|
on Macroeconomics |
| By: | Camilla Lupiani |
| Abstract: | In view of the persistent zero lower bound, which has dominated the European financial landscape since December 2012, the European Central Bank (ECB) has implemented unconventional monetary policies. However, the effects of these unconventional policies have not been fully captured by the traditional reference rates, which have remained anchored at values close to or below the zero lower bound. In order to assess the impact of these measures in more detail, the concept of "shadow rates" was introduced. These shadow rates, often based on financial indicators, provide a more comprehensive view of the overall macroeconomic situation. The present study aims to compare the predictive accuracy of a Taylor rule based on shadow rates with that based on the reference rate, the €str, in an out-of-sample period. The results of this analysis highlight that a Taylor rule based on shadow rates offers a more accurate representation of the stance of the monetary policy, and is even used by monetary analysts to form expectations, especially when the central bank does not provide clear guidance. This study suggests that incorporating the shadow rate into the Taylor rule could provide valuable insights for guiding monetary policy and get a deeper understanding of the macroeconomic landscape. |
| Keywords: | central bank, ECB, interest rate, shadow rate, GMM, efficiency, zero lower bound, effective lower bound |
| JEL: | E02 E43 E52 E58 F01 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:baf:cbafwp:cbafwp24218&r=mac |
| By: | Marco Bernardini (Bank of Italy); Antonio M. Conti (Bank of Italy) |
| Abstract: | What is the overall impact of announcement and implementation effects of asset purchases on financial conditions? Existing research lacks a unified approach for answering this question. We fill this gap by estimating a VAR model based on two pillars: a unique daily dataset covering ECB's asset purchases over the period 2014-2021 and a novel identification strategy combining survey-based external instruments and narrative sign restrictions. The findings underscore the relevance of both purchase announcements and actual purchases in influencing bond yields and stock prices. Neglecting how purchases are actually implemented may severely distort the assessment of their effectiveness. |
| Keywords: | monetary policy, asset purchases, stock effects, and flow effects, high-frequency, VAR. |
| JEL: | E52 E58 E44 C32 C54 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:wptemi:td_1435_23&r=mac |
| By: | Lin, Alessandro; Peruffo, Marcel |
| Abstract: | We propose a novel methodology for solving Heterogeneous Agents New Keynesian (HANK) models with aggregate uncertainty and the Zero Lower Bound (ZLB) on nominal interest rates. Our efficient solution strategy combines the sequence-state Jacobian methodology in Auclert et al. (2021) with a tractable structure for aggregate uncertainty by means of a two-regimes shock structure. We apply the method to a simple HANK model to show that: 1) in the presence of aggregate non-linearities such as the ZLB, a dichotomy emerges between the aggregate impulse responses under aggregate uncertainty against the deterministic case; 2) aggregate uncertainty amplifies downturns at the ZLB, and household heterogeneity increases the strength of this amplification; 3) the effects of forward guidance are stronger when there is aggregate uncertainty. JEL Classification: D14, E44, E52, E58 |
| Keywords: | computational methods, liquidity traps, monetary policy, new-Keynesian models, zero lower bound |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20242911&r=mac |
| By: | Yu Awaya; Kohei Iwasaki; Makoto Watanabe |
| Abstract: | This paper examines how monetary expansion causes asset bubbles. When there is no monetary expansion, a bubbly asset is not created due to a hold-up problem. Monetary expansion increases buyers’ money holdings, and then, dealers are willing to buy a worthless asset from sellers, in hopes of selling it to buyers who may not know that it is worthless—a bubble now occurs. |
| Keywords: | bubbles, dealers, higher-order uncertainty, money |
| JEL: | D82 D83 D84 E44 E52 G12 G14 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10923&r=mac |
| By: | Anna Bartocci (Bank of Italy); Alessandro Cantelmo (Bank of Italy); Alessandro Notarpietro (Bank of Italy); Massimiliano Pisani (Bank of Italy) |
