nep-pay New Economics Papers
on Payment Systems and Financial Technology
Issue of 2022‒11‒14
47 papers chosen by
Bernardo Bátiz-Lazo
Northumbria University

  1. CBDC and cash in the euro area: Crowding out or co-circulation? By Rösl, Gerhard; Seitz, Franz
  2. Content Quality Assurance on Media Platforms with User-Generated Content By Xingzhen Zhu; Markus Lang; Helmut Dietl
  3. A Demand-Side View of Mobile Internet Adoption in the Global South By Chen,Rong - DECIG
  4. Mobile Internet and the Rise of Political Tribalism in Europe By Marco Manacorda; Guido Tabellini; Andrea Tesei
  5. Corporate governance with crowd investors in innovative entrepreneurial finance: Nominee structure and coinvestment in equity crowdfunding By Coakley, Jerry; Cumming, Douglas; Lazos, Aristogenis; Vismara, Silvio
  6. Blockchain and DLT in the Banking System By Imad Chehade
  7. Platform Oligopoly with Endogenous Homing: Implications for Mergers and Free Entry By Takanori ADACHI; Susumu SATO; Mark J. TREMBLAY
  8. Social Media and Newsroom Production Decisions By Julia Cagé; Nicolas Hervé; Béatrice Mazoyer
  9. Mobile Internet Adoption in West Africa By Rodriguez Castelan,Carlos; Granguillhome Ochoa,Rogelio; Lach,Samantha; Masaki,Takaaki
  10. Consumption Inequality in the Digital Age By Arvai, Kai; Mann, Katja
  11. Digital Technology Uses among Informal Micro-Sized Firms : Productivity and Jobs Outcomes in Senegal By Atiyas,Ä°zak; Dutz,Mark Andrew
  12. DigitALL for Her: Futurecasting Platform Work for Women in Rural Philippines By Peña, Paul John M.; Yao, Vince Eisen C.
  13. Greedy Transaction Fee Mechanisms for (Non-)myopic Miners By Yotam Gafni; Aviv Yaish
  14. Reap the Harvest on Blockchain: A Survey of Yield Farming Protocols By Jiahua Xu; Yebo Feng
  15. Platform Liability and Innovation By Doh-Shin Jeon; Yassine Lefouili; Leonardo Madio
  16. The sustainable practices of multinational banks as drivers of financial inclusion in developing countries By Úbeda, Fernando; Mendez, Alvaro; Martínez, Francisco Javier Forcadell
  17. Non-fungible token transactions: data and challenges By Jason B. Cho; Sven Serneels; David S. Matteson
  18. Statistical sources for assessing financial literacy By Sara Lamboglia; Fabio Travaglino
  19. Regulating Personal Data : Data Models and Digital Services Trade By Ferracane,Martina Francesca; Van Der Marel,Erik Leendert
  20. Should I stay or should I go? Migrating away from an incumbent platform By Jacques Crémer; Gary Biglaiser; André Veiga
  21. Introducing Cashless Transaction Index based on the Effective Medium Approximation By Mikrajuddin Abdullah
  22. Challenges for financial inclusion: the role for financial education and new directions By Magda Bianco; Daniela Marconi; Angela Romagnoli; Massimiliano Stacchini
  23. Micro-entrepreneurs’ financial and digital competences during the pandemic in Italy By Alessio D'Ignazio; Paolo Finaldi Russo; Massimiliano Stacchini
  24. Online Versus Offline: Which Networks Spur Protests? By Niklas Potrafke; Felix Roesel
  25. Health-related activities of Big Tech By Retiene, Roman
  26. Fair Effect Attribution in Parallel Online Experiments By Alexander Buchholz; Vito Bellini; Giuseppe Di Benedetto; Yannik Stein; Matteo Ruffini; Fabian Moerchen
  27. Enhancing online disclosure effectiveness By OECD
  28. Using Mobile Data to Understand Urban Mobility Patterns in Freetown, Sierra Leone By Arroyo Arroyo,Fatima; Fernandez Gonzalez,Marta; Matekenya,Dunstan; Espinet Alegre,Xavier
  29. Social Media as a Recruitment and Data Collection Tool: Experimental Evidence on the Relative Effectiveness of Web Surveys and Chatbots By Beam, Emily A.
  30. Do No-Surcharge Rules Increase Effective Retail Prices? By Takanori ADACHI; Mark J. TREMBLAY
  31. The Price Effects of Banning Price Parity Clauses in the EU: Evidence from International Hotel Groups By Mantovani, Andrea; Reggiani, Carlo; Broocks, Annette; Duch-Brown, Nestor; Ma, Peiyao
  32. Fintechs and the financial inclusion gender gap in Sub-Saharan African countries By Aurelien K. Yeyouomo; Simplice A. Asongu
  33. Fair cost sharing: big tech vs telcos By Jullien, Bruno; Bouvard, Matthieu
  34. Do Remittances Impact Human Development in Developing Countries? A Panel Analysis of Selected Countries By Bibi, Chan; Ali, Amjad
  35. Seller-buyer networks in NFT art are driven by preferential ties By Giovanni Colavizza
  36. How the risk of job automation in the UK has changed over time By Darke, Matthew James
  37. Analysys of the behaviour of retail investors in the financial markets during the COVID-19 crisis By Guillermo Cambronero Pérez, Gloria Ruiz Suarez
  38. Research of an optimization model for servicing a network of ATMs and information payment terminals By G. A. Nigmatulin; O. B. Chaganova
  39. A brief history of payment netting and settlement By Bindseil, Ulrich; Pantelopoulos, George
  40. Using Twitter to Evaluate the Perception of Service Delivery in Data-Poor Environments By Braley,Alia Anne; Fraiberger,Samuel Paul; Tas,Emcet Oktay
  41. Remittance dependence, support for taxation and quality of public services in Africa By Konte, Maty; Ndubuisi, Gideon
  42. Key stakeholders and actions to address Lake Beseka’s challenges in Ethiopia: A social network approach By Mekonnen, Dawit Kelemework; Tensay, Teferi M.; Yimam, Seid; Arega, Tiruwork; Beyene, Ephrem G.; Zhang, Wei; Ringler, Claudia
  43. Macroeconomic Expectations and Credit Card Spending By Galashin,Mikhail; Kanz,Martin; Perez Truglia,Ricardo
  44. Have Remittances Affected Real Unit Labor Costs in the Transition Economies of Eastern Europe, the South Caucasus, and Central Asia ? By Okello,,Jimmy Apaa; Canagarajah,Roy S.; Brownbridge,Martin
  45. From legal contracts to smart contracts and back again: Towards an automated approach By Butijn, Bert-Jan
  46. Geopolitics and the U.S. Dollar's Future as a Reserve Currency By Colin Weiss
  47. Applying Machine Learning and Geolocation Techniques to Social Media Data (Twitter) to Develop a Resource for Urban Planning By Milusheva,Svetoslava Petkova; Marty,Robert Andrew; Bedoya Arguelles,Guadalupe; Williams,Sarah Elizabeth; Resor,Elizabeth Landsdowne; Legovini,Arianna

  1. By: Rösl, Gerhard; Seitz, Franz
    Abstract: Cash usage at the point-of-sale decreased perceptibly in the past years. This is mainly due to the ongoing trend towards digitalization, but there are also indications that consumers were somewhat pushed into cashless payments by government regulations and supply-side restrictions by commercial banks. Nonetheless, overall demand for euro cash remained strong and even increased relative to GDP since the financial crisis in 2008. In this process, however, we observe a supply-driven shift towards lower banknote denominations. Central banks all over the world are intensively thinking about the potential issue of a Central Bank Digital Currency as a substitute or complement to cash. Although the characteristics of a possible digital euro have become more perceptible, its fundamental design properties remain unknown. We propose a double pre-paid scheme combining central elements of TARGET Instant Payment Settlement and electronic money features enabling offline and online instant payments. The issuance of a digital euro would be neutral to total money supply as banks act only as intermediaries. Since anonymity is categorically discarded by the ECB and as cash has some special advantages from a consumer perspective, the digital euro will rather co-circulate with cash than replace it in transactions.
