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on Macroeconomics |
| By: | Mitsuru Katagiri (Associate Professor, Faculty of Business Administration, Hosei University (E-mail:mitsuru.katagiri@hosei.ac.jp)); Yusuke Oh (Deputy Director, Institute for Monetary and Economic Studies, Bank of Japan (E-mail: yuusuke.ou@boj.or.jp)); Yasutaka Ogawa (Director, Financial System and Bank Examination Department, Bank of Japan (E-mail: yasutaka.ogawa@boj.or.jp)); Nao Sudo (Associate Director-General, Financial System and Bank Examination Department, Bank of Japan (E-mail: nao.sudo@boj.or.jp)); Takeki Sunakawa (Associate Professor, Faculty of Economics, Hitotsubashi University (E-mail: t.sunakawa@r.hit-u.ac.jp)) |
| Abstract: | In macroeconomics, fiscal and monetary policies are both viewed as important macro policy tools for stabilizing aggregate demand, and their transmission channels and effects are considered to interact with each other. By adjusting interest rates, monetary policy can affect the extent to which the intertemporal substitution of aggregate demand occurs and thus alter the size of fiscal multipliers. These adjustments can also impact government debt accumulation through changes in interest payments. Conversely, fiscal policy and resulting government debt levels, just like other economic and social environments, can influence the transmission and impact of monetary policy by affecting the decision- making of households and firms. In addition, some theories posit that primary fiscal balance dynamics themselves impact the determination of the aggregate price level. Academic interest in the interaction of the two policies has intensified, sparked by debates on how stimulative policies should be executed in response to the global financial crisis and inflation surges after the COVID-19 pandemic. This paper overviews recent macroeconomic studies on monetary and fiscal policy interactions mainly from three perspectives: the Taylor rule and fiscal multipliers, interest rates and government debt, and the fiscal theory of the price level. |
| Keywords: | Taylor rule, fiscal multipliers, interest rates and government debt, fiscal theory of the price level |
| JEL: | E12 E21 E31 E52 E62 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ime:imedps:24-e-12 |
| By: | C. LABROUSSE (Insee, Paris School of Economics); Y. PERDEREAU (Paris School of Economics) |
| Abstract: | What are the effects of central bank balance sheet expansion, and should we worry about central bank losses? Using a Heterogeneous Agent New Keynesian model incorporating money in utility and an endogenous zero lower bound (ZLB), we study the fiscal-monetary interaction of central bank balance sheet policies. We find that the overall efficiency of asset purchase programmes depends on the combination of the expected future size of the balance sheet and the fiscal transmission of central bank losses. First, permanent balance sheet expansions stimulate the economy in the long-run and, by anticipation, increase inflation and output during the ZLB episode, as they interact with distortionary taxes and imperfect capital markets. Second, at the end of the ZLB, the central bank incurs losses: issuing securities to offset these losses is more welfare-enhancing than raising taxes. |
| Keywords: | monetary policy heterogeneous agents, balance sheet, Quantitative Easing, Quantitative Tightening, Central Bank losses, fiscal and monetary policy mix |
| JEL: | E21 E41 E51 E52 E58 E63 E65 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:nse:doctra:2025-10 |
| By: | Efrem Castelnuovo; Giovanni Pellegrino; Laust L. Særkjær |
| Abstract: | We study how uncertainty shocks affect the macroeconomy across the inflation cycle using a nonlinear stochastic volatility-in-mean VAR. When inflation is high, uncertainty shocks raise inflation and depress real activity more sharply. A non-linear New Keynesian model with second-moment shocks and trend inflation explains this via an 'inflation-uncertainty amplifier': the interaction between high trend inflation and firms' upward price bias magnifies the effects of uncertainty by increasing price dispersion. An aggressive policy response can replicate the allocation achieved under standard policy when trend inflation is low. |
| Keywords: | uncertainty, trend inflation, nonlinear VAR model, new Keynesian model, monetary policy. |
| JEL: | C32 E32 E44 G01 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11853 |
| By: | Cameron Haas (Department of Economics, UMass Amherst); Mateo Hoyos (Department of Economics, CIDE); Emiliano Libman (Conicet, Argentina); Guilherme K. Martins (Department of Economics, University of Leeds); Arslan Razmi (Department of Economics, UMass Amherst) |
| Abstract: | After decades of low and stable inflation, recent global events —such as the COVID-19 pandemic and the Russian invasion of Ukraine—triggered a resurgence in inflationary pressures, prompting central banks worldwide to tighten monetary policy. This paper examines whether monetary policy effectively curbs inflation by employing a trilemma-based identification strategy on a panel dataset of 36 developing and 8 developed economies from 1990 to 2017. Using higher-frequency monthly data, we improve on traditional quarterly or annual approaches by more precisely capturing central bank responses. By applying our theory-driven, trilemma-based identification strategy to a sample of developing countries, we bring novel insights to existing literature. Our findings indicate that monetary policy shocks have significant but impermanent effects on inflation. A 100 basis point interest rate hike lowers the price level by 3.7% at its peak after six months, with effects fading within 18 months. Crucially, our results do not exhibit the “price puzzle, ” reinforcing the credibility of our identification strategy. Additionally, we find that monetary policy effects are state-dependent, with stronger disinflationary impacts during high-inflation periods and in economies with lower GDP per capita or higher commodity export dependence. These findings highlight the heterogeneity in monetary policy transmission, underscoring the need for tailored policy responses across different economic contexts. |
| Keywords: | interest rates, monetary experiments, trilemma, instrumental variables, local projections |
| JEL: | E01 E30 E32 E44 E47 E51 F33 F42 F44 |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:emc:wpaper:dte650 |
| By: | Irigoin, Alejandra; Kobayashi, Atsushi; Chilosi, David |
| Abstract: | This paper analyses a new, large dataset of silver prices, as well as silver and merchandise trade flows in and out of China in the crucial decades of the mid-19th century when the Empire was opened to world trade. Silver flows were associated with the interaction between heterogenous monetary preferences and availability of specific coins. Before the 1850s, money markets became increasingly efficient, as reliance on bills of exchange allowed exports to grow in times when sound money was in short supply. When a new standard for silver eventually emerged, there was a new peak in China’s silver imports. |
| Keywords: | China silver flows; triangular trade settlement mechanism; exchange operations; arbitrage; ‘opening of China’ |
| JEL: | E42 F33 N10 |
| Date: | 2023–07–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:119759 |
| By: | Becker, Max; Bendiek, Annegret; Kempin, Ronja |
| Abstract: | Since Russia's full-scale invasion of Ukraine on 24 February 2022, a process of securitisation of the European Union's (EU) external action can be observed. From an institutional perspective, the Common Foreign and Security Policy (CFSP) increasingly overlaps with the Common Security and Defence Policy (CSDP). However, this does not solve the problem of a lack of capacity to act in foreign and security policy. On the contrary, the trend towards the securitisation of EU foreign policy is a distraction from the long overdue reform of Europe's capacity to act in foreign and security policy. There are two options to finally improve this: a) a Europeanisation of the European pillar in NATO, and b) a communitarisation of the CFSP and CSDP. |
| Keywords: | Common Foreign and Security Policy, CFSP, Common Security and Defence Policy, CSDP, Green Deal Industrial Plan, ReArm Europe, qualified majority voting, securitization, European Peace Facility, EPF, migration agreement, third country agreement, De-risking, Friend-shoring, Global Gateway, GGS, European Defence Agency, EDA, European Defence Fund, EDF, Preparatory Action on Defence Research, PADR, European Defence Industrial Development Programme, EDIDP, Act in Support of Ammunition Production, ASAP, European Defence Industry Reinforcement through common Procurement Act, EDIRPA, EUMAM |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:swpcom:316691 |
| By: | Ozili, Peterson K |
| Abstract: | This article presents a synopsis of financial inclusion research in banking. Complementing the existing reviews of the financial inclusion literature, I offer my own thoughts on the role of financial inclusion in banking, and the role of banks in financial inclusion. I focus my discussion on the effect of bank managerial discretion and regulation on financial inclusion outcomes, and the effect of financial inclusion on the business of banking. I show that bank managerial discretion and regulation affect financial inclusion through bank cost optimization decisions and regulatory changes that may have unintended consequences, while financial inclusion affects banks by increasing the deposit base of banks, improving bank profitability, improving banks’ resilience to shocks, improving bank stability and reducing bank risk. I also offer suggestions for future research directions. |
