithm for linear optimization. Based on the step-size, interior point algorithms can be divided into two main groups, short-step and long-step methods. In practice, long-step variants perform better, but usually, a better theoretical complexity can be achieved for the short-step methods. One of the exceptions is the large-update algorithm of Ai and Zhang. The new wide neighbourhood and the main characteristics of the presented algorithm are based on their approach. In addition, we use the algebraic equivalent transformation technique by Darvay to determine the search directions of the method. |
| Keywords: | Mathematical programming; Linear optimization; Interior point algorithms; Algebraic equivalent transformation technique |
| JEL: | C61 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:cvh:coecwp:2021/06&r= |
| By: | Karim Barigou (ISFA - Institut de Science Financière et d'Assurances); Daniël Linders (UvA - University of Amsterdam [Amsterdam]); Fan Yang (University of Waterloo [Waterloo]) |
| Abstract: | We introduce the class of actuarial-consistent valuation methods for insurance liabilities which depend on both financial and actuarial risks, which imposes that all actuarial risks are priced via standard actuarial principles. We propose to extend standard actuarial principles by a new actuarialconsistent procedure, which we call "two-step actuarial valuations". In the coherent setting, we show that actuarial-consistent valuations are equivalent to two-step actuarial valuations. We also discuss the connection with "two-step market-consistent valuations" from Pelsser and Stadje (2014). In particular, we discuss how the dependence structure between actuarial and financial risks impacts both actuarial-consistent and market-consistent valuations. |
| Keywords: | Fair valuation,two-step valuation,actuarial consistent,market consistent,Solvency II,incomplete market |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03327710&r= |
| By: | Jun Yoshida; Shinsuke Uchida; Katsuhito Nohara; Akira Hibiki |
| Abstract: | Recently, natural disasters and extreme weather events have been occurring more frequently. This study examines how large floods affect the value of manufacturing product shipments and the number of facilities in the long run using municipality-level data in Japan. We considered the impacts of flooding depending on the size of the facilities and past flood experiences (leading to flood preparedness in advance). We found "build back better" dynamics, in which the value of manufacturing product shipments grew in cities affected by floods. We also found that large facilities increased, while small and mid-sized facilities decreased following floods. These results suggest two important mechanisms characterizing the damage and recovery processes of floods. First, large facilities were more resilient to flooding, while small and mid-sized facilities were more vulnerable to flooding. Economies of scale resulting from small facilities exit, and an increase in large facilities may increase the number of shipments of manufactured goods per facility. Experience with past floods did not affect the activities of large facilities. In frequently flooded cities, the activity levels of small and mid-sized facilities recovered to predisaster trends. In rarely flooded cities, a long-term decline was observed in the business activities of small and mid-sized facilities because they likely needed to revise their supply chains due to unexpected events. In addition, unexpected flooding had devastating effects on employment. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:toh:tupdaa:7&r= |
| By: | Mohammadreza Mahmoudi |
| Abstract: | This paper aims to present empirical analysis of Iranian economic growth from 1950 to 2018 using data from the World Bank, Madison Data Bank, Statistical Center of Iran, and Central Bank of Iran. The results show that Gross Domestic Product (GDP) per capital increased by 2 percent annually during this time, however this indicator has had a huge fluctuation over time. In addition, the economic growth of Iran and oil revenue have close relationship with each other. In fact, whenever oil crises happen, great fluctuation in growth rate and other indicators happened subsequently. Even though the shares of other sectors like industry and services in GDP have increased over time, the oil sector still plays a key role in the economic growth of Iran. Moreover, growth accounting analysis shows contribution of capital plays a significant role in economic growth of Iran. Furthermore, based on growth accounting framework the steady state of effective capital is 4.27 for Iran's economy. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02787&r= |
| By: | Céline Baud; Cédric Durand (UNIGE - Université de Genève, Faculté des sciences de la société, Département d'histoire, économie et société, CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This contribution documents the contrasting fate of three key actors of the retail industry since the mid-nineties: Carrefour, Wal-Mart and Amazon. Stylized facts about their respective financial trajectories and a description of their engagement with digitalization allow to identify their distinct dynamics. Through a combination of accounting, business and economic analyses, this paper clarifies the underlying logics of profit making in the context of retail digitalization and provides new insights concerning the role of fixed costs leveraging in the digital age. |
| Keywords: | Retailing,digitalization,financialization,profits,accounting JEL codes: L81,L22,M41,D22,G32 |
| Date: | 2021–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03332318&r= |
| By: | Chiara Casoli (Fondazione Eni Enrico Mattei); Riccardo (Jack) Lucchetti (Università Politecnica delle Marche) |
| Abstract: | In this article, we propose a cointegration-based Permanent-Transitory decomposition for non-stationary Dynamic Factor Models. Our methodology exploits the cointegration relations among the observable variables and assumes they are driven by a common and an idiosyncratic component. The common component is further split into a long-term non-stationary part and a short-term stationary one. A Monte Carlo experiment shows that taking into account the cointegration structure in the DFM leads to a much better reconstruction of the space spanned by the factors, with respect to the most standard technique of applying a factor model in differenced systems. Finally, an application of our procedure to a set of different commodity prices allows to analyse the comovement among di erent markets. We find that commodity prices move together due to long-term common forces and that the trend for most primary good prices is declining, whereas metals and energy ones exhibit an upward or at least stable pattern since the 2000s. |
| Keywords: | Cointegration, Dynamic Factor Models, P-T decomposition, Commodity prices co-movement |
| JEL: | C32 C38 Q02 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2021.19&r= |
| By: | José Romero (El Colegio de México) |
| Abstract: | Este trabajo se propone ofrecer una síntesis de la teoría de la evolución económica para los lectores de habla hispana. Se comienza con el concepto de habilidades y organización tal como se presenta en el trabajo de Nelson y Winter (1982), complementado con actualizaciones sobre la perspectiva de la organización en movimiento basadas en el trabajo de Helfat (2018) y de los sistemas de innovación que son explicados por Pyka, Saviotti y Nelson (2018). Con esto, esta concepción integral de la teoría evolutiva no ofrece solamente una visión alternativa del concepto de empresa y de cómo éstas compiten entre sí, sino que también conforma un análisis que involucra activamente a las instituciones en el proceso evolutivo, con lo que se logra tener una visión integral de la relación entre la teoría evolutiva, el cambio tecnológico y el crecimiento económico. |
| Keywords: | teoría evolutiva |
| JEL: | B15 B25 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:emx:ceedoc:2021-03&r= |
| By: | Alice Zawacki; Scott Ohlmacher; Struther Van Horn |
| Abstract: | Nationally representative U.S. hospital data does not exist on management practices, which have been shown to be related to both clinical and financial performance using past data collected in the World Management Survey (WMS). This paper describes the U.S. Census Bureau’s development of content for the Management and Organizational Practices Survey Hospitals (MOPS-HP) that is similar to data collected in the MOPS conducted for the manufacturing sector in 2010 and 2015 and the 2009 WMS. Findings from cognitive testing interviews with 18 chief nursing officers and 13 chief financial officers at 30 different hospitals across 7 states and the District of Columbia led to using industry-tested terminology, to confirming chief nursing officers as MOPS-HP respondents and their ability to provide recall data, and to eliminating questions that tested poorly. Hospital data collected in the MOPS-HP would be the first nationally representative data on management practices with queries on clinical key performance indicators, financial and hospital-wide patient care goals, addressing patient care problems, clinical team interactions and staffing, standardized clinical protocols, and incentives for medical record documentation. The MOPS-HP’s purpose is not to collect COVID-19 pandemic information; however, data measuring hospital management practices prior to and during the COVID-19 pandemic are a byproduct of the survey’s one-year recall period (2019 and 2020). |
| Keywords: | Hospitals, Management Practices, Chief Nursing Officers, Staffing and Teams, Incentives, Protocols |
| JEL: | C81 I10 M5 M10 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:21-25&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | Limitations of Micro Small Medium Enterprises (MSMEs, or UMKM) in carrying out taxation obligations make UMKM often disobedient in carrying out their obligations. Non-compliance of taxpayers UMKM can harm them with the emergence of problems in the field of taxation on the business they live. To be able to overcome these problems the government has provided tax forgiveness facilities that can be utilized by UMKM. This study aims to evaluate the policy of Law Number 11 of 2016 concerning Tax Remission, of Small and Medium Enterprises Taxpayer at Tax Office Pratama East Medan. The method used in this research is a mixed research method that combines both qualitative and quantitative methods. The main informant in this research is the UMKM taxpayer and the key informant is the tax officer. The population of this study is the UMKM taxpayer who is in the working area of KPP Pratama Medan Timur with the number of more than 100 people. The sample used Taro Yamane formula with sample number of 97 people who become respondents. The results showed that the implementation of tax pardon on the UMKM taxpayer has run quite well. |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:bneqj&r= |
| By: | Njuki, Jemimah; Eissler, Sarah; Malapit, Hazel J.; Meinzen-Dick, Ruth Suseela; Bryan, Elizabeth; Quisumbing, Agnes R. |
| Abstract: | Achieving gender equality and women’s empowerment in food systems can result in greater food security and better nutrition, and in more just, resilient, and sustainable food systems for all. This paper uses a scoping review to assess the current evidence on pathways between gender equality, women’s empowerment, and food systems. The paper uses an adaptation of the food systems framework to organize the evidence and identify where evidence is strong, and where gaps remain. Results show strong evidence on women’s differing access to resources, shaped and reinforced by contextual social gender norms, and on links between women’s empowerment and maternal education and important outcomes, such as nutrition and dietary diversity. However, evidence is limited on issues such as gender considerations in food systems for women in urban areas and in aquaculture value chains, best practices and effective pathways for engaging men in the process of women’s empowerment in food systems, and for addressing issues related to migration, crises, and indigenous food systems. And while there are gender informed evaluation studies that examine the effectiveness of gender- and nutrition- sensitive agricultural programs, evidence to indicate the long-term sustainability of such impacts remains limited. The paper recommends keys areas for investment: improving women’s leadership and decision-making in food systems, promoting equal and positive gender norms, improving access to resources, and building cross-contextual research evidence on gender and food systems. |
| Keywords: | WORLD; women; gender; food systems; gender equality; Goal 5 Gender equality; Sustainable Development Goals; women's empowerment; value chains; consumer behaviour; policies; governance |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2034&r= |
| By: | Matías Lamas (Banco de España); David Martínez-Miera (UC3M and CEPR) |
| Abstract: | We analyze the evolution and price implications of aggregate sectorial holdings of stocks, using detailed information on the universe of publicly traded stocks in the euro area. We document that: i) households’ (HH) direct holdings represent a higher fraction of total ownership in domestic bank stocks than in non-financial corporation (NFC) stocks; ii) HH holdings of stocks increase (decrease) following a decline (increase) in the stock price, especially for domestic bank stocks; and iii) an increase in domestic HH holdings is followed by future (persistent) increases in the price of NFC stocks, but not for bank stocks. Moreover, during equity issuances, an increase in the share of domestic HH holdings is followed by a future (persistent) decrease in the stock price of bank stocks, but not for NFC stocks. Our results are consistent with HH being liquidity providers in the stock market, and at the same time subject to negative information asymmetries. We argue that this latter effect is more prevalent in domestic bank stocks than in NFC given the close relationships between HH and banks. |
| Keywords: | household ownership, stock prices, equity issuance, banks, non-financial corporations, liquidity provision, informational asymmetries |
| JEL: | G11 G14 G21 G50 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2130&r= |
| By: | Tiwari, Chhavi; Goli, Srinivas; Rammohan, Anu |
| Abstract: | We use nationally representative data from two waves of the Indian Human Development Survey to provide causal evidence on the role of inter-temporal changes in fertility behaviour in influencing female labor market outcomes. Our multivariate regression estimates show that an increase in the number of children reduces labor force participation and earnings. We further investigated the impact of fertility changes on transitions from the labor market. The results show that women who had more than three children in both rounds of the survey had a 3.5 percentage points higher probability of exiting from the labor market. Disaggregated analyses by caste, economic status and region show regional heterogeneity, and the probability of dropping-out of the labor market due to fertility changes is greater for non-poor women and those from socially disadvantaged castes. |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:nhjvm&r= |
| By: | Emilio Leguízamo Londoño |
| Abstract: | En Colombia el conflicto armado generó múltiples tensiones políticas que llevaron a que los ciudadanos de las regiones más golpeadas por el conflicto participaran menos en las elecciones. El Acuerdo de paz con las FARC, firmado en 2016, ha generado cambios que podrían fomentar la participación política en estas regiones, pero que también pueden generar nuevos conflictos. Este trabajo empírico, parte de la metodología de diferencias en diferencias con emparejamiento, para explicar los cambios en la participación política de las regiones en las que las FARC tuvo presencia violenta en sus últimos años de lucha armada (2010-2014). Los resultados encontrados indican que la participación electoral de estas regiones aumentó relativamente durante las negociaciones y el resultado se acentúa en los municipios que han apoyado menos la estratega militar para acabar con el conflicto. Para los años de post Acuerdo, el efecto no se mantiene por completo y es sensible a los programas de intervención municipal derivados de las negociaciones y a las nuevas dinámicas de violencia. |
| Keywords: | Proceso de paz; Colombia; Elecciones; Participación política |
| JEL: | D74 D72 Y P16 |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019556&r= |
| By: | Oriane Lafuente-Sampietro (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Convertible local currencies are alternative monetary instruments issued by groups of citizens to circulate in a given territory. They are used by businesses and citizens who accept it as means of payments constituting, hence, a monetary community. Their impacts on economic activity are mainly related to their circulation within the user community. Businesses that have received local currency as payment must spend it with other members. A local currency, thus, acts as a constraint favoring the development of new commercial relations in the network and increasing the demand among local businesses involved in the scheme. In this article, we model the income circulation between convertible currencies users as a local multiplier, called the convertible local currency multiplier. By using the Local Multiplier 3 empirical approach (Sacks, 2002) on two convertible currencies transactions data, we compute an indicator summarizing the income generated for the monetary community by the change and expense of euros into a local currency. This new indicator enables not only consumers to estimate the impact of their actual consumption in local currency, but also potential public decision-makers to know the total effect of their expenses when they use local currency on their territory to finance some of their policies. For example, this indicator could be used to measure the direct and indirect effects of a subsidy paid in local currency to institutions, businesses or households. The computed multiplier is greater than two for both currencies, which is in the higher range of LM3 estimated in the literature. |
