Article
Economics
Ming Zhang, Xianyang Zeng, Zhijia Tan
Summary: This study investigates the choice of green fuel and green technology for ships and derives the sufficient and necessary conditions for adopting scrubber installation strategy. The study finds that introducing scrubber technology can reduce evasion behavior of ships but also increase total emissions in coastal areas.
Article
Economics
Qin Xiao, Ye Deng, Chunping Zhong, Mengjiao Wang, Yuechuan Zhao
Summary: This paper investigates the optimal design and implementation of childcare subsidies in China. Using a combination of the optimal subsidy model and the Chinese context, the study constructs an optimal childcare subsidy model based on families as units. By utilizing the CFPS database, the paper simulates the amount of childcare subsidies for different levels of market productivity and calculates the optimal subsidy amount. The results suggest that direct subsidies should be provided to families with lower wages than the market price of childcare, while indirect subsidies should be provided to families with higher wages. Finally, the study derives the optimal childcare subsidy curve and designs a macro optimal subsidy curve that can be easily implemented.
Article
Economics
Jayadevan CM, Subba Reddy Yarram, Nam Trung Hoang
Summary: The study examines the impact of innovation and economic globalization on economic growth and escaping the middle-income trap. The results show that factors such as education, insurance premiums, labor productivity, and internet usage contribute to faster transition to high-income status and shorter transition duration.
Article
Economics
Pengfei Chu, Guanxia Xie, Yuxia Zhang
Summary: This study uses the conditional logit model to explore the impact of anti-corruption publicity on internal migrants' probability of choosing a specific city in China. The findings suggest that anti-corruption publicity significantly decreases the likelihood of migrants choosing a particular city. This is driven by the increased perception of corruption and reduced trust in local government officials due to anti-corruption publicity. The negative effects persist even after migrants have moved to the city.
Article
Economics
Benjamin Holmes, Ian G. Mchale
Summary: The paper introduces a model for predicting football match outcomes by incorporating the abilities of players into the model. The dynamic nature of team strengths is directly considered in this approach. Experimental results show that the new model leads to significant positive returns in prediction and betting.
INTERNATIONAL JOURNAL OF FORECASTING
(2024)
Article
Economics
Jin Xiao, Yu Zhong, Yanlin Jia, Yadong Wang, Ruoyi Li, Xiaoyi Jiang, Shouyang Wang
Summary: In this study, we propose a novel deep ensemble credit scoring model for internet finance using a combination of variational autoencoder and deep forest. Our model shows good performance in dealing with highly class-imbalanced and non-linear datasets and exhibits strong ability to learn complex distributions.
INTERNATIONAL JOURNAL OF FORECASTING
(2024)
Article
Economics
Matthew F. Tomlinson, David Greenwood, Marcin Mucha-Kruczynski
Summary: This study presents an improved two-tailed extreme value model that is adapted for quantile forecasting in both the left and right tails of financial time series. Results show similar asymmetries in the model parameters across multiple indices, supporting the temporal leverage effect in financial price time series. Out-of-sample testing demonstrates that the proposed model outperforms the traditional GARCH-EVT model in forecasting value at risk and expected shortfall.
INTERNATIONAL JOURNAL OF FORECASTING
(2024)
Article
Business, Finance
Yi Fan, Yang Gao
Summary: This study examines the impact of short selling on stock prices using Chinese equity data from April 2009 to August 2020. The findings show that increased short selling activity leads to faster stock price adjustments and quicker responses to public information. Additionally, short sellers act as contrarian traders during periods of extreme stock price fluctuations, reducing the risk of stock price crashes. Moreover, in emerging markets dominated by individual investors, sentiment plays a crucial role in short sellers' ability to mitigate market crashes.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
Article
Business, Finance
Burcu Kapar, Syed Mabruk Billah, Faisal Rana, Faruk Balli
Summary: This study examines the intra-regional patterns of return and volatility spillovers between economic sectors in the GCC. The findings show that the intensity of spillovers is regime-dependent and increases during turmoil periods. The financial sector has the highest level of contagion, while the energy sector has the lowest. Liquidity and profitability significantly affect the extent of spillovers, which are highly dispersed across sectors.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
Article
Economics
Carlos Charris, Danyelle Branco, Bladimir Carrillo
Summary: Using data from over 3,000 Brazilian municipalities over 25 years, the study investigates the impact of trade liberalization on infant mortality. The findings suggest that areas with greater exposure to trade-induced economic shock experienced a larger decline in infant mortality. The decrease in female employment rates and increased use of basic health services among women of childbearing ages and infants were identified as the main mechanisms behind this effect. The introduction of community-based health interventions also helped lower the mortality rate.
JOURNAL OF DEVELOPMENT ECONOMICS
(2024)
Article
Economics
Jing Li, Qian Yu, Ding Ma
Summary: This study utilizes a multilevel network model to analyze the impact of high-speed rail on intercity technology transfer. It finds that high-speed rail facilitates intercity technology transfer and promotes innovation convergence. The centrality of cities has an effect on technology transfer, and the effect of high-speed rail is more significant in directly connected cities.
Article
Business, Finance
Chun Chen, Fangyi He, Lei Lin
Summary: This paper examines the relationship between prospect value and stock return under the anchoring effect. The findings indicate that high prospect value stocks are overpriced, while low prospect value stocks are underpriced in the Chinese stock market. However, this negative relationship is only observed in stocks far from the 52-week high and disappears near the 52-week high. Additionally, the interaction between the 52-week high and prospect value is mainly driven by the loss aversion feature.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
Article
Business, Finance
Anis Omri, Bassem Kahouli, Montassar Kahia
Summary: This research investigates the relationship between environmental sustainability and human health outcomes in Saudi Arabia, considering factors such as information and communication technology and technological innovation. The findings suggest that advanced technologies can enhance the influence of environmental performance on human health outcomes.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
Article
Economics
Ismail Kurt, Murat Aymelek
Summary: This study examines the interoperability requirements between autonomous cargo ships and ports for effective integration. Through a survey questionnaire, expert opinions on ship and port operations are analyzed to determine the interoperability characteristics for improving port operations. The findings of this research are of significant importance in shaping the future of smart and autonomous freight transport and logistics.
Article
Development Studies
Stephen Devadoss, William Ridley
Summary: The Russian invasion of Ukraine in 2022 has had a significant impact on global wheat markets, causing prices to increase in most countries except Ukraine. Other wheat exporting countries have increased their exports, but many importing countries have experienced reduced wheat consumption. Russia has benefited from exporting wheat to importing countries that previously relied on Ukrainian wheat.
Article
Business, Finance
Chung-Chi Chen, Yu-Lieh Huang, Fang Yang
Summary: Previous studies used keyword-based matching method to construct indices, which neglected semantics and generated excessive noise. This paper proposes a neural network model to remove noise caused by keyword matching, and demonstrates that the de-noised EPU index can predict economic variables accurately and generate superior forecasts.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
Article
Business, Finance
Svetoslav Covachev, Vijay Yadav
Summary: The flow-performance sensitivity (FPS) of mutual funds is affected by the composition of sectoral holdings. An increase in defensive or sensitive stocks decreases FPS, while an increase in cyclical stocks increases FPS. FPS increases during high sentiment periods. However, in both low and high sentiment periods, funds with a higher proportion of defensive or sensitive stocks have lower FPS, while funds with a higher proportion of cyclical stocks have higher FPS. Investors with a long investment horizon should be cautious of mutual funds primarily investing in cyclical stocks due to higher liquidity costs.
NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE
(2024)
Article
Business, Finance
Dojoon Park, Yong Joo Kang, Young Ho Eom
Summary: This study examines the relationship between the COVID-19 pandemic and stock returns, finding that pandemic risk is a significant determinant of stock returns. The study introduces the time-varying effective reproduction number as a proxy measure for COVID-19 risk and shows that the COVID-19 factor commands a significant positive risk premium. The results are robust to various test assets, serial interval parameters, portfolio construction methods, and alternative proxy measures, providing strong empirical evidence that the COVID-19 factor is a priced risk factor during the pandemic.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
Article
Business, Finance
Hongru Tan, Xuezheng Chen
Summary: This paper investigates the welfare implications of banning the no surcharge rule (NSR) in credit card markets and finds that lifting the NSR decreases social welfare in both closed and open systems.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
Article
Business, Finance
Michele Moretto, Bruno M. Parigi
Summary: This article examines the impact of limiting government bond redemptions on the economy and finds that it may cause a run on funds. The model analyzes the exit behavior and decisions of different economic agents, as well as the propagation of negative shocks.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
