|
on Macroeconomics |
| By: | Fang, Lei (Federal Reserve Bank of Atlanta); Hannusch, Anne (University of Bonn); Silos, Pedro (Temple University) |
| Abstract: | We study consumption and welfare inequality by analyzing how households allocate resources—market expenditures and the value of time—to the production of activities. The share of resources allocated to an activity rises or falls with wages, classifying them into luxuries or necessities, respectively. An estimated model with non-homothetic preferences shows that the rise in consumption inequality between 2004 and 2019 was mostly due to an increase in wage dispersion, while rising prices, especially of leisure luxuries, had a significant negative effect on inequality. The distinction between luxuries and necessities amplifies the counteracting effects of wage and price on inequality. |
| Keywords: | time allocation, consumption expenditures, luxuries, necessities, activity production, inequality |
| JEL: | J22 E21 D11 |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17664 |
| By: | Ndzinisa, Patrick |
| Abstract: | The study examines how financial development affects the effectiveness of monetary policy in influencing output and inflation in South Africa, through its interaction with the repo rate. Monetary policy effectiveness in this relationship is measured by the responsiveness of output and inflation to an interaction-term between a financial development indicator and the repo rate.This is carried out by estimating an output and inflation equations incorporating the interaction-term as an explanatory variable in each of theoutput and inflation equations. If the coefficient of the interaction-terms is negative and significant it implies that the effectiveness of monetary policy in influencing output and inflation is enhanced. On the other hand, a positive and significant coefficient of the interaction-terms means that the interaction of the financial development with the repo rate dampens monetary policy effectiveness in influencing output and inflation. Considering the adoption of an Inflation Targeting Framework (ITF) monetary policy framework in 2000, the study further examines how the regime shift has affected the effectiveness of monetary policy in South Africa. The study employs an Autoregressive Distributed Lag (ARDL) model to analyse the data for long-run co integration and an Error Correction Model (ECM) to test for a short-run relationship. Additionally, the study uses a structural VAR to assess how long it takes for the interaction-terms to have full impact on output and inflation. The study concludes that the effect of monetary policy on output and inflation is enhanced through the interaction of the bank-based financial development indicator with the repo rate in South Africa. It also concludes that it takes about three quarters and four quarters for the bank-based interaction-term to have full impact on output and inflation respectively, which is quicker than it takes for the repo rate individually to have full impact on these variables. The study also finds that after the adoption of the ITF, the repo rate managed to restrain inflation to be within the targeted band at the expense of output. The study recommends that the South African Reserve Rank (SARB) should consider the bank-based financial development indicator when formulating its monetary policy. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:aer:wpaper:12656e95-0ea3-4a03-b89f-307848cd5f7f |
| By: | Georgarakos, Dimitris (European Central Bank); Kim, Kwang Hwan (Yonsei University); Coibion, Olivier (University of Texas at Austin); Shim, Myungkyu (Yonsei University); Lee, Myunghwan Andrew (New York University); Gorodnichenko, Yuriy (University of California, Berkeley); Kenny, Geoff (European Central Bank); Han, Seowoo (Yonsei University); Weber, Michael (World Bank) |
| Abstract: | Using surveys of households across thirteen countries, we study how much individuals would be willing to pay to eliminate business cycles. These direct estimates are much higher than traditional measures following Lucas (2003): on average, households would be prepared to sacrifice around 5-6% of their lifetime consumption to eliminate business cycle fluctuations. A similar result holds for inflation: to bring inflation to their desired rate, individuals would be willing to sacrifice around 5% of their consumption. Willingness to pay to eliminate business cycles and inflation is generally higher for those whose consumption is more pro-cyclical, those who are more uncertain about the economic outlook, and those who live in countries with greater historical volatility. |
| Keywords: | cost of business cycles, willingness to pay, inflation |
| JEL: | E3 E4 E5 |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17675 |
| By: | Brunckhorst, Ben James; Cojocaru, Alexandru; Hill, Ruth; Kim, Yeon Soo; Kugler, Maurice David |
| Abstract: | This paper examines the welfare impacts of the COVID-19 pandemic, using harmonized data from 343 high-frequency phone surveys conducted in 80 economies during 2020 and 2021, representing more than 2.5 billion people. The analysis focuses on the scarring effects of the initial losses of employment and income by examining their evolution over time across and within countries, as restrictions on mobility and economic activity were introduced and then gradually relaxed. The employment and welfare outcomes of some groups that were impacted to a greater degree initially—including women, informal workers, and those with less education—have been improving at a slower pace. The social protection response in lower-income economies was largely insufficient to protect households from the pandemic shock. Unmitigated welfare losses, as seen for example from the large share of households indicating income losses well into 2021, are highly correlated with food insecurity, which likely led some households to sell physical assets and deplete their savings. Without proper remediation, the uneven welfare impacts associated with COVID-19 may be amplified over the medium to long term, leading to future increases in poverty and inequality. |
| Date: | 2023–02–07 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:10300 |
| By: | Yaya, Aminou |
| Abstract: | This paper's objective is to analyse the role of fiscal policies and the exchange rate regime in the effect of terms of trade shocks on growth volatility in SSA. To achieve this objective, we use an estimation technique based on instrumental variables (2SLS) for a sample of 44 sub-Saharan African countries covering the period spanning 1980 to 2020. The results show that terms of trade shocks as well as discretionary policy contribute to growth volatility in sub-Saharan Africa. However, fiscal rules reduce the effects of terms of trade shocks and discretionary policy volatility on growth volatility. Furthermore, exchange rate regime fixity tends to positively affect growth volatility. This result implies the need for sub-Sahara African countries to consider fiscal policies, and the nature of the exchange rate regime in their resilience and volatility reduction strategy. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:aer:wpaper:9c842ab2-4340-4e28-93c0-607d12e69a60 |
| By: | World Bank |
| Keywords: | Environment-Forests and Forestry Macroeconomics and Economic Growth-Fiscal & Monetary Policy |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42319 |
| By: | World Bank |
| Keywords: | Macroeconomics and Economic Growth-Economic Growth Macroeconomics and Economic Growth-Fiscal & Monetary Policy Macroeconomics and Economic Growth-Markets and Market Access |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42407 |
| By: | Tuhin G M Al Mamun |