    Keywords: Cash,banknotes,money,CBDC
    JEL: E41 E51 E58
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:zbw:hawdps:85&r=pay
  2. By: Xingzhen Zhu (School of Economics and Management, Nanjing University of Science and Technology); Markus Lang (Institute of Sport Sciences, University of Lausanne); Helmut Dietl (Department of Business Administration, University of Zurich)
    Abstract: This paper develops a duopoly model of user-generated content (UGC) platforms that compete for consumers and content producers in two-sided markets with network externalities. Each platform can choose the level of investment into a content quality assurance (CQA) system and the level of advertising. Our model shows that network effects are crucial in determining the platforms' optimal strategy and the behavior (single vs. multi-homing) of their users. Specifically, we find that consumers are multi-homing and producers are single-homing when the network effects obtained by producers are weak, while the opposite is true if these network effects are strong. Moreover, our model shows that the user behavior and the network effects determine whether a platform has incentives to place ads and/or invest into CQA. In general, weak network effects induce a platform to invest into a CQA system except when consumers and producers are multi-homing. The results in our model suggests the need for platform companies to assess the magnitude of network effects on their platform to predict the behavior of their users, which in turn will determine the optimal CQA and advertising strategy.
    Keywords: UGC platform; two-sided market; multi-homing; network externalities; platform investment
    JEL: C72 D85 L14
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:zrh:wpaper:395&r=pay
  3. By: Chen,Rong - DECIG
    Abstract: Mobile technologies show great potential to accelerate internet access and usage, especially in developing countries. A better understanding of key drivers and main constraints for mobile internet access is the first prerequisite for governments to design targeted policy solutions. This study exploits a household survey that collects information on information and communications technology access and usage at the household and individual levels in 22 countries in the Global South. The study finds that in addition to infrastructure investment, which has been the main focus of many developing countries, other demand-side factors are of critical importance. Across the developing world, females, the elderly, those who live in rural areas, and those who have a relatively low level of income or education are less likely to adopt mobile internet. Social network effects are found to have a significant positive impact on the usage of mobile internet. Those who have more close friends using an online social network are more likely to adopt mobile internet. Individuals whose five closest friends are using an online social network (such as Facebook or Twitter) are 63.1 percent more likely to adopt it than those without any close friends using such online social network sites/apps. Across regions, although the factors affecting the adoption of mobile internet remain largely the same, the magnitudes of their impacts vary. In Asia, gender differences are negatively associated with mobile internet. In Africa, the impact of education level is more salient than in the other two regions, implying an urgent need to improve digital literacy.
    Keywords: Educational Sciences,Information Technology,Telecommunications Infrastructure,Energy Policies&Economics,Gender and Development
    Date: 2021–03–21
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:9590&r=pay
  4. By: Marco Manacorda; Guido Tabellini; Andrea Tesei
    Abstract: We study the political effects of the diffusion of mobile Internet between 2007 and 2017, using data on electoral outcomes and on mobile Internet signal across the 84,564 municipalities of 22 European countries. We find that access to mobile Internet increased voters’ support for right-wing populist parties and for parties running on extreme socially conservative platforms, primarily in areas with greater economic deprivation. Using survey data, we also show that mobile Internet increased communitarian attitudes, such as nationalism and dislike of strangers and minorities. We conclude that mobile Internet benefitted right-wing populist parties because, in line with findings in social psychology, it fostered offline tribalism.
    Keywords: populism, communitarianism, Europe, mobile Internet
    JEL: D72 D91 L86
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:ces:ceswps:_9955&r=pay
  5. By: Coakley, Jerry; Cumming, Douglas; Lazos, Aristogenis; Vismara, Silvio
    Abstract: In innovative entrepreneurial finance markets, ventures raising funds target a set of heterogeneous “digital” investors using distinct governance mechanisms. We focus on the micro-functioning of equity crowdfunding (ECF) markets by investigating the differences in terms of agency issues and potential principal-principal conflicts arising from the coinvestment of angels or venture capitalists alongside crowd investors. The nominee governance structure, by allocating the same ownership and voting rights to all investors and aggregating them into a special purpose vehicle with the nominee company as sole legal owner, can reconcile such conflicts by mitigating agency and coordination problems. This structure enables angels and venture capital funds to exploit the wisdom of the crowd and crowd investors to free ride on the former’s due diligence and monitoring. Using a platform governance lens, this paper evaluates the performance of nominee versus direct ownership structure. Based a large sample of 1,103 successful and unsuccessful initial campaigns on the three largest equity crowdfunding platforms in the UK (namely Seedrs, Crowdcube, and SyndicateRoom), we document that nominee firms exhibit better short run and long run performance. Our results hold inter-platform between crowdfunding platforms as well as intra-platform, as confirmed by a quasi-natural experiment when the nominee approach became an option for startups raising capital on the Crowdcube platform. Our findings offer valuable insights to platforms and policymakers who could channel tax incentives via nominee schemes.
    Keywords: Crowdfunding; Platforms; Digital finance; Innovative entrepreneurial finance
    Date: 2022–10–19
    URL: http://d.repec.org/n?u=RePEc:esy:uefcwp:33709&r=pay
  6. By: Imad Chehade (LERN - Laboratoire d'Economie Rouen Normandie - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université)
    Abstract: Blockchain technology is a distributed network on decentralized machines that allows transactions to be carried out and validated. The term blockchain has covered various uses in the banking market for several years. By considering the architecture of the blockchain and the banking infrastructure, we clarify at the uses of these technologies by showing the differences between distributed ledger (DLT) and blockchain. We present the obstacles created by public blockchains and the contributions of private blockchains in order to better understand their adoption possibilities in the banking environment. We also highlight the emergence of DLTs with permission and their role in the development of the banking system. DLT experiments with permission (Madre, Corda and Libra) allow us to illustrate current practices. The analysis shows that the consortium DLT is currently the most suitable prototype to meet the needs and constraints of the banking market.