| Abstract: | We evaluate the 'robust' monetary policy rate tightening in response to a stagflationary shock of uncertain magnitude using a medium-scale New Keynesian model. Under uncertainty, the tightening should generally be milder than under no uncertainty in order to 'perform well' in different states of the world. The results hold true especially when financial tensions materialize under an excessive tightening of monetary policy. On the contrary, if the policy response to large stagflationary shocks is perceived as insufficient in a context of high inflation persistence, then the tightening of monetary policy should be as strong as in the case of no uncertainty. |
| Keywords: | monetary policy, uncertainty, robustness, minimax, bayesian decision making. |
| JEL: | E52 E58 E61 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:wptemi:td_1433_23&r=mac |
| By: | Adolfsen, Jakob Feveile; Ferrari Minesso, Massimo; Mork, Jente Esther; Van Robays, Ine |
| Abstract: | This paper develops a Bayesian VAR model to identify three structural shocks driving the European gas market: demand, supply and inventory shocks. We document how gas price fluctuations have a heterogeneous pass-through to euro area prices depending on the underlying shock driving them. The pass-through is stronger and more persistent when gas prices are driven by aggregate demand or supply pressures, while inventory shocks have a weaker impact. Supply shocks, moreover, are found to pass through to all components of euro area inflation – producer prices, wages and core inflation, which has implications for monetary policy. We finally document how the response of gas prices to shocks is non-linear and is significantly magnified in periods of low unemployment. JEL Classification: C50, C54, E30, E31, Q43 |
| Keywords: | euro area, gas price, pass-through, price |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20242905&r=mac |
| By: | Koski, Heli; Pajarinen, Mika; Rouvinen, Petri |
| Abstract: | Abstract Investment is an expenditure from which future returns are expected. The portion of past investments that retains potential for future returns is referred to as capital. If capital can be touched, it is tangible; otherwise, it is intangible. Brands and patents are examples of intangible capital. For decades, Finland has been making more investments in intangible rather than tangible productive assets. However, due to the different accumulation and obsolescence of the two capital types, Finland’s productive capital stock is still predominantly tangible. Finland and Germany are similar in terms of intangible capital. In contrast, Sweden invests significantly more in intangible capital than Finland and also utilizes these investments more efficiently. Finland’s intangible capital (per hour worked) is only two-thirds of that in Sweden. The capital related to software, databases, and data in Sweden is four times greater than in Finland. |
| Keywords: | Intangible capital, Business investment, Labor productivity, National accounts |
| JEL: | D24 E22 O30 O47 |
| Date: | 2024–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:rif:briefs:133&r=mac |
| By: | Trezzini, Attilio; Salvati, Luigi |
| Abstract: | Kaleckian models can be considered as the most relevant set of theoretical works which study growth as a demand-led phenomenon. In these models, the pace of accumulation depends on demand expansion and on different measures of capital profitability. The relevance of the latter is generally assumed without any in-depth scrutiny of theoretical principles. This article identifies the theoretical underpinnings of this alleged dependence and reconsiders and develops the criticisms of them which can be found in the literature. This analysis leads to argue that this fundamental assumption of the Kaleckian models is not sufficiently argued as much as its cruciality would require. |
| Keywords: | Investment-profit relation; Kaleckian models; Demand-led growth |
| JEL: | E11 E22 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120163&r=mac |
| By: | Borys Grochulski; Zhu Wang |
| Abstract: | We construct a model of home search and buying in the U.S. housing market and evaluate the commission paid to homebuyers' agents. In the model, as in reality, homebuyers enjoy free house showings without having to pay their agents out of pocket. Buyers' agents receive a commission equal to 3% of the house price only after a home is purchased. We show this compensation structure deviates from cost basis and may lead to elevated home prices, overused agent services, and prolonged home searches. Based on the model, we discuss policy interventions that may improve housing search efficiency and social welfare. |
| Keywords: | Search and matching; Housing market; Real estate commission |
| JEL: | D4 L1 L8 R3 |
| Date: | 2024–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedrwp:97893&r=mac |
| By: | Miller, Noah; Giri, Anil K.; Subedi, Dipak; Williams, Ryan |