| Abstract: | This study investigates the effectiveness of fiscal policies on household consumption, disposable income, and the propensity to consume during the COVID-19 pandemic across Croatia, Slovakia, and Poland. The purpose is to assess how variations in government debt, expenditures, revenue, and subsidies influenced household financial behaviors in response to economic shocks. Using a Markov Switching VAR model across three regimes: initial impact, peak crisis, and recovery.This analysis captures changes in household consumption, disposable income, and consumption propensities under different fiscal policy measures. The findings reveal that the Slovak Republic exhibited the highest fiscal effectiveness, demonstrating effective government policies that stimulated consumer spending and supported household income during the pandemic. Croatia also showed positive outcomes, particularly in terms of income, although rising government debt posed challenges to overall effectiveness. Conversely, Poland faced significant obstacles, with its fiscal measures leading to lower consumption and income outcomes, indicating limited policy efficacy. Conclusions emphasize the importance of tailored fiscal measures, as their effectiveness varied across countries and economic contexts. Recommendations include reinforcing consumption-supportive policies, particularly during crisis periods, to stabilize income and consumption expectations. This study underscores the significance of targeted fiscal actions in promoting household resilience and economic stability, as exemplified by the successful approach taken by the Slovak Republic. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.14041 |
| By: | Jo\"el Terschuur |
| Abstract: | Policy makers need to decide whether to treat or not to treat heterogeneous individuals. The optimal treatment choice depends on the welfare function that the policy maker has in mind and it is referred to as the policy learning problem. I study a general setting for policy learning with semiparametric Social Welfare Functions (SWFs) that can be estimated by locally robust/orthogonal moments based on U-statistics. This rich class of SWFs substantially expands the setting in Athey and Wager (2021) and accommodates a wider range of distributional preferences. Three main applications of the general theory motivate the paper: (i) Inequality aware SWFs, (ii) Inequality of Opportunity aware SWFs and (iii) Intergenerational Mobility SWFs. I use the Panel Study of Income Dynamics (PSID) to assess the effect of attending preschool on adult earnings and estimate optimal policy rules based on parental years of education and parental income. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.13868 |
| By: | World Bank |
| Keywords: | Macroeconomics and Economic Growth-Economic Growth |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42264 |
| By: | International Finance Corporation |
| Keywords: | Gender-Gender and Economics Macroeconomics and Economic Growth-Economic Investment & Savings |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42170 |
| By: | Bastien Baude; Damien Challet; Ioane Muni Toke |
| Abstract: | Decentralized lending protocols within the decentralized finance ecosystem enable the lending and borrowing of crypto-assets without relying on traditional intermediaries. Interest rates in these protocols are set algorithmically and fluctuate according to the supply and demand for liquidity. In this study, we propose an agent-based model tailored to a decentralized lending protocol and determine the optimal interest rate model. When the responses of the agents are linear with respect to the interest rate, the optimal solution is derived from a system of Riccati-type ODEs. For nonlinear behaviors, we propose a Monte-Carlo estimator, coupled with deep learning techniques, to approximate the optimal solution. Finally, after calibrating the model using block-by-block data, we conduct a risk-adjusted profit and loss analysis of the liquidity pool under industry-standard interest rate models and benchmark them against the optimal interest rate model. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.19862 |
| By: | DEFFO, Rodrigue NDA'CHI; TCHOUMDOP, Michele Estelle NDONOU; KAMGA, Benjamin FOMBA |
| Abstract: | Due to interruptions and closures of activities resulting from social distancing measures implemented to limit the spread of the virus, individuals have seen their incomes reduced, increasing poverty and pre-crisis inequalities. These inequalities have been exacerbated by measures such as the increase in family allowances, which only benefit civil servants. The objective of this study is to analyse the contribution of the activity situation due to COVID-19 to household income inequalities in Cameroon. The data used are those collected from 604 households by CEREG as part of an IDRC-funded study on the impact of public policies related to the COVID-19 pandemic in Burkina Faso, Cameroon, Cote d'Ivoire and Senegal. The Gini and Theil inequality indices show increased income inequality in households where the head is not employed. The conditional quantile regression shows that employment status has a significant and higher effect during severe restrictions on the incomes of typical households in the 25th, 50th, 75th, and 90th percentiles. On the other hand, this increased the distribution of income inequalities within households in the first three quartiles, more than 70% of which can be explained by the change in behaviour resulting from the loss of employment by the heads of household. This result is confirmed by the fact that the share of employment in the formation of income inequalities fell during severe restrictions, according to the Shapley decomposition. |
| Date: | 2024–08–12 |
| URL: | https://d.repec.org/n?u=RePEc:aer:wpaper:5ad62167-5823-4f5c-89dd-182497a2e055 |
| By: | World Bank |
| Keywords: | Macroeconomics and Economic Growth-Economic Growth Macroeconomics and Economic Growth-Economic Modeling and Statistics Macroeconomics and Economic Growth-Economic Development |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42417 |
| By: | Arisa Chantaraboontha |
| Abstract: | This paper examines the responses of foreign exchange rates to the Federal Reserve’s large-scale asset purchases (LSAPs) and forward guidance (FWG) from 2009 to 2022 using local projections. I confirm heterogeneous responses of examined foreign exchange rates to unconventional shocks, varying by magnitude, direction, and duration depending on monetary policy conditions and the type of shock. Both shocks caused the appreciation of foreign exchange rates against the US Dollar in all monetary policy cycles, except for the FWG shock during normalization periods of monetary policy. The FWG shock had a greater impact magnitude on the examined foreign exchange rates than the LSAPs shock. The effects of both unconventional shocks were more persistent during periods of zero lower bound (ZLB) on the policy interest rate than during normalization periods of monetary policy. However, the impact of such shocks on foreign exchange rates diminished within a couple of months, contrasting with the literature that finds more persistent effects. The implementation of variance decomposition reveals that the FWG shock had a significantly greater influence on foreign exchange rate variation than the LSAPs shock, emphasizing the importance of effective guidance communication to the markets. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:dpr:wpaper:1276 |
| By: | Labib, Krishma |
| Abstract: | Dominant initiatives focusing on research integrity are changing the research landscape by leading to the development and application of rules, guidelines and standards that researchers across borders have to abide by. There is an increasing attention within these initiatives on the importance of research fairness for conducting responsible research. However, some stakeholders view research fairness as separate, and sometimes even conflicting with, research integrity. To make sense of these accounts, in this paper, I explore the relationship between research integrity and research fairness. I argue that dominant research integrity initiatives are currently at odds with research fairness. This is because these initiatives largely ignore anticolonial views about research, and thereby perpetuate coloniality in research. Furthermore, dominant initiatives only engage superficially with aspects of fairness that are least controversial and current. Moreover, these research integrity initiatives impose Eurocentric ideals about responsible research to other countries, thereby contributing to ‘ethical imperialism’. Considering the wide reach of dominant research integrity initiatives and their influence on research, it is therefore urgent to develop an anticolonial research integrity agenda that takes fairness seriously. |