| Keywords: | Local multiplier,Local currency,Multiplier economics,Multiplicateur local,Monnaie locale alternative,Monnaie locale complémentaire |
| Date: | 2021–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03324625&r= |
| By: | Rimmer, Matthew (Queensland University of Technology) |
| Abstract: | This paper explores intellectual property and access to essential medicines in the context of the coronavirus COVID-19 public health crisis. It considers policy solutions to counteract vaccine nationalism and profiteering by pharmaceutical companies and vaccine developers. This paper considers the campaign for the development of a People's Vaccine led by the People’s Vaccine Alliance, UNAIDS, Oxfam and Public Citizen. The WHO has established the ACT Accelerator in order to boost research, development, and deployment of COVID-19 technologies. However, the operation of COVAX thus far has been falling short of its original ambitions. The Medicines Patent Pool has expanded its jurisdiction to include the sharing of intellectual property related to COVID-19. Meanwhile, Costa Rica has proposed a COVID-19 Technology Access Pool – an idea for a new institutional structure which has been taken up by the WHO. In the context of the coronavirus public health crisis, there has also been discussion of the use of compulsory licensing and crown use to counteract profiteering and anti-competitive behavior. There has been a push by Universities Allied for Essential Medicines (UAEM) and others for the public licensing of COVID-19 technologies developed with government funding. The Open COVID Pledge has been taken by a number of intellectual property owners. In response to the assertion of proprietary rights in respect of COVID-19 technologies, the open movement has championed the development of Open Science models of science. India and South Africa have put forward a waiver proposal in the TRIPS Council to enable countries to take action in respect of COVID-19 without fear of retribution under trade laws. While the United States has been willing to support a TRIPS Waiver for vaccines, there remain a number of opponents to a TRIPS Waiver – including the European Union, Germany, Japan, and Switzerland. This paper makes the case that international intellectual property law should accommodate a People's Vaccine. |
| Date: | 2020–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:sfmnu&r= |
| By: | Adam Jonsson |
| Abstract: | The locations problem in infinite ethics concerns the relative moral status of different categories of potential bearers of value, the primary examples of which are people and points in time. The challenge is to determine which category of value bearers are of ultimate moral significance: the ultimate locations, for short. This paper defends the view that the ultimate locations are 'people at times'. A person at a time is not a specific person, but the person born at a specific point in time (de dicto). The main conclusion of the paper is that the unsettling implications of the time- and person-centered approaches to infinite ethics can be avoided by taking people at times as the ultimate locations. Most notably, a broad class of worlds that are incomparable using the person-centered approach can be strictly ranked. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.01852&r= |
| By: | Nguyen, Minh-Hoang |
| Abstract: | In academic publishing, a retraction is the action by which a published paper in an academic journal is removed from the journal. Online journals typically remove the retracted article from online access. ***** For archiving purpose only ***** |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:n92wm&r= |
| By: | Andr\'es Ram\'irez-Hassan; Alejandro L\'opez-Vera |
| Abstract: | We provide a novel inferential framework to estimate the exact affine Stone index (EASI) model, and analyze welfare implications due to price changes caused by taxes. Our inferential framework is based on a non-parametric specification of the stochastic errors in the EASI incomplete demand system using Dirichlet processes. Our proposal enables to identify consumer clusters due to unobserved preference heterogeneity taking into account, censoring, simultaneous endogeneity and non-linearities. We perform an application based on a tax on electricity consumption in the Colombian economy. Our results suggest that there are four clusters due to unobserved preference heterogeneity; although 95% of our sample belongs to one cluster. This suggests that observable variables describe preferences in a good way under the EASI model in our application. We find that utilities seem to be inelastic normal goods with non-linear Engel curves. Joint predictive distributions indicate that electricity tax generates substitution effects between electricity and other non-utility goods. These distributions as well as Slutsky matrices suggest good model assessment. We find that there is a 95% probability that the equivalent variation as percentage of income of the representative household is between 0.60% to 1.49% given an approximately 1% electricity tariff increase. However, there are heterogeneous effects with higher socioeconomic strata facing more welfare losses on average. This highlights the potential remarkable welfare implications due taxation on inelastic services. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07646&r= |
| By: | Tretyakov, Dmitriy; Fokin, Nikita |
| Abstract: | Due to the fact that at the end of 2014 the Central Bank made the transition to a new monetary policy regime for Russia - the inflation targeting regime, the problem of forecasting inflation rates became more relevant than ever. In the new monetary policy regime, it is important for the Bank of Russia to estimate the future inflation rate as quickly as possible in order to take measures to return inflation to the target level. In addition, for effective monetary policy, the households must trust the actions of monetary authorities and they must be aware of the future dynamics of inflation. Thus, to manage inflationary expectations of economic agents, the Central Bank should actively use the information channel, publish accurate forecasts of consumer price growth. The aim of this work is to build a model for nowcasting, as well as short-term forecasting of the rate of Russian inflation using high-frequency data. Using this type of data in models for forecasting is very promising, since this approach allows to use more information about the dynamics of macroeconomic indicators. The paper shows that using MIDAS model with weekly frequency series (RUB/USD exchange rate, the interbank rate MIACR, oil prices) has more accurate forecast of monthly inflation compared to several basic models, which only use low-frequency data. |
| Keywords: | инфляция; наукастинг; прогнозирование; высокочастотные данные; MIDAS модель |
| JEL: | E31 E37 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109556&r= |
| By: | Mikhail Miklyaev (Department of Economics Queens University, Canada and Cambridge Resources International Inc.); Richard Barichello (Food and Resource Economics, University of British Columbia); Katarzyna Pankowska (Independent Consultant) |
| Abstract: | Maize and wheat are the most important staple crops grown and consumed domestically in Ethiopia. With Ethiopia being the third-largest producer of maize in Africa, maize yields are relatively high compared with those of other East African producers but low compared to those other major maize producers in Africa and Asia. Domestically produced wheat is generally grown on smallholder farms, with majority being reserved for on-farm use. The biggest current challenge in terms of improved maize and wheat seeds in Ethiopia is the scaling-up of production and discrimination of high yielding hybrid maize verities and rust-resistant wheat varieties. Other major challenges to increasing the quantity of maize and wheat marketed in Ethiopia is losses due to poor post-harvest management and storage conditions. Using the cost-benefit approach of the integrated investment appraisal, this project aims to increase the availability of improved maize varieties, particularly of high-yield hybrids; improved storage facilities for cooperatives and unions to reduce postharvest losses; professionalization training, capacity building, and business-plan development for cooperatives and Farmers’ Cooperative Unions. This is done by integrating the financial, economic, stakeholder, and risk outcomes of the Ethiopian cereal value chain. |
| Keywords: | agriculture, production, improved seeds, maize value chain |
| JEL: | D61 Q2 Q13 |
| Date: | 2021–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:4580&r= |
| By: | Christine L. Borgman; Philip E. Bourne |
| Abstract: | Implementation plans for the National Institutes of Health policy for data management and sharing, which takes effect in 2023, provide an opportunity to reflect on the stakeholders, infrastructures, practice, economics, and sustainability of data sharing. Responsibility for fulfilling data sharing requirements tends to fall on principal investigators, whereas it takes a village of stakeholders to construct, manage, and sustain the necessary knowledge infrastructure for disseminating data products. Individual scientists have mixed incentives, and many disincentives to share data, all of which vary by research domain, methods, resources, and other factors. Motivations and investments for data sharing also vary widely among academic institutional stakeholders such as university leadership, research computing, libraries, and individual schools and departments. Stakeholder concerns are interdependent along many dimensions, seven of which are explored: what data to share; context and credit; discovery; methods and training; intellectual property; data science programs; and international tensions. Data sharing is not a simple matter of individual practice, but one of infrastructure, institutions, and economics. Governments, funding agencies, and international science organizations all will need to invest in commons approaches for data sharing to develop into a sustainable international ecosystem. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.01694&r= |
| By: | Sabrine Acosta Schnell (CREDA - CREDA - Centre de Recherche Et de Documentation sur les Amériques - UMR 7227 - Université Sorbonne Nouvelle - Paris 3 - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Las miniciudades en Centroamérica son proyectos de uso mixto que combinan espacios residenciales, comerciales y de entretenimiento. Se toman como base dos casos de estudio (Avenida Escazú, en Costa Rica y Ciudad Cayalá, en Guatemala) y se ofrecen propuestas de aproximación teórico-metodológica multidisciplinaria que se podrán utilizar en investigaciones sobre miniciudades. La hibridación de formas urbanas y de funciones contribuye a una complejidad espacial, la cual se sugiere que demanda un análisis que va más allá del clásico concepto dualista de espacialidad. Se abre la discusión a partir de cinco propuestas conceptuales para llevar a cabo el ejercicio de abrir la mente geográfica creativa y tratar sobre nuevos temas y retos urbanos, según las recomendaciones de Soja (2000). Se aborda una selección de autores y métodos, no siempre de la misma línea investigativa, para sugerir las herramientas que permitan analizar las dinámicas espaciales y la convergencia de diversos espacios como el real, el percibido, el concebido, el imaginado, el vivido o el Tercer Espacio de Soja (1996), entre otras propuestas. Se incluye un breve análisis heterotopológico foucaultiano, sin dejar de lado la triple dialéctica de Lefebvre (1974) y otras contribuciones artísticas y literarias. Finalmente, se reflexiona respecto a que el actual proceso de urbanización requiere de nuevos discursos para conceptualizar, en la teoría y en la práctica, las realidades urbanas recientes. El artículo no pretende cerrar la discusión ni concluir de forma restrictiva elanálisis espacial, sino que más bien busca provocar la reflexión y la formulación de más preguntas e incógnitas para resaltar la dificultad y necesidad de actualizar y ampliar las herramientas para el análisis de las nuevas dinámicas urbanas. |
| Date: | 2020–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03330456&r= |
| By: | Peter Andre |
| Abstract: | Meritocracies aspire to reward effort and hard work but promise not to judge individuals by the circumstances they were born into. The choice to work hard is, however, often shaped by circumstances. This study investigates whether people’s merit judgments are sensitive to this endogeneity of choice. In a series of incentivized experiments with a large, representative US sample, study participants judge how much money two workers deserve for the effort they exerted. In the treatment condition, unequal circumstances strongly discourage one of the workers from working hard. Nonetheless, I find that individuals hold the disadvantaged worker fully responsible for his choice. They do so, even though they understand that choices are strongly influenced by circumstances. Additional experiments identify the cause of this neglect. In light of an uncertain counterfactual state – what would have happened on a level playing field – participants base their merit judgments on the only reliable evidence they possess - observed effort levels. I confirm these patterns in a structural model of merit views and a vignette study with real-world scenarios. |
| Keywords: | Meritocracy, attitudes toward inequality, redistribution, fairness, responsibility, social preferences, inference, uncertain counterfactual |
| JEL: | C91 D63 D91 H23 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2021_318&r= |
| By: | YASUI Kengo; SANO Shinpei; KUME Koichi; TSURU Kotaro |
| Abstract: | This paper empirically examines the short- and long-term causal effects of club activities at junior high schools on students' cognitive and non-cognitive skills and their educational, labor market, and health outcomes. We aim to address the endogeneity problem of students' participation in club activities by exploring instrumental variables (IVs). As IVs, we use a school-specific policy on whether students were required to be just a member of, or actively engage in, school clubs at the public junior high schools that they attended. First, using OLS estimation, we find that 17 out of 21 skills/outcomes are significantly correlated with their participation in school club activities. However, when we instrument students' participation in school club activities, most of those skills/outcomes turn insignificant. In contrast, some significant effects are found. In the short term, school club activities improve students' academic achievement in ninth grade and reduce tardiness and absence in high school. In the long term, while school club activities significantly increase the degree of agreeableness , they decrease the extroversion and lower wages. The results of adverse long-term effects suggest that when schools intervene in students' rational choice to take no part in club activities, their involuntary participation could result in lowering their non-cognitive skill and their long-term outcomes. It can be interpreted as an inefficient allocation of resources for individual students and further undesirable results on teachers, schools and governments who should bear the cost of the club activities. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:21046&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This study used a qualitative approach with descriptive form that menyajikat picture of good governance phenomena that occur at the level of districts in the province of North Sumatra. This research was conducted in 2016, located in Pematangsiantar specifically phenomenon observation area of research carried out in several districts scattered in Pematangsiantar.Results of research descriptively explained that the application of the values of good governance in the sub-districts scattered in Pematangsiantar is good enough. Nevertheless strategic efforts aimed at improving the implementation of the spirit of the values of good governance will be developed as sustainable as needed empowerment and service to the community.There are several factors that significantly affect the successful implementation of the values of good governance throughout the District Government in Pematangsiantar which includes aspects of delegation of authority fully to implementing the wheels of government as to regions remote / rural areas, improvement of infrastructure especially in districts away from the district capital, and no less importantly include improved aspects of community development |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:ax3pb&r= |
| By: | Federico Bassi; Andrea Boitani (Università Cattolica del Sacro Cuore; Dipartimento di Economia e Finanza, Università Cattolica del Sacro Cuore) |