| Keywords: | financial inclusion, banks, research, fintech, risk, stability |
| JEL: | G21 G28 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124259 |
| By: | Sugat Chaturvedi; Rochana Chaturvedi |
| Abstract: | Generative artificial intelligence (AI), particularly large language models (LLMs), is being rapidly deployed in recruitment and for candidate shortlisting. We audit several mid-sized open-source LLMs for gender bias using a dataset of 332, 044 real-world online job postings. For each posting, we prompt the model to recommend whether an equally qualified male or female candidate should receive an interview callback. We find that most models tend to favor men, especially for higher-wage roles. Mapping job descriptions to the Standard Occupational Classification system, we find lower callback rates for women in male-dominated occupations and higher rates in female-associated ones, indicating occupational segregation. A comprehensive analysis of linguistic features in job ads reveals strong alignment of model recommendations with traditional gender stereotypes. To examine the role of recruiter identity, we steer model behavior by infusing Big Five personality traits and simulating the perspectives of historical figures. We find that less agreeable personas reduce stereotyping, consistent with an agreeableness bias in LLMs. Our findings highlight how AI-driven hiring may perpetuate biases in the labor market and have implications for fairness and diversity within firms. |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2504.21400 |
| By: | Paulo Santos (Economics, Monash University.); Benjamin Chipperfield (Economics, Monash University.); Shipra Shah (Forestry, Fiji National University) |
| Abstract: | REDD+ is a promising mechanism for financing carbon sequestration, but limited research exists on the contract designs that maximise this outcome. We estimate the supply of carbon under different agroforestry contracts using primary data collected in Fiji through procurement auctions, artefactual experiments, and household surveys. Our findings indicate that the densest and longest-duration contract offers the most cost-effective opportunities for carbon sequestration. We contrast auctions with contracts defined on the basis of important drivers of bidding decisions (identified using regression trees), under different assumptions of variables that can be used to administratively target beneficiaries. Our analysis shows that for relatively high values of carbon sequestration, auctions outperform such targeted payments, supporting their use for implementing REDD+ in Fiji. |
| Keywords: | agroforestry, auction, REDD+, Fiji |
| JEL: | Q23 D44 |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:mos:moswps:2025-07 |
| By: | Demian Pouzo; Martin Sola; Zacharias Psaradakis |
| Abstract: | This paper studies the robustness of quasi-maximum-likelihood (QML) estimation in hidden Markov models (HMMs) when the regime-switching structure is misspecified. Specifically, we examine the case where the true data-generating process features a hidden Markov regime sequence with covariate-dependent transition probabilities, but estimation proceeds under a simplified mixture model that assumes regimes are independent and identically distributed. We show that the parameters governing the conditional distribution of the observables can still be consistently estimated under this misspecification, provided certain regularity conditions hold. Our results highlight a practical benefit of using computationally simpler mixture models in settings where regime dependence is complex or difficult to model directly. |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2504.21669 |
| By: | Harring, Niklas (Statsvetenskapliga institutionen); Jagers, Sverker C. (Statsvetenskapliga institutionen) |
| Abstract: | För att effektivt minska utsläppen av växthusgaser behövs generella klimatpolitiska styrmedel som till exempel koldioxidskatter. I Sverige infördes redan 1991 en koldioxidskatt. Trots att skatter i allmänhet inte är särskilt populära, verkar faktiskt den svenska koldioxidskatten vara mindre impopulär än många andra skatter. I forskningen kring vad som skapar legitimitet och acceptans för klimatpolitiska styrmedel lyfts framför allt upplevd rättvisa och effektivitet fram som viktiga faktorer. Därför kan till exempel öronmärkning av skatteintäkter, kompensation till drabbade och andra typer av fördelningspolitik påverka den upplevda rättvisan och därmed acceptansen av ett styrmedel. Även information och utbildning kan på marginalen öka acceptansen. Ett visst stöd finns även för att det kan spela roll hur ett styrmedel införs, till exempel om det sker i etapper, och om medborgarna känner att de varit delaktiga i den politiska beslutsprocessen. I den här rapporten till ESO redogör Niklas Harring och Sverker C. Jagers för de faktorer som forskningen har kunnat visa påverkar acceptansen för klimatpolitiska styrmedel och hur attityderna gentemot styrmedel kan förändras. Eftersom det är många olika faktorer som påverkar policyacceptansen i olika situationer finns ingen enskild magisk lösning för att skapa högre acceptans. Författarna förespråkar därför en ”många bäckar små”-strategi där flera olika insatser kombineras för att tillsammans öka acceptansen – allt i syfte att forma en mer legitim politik som bättre speglar medborgarnas åsikter. |
| Keywords: | Fördelningspolitik; Hållbar utveckling; Klimatpolitik; Miljömål |
| Date: | 2025–03–12 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:esorep:2025_001 |
| By: | Tamilina, Larysa |
| Abstract: | This study examines the effects of the ongoing war on social trust within Ukrainian society. The key finding suggests that the conflict contributes to a decline in trust, primarily due to its various adverse impacts on individuals. Additionally, the war appears to undermine contextual resources essential for trust-building, thereby indirectly contributing to the erosion of social trust. |
| Keywords: | Social trust, War, Conflict, SEM, Ukraine. |
| JEL: | P0 Z10 |
| Date: | 2025–04–15 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124499 |
| By: | Fitch-Polse, Dillon T.; Mohiuddin, Hossain; Willett, Dan; Nelson, Trisalyn; Favetti, Matthew; Watkins, Kari |
| Abstract: | The purpose of this study is to examine the effectiveness of active transportation projects in increasing active transportation in California. It also serves to validate the current methods of the California Active Transportation Benefit-Cost Tool. Using count and infrastructure data from the cities of Santa Barbara and Santa Cruz, California, with updated models from the California Active Transportation Benefit-Cost Tool, the authors estimated project level changes in active transportation using two methods. The first method uses a direct demand modeled before and after bicycling and pedestrian volumes. The second method is an expected increase in bicycling and pedestrian volumes based on the project parameters and their effect sizes from the academic literature. Results show that, in general, both estimates are closely aligned. However, the results also indicate that for some projects, particularly those projects with greater change in walking and bicycling, the California Active Transportation Benefit-Cost Tool can diverge from the before-after estimate substantially at the project-level. Several suggestions for future research and improvements to the tool are made. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, Active transportation, infrastructure evaluation, direct demand models, before and after, benefit-cost tool |
| Date: | 2025–05–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt6md6b2z4 |
| By: | Jacob Carlson; Melissa Dell |
| Abstract: | This paper presents a general framework for conducting efficient and robust inference on parameters derived from unstructured data, which include text, images, audio, and video. Economists have long incorporated data extracted from texts and images into their analyses, a practice that has accelerated with advancements in deep neural networks. However, neural networks do not generically produce unbiased predictions, potentially propagating bias to estimators that use their outputs. To address this challenge, we reframe inference with unstructured data as a missing structured data problem, where structured data are imputed from unstructured inputs using deep neural networks. This perspective allows us to apply classic results from semiparametric inference, yielding valid, efficient, and robust estimators based on unstructured data. We formalize this approach with MARS (Missing At Random Structured Data), a unifying framework that integrates and extends existing methods for debiased inference using machine learning predictions, linking them to a variety of older, familiar problems such as causal inference. We develop robust and efficient estimators for both descriptive and causal estimands and address challenges such as inference using aggregated and transformed predictions from unstructured data. Importantly, MARS applies to common empirical settings that have received limited attention in the existing literature. Finally, we reanalyze prominent studies that use unstructured data, demonstrating the practical value of MARS. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2505.00282 |
| By: | Prince Nartey Menzo, Benjamin; Asuamah Yeboah, Samuel; Prempeh, Kwadwo Boateng |
| Abstract: | This systematic review investigates the potential of innovative climate finance instruments, specifically green bonds, blended finance, and international climate funds, to support Ghana’s climate resilience goals without compromising fiscal sustainability. Drawing on literature from 2000 to 2025 and guided by the Environmental Kuznets Curve (EKC), Sustainable Development Finance Theory, and Debt Sustainability Analysis (DSA), the study synthesises evidence from academic articles, policy documents, and institutional reports. The findings indicate that although these instruments offer strategic pathways for mobilising investment and diversifying Ghana’s financing mix, their effectiveness is undermined by regulatory fragmentation, limited institutional capacity, and procedural inefficiencies. Green bonds are constrained by governance and disclosure gaps, blended finance suffers from weak coordination and legal ambiguities, and access to international climate funds is hindered by administrative bottlenecks. The review’s originality lies in its integration of fiscal sustainability and climate finance through a multi-theoretical lens, offering a novel synthesis of how Ghana can strategically scale climate finance amid debt constraints. To enhance the impact of these mechanisms, the study recommends a comprehensive green finance framework, institutional reform, and integration of climate-risk assessments into public financial management systems. This work contributes to bridging research and policy by outlining actionable reforms and calling for econometric research to evaluate fiscal-environmental outcomes. |
| Keywords: | Climate finance, green bonds, blended finance, Ghana, debt sustainability, environmental policy, fiscal resilience, systematic review |
| JEL: | G23 H63 O55 Q01 Q56 |
| Date: | 2025–01–14 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124517 |
| By: | Shuhei Nishitateno (Kwansei Gakuin University and RIETI); Yasuyuki Todo (Waseda University and RIETI) |
| Abstract: | China’s Belt and Road Initiative (BRI) has led to a global proliferation of large-scale infrastructure projects. From the perspective of Western nations, the impacts of BRI infrastructure investments on economic, political, and security interests pose significant concerns. This paper examines the effects of the BRI on Japanese overseas infrastructure projects and diplomatic relations between Japan and BRI countries. Using a staggered difference-in-differences research design with a panel dataset covering 138 low- and middle-income countries from 2001 to 2020, we find that the BRI crowded out Japanese infrastructure projects and reduced political leaders’ visits from BRI countries to Japan. These effects are particularly pronounced for nations in the East Asia and the Pacific and South Asia regions, where the Japan–China competition for infrastructure investments is most intense. Furthermore, we identify the expansion of Chinese overseas infrastructure projects, particularly aid-based rather than debt-financed projects, as a key mechanism driving these effects. |
| Keywords: | Belt and Road Initiative, Overseas infrastructure investments, Diplomatic relations, China, Japan |
| JEL: | F21 P00 |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:wap:wpaper:2506 |
| By: | Jose Maria Tapia; Hashim Hamandi |
| Abstract: | Unrealized securities losses at banks are down from their peak in 2022 but remain elevated. |
| Date: | 2025–05–15 |
| URL: | https://d.repec.org/n?u=RePEc:ofr:ofrblg:25-02 |
| By: | Maćkowiak, Bartosz; Wiederholt, Mirko |
| Abstract: | We introduce an information provision experiment into a standard dynamic rational inattention model. We derive analytical results about how the treatment effect varies with characteristics of the environment and the individual. We use these results to discuss findings in the empirical literature on information provision experiments that can be explained by rational inattention of survey respondents and what this interpretation implies about behavior outside the survey. JEL Classification: D8, D9, E7 |
| Keywords: | information provision experiment, randomized control trial, rational inattention |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20253054 |
| By: | Allen, Tammy D.; Schoffel, Molly; Lezcano, Alyssa |
| Abstract: | On January 20, 2025, President Donald Trump issued a Presidential Memorandum that mandated all federal employees return to in-person work full-time. Implementation guidance from the Office of Personnel Management (OPM) required rapid policy revisions. The order marks a sharp departure from prior federal telework policies, including long-standing efforts to expand flexible work as a tool for recruitment, retention, productivity, and inclusion. Contrary to claims that in-person work boosts efficiency, research shows remote work generally has no adverse impact on productivity and supports performance in both public and private sectors. The return-to-office mandate is likely to lead to turnover, particularly among highly skilled workers, creating risks of brain drain and diminished capacity to compete with the private sector for talent. It also threatens diversity, equity, and inclusion (DEI) efforts by disproportionately burdening women, caregivers, individuals with disabilities, workers of color, and LGBTQ+ employees. These changes, alongside parallel executive actions undermining DEI programs, reflect a broader return to traditional, centralized models of work built on outdated “ideal worker” norms. These changes have the potential to negatively reshape federal employment for years to come. |
| Date: | 2025–05–01 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:6zkpg_v1 |
| By: | Angela Cheptea (SMART - Structures et Marché Agricoles, Ressources et Territoires - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | The paper investigates how the overseas activity of multinational retailers (MRs) affects the global export patterns of host country firms. Recent empirical works testify that the entry of foreign retailers leads to a productivity upgrade in the domestic upstream sectors. Combined with the main result of the new international trade theory on firm heterogeneity, an increase in the export capacity of local firms should follow. The current paper establishes a connection between these empirically identified effects and the new new theory of international trade with heterogeneous firms and intermediaries. Two mechanisms are analysed. First, the higher productivity at the industry and firm level leads to an increase in the overall export capacity of local firms. Second, the expansion of transnational retail networks reinforces trade between host countries. |
| Keywords: | Export patterns, Intermediaries, Multinational retailers, Productivity gains, Transnational networks |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05043642 |
| By: | Quentin Parrinello (EU Tax - EU Tax Observatory); Giulia Varaschin (EU Tax - EU Tax Observatory); Gabriel Zucman (UC Berkeley - University of California [Berkeley] - UC - University of California, 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, EU Tax - EU Tax Observatory) |
| Abstract: | This policy note provides a revenue estimate of how much European Member States could raise with a minimum tax of 2% or 3% on the wealth of people owning more than €100 million or €1 billion in wealth – the scenarios considered in the report commissioned by the G20 presidency. |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:halshs-05046957 |
| By: | Bernardus Van Doornik; David Schoenherr; Janis Skrastins |
| Abstract: | We document that access to individual mobility reduces female mortality using random variation from motorcycle credit lotteries involving about one million individuals. The strongest determinant of reduced female mortality is fewer fatal assaults in public spaces, suggesting mobility enables women to avoid dangerous environments. Access to individual mobility also reduces fatal domestic violence exposure and facilitates transitions from high-mortality risk occupations. For men, motorcycle access yields no net mortality effect; health improvements are offset by increased motorcycle accident fatalities. Back-ofthe-envelope calculations suggest that the benefits of reduced mortality offset the cost of investing in a motorcycle for women. |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:bcb:wpaper:621 |
| By: | Alejandro Beltran (Universidad del Pacifico, Peru); Jorge Martinez-Vazquez (International Center for Public Policy, Georgia State University Author-Name: Andres Munoz; International Development Bank Author-Name: Enid Slack; University of Toronto) |
| Abstract: | The property tax in Mexico is far from reaching its potential. It has grown little over the past 25 years due to both policy and administrative shortcomings. A major issue lies in the weak management of cadastres--the systems used to identify, register, and value properties--which are often outdated or poorly maintained because of lack of interest and capacity, and inconsistent federal and state support. The effectiveness of property tax collection hinges on a strong cadastral administration, which is complex, costly and often unpopular among citizens, especially in developing countries. The debate over whether cadastral functions should be centralized or decentralized centers on a trade-off between capacity (favoring centralization) and incentives for revenue collection (favoring decentralization). Using municipal-level data from 2016 to 2022, this study analyzes how different governance structures regarding cadastral administration affect property tax revenues in Mexico, with particular focus on the role of local capacity in shaping outcomes. It finds that municipalities with low administrative capacity benefit from state-managed cadastres, while those with high capacity perform better when managing their own. These findings support an asymmetric approach to cadastral management, tailored to local capacities, to enhance revenue collection. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:ays:ispwps:paper2509 |