| Date: | 2024–11–01 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:ygakx_v1 |
| By: | Ministry of Finance of the Kyrgyz Republic; World Bank |
| Keywords: | Environment-Adaptation to Climate Change Environment-Environmental Economics & Policies Macroeconomics and Economic Growth-Fiscal & Monetary Policy Finance and Financial Sector Development-Public & Municipal Finance |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42155 |
| By: | International Finance Corporation |
| Keywords: | Macroeconomics and Economic Growth-Economic Growth Private Sector Development-Private Sector Economics Governance-International Governmental Organizations International Economics and Trade-Foreign Direct Investment |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42031 |
| By: | World Bank |
| Keywords: | Macroeconomics and Economic Growth-Investment and Investment Climate Information and Communication Technologies Macroeconomics and Economic Growth-Fiscal & Monetary Policy Information and Communication Technologies-Telecommunications Infrastructure Social Protections and Labor-Employment and Unemployment |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42607 |
| By: | World Bank |
| Keywords: | Macroeconomics and Economic Growth-Fiscal & Monetary Policy Macroeconomics and Economic Growth-Taxation & Subsidies Macroeconomics and Economic Growth-Economic Policy, Institutions and Governance Private Sector Development Public Sector Development |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42673 |
| By: | Tatiana Skalon; Richard Anthony Sutherland; Stephanie Allan; Eleanor Bayley |
| Keywords: | Environment-Natural Disasters Finance and Financial Sector Development-Finance and Development Infrastructure Economics and Finance-Infrastructure Economics Macroeconomics and Economic Growth-Fiscal & Monetary Policy |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42519 |
| By: | World Bank |
| Keywords: | Macroeconomics and Economic Growth-Economic Development Macroeconomics and Economic Growth-Economic Forecasting Macroeconomics and Economic Growth-Climate Change Economics |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42173 |
| By: | Ablam Estel Apeti; Bao-We-Wal Bambe |
| Abstract: | Since the 1990s, inflation targeting (IT) has been adopted by a growing number of developing countries, including in Africa, where South Africa, Ghana, and Uganda have implemented the monetary framework to promote macroeconomic stability. Despite extensive literature on the topic, little is known about the impact of IT on the performance of African economies. We fill this gap by applying the synthetic control method over the period 1990-2020 to estimate the IT effect from a counterfactual situation based on a comparison group. We find robust evidence that the IT framework has not significantly reduced inflation in any of the three countries. We then explore the underlying mechanisms and argue that weak Central bank independence and the frequent supply shocks to which African economies are exposed make it difficult for Central banks to achieve their inflation targets. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:aer:wpaper:f3726aa6-716f-45a0-8c58-fbb64bc93346 |
| By: | Benson, Alex J (Western University); Woodley, Hayden Jerney Randolph (University of Western Ontario); Jensen, Lynden Dale; Hardy, James |
| Abstract: | We applied the social evaluation framework to investigate the traits desired in an “ideal” follower, which were compared to the traits desired in an “ideal” leader. Across three studies and five samples, both differences and similarities in role-specific preferences mapped onto the Vertical-Horizontal dimensions of the social evaluation framework in ways that aligned with the demands of each role. Traits higher on the Horizontal-morality facet (e.g., cooperative, dutiful) and lower on the Vertical-assertiveness facet (e.g., confident, ambitious) differentiated ideal follower preferences from ideal leader preferences. Focusing on the traits most strongly desired in relation to each role, traits that supported social coordination and collective goal attainment (i.e., work ethic, cooperativeness) were prioritized in relation to ideal followers, whereas intelligence was prioritized for ideal leaders. Trustworthiness was equally valued across both roles. Moreover, we differentiated between necessary and luxury traits by adjusting the budget individuals could allocate towards the desired traits. Investments in necessary versus luxury traits further supported the social evaluation framework and highlighted the need to account for the facet-level distinctions within the Vertical (assertiveness, ability) and Horizontal (morality, friendliness) dimensions. Further, these findings were found to be robust across manipulations (e.g., the target’s gender and hierarchical level). |
| Date: | 2024–03–25 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:6v8d9_v1 |
| By: | Kambayashi, Ryo (Musashi University); Ohyama, Atsushi (Hitotsubashi University) |
| Abstract: | We empirically examine whether and how management facilitates Work From Home (WFH) arrangements using data from the 2020 Management and Organizational Practices Survey conducted in Japan (2020 JP MOPS). In this study, we view WFH arrangements as choices made by establishments/firms and analyze the variation in these arrangements across establishments/firms through the lens of managerial heterogeneity. Our empirical investigation reveals the multi-faceted roles management plays in WFH arrangements. First, well-managed establishments tend to adopt advanced digital technologies that support WFH arrangements, positioning management as a mediator in this context. Second, well-managed establishments are more likely than their poorly managed counterparts to implement WFH arrangements independent of technological factors. Performance-based systems with appropriate rewards appear to effectively incentivize remote workers. Finally, WFH arrangements are positively correlated with labor productivity when management scores are high but show no correlation when management scores are low. Thus, management plays a moderating role in the relationship between WFH arrangements and labor productivity. The overall findings from this study suggest that heterogeneity in management among establishments contributes to the variation in WFH arrangements. |
| Keywords: | WFH, structured management, advanced technology |
| JEL: | M54 L25 O33 |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17668 |
| By: | J. Martinez; Jaime Marti-Herrero; S. Villacis; A. J. Riofrio; D. Vaca |
| Abstract: | The objective of this study is to analyze the CO2 emissions and economic impacts of the implementation of the National Efficient Cooking Program (NECP) in Ecuador, which aims to migrate the population from Liquefied Petroleum Gas (LPG)-based stoves to electric induction stoves. This program is rooted in the current effort to change Ecuador's energy balance, with hydroelectric power expected to generate 83.61% of national electricity by 2022, ending the need for subsidized LPG. For this analysis, the 2014 baseline situation has been compared with two future scenarios for 2022: a business-as-usual scenario and an NECP-success scenario. This study demonstrates the viability of migration from imported fossil fuels to locally-produced renewable energy as the basis for an efficient cooking facility. The new policies scenario would save US$ 1.162 billion in annual government expenditure on cooking subsidies, and reducing CO2 emissions associated to energy for cooking in 1.8 tCO2/y. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.07788 |
| By: | Gaetano Agazzotti; Claudio Aglieri Rinella; Jean-Philippe Aguilar; Justin Lars Kirkby |