    Abstract: La technologie blockchain est un réseau distribué sur des machines décentralisées qui permet d'effectuer et de valider des transactions. Le terme blockchain recouvre des usages divers sur le marché bancaire depuis quelques années. En considérant l'architecture de la blockchain et l'infrastructure bancaire, nous clarifions les utilisations de ces technologies à partir des différences entre registre distribué (DLT) et blockchain. Nous présentons les obstacles créés par les blockchains publiques et les apports des blockchains privées afin de mieux cerner leurs possibilités d'adoption dans l'environnement bancaire. Nous mettons aussi en lumière l'émergence des DLT avec permission et leur rôle dans le développement du système bancaire. Les expérimentations des DLT avec permission (Madre, Corda et Libra) nous permettent d'illustrer les pratiques en cours. Il ressort de l'analyse que la DLT de consortium est le prototype le plus adapté actuellement pour répondre aux besoins et aux contraintes du marché bancaire.
    Keywords: blockchain technology,distributed ledger technology (DLT),banking system,decentralization,disintermediation,market infrastructure,Libra,technologie blockchain,technologie de registre distribué (DLT),système bancaire,décentralisation,désintermédiation,infrastructure du marché,consortium,Madre,Corda
    Date: 2022–08–28
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-03779240&r=pay
  7. By: Takanori ADACHI; Susumu SATO; Mark J. TREMBLAY
    Abstract: Consumer multi-homing is considered to be critical for competition policy regarding digital platforms. To assess the role of consumer multi-homing in competition policy, we embed consumer multi-homing into a model of oligopolistic competition between two-sided platforms and apply it to mergers and free entry. We find that a required level of merger-specific cost reduction is larger if consumers benefit more from multi-homing and that the equilibrium level of platform entry can be insufficient in the presence of consumer multi-homing. We also show that reductions to sellers' benefit from multi- homing reduces entry (i.e., is an e ective barrier to entry). These results contrast the popular belief that multi-homing mitigates the need for stricter competition policy.
    Keywords: Two-sided markets; Indict network externalities; Multi-homing; Platform entry; Platform mergers.
    JEL: D40 L10 L20 L40
    Date: 2022–03
    URL: http://d.repec.org/n?u=RePEc:kue:epaper:e-21-009&r=pay
  8. By: Julia Cagé (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique, CEPR - Center for Economic Policy Research - CEPR); Nicolas Hervé (INA - Institut National de l'Audiovisuel); Béatrice Mazoyer (Médialab - Médialab (Sciences Po) - Sciences Po - Sciences Po)
    Abstract: Social media affects not only the way we consume news, but also the way news is produced, including by traditional media outlets. In this paper, we study the propagation of information from social media to mainstream media, and investigate whether news editors' editorial decisions are influenced by the popularity of news stories on social media To do so, we build a novel dataset including a representative sample of all the tweets produced in French between August 1st 2018 and July 31st 2019 (1.8 billion tweets, around 70% of all tweets in French) and the content published online by 200 mainstream media outlets. We then develop novel algorithms to identify and link events on social and mainstream media. To isolate the causal impact of popularity, we rely on the structure of the Twitter network and propose a new instrument based on the interaction between measures of user centrality and "social media news pressure" at the time of the event. We show that story popularity has a positive effect on media coverage, and that this effect varies depending on the media outlets' characteristics, in particular on whether they use a paywall. Finally, we investigate consumers' reaction to a surge in social media popularity. Our findings shed new light on our understanding of how editors decide on the coverage for stories, and question the welfare effects of social media.
    Keywords: Internet,Information spreading,News editors,Network analysis,Social media,Twitter,Text analysis
    Date: 2022–05–31
    URL: http://d.repec.org/n?u=RePEc:hal:wpspec:hal-03811318&r=pay
  9. By: Rodriguez Castelan,Carlos; Granguillhome Ochoa,Rogelio; Lach,Samantha; Masaki,Takaaki
    Abstract: Mobile broadband internet is the main technology through which individuals access the internet in developing countries. Understanding the barriers to broadband adoption is thus a priority in designing policies aiming to expand access and close the digital divide across socioeconomic groups and territories. This paper exploits data from harmonized household expenditure surveys in seven countries in West Africa in 2018/19—a subregion with one of the lowest levels of mobile internet penetration in the world—to identify the main factors that limit mobile broadband internet adoption. Results show that low levels of household consumption and prices of services are two key constraints. One standard deviation increase in household expenditure, about US$65 per capita per month, is associated with a 6.5 percentage point rise in the probability of adoption, while one standard deviation drop in the price of mobile internet services, about US$3.60, increases the probability of adoption by 2.4 percentage points. Other determinants include demographic characteristics (sex, age, language, urban location), socioeconomic features (educational attainment, sector of employment), and other factors linked to policy (access to electricity, ownership of assets, alternative means of internet access). Results are robust to specifications focusing only in areas with mobile internet coverage (3G).
    Keywords: Information Technology,Telecommunications Infrastructure,Educational Sciences
    Date: 2021–03–01
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:9560&r=pay
  10. By: Arvai, Kai; Mann, Katja
    JEL: E21 E22 J31 O33 O41
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:zbw:vfsc22:264001&r=pay
  11. By: Atiyas,Ä°zak; Dutz,Mark Andrew
    Abstract: This paper explores the use of digital technologies among informal micro-sized firms in Senegal, their association with productivity, sales, exports and jobs, and the role of age and gender dimensions of enterprise owners. The study uses a new national sample of over 500 firms, of which over 90 percent are not fully formal and over 95 percent are micro-sized, employing five or fewer full-time employees. The analysis finds that using a 2G mobile phone is significantly positively correlated both with productivity and sales, and using a smartphone is associated with an additional premium relative to using a 2G. The largest statistically significant conditional correlate of productivity, sales and jobs is a more specialized internal-to-the-firm management technology proxying for management capabilities more generally, namely inventory control/point of sales (POS) software. Use of digital technologies to facilitate external-to-the-firm transactions, namely using mobile money to pay suppliers and to receive payments from customers are also statistically significant conditional correlates of productivity and sales. Using a smartphone is also positively correlated with exporting (while using only a 2G phone is not). Finally, there are significant digital divides in the use of digital technologies across age and gender groupings.
    Keywords: Labor Markets,Food&Beverage Industry,Textiles, Apparel&Leather Industry,Pulp&Paper Industry,Common Carriers Industry,Construction Industry,Business Cycles and Stabilization Policies,General Manufacturing,Plastics&Rubber Industry,Food Security,Gender and Development,Energy Policies&Economics
    Date: 2021–03–09
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:9573&r=pay
  12. By: Peña, Paul John M.; Yao, Vince Eisen C.
    Abstract: The global megatrend of the rise of digital platforms has increased labor opportunities for both men and women. Developing countries such as the Philippines have the potential to capitalize on this expansion, but opportunities may be limited where fundamental access issues exist. Gender norms and care work also play a role in determining access to opportunities and explaining alleged wage disparities. This study investigates the vision on digital jobs for the Philippines, the challenges faced, the key policy issues about digital jobs, and how the future of digital jobs looks like from the frontier of current practice and lived experiences of those specializing in online freelancing in rural areas of the Philippines. With gender and development in the countryside as the main interest of this study, we distill insights and identify key themes from a series of qualitative data collection sessions using a critical narrative approach, as well as a trendspotting and futurecasting approach to understanding the frontier. According to the literature, early adopters of online freelancing in the countryside face significant challenges in terms of access to skills, motivation, material, and usage, as well as other fundamental barriers that limit opportunities, despite ongoing programs to support the expansion of the ICT industry beyond Metro Manila and key urban cities. Policy recommendations are developed with the goal of leveling the playing field for women interested or engaged in platform work in the countryside. Comments to this paper are welcome within 60 days from the date of posting. Email publications@pids.gov.ph
    Keywords: platform work;freelancing;gender and development;countryside development;ICT
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2022-24&r=pay
  13. By: Yotam Gafni; Aviv Yaish
    Abstract: Decentralized cryptocurrencies are payment systems that rely on aligning the incentives of users and miners to operate correctly and offer a high quality of service to their users. Recent literature studies the mechanism design problem of the auction serving as the transaction fee mechanism (TFM). We show that while the protocol that requires a user to ``pay as bid'' and greedily chooses among available transactions based on their fees is not dominant strategy incentive-compatible (DSIC) for users, it has a Bayesian-Nash equilibrium (BNE) where bids are slightly shaded. Relaxing this incentive compatibility requirement circumvents the impossibility result of [16] and allows for an approximately revenue and welfare optimal, myopic miners incentive-compatibility (MMIC), and off-chain-agreement (OCA)-proof mechanism. We prove its guarantees using different benchmarks, and in particular, show it is the revenue optimal Bayesian incentive-compatible (BIC), MMIC and 1-OCA-proof mechanism among a large class of mechanisms. We move beyond the myopic model to a model where users offer transaction fees for their transaction to be accepted, as well as report their urgency level by specifying the time to live (TTL) of the transaction, after which it expires. We show guarantees provided by the greedy allocation rule, as well as a better-performing non-myopic rule. The above analysis is stated in terms of a cryptocurrency TFM, but applies to other settings, such as cloud computing and decentralized ``gig'' economy, as well.
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2210.07793&r=pay
  14. By: Jiahua Xu; Yebo Feng
    Abstract: Yield farming represents an immensely popular asset management activity in decentralized finance (DeFi). It involves supplying, borrowing, or staking crypto assets to earn an income in forms of transaction fees, interest, or participation rewards at different DeFi marketplaces. In this systematic survey, we present yield farming protocols as an aggregation-layer constituent of the wider DeFi ecosystem that interact with primitive-layer protocols such as decentralized exchanges (DEXs) and protocols for loanable funds (PLFs). We examine the yield farming mechanism by first studying the operations encoded in the yield farming smart contracts, and then performing stylized, parameterized simulations on various yield farming strategies. We conduct a thorough literature review on related work, and establish a framework for yield farming protocols that takes into account pool structure, accepted token types, and implemented strategies. Using our framework, we characterize major yield aggregators in the market including Yearn Finance, Beefy, and Badger DAO. Moreover, we discuss anecdotal attacks against yield aggregators and generalize a number of risks associated with yield farming.
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2210.04194&r=pay
  15. By: Doh-Shin Jeon; Yassine Lefouili; Leonardo Madio
    Abstract: We study a platformâs incentives to delist IP-infringing products and the effects of holding the platform liable for the presence of such products on innovation and consumer welfare. For a given number of buyers, platform liability increases innovation by reducing the competitive pressure faced by innovative products. However, there can be a misalignment of interests between innovators and buyers. Furthermore, platform liability can have unintended consequences, which overturn the intended effect on innovation. Platform liability tends to increase (decrease) innovation and consumer welfare when the elasticity of participation of innovators is high (low) and that of buyers is low (high).
    Keywords: platform, liability, intellectual property, innovation
    JEL: K40 K42 K13 L13 L22 L86
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:ces:ceswps:_9984&r=pay
  16. By: Úbeda, Fernando; Mendez, Alvaro; Martínez, Francisco Javier Forcadell
    Abstract: Lack of access to banking generates inequality in the developing world; therefore, financial inclusion is a crucial objective of the Sustainable Development Goals. We investigate the impact of sustainable practices of multinational banks (MNBs) on financial inclusion. A sample of 275 MNBs, 16 developing countries, and 16,618 individuals yield robust evidence confirming the positive effect of such practices on financial inclusion. Specifically, we find that as MNBs become sustainable, the use of mobile banking intensifies. This finding is consequential because mobile banking is one of the most powerful means to achieve financial inclusion in the developing world.
    Keywords: sustainable banking; multinational banks; financial inclusion; mobile banking; sustainable development goal; Elsevier deal
    JEL: G00 G20 G21 Q01 Q56 D63
    Date: 2022–08–24
    URL: http://d.repec.org/n?u=RePEc:ehl:lserod:116428&r=pay
  17. By: Jason B. Cho; Sven Serneels; David S. Matteson
    Abstract: Non-fungible tokens (NFT) have recently emerged as a novel blockchain hosted financial asset class that has attracted major transaction volumes. Investment decisions rely on data and adequate preprocessing and application of analytics to them. Both owing to the non-fungible nature of the tokens and to a blockchain being the primary data source, NFT transaction data pose several challenges not commonly encountered in traditional financial data. Using data that consist of the transaction history of eight highly valued NFT collections, a selection of such challenges is illustrated. These are: price differentiation by token traits, the possible existence of lateral swaps and wash trades in the transaction history and finally, severe volatility. While this paper merely scratches the surface of how data analytics can be applied in this context, the data and challenges laid out here may present opportunities for future research on the topic.
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2210.07393&r=pay
  18. By: Sara Lamboglia (Bank of Italy); Fabio Travaglino (Bank of Italy)
    Abstract: In the past decade, institutions, researchers and professionals all around the world have designed surveys with the aim of defining a metric for measuring financial literacy. However, the topic is still under discussion due to the complexity of the definition of financial literacy. In this paper, we review the main international and Italian surveys capturing financial literacy across different target groups: young people, adults and entrepreneurs. We analyse in detail the way financial literacy is defined and measured. We also report all the information gathered in each survey with a special focus on digital skill indicators, which are increasingly important in a rapidly changing financial landscape driven by digital technology.
    Keywords: Financial literacy, survey
    JEL: G53
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:bdi:opques:qef_725_22&r=pay
  19. By: Ferracane,Martina Francesca; Van Der Marel,Erik Leendert
    Abstract: While regulations on personal data diverge widely between countries, it is nonetheless possible to identify three main models based on their distinctive features: one model based on open transfers and processing of data, a second model based on conditional transfers and processing, and third a model based on limited transfers and processing. These three data models have become a reference for many other countries when defining their rules on the cross-border transfer and domestic processing of personal data. The study reviews their main characteristics and systematically identifies for 116 countries worldwide to which model they adhere for the two components of data regulation (i.e. cross-border transfers and domestic processing of data). In a second step, using gravity analysis, the study estimates whether countries sharing the same data model exhibit higher or lower digital services trade compared to countries with different regulatory data models. The results show that sharing the open data model for cross-border data transfers is positively associated with trade in digital services, while sharing the conditional model for domestic data processing is also positively correlated with trade in digital services. Country-pairs sharing the limited model, instead, exhibit a double whammy: they show negative trade correlations throughout the two components of data regulation. Robustness checks control for restrictions in digital services, the quality of digital infrastructure, as well as for the use of alternative data sources.
    Keywords: International Trade and Trade Rules,Information Security&Privacy,Export Competitiveness,ICT Legal and Regulatory Framework,ICT Policy and Strategies,ICT Applications
    Date: 2021–03–23
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:9596&r=pay
  20. By: Jacques Crémer (TSE-R - Toulouse School of Economics - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Gary Biglaiser (UNC - University of North Carolina [Chapel Hill] - UNC - University of North Carolina System); André Veiga (Imperial College London)
    Abstract: We study incumbency advantage in markets with positive consumption externalities. Users of an incumbent platform receive sto- chastic opportunities to migrate to an entrant and can either accept them or wait for a future opportunity. In some circumstances, users have incentives to delay migration until others have migrated. If they all do so, no migration takes place, even when migration would have been Pareto-superior. We use our framework to identify environments where incumbency advantage is larger. A key result is that having more migration opportunities actually increases incumbency advantage.
    Keywords: Platform,Migration,Standardization and Compatibility,Industry Dynamics
    Date: 2022–08
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-03792918&r=pay
  21. By: Mikrajuddin Abdullah
    Abstract: The effective medium approximation (EMA) method is commonly used to estimate the effective conductivity development in composites containing two types of materials: conductors and insulators. The effective conductivity is a global parameter that measures how easily the composite conducts electric current. Currently, financial transactions in society take place in cash or cashless, and, in the cashless transactions the money flows faster than in the cash transactions. Therefore, to provide a cashless grading of countries, we introduce a cashless transaction index (CTI) which is calculated using the EMA method in which individuals who make cash transactions are analogous to the insulator element in the composite and individuals who make cash transactions are analogous to the conductor element. We define the CTI as the logarithmic of the effective conductivity of a country's transactions. We also introduce the time dependent equation for the cashless share. Estimates from the proposed model can explain well the data in the last few years.
    Date: 2022–06
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2209.13470&r=pay
  22. By: Magda Bianco (Bank of Italy); Daniela Marconi (Bank of Italy); Angela Romagnoli (Bank of Italy); Massimiliano Stacchini (Bank of Italy)
    Abstract: Financial inclusion has received growing attention over the years as an enabling factor for promoting growth, reducing inequalities, and addressing poverty. In order to support policy choices aimed at enhancing financial inclusion, we investigate its main drivers, with a special focus on demand-side factors; more specifically, we enquire as to whether financial education may enhance financial inclusion. A cross-country analysis shows that, controlling for per capita GDP, higher levels of participation of individuals in economic life, greater financial knowledge and the existence of financial education strategies reduce the likelihood of a country being in the low financial inclusion segment. Moreover, as digitalization offers great opportunities to expand inclusion (but also some challenges), we provide evidence on the relationship between financial literacy and digital skills, showing that (at least in more advanced countries) digital skills are positively correlated with financial literacy from a young age. Based on our findings, we suggest some directions for future research, measurement and data collection, and policy actions.
    Keywords: Financial inclusion, financial literacy, financial education
    JEL: D14 G53 O38
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:bdi:opques:qef_723_22&r=pay
  23. By: Alessio D'Ignazio (Bank of Italy); Paolo Finaldi Russo (Bank of Italy); Massimiliano Stacchini (Bank of Italy)
    Abstract: We analyse new survey data from a representative sample of about 2,000 Italian micro-entrepreneurs to assess their level of financial and digital competences and to investigate whether these skills help them cope with unexpected shocks. We find that the financial literacy and digital skills of Italian micro-entrepreneurs are quite limited, especially for one-person businesses and owners with a lower level of education. By controlling for several business characteristics, we also find that financial literacy is significantly correlated with the transition to more digitalized business models and with greater resilience to external shocks: financially savvy entrepreneurs were better able to build liquidity buffers prior to the COVID-19 crisis and access government aid during the pandemic. As for the role of digital skills in supporting businesses during the crisis, empirical evidence is less clear-cut.
    Keywords: financial literacy, digitalization, micro-firms, Covid 19
    JEL: G53
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:bdi:opques:qef_724_22&r=pay
  24. By: Niklas Potrafke; Felix Roesel
    Abstract: Does social media or offline social cohesion overcome collective action problems more effectively when both types of networks are prevalent? We investigate non-violent protests against a place-based economic reform in Austria—a country where one in two citizens uses Facebook but also one in two citizens is a member of a local club or civic organization. Our results show that protests spread more in places with strong offline networks as measured by real-life networks like village, folklore, or dialect clubs. We do not find that social media penetration intensifies local protests, a finding corroborated by microdata.
    Keywords: online and offline networks, social media, social cohesion, civic organizations, social capital, protest, economic reform, populism
    JEL: D71 D72 Z20
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:ces:ceswps:_9969&r=pay
  25. By: Retiene, Roman
    Abstract: While the German health sector has often been criticised for its slow uptake of novel digital products, other health systems have been significantly faster in adopting these products. In the course of this development, Big Tech companies have entered these health systems, particularly in the United States and the United Kingdom. But also in Germany, the involvement of Big Tech companies has become increasingly relevant in recent years. Among these Big Tech companies are the “Big Four” (i.e. Alphabet, Apple, Meta and Amazon) but also companies like Palantir and Oracle which have reinforced their activities in the health sector without much attention of the broader public. In this paper, these health-related activities of Big Tech are described in detail. Also providers of electronic health records and hospital information systems like Epic Systems and Cerner and German companies like the Deutsche Telekom and SAP are taken into account. All in all, fourteen companies are covered and their activities are divided into six categories to facilitate an overview and reveal the different focuses of the companies.
    Keywords: Big Tech, health data, eHealth
    JEL: I11 L00 L86 O30 O31 O33 O34
    Date: 2022–10–19
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:115080&r=pay
  26. By: Alexander Buchholz; Vito Bellini; Giuseppe Di Benedetto; Yannik Stein; Matteo Ruffini; Fabian Moerchen
    Abstract: A/B tests serve the purpose of reliably identifying the effect of changes introduced in online services. It is common for online platforms to run a large number of simultaneous experiments by splitting incoming user traffic randomly in treatment and control groups. Despite a perfect randomization between different groups, simultaneous experiments can interact with each other and create a negative impact on average population outcomes such as engagement metrics. These are measured globally and monitored to protect overall user experience. Therefore, it is crucial to measure these interaction effects and attribute their overall impact in a fair way to the respective experimenters. We suggest an approach to measure and disentangle the effect of simultaneous experiments by providing a cost sharing approach based on Shapley values. We also provide a counterfactual perspective, that predicts shared impact based on conditional average treatment effects making use of causal inference techniques. We illustrate our approach in real world and synthetic data experiments.
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2210.08338&r=pay
  27. By: OECD
    Abstract: Online disclosures can play a key role in informing consumer decisions. However, cognitive limitations such as information overload, as well as technical ones such as small screen sizes on mobile devices, may limit their effectiveness. Additionally, businesses may sometimes focus on technical compliance with disclosure requirements rather than maximising their effectiveness in informing consumer decisions. This report supports consumer authorities in enhancing disclosure effectiveness by providing i) a systematic overview of key disclosure characteristics; ii) guidance on the effective design of disclosures based on a review of the empirical literature; iii) an overview of overarching challenges to disclosure effectiveness and iv) an overview of possible ways to address them, including possible policy alternatives when disclosures may not be sufficient on their own.
    Date: 2022–10–25
    URL: http://d.repec.org/n?u=RePEc:oec:stiaab:335-en&r=pay
  28. By: Arroyo Arroyo,Fatima; Fernandez Gonzalez,Marta; Matekenya,Dunstan; Espinet Alegre,Xavier
    Abstract: In recent years, researchers have demonstrated that digital footprints from mobile phones can be exploited to generate data that are useful for transport planning, disaster response, and other development activities—thanks mainly to the high penetration rate of mobile phones even in low-income regions. Most recently, in the effort to mitigate the spread of COVID-19, these data can be used and explored to track mobility patterns and monitor the results of lockdown measures. However, as rightly noted by other scholars, most of the work has been limited to proofs of concept or academic work: it is hard to point to any real-world use cases. In contrast, this paper uses mobile data to obtain insight on urban mobility patterns, such as number of trips, average trip length, and relation between poverty, mobility, and areas of Freetown, the capital of Sierra Leone. These data were used in preparation of an urban mobility lending operation. Additionally, the paper describes good practices in the following areas: accessing mobile data from telecom operators, frameworks for generating origin and destination matrices, and validation of results.
    Keywords: Transport Services,Telecommunications Infrastructure,ICT Applications
    Date: 2021–01–20
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:9519&r=pay
  29. By: Beam, Emily A. (University of Vermont)
    Abstract: Online technologies enable lower-cost, rapid data collection, but concerns about access and data quality impede their use in global research. I conduct a randomized experiment in the Philippines to test the effectiveness of web-form and chatbot surveys of K–12 teachers recruited through social media and compare their effectiveness with phone surveys of teachers recruited from a pre-existing frame. Chatbot surveys yield higher response rates and higher-quality data than web-form surveys in terms of missed question and item differentiation. The results suggest that chatbot responses match CATI responses on multiple dimensions of quality. Relative to CATI, online methods also yield higher rates or information disclosure on potentially sensitive topics, revealing substantially higher levels of distress among teachers. I show that social-media-based recruitment can be an attractive alternative for targeted sampling and that online surveys can be implemented effectively at a fraction of the cost of phone surveys.
    Keywords: remote surveys, survey experiments, chatbots, social media, remote education
    JEL: C81 C83 C93 O15 I21
    Date: 2022–09
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp15597&r=pay
  30. By: Takanori ADACHI; Mark J. TREMBLAY
    Abstract: In this paper, we determine how a no-surcharge rule (NSR) impacts effective prices in retail markets (prices that include any consumer payment rewards). This question is fundamentally related to policy, and we provide robust answers by considering how a variety of market structures are impacted by multiple payment methods and different surcharging rules. We find that when a no-surcharge rule is applied, effective prices in a particular market are often higher across all payment methods. In this case, the no-surcharge rule protects a double marginalization effect where the premium payment method inserts an additional margin that harms all consumers and all merchants, and this loss in welfare can be rectified by allowing merchant surcharging across payment methods. Our results are robust across retail market structures, suggesting that NSRs are generally harmful (except for the payment companies).
    Keywords: Credit cards, merchant fees, consumer rewards, Ohio v.s. American Express
    JEL: L10 L20 L42
    Date: 2022–08
    URL: http://d.repec.org/n?u=RePEc:kue:epaper:e-22-003&r=pay
  31. By: Mantovani, Andrea; Reggiani, Carlo; Broocks, Annette; Duch-Brown, Nestor; Ma, Peiyao
    Abstract: Dominant platforms such as Booking.com and Amazon often impose Price Parity Clauses to prevent sellers from charging lower prices on alternative sales channels. We provide quasi-experimental evidence on the full removal of these price restrictions in France in 2015 for three major international hotel groups. Our analysis reveals a limited and non-significant effect on room prices. The external validity of this finding is established by focusing on similar policy interventions in Germany in 2016 and Austria in 2017. Our results imply that the prohibitions of Price Parity Clauses turned out to be ineffective in sizeably reducing final prices for consumers.
    JEL: D40 K21 L10 L42
    Date: 2022–10–11
    URL: http://d.repec.org/n?u=RePEc:tse:wpaper:127422&r=pay
  32. By: Aurelien K. Yeyouomo (University of Yaoundé 2, SOA, P.O. Box 1365); Simplice A. Asongu (Yaoundé, Cameroon)
    Abstract: This study addresses the issue of financial innovation in developing countries, focusing specifically on the role fintechs have in closing the gender gap of financial inclusion in Sub-Saharan Africa (SSA) over the period 2011-2017. The empirical evidence is based on the multilevel tobit regression model fitted to panel data. The results of this study show that fintechs reduce the financial inclusion gender gap by mitigating the gender gap in access to and use of financial services. Furthermore, they cast doubt on the ability of fintechs development to bridge this gap on its own, and hint on the joint importance of targeted policy initiatives aimed at directly closing the gender gap to this end. These findings have important economic policy implications and provide evidence of improved economic conditions for women in terms of financial inclusion leading to a narrowing of the gender gap.
    Keywords: Fintechs development, financial inclusion gender gap, Tobit, SSA
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:agd:wpaper:22/083&r=pay
  33. By: Jullien, Bruno; Bouvard, Matthieu
    Abstract: We study a cost-sharing mechanism where a content provider contributes to covering the costs incurred by a network operator when delivering content to consumers. The costshare not only boosts the content provider's incentives to moderate trac but also aects the price composition for consumers buying access and content. We show the overall eect on consumer welfare depends on the content provider's ability to monetize users. When that ability is high, introducing a cost-share can lead to lower overall prices and higher consumer welfare. We study the robustness of this result to long-term investments in cost reduction by the operator and to heterogeneity in consumers' taste for content. In extensions with multiple contents and multiple operators, contractual externalities arise that suggest a role for regulation.
    Date: 2022–10–25
    URL: http://d.repec.org/n?u=RePEc:tse:wpaper:127462&r=pay
  34. By: Bibi, Chan; Ali, Amjad
    Abstract: Remittances are the part of migrant workers and essentially cash exchanges earned abroad and sent to their families. Worker remittances are an important part of international capital flows. The volume of remittances increments in developing countries day by day and season through season. Remittances are the backbone of developing economies. We have used annual cross-section data from the period 2014 from 100 developing countries including Afghanistan, Pakistan, Turkey, Bangladesh, Iraq, and China. Results show that there is a positive and insignificant relationship between remittances and human development in each of the selected developing countries.
    Keywords: remittances, human development, developing countries
    JEL: F24 J24
    Date: 2021
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:114864&r=pay
  35. By: Giovanni Colavizza
    Abstract: Non-Fungible Tokens (NFTs) have recently surged to mainstream attention by allowing the exchange of digital assets via blockchains. NFTs have also been adopted by artists to sell digital art. One of the promises of NFTs is broadening participation to the arts market, a traditionally closed and opaque system, to sustain a wider and more diverse set of artists and collectors. A key sign of this effect would be the disappearance or at least reduction in importance of seller-buyer preferential ties, whereby the success of an artist is strongly dependent on the patronage of a single collector. We investigate NFT art seller-buyer networks considering several galleries and a large set of nearly 40,000 sales for over 230M USD in total volume. We find that NFT art is a highly concentrated market driven by few successful sellers and even fewer systematic buyers. High concentration is present in both the number of sales and, even more strongly, in their priced volume. Furthermore, we show that, while a broader-participation market was present in the early phase of NFT art adoption, preferential ties have dominated during market growth, peak and recent decline. We consistently find that the top buyer accounts on average for over 80% of buys for a given seller. Similar trends apply to buyers and their top seller. We conclude that NFT art constitutes, at the present, a highly concentrated market driven by preferential seller-buyer ties.
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2210.04339&r=pay
  36. By: Darke, Matthew James (University of Warwick)
    Abstract: Developments in Artificial Intelligence and Machine Learning technologies have had massive implications for labour automation. This paper builds on the task-based methodology first adopted by Frey and Osborne (2013) to predict how the risk of automation evolved in the UK labour between 2012 and 2017 using data from the UK Skills and Employment Survey. The analysis accounts for technological progress, making use of two sets of experts’ assessments for 70 occupations. The probability of automation is predicted for each individual using a set of self-reported job skills. It finds that the proportion of jobs at high-risk from automation has risen from 10.6% to 23.4%, and that this is largely due to better technology rather than changing job skill requirements. It also identifies sectors experiencing the greatest increase in automation risk between the two periods and, in contrast, those which appear complementary to technology, drawing on occupational case studies as evidence.
    Keywords: Employment ; Skills Demand ; Technology JEL Classification: J01 ; J21 ; J24 ; J62 ; O33
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:wrk:wrkesp:41&r=pay
  37. By: Guillermo Cambronero Pérez, Gloria Ruiz Suarez
    Abstract: This paper describes the development in trading by retail investors in the securities market in 2019 and 2020 to identify possible changes in times of heightened uncentainty of the crisis. This article is the first that the CNMV has carried out focusing on this type of analysis and it highlights the significant increase in trading by natural persons in the context of the crisis. The increase in trading was due to the sharp rise in the number of trades executed of a smaller size, together with an extraordinary increment in the number of new investors. The abrupt movements in equity prices in 2020, together with the easy access to trading on markets deriving from the use of new technologies were the catalyst of this process, The results contained in this article are accompanied by the publication of an interactive web-based dashboard, which can be accessed by all users using any electronic device.
    Keywords: COVID-19, Retail Investors, data analysis
    JEL: A10 G11 G01
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:cnv:wpaper:dt_78en&r=pay
  38. By: G. A. Nigmatulin; O. B. Chaganova
    Abstract: The steadily high demand for cash contributes to the expansion of the network of Bank payment terminals. To optimize the amount of cash in payment terminals, it is necessary to minimize the cost of servicing them and ensure that there are no excess funds in the network. The purpose of this work is to create a cash management system in the network of payment terminals. The article discusses the solution to the problem of determining the optimal amount of funds to be loaded into the terminals, and the effective frequency of collection, which allows to get additional income by investing the released funds. The paper presents the results of predicting daily cash withdrawals at ATMs using a triple exponential smoothing model, a recurrent neural network with long short-term memory, and a model of singular spectrum analysis. These forecasting models allowed us to obtain a sufficient level of correct forecasts with good accuracy and completeness. The results of forecasting cash withdrawals were used to build a discrete optimal control model, which was used to develop an optimal schedule for adding funds to the payment terminal. It is proved that the efficiency and reliability of the proposed model is higher than that of the classical Baumol-Tobin inventory management model: when tested on the time series of three ATMs, the discrete optimal control model did not allow exhaustion of funds and allowed to earn on average 30% more than the classical model.
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2210.09927&r=pay
  39. By: Bindseil, Ulrich; Pantelopoulos, George
    Abstract: In earlier times, societies relied extensively on "IOUs" ("I owe you") to avert the need for settlement in specie. However, an IOU reliant economy is complex and fraught with financial stability risks. These problems can be overcome through clearing, netting and settlement, either without or with novation. From the perspective of creditors, the most expedient solution is for residual claims to be denominated in a large-scale, riskfree and divisible IOU that is analogous to settlement in specie, but without incurring the disadvantages ofsettlement in preciousmetalcoins. If such solutions are not feasible, it is then desirable that (1) networks of IOUs are simplified through netting, and (2) residual claims are denominated in relatively high-quality claims, which can be readily converted into risk-free positions. The purpose of this paper is to explore how such outcomes have been achieved through the lens of history. As will be shown - whilst netting and settlement with novation is an effective technique to mitigate financial instability risks - it is only through central banks acting as correspondents to the domestic financial system that the drawbacks of the IOU economy can be alleviated to the largest extent in order to attain lean balance sheets, lower credit risk and improved financial stability. At the same time, such a solution also ensures that the financial system remains layered.
    JEL: F33 G21 N20 N24
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:zbw:ibfpps:0222&r=pay
  40. By: Braley,Alia Anne; Fraiberger,Samuel Paul; Tas,Emcet Oktay
    Abstract: Evaluating service delivery needs in data-poor environments presents a particularly difficult problem for policymakers. The places where the need for social services are most acute are often the very same places where assessing policy interventions is the most challenging. This paper uses Twitter data to gain insights into service delivery needs in a data-poor environment. Specifically, it examines the development priorities of citizens in the north- western region of Pakistan between 2007 and 2020, using natural language processing techniques (NLP) and sentiment analysis of 9.5 million tweets generated by 20,000 unique Twitter users. The analysis reveals that service delivery priorities in this context are centered on access to education, healthcare, food, and clean water. The findings provide baseline data for future on-the-ground research and development initiatives. In addition, the methodology used in this paper demonstrates both current resources and areas in need of future work in the use of NLP techniques in analyzing social media data in other contexts.
    Keywords: ICT Applications,Hydrology,Food Security,Nutrition,Educational Sciences,Information Technology
    Date: 2021–03–10
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:9575&r=pay
  41. By: Konte, Maty (Maastricht Graduate School of Governance, RS: GSBE other - not theme-related research); Ndubuisi, Gideon (RS: GSBE other - not theme-related research, Mt Economic Research Inst on Innov/Techn)
    Abstract: We explore the heterogeneous effect of migrant remittances on citizens' support for taxation using a sample comprising 45,000 individuals from the Afrobarometer survey round 7 [2016-2018] across 34 African countries. To correct for unobserved heterogeneity, we endogenously identify latent classes/subtypes of individuals that share similar patterns on how their support for taxation is affected by their unobserved and observed characteristics, including remittances dependency. We apply the finite multilevel mixture of regressions approach, a supervised machine learning method to detect hidden classes in the data without a priori assumptions on class/subtype membership or how remittance dependency affects support for taxation across the classes. Our data is best generated by an econometric model with two classes/subtypes of individuals. In class 1 where more than two-thirds of the citizens in our sample belong, we do not find any significant evidence that remittance dependence affects support for taxation. However, in class 2 where the remaining one-third of the citizens belong, we find a significant negative effect of remittance dependence on support for taxation. We further examine whether citizens' valuation of the quality of public services is an important factor in determining the classification of individuals into classes. We find that citizens who have a positive appraisal of the quality of the public service delivery have a lower probability of belonging to the class/subtype in which depending on remittances reduces support for taxation.
    JEL: D01 H41 O55
    Date: 2022–05–30
    URL: http://d.repec.org/n?u=RePEc:unm:unumer:2022019&r=pay
  42. By: Mekonnen, Dawit Kelemework; Tensay, Teferi M.; Yimam, Seid; Arega, Tiruwork; Beyene, Ephrem G.; Zhang, Wei; Ringler, Claudia
    Abstract: Lake Beseka is a shallow, saline, endorheic lake in the East African Rift Valley of Ethiopia that has dramatically grown in size due to large-scale irrigation development in its catchment area. Recent artificial connections of the lake with the Awash River system to contain lake size have led to a series of changes and impacts on different water users, but are not reflected in lake and Awash River governance and institutions. Understanding who are the key actors affecting Lake Beseka and strengthening their linkages can help identify solutions that sustainably contain or reduce the lake’s size, improve its water quality, and address costs to nearby and downstream populations as well as the environment. Thus, this study analyzed qualitative data collected from net-mapping – a network analysis that identifies actors or stakeholders as well as linkages and relative power positions among stakeholders. The resulting network reflects the complexity of the water governance system including upstream actors who affect the size and quality of the lake as well as downstream actors who suffer from adverse consequences. The Awash Basin Development Authority, Metehara Sugar Factory, regional bureaus, and federal ministries were identified as the most influential actors affecting how Lake Beseka is used and managed. Actors most affected by the lake expansion and quality problems such as downstream communities currently have no role in the governance of the lake. Metehara Municipality, woreda offices, research institutes, and farmers were considered to have moderate influence. Stakeholders who participated in the net-mapping workshops identified flooding, salinity, water-related conflict, and health effects as the four main challenges of the lake. The study suggests that developing multi-stakeholder partnerships or platforms across most influential and most affected actors could support a more comprehensive understanding of the multiple challenges Lake Beseka is posing. It could also foster the development of more integrated solutions that support the different stakeholders in the lake catchment area and the Awash River Basin.
    Keywords: ETHIOPIA; EAST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; net-mapping; water governance system; Lake Beseka; Awash Basin; Awash River; water governance; governance; water quality; water
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:fpr:ifprid:2135&r=pay
  43. By: Galashin,Mikhail; Kanz,Martin; Perez Truglia,Ricardo
    Abstract: How do macroeconomic expectations affect consumer decisions? This paper reports results from a natural field experiment with 2,872 credit card customers from a large commercial bank to answer this question. Participants of the experiment first completed as survey that measured consumer expectations about future inflation and the nominal exchange rate. This survey was combined with an information-provision experiment that generated exogenous variation in respondents’ macroeconomic expectations. The survey and experimental data were then merged with detailed administrative data on participants’ credit card transactions and balances. The experiment was designed to test three standard predictions from models of intertemporal consumption choice: inflation expectations should affect spending on durables; exchange rate expectations should affect spending on tradables; and, holding constant the nominal interest rate, inflation expectations should affect borrowing. The analysis finds that the information provided to participants strongly affects subjective expectations. However, no significant effects are found on actual consumer behavior (as measured in administrative data) or self-reported consumption plans (as measured in survey data). The preferred interpretation is that consumers are not sophisticated enough to factor inflation and exchange rate expectations into their consumption decisions. The absence of a link between consumer expectations and behavior has potentially important implications for macroeconomic policies such as forward guidance.
    Keywords: Inflation,Financial Sector Policy,Consumption,Fiscal&Monetary Policy,Educational Sciences,Financial Structures
    Date: 2021–01–25
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:9524&r=pay
  44. By: Okello,,Jimmy Apaa; Canagarajah,Roy S.; Brownbridge,Martin
    Abstract: Twelve of the 29 transition economies in Europe and Central Asia are high remittance recipients, with average remittance receipts equivalent to 5 percent or more of their gross domestic product in the 2010s. The paper examines the evolution, during the 2000s and 2010s, of real unit labor costs, denominated in local currency and U.S. dollars, of the transition economies. Local currency and U.S. dollar real unit labor costs rose much faster between 2003 and 2015-17 in the high remittance recipient economies than in the other transition economies, although there was considerable variance between the countries in the high remittance recipient group. Among the high remittance recipients, approximately half of the increase in real unit labor costs denominated in U.S. dollars can be attributed to increases in local currency real unit labor costs and half to appreciation of their real exchange rates. Fixed effects and cross-country econometric estimates suggest that remittances had a positive and significant impact on the changes in domestic currency real unit labor costs in the transition economies.
    Keywords: Rural Labor Markets,International Trade and Trade Rules,Migration and Development,Labor Markets
    Date: 2021–01–19
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:9513&r=pay
  45. By: Butijn, Bert-Jan (Tilburg University, School of Economics and Management)
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:tiu:tiutis:cb0ba26e-6644-481d-b11c-9c00b8c5768d&r=pay
  46. By: Colin Weiss
    Abstract: I survey the role of geopolitics and sanctions risk in shaping the U.S. dollar's status as the primary currency used for international reserves. Without changes in the economic incentives for holding FX reserves in U.S. dollar assets, an increased threat of sanctions is unlikely to drastically reduce the dollar share of FX reserves. Currently, around three-quarters of foreign government holdings of safe U.S. assets are by countries with some military tie to the U.S. Even a reduced reliance on the U.S. dollar for trade invoicing and debt denomination by a large bloc of countries less geopolitically aligned with the U.S. would be unlikely to end U.S. dollar dominance.
    Keywords: Foreign Exchange Reserves; Sanctions; Security Alliances
    JEL: F53 F51 F31
    Date: 2022–10
    URL: http://d.repec.org/n?u=RePEc:fip:fedgif:1359&r=pay
  47. By: Milusheva,Svetoslava Petkova; Marty,Robert Andrew; Bedoya Arguelles,Guadalupe; Williams,Sarah Elizabeth; Resor,Elizabeth Landsdowne; Legovini,Arianna
    Abstract: With all the recent attention focused on big data, it is easy to overlook that basic vital statistics remain difficult to obtain in most of the world. This project set out to test whether an openly available dataset (Twitter) could be transformed into a resource for urban planning and development. The hypothesis is tested by creating road traffic crash location data, which are scarce in most resource-poor environments but essential for addressing the number one cause of mortality for children over age five and young adults. The research project scraped 874,588 traffic-related tweets in Nairobi, Kenya, applied a machine learning model to capture the occurrence of a crash, and developed an improved geoparsing algorithm to identify its location. The project geolocated 32,991 crash reports in Twitter for 2012-20 and clustered them into 22,872 unique crashes to produce one of the first crash maps for Nairobi. A motorcycle delivery service was dispatched in real-time to verify a subset of crashes, showing 92 percent accuracy. Using a spatial clustering algorithm, portions of the road network (less than 1 percent) were identified where 50 percent of the geolocated crashes occurred. Even with limitations in the representativeness of the data, the results can provide urban planners useful information to target road safety improvements where resources are limited.
    Keywords: ICT Applications,Disease Control&Prevention,Public Health Promotion,Road Safety,Intelligent Transport Systems,Transport Services,Crime and Society
    Date: 2020–12–04
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:9488&r=pay

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