Article
Economics
Dario Caldara, Matteo Iacoviello
Summary: This paper presents a news-based measure of adverse geopolitical events and their risks. The geopolitical risk index is particularly high during significant historical events such as world wars, the Korean War, the Cuban Missile Crisis, and after 9/11. Higher geopolitical risk leads to lower investment and employment, as well as increased probability of disasters and larger downside risks. This risk is driven by both the threat and occurrence of adverse geopolitical events. Industry- and firm-level indicators also show that investment declines more in industries exposed to geopolitical risk, and higher firm-level geopolitical risk is associated with lower investment.
AMERICAN ECONOMIC REVIEW
(2022)
Article
Economics
Chi-Chuan Lee, Chien-Chiang Lee
Summary: This study examines the impact of green finance development on green productivity using panel data of 30 Chinese provinces from 2006 to 2018. The findings reveal that green finance development significantly improves green productivity, especially in provinces with better economic and social conditions, less public participation in environmental protection, and higher pollution levels. Additionally, implementing green finance policies can further enhance the effect of green finance development.
Article
Business, Finance
Florian Berg, Julian F. Kolbel, Roberto Rigobon
Summary: This paper investigates the divergence in ESG ratings among six prominent rating agencies. Through mapping different methodologies onto a common taxonomy, the study decomposes the divergence into contributions of measurement, scope, and weight. The results reveal that measurement accounts for the majority of the divergence, followed by scope and weight. The analysis also identifies a rater effect where the overall view of a firm influences the measurement of specific categories. The findings emphasize the importance of understanding the data generation process underlying ESG ratings.
Article
Business, Finance
Andrew C. Baker, David F. Larcker, Charles C. Y. Wang
Summary: This paper discusses the biases of staggered difference-in-differences regression estimators and introduces three alternative estimators for addressing the biases. The application of these alternative estimators shows significant differences in causal estimates or inferences compared to prior research papers.
JOURNAL OF FINANCIAL ECONOMICS
(2022)
Article
Economics
Sergio Correia, Stephan Luck, Emil Verner
Summary: The study shows that during the 1918 Flu Pandemic, fast and stringent non-pharmaceutical interventions (NPIs) can significantly reduce mortality rates without further depressing economic activities. The short-term economic disruptions caused by the pandemic were similar across cities with strict and lenient NPIs.
JOURNAL OF ECONOMIC HISTORY
(2022)
Article
Economics
Muhammad Usman, Daniel Balsalobre-Lorente
Summary: This study examines the influence of industrialization, total reserves, financial development, renewable energy, and natural resources on the ecological footprint in newly industrialized countries. The findings suggest that industrialization, total reserves, and financial development significantly drive environmental pollution, while the abundance of natural resources and renewable energy mitigates it. The study also identifies causal relationships between these factors and the ecological footprint.
Article
Business, Finance
Muhammad Saeed Meo, Mohd Zaini Abd Karim
Summary: This study examines the relationship between green finance and carbon dioxide emissions. The findings indicate a negative impact of green finance on CO2 emissions, but this relationship varies across different quantiles.
BORSA ISTANBUL REVIEW
(2022)
Article
Economics
John P. A. Ioannidis, Sally Cripps, Martin A. Tanner
Summary: Epidemic forecasting has had a poor track record, especially highlighted by the failures during the COVID-19 pandemic. However, some of these problems can be addressed through careful modeling, consideration of multiple factors, and continuous evaluation of models based on their performance. Additionally, when major decisions are made based on forecasts, a holistic approach is needed to assess risks and harms.
INTERNATIONAL JOURNAL OF FORECASTING
(2022)
Article
Economics
Wei Zhang, Xuemeng Liu, Die Wang, Jianping Zhou
Summary: This paper discusses the effect and mechanisms of digital economy on carbon emission performance. It finds that digital economy improves carbon emission performance and proposes specific recommendations.
Article
Economics
Jun Zhao, Qingzhe Jiang, Xiucheng Dong, Kangyin Dong, Hongdian Jiang
Summary: This study investigates the impact of industrial structure adjustment on carbon emissions in China and explores the mediating role of energy efficiency in this relationship. The findings suggest that industrial structure upgrading can reduce CO2 emissions, while industrial structure optimization may increase carbon emissions.