| Abstract: | This work examines a stochastic volatility model with double-exponential jumps in the context of option pricing. The model has been considered in previous research articles, but no thorough analysis has been conducted to study its quality of calibration and pricing capabilities thus far. We provide evidence that this model outperforms challenger models possessing similar features (stochastic volatility and jumps), especially in the fit of the short term implied volatility smile, and that it is particularly tractable for the pricing of exotic options from different generations. The article utilizes Fourier pricing techniques (the PROJ method and its refinements) for different types of claims and several generations of exotics (Asian options, cliquets, barrier options, and options on realized variance), and all source codes are made publicly available to facilitate adoption and future research. The results indicate that this model is highly promising, thanks to the asymmetry of the jumps distribution allowing it to capture richer dynamics than a normal jump size distribution. The parameters all have meaningful econometrics interpretations that are important for adoption by risk-managers. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.13824 |
| By: | Anna Hata; Seil Kim; Shinsaku Nomura |
| Keywords: | Social Protections and Labor-Labor Markets Health, Nutrition and Population-Communicable Diseases Poverty Reduction-Poverty Reduction Strategies Macroeconomics and Economic Growth-Economic Growth Education-Access & Equity in Basic Education Gender-Gender and Education |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42393 |
| By: | Gowie, Evangeline; Tsakalaki, Anna; Roesch, Etienne Benoit (University of Reading) |
| Abstract: | Making research data open is recognised as improving both the quality of individual research outputs, and the effectiveness of the perpetuated ‘self-correcting’ goals of research overall. Many funders now mandate open data as a condition of their grants. This can be difficult for qualitative researchers, whose data poses different obstacles to the quantitative data that these policies seem to be aimed at. This pre-print represents the preliminary results of a scoping review into the practical steps that qualitative researchers can take towards opening their transcripts. From each included article, we extracted specific actions that a researcher could take to overcome an identified barrier. From these, we constructed eight themes: confidentiality, consent, misappropriation of data, context, copyright, IRB approval, researcher distress and time and money. We have presented the preliminary findings in the form of a table based ‘tool’, organised via these themes, which we used to develop our own data management plan. |
| Date: | 2024–12–12 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:pzyvt_v1 |
| By: | Felix Drinkall; Stefan Zohren; Michael McMahon; Janet B. Pierrehumbert |
| Abstract: | Macroeconomic fluctuations and the narratives that shape them form a mutually reinforcing cycle: public discourse can spur behavioural changes leading to economic shifts, which then result in changes in the stories that propagate. We show that shifts in semantic embedding space can be causally linked to financial market shocks -- deviations from the expected market behaviour. Furthermore, we show how partisanship can influence the predictive power of text for market fluctuations and shape reactions to those same shocks. We also provide some evidence that text-based signals are particularly salient during unexpected events such as COVID-19, highlighting the value of language data as an exogenous variable in economic forecasting. Our findings underscore the bidirectional relationship between news outlets and market shocks, offering a novel empirical approach to studying their effect on each other. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.14497 |
| By: | Clarke, Natasha; Pechey, Emily; Shemilt, Ian (University College London); Pilling, Mark Andrew Dr (University of Cambridge); Roberts, Nia; Marteau, Theresa Mary; Jebb, Susan; Hollands, Gareth J (University College London) |
| Abstract: | Background: Overconsumption of food and consumption of any amount of alcohol increases the risk of non-communicable diseases. Calorie (energy) labelling is advocated as a means to reduce energy intake from food and alcoholic drinks. However, there is continued uncertainty about these potential impacts, with a 2018 Cochrane review identifying only a small body of low-certainty evidence. This review updates and extends the 2018 Cochrane review to provide a timely reassessment of evidence for the effects of calorie labelling on people's selection and consumption of food or alcoholic drinks. Objectives: – To estimate the effect of calorie labelling for food (including non-alcoholic drinks) and alcoholic drinks on selection (with or without purchasing) and consumption. – To assess possible modifiers – label type, setting, and socioeconomic status – of the effect of calorie labelling on selection (with or without purchasing) and consumption of food and alcohol. Search methods: We searched CENTRAL, MEDLINE, Embase, PsycINFO, five other published or grey literature databases, trial registries, and key websites, followed by backwards and forwards citation searches. Using a semi-automated workflow, we searched for and selected records and corresponding reports of eligible studies, with these searches current to 2 August 2021. Updated searches were conducted in September 2023 but their results are not fully integrated into this version of the review. Selection criteria: Eligible studies were randomised controlled trials (RCTs) or quasi-RCTs with between-subjects (parallel group) or within-subjects (cross-over) designs, interrupted time series studies, or controlled before-after studies comparing calorie labelling with no calorie labelling, applied to food (including non-alcoholic drinks) or alcoholic drinks. Eligible studies also needed to objectively measure participants' selection (with or without purchasing) or consumption, in real-world, naturalistic laboratory, or laboratory settings. Data collection and analysis: Two review authors independently selected studies for inclusion and extracted study data. We applied the Cochrane RoB 2 tool and ROBINS-I to assess risk of bias in included studies. Where possible, we used (random-effects) meta-analyses to estimate summary effect sizes as standardised mean differences (SMDs) with 95% confidence intervals (CIs), and subgroup analyses to investigate potential effect modifiers, including study, intervention, and participant characteristics. We synthesised data from other studies in a narrative summary. We rated the certainty of evidence using GRADE. Main results: We included 25 studies (23 food, 2 alcohol and food), comprising 18 RCTs, one quasi-RCT, two interrupted time series studies, and four controlled before-after studies. Most studies were conducted in real-world field settings (16/25, with 13 of these in restaurants or cafeterias and three in supermarkets); six studies were conducted in naturalistic laboratories that attempted to mimic a real-world setting; and three studies were conducted in laboratory settings. Most studies assessed the impact of calorie labelling on menus or menu boards (18/25); six studies assessed the impact of calorie labelling directly on, or placed adjacent to, products or their packaging; and one study assessed labels on both menus and on product packaging. The most frequently assessed labelling type was simple calorie labelling (20/25), with other studies assessing calorie labelling with information about at least one other nutrient, or calories with physical activity calorie equivalent (PACE) labelling (or both). Twenty-four studies were conducted in high-income countries, with 15 in the USA, six in the UK, one in Ireland, one in France, and one in Canada. Most studies (18/25) were conducted in high socioeconomic status populations, while six studies included both low and high socioeconomic groups, and one study included only participants from low socioeconomic groups. Twenty-four studies included a measure of selection of food (with or without purchasing), most of which measured selection with purchasing (17/24), and eight studies included a measure of consumption of food. Calorie labelling of food led to a small reduction in energy selected (SMD −0.06, 