| Abstract: | The first round of the Coronavirus Food Assistance Program (CFAP 1) provided payments to agricultural producers adversely affected by marketing losses caused by the Coronavirus (COVID-19) pandemic. Since the only producers eligible to receive a CFAP 1 payment were those who held unpriced inventory, ERS researchers examined the level of unpriced inventory held post-harvest 2019. Administrative USDA, Farm Service Agency (FSA) data on CFAP 1 applications and payments, and farm-level data on unpriced inventory were drawn from the 2019 Phase 3 Agricultural Resource Management Survey (ARMS) to understand unpriced inventory held and CFAP 1 payments distributed to agricultural producers. For the majority of producers, significant levels of inventory existed post-harvest 2019. Since payments were made on the lower of 50 percent of production or the level of unpriced inventory, the majority of payments were made on production levels, from 58 percent of upland cotton payments to 81 percent of spring wheat payments. ERS researchers also analyzed the degree to which commodity-specific CFAP 1 rates reflected changes in county-average cash prices between January and April 2020 for corn, soybeans, and spring wheat. The share of counties in which the CFAP 1 rate exceeded 52.5 percent of the decline in cash prices ranged between 49.0 percent for corn and 99.9 percent for spring wheat. |
| Keywords: | Agricultural and Food Policy, Agricultural Finance, Crop Production/Industries, Demand and Price Analysis, Marketing, Public Economics |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:ags:uersap:340102&r=mac |
| By: | Michele Cascarano (Bank of Italy); Filippo Natoli (Bank of Italy); Andrea Petrella (Bank of Italy) |
| Abstract: | Climate change has long-term effects on the size and composition of a country's business sector. Using administrative data on the universe of Italian firms, we find that an increase in the number of very hot days per year persistently reduces the growth rate of active firms in the market in the medium run. This is due to a drop in firm entry and an increase in firm exit, with relocation playing a minor role. A firm-level investigation reveals a dichotomy between firms that persistently suffer as a result of higher temperatures and those that improve their profitability by adapting to a hotter climate: a combination of size and age best identifies the two groups, where older, smaller-sized firms lie at one extreme and younger, larger firms at the other. According to an average climate scenario, the projected evolution of local temperatures will impact firm demography further, also exacerbating the divergent effects across warmer and colder areas over the current decade. |
| Keywords: | climate change, temperatures, firm dynamics |
| JEL: | D22 R12 Q54 |
| Date: | 2023–07 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:wptemi:td_1418_23&r=mac |
| By: | Patricia Cortés; Jacob French; Jessica Pan; Basit Zafar |
| Abstract: | We assess the role of information gaps in understanding gender differences in negotiation behavior by conducting a randomized information experiment on the 2018 to 2020 graduating cohorts of undergraduate business majors from Boston University. Prior to starting their job search, treated students were provided with objective information about the gender gap in negotiation among their peers along with the earnings changes conditional on negotiating. We find sizable immediate effects on negotiation intentions that persist to actual negotiation behavior, particularly for men. While the treatment affects women's negotiation behavior through belief-updating, the effects on men's behavior are primarily through increased salience of the information. Further, we find some evidence that gender-specific treatment spillovers likely contribute to the smaller average treatment effects on behavior for women. Overall, our findings suggest that such information interventions can help to nudge women who have potentially large financial returns to negotiation to realize these gains. |
| JEL: | J16 J31 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32154&r=mac |
| By: | Alberto Cavallo; Francesco Lippi; Ken Miyahara |
| Abstract: | We leverage the inflation upswing of 2022 and various granular data sets to identify robust price setting patterns following a large supply shock. We show that the frequency of price changes increases dramatically after a large shock. We setup a parsimonious New Keynesian model and calibrate it to fit the steady state data before the shock. The model features a significant component of state-dependent decisions, implying that large cost shocks incite firms to react more swiftly than usual, resulting in a rapid pass-through to prices—large shocks travel fast. Understanding this feature is crucial for interpreting recent inflation dynamics. |