| Abstract: | A BMW model is augmented with a credit market affected by banks’ balance sheet and used to assess the dynamic performance of an economy in the face of demand and financial shocks under different assumptions about the interactions between monetary and macroprudential policy. We show that the regulatory bank’s capital requirement has a multiplier effect that interferes with monetary policy, thus influencing the credit market and the output gap, and this multiplier effect varies according to the institutional arrangements in which macroprudential and monetary policies are embedded. In particular, we find that cooperation between monetary policy and macroprudential policy delivers the best overall stabilization outcomes in the face of both negative demand and bank equity shocks, if such shocks are not highly persistent. As shock persistence increases, non-cooperation or a simple leaning against the wind monetary policy outperform cooperation. However, adding countercyclical capital buffers in the macroprudential toolkit reinstates the original ranking of institutional arrangements with cooperation dominating overall. |
| Keywords: | Financial Frictions, Monetary Policy, Macroprudential Policy, Policy Coordination. |
| JEL: | E44 E52 E58 E61 G21 G28 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:ctc:serie1:def110&r= |
| By: | Martinet, LIson; Sueur, Cédric; Beltzung, Benjamin; Pelé, Marie |
| Abstract: | We need specific and objective methods to analyse the temporal changes of drawing in children, especially those too young to communicate via verbalisations. We asked 134 children, ranging from three to ten years old, and 38 adults to draw on a tablet under two conditions: free drawing and self-portrait. We then used seven metrics from three categories (spatial, temporal, and colorimetric) in a principal component analysis (PCA). Three dimensions of the PCA explained 77% of the variance in the drawings. We named these dimensions as diversity, sequentiality, and efficiency, which provided a mechanism for better understanding the intentionality and representativeness behind drawing. Gender had no effect, but age influenced all three dimensions differently. This multi-metric approach is a powerful tool for investigating the ontogenetic development of drawing, and could be used to understand the evolution of this behaviour by applying it to the study of primates, or to reveal drawing characteristics in people with autism and depression or those from different cultures. |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:aybz6&r= |
| By: | Luis Guirola (Banco de España) |
| Abstract: | Polarization can have economic effects if the hostility between political camps (i.e., affective polarization) shapes economic expectations. This paper shows that, in polarized contexts, agents disagree more over their expectations, and that partisan hostility – rather than differences in individual economic circumstances or beliefs about government policies – drives this disagreement. The causal impact of partisanship is identied from the discontinuity created by shifts in Prime Ministers’ cabinet. The study of 134 shifts between 1993 and 2019 in 27 European countries reveals that left and right supporters with identical circumstances and information sets update their expectations in opposite directions, evidencing a partisan bias. Its size ranges from 1.5 to 0 standard deviations across these cabinet shifts. The polarization of parties – measured by their left-right positions or their cooperation within coalitions – explains half this variation, and adverse economic conditions amplify it. The analysis points to affective polarization (rather than disagreements over the likely effects of government policy) as the driver of partisan bias. Partisan bias extends to variables unaffected by future policy and, even when parties have similar economic positions, bias increases withpolarization on non-economic dimensions. Overall, these findings suggest that political conflicts originally unrelated to economic matters could affect household behavior and policy debates and extend to the economic sphere. |
| Keywords: | expectations, polarization, political partisanship, motivated beliefs |
| JEL: | D14 D84 E71 F34 G01 H12 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2133&r= |
| By: | Pierri, Damian Rene |
| Abstract: | This paper deals with infinite horizon non-optimal economies with aggregate uncertainty and a finite number of heterogeneous agents. It derives sufficient conditions for the existence of a recursive structure,an ergodic, a stationary, and a non-stationary equilibria. It also gives an answer to the following question: is it possible to derive a general framework which guarantees that numerical simulations truly reflect the behavior of endogenous variables in the model? We provide sufficient conditions to give an affirmative answer to this question for endowment economies with incomplete markets and uncountable exogenous shocks. These conditions guarantee the ergodicity of the process and hold for a particular selection mechanism. For economies with finitely many shocks or for an arbitrary selection in economies with uncountable shocks, it is only possible to show that a computable, time independent and recursive representation generates a stationary Markov process. The results in this paper suggest that often a well defined stochastic steady state in heterogenous agent models is sensitive to the initial conditions of the economy; a fact which imply that heterogeneity may have irreversible long-lasting effects. |
| Keywords: | Non-Optimal Economies; Markov Equilibrium; Heterogeneous Agents; Simulations |
| JEL: | C63 C68 D52 D58 |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:cte:werepe:33246&r= |
| By: | David K Levine; Andrea Mattozzi; Salvatore Modica |
| Date: | 2021–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:cla:levarc:11694000000000059&r= |
| By: | Asante, Seth; Andam, Kwaw S.; Simons, Andrew M.; Amprofi, Felicia Ansah; Osei-Assibey, Ernest; Iddrisu, Adisatu; Blohowiak, Samuel |
| Abstract: | This paper provides a description of the agricultural input market in Ghana in 2019 across six districts with high maize production and two municipal districts noted for agricultural marketing activities. Since 2017, Ghana’s agricultural policy has been heavily focused on implementation of the Planting for Food and Jobs (PFJ) program, which has rapidly scaled up the distribution of subsidized seed and fertilizer with the aim of increasing agricultural productivity and production. Agricultural input dealers play a crucial role in the PFJ program as the final node in the supply chain of seed and fertilizer for farmers. Their operations are expected to enhance the availability of and access to these agricultural inputs. Understanding the characteristics and operations of agricultural input dealers can help policymakers to formulate, implement, and reform seed and fertilizer policies. Our study shows low levels of specialization among agricultural input shops, high participation in the sector association, an increase in the entry of traders into the agricultural input market since the launch of PFJ, and a continuing concentration on fertilizer sales compared to seed sales. Major constraints that agricultural input supplier face in expanding their businesses include difficulties in obtaining financial support from the banking sector, still unreliable supplies, and, for subsidized inputs, the slow processing by government of the subsidy vouchers farmers gave them in exchange for inputs. |
| Keywords: | GHANA; WEST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; agriculture; farm inputs; markets; assessment; programmes; inputs |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:gsspwp:58&r= |
| By: | Hariharan, Naveen Kunnathuvalappil |
| Abstract: | Many enterprises have achieved a novel, quick, and low-cost technology to address the concerns of data storage and availability for customers, which is referred to as Cloud Computing. More and more financial service companies and organizations have shifted their offline services to cloud platforms to provide customers with more convenient and accurate services. Working with a cloud services provider offers a wide variety of benefits for banks and financial institutions. This includes greater flexibility and scalability, lower costs, and improved organizational efficiency. However, at the moment, they pose a certain level of data security risk to financial organizations. For financial institutions, keeping data secure is of the utmost importance. Financial information is extremely sensitive, making it valuable and especially vulnerable. The cloud service providers are making significant efforts to develop the cloud industry in order to maintain optimal security. After discussing cloud computing in the financial sector, this research outlined six major security concerns that financial institutions face in cloud computing. They are Information security Business securitySystem Security Host Security Data Security Network Security. We also discussed the major strategies by cloud computing providers to tackle these issues.Once the security challenges can be resolved properly, cloud computing will be further promoted in the finance sector. Financial institutions may leverage cloud computing in the future to develop novel business models and provide customers with an entirely new experience with financial services. |
| Date: | 2021–01–09 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:6jens&r= |
| By: | PEMBANGUNAN, GOVERNANCE: JURNAL POLITIK LOKAL DAN |
| Abstract: | This research is performed using census research method. In this research , the population is all employees of 32 people in the Regional Inspectorate of Padangsidimpuan. The data analysis technique used is descriptive and quantitative analysis. The results show that employees in the Office of the Regional Inspectorate of Padangsidimpuan have direct monitoring by a category quite good. It can also be seen from the quality, quantity, use of worktime and employee cooperationFrom the research that has been conducted at the Regional Inspectorate of Padangsidimpuan, there is a positive relationship between direct monitoring with the employee 's performance. The results of single regression analysis also shows a positive influence of the variable direct monitoring to the employee performance . If an increase in direct monitoring, the employee 's performance will increase as well. It can be concluded that the direct monitoring contributes to employee performance variables in the Regional Inspectorate Padangsidimpuan of 99.36 %. |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:cfxg6&r= |
| By: | José Santiago Gómez Medina |
| Abstract: | El objetivo de este estudio es determinar el impacto de la banda ancha en Colombia a nivel municipal sobre el valor agregado en municipios. A partir de información de penetración de banda ancha fija, y de usuarios de telefonía móvil con cobertura de internet móvil 4G en 1.101 municipios para el periodo 2012-2018, se estiman los efectos sobre el valor agregado per cápita abordando la endogeneidad a través del estimador del método generalizado de momentos (GMM) de Arellano-Bover y Blundell-Bond y estimando un modelo de efectos fijos por el enfoque de variable instrumental. Bajo las diferentes metodologías se encuentran efectos positivos de la penetración de la banda ancha fija y móvil. Para la estimación de variables instrumentales se encuentra que un aumento en la penetración de la banda ancha fija sobre hogares de 10 puntos porcentuales tiene un efecto positivo y significativo de 1.6% en el valor agregado per cápita, mientras que este mismo incremento en la penetración para la banda ancha móvil tiene un efecto de 0.8%. Además, se encuentran retornos decrecientes de la banda ancha fija sobre el nivel de ingreso de los municipios, mientras que en la banda ancha móvil no se observan diferencias por nivel de ingreso. |
| Keywords: | banda ancha, crecimiento económico, Colombia, panel dinámico, variableinstrumental |
| JEL: | L96 O33 O47 |
| Date: | 2021–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019559&r= |
| By: | Luigi Guiso; Massimo Morelli; Tommaso Sonno; Helios Herrera |
| Abstract: | This paper argues that the financial crisis was a watershed in the burst of populism both on the demand side (voters behaviour) and on the supply side (political parties behaviour). On the demand side, we provide novel results on the causal effect of the financial crisis on trust, turnout and voting choices via its effects on voters economic insecurity. Economic insecurity peaks during the financial crisis and extends to segments of the population untouched by the globalization and robotization shocks. To establish causality, we use a pseudo-panel analysis and instrument the economic insecurity of different cohorts leveraging on a new methodology designed to highlight the different sensitivity to financial constraints for people in different occupations. On the supply side, we trace from manifestos the policy positions of old and new parties showing that the supply of populism had the largest jump right after the financial crisis. The size of the jump is largest in countries with low fiscal space and for parties on the left of the political spectrum. We provide a formal rationalization for the key role of fiscal space, showing how the pre-financial crisis shocks enter the picture as sources of a shrinking fiscal space. |
| Keywords: | Demand and Supply of Populism; Financial Crisis; Fiscal Space; Age-Earning Profiles |
| JEL: | D72 D78 D14 H30 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:baf:cbafwp:cbafwp20166&r= |
| By: | G. Cerulli (IRCrES-CNR Rome, Italy); R. Simone; F. Di Iorio; D. Piccolo (Department of Political Sciences, University of Naples Federico II, Italy); C.F. Baum (Boston College, Chestnut Hill, MA, USA) |
| Abstract: | Many survey questions are addressed as ordered rating variables to assess the extent by which a certain perception or opinion holds among respondents. These responses cannot be treated as objective measures, and a proper statistical analysis to account for their fuzziness is the class of CUB models, acronym of Combination of Uniform and Shifted Binomial (Piccolo and Simone 2019), establishing a different paradigm to model both individual perception (feeling) towards the items and uncertainty. Uncertainty can be considered as a noise for feeling measurement taking the form of heterogeneity of the distribution. CUB models are specified via a two-component discrete mixture to combine feeling and uncertainty modelling. In the baseline version, a shifted Binomial distribution accounts for the underlying feeling and a discrete Uniform accounts for heterogeneity, but different specifications are possible to encompass inflated frequencies, for instance. Featuring parameters can be linked to subjects' characteristics to derive response profiles. Then, different items (possibly measured on scales with different lengths) and groups of respondents can be represented and compared through effective visualization tools. Our contribution is tailored to present CUB modelling to the Stata community by discussing the CUB Module with different case studies to illustrate its applicative extent. |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug21:16&r= |
| By: | Fotios Fitsilis; Stelios Stavridis |
| Abstract: | There is growing academic attention to both parliamentary diplomacy and to parliamentary digital communication in recent years. Yet, the study of Greek parliamentary diplomacy remains an under-researched topic. The paper brings together these two dimensions by considering the following case study: the Hellenic Parliament«s reactions to the November 2019 Turkey-Libya (internationally recognized government) Memorandum of Understanding on maritime boundaries in the Mediterranean Sea. To do so, this study will address the following key research question: has the Hellenic Parliament as an institution adopted new technologies and data openness to promote its parliamentary diplomacy? There is new literature widely expecting that parliaments do so, but, to date, there is little empirical evidence to that effect. This paper attempts to close this gap by investigating which digital tools were utilized in an effort to defend and promote Greece«s stance on that issue between November 2019 and March 2020. |
| Keywords: | Hellenic Parliament, Greek parliamentary diplomacy, digital media, Turkish-Libyan MoU, maritime boundaries |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:hel:greese:163&r= |
| By: | Bertrand SAVOYE; Maxime TERRIEUX; Cécile VALADIER; Sylvain BELLEFONTAINE,; Cécile DUQUESNAY,; Marion HEMAR,; Benoît JONVEAUX,; Laura MARIE,; Emmanuelle MONAT,; Jules PORTE,; Meghann PULOC’H |
| Abstract: | Les numéos spéciaux « Panorama semestriel » de la collection Macrodev, rédigés par les analystes de l’AFD, présentent une synthèse d’analyses macroéconomiques et socioéconomiques de pays émergents et en développement (PED). Une section thématique accompagne les focus pays et apporte un éclairage sur les problématiques et grands enjeux conjoncturels et structurels des PED. |
| Keywords: | Afrique, Côte d'Ivoire, Tchad, Zambie, Équateur, Birmanie, Géorgie, Ouzbékistan, Sri Lanka, Trois Océans, Madagascar |
| JEL: | E |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:avg:wpaper:fr13039&r= |
| By: | Tomas Adam; Ondrej Michalek; Ales Michl; Eva Slezakova |
| Abstract: | We introduce the Rushin, a weekly index of Czech economic activity. The index is based on alternative, high-frequency indicators and standard, low-frequency macroeconomic data. Various information from the economy is aggregated to extract a signal about real-time dynamics in the real economy. Although the information on the GDP growth rate is not used directly in the construction of the index, the indicator fits GDP data well, particularly in turbulent times such as the global financial crisis and the COVID-19 crisis. Therefore, it can be used for the real-time monitoring of economic activity, nowcasting and identifying turning points in the economy. The name of the index alludes to the name of Czechoslovakia's first finance minister Alois Rasin and the timeliness (rush-) of the index (-in). |