95% CI −0.08 to −0.03; 16 randomised studies, 19 comparisons, 9850 participants; high-certainty evidence), with near-identical effects when including only studies at low risk of bias, and when including only studies of selection with purchasing. There may be a larger reduction in consumption (SMD −0.19, 95% CI −0.33 to −0.05; 8 randomised studies, 10 comparisons, 2134 participants; low-certainty evidence). These effect sizes suggest that, for an average meal of 600 kcal, adults exposed to calorie labelling would select 11 kcal less (equivalent to a 1.8% reduction), and consume 35 kcal less (equivalent to a 5.9% reduction). The direction of effect observed in the six non-randomised studies was broadly consistent with that observed in the 16 randomised studies. Only two studies focused on alcoholic drinks, and these studies also included a measure of selection of food (including non-alcoholic drinks). Their results were inconclusive, with inconsistent effects and wide 95% CIs encompassing both harm and benefit, and the evidence was of very low certainty. Authors' conclusions: Current evidence suggests that calorie labelling of food (including non-alcoholic drinks) on menus, products, and packaging leads to small reductions in energy selected and purchased, with potentially meaningful impacts on population health when applied at scale. The evidence assessing the impact of calorie labelling of food on consumption suggests a similar effect to that observed for selection and purchasing, although there is less evidence and it is of lower certainty. There is insufficient evidence to estimate the effect of calorie labelling of alcoholic drinks, and more high-quality studies are needed. Further research is needed to assess potential moderators of the intervention effect observed for food, particularly socioeconomic status. Wider potential effects of implementation that are not assessed by this review also merit further examination, including systemic impacts of calorie labelling on industry actions, and potential individual harms and benefits. |
| Date: | 2025–01–17 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:pwhs5_v1 |
| By: | Adam Bouyamourn; Alexander Williams Tolbert |
| Abstract: | Disparities in lending to minority applicants persist even as algorithmic lending practices proliferate. Further, disparities in interest rates charged can remain large even when loan applicants from different groups are equally creditworthy. We study the role of risk-management constraints, specifically Value-at-Risk (VaR) constraints, in the persistence of segregation in loan approval decisions. We develop a formal model in which a mainstream (low-interest) bank is more sensitive to variance risk than a subprime (high-interest) bank. If the mainstream bank has an inflated prior belief about the variance of the minority group, it may deny that group credit indefinitely, thus never learning the true risk of lending to that group, while the subprime lender serves this population at higher rates. We formalize this as a "subprime trap" equilibrium. Finally, we show that a small, finite subsidy (or partial guarantee) can help minority groups escape the trap by covering enough of the mainstream bank's downside so that it can afford to lend and learn the minority group's true risk. Once it has sufficiently many data points, it meets its VaR requirement with no further assistance, minority groups are approved for loans by the mainstream bank, and competition drives down the interest rates of subprime lenders. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.17816 |
| By: | Rahman, Warefta; Ferdous, Jannatul |
| Abstract: | The paper analyses the causes and consequences of GBV in Bangladesh's garment industry, focusing on how such violence disproportionately affects female workers. The study will investigate the system's ills within the sector, societal attitudes, and workplace environments that foster victimization. Data analysis on workplace harassment, exploitation, and unsafe working conditions will provide insights in this paper on the broader socio-political and economic impacts of GBV in this sector. It also discusses recommendations for policy reforms and legal protections that could be put in place to safeguard female workers. |
| Date: | 2024–11–03 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:dfcsn_v1 |
| By: | World Bank; CEPA |
| Keywords: | Information and Communication Technologies-Telecommunications Infrastructure Finance and Financial Sector Development-Access to Finance Infrastructure Economics and Finance-Private Participation in Infrastructure |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41991 |
| By: | Zichuan Guo; Mihai Cucuringu; Alexander Y. Shestopaloff |
| Abstract: | We tackle the challenges of modeling high-dimensional data sets, particularly those with latent low-dimensional structures hidden within complex, non-linear, and noisy relationships. Our approach enables a seamless integration of concepts from non-parametric regression, factor models, and neural networks for high-dimensional regression. Our approach introduces PCA and Soft PCA layers, which can be embedded at any stage of a neural network architecture, allowing the model to alternate between factor modeling and non-linear transformations. This flexibility makes our method especially effective for processing hierarchical compositional data. We explore ours and other techniques for imposing low-rank structures on neural networks and examine how architectural design impacts model performance. The effectiveness of our method is demonstrated through simulation studies, as well as applications to forecasting future price movements of equity ETF indices and nowcasting with macroeconomic data. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.11310 |
| By: | Annette Alstadsaeter (NMBU - Norwegian University of Life Sciences); Matthew Collin (EU Tax - EU Tax Observatory, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Bluebery Planterose (EU Tax - EU Tax Observatory, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Gabriel Zucman (EU Tax - EU Tax Observatory, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | This note presents new evidence on the scale of foreign investment in the Dubai residential property market. Using new data comprising the ownership of a large share of the Dubai property market, we present updated estimates of foreign-owned real estate for the years 2020 and 2022. We find that foreign nationals hold around 43% of the total value of all residential property in the city. Foreign-owned residential real estate grew by 20%—around $ 23 billion—between the beginning of 2020 and early 2022. We also find evidence of a substantial boom in Russian interest in the city following the invasion of Ukraine, with both utility accounts and residential leases associated with Russian nationals increasing sharply. Relying on simple assumptions to allocate new property purchases across nationalities, we conservatively estimate that Russians bought up to $2.4 billion worth of existing properties and a further $3.9 billion of in-development properties since the invasion. Our findings have three main policy implications: 1. Anti-money laundering organisations such as the Financial Action Task Force should intensify pressure on the United Arab Emirates to clean up its real estate sector 2. Automatic exchange-of-information regimes such as the OECD's Common Reporting Standard (CRS) should be expanded to include real estate 3. Policymakers should begin the process of introducing the building blocks of a global asset registry, to build a unified picture of non-financial and financial assets, first at the regional level, then at the global level Our updated 2020 estimates are also now available on the Atlas of the Offshore World. |
| Date: | 2024–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:halshs-04941057 |
| By: | World Bank |
| Keywords: | Agriculture-Agribusiness Information and Communication Technologies-ICT Applications |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42245 |
| By: | World Bank |
| Keywords: | Governance-E-Government Information and Communication Technologies-Digital Divide |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41983 |
| By: | Pandit, Harshvardhan J.; Rintamäki, Tytti |
| Abstract: | The recently published EU Artificial Intelligence Act (AI Act) is a landmark regulation that regulates the use of AI technologies. One of its novel requirements is the obligation to conduct a Fundamental Rights Impact Assessment (FRIA), where organisations in the role of deployers must assess the risks of their AI system regarding health, safety, and fundamental rights. Another novelty in the AI Act is the requirement to create a questionnaire and an automated tool to support organisations in their FRIA obligations. Such automated tools will require a machine-readable form of information involved within the FRIA process, and additionally also require machine-readable documentation to enable further compliance tools to be created. In this article, we present our novel representation of the FRIA as an ontology based on semantic web standards. Our work builds upon the existing state of the art, notably the Data Privacy Vocabulary (DPV), where similar works have been established to create tools for GDPR's Data Protection Impact Assessments (DPIA) and other obligations. Through our ontology, we enable the creation and management of FRIA, and the use of automated tool in its various steps. |
| Date: | 2024–12–11 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:tm74p_v1 |
| By: | International Finance Corporation |
| Keywords: | International Economics and Trade-Foreign Direct Investment Poverty Reduction-Equity and Development Governance-International Governmental Organizations |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42169 |
| By: | Laville, Camille; Mandon, Pierre Jean-Claude |
| Abstract: | Do income shocks locally affect internal conflicts To address this question, this paper employs a meta-regression analysis of 2, 464 infranational estimates from 64 recent empirical studies on conflicts and income-related shocks in developing countries. After accounting for publication selection bias, the analysis finds that, on average, wealth-increasing shocks in the agriculture sector are negatively associated with the local risk of conflict. Nonetheless, the analysis finds no average effect of wealth-decreasing shocks in the agriculture sector or wealth-increasing shocks in the extractive sector on the local risk of conflict. The paper also shows that studies that fail to uncover empirical effects that conform to researchers’ expectations on the theoretical mechanisms are less likely to be published. Differences in the geographical area of study, the choice of control variables, and the way shocks are measured substantially explain the heterogeneity among estimates in the literature. |
| Date: | 2023–02–23 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:10315 |
| By: | World Bank |
| Keywords: | International Economics and Trade-Customs and Trade International Economics and Trade-International Trade and Trade Rules International Economics and Trade-Trade Finance and Investment |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42024 |
| By: | Liu, Chuanjun (Sichuan University); Zou, Lemei; Wu, Junhong; Wang, Taolin; Abbas, Syed Zain |
| Abstract: | Previous studies have highlighted the paradoxical nature of unethical pro-organizational behavior (UPB), yet no measurement tools specifically targeting this paradox have been developed. This study introduces a new thought experiment measure based on the five-phase development framework by Hinkin (1995, 1998). Phase one, concept clarification, adopted the widely accepted UPB definition from Umphress et al. (2010). Phase two developed and initially validated seven UPB scenarios with high content and ecological validity, capturing the paradox that employees experience regarding UPB (Study 1). Phase three demonstrated that the employees’ UPB choices in these scenarios showed high internal consistency and structural validity (Study 2). Phase four demonstrated high criterion and discriminant validity compared to Umphress et al.’s UPB scale, along with high test-retest reliability (Study 3). Phase five examined the cognitive process underlying UPB through the lens of dual-process theory (Study 4). Cognitive load manipulations (with or without load) revealed that employees under cognitive load made faster decisions but exhibited lower UPB choice frequency, thereby supporting the paradoxical nature of UPB and its cognitive underpinnings. Theoretical and practical implications were discussed. |
| Date: | 2024–04–13 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:uamxy_v1 |
| By: | World Bank |
| Keywords: | Water Supply and Sanitation-Urban Solid Waste Management Urban Development-Urban Water & Waste Management Environment-Pollution Management & Control Social Development-Social Analysis |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42647 |
| By: | , Rojas Daniel; Trejo, Alfredo III; Peters, Margaret E.; Zhou, Yang-Yang (University of British Columbia) |
| Abstract: | When do host governments protect migrants and expand their rights? On February 8, 2021, Colombian President Iván Duque announced a 10-year temporary protected status for over 1.7 million Venezuelan migrants, a policy shift that contrasts with more restrictive migration responses globally. This paper examines the underlying motivations for Colombia's unexpected generosity, identifying three key factors: the pragmatic response to challenges in border control, the economic and legibility benefits of migrant regularization, and the pursuit of international reputation gains. Drawing on interviews with 30 Colombian policymakers, politicians, diplomats, bureaucrats, and NGO leaders, this study offers new insights into the drivers of inclusive migration policies in the Global South. |
| Date: | 2024–12–16 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:f4j63_v1 |
| By: | World Bank |
| Keywords: | Agriculture-Agribusiness Agriculture-Food Security Macroeconomics and Economic Growth-Inflation Macroeconomics and Economic Growth-Econometrics |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42625 |
| By: | Sharma, Neha (Innowage Limited); Sharma, Durga Prasad; Ranka, Parul; Shinde, Sandeep; Patel, Manisha |
| Abstract: | In today's rapidly evolving knowledge economy, the symbiotic relationship between academia and industry is pivotal for fostering innovation, driving economic growth, and addressing complex global challenges. This paper delves into the strategic collaboration framework of MJRP University's Global Research and Industry Partnership (GRIP), an initiative designed to bridge the gap between academic research and industrial application. Through an extensive need assessment, the paper identifies critical areas where academia and industry intersect, evaluates the benefits and challenges of such collaborations, and proposes a comprehensive plan to enhance synergy between these sectors. The GRIP framework emphasizes multi-disciplinary research, technological advancement, and real-world problem-solving, leveraging MJRP University's robust academic expertise and industry connections. This initiative aims to create a sustainable ecosystem that not only accelerates innovation but also prepares students and researchers for the demands of a dynamic workforce. The findings highlight the importance of strategic alignment, resource optimization, and continuous stakeholder engagement in maximizing the impact of academic-industry partnerships. The paper concludes with recommendations for policymakers, educational institutions, and industry leaders to foster a collaborative culture that supports mutual growth and societal advancement. |
| Date: | 2024–10–08 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:yhr3s_v1 |
| By: | World Bank; Global Facility for Disaster Reduction and Recovery (GFDRR) |
| Keywords: | Environment-Natural Disasters |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42005 |
| By: | Daniel, Lanta; Mwighusa, Dennis; Diyamett, Bitrina |
| Abstract: | Financial services are key to economic growth and societal well-being, boosting access to credit, savings, and overall development. Despite progress in mobile phone and mobile money adoption in Sub- Saharan Africa particularly Tanzania, financial exclusion in the country remains high compared to other East African countries, with significant gender and urban-rural disparities. This study examines digital financial inclusion in Tanzania, focusing on rural women's experiences and challenges. Using focus group discussions and policy analysis, the study highlights major gaps in awareness, usage, and understanding of mobile money services, as well as overlooked policy aspects. Key findings reveal that while awareness of digital financial services is widespread, rural communitiesespecially womenlack a thorough understanding of these services. This gap in comprehension limits their usage, indicating that mere awareness is insufficient. The study underscores the importance of tailored interventions, such as community engagement, capacity building for agents, and targeted policy frameworks, to address these challenges. Recommendations are provided for both the public sector and the private sector on how to enhance financial inclusion, ensuring that no one is left behind in the digital financial landscape. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:aer:wpaper:39cdb42d-dbf4-4e35-a1a7-69a3625e8b0c |
| By: | World Bank |
| Keywords: | Gender-Gender and Economics Gender-Gender and Development Information and Communication Technologies-ICT Applications Social Protections and Labor-Labor Markets Social Protections and Labor-Employment and Unemployment |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42604 |
| By: | Carleton, Tamara; Cockayne, William |
| Abstract: | A rise of government funding agencies dedicated to radical innovation has occurred in recent years. When launching bold and ambitious programs marked by radical uncertainty and unknowable outcomes, how do innovation-funding organizations deliberately provoke risk-taking behavior in potential applicants? This study focuses on the interplay between risk perception and decision making for deliberate high-risk decisions. We compare the language used in 81 public funding calls and new program solicitations from four US government funding entities, which comprise DARPA (Defense Advanced Research Projects Agency), the Defense Innovation Unit, the NASA Innovative Advanced Concepts program, and ARPA-H. A list of potential signal phrases was derived, indicating a spectrum of corresponding risk levels for an innovation opportunity. A survey with 92 evaluators validated that certain keywords served as provocations to trigger risk taking in the pursuit of transformative breakthroughs and frontier science. Our work contributes to a lexicon of signal phrases for provoking and communicating innovation, especially for far-reaching programs. More broadly, understanding the impact of language on decision making under high-risk conditions can inform national innovation policy and strategy for other funding organizations seeking to induce scientific and technological advancement in the United States and globally. |
| Date: | 2025–01–20 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:aqgf8_v1 |
| By: | World Bank |
| Keywords: | Social Protections and Labor-Labor Markets Science and Technology Development-Innovation Social Protections and Labor Poverty Reduction-Poverty Reduction Strategies Social Protections and Labor-Employment and Unemployment |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42619 |
| By: | Mangurkar, Isha (University of Edinburgh); Sambaraju, Rahul (The University of Edinburgh) |
| Abstract: | People’s abilities to learn and speak various languages are important to social scientists to illuminate the complex association(s) between language and social identity. This paper examines threads from Indian Twitter/X where users mobilise these associations as a resource to discuss, maintain, negotiate, or resist prevalent notions of social hierarchies. We examine how the opening question is framed as a category-puzzle, implicating normative expectations about ‘North Indian politicians’ not speaking the regional language Kannada using discursive psychology and membership categorization analysis. We show that users respond in various ways, such as by attempting to solve the puzzle or attending to a broader implication of the prevalence of hierarchies regarding speaking Hindi and other regional languages. We conclude by discussing how a close analysis of this interaction reveals users’ understanding of the prevalent social hierarchies in the Indian context, and how they manage their stake and involvement in discussions around these. |
| Date: | 2024–12–13 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:ev3ar_v1 |
| By: | World Bank |
| Keywords: | Education Gender Governance |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42674 |
| By: | Jose Luis Vallejo; Belinda Tato; Marco Rizzetto; Jon Kher Kaw; Hogeun Park; Ban Edilbi |
| Keywords: | Urban Development-Transport in Urban Areas Communities and Human Settlements-Urban Communities |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41856 |
| By: | Eibich, Peter (PSL Université Paris Dauphine); Kanabar, Ricky (University of Bath); Plum, Alexander T. (Auckland University of Technology) |
| Abstract: | We study how population variation in testosterone levels impacts male labour market earnings using data from the UK Household Longitudinal Study between 2011 and 2013. We exploit genetic variation between individuals as instrumental variables following a Mendelian Randomization approach to address the endogeneity of testosterone levels. Our findings show that higher testosterone levels have a strong positive impact on earnings. Importantly, these findings are limited to men belonging to the lower quartile of the testosterone distribution and working in higher-paid jobs. We show that differences within rather than between occupations drive these findings, whereas we find limited support for selection into occupation or mechanisms involving individual characteristics, including personality traits and education. |
| Keywords: | earnings, IV, testosterone, Mendelian Randomisation |
| JEL: | J31 C26 I10 |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17699 |
| By: | Emile Aurélien Ahua (Université Alassane Ouattara [Bouaké, Côte d'Ivoire], LETG - Nantes - Littoral, Environnement, Télédétection, Géomatique - UBO - Université de Brest - UR2 - Université de Rennes 2 - CNRS - Centre National de la Recherche Scientifique - LETG - Littoral, Environnement, Télédétection, Géomatique UMR 6554 - UBO - Université de Brest - UR2 - Université de Rennes 2 - CNRS - Centre National de la Recherche Scientifique - Nantes Univ - IGARUN - Institut de Géographie et d'Aménagement Régional de l'Université de Nantes - Nantes Université - pôle Humanités - Nantes Univ - Nantes Université, PoSTer - Groupe de recherche Populations, Sociétés et Territoires - UJloG - Université Jean Lorougnon Guédé); Chiadon Prisca Orphilia Ogui (UFHB - Université Félix Houphouët-Boigny [Abidjan, Côte d'Ivoire]) |
| Abstract: | In recent years, economic urban governance in secondary cities has focused a great deal of attention on corporate social responsibility (CSR), particularly in industrial cities. However, it seems that in Africa's secondary cities, where industrial activity is evolving, public authorities are struggling to achieve the desired objectives. These include the application by industrial units of several mechanisms aimed at protecting the urban environment and coastline or reducing pollution factors. This contribution analyzes the mechanisms used by industrial players in secondary cities to implement corporate social responsibility. Through the case study of the city of San-Pédro, the aim is to show how this policy is operationalized and what is really at stake in its implementation. To achieve this, the methodological approach used was structured around a mixed-method analysis. The method used integrates a literature review, a questionnaire survey of local industry players and interviews with public authorities and bodies in charge of the sector. The results of the study show that CSR remains a weakly applied initiative by industrial operators as a whole. However, they are taking some steps to promote sustainable management of the urban and coastal environment. Finally, the public authorities, through awareness-raising and the introduction of a specific regulatory framework, are working hard to reorganize industrial practices so that CSR is better taken into account. |
| Abstract: | Au cours de ces dernières années dans les villes secondaires, la gouvernance urbaine sur le plan économique s'est beaucoup penchée sur la responsabilité sociétale des entreprises (RSE) notamment dans les villes industrielles. Cependant, il semble que dans les villes secondaires africaines où l'activité industrielle est évolutive, les pouvoirs publics peinent à atteindre les objectifs souhaités. Il s'agit entre autres de la difficile application par les unités industrielles de plusieurs mécanismes visant à protéger l'environnement urbain et le littoral ou à réduireles facteurs de pollution. Ainsi, cette contribution analyse les mécanismes de mise en œuvre de la responsabilité sociétale des entreprises par les acteurs de l'activité industrielle dans les villes secondaires. À travers l'étude de cas de la ville de San-Pédro, il s'agit de montrer les modes d'opérationnalisation de cette politique et les enjeux réels de sa mise en œuvre. Pour y parvenir, l'approche méthodologique utilisée s'est structurée autour d'une analyse mixte. Cette méthode utilisée intègre une revue de la littérature, une enquête par questionnaires auprès des acteurs de l'industrie locale et des entretiens auprès des pouvoirs publics ainsi que des organes en charge du secteur. Les résultats de l'étude montrent que la RSE reste une initiative faiblement appliquée par les opérateurs de l'activité industrielle dans sa globalité. Cependant, certaines actions sont menées par ces derniers pour impulser une gestion durable de l'environnement urbain et littoral. Enfin, les pouvoirs publics à travers la sensibilisation et l'instauration d'un cadre réglementaire spécifique s'activent à réorganiser les pratiques industrielles pour une meilleure prise en compte de le RSE. |
| Keywords: | Industrial activity, Social responsibility, Sustainable development, Environmental policy, San-Pédro., Activité industrielle, Responsabilité sociétale, Développement Durable, Politique environnementale, San-Pédro |
| Date: | 2024–05–14 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04962478 |
| By: | Thomas Henning; Siddhartha M. Ojha; Ross Spoon; Jiatong Han; Colin F. Camerer |
| Abstract: | This paper explores how Large Language Models (LLMs) behave in a classic experimental finance paradigm widely known for eliciting bubbles and crashes in human participants. We adapt an established trading design, where traders buy and sell a risky asset with a known fundamental value, and introduce several LLM-based agents, both in single-model markets (all traders are instances of the same LLM) and in mixed-model "battle royale" settings (multiple LLMs competing in the same market). Our findings reveal that LLMs generally exhibit a "textbook-rational" approach, pricing the asset near its fundamental value, and show only a muted tendency toward bubble formation. Further analyses indicate that LLM-based agents display less trading strategy variance in contrast to humans. Taken together, these results highlight the risk of relying on LLM-only data to replicate human-driven market phenomena, as key behavioral features, such as large emergent bubbles, were not robustly reproduced. While LLMs clearly possess the capacity for strategic decision-making, their relative consistency and rationality suggest that they do not accurately mimic human market dynamics. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.15800 |
| By: | Luria, Michal; Scherer, Matthew U.; Thakur, Dhanaraj; Aboulafia, Ariana; Claypool, Henry; Negrón, Wilneida |
| Abstract: | Companies have incorporated hiring technologies, including AI-powered assessments and other automated employment decision systems (AEDSs), into various stages of the hiring process across a wide range of industries. While proponents argue that these technologies can aid in identifying suitable candidates and reducing bias, researchers and advocates have identified multiple ethical and legal risks that these technologies present, including discriminatory impacts on members of marginalized groups. This study examines some of the impacts of modern computer-based assessments (“digitized assessments”) — the kinds of assessments commonly used by employers as part of their hiring processes — on disabled job applicants. |
| Date: | 2024–11–20 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:r9kz7_v1 |
| By: | Juanjuan Fan; Ying Wang |
| Abstract: | This paper introduces a new solution concept for the Cooperative Game with Public Externalities, called the w-value, which is characterized by three properties (axioms), namely Pareto-optimality (PO), Market-equilbrium (ME) and Fiscal-balance (FB). Additionally, the implementation mechanism for w-value is also provided. The w-value exists and is unique. It belongs to the core. And, more specifically, it belongs to the -core. Meanwhile, the computational cost of w-value is very low. Therefore, the w-value is a theoretically more compelling solution concept than the existing cooperation game solutions when analyzing cooperative games with public externalities. A numerical illustration shows the calculation steps of w-value. Meanwhile, the w-value well explains the reason why the mandatory emission reduction mechanism must be transformed into a "nationally determined contribution" mechanism in current international climate negotiations. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.16800 |
| By: | Balint Negyesi; Cornelis W. Oosterlee |
| Abstract: | A deep BSDE approach is presented for the pricing and delta-gamma hedging of high-dimensional Bermudan options, with applications in portfolio risk management. Large portfolios of a mixture of multi-asset European and Bermudan derivatives are cast into the framework of discretely reflected BSDEs. This system is discretized by the One Step Malliavin scheme (Negyesi et al. [2024, 2025]) of discretely reflected Markovian BSDEs, which involves a $\Gamma$ process, corresponding to second-order sensitivities of the associated option prices. The discretized system is solved by a neural network regression Monte Carlo method, efficiently for a large number of underlyings. The resulting option Deltas and Gammas are used to discretely rebalance the corresponding replicating strategies. Numerical experiments are presented on both high-dimensional basket options and large portfolios consisting of multiple options with varying early exercise rights, moneyness and volatility. These examples demonstrate the robustness and accuracy of the method up to $100$ risk factors. The resulting hedging strategies significantly outperform benchmark methods both in the case of standard delta- and delta-gamma hedging. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.11706 |
| By: | World Bank |
| Keywords: | Information and Communication Technologies-ICT Applications Macroeconomics and Economic Growth-Economic Growth |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42285 |
| By: | Krekó, Judit; Prinz, Daniel; Weber, Andrea |
| Abstract: | In most disability insurance programs, beneficiaries lose some or all of their benefits if they earn above an earnings threshold. While intended to screen out applicants with high remaining working capacity, earnings limits can also distort the labor supply of beneficiaries. This paper develops a simple framework to evaluate this trade-off. It uses a reduction in the earnings limit in Hungary to examine screening and labor supply responses. The findings show that the policy changed selection into the program modestly, but it reduced labor supply significantly. Viewed through the lens of the model, these findings suggest that the earnings threshold should be higher. |
| Date: | 2023–02–27 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:10325 |
| By: | Ilsa Meidina; Tanya Adi Putri |
| Keywords: | Social Protections and Labor-Employment and Unemployment Finance and Financial Sector Development |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42230 |