| Keywords: | sticky prices, supply shocks, passthrough, generalized hazard function |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:apc:wpaper:198&r=mac |
| By: | Salant, Stephen (Resources for the Future) |
| Abstract: | When a firm sells the same good in two markets at different prices but virtually no one in the high-price market purchases in the low-price market, the absence of arbitrage is typically attributed to exogenous “blockades, ” never to deliberate “arbitrage deterrence.” Such deterrence may involve not only limit-pricing but also spending to raise the consumers’ cost of arbitrage. I present examples of arbitrage deterrence from three industries: pharmaceuticals, chemicals, and automobiles. Motivated by these three examples, I generalize the standard model of third-degree price discrimination to encompass both blockaded and deterred arbitrage. I also develop a model where the lower of the two prices is negotiated as is done by foreign governments in the case of prescription drugs. In both models, if the government raises the firm’s marginal cost of deterring arbitrage, the higher price will fall and the lower one will rise but the firm will continue to deter arbitrage. In the bargaining model, if the absence of arbitrage is mistakenly attributed to exogenous factors when in fact it is the result of deliberate deterrence, econometric estimates of the firm’s bargaining power will be biased upwards. |
| Date: | 2024–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:rff:dpaper:dp-24-03&r=mac |
| By: | Preuß, Sabine; Kunze, Robert; Scherrer, Aline; Zwirnmann, Jakob; Rummel, Alexandra |
| Abstract: | Plug-in electric vehicles (PEV) are widely considered a promising option to reduce greenhouse gas (GHG) emissions in transport. The electricity used for charging is decisive for the environmental assessment of PEV. Most studies assume the average grid mix for charging. A study in 2021 showed that the share of renewables in charging electricity of PEV in Europe was above the grid mix. The present study provides an update of this study to further refine the database and to compare the results from 2021 and 2023. In addition, small methodological adjustments were implemented to improve the estimate of renewable electricity in PEV charging across Europe. Therefore, this article presents results of an extensive survey with over 3, 400 PEV users in 13 countries across the EU. Results reveal that PEV users still charge their PEV mostly at home. However, the share of renewable charging tariffs for home charging decreased compared to the results from 2021. When considering all charging locations (home, work and public charging), the respective share of renewable contracted electricity, and the number of PEV per EU country, the share of renewables in the charging electricity of PEV has further increased and is still above the European grid mix (i.e., balanced total supplier mix). We discuss reasons for this finding by outlining differences between the results of the study from 2021 and the present one. |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisisi:283599&r=mac |
| By: | Heizler (Cohen), Odelia (Academic College of Tel-Aviv Yaffo); Israeli, Osnat (Ashkelon College) |
| Abstract: | Dramatic events can evoke feelings of compassion, fear, or threat, and can affect public opinion regarding controversial issues. Such an event was the drowning of 3-year-old Alan Kurdi, a Syrian boy whose body washed up on a Turkish shore, and was photographed, producing an iconic image that was seen worldwide. The image evoked empathy and compassion that neuroscience and psychological research associate with a motivation to help. This paper examines the impact of this event on four different aspects of attitudes toward immigration, some of which are more closely linked to pro-social behavior than others. The timing of the European Social Survey in Portugal allowed us to use this tragic event as a natural experiment. Our results show that Kurdi's drowning had a significant effect on emotion-related sentiments, but no such impact was detected on other attitudes. The results suggest that the event did not change the respondents' opinion regarding the possible negative consequences of immigration on the host country's economy, crime level, or culture, nor did it change their perception of the skills required by immigrants. On the other hand, the empathy induced by the tragic event increased their willingness to have a less restrictive immigration policy and their openness to having close social relationships with immigrants. |
| Keywords: | European Social Survey, anti-immigration attitudes, natural experiment, social distance, threat perceptions |
| JEL: | F22 J15 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16802&r=mac |
| By: | Dickinson, David L. (Appalachian State University); Drummond, Sean P.A. (Monash University) |
