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The parental role in intergenerational educational persistence: an empirical investigation with cross-country panel data Journal of Economic Studies Pub Date : 2024-03-15 Francesco Salomone Marino, Maria Berrittella
Purpose The main aim of this study is to investigate the role of fathers and mothers in the intergenerational educational persistence for sons and daughters under two dimensions that characterize the clusters of countries: redistributive policy and governance. Design/methodology/approach Data from the Global Database of Intergenerational Mobility (GDIM), hierarchical cluster analysis on principal components
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Networks, ownership and productivity does firm age play a moderating role? Journal of Economic Studies Pub Date : 2024-03-04 Francesco Aiello, Paola Cardamone, Lidia Mannarino, Valeria Pupo
Purpose The purpose of this study is to investigate whether and how inter-firm cooperation and firm age moderate the relationship between family ownership and productivity. Design/methodology/approach We first estimate the total factor productivity (TFP) of a large sample of Italian firms observed over the period 2010–2018 and then apply a Poisson random effects model. Findings TFP is, on average,
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Does the inflow of remittances diminish unemployment? The role of political stability in MENA countries Journal of Economic Studies Pub Date : 2024-02-27 Khaled Elorabi, Suryati Ishak, Mohamed Maher
Purpose Previous literature has investigated the connection amongst remittances, political stability and unemployment in remittance-receiving economies separately. Besides, they did not cover the Middle East and North African (MENA) region. Design/methodology/approach To this end, this research uses the pooled mean group (PMG) method. Findings The findings suggest that the influence of remittances
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A three-period extension of the CAPM Journal of Economic Studies Pub Date : 2024-02-27 Helga Habis
Purpose Our result of this paper aims to indicate that the beta pricing formula could be applied in a long-term model setting as well. Design/methodology/approach In this paper, we show that the capital asset pricing model can be derived from a three-period general equilibrium model. Findings We show that our extended model yields a Pareto efficient outcome. Practical implications The capital asset
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Tourist perceptions of health-safety risks in a time of pandemic Journal of Economic Studies Pub Date : 2024-02-23 Chiara Dalle Nogare, Raffaele Scuderi
Purpose The COVID-19 pandemic has induced tourism destinations to reconsider organisational aspects related to health safety measures, as perceptions of health safety may have become particularly important for tourists. Using data from summer 2020, the period immediately after the outbreak of the pandemic, we investigate the factors that affected tourist perceptions of health safety. Design/methodology/approach
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Strategic flexibility in healthcare: an exploration of real options Journal of Economic Studies Pub Date : 2024-02-13 Felipa de Mello-Sampayo
Purpose This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways. Design/methodology/approach This research employs the real options theory, a financial concept, to delve into health
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Beyond numbers: rethinking host professionalism on Airbnb Journal of Economic Studies Pub Date : 2024-02-08 Veronica Leoni, Pierpaolo Pattitoni, Laura Vici
Purpose We challenge the conventional approach to distinguish between professional and non-professional Airbnb hosts by solely using the number of managed listings. Design/methodology/approach We leverage the recently released platform policy that categorizes hosts' professionalism by their self-declared status. Our multinomial modeling approach predicts true host status, factoring in the number of
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From parameters to policies: sensitivity analysis and fiscal and monetary reactions Journal of Economic Studies Pub Date : 2024-02-05 Karlo Marques Junior
Purpose This paper seeks to explore the sensitivity of these parameters and their impact on fiscal policy outcomes. We use the existing literature to establish possible ranges for each parameter, and we examine how changes within these ranges can alter the outcomes of fiscal policy. In this way, we aim to highlight the importance of these parameters in the formulation and evaluation of fiscal policy
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Labour market insecurity and volunteering in the European Union: policy suggestions for job security Journal of Economic Studies Pub Date : 2024-02-02 Nunzia Nappo, Damiano Fiorillo, Giuseppe Lubrano Lavadera
Purpose There is extensive literature on the determinants of job tenure insecurity. However, very little is known about the individual drivers of labour market insecurity. Additionally, while a piece of literature shows that volunteering improves workers' income, no study considers volunteering as an activity which could help workers to feel more confident about their perception of labour market insecurity
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Time-varying parameters in monetary policy rules: a GMM approach Journal of Economic Studies Pub Date : 2024-01-30 Christina Anderl, Guglielmo Maria Caporale
Purpose The article aims to establish whether the degree of aversion to inflation and the responsiveness to deviations from potential output have changed over time. Design/methodology/approach This paper assesses time variation in monetary policy rules by applying a time-varying parameter generalised methods of moments (TVP-GMM) framework. Findings Using monthly data until December 2022 for five inflation
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Unraveling the impact of COVID-19 pandemic on foreign direct investment and its determinants: empirical insights from SAARC countries Journal of Economic Studies Pub Date : 2024-01-24 Rizwan Firdos, Mohammad Subhan, Babu Bakhsh Mansuri, Majed Alharthi
Purpose This paper aims to unravel the impact of post-pandemic COVID-19 on foreign direct investment (FDI) and its determinants in the South Asian Association for Regional Cooperation (SAARC) Countries. Design/methodology/approach The study utilized four macroeconomic variables includes growth domestic product growth rate (GDPG), inflation rate (IR), exchange rate (ER), and unemployment rate (UR) to
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Inflation–inequality puzzle: is it still apparent? Journal of Economic Studies Pub Date : 2024-01-15 Edmond Berisha, Rangan Gupta, Orkideh Gharehgozli
Purpose The primary focus of this study is to examine the distributional consequences of the widespread increase in prices. The fundamental question the study aims to address is whether the dynamics of income distribution due to higher inflation differ in the short term compared to the long run. Design/methodology/approach The authors estimated a panel-data model (fixed effects) using inequality and
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US efficient factors in a Bayesian model scan framework Journal of Economic Studies Pub Date : 2024-01-15 Michael O'Connell
Purpose The author examines the impact these efficient factors have on factor model comparison tests in US returns using the Bayesian model scan approach of Chib et al. (2020), and Chib et al.(2022). Design/methodology/approach Ehsani and Linnainmaa (2022) show that time-series efficient investment factors in US stock returns span and earn 40% higher Sharpe ratios than the original factors. Findings
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Equity issuance, share buy-back and growth in a Kaldor-Kalecki model Journal of Economic Studies Pub Date : 2024-01-09 Sébastien Charles
Purpose The aim of this article is to assess the macroeconomic consequences of some specific aspects of financialization (i.e. share buy-back) using a hybrid post-Keynesian model of growth and distribution based on Kaldorian and Kaleckian characteristics. Design/methodology/approach The study follows a post-Keynesian approach and deals with financialization issues by implementing several numerical
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The interplay between economic policy uncertainty and corporate bond yield in emerging Asian markets Journal of Economic Studies Pub Date : 2024-01-04 Mohit Kumar, P. Krishna Prasanna
Purpose To investigate the role of domestic and foreign economic policy uncertainty (EPU) in driving the corporate bond yields in emerging markets. Design/methodology/approach The study utilizes monthly data from January 2008 to June 2023 from the selected emerging economies. The data analysis is conducted using univariate, bivariate and multivariate statistical techniques. The study includes bond
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The impact of recapitalisations and bank competition on Greek bank net interest margins Journal of Economic Studies Pub Date : 2024-01-04 Emmanuel Mamatzakis
Purpose This study investigates the reasons behind the very high net interest margins in the Greek banking industry compared to the euro-area, focussing on the association between bank competition and recapitalisations. Design/methodology/approach The author conducts a dynamic panel analysis covering the period from the early 2000s to 2021, that controls for possible endogeneity and treats for heterogeneity
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Environmental awareness and firm creation Journal of Economic Studies Pub Date : 2024-01-03 K. Peren Arin, Alessandro De Iudicibus, Nagham Sayour, Nicola Spagnolo
Purpose This study tests whether environmental awareness affects firm creation by using Google Trends data and a novel region-level data set from Italy. Design/methodology/approach Forward-looking entrepreneurs drive firm creation. The authors hypothesize that more environmentally conscious entrepreneurs will emerge as environmental awareness rises, increasing the number of green and energy firms.
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Disinflation costs and macroprudential policies: real and welfare effects Journal of Economic Studies Pub Date : 2023-12-28 Francesco Busato, Maria Ferrara, Monica Varlese
Purpose This paper analyzes real and welfare effects of a permanent change in inflation rate, focusing on macroprudential policy’ role and its interaction with monetary policy. Design/methodology/approach While investigating disinflation costs, the authors simulate a medium-scale dynamic general equilibrium model with borrowing constraints, credit frictions and macroprudential authority. Findings Providing
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Monetary policy in practice: do central banks respond to movements in exchange rate and credit growth? Journal of Economic Studies Pub Date : 2023-12-26 Hai Le, Phuong Nguyen
Purpose This study examines the importance of exchange rate and credit growth fluctuations when designing monetary policy in Thailand. To this end, the authors construct a small open economy New Keynesian dynamic stochastic general equilibrium (DSGE) model. The model encompasses several essential characteristics, including incomplete financial markets, incomplete exchange rate pass-through, deviations
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A novel market sentiment measure: assessing the link between VIX and the Global Consciousness Projects data Journal of Economic Studies Pub Date : 2023-12-26 Ulf Holmberg
Purpose The primary objective of this research is to explore the potential of utilizing Global Consciousness Project (GCP) data as a tool for understanding and predicting market sentiment. Specifically, the study aims to assess whether incorporating GCP data into econometric models can enhance the comprehension of daily market movements, providing valuable insights for traders. Design/methodology/approach
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An empiric on geopolitical risk and the tourism–economic growth nexus Journal of Economic Studies Pub Date : 2023-12-26 K. Sandar Kyaw, Yun Luo, Glauco De Vita
Purpose This study empirically examines the moderating role of geopolitical risk on the tourism–economic growth nexus by applying a recent geopolitical risk indicator developed by Caldara and Iacoviello (2022) in a cross-country panel data growth model context for a sample of 24 countries. Design/methodology/approach A Dummy Variable Least Squares panel data model, nonparametric covariance matrix estimator
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Public debt forecasts and machine learning: the Italian case Journal of Economic Studies Pub Date : 2023-12-21 Edgardo Sica, Hazar Altınbaş, Gaetano Gabriele Marini
Purpose Public debt forecasts represent a key policy issue. Many methodologies have been employed to predict debt sustainability, including dynamic stochastic general equilibrium models, the stock flow consistent method, the structural vector autoregressive model and, more recently, the neuro-fuzzy method. Despite their widespread application in the empirical literature, all of these approaches exhibit
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Home, unsweet home – effect of homeownership on financial investments of Indian households Journal of Economic Studies Pub Date : 2023-12-08 Shreya Lahiri, Shreya Biswas
Purpose The study analyzes the relationship between homeownership and financial investment of households in the context of emerging markets like India. It also examines how homeownership affects the portfolio decisions of Indian households. Design/methodology/approach Using the nationally representative All-India Debt and Investment Survey of 2019 and employing an instrumental variable approach, the
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The determinants of credit restrictions and their impact on micro firms: the case of Colombia Journal of Economic Studies Pub Date : 2023-12-04 Jhon James Mora, Andres David Espada Castro
Purpose This article analyzes the determinants of credit constraints and their effects on the productivity of micro-firms in Colombia. Design/methodology/approach An Endogenous Switching Regression Model (ESRM) is estimated to analyze credit constraint impact on economic performance. Findings The results show that owner characteristics such as age and gender decrease the likelihood of being constrained
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Fiscal adjustments and TFP dynamics: addressing reverse causality within a heterogeneous panel framework with global shocks Journal of Economic Studies Pub Date : 2023-12-01 Gianni Carvelli
Purpose The purpose of this study is to provide new insights into the relationship between fiscal policy and total factor productivity (TFP) while accounting for several economic and econometric issues of the phenomenon like non-stationarity, fiscal feedback effects, persistence in productivity, country heterogeneity and unobserved global shocks and local spillovers affecting heterogeneously the countries
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The nonlinear relationship between financial constraints and R&D investment: the mediating role of executive stock options Journal of Economic Studies Pub Date : 2023-11-29 Sedki Zaiane, Halim Dabbou
Purpose The current study aims to investigate the mediating role of executive stock options in the nonlinear relationship between financial constraints and research and development (R&D) investment through two measures of financial constraints. Design/methodology/approach This study is based on a sample of 90 French firms for the period extending from 2008 to 2020. The authors employ a panel threshold
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Economic policy uncertainty and the Greek economic crisis Journal of Economic Studies Pub Date : 2023-11-27 Gikas Hardouvelis, Georgios Karalas, Dimitrios Karanastasis, Panagiotis Samartzis
Purpose The authors construct an index of economic policy uncertainty (EPU) for Greece using textual analysis and analyze its role in the 10-year Greek economic crisis. Design/methodology/approach To identify the causal relationship between various measures of economic activity and EPU in Greece, the authors use a sophisticated “shock-based” structural vector autoregressive identification scheme. Additionally
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Investigating the financial efficiencies and productivities of the banking sector Journal of Economic Studies Pub Date : 2023-11-24 Fazıl Gökgöz, Engin Yalçın, Noor Ayoob Salahaldeen
Purpose The banking industry, which is one of the most significant industries when taking into account both deposit sizes and employment statistics in Turkey, is one of the country's primary economic drivers. In this regard, it is highly important to evaluate banks as it is necessary to present to what extent they use their resources efficiently. The main purpose of the study is to analyze the efficiencies
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US unemployment rate: Federal Reserve versus private information Journal of Economic Studies Pub Date : 2023-11-22 Hamid Baghestani, Bassam M. AbuAl-Foul
Purpose This study evaluates the Federal Reserve (Fed) initial and final forecasts of the unemployment rate for 1983Q1-2018Q4. The Fed initial forecasts in a typical quarter are made in the first month (or immediately after), and the final forecasts are made in the third month of the quarter. The analysis also includes the private forecasts, which are made close to the end of the second month of the
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Trade potential in European Union manufacturing Journal of Economic Studies Pub Date : 2023-11-21 Lazaros Antonios Chatzilazarou, Dimitrios Dadakas
Purpose This study deals with changes in European Union's (EU's) trade potential in Machinery (HS 84–85) and Transportation (HS86-89) products. Design/methodology/approach The study uses a Structural Gravity model, Poisson Pseudo Maximum Likelihood (PPML) estimation together with panel data for the years 2002–2018 and a two-step procedure that employs predicted values of bilateral trade to compare
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Mayday! Mayday! The airlines stock returns are failing. Analysis of the impact of Russia–Ukraine war Journal of Economic Studies Pub Date : 2023-11-21 António Miguel Martins, Susana Cró
Purpose This paper investigates the short-term market impact of the beginning of the military conflict between Russia and Ukraine (February 24, 2022) on a set of airline stocks listed. Design/methodology/approach This study uses an event study methodology, cross-section analyses and interaction effects to study the effect of the war on airline stock prices and firm-specific characteristics that explain
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Fast-food consumption and individual time preferences in Russia: evidence for the social policy Journal of Economic Studies Pub Date : 2023-11-15 Tatiana Kossova, Maria Sheluntcova
Purpose This article aims to investigate the role of socioeconomic factors and individual time preferences in the demand for fast-food in Russia. An individual discount rate shows the ability of a person to postpone utility from consumption to future periods. Design/methodology/approach An individual discount rate is measured through a hypothetical money experiment. The database is the special survey
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Assessing the resilience of the US banking sector under a macroeconomic stress testing Journal of Economic Studies Pub Date : 2023-11-14 Mohamed Lachaab
Purpose The increased capital requirements and the implementation of new liquidity standards under Basel III sparked various concerns among researchers, academics and other stakeholders. The question is whether Basel III regulation is ideal, that is, adequate to deal with a crisis, such as the 2007–2009 global financial crisis? The purpose of this paper is threefold: First, perform a stress testing
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Abortion stigma, government regulation and religiosity: findings from the case of Iran Journal of Economic Studies Pub Date : 2023-11-10 Farzin Rasoulyan, Seyed Reza Mirnezami, Arash Khalili Nasr, Bahar Morshed-Behbahani
Purpose Experiencing stigma after abortion may decelerate the accumulation of human capital. Despite the importance of studying the relationship between religiosity and abortion stigma, the topic is understudied, especially in Islamic contexts. Abortion was legalized in Iran in 2005. Under the new law, far more cases are allowed for abortion. This change provided an opportunity to explore the interplay
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The human consequences of economic sanctions Journal of Economic Studies Pub Date : 2023-11-07 Francisco Rodríguez
Purpose The use of economic sanctions has grown dramatically in recent decades. Nevertheless, many arguments are presented in the public policy space regarding their effects on target populations. The author presents the first systematic analysis of the effects of sanctions on living conditions in target countries. Design/methodology/approach This paper provides a comprehensive survey and assessment
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Cross country comparisons of environmental efficiency under institutional quality. Evidence from European economies Journal of Economic Studies Pub Date : 2023-11-07 Cristian Barra, Pasquale Marcello Falcone
Purpose The paper aims at addressing the following research questions: does institutional quality improve countries' environmental efficiency? And which pillars of institutional quality improve countries' environmental efficiency? Design/methodology/approach By specifying a directional distance function in the context of stochastic frontier method where GHG emissions are considered as the bad output
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Does monetary policy impact income inequality? Journal of Economic Studies Pub Date : 2023-11-06 Luccas Assis Attílio
Purpose This article analyzes the impact of monetary policy on income inequality across 16 advanced economies. The author investigates three key points: (1) the relationship between domestic monetary policy and domestic income inequality, (2) the spillover effect of USA monetary policy (including quantitative easing) on international inequality and (3) the quantitative influence of the monetary policies
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Banking sector's reaction during the Russian invasion of Ukraine: who reacted the most? Journal of Economic Studies Pub Date : 2023-11-06 Rizky Yudