Article
Economics
Roland von Campe
Summary: A key feature of DSGE frameworks designed to model Quantitative Easing (QE) is that they only consider net worth on bank's balance sheets, but in reality, the net worth of borrowers and lenders also plays a relevant role in financing investment projects. The modeling of the equity tandem increases the model's resilience and implies smaller gains from unconventional monetary policy. It also shows that QE redistributes net worth from banks to non-financial firms, and a credibly announced Quantitative Tightening (QT) helps stabilize the spread between capital return and deposit rate.
JOURNAL OF MACROECONOMICS
(2024)
Article
Business, Finance
Jiaqi Li, Hee-Joon Ahn
Summary: This research examines the influence of individual investor sentiment derived from social networks on stock market returns. The study finds that individual investor sentiment has an independent impact on Chinese financial markets, and negative sentiment has a stronger effect on stock returns. Additionally, there is an asymmetric pattern in the relationship between sentiment and returns across different industry types.
JOURNAL OF BEHAVIORAL AND EXPERIMENTAL FINANCE
(2024)
Article
Economics
Wenqi Duan, Mingming Jiang, Jianhong Qi
Summary: This paper examines the impact of agricultural certification policy on the economic growth of poor counties in China. The study finds that this policy contributes to rural economic growth by increasing product premiums and employment opportunities, and also improves the surrounding air quality.
ECONOMIC ANALYSIS AND POLICY
(2024)
Article
Development Studies
Shuai Shao, Le Xu, Lili Yang, Dianfan Yu
Summary: This study examines the synergistic effects of China's Top 10,000 Energy-Consuming Enterprises Program (T10000P) on environmental quality at the micro-level. Using panel data and a difference-in-differences model, the study finds that the T10000P effectively reduces chemical oxygen demand (COD) and sulfur dioxide (SO2) emissions, with greater impact on large polluters. The study also identifies green technology innovation and environmental compliance as important channels through which the policy improves environmental quality. These findings highlight the significance of energy-saving policies in improving environmental quality, particularly in developing countries.
Article
Economics
Svetlana Rujin
Summary: This study investigates the composition of total hours response to a technology shock in countries with different labor market institutions. The findings suggest that adjustments along both the extensive and intensive margins are significant, with the intensive margin playing a more important role. Furthermore, countries with flexible labor market institutions experience a larger drop in employment, while the results for the intensive margin are mixed. The cross-country differences in fluctuations along the two margins can be linked to the strictness of institutions targeting quantity and price adjustments in the labor market.
JOURNAL OF MACROECONOMICS
(2024)
Article
Economics
Reda Cherif, Fuad Hasanov
Summary: This article provides economic theories and evidence regarding development miracles and growth failures, suggesting that high growth depends on maintaining optimal policies and highlighting the value of growth miracles compared to growth failures.
STRUCTURAL CHANGE AND ECONOMIC DYNAMICS
(2024)
Article
Economics
Bishwanath Goldar, Pilu Chandra Das, Samiran Dutta
Summary: Since the 1990s economic reforms, the services sector has been the main driver of India's overall growth. The transport and storage industry, as well as financial services, have contributed significantly to the total factor productivity (TFP) growth in market services, while public administration has made a relatively high contribution to non-market services TFP growth. The productivity growth in manufacturing has had a positive impact on TFP growth in the services sector, and there is evidence of significant productivity spillover effect from developed countries to India's services sector.
STRUCTURAL CHANGE AND ECONOMIC DYNAMICS
(2024)
Article
Ecology
Sonia Almeida Neves, Antonio Cardoso Marques, Leonardo Batista de sa Lopes
Summary: This paper investigates the impact of European Union regulations on e-waste exports. The findings suggest that taxation is ineffective in reducing e-waste exports and may even increase them. Additionally, high dependence on foreign raw materials and sub-standard waste collection systems contribute to the increase in e-waste exports. Therefore, investing in e-waste collection facilities can better utilize the valuable resources in this waste.
ECOLOGICAL ECONOMICS
(2024)
Article
Economics
Christian Koch, Cornelius Mueller
Summary: Many countries allow voluntary disclosures of tax evasion under certain conditions to exempt individuals from legal prosecution. Empirical research shows that tax amnesties are most successful when enforcement efforts increase, as they help tax evaders adapt to new circumstances. However, anticipated tax amnesties can potentially reduce tax compliance, acting as insurance against an increased risk of detection. Experimental results demonstrate that this insurance effect does decrease overall tax compliance by about 9-10 percent, highlighting its importance in tax policy design.
JOURNAL OF BEHAVIORAL AND EXPERIMENTAL ECONOMICS
(2024)
Article
Demography
Luis Rosero-Bixby
Summary: This article explores the socioeconomic status inequalities in the generational economy of Ecuador and examines the impact of public transfers on inequality. The study finds that the generational economy of the low-SES population in Ecuador differs from the national average. While higher SES strata exhibit higher economic figures, there are reverse gradients in conditional public cash transfers and public education at the elementary school level for low-SES households. Retirement pensions, on the other hand, benefit mostly the high-SES strata and are extremely regressive. The article highlights the importance of uncovering SES-driven inequalities in National Transfer Accounts (NTAs) and their change through the lifecycle.
JOURNAL OF THE ECONOMICS OF AGEING
(2024)
Article
Development Studies
Bingcai Liu, Anand Roopsind, Brent Sohngen
Summary: This study examines the impact of timber concessions on deforestation and forest degradation in Guyana. The results indicate that the issuance of timber concessions increases the probability of deforestation and forest degradation. Additionally, forests with overlapping use rights for timber and mining have a higher probability of deforestation and degradation. Overlapping land use allocations result in conflicting resource use strategies that ultimately limit sustainability and the achievement of climate goals related to reducing deforestation and degradation.
Article
Ecology
Franziska Dorn, Simone Maxand, Thomas Kneib
Summary: Understanding the interconnected nature of rising carbon emissions and income inequality is crucial to achieve social and ecological sustainability. The distributional copula model used in this study uncovers complex interdependencies that standard linear regression techniques might hide.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Daniel Rueb
Summary: This paper examines the distributional effects of the European Commission's Fit-for-55 package at the household level in seven EU countries and finds that a household-size specific lump-sum refund can mitigate the negative distributional effects of a carbon tax and reduce overall inequality.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Darius Corbier, Frederic Gonand
Summary: The article investigates the macroeconomic channels of transmission of the low-carbon transition in two official scenarios for the French power system under different oil price scenarios. The results show that technical progress and substitution mechanisms can drive the decarbonization of the economy and growth, with energy demand and durable goods demand being the main transmission channels.
ECOLOGICAL ECONOMICS
(2024)
Article
Economics
David Lowing
Summary: This paper investigates the cost allocation problem in energy distribution and proposes cost allocation rules based on the distribution network and consumer demands. By comparing different principles, a family of mixed rules is introduced and analyzed in terms of solution concepts in multi-choice games.
JOURNAL OF MATHEMATICAL ECONOMICS
(2024)
Article
Ecology
Arianna Buratto, Lorenzo Lotti
Summary: Finding ways to steer consumers towards vegetarian and plant-based meals is important for reducing the environmental impact of diets. In this study, we investigated the use of nudges in restaurants to increase sales of vegetarian and plant-based dishes. We found that removing symbols for these dishes increased sales, while adding a low emissions symbol had no effect. However, when the nudge was made transparent through a statement, sales significantly increased. These findings support the use of nudges as cost-effective interventions to address unsustainable food consumption in the hospitality sector.
ECOLOGICAL ECONOMICS
(2024)
Article
Development Studies
Ruchi Patel
Summary: This paper examines the social and environmental impacts of tourism development on rural coastal communities in El Salvador, highlighting the inequalities and insecurity it creates. It argues that tourism, rather than promoting sustainable development, reinforces motives for migration and unsustainability for poor rural residents. The research calls for more inclusive and just tourism development policies in El Salvador and other Global South destinations.
Article
Economics
Yuval Ofek-Shanny
Summary: This study conducted a field experiment in Israeli middle schools and used data from PISA 2015 to examine the impact of test engagement on performance gaps between ethnic minority and majority groups. The findings suggest that test engagement can account for more than 50% of the performance gaps measured in low-stakes assessments. Test engagement is also correlated with personality traits that influence life outcomes. Policymakers should consider both test engagement and proficiency when assigning stakes to assessment tests.
ECONOMICS OF EDUCATION REVIEW
(2024)
Article
Business, Finance
Thomas Gehrig, Maria Chiara Iannino, Stephan Unger
Summary: This study provides strong evidence that measures of social responsibility contribute to increasing the resilience of banks, particularly variables related to the long-term perspective. Additionally, significant transatlantic differences are found in the findings of this international study.
JOURNAL OF FINANCIAL STABILITY
(2024)
Article
Business, Finance
Alin Marius Andries, Alexandra Maria Chiper, Steven Ongena, Nicu Sprincean
Summary: This study finds that banks can reduce their systemic risk exposure when the countries in which they are incorporated improve their net international investment positions and maintain creditor status. The reduction in risk is mainly attributed to the equity component of the net international investment position and valuation gains on the external balance sheet.
JOURNAL OF FINANCIAL STABILITY
(2024)