| Abstract: | Story telling is part of life, and the retelling of stories is an important form of communication, cultural practice, and message transmission. Insufficient sleep is known to affect relevant cognitive skill areas necessary for story retelling or transmission fidelity. We conducted a preregistered study on n=118 young adults who were administered a week each of restricted and well-rested sleep levels in their home environment (37 additional control participants were well-rested both treatment weeks). A serial story reproduction task was administered online, and the content of story retells was examined regarding the preservation of characters, details, and the key story event. Chains of up to 3 retells of a given story were examined, which involved varied numbers of sleep restricted (SR) versus well-rested (WR) retellers. While all retells of a story showed an average decay in content, results show that additional SR retellers in a chain was associated with greater decay, which mostly resulted from the introduction of an initial SR reteller at the beginning of the chain. Supporting the group-level effect, individual-level analysis confirmed that both the number of details and the story's key event were significantly less preserved after the SR compared to WR treatment week. Exploratory analysis showed an attenuation of this effect in those who reported a higher level of affective response (interest or surprise) in the story. This suggests that emotional engagement is important in combatting the deleterious effects of SR on successful story retelling, and perhaps on other types of content recollection. |
| Keywords: | sleep restriction, cognition, communication, information transmission |
| JEL: | C91 D90 D83 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16797&r=mac |
| By: | Stauskas, Ovidijus; De Vos, Ignace |
| Abstract: | The Common Correlated Effects (CCE) estimator is a popular method to estimate panel data regression models with interactive effects. Due to its simplicity in approximating the common factors with cross-section averages of the observables, it lends itself to a wide range of applications. They include static and dynamic models, homogeneous or heterogeneous coefficients or possibly very general types of factor structure. Despite such flexibility, with very few exceptions, CCE properties are usually examined under a restrictive assumption that all the observed variables load on the same set factors, which ensures joint identification of the factor space. In this paper, we explore an empirically relevant scenario when the dependent and explanatory variables are driven by distinct but correlated factors. In doing this, we consider panel dimensions such that T/N is finite even in large samples, which is known to induce an asymptotic bias in CCE setting. We subsequently develop a toolbox to perform asymptotically valid inference in homogeneous and heterogeneous panels. |
| Keywords: | Panel data, bootstrap, interactive effects, CCE, factors, information criterion |
| JEL: | C15 C33 C38 |
| Date: | 2024–02–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120194&r=mac |
| By: | Ozili, Peterson K |
| Abstract: | The literature has not extensively examined the dangers of digital-only financial inclusion. The purpose of this chapter is to highlight the dangers of digital-only financial inclusion (DOFI). Using the discourse analysis method, the study showed that digital-only financial inclusion may be difficult to achieve when there is uneven availability and uneven access to digital devices. It was also argued that digital-only financial inclusion could lead to high cost of internet broadband, and it places much emphasis on accelerating digital access rather than protecting users who use digital finance platforms. Furthermore, it pays little attention to risk mitigation, and produces digital ID schemes that enable government surveillance. It also prioritizes digital access rather than financial health; and makes it easier to perpetrate fraud using digital means. Finally, it can enable the endless pursuit of power, and it prioritizes a digital version of financial inclusion at any cost. As much as possible, the strategies used to advance financial inclusion should not be too dependent on digital technologies because they only offer digital access and more access but may not improve the financial health of users in a significant way. |
| Keywords: | digital-only financial inclusion, digital financial inclusion, financial inclusion. |
| JEL: | G00 G20 I31 I38 I39 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120152&r=mac |
| By: | Kamin, Katrin; Langhammer, Rolf J. |