Article
Economics
Don Husereau, Michael Drummond, Federico Augustovski, Esther De Bekker-Grob, Andrew H. Briggs, Chris Carswell, Lisa Caulley, Nathorn Chaiyakunapruk, Dan Greenberg, Elizabeth Loder, Josephine Mauskopf, C. Daniel Mullins, Stavros Petrou, Raoh-Fang Pwu, Sophie Staniszewska
Summary: The CHEERS 2022 statement replaces the previous reporting guidance and provides recommendations for accurate reporting and interpretation of health economic evaluations. It addresses different types of evaluations, new methods and developments, and includes stakeholder involvement. It is important for researchers, peer reviewers, editors, analysts, and health technology assessment bodies seeking guidance on reporting.
Article
Economics
Suling Feng, Rong Zhang, Guoxiang Li
Summary: This paper analyzes the impact of digital finance on green technology innovation using panel data from listed companies and cities in China. The results show that digital finance significantly promotes green technology innovation, especially for small-scale enterprises. Digital financial development can better promote green technology innovation in regions with higher pollutant emission intensity and stronger local government governance capacity. Manufacturing and nonstate economic development also contribute to the effectiveness of digital finance in promoting green technology innovation.
STRUCTURAL CHANGE AND ECONOMIC DYNAMICS
(2022)
Article
Ecology
Guangyou Zhou, Jieyu Zhu, Sumei Luo
Summary: This paper investigates the impact of fintech and green finance on green growth from the perspective of fintech development. It constructs a comprehensive index to evaluate the green growth of regional economy and tests the impact and mechanism of fintech innovation and green finance on green growth using China's provincial panel data. The results show that fintech and green finance significantly promote green economic growth, with regional heterogeneity. Further research reveals that fintech innovation mainly promotes green economic growth through green credit and green investment.
ECOLOGICAL ECONOMICS
(2022)
Article
Business, Finance
En-Ze Wang, Chien-Chiang Lee
Summary: Using a finite mixture model to estimate the production function, this research examines the interrelationships among environmental regulation, clean energy consumption, and economic growth. The findings show that environmental regulation enhances the positive impact of clean energy consumption on economic growth, while ignoring measurement error and misspecifying the production function can bias estimation results. Moreover, traditional frameworks may underestimate the significance of clean energy consumption's impact on economic growth compared to accounting for heterogeneity and using clean energy production data.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2022)
Article
Economics
Cristina Bicchieri, Eugen Dimant
Summary: This article discusses important considerations in designing norm-nudges and presents a general model of social behavior based on social expectations and conditional preferences. The results of several experiments show that norm-nudging can backfire and provides ways to avoid negative outcomes.
Article
Business
Maksim Belitski, Christina Guenther, Alexander S. Kritikos, Roy Thurik
Summary: Responding to COVID-19 involves supporting small business jobs, creating productive entrepreneurship, and examining the role of financial mechanisms. The pandemic brings both challenges and opportunities for small businesses, highlighting the need for research on digitalization and financial support policies during crises.
SMALL BUSINESS ECONOMICS
(2022)
Article
Economics
Ludovica Principato, Luca Secondi, Clara Cicatiello, Giovanni Mattia
Summary: More than half of the food wasted in Europe comes from household food waste, mainly due to incorrect food management habits and behavior. This study found that during the Covid-19 lockdown, consumers wasted less food compared to before, especially among young consumers and those who practiced good food management habits. The logistical difficulties of grocery shopping during the lockdown also led to more careful household food consumption.
SOCIO-ECONOMIC PLANNING SCIENCES
(2022)
Article
Economics
Whelsy Boungou, Alhonita Yatie
Summary: Using stock returns data from 94 countries globally between 22 January and 24 March 2022, this study finds a negative relationship between the Ukraine-Russia war and world stock market returns, providing the first empirical evidence for this.
Article
Economics
Siyu Ren, Yu Hao, Haitao Wu
Summary: The study finds that green investment has a negative impact on local environmental pollution, but has no effect on green investment in neighboring areas; green investment can reduce environmental pollution by improving energy conservation and emission reduction efficiency, expanding technological innovation capabilities, and upgrading industrial structure; the regression results of the dynamic threshold model indicate that the impact of green investment on reducing environmental pollution is dependent on institutional quality.
ENVIRONMENTAL & RESOURCE ECONOMICS
(2022)
Article
Economics
Huwei Wen, Chien-Chiang Lee, Fengxiu Zhou
Summary: This study examines the relationship between fiscal policy uncertainty and corporate innovation investment in Chinese A-share listed companies in the new energy industry from 2007 to 2019. The findings suggest that fiscal policy uncertainty significantly reduces innovation investment, largely due to the decline in government support incentives. Product market competition, however, mitigates the adverse effects of fiscal policy uncertainty on innovation investment. Bank credit constraint serves as the mechanism through which fiscal policy uncertainty restrains innovation investment.