| Keywords: | COVID-19 crisis, economic activity index, high-frequency indicators, nowcasting |
| JEL: | C32 C43 E01 E32 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cnb:wpaper:2021/4&r= |
| By: | Joshua Ballance; Melanie Qing; J. Christina Wang |
| Abstract: | This policy brief uses Dun & Bradstreet (D&B) data to assess whether the Main Street Lending Program (MSLP) borrowers were in worse financial health than their peers before COVID-19 hit the economy hard in March 2020 or suffered worse deterioration afterward. The findings can help us better understand why these firms sought to obtain MSLP loans. We find that MSLP borrowers tend to be larger than their peer firms (that is, firms in the same industry and state). Within the same size group, MSLP borrowers are on average younger than their peers. Borrowers tended to have a slightly higher predicted risk of failure than their peers in March 2020. Their failure risk grew somewhat more than their peers' risk from March to the month when their MSLP loan request was submitted. These firms' relative performance in 2020 appears to be little correlated with their relative performance over the corresponding months in 2019. MSLP borrowers had worse actual delinquency records in March 2020, as well as more deterioration than their peers from March to the month of the MSLP loan submission. For the subset of borrowers with business spending data available from D&B, spending was on average higher in March 2020 than their peer companies' spending, and it fell somewhat less from March to the MSLP loan submission month. Taken together, our findings suggest that these firms borrowed from the MSLP because 1) their greater growth or survival potential, and hence relationship value, made lenders willing to lend to them, and 2) their higher credit risk made the MSLP attractive, as it enabled the borrowers to pay a lower price or obtain more credit than they would have otherwise. |
| Keywords: | Main Street Lending Program; Federal Reserve; COVID-19; Dun & Bradstreet firm-level data |
| JEL: | D22 E58 E63 E65 |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedbcq:93055&r= |
| By: | Jianqing Fan; Yongyi Guo; Mengxin Yu |
| Abstract: | In this paper, we study the contextual dynamic pricing problem where the market value of a product is linear in its observed features plus some market noise. Products are sold one at a time, and only a binary response indicating success or failure of a sale is observed. Our model setting is similar to Javanmard and Nazerzadeh [2019] except that we expand the demand curve to a semiparametric model and need to learn dynamically both parametric and nonparametric components. We propose a dynamic statistical learning and decision-making policy that combines semiparametric estimation from a generalized linear model with an unknown link and online decision-making to minimize regret (maximize revenue). Under mild conditions, we show that for a market noise c.d.f. $F(\cdot)$ with $m$-th order derivative ($m\geq 2$), our policy achieves a regret upper bound of $\tilde{O}_{d}(T^{\frac{2m+1}{4m-1}})$, where $T$ is time horizon and $\tilde{O}_{d}$ is the order that hides logarithmic terms and the dimensionality of feature $d$. The upper bound is further reduced to $\tilde{O}_{d}(\sqrt{T})$ if $F$ is super smooth whose Fourier transform decays exponentially. In terms of dependence on the horizon $T$, these upper bounds are close to $\Omega(\sqrt{T})$, the lower bound where $F$ belongs to a parametric class. We further generalize these results to the case with dynamically dependent product features under the strong mixing condition. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06368&r= |
| By: | Edquist, Harald |
| Abstract: | Based on panel data of 116 countries in 2014-2019, this paper investigates the association between mobile broadband speed and labor productivity. It finds no robust contemporaneous relationship, but there is a significant and robust effect when a one-year lag of mobile broadband speed is introduced (significant at 3.7 and 0.9 percent levels for fixed and random effects estimation, respectively). The interpretation of the results is that a 10 percent increase in mobile broadband speed in period t-1 is associated with 0.2 percent increase in labor productivity, cetris paribus. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238018&r= |
| By: | Zuzana Molnarova |
| Abstract: | : Aggregate labor productivity used to be strongly procyclical in the United States, but the procyclicality has largely disappeared since the mid-1980s. This paper explores the industry-level evidence in order to discriminate between existing explanations of the vanishing procyclicality of the labor productivity. I document the change in the cyclical properties of productivity in the U.S. using industry-level data and focus on a particularly puzzling feature, namely that the correlations of the industry productivity with industry output and labor input remained on average much more stable before and after the mid-1980s compared to the aggregate correlations. In other words, there is little evidence for the vanishing cyclicality of labor productivity at the industry level. I construct a simple industry-level RBC model that nests two leading explanations of the vanishing cyclicality of productivity that have been proposed in the literature. I show that the two explanations have qualitatively di?erent predictions for the cyclical properties of industry-level variables. The mechanism based on a structural change in the composition of aggregate shocks is able to replicate the stability of industry-level moments across time. In contrast, the mechanism based on increased labor market ?exibility is less successful in matching the industry-level evidence. |
| JEL: | E32 E24 E37 |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:vie:viennp:vie2001&r= |
| By: | Codrina Rada, Ansel Schiavone, Rudiger von Arnim |
| Abstract: | This paper presents a classical-Keynesian one sector model of labor-constrained growth that explains secular stagnation as the result of structural change. Structural change is defined as an exogenous increase in the employment share of stagnant activities, which exhibit no or low labor productivity growth. We discuss two models: (i) a classical distributive cycle in employment rate and labor share, and (ii) a Keynes-Kalecki distributive cycle that adds the incomecapital ratio as state variable. Both versions consider labor productivity growth as endogenous to the labor share, reminiscent of induced technical change. Further, growth rates of labor productivity and real wages are assumed to respond negatively to structural change as proxied by the employment share of stagnant activities. Drawing on seminal theories of structural change, we label the positive (negative) difference between these effects dominant Lewis (Baumol) dynamics. In steady state, and across all model variants, the adverse effect of structural change on labor productivity leads to stagnation. However, only the Keynes-Kalecki version with dominant Lewis dynamics and a weak profit squeeze also exhibits a falling labor share. |
| Keywords: | Goodwin cycle; stagnation; structural change; reserve army JEL Classification: E12, E25, E32, O41 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:uta:papers:2021_04&r= |
| By: | KUME Koichi; TSURU Kotaro; SANO Shinpei; YASUI Kengo |
| Abstract: | Using the individual data of an online questionnaire survey conducted by the Research Institute of Economy, Trade and Industry, we analyzed the leading factors of regular (fulltime and permanent) employees' work engagement in Japan. First, we confirmed that work engagement is positively correlated with wages, job satisfaction, organizational citizenship behaviors and negative turnover intention, through which we concluded that work engagement is desirable for both full-time employees and their employers. Next, we analyzed the leading factors of work engagement. Personality traits such as extraversion, conscientiousness, openness to experience, self-esteem and locus of control, and positive reciprocity are positively correlated with work engagement. Those who experience overtime work, opportunities to engage in various types of work, skill-enhancing, human-related work, work autonomy, and who receive advice and consultations have higher work engagement. In addition, positive correlations were seen between job characteristics (skill diversity, task importance, etc.) and work engagement. These results suggest that, for regular employees, providing work opportunities that lead to improved work engagement is important in realizing autonomous and diverse work styles. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:21045&r= |
| By: | Arlashkin Igor (Gaidar Institute for Economic Policy); Barbashova Natalia (Gaidar Institute for Economic Policy); Belev Sergey (Gaidar Institute for Economic Policy); Leonov Elisei (Gaidar Institute for Economic Policy); Deryugin Alexander (Gaidar Institute for Economic Policy); Sokolov Ilya (Gaidar Institute for Economic Policy); Tishchenko Tatiana (Gaidar Institute for Economic Policy) |
| Abstract: | The budget system revenues of the Russian Federation in 2020 shrank by Rb3.4 trillion in real terms compared to the previous year, or by 8.6% at constant prices (Table 6) on the back of reduced oil and gas revenues. For this reason, the proportion of oil and gas revenues in the total budget revenues of the enlarged government declined in 2020 to 13.1% against 20.9% in 2019. For non-oil and gas revenues, there is a slight increase of Rb118.0 bn or by 0.4% in constant prices, which was achieved during the crisis on the back of the transfer to the federal budget of the Bank of Russia profit obtained from the sale of equity stake in Sberbank (reflected under other income). In the total revenue side of the expanded government’s budget, the federal budget revenues decreased to 49.4% in 2020, compared to 51.1% in 2019. |
| Keywords: | Russian economy, intergovernmental relations, fiscal policy, budget system, revenues, expenditures, Bank of Russia |
| JEL: | E62 H5 H61 H62 H68 H7 H72 H77 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1118&r= |
| By: | Nathan Ratledge; Gabe Cadamuro; Brandon de la Cuesta; Matthieu Stigler; Marshall Burke |
| Abstract: | In many regions of the world, sparse data on key economic outcomes inhibits the development, targeting, and evaluation of public policy. We demonstrate how advancements in satellite imagery and machine learning can help ameliorate these data and inference challenges. In the context of an expansion of the electrical grid across Uganda, we show how a combination of satellite imagery and computer vision can be used to develop local-level livelihood measurements appropriate for inferring the causal impact of electricity access on livelihoods. We then show how ML-based inference techniques deliver more reliable estimates of the causal impact of electrification than traditional alternatives when applied to these data. We estimate that grid access improves village-level asset wealth in rural Uganda by 0.17 standard deviations, more than doubling the growth rate over our study period relative to untreated areas. Our results provide country-scale evidence on the impact of a key infrastructure investment, and provide a low-cost, generalizable approach to future policy evaluation in data sparse environments. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02890&r= |
| By: | Olivier Mevel (UBO UFR DSE - Université de Bretagne Occidentale - UFR Droit et sciences économiques - UBO - Université de Brest, LEGO - Laboratoire d'Economie et de Gestion de l'Ouest - UBS - Université de Bretagne Sud - UBO - Université de Brest - IMT - Institut Mines-Télécom [Paris] - IBSHS - Institut Brestois des Sciences de l'Homme et de la Société - UBO - Université de Brest - UBL - Université Bretagne Loire - IMT Atlantique - IMT Atlantique Bretagne-Pays de la Loire - IMT - Institut Mines-Télécom [Paris]); Thierry Morvan (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); Nélida Morvan (UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes) |
| Abstract: | This paper aims to study drive-in users' satisfaction and expectations concerning a new service formula that comes as a complement to existing services (hypermarkets, supermarkets). We sought to determine the elements of differentiation likely to trigger the emergence of new priorities for retailers who wish to modify the click-and-collect model. We conducted an empirical survey on a sample of 1078 individuals in Brittany and in the "Loire Atlantique" region. Our work identifies the following areas for improvement, as sources of differentiation: the design of the brand's website, the information sent to the user, the range of products on offer and the complementary customised solutions for users. |
| Abstract: | L'objectif de cet article est d'étudier la perception du degré de satisfaction ainsi que les attentes des consommateurs vis-à-vis du parcours client, et des mix marketing et logistique déployés par une nouvelle formule de service en grande distribution, en complément des formules déjà existantes (hypermarché, supermarché, etc.). Plus précisément, nous avons souhaité déterminer les éléments de différenciation susceptibles de faire notamment émerger de nouveaux axes à privilégier pour des enseignes souhaitant faire évoluer leur formule drive. Pour ce faire, nous avons mené une enquête empirique auprès de 1078 individus résidant en région Bretagne et en Loire Atlantique. Nos travaux révèlent les points d'amélioration suivants, sources de différenciation : le design du site internet de l'enseigne, les informations transmises à l'utilisateur, l'assortiment proposé, les services complémentaires plus personnalisés. |
| Keywords: | Food retail,click and collect,Marketing mix/logistics mix,Distribution alimentaire,drive,mix marketing/mix logistique |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03269554&r= |
| By: | Anthony Bald (Harvard University and RIPL); Eric Chyn (Dartmouth College, RIPL and NBER); Justine Hastings (Brown University, RIPL and NBER); Margarita Machelett (Banco de España and RIPL) |
| Abstract: | This paper measures impacts of removing children from families investigated for abuse or neglect. We use removal tendencies of child protection investigators as an instrument. We focus on young children investigated before age six and find that removal significantly increases test scores and reduces grade repetition for girls. There are no detectable impacts for boys. This pattern of results does not appear to be driven by heterogeneity in pre-removal characteristics, foster placements, or the type of schools attended after removal. The results are consistent with the hypothesis that development of abused and neglected girls is more responsive to home removal. |
| Keywords: | foster care, educational attainment, early intervention |
| JEL: | H75 I21 I24 I28 I38 J12 J13 J24 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2126&r= |
| By: | Shockey, James W |
| Abstract: | This paper explores the factors involved in an individual’s decision to wear a mask, looking also at the relationships among a wider range of actions recommended as part of the CDC’s COVID-19 public health strategy. Using national panel data collected beginning in March 2020, we analyze the interaction among self-reported measures of adherence to public health recommendations, individual perceptions of the effectiveness of mask wearing as a mitigation strategy, and indicators of individual attitudes toward political aspects of coronavirus mitigation. Results from two distinct analytic methods suggest that compliance with protective measures is associated with the belief that the coronavirus presents a real threat to the individual, that the recommended actions are effective at limiting the spread of the virus, and that there is nothing in the social context that discourages the individual from following the guidelines. |
| Date: | 2021–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:sgjvp&r= |
| By: | Marchesi, Silvia (University of Milan Bicocca); Masi, Tania (University of Chieti Pescara); Paul, Saumik (Newcastle University) |
| Abstract: | This paper evaluates the effect of development project aid from the World Bank and China on firms' sales growth, using a large dataset of 110864 firms spanning 121 countries between 2001 and 2016. We find that, contrary to the World Bank, Chinese ODA projects increase, on average, firm sales and, compared to sector-specific, Chinese region-specific aid positively affect firm performance. Finally, we show that the positive effect of Chinese aid is stronger for firms lacking transport infrastructure (and with better electricity provision), suggesting that aid may improve firm performance by releasing their infrastructure constraints. |
| Keywords: | aid effectiveness, world bank projects, chinese projects, geo-coding, firm growth |
| JEL: | F35 O19 D22 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14705&r= |
| By: | Bryan, Kevin; Guzman, Jorge |
| Abstract: | We use cross-state business registrations to track the geographic movement of startups with high growth potential. In their first five years, 6.6% percent of these startups move across state borders. Though startup births are concentrated geographically, hubs like Silicon Valley and Boston on net lose startups to entrepreneurial migration. A revealed preference approach nonparametrically identifies the average utility of cities to migrant founders. University towns and startup hubs have low relative utility. This pattern is due neither to vertical sorting nor industrial specialization. The higher-quality startups move to lower-tax, business-friendly cities, while less growth-oriented startups move to low-tax, high-amenity cities. |