| Abstract: | The global economic landscape is undergoing a transformative shift, as evidenced by the BRICS nations’ increasing dominance. This development raises questions about the emergence of economic and political blocks and their potential leverage. China and India, as the world’s most populous nations within the group, are instrumental in driving global economic demand. The expansion of BRICS, with new members possessing vast natural resources, amplifies the group’s influence. However, the BRICS face a monetary and financial Achilles heel, especially in the case of China, hindering their ability to act independently. As the BRICS gain geopolitical significance, the G7 responds with infrastructure initiatives and trade agreements, though success hinges on reciprocal concessions. The BRICS thus serve as a wake-up call for the G7, prompting considerations of rejuvenating political and economic links amidst a shifting global landscape. |
| Keywords: | BRICS+, global order, International Trade, strategic resources, Monetary Policy |
| JEL: | F02 F15 F36 F40 F59 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:281985&r=mac |
| By: | Mingyang Li; Han Pengsihua; Fujiao Meng; Zejun Wang; Weian Liu |
| Abstract: | This academic paper examines the strategic interactions between Japan, other nations, and the International Atomic Energy Agency (IAEA) regarding Japan's decision to release treated nuclear wastewater from the Fukushima Daiichi Nuclear Power Plant into the sea. It introduces a payoff matrix and time-delay elements in replicator dynamic equations to mirror real-world decision-making delays. The paper analyzes the stability of strategies and conditions for different stable states using characteristic roots of a linearized system and numerical simulations. It concludes that time delays significantly affect decision-making stability and evolution trajectories in nuclear wastewater disposal strategies. The study highlights the importance of efficient wastewater treatment technology, the impact of export tax revenue losses on Japan's strategies, and the role of international cooperation. The novelty of the research lies in integrating time-delay elements from ocean dynamics and governmental decision-making into the game-theoretical model. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.07227&r=mac |
| By: | Goranka Stanicst (School of Art and Design, Croatia); Sandra Bacic (School of Art and Design, Croatia); Branka Kozuh (School of Art and Design, Croatia) |
| Abstract: | We are witnessing the development and opening of an increasing number of art schools and colleges. The curriculum covered by these organizations is versatile and comprehensive encompassing various emerging branches. However, a fundamental question arises: can inspired works of art be created when they are dictated by market demands and order, and to what extent mediocrity and kitsch are involved in such a process? Commercialism, pop, and marketing are susceptible areas when we talk about creation. The pandemic and the lockdown provided a unique opportunity to think, envision the future, and express our ideas. Art in the field of the market is looking for its place. Education needs to be directed and distracted from the automatic repetition of facts by increasing the level of "general culture" and encouraging pupils and students to focus on problem-solving so that they can use all available materials and resources. This kind of education enables the development of innovation rather than the complete repetition of facts. Nowadays, various media platforms and libraries inundate society with ideas and information. Progressing personally and contributing to society requires hard work. History represents the past, while homology teaches us how to upgrade and shape knowledge, but if we get stuck learning, we risk perpetuating old patterns through imitation. Therefore, it is crucial to look ahead, address problems and facilitate the enrichment of humanity's collective experience while upholding ethical principles and moral imperatives. This article emphasizes that art has a special place in this dynamic world. |
| Keywords: | art, product, marketing, education, innovation, creativity |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0279&r=mac |
| By: | Sergiu Ghica (University of Bucharest, Romania) |
| Abstract: | This paper presents William Lane Craig as a proponent of classical apologetics and explores his influence on the content and structure of contemporary discussions. These dialogues encompass a wide spectrum, ranging from historical studies of Jesus and His resurrection to cosmological and moral evidence of God's existence, as well as the coherence of Christian theism. In the last part of this paper, we will highlight Craig's notable contribution to the contemporary field of apologetics. |