| By: | Schubart, Constantin; Sester, Stefanie |
| Abstract: | The world of work is evolving due to globalization, digitalization and the shift to a knowledge society. These changes present new challenges for companies and employees, emphasizing the need for a work environment that cultivates psychological safety. Which is necessary for supporting continuous learning, innovation and growth, as it enables employees to share knowledge, express concerns and ask questions without fear of negative consequences. Studies indicate that most German employees do not view their workplaces as psychologically safe. Furthermore, Germany is losing its attractiveness and competitiveness as an industrial location. This study explores how psychological safety is perceived in teams at German industrial companies and examines the impact of managers on this perception. Qualitative interviews with ten experts reveal that psychological safety within teams tends to decrease in six teams, when the manager is perceived as part of the team. This is problematic because leaders are one of the main influencing factors. Topics such as appreciation and personal development were frequently mentioned by respondents as areas with potential for improvement. Additionally, it became clear that, out of fear, employees tend to remain silent rather than openly address problems and difficult issues. The findings help to narrow the research gap in psychological safety. Future research could explore individual personality differences and compare psychological safety perceptions across different generations of employees. It is also recommended to develop more German or European research approaches on psychological safety |
| Keywords: | Psychological Safety, Industrial Companies in Germany, Organizational Learning, Innovation, Leadership |
| JEL: | L10 L84 M12 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:iubhhr:317780 |
| By: | Hasbullah, Nornajihah Nadia; Kiflee, Ag Kaifah Riyard; Arham, Ahmad Fadhly; Anwar, Saiful; Ramachandran, KK |
| Abstract: | Purpose: Electronic waste or e-waste management has emerged as a significant challenge worldwide, which demands technology-driven and innovative approaches to resolve the challenge. A profound disparity continues in existing research employing scientific mapping or bibliometric analysis to pinpoint and scrutinise e-waste recycling actions and how mobile applications mediate the process despite the proliferation of relevant studies. Design/Methodology/Approach: A bibliometric analysis was conducted by gathering data from the Scopus database. Particularly, existing journals, impactful authors, current academic trends, keywords, motivational frameworks, publication nations, and other pertinent topics were investigated by performing a systematic literature review (SLR) with bibliometric techniques on the VOSviewer software. Results: A total of 626 journal articles with 339 keywords were appraised, with the period between 2004 until 2024 being the most prolific. Both the Journal of Cleaner Production and Sustainability (Switzerland) were the leading journals while Li Jinhui of Tsinghua University, Beijing, China, was the most impactful scholar. The prior studies identify a popular motivational theories on this topic encompassed Self-Determination Theory, Theory of Consumption Values, Stimulus-Organism-Response (S-O-R) theory, Theory of Planned Behaviour (TPB), and Protection Motivation Theory (PMT). The VOSviewer software also depicted the highest contributions from the five nations, namely the United States of America (USA), China, the United Kingdom (UK), India, and Australia, which emphasised international initiatives to resolve e-waste management issues by incorporating innovative technologies. Simultaneously, keyword mapping demonstrated primary themes, including smart e-waste bins, mobile applications, and quick response (QR) codes, which highlighted the higher significance of digital solutions, such as Internet of Things (IoT) -based systems, in enhancing e-waste tracking, gathering, and recycling. Limitations: Future scholars can include other technological areas and more databases, including Web of Science. Conclusions: The existing knowledge corpus was enriched, especially the conceptual models on e-waste management via technological innovations. Mobile applications and relevant IoT applications could assist in optimising recycling processes. Hence, the findings further advanced the current discipline by critically analysing Scopus articles, suggesting future directions, and recommending effective sustainable e-waste management approaches. |
| Date: | 2025–04–28 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:48b3u_v1 |