| Date: | 2021–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:yd3v2&r= |
| By: | , Damayanti |
| Abstract: | This study discusses human resource management regarding the effect of work shifts, work experience, and work environment, on the performance of employees in the production division of PT. Alasindo Perdana Sakti. This study uses a quantitative approach, the sampling technique is saturated sampling with a sample of 35 employees. The analytical technique used is validity test, reliability test, classical assumption test, multiple linear regression analysis, coefficient of determination test, t test, F test. The results of the study found that partially there is a positive and significant effect between work shifts on the performance of employees in the production division of PT. Alasindo Perdana Sakti, this can be seen from the significant value of t of 0.000 <0.05. Work experience partially has a positive and significant impact on the performance of employees in the production division of PT. Alasindo Perdana Sakti, this can be seen from the significant value of t of 0.019 <0.05. The work environment partially has a positive and significant effect on the performance of employees of the production division of PT. Alasindo Perdana Sakti, this can be seen from the significant value of t of 0.031 < 0.05. Work shift work experience and work environment simultaneously have a positive and significant effect on the performance of employees in the production division of PT. Alasindo Perdana Sakti, this can be seen from the significant F value of 0.000 <0.05. |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:rke8b&r= |
| By: | Deepankar Basu (Department of Economics, University of Massachusetts Amherst) |
| Abstract: | In a recent contribution, Oster (2019) has proposed a method to generate bounds on treatment effects in the presence of unobservable con- founders. The method can only be implemented if a crucial problem of non-uniqueness is addressed. In this paper I demonstrate that one of the proposed methods to address non-uniqueness that relies on computing bias-adjusted treatment effects under the assumption of equal selection on observables and unobservables, is problematic on several counts. First, additional assumptions, which cannot be justified on theoretical grounds, are needed to ensure a unique solution; second, the method will not work when estimate of the treatment effect declines with the addition of controls; and third, the solution, and therefore conclusions about bias, can change dramatically if we deviate from equal selection even by a small magnitude. |
| Keywords: | treatment effect, omitted variable bias |
| JEL: | C21 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-05&r= |
| By: | David Cerezo S\'anchez |
| Abstract: | JUBILEE is a securely computed mechanism for debt relief and forgiveness in a frictionless manner without involving trusted third parties, leading to more harmonious debt settlements by incentivising the parties to truthfully reveal their private information. JUBILEE improves over all previous methods: - individually rational, incentive-compatible, truthful/strategy-proof, ex-post efficient, optimal mechanism for debt relief and forgiveness with private information - by the novel introduction of secure computation techniques to debt relief, the "blessing of the debtor" is hereby granted for the first time: debt settlements with higher expected profits and a higher probability of success than without using secure computation A simple and practical implementation is included for "The Secure Spreadsheet". Another implementation is realised using Raziel smart contracts on a blockchain with Pravuil consensus. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07267&r= |
| By: | Sagvosdkin, Valentin |
| Abstract: | Angesichts komplexer wirtschaftlicher und wirtschaftspolitischer Fragen steht der Wirtschaftsjournalismus vor der Herausforderung, mit vielfältigen Perspektiven zu einer demokratischen Meinungsbildung beizutragen. Indes steht er durch zahlreiche Studien in der Kritik, dem Anspruch nach Vielfalt und Multiperspektivität nicht gerecht zu werden, während sich in der Bezugsdisziplin der Wirtschaftswissenschaft eine Pluralismus-Debatte etabliert hat. Diese Diskurse werden hier zusammengeführt und die Frage aufgeworfen, wie wirtschaftswissenschaftlich plural und reflexiv Wirtschaftsjournalist*innen qualifiziert werden. Es werden grundlegende Qualifizierungszugänge identifiziert und Modulbeschreibungen aus 17 Studiengängen von sechs Universitäten und drei Hochschulen mittels Text-Mining und Schlagwortsuche im Hinblick auf ökonomische "Pluralität" und auf "Reflexivität" untersucht: Im Einzelnen zeigt sich ein gewisses Spektrum, insgesamt wird jedoch deutlich, dass ökonomische Pluralität und Reflexivität in der wirtschaftsjournalistischen Qualifizierung bisher nur eine (sehr) geringe Rolle spielen. Als Mindeststandard werden die Vermittlung eines Überblicks- und Kontextwissens zur pluralen Ökonomik, die Förderung der Fähigkeit zur Meta-Reflexion über Ökonomik sowie die Thematisierung aktueller Vielfalts- und Pluralitätsdebatten in der Ökonomik und im Wirtschaftsjournalismus vorgeschlagen. |
| Keywords: | Wirtschaftsjournalismus,wirtschaftspolitischer Journalismus,Pluralismus,Vielfalt,plurale Ökonomik,wirtschaftsjournalistische Qualifizierung |
| JEL: | A11 A12 A2 B41 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cuswps:69&r= |
| By: | Renaldi, Muhammad Andrian |
| Abstract: | Esai ini berisi pembahasan 4 jurnal yang memuat perihal pengelolaan lahan basah dan penanggulangan bencana mitigasi. dua jurnal yang pertama dibahas adalah jurnal mengenai penelitian pengelolaan lahan basah di Kalimantan Selatan. Dua jurnal berikutnya adalah jurnal mengenai model kolaboratif masyarakat dalam penanganan bencana mitigasi di Kalimantan Timur. |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:a47rg&r= |
| By: | Pierre, Patrice Jude (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise) |
| Abstract: | The COVID- 19 pandemic gave minimal reaction time to governments around the world. While causing millions of deaths, it was also detrimental to the global economy. This paper is an attempt to understand what we can learn from our experience with the virus, with a focus on the United States. I discuss good and bad U.S. policies and the overall performance of institutions involved in pandemic response. The approach is economical because it connects what happened with some key economic principles. I talk about how markets helped us generate most of the knowledge we have on the virus, and I explain how existing regulations slowed down the production and distribution of essential items in the fight against Covid . Given the scarce nature of public attention, I also discuss the lack of consistent public messaging for the pandemic in the United States |
| Keywords: | Coronavirus; Covid-19 |
| JEL: | I18 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:ris:jhisae:0191&r= |
| By: | SATO Kazuma |
| Abstract: | This study examines the association between subjective wellbeing and minimum wage using the Japan Panel Survey of Consumers (JPSC). JPSC investigates Japanese young and middle-aged women with a relatively high proportion of low-paid, non-regular workers. Based on fixed-effects models, the estimated results revealed no significant effect of minimum wage when using the continuous variable of life satisfaction as the dependent variable. However, we found a significant positive association between the minimum wage and life satisfaction when a dummy variable indicating whether the respondent had a high life satisfaction was used as the independent variable. This positive association was robust against estimation methods and the change of the definition of the treatment group that was affected by the minimum wage and the control group that was not affected by the minimum wage but worked at wage levels near the minimum wage. The estimated results of this study are partially consistent with previous studies examining the effect of introducing the minimum wage in Germany. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:21075&r= |
| By: | Grishina Elena (RANEPA); Lyashok Viktor (RANEPA); Makarentseva Alla (RANEPA); Maleva Tatiana (RANEPA); Mkrtchian Nikita (RANEPA); Florinskaya Yulia (RANEPA); Khasanova Ramilya (RANEPA); Burdyak Alexandra (RANEPA) |
| Abstract: | The reduction in real disposable cash income was due to the economic difficulties caused by the proliferation of the coronavirus infection The shutdown of a host of organizations in spring 2020 and the decline in consumer demand, in the first place for non-food products and services, reported in Q2-4 2020 (retail sales turnover came to 84.0, 98.4 and 97.2%, respectively of the same period of 2019) resulted in the cut in household incomes. In 2020, the total value of cash incomes of the population went down by 3.0% in real terms against 2019, while the amount of remuneration of wages and salaries of employees decreased by merely 0.9% in real terms. |
| Keywords: | Russian economy, households, labor market, social sentiment, internal migration, long-term migration, external labor migration |
| JEL: | D14 J01 J61 J62 F22 J11 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1132&r= |
| By: | Justus Baron; Bernhard Ganglmair; Nicola Persico; Timothy Simcoe; Emanuele Tarantino |
| Abstract: | Representation of women and minorities in a "selectorate" - the group that chooses an organization's leaders - is a key mechanism for promoting diversity. We show that representation, on its own, is not sufficient for selecting gender diversity - a supportive organizational culture is also required. In the case of the Internet Engineering Task Force, a random increase in female representation in its selection committee caused an increase in female appointments only after cultural norms supporting diversity and inclusion became more salient. |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2021_284&r= |
| By: | Cédric Gutierrez (Bocconi University [Milan, Italy]); Emmanuel Kemel (GREGHEC, HEC Paris - Ecole des Hautes Etudes Commerciales, CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The consequences of most economic decisions are uncertain: they are conditional on events with unknown probabilities that decision makers evaluate based on their beliefs. Beyond consequences and beliefs, decision makers' preferences for the source of uncertainty generating events can affect decisions, entailing a source-dependence of preferences. However, there is, to date, no direct way to measure and interpret source dependence for natural sources, preventing researchers from comparing source preference across decision makers or across natural sources. This paper presents a simple and general method to measure source dependence by introducing a source-dependence function that maps the subjective probabilities of events generated by two sources. The method allows to characterize source dependence from a limited number of observations and is compatible with commonly used, choice-based data. We implement the method on four datasets and show that it consistently captures clear, albeit heterogeneous, patterns of source dependence between natural sources. |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03330409&r= |
| By: | Parolin, Zachary (Columbia University); Gornick, Janet C. |
| Abstract: | Despite rising interest in income inequality, scholars remain divided over the mechanisms underlying inclusive income growth and how these mechanisms vary across countries. This study introduces the concept of national growth profiles, the additive contribution of changes in taxes, transfers, composition, and other factors including market institutions to changes across a country’s income distribution. We present a decomposition framework to measure national growth profiles for eight high-income countries from the 1980–2010s. Our findings adjudicate competing sociological and economic perspectives on rising inequality. First, we find that policy-driven changes in taxes and transfers are the dominant drivers of inclusive growth at the tails of the income distributions. Second, rising educational attainment contributes most to income growth across the distribution, but consistently contributes to less-inclusive growth. When changes in education are considered, changes in assortative mating and single parenthood have little consequence for changes in inequality. Third, changes to other factors including market institutions increased inequality in countries such as the U.S., but less so in France and Germany. Had the U.S. matched the changes to Dutch tax policy, Danish transfer policy, or other factors of most other countries, it could have achieved more inclusive income growth than observed. (Stone Center on Socio-Economic Inequality Working Paper) |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:rsxz6&r= |
| By: | Dewi, Intan Puspita; fernos, jhon |
| Abstract: | The purpose of this study is to inscrease knowledge about how to analyze credit management at PT. Bank Perkreditan Rakyat Ganto Nagari 1954 Lubuk Alung Kabupaten Padang Pariaman. The method of data analysis is using quantitative data and qualitative data as a research method. From the results of the study for the 2017-2018 period, the number of non-performing loans has decreased by 30% and in the 2018-2019 period there has been another decline of 0.70% and this proves that the credit management carried out has been running smoothly good. |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:np6g2&r= |
| By: | Daisuke Kurisu; Taisuke Otsu |
| Abstract: | This paper studies asymptotic properties of the local linear quantile estimator under the extremal order quantile asymptotics, and develops a practical inference method for conditional quantiles in extreme tail areas. By using a point process technique, the asymptotic distribution of the local linear quantile estimator is derived as a minimizer of certain functional of a Poisson point process that involves nuisance parameters. To circumvent difficulty of estimating those nuisance parameters, we propose a subsampling inference method for conditional extreme quantiles based on a self-normalized version of the local linear estimator. A simulation study illustrates usefulness of our subsampling inference to investigate extremal phenomena. |
| Keywords: | Quantile regression, Extreme value theory, Point process, Subsampling |
| JEL: | C14 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cep:stiecm:616&r= |
| By: | Francesco Giuli; Giuseppe Ciccarone (Sapienza University of Rome); Enrico Marchetti (University of Naples Parthenope) |
| Abstract: | We study the effects of COVID-19, and the ensuing lockdown and scal policies, on the welfare of different age-groups within a life-cycle macroeconomic scheme, adapted from Gertler (1999), where the pandemic is represented as a shock to the mortality rate. We obtain two main results. First, we can show that lockdown policies have a negative impact on the dynamics of economic welfare of younger agents relative to that of older agents, thus providing analytical support to the idea that the management of the COVID-19 pandemic through lockdown policies has hit mainlythe young generations. Second, we show that expansionary scal policies aimed at supporting income after the lockdown a¤ect the relative welfare index of age-groups mainly through the repayment scheme of the consequent public debt; the more the repayment scheme entails a postponement of the debt repayment, the more older agents are favored (in relative terms). |
| Keywords: | Covid19, Generational Effects, Containment Policies |
| JEL: | E13 I18 H51 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:rtr:wpaper:0260&r= |
| By: | CGIAR Research Program on Policies, Institutions, and Markets (PIM) |
| Abstract: | The long partnership between the Government of Egypt and the International Food Policy Research Institute (IFPRI) began in the late 1970s but became much more active with the launch of IFPRI’s Egypt Strategy Support Program (ESSP) in 2016. Over the years, IFPRI’s research, with support from PIM since 2012, has informed important decisions on Egypt’s key safety net programs, including the food subsidy and the national cash transfer programs. This note summarizes some of the most recent outcomes of this work. |
| Keywords: | EGYPT; ARAB COUNTRIES; MIDDLE EAST; NORTH AFRICA; AFRICA; social protection; nutrition; food security; programmes; inclusion; subsidies; cash transfers |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:pimons:1265314304&r= |
| By: | Antonin Aviat; Frédérique Bec; Claude Diebolt; Catherine Doz; Denis Ferrand; Laurent Ferrara; Eric Heyer; Valérie Mignon; Pierre-Alain Pionnier |
| Abstract: | This paper proposes a reference quarterly chronology for periods of expansion and recession in France since 1970, carried out by the Dating Committee of the French Economic Association (AFSE). The methodology used is based on two pillars: (i) econometric estimations from various key data to identify candidate periods, and (ii) a narrative approach that describes the economic background that prevailed at that time to finalize the dating chronology. Starting from 1970, the Committee has identified four economic recession periods: the two oil shocks 1974-75 and 1980, the investment cycle of 1992-93, and the Great Recession 2008-09 spawned by the Global Financial Crisis. The peak before the Covid-19 recession has been identified in the last quarter of 2019. |
| Keywords: | Business cycles, French economy, Dating, Narrative approach, Econometric modeling. |
| JEL: | E32 E37 C24 N14 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2021-33&r= |
| By: | Cindy Cunningham; Lucia Foster; Cheryl Grim; John Haltiwanger; Sabrina Wulff Pabilonia; Jay Stewart; Zoltan Wolf |
| Abstract: | Within-industry productivity dispersion is pervasive and exhibits substantial variation across countries, industries, and time. We build on prior research that explores the hypothesis that periods of innovation are initially associated with a surge in business start-ups, followed by increased experimentation that leads to rising dispersion potentially with declining aggregate productivity growth, and then a shakeout process that results in higher productivity growth and declining productivity dispersion. Using novel detailed industry-level data on total factor productivity and labor productivity dispersion from the Dispersion Statistics on Productivity along with novel measures of entry rates from the Business Dynamics Statistics and productivity growth data from the Bureau of Labor Statistics for U.S. manufacturing industries, we find support for this hypothesis, especially for the high-tech industries. |
| Keywords: | dispersion; entry; innovation; productivity; manufacturing; high-tech industries |
| JEL: | O3 O4 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:21-21&r= |
| By: | Charlotte Bartels; Cortnie Shupe |
| Abstract: | We compute participation tax rates across the EU and find that work disincentives inherent in tax-benefit systems largely depend on household composition and the individual's earner role within the household. We then estimate participation elasticities using an IV group estimator that enables us to investigate the responsiveness of individuals to work incentives. We contribute to the literature on heterogeneous elasticities by providing estimates for breadwinners and secondary earners separately, according to their potential earnings rather than gender. Our results show an average participation elasticity of 0.0-0.1 among breadwinners and 0.1-0.4 among secondary earners in the EU as well as a high degree of heterogeneity across countries. |
| Keywords: | Participation elasticities, labor supply, taxation, cross-country comparisons |
| JEL: | H24 H31 J22 J65 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1969&r= |
| By: | Sonia Bhalotra; Manuel Fernández |
| Abstract: | We estimate the health costs of supply-side barriers to accessing medical care. The setting is Colombia, where citizens have a constitutional right to health care, but insurance companies that manage delivery impose restrictions on access. We use administrative data on judicial claims for health as a proxy for unmet demand. We validate this using the register recording all health service utilization, estimating that a one standard deviation increase in judicial claims is associated with pervasive decreases in utilization rates of between 0.25 and 0.71 standard deviations, including in medical consultations, procedures, hospitalizations and emergency care. These restrictions on access manifest in population health outcomes. We estimate that a one standard deviation increase in judicial claims increases the all-cause mortality rate by between 0.10 and 0.23 standard deviations. Increases in mortality are pervasive across causes, with the largest increase in deaths from certain cancers. They are also pervasive across the age and sex distribution but larger among individuals over the age of fifty and (weakly) among women and the low-income population |
| Keywords: | Health care, health insurance, mortality, right-to-health, litigation, universalhealth-coverage, Colombia |
| JEL: | I11 I13 I18 K4 |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019555&r= |
| By: | Nguyen, Minh-Hoang |
| Abstract: | The resource curse, also known as the paradox of plenty or the poverty paradox, is the phenomenon of countries with an abundance of natural resources (such as fossil fuels and certain minerals) having less economic growth, less democracy, or worse development outcomes than countries with fewer natural resources.[1] There are many theories and much academic debate about the reasons for, and exceptions to, these adverse outcomes. Most experts believe the resource curse is not universal or inevitable, but affects certain types of countries or regions under certain conditions.[2][3] ***** For archiving purpose only ***** |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:36uyb&r= |
| By: | David Bounie (IP Paris - Institut Polytechnique de Paris); Antoine Dubus (ETH Zürich - Eidgenössische Technische Hochschule - Swiss Federal Institute of Technology [Zürich]); Patrick Waelbroeck (Télécom Paris) |
| Abstract: | We analyze competition between data intermediaries collecting information on consumers, which they sell to firms for price discrimination purposes. We show that competition between data intermediaries benefits consumers by increasing competition between firms, and by reducing the amount of consumer data collected. We argue that merger policy guidelines should investigate the effect of the data strategies of large intermediaries on competition and consumer surplus in related markets. |
| Date: | 2021–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03336520&r= |
| By: | Christine Arriola; Przemyslaw Kowalski; Frank van Tongeren |
| Abstract: | 2020 marked some of the largest reductions in trade and output volumes since WWII. Focusing on the COVID-19 pandemic and using the latest monthly and quarterly data on international trade of selected countries and products, this paper documents key shifts in geographical direction and product composition of international trade in 2020. Trade in services declined by more than twice as much as trade in goods and its recovery has also been slower. While the size of the drop in global trade relative to the drop in output in 2020 was smaller than during the Global Financial Crisis (GFC), this was not related to the overall size of the trade impacts in 2020, but rather reflects the significant heterogeneity of trade and production impacts across specific goods, services and trade partners from COVID-19. Trade in several types of goods plummeted, while that in others increased markedly. As a result, the variation in trade impacts across the different product categories in 2020 was not only larger than during the GFC, but also larger than in any other year during the past two decades. The product structure of countries’ goods trade also changed significantly in 2020, indicating large adjustments. While some international supply chains came under pressure in early months of the pandemic, the data also show that supply chains were instrumental in the resumption of economic activity. The distance travelled by imported products actually continued to increase in 2020, largely as a result of China and other Asian countries filling supply gaps resulting from lockdowns and demand changes in other regions. These shifts occurred in the context of significant perturbations in the international transport sector. While it is not known which of the changes in 2020 will be only short-lived, some seem to show signs of longer-term shifts or are likely to result in long-term adjustments. Above all, the unprecedented heterogeneity of changes in trade flows across products, sources and destinations seen in 2020 suggests high uncertainty and adjustment costs, and implies an increased need ‒ and incentives ‒ for consumers, firms and governments to adopt new or intensify existing risk mitigation strategies. |
| Keywords: | COVID-19, Globalisation, International supply chains, International trade, Statistics |
| JEL: | F10 F14 F40 F61 |
| Date: | 2021–09–20 |
| URL: | http://d.repec.org/n?u=RePEc:oec:traaab:252-en&r= |
| By: | Tatjana Dahlhaus; Angelika Welte |
| Abstract: | We investigate how the COVID-19 pandemic has changed consumers’ payments habits in Canada. We rely on high-frequency data on cash withdrawals and debit card transactions from Interac Corp. and Canada’s Automated Clearing Settlement System. We construct daily measures of payment habits reflecting cash usage, average transaction values, and the share of transactions in which the customer or card holder and the acquiring machine (ATM or POS) are of the same bank. Using simple dummy regressions and local projection models, we assess how these indicators of payment habits have changed with the evolution of the COVID-19 pandemic. We find evidence that during the pandemic consumers adjusted their behaviour by avoiding frequent trips for cash withdrawals and point-of-sale purchases and making fewer transactions for higher amounts. They also made smaller-value cash withdrawals compared with the value of card payments, which could reflect a reduced use of cash for point-of-sale transactions. Consumers also made relatively more withdrawals from ATMs that are linked to their financial institution (on-us transactions). Finally, we highlight that estimates of economic activity based on card data alone could be biased if shifts in payment habits are not taken into account. We estimate that debit card payments might have overstated consumer expenditure growth by up to 7 percentage points over the course of the pandemic. |
| Keywords: | Coronavirus disease (COVID-19); Domestic demand and components; Payment clearing and settlement systems; Recent economic and financial developments |
| JEL: | C22 C55 D12 E21 E42 E52 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocawp:21-43&r= |
| By: | , Reni; Widayati, Ratna |
| Abstract: | The purpose of this study was to find out how the implementation of giving credit to the Bank Nagari west Sumatra. In analyzing the data, qualitative data analysis was used as a research methods that explained descriptively. The results of the study conclude that in the implementation of lending must go through several prosedures that must be met by customers, namely: credit application, credit analysis, credit approval, credit contract and credit search. arter the signing of the contract, the customer must carry out all agreement, which are binding and cannot be contested |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:r5mq2&r= |
| By: | Miles M. Finney |
| Abstract: | The immigrant population has grown dramatically in the US in the last fifty years. This study estimates housing demand among immigrants and discusses how immigration may be altering the structure of US urban areas. Immigrants are found to consume less housing per capita than native born US residents. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:21-23&r= |
| By: | David Neumark; Maysen Yen |
| Abstract: | Recent policy debate on minimum wages has focused not only on raising the minimum wage, but on eliminating the tip credit for restaurant workers. We use data on past variation in tip credits – or minimum wages for restaurant workers – to provide evidence on the potential impacts of eliminating (or reducing) the tip credit. Our evidence points to higher tipped minimum wages (smaller tip credits) reducing jobs among tipped restaurant workers, without earnings effects on those who remain employed sufficiently large to raise total earnings in this sector. And most of our evidence provides no indication that higher tipped minimum wages would be well targeted to poor or low-income families or reduce the likelihood of being poor or very low income. |
| JEL: | J23 J38 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29213&r= |
| By: | Federico Echenique |
| Abstract: | This note provides a critical discussion of the \textit{Critical Cost-Efficiency Index} (CCEI) as used to assess deviations from utility-maximizing behavior. I argue that the CCEI is hard to interpret, and that it can disagree with other plausible measures of "irrational" behavior. The common interpretation of CCEI as wasted income is questionable. Moreover, I show that one agent may have more unstable preferences than another, but seem more rational according to the CCEI. This calls into question the (now common) use of CCEI as an ordinal and cardinal measure of degrees of rationality. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06354&r= |
| By: | Barinova Vera (Gaidar Institute for Economic Policy); Zemtsov Tsepan (Gaidar Institute for Economic Policy); Tsareva Yulia (Gaidar Institute for Economic Policy) |
| Abstract: | The unprecedented scale of the COVID-19 epidemic created harsh environment for operation of small and medium-sized businesses: decline in household incomes and demand, shutdown of foreign markets and uncertainty of the economic situation. The lockdown introduced in April 2020, resulted in temporary suspension of activities of many enterprises providing services: thus, for instance, trade, catering, hotels, repair shops, hairdressers, etc. Activity of small businesses reduced to the values observed during the crisis of 2015. According to our estimates, the crisis affected more than 75% of SMEs, although about 11% of enterprises and 5.5 million employees2 are concentrated in the most affected industries. In March-April 2020, revenues in some industries fell by more than 90%. There was a high likelihood of closing millions of businesses and reducing the number of people employed in the SME sector by several million |
| Keywords: | Russian economy, small businesses, medium-sized enterprises, OVID-19, lockdown |
| JEL: | C53 E37 L21 L52 I18 I19 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1130&r= |
| By: | Manasa Gopal |
| Abstract: | I study the role of collateral on small business credit access in the aftermath of the 2008 financial crisis. I construct a novel, loan-level dataset covering all collateralized small business lending in Texas from 2002-2016 and link it to the U.S. Census of Establishments. Using textual analysis, I show that post-2008, lenders reduced credit supply to borrowers outside of the lender's collateral specialization. This result holds when comparing lending to the same borrower from different lenders, and when comparing lending by the same lender to different borrowers. A one standard deviation higher specialization in collateral increases lending to the same firm by 3.7%. Abstracting from general equilibrium effects, if firms switched to lenders with the highest specialization in their collateral, aggregate lending would increase by 14.8%. Furthermore, firms borrowing from lenders with greater specialization in the borrower's collateral see a larger growth in employment after 2008. Finally, I show that firms with collateral more frequently accepted by lenders in the economy find it easier to switch lenders. In sum, my paper shows that borrowing from specialized lenders increases access to credit and employment during a financial crisis. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:21-22&r= |
| By: | U.S. Department of Transportation, John A. Volpe National Transportation Systems Center; U.S. Department of Agriculture, Agricultural Marketing Service |
| Abstract: | This report provides information to inform the transportation planning and project selection processes that build and maintain the highway infrastructure upon which the agriculture industry relies upon for safe and efficient transportation of goods. It demonstrates the interconnected nature of agricultural freight and highlights the need for cooperation across jurisdictions via 1) A summary of the economic significance of highway infrastructure to the agriculture industry; 2) Identification of High-Volume Domestic Agriculture Highways based on 2018 commodity flows; 3) Modeled projections of future infrastructure conditions and performance; 4) Identification of efforts to improve agricultural freight movements. |
| Keywords: | Crop Production/Industries, Livestock Production/Industries, Marketing, Research Methods/ Statistical Methods |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:ags:uamstr:313492&r= |
| By: | Belleflamme, Paul (Université catholique de Louvain, LIDAM/CORE, Belgium); Ha, Huan (Université catholique de Louvain, LIDAM/CORE, Belgium) |
| Abstract: | We analyze the strategic interaction between competing firms that source their inputs from either primary or recycled material. Because the manufacturers’ primary production today serves as input for the recyclers’ production tomorrow, manufacturers can limit the recyclers’ scale of operation by reducing their output. Improving the recycling process generates then two opposite effects: it reduces primary production tomorrow by exposing manufacturers to stronger competition from recyclers, but it also lowers the manufacturers’ incentives to reduce their primary production today. Making the recycling process too efficient might then be counterproductive for the environment. This intuition equally applies to remanufacturing. |
| Keywords: | Recycling, remanufacturing, circular economy, strategic entry accommodation |
| JEL: | L13 L72 O13 Q58 |
| Date: | 2021–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvco:2021009&r= |
| By: | Tahara, Hiroki (Jan Academy) |
| Abstract: | A Proposal for the Wordings and Expressions of the Articles of Endowment at the Time of Establishment of a Nichtrechtsfähiger Foundation in Light of the Academic Theory that an Unincorporated Foundation without Rechtspersönlichkeit Should be Deemed as a Trust in the sense of Academic Argument |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:fus4w&r= |
| By: | HEIKE Masahiro |