| Keywords: | classical apologetics, Christian faith, evidence, truth, kalÄ m cosmological argument |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0315&r=mac |
| By: | Amelie Villeger (IRGO - Institut de Recherche en Gestion des Organisations - UB - Université de Bordeaux - Institut d'Administration des Entreprises (IAE) - Bordeaux) |
| Abstract: | By mobilizing the theoretical field of decision-making and the empirical study of 15 cases, this article highlights and analyzes the recurrence of conjugal interactions leading to the decision to undertake as a couple. The results show that the spouse who initiates the project becomes the ‘leader', while the other positions himself, more or less voluntarily, as a ‘follower'. This decision-making configuration induces a renunciation on the part of the follower, a follower who remains, still today, overwhelmingly the woman. The discussion considers the potential impact of this specific decision-making process on the future governance of the company, in terms of the distribution of roles and powers, the satisfaction of spouses, but also the choice of partner. The movement of the reflexive cursor in a period prior to the copreneurial installation enriches the field of research, almost unexplored, of the decision to undertake as a couple, opens the way to the study of problems of copreneurship through the innovative prism of events that have occurred before its implementation and offers practitioners new keys to understanding the complex dynamics within which they evolve. © 2023 Villéger. |
| Keywords: | Family business, Decision, Copreneurs, Entrepreneurship, Couple, Leader, Follower |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04429515&r=mac |
| By: | Moustafa Hamil (University of Kasdi Merbah Ouargla, Algeria) |
| Abstract: | This paper explores the competition between China and Taiwan in the semiconductor industry. It discusses the current state of the industry in both countries, their competitive advantages, and the strategies employed to gain an edge. The research also examines the global implications of this competition, the key factors shaping the rivalry, and possible avenues for cooperation to enhance the semiconductor industry's competitiveness and efficiency. The relationship between China and Taiwan is experiencing intense competition over the electronics sector, including semiconductors and electronic chips. Taiwan plays a significant role in the high-tech and electronics industry, which makes it a target of China's economic and technological hegemony strategies. China seeks to achieve superiority in these industries and gain control over the global supply chain, which gives it great strategic power. Its policy is to try to increase its influence on Taiwan, both by diplomatic pressure and by constant military threats. China seeks to achieve "national unity" and restore Taiwan under its control. This geopolitical escalation is increasing simultaneously with the rivalry between China and the USA. The United States stands by Taiwan through its political and military support, which further aggravates the tension between the two states. This competitiveness manifests itself in multiple areas, including technology, security and economics. In short, the conflict between China and Taiwan over semiconductors and electronic chips reflects the rising geopolitical tensions in the region, with the overlap of economic, political and technological factors, the ongoing rivalry between China and the United States further complicates the scene. |
| Keywords: | China, Taiwan, semiconductor, competition, challenges |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0316&r=mac |
| By: | Cavicchioli, Martina; Kramer, Berber; Trachtman, Carly |
| Abstract: | This issue brief introduces a conceptual framework to describe the factors that inform farmers’ varietal uptake choices, by integrating choice behavior alongside more contextual and technical aspects of seed uptake. The framework was developed to support qualitative data analysis for generating behavioral intelligence about farmers’ decision-making about crop varieties, which may be of use to government agencies, nongovernmental organizations, and companies that operate in the seed sector. |
| Keywords: | plant breeding; smallholders; climate change adaptation; food security |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:issbrf:138050&r=mac |
| By: | Florentino Felgueroso (coordinador); Rafael Doménech (coordinador); Alfonso Arellano; Juan Ramón García; Marcel Jansen; Analía Viola |
| Abstract: | En esta nueva edición del OTMT, analizamos la evolución del mercado de trabajo con la información disponible hasta el cuarto trimestre de 2023. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdafen:2024-09&r=mac |