| Abstract: | This case is one of a series of WTO dispute settlement cases which relates to the political conflict between Russia and Ukraine. Ukraine claims that Russia's measures related to Conformity Assessment Procedures which restricted the acquisition of certifications required for sales in Russia and hindered the export of Ukrainian railway equipment to Russia are inconsistent with the WTO Agreement. The conformity assessment procedure is a procedure for demonstrating that a product conforms to technical regulations and standards. And, as confirmation through conformity assessment that products conform with technical regulations may be treated as a condition for importing and selling the product, the way the procedures are designed and conducted may have a significant impact on trade of goods. In fact, in some studies, about half of the "Specific Trade Concerns" (STCs) presented at the 2010-2014 TBT Committee were measures related to conformity assessment procedures. As Article 5 of the TBT Agreement, which regulates the conformity assessment procedure, has not been disputed in the WTO dispute resolution procedure, this case has important significance in that it shows the legal framework for applying this provision for the first time. |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rpdpjp:21014&r= |
| By: | Mendez, Alvaro |
| Abstract: | This essay gives insight into the interaction of the Asian Infrastructure Investment Bank (AIIB) with Latin America and the Caribbean (LAC). The AIIB has expressed a clear interest in LAC, accepting eight countries as ‘prospective’ members pending paying‐in their capital, but LAC shows almost no stamina. It is the world's only region lacking even one paid‐in member. So long as Beijing backs the request, prospective membership only requires writing a few letters. But LAC's inertia in officially joining, by passing legislation and making their capital contribution, is puzzling, given the benefits that lie untapped. The likeliest cause is their own culture of sheer negligent short‐sightedness (‘let's do it mañana’). This tendency to adjourn the acid test of action could be mitigated if countries in the region adopt long‐term non‐partisan National Development Plans to strengthen their institutional policy‐making capacity. For their part, the AIIB's Governors and Beijing, despite their initial keen interest in LAC, have had to give up nudging and adapt themselves to the Latin Americans’ labile perception of time in order to conserve their public image. They must remind LAC that only paid‐in members receive financial benefits. |
| JEL: | F3 G3 |
| Date: | 2019–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:101621&r= |
| By: | Vincent Chatellier |
| Abstract: | [in French] Le revenu des actifs agricoles non-salariés est placé au coeur de nombreux débats et analyses portant sur la trajectoire économique des exploitations agricoles françaises. D’après les données du Réseau d’Information Comptable Agricole (Rica), le résultat courant avant impôt (RCAI) par unité de travail agricole non-salariée (UTANS) s’est élevé à 29 500 euros (en monnaie constante de 2019) en moyenne sur les dix ans de la période 2010-2019. Ce résultat moyen, qui est soumis à de fortes variations interannuelles selon la conjoncture des prix internationaux et l’importance des récoltes, masque une très grande hétérogénéité. Pour en rendre compte, deux grilles typologiques sont proposées en s’appuyant sur la combinaison de trois indicateurs, à savoir la productivité du travail, l’efficience productive et la capacité à faire face à la dette. Après une analyse portant sur l’évolution de la dispersion du revenu des actifs agricoles non-salariés au cours des dix dernières années (2010-2019), le mode de construction des deux grilles est présenté. Une application aux données du Rica permet d’en mesurer ensuite les enseignements en termes de distribution des exploitations agricoles françaises et de résultats. La variabilité du RCAI par UTANS est forte entre les OTEX, mais également au sein de chacune d’elle. L’objectif poursuivi dans la construction de ces deux grilles typologiques est que celles-ci puissent être mises en oeuvre autant que possible par les producteurs, publics ou privés, de données sur les revenus en agriculture. |
| Keywords: | Rica, revenu agricole, performance économique, typologie, exploitations agricoles |
| JEL: | Q12 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:rae:wpaper:202105&r= |
| By: | HASHIMOTO Yuki; KOMAE Kazutomo |
| Abstract: | This study examines the negative externalities resulting from limited opportunities for negotiations between government institutions. We show that the externalities caused by subsidized wheelchair-accessible vehicles (SWAV) under policies for elderly care have eroded the demand for taxis regulated by transportation policies in Japan. An increase of 10 percent of SWAV is associated with a roughly 1 percent decrease in the number of passengers and operating revenue for taxis. The increase in SWAV accounts for as much as one third of the drop in taxi usage between 2010 and 2015. Our analysis also finds that taxi drivers' wage elasticity is greater than 1, meaning that wages were reduced more than the decrease in taxi usage. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:21074&r= |
| By: | Decerf, Benoit (World Bank); Maniquet, François (Université catholique de Louvain, LIDAM/CORE, Belgium) |
| Abstract: | We study the optimal taxation of bequests in a version of the model of Piketty and Saez (2013). Agents have heterogeneous preferences over their consumption and the net-of-tax bequest received by their heir. The bequest left by an individual depends on both her degree of altruism and the bequest received from her parents. First, we study two principles at the heart of the debates on taxing inheritances: 1) children should not be penalized by the lack of altruism of their parents; 2) parents should be free to choose their bequests. Only one social welfare function (SWF) satisfies these two principles, together with Pareto efficiency and a separability principle. Second, we study the shape of the inheritance tax scheme that maximizes this SWF. We show that, in the aggregate, the inheritance tax must collect money (redistributed through a non-negative demogrant). Moreover, small bequests cannot be taxed (they can potentially be subsidized), while bequests larger than that of the most altruistic individuals who did not receive bequests from their parents should be taxed as much as efficiency permits. |
| Date: | 2021–08–20 |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvco:2021011&r= |
| By: | Amal Ahmad (Department of Economics, University of Massachusetts Amherst) |
| Abstract: | Why have Israel and the Palestinians failed to implement a “land for peace” solution, along the lines of the Oslo Accords? This paper studies the application of game theory to this question. I show that existing models of the conflict largely rely on unrealistic assumptions about what the main actors are trying to achieve. Specifically, they assume that Israel is strategically interested in withdrawing from the occupied territories pending resolvable security concerns but that it is obstructed from doing so by violent Palestinians with other objectives. I use historical analysis along with bargaining theory to shed doubt on this assumption, and to argue that the persistence of conflict has been aligned with, not contrary to, the interests of the militarily powerful party, Israel. |
| Keywords: | Israel-Palestine, international conflicts, strategic behavior |
| JEL: | D74 F51 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-04&r= |
| By: | Rafa{\l} M. {\L}ochowski |
| Abstract: | Shafer and Vovk introduce in their book 'Game-theoretic foundations for probability and finance' the notion of 'instant enforcement'. In this paper we introduce an outer measure on the space of continuous paths which assigns zero value exactly to those sets (properties) of pairs of time $t$ and elementary event $\omega$ which are instantly blockable. Next, for the introduced measure we prove BDG inequalities and use them to define It\^o-type integral. Additionally, we prove few properties for the quadratic variation of model-free continuous paths which hold with instant enforcement. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07928&r= |
| By: | Bian, Shuwen |
| Abstract: | Zwischen 2011 und 2020 haben insgesamt 193 Investoren aus der Volksrepublik in 243 Fällen deutsche Unternehmen mehrheitlich oder vollständig übernommen. 2016 investierten chinesische Unternehmen zum ersten Mal in den bilateralen Wirtschaftsbeziehungen mehr in Deutschland als die deutschen Unternehmen in China. Ab 2018 gingen die chinesischen M&A-Aktivitäten in Deutschland spürbar zurück und fielen 2020 auf den niedrigsten Stand seit zehn Jahren. Eine Untersuchung der chinesischen Handelskammer vom Sommer 2020 zeigt, dass ein Drittel der befragten chinesischen Unternehmen in Deutschland damals einen Liquiditätsengpass innerhalb von sechs Monaten infolge des Pandemieausbruches erwarten. Rückmeldungen aus einigen betroffenen deutschen Tochterunternehmen zeigen, dass der finanzielle Druck der chinesischen Mutterkonzerne auf die deutschen Standorte deutlich gestiegen ist. In einzelnen Fällen gehören Lohnverzicht und Stellenabbau zu den aktuellen Anforderungen der chinesischen Gesellschafter. Sobald die während der Übernahme geschlossenen Standortsicherungsverträge ausgelaufen sind, entfällt der Schutz vor betriebsbedingten Kündigungen. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:hbsmbr:66&r= |
| By: | Hongzhen Ni; Jing Zhao; Xiujian Peng; Glyn Wittwer; Genfa Chena |
| Abstract: | This paper uses SinoTERM, a dynamic multi-regional computable general equilibrium model (CGE) of the Chinese economy, to analyze the economic impact of large hydropower development projects. The model features regional labor market dynamics and an electricity subdivision module with substitutability between various types of electricity generation. The results suggest that hydropower development will boost economic growth in the project region. Most sectors in the project region will benefit from the hydropower development while some sectors will suffer a loss in output because of the substantial increase in real wages. Neighboring regions also benefit as a result of increased electricity supply in the operational phase of the proposed hydropower station. The impact of the hydropower development project on the national GDP as a whole is relatively small although positive. However, because of the long lag between the construction and operational phases, the hydropower development project will result in a national welfare loss measured by real household consumption and net foreign liability. Therefore, the project could only be justified if net environmental benefits outweigh this loss. |
| Keywords: | dynamic CGE model, hydropower development, multiple regions, economic impacts, electricity subdivision module, China |
| JEL: | C68 O13 R58 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cop:wpaper:g-320&r= |
| By: | Frieden, Rob |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb21:238022&r= |
| By: | Schwanitz, Valeria Jana |
| Abstract: | Integrated Assessment Models of Global Climate Change are an established tool to explore possible pathways of climate change mitigation and adaptation. The models are a quantitative backbone for IPCC reports. But can the models be trusted? This manuscript discusses how the models can be scrutinized and where limits to model validation exist. |
| Date: | 2021–09–04 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:63yd8&r= |
| By: | Kengo Nutahara |
| Abstract: | The main objective of this paper is to investigate monetary policy response to asset price in a sticky price economy where the trend inflation rate is non-zero. We find that monetary policy response to asset price is helpful for achieving equilibrium determinacy if the trend inflation is negative (i.e., deflation) and sufficiently low. If this is not the case, monetary policy response to asset price becomes a source of equilibrium indeterminacy. We also find that monetary policy response to asset price can be helpful for equilibrium determinacy even if the trend inflation is positive in the case where the nominal wage is also sticky, and the parameter values are consistent with recent micro evidence. |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:cnn:wpaper:21-004e&r= |
| By: | Florens Odendahl; Barbara Rossi; Tatevik Sekhposyan |
| Abstract: | We propose a novel forecast evaluation methodology to assess models' absolute and relative forecasting performance when it is a state-dependent function of economic variables. In our framework, the forecasting performance, measured by a forecast error loss function, is modeled via a hard or smooth threshold model with unknown threshold values. Existing tests either assume a constant out-of-sample forecast performance or use non-parametric techniques robust to time-variation; consequently, they may lack power against state-dependent predictability. Our tests can be applied to relative forecast comparisons, forecast encompassing, forecast efficiency, and, more generally, moment-based tests of forecast evaluation. Monte Carlo results suggest that our proposed tests perform well in finite samples and have better power than existing tests in selecting the best forecast or assessing its efficiency in the presence of state dependence. Our tests uncover "pockets of predictability" in U.S. equity premia; although the term spread is not a useful predictor on average over the sample, it forecasts significantly better than the benchmark forecast when real GDP growth is low. In addition, we find that leading indicators, such as measures of vacancy postings and new orders for durable goods, improve the forecasts of U.S. industrial production when financial conditions are tight. |
| Keywords: | State dependence, forecast evaluation, predictive ability testing, moment-based tests; pockets of predictability |
| JEL: | C52 C53 E17 G17 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:upf:upfgen:1800&r= |
| By: | Cörvers, Frank (RS: GSBE Theme Learning and Work, RS: FdR Research Group ITEM, RS: SBE - MACIMIDE, ROA / Human capital in the region); van Wetten, Sanne (ROA / Education and transition to work, RS: GSBE other - not theme-related research) |
| Abstract: | Dit werkdocument verkent de macrodoelmatigheid van een beoogde bacheloropleiding Circular Engineering (CE) aan de Faculty of Science and Engineering (FSE) van de Universiteit Maastricht. Daartoe is gekeken naar de marktomvang van verwante opleidingen, de potentiële uitstroom naar relevante vervolgopleidingen in de masterfase en de arbeidsmarktkansen van afgestudeerden van deze vervolgopleidingen en van vergelijkbare bacheloropleidingen. Dit laatste is gedaan door de huidige en toekomstige arbeidsmarktpositie van verwante (vervolg)opleidingen van de bacheloropleiding CE in te schatten en door interviews te houden met contactpersonen uit het werkveld. |
| Date: | 2021–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:unm:umarot:2021003&r= |
| By: | José Romero (El Colegio de México); Julen Berasaluce (El Colegio de México) |
| Abstract: | Este documento contiene una propuesta de política industrial para México con base en tres sectores prioritarios, los cuales se describen en los siguientes apartados: 1) Hacia una política petroquímica nacional. 2) Industria Siderúrgica: pilar de desarrollo con visión social. Y 3) Industria farmacéutica en México. Coordinadores: José Romero y Julen Berasaluce. |
| Keywords: | política industrial, política petroquímica, industria siderúrgica, industria farmacéutica. |
| JEL: | L52 O25 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:emx:ceedoc:2021-02&r= |
| By: | Eric Djeutcha (UMa - University of Maroua); Jules Sadefo Kamdem (MRE - Montpellier Recherche en Economie - UM - Université de Montpellier); Louis Aimé Fono (Faculté des Sciences [Douala] - Université de Douala) |
| Abstract: | In this paper, The generalized Mixed-Modified-Fractional-Merton like partial differential equation with multi-assets under mixed modified fractional geometric Brownian motion was derived. The multidimensional Mellin transform was applied to derive the integral equation for the price of the European put option on a bear spread basket of multi-assets. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03330043&r= |
| By: | Anne-Sophie Bruno (CHS - Centre d'histoire sociale des mondes contemporains - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Nathalie Greenan (TEPP - Travail, Emploi et Politiques Publiques - UPEM - Université Paris-Est Marne-la-Vallée - CNRS - Centre National de la Recherche Scientifique, CEET - Centre d'études de l'emploi et du travail - CNAM - Conservatoire National des Arts et Métiers [CNAM] - M.E.N.E.S.R. - Ministère de l'Education nationale, de l’Enseignement supérieur et de la Recherche - Ministère du Travail, de l'Emploi et de la Santé, LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM], CNAM - Conservatoire National des Arts et Métiers [CNAM]); Jeremy Tanguy (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc) |
| Abstract: | Gender equality at work has become in recent years a priority for governments. In France, collective bargaining is a main lever to achieve progress on gender equality issues. In a two-tier bargaining framework, industries and firms are required by law to negotiate on the reduction of gender inequalities. Using firm-level survey data on labor relations issues combined with administrative data, this paper seeks to better understand the dynamics of collective bargaining on gender equality at the firm level by questioning the role played by the gender mix. We find that gender diversity favors gender equality bargaining at the firm level. Under-representation and over-representation of women reduce the probability of firms negotiating an agreement on gender equality. The introduction of sanctions in the recent period has prompted low-feminized firms to negotiate more on gender equality but had little impact on highly feminized firms. |
| Keywords: | gender equality,collective bargaining,gender diversity |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03325842&r= |
| By: | François Courtoy (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)); Michel de Vroey (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)); Riccardo Turati (Universitat Autonoma de Barcelona) |
| Abstract: | This paper studies the way in which macroeconomics is taught at the undergraduate and graduate levels. Based on two sources of information, the world’s largest network of library content and services, the WorldCat data base, and a survey of the textbooks used for teaching at leading universities across the world, the paper provides an up-to-date description of macroeconomics teaching. Our results show a clear methodological divide: whereas IS-LM/AS-AD modeling is the theoretical core of undergraduate textbooks, graduate ones have the RBC model as their baseline model. |
| Keywords: | macroeconomics, textbooks, IS-LM/AS-AD, RBC |
| JEL: | A22 A23 E00 |
| URL: | http://d.repec.org/n?u=RePEc:ctl:louvir:2021023&r= |
| By: | Sascha Keil (Chemnitz University of Technology) |
| Abstract: | This paper sheds light on serious methodological difficulties of employing the empiric export equation in order to derive long-run trade elasticities. The unreliable estimated price coefficient (Kaldor Paradox) and the potential presence of cointegration are identified as the most relevant points. It can be shown that difficulties are in part due to methodological issues. New empirical evidence, encompassing eleven Euro area countries and the timespan 1995– 2019, has been obtained from different cointegration techniques. In seven out of eleven cases a robust long-run relationship can be detected and price elasticity was consistently found being significant and negative. |
| Keywords: | International trade, Competitiveness, Kaldor Paradox, Export equation, ARDL |
| JEL: | F14 C13 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:rtr:wpaper:0261&r= |
| By: | Carter, Andrew; Malcom, Jacob (Defenders of Wildlife); Harl, Heather |
| Abstract: | Under the U.S. Endangered Species Act, non-federal parties may be permitted to “take,” or harm, listed threatened and endangered species provided they develop an appropriate “habitat conservation plan” that details how the applicant will minimize and mitigate the impacts of their activities on the species at issue. Despite widespread use of such plans, with more than 700 approved to date, there have been few systematic analyses to determine their effectiveness in protecting imperiled wildlife. This has been driven by a lack of a centralized repository of essential habitat conservation plan documents, from the plans themselves to required monitoring reports. Here we present a new data resource of 6,290 documents related to 601 separate HCPs, assembled through a United States Freedom of Information Act request to the U.S. Fish & Wildlife Service, supplemented by web scraping of available HCP documents online. We describe the completeness of responses, characterize the scope of documents, and identify data and research gaps. |
| Date: | 2021–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:xvahr&r= |
| By: | Peter Skott (Department of Economics, University of Massachusetts Amherst); Paul Auerbach (Kingston University) |
| Abstract: | A vision of universalised human freedom, equality, security and democracy emerged in the wake of the Scientific Revolution and the Enlightenment, the British Industrial Revolution and the French Revolution. This vision, not even approximately practicable at the time, is now well within reach. A viable socialist strategy will not be oriented around an encompassing central plan, but rather an agenda of human-centered goals – the creation of preconditions for all individuals to fully realise their personal capacities and to function as free citizens, exercising control individually and collectively, at the workplace and in society. Central to the realisation of such a programme will be a focus on the crucial role played by the first years of life in shaping human development and in the formation of class hierarchies. |
| Keywords: | Phillips curve, underemployment, distributional conáict, structuralist model |
| JEL: | B51 H40 P16 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ums:papers:2021-15&r= |
| By: | Yunita, Refni; Susanto, Romi |
| Abstract: | The purpose of this study was to determine how credit management at PT. Bank Perkreditan Rakyat Batang Tarusan in the 2015-2019 period. The research method used is a qualitative method. The results of the discussion of the Activities of Business Loans at PT. Bank Perkreditan Rakyat Batang Tarusan in accordance with established procedures, starting from credit applications, credit application analysis, credit application surveys, credit analysis, loan cammites (decision makers), credit contracts, credit disbursement and credit supervision |
| Date: | 2021–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:2bws4&r= |
| By: | Adrián Rial (Universidad Complutense de Madrid) |
| Abstract: | This study examines the impact of the expansion of the service sector on labour productivity growth in eight developed economies, reaching back to the late 1970s. To that end, I develop a shift-share decomposition formula that satisfactorily integrates both Kaldorian and Baumolian effects. Firstly, my decomposition does not assume that productivity growth at the industry level is exogenous but rather incorporates the Verdoorn coefficients that I previously estimated using system GMM. Secondly, consistent with the Baumolian framework, my decomposition includes the impact that arises from the cumulative changes that take place in terms of the nominal value added and employment shares. My results show that, on average, tertiarisation only slows down productivity growth in three economies, where labour shifts away from industries with increasing returns. However, the cumulative reallocation of employment and nominal output leads to a gradual decrease in the productivity growth rate in seven of the eight economies. |
| Keywords: | Structural change; Kaldor–Verdoorn Law; Baumol’s disease; Labour productivity growth; Shift-share analysis |
| JEL: | E24 L16 O47 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:rtr:wpaper:0259&r= |
| By: | Lab, SDAG |
| Abstract: | Kinh tế Việt Nam: Thăng trầm và Đột phá |
| Date: | 2021–09–16 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:mhcs3&r= |
| By: | Emmanuel Kemel (GREGHEC, HEC Paris - Ecole des Hautes Etudes Commerciales, CNRS - Centre National de la Recherche Scientifique); Corina Paraschiv (LIRAES - EA 4470 - Laboratoire Interdisciplinaire de Recherche Appliquée en Economie de la Santé - UP - Université de Paris) |
| Abstract: | This paper presents an experiment that investigates differences of risk attitudes in decisions with immediate versus delayed consequences. Our experimental design allows to control for the effects of discounting and timing of risk resolution. We show that individuals are more risk tolerant in situations involving delayed consequences. Investigations based on rank-dependent utility show that this finding is mainly driven by probability weighting. More precisely, probability weighting is more elevated for delayed consequences, suggesting an overall increase in decision maker's optimism regarding the chances of success associated to risks for which consequences materialize in the future. |
| Keywords: | Risk Attitudes,Time,Rank Dependent Utility,Delay,Future Consequences D81,D90,C91 |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03330096&r= |
| By: | Alica Ida Bonk; Laure Simon |
| Abstract: | Men, especially those that are young and less educated, typically bear the brunt of recessions because of the stronger cyclicality of their employment and wages relative to women's. We study the extent to which fiscal policy may offset or worsen these asymmetric effects across gender. Using micro-level data for the U.S. from the Current Population Survey, we find that the effects of fiscal policy shocks on labor market outcomes depend on the type of public expenditure. Women benefit most from increases in the government wage bill, while men are the main beneficiaries of higher investment spending. Our analysis further reveals that the fiscal component most efficient at closing gender gaps is least suitable for offsetting inequitable business cycle effects across other socioeconomic dimensions |
| Keywords: | Business fluctuations and cycles; Fiscal policy; Labour markets |
| JEL: | E32 E62 J21 J16 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocawp:21-42&r= |
| By: | Maiorova, Ksenia; Fokin, Nikita |
| Abstract: | In this paper we consider a set of machine learning and econometrics models, namely: Elastic Net, Random Forest, XGBoost and SSVS as applied to nowcasting a large dataset of USD volumes of Russian exports and imports by commodity group. We use lags of the volumes of export and import commodity groups, prices for some imported and exported goods and other variables, due to which the curse of dimensionality becomes quite acute. The models we use are very popular and have proven themselves well in forecasting in the presence of the curse of dimensionality, when the number of model parameters exceeds the number of observations. The best model is the weighted model of machine learning methods, which outperforms the ARIMA benchmark model in nowcasting the volume of both exports and imports. In the case of the largest commodities groups, we often get a significantly more accurate nowcasts then ARIMA model, according to the Diebold-Mariano test. In addition, nowcasts turns out to be quite close to the historical forecasts of the Bank of Russia, being constructed in similar conditions. |
| Keywords: | наукастинг; внешняя торговля; проклятие размерности; машинное обучение; российская экономика |
| JEL: | C52 C53 C55 F17 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109557&r= |
| By: | Parmeter, Christopher F. (University of Miami); Simar, Léopold (Université catholique de Louvain, LIDAM/ISBA, Belgium); Van Keilegom, Ingrid (Université catholique de Louvain, LIDAM/ISBA, Belgium); Zelenyuk, Valentin (University of Queensland) |
| Abstract: | This paper is the first in the literature to discuss in detail how to conduct various types of inference in the stochastic frontier model when it is estimated using non-parametric methods. We discuss a general and versatile inferential technique that allows for a range of practical hypotheses of interest to be tested. We also discuss several challenges that currently exist in this framework in an effort to alert researchers to potential pitfalls. Namely, it appears that when one wishes to estimate a stochastic frontier in a fully non-parametric framework, separability between inputs and determinants of inefficiency is an essential ingredient for the correct empirical size of a test. We showcase the performance of the test with a variety of Monte Carlo simulations. |
| Keywords: | Stochastic Frontier Analysis, Efficiency, Productivity Analysis, Local-Polynomial Least- Squares |
| JEL: | C1 C14 C13 |
| Date: | 2021–09–09 |
| URL: | http://d.repec.org/n?u=RePEc:aiz:louvad:2021029&r= |
| By: | Susan Athey; Peter J. Bickel; Aiyou Chen; Guido W. Imbens; Michael Pollmann |
| Abstract: | We develop new semiparametric methods for estimating treatment effects. We focus on a setting where the outcome distributions may be thick tailed, where treatment effects are small, where sample sizes are large and where assignment is completely random. This setting is of particular interest in recent experimentation in tech companies. We propose using parametric models for the treatment effects, as opposed to parametric models for the full outcome distributions. This leads to semiparametric models for the outcome distributions. We derive the semiparametric efficiency bound for this setting, and propose efficient estimators. In the case with a constant treatment effect one of the proposed estimators has an interesting interpretation as a weighted average of quantile treatment effects, with the weights proportional to (minus) the second derivative of the log of the density of the potential outcomes. Our analysis also results in an extension of Huber's model and trimmed mean to include asymmetry and a simplified condition on linear combinations of order statistics, which may be of independent interest. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.02603&r= |
| By: | Isna, Rafika Nur |
| Abstract: | Mengetahui konsep-konsep dasar Ilmu Ekonomi |
| Date: | 2021–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:g8utv&r= |
| By: | Chimere O. Iheonu (Abuja, Nigeria); Ozoemena S. Nwodo (Coal City University, Enugu, Nigeria); Uchechi S. Anaduaka (University of Nigeria, Nsukka, Nigeria); Ugochinyere Ekpo (University of Nigeria, Nsukka, Nigeria) |
| Abstract: | This study examined the impact of income inequality on female labour force participation in West Africa for the period 2004 to 2016. The study employed the Gini coefficient, the Atkinson index and the Palma ratio as measures of income inequality. For robustness, the study also utilises female employment and female unemployment as measures of female labour force participation. The study employed the instrumental variable fixed effects model with Driscoll and Kraay standard errors to account for simultaneity/reverse causality, serial correlation, groupwise heteroskedasticity and cross-sectional dependence. The empirical results reveal that the three measures of income inequality significantly reduce the participation of women in the labour force in West Africa. The study also revealed that domestic credit, remittances and female education are positively associated with female labour force participation in the sub region. Further findings reveal that economic development reduces the participation of women in the labour force in West Africa with the U-shaped feminization theory not valid for the West African region. The study however revealed an inverted U-shaped relationship between inequality and female unemployment. Policy recommendations based on these findings are discussed. |
| Keywords: | Inequality, Female Labour, Instrumental Variable; Fixed Effects; West Africa |
| JEL: | C23 D31 J21 |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:aak:wpaper:20/008&r= |
| By: | David Lowing (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - Université de Lyon - CNRS - Centre National de la Recherche Scientifique, GRDF - Gaz Réseau Distribution France); Kevin Techer (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - Université de Lyon - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The search for a compromise between marginalism and egalitarianism has given rise to many discussions. In the context of cooperative games, this compromise can be understood as a trade-off between the Shapley value and the Equal division value. We investigate this compromise in the context of multi-choice games in which players have several activity levels. To do so, we propose new extensions of the Shapley value and of the Weighted Division values to multi-choice games. Contrary to the existing solution concepts for multi-choice games, each one of these values satisfies a core condition introduced by Grabisch and Xie (2007), namely Multi-Efficiency. We compromise between marginalism and egalitarianism by introducing the multi-choice Egalitarian Shapley values, computed as the convex combination of our extensions. To conduct this study, we introduce new axioms for multi-choice games. This allows us to provide an axiomatic foundation for each of these values. |
| Keywords: | Multi-choice games,Multi-choice Shapley value,Multi-choice Equal division value,Multi-choice Egalitarian Shapley values Multi-choice games,Multi-choice Egalitarian Shapley values |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03334056&r= |
| By: | Giulio Caldarelli |
| Abstract: | As known, blockchains are traditionally blind to the real world. This implies the reliance on third parties called oracles when extrinsic data is needed for smart contracts. However, reintroducing trust and single point of failure, oracles implementation is still controversial and debated. The blindness to the real world makes blockchains also unable to communicate with each other preventing any form of interoperability. An early approach to the interoperability issue is constituted by wrapped tokens, representing blockchain native tokens issued on a non-native blockchain. Similar to how oracles reintroduce trust, and single point of failure, the issuance of wrapped tokens involves third parties whose characteristics need to be considered when evaluating the advantages of crossing-chains. This paper provides an overview of the wrapped tokens and the main technologies implemented in their issuance. Advantages, as well as limitations, are also listed and discussed. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.06847&r= |
| By: | Angel De la Fuente |
| Abstract: | En este Documento de Trabajo se construyen series homogeneizadas de financiación regional a competencias homogéneas e igual esfuerzo fiscal desde el 2002 hasta el 2019. This Working Paper contains homogenized series of regional governments funding constructed on the basis of homogeneous competences at equal fiscal effort from 2002 to 2019. |
| Keywords: | spending, gasto, Collection, Recaudación, GDP, PIB, Liquidity, Liquidez, Regional financing, Financiación autonómica, Spain, España, Regional Analysis Spain, Análisis Regional España, Working Papers, Documento de Trabajo |
| JEL: | H71 H77 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:bbv:wpaper:2110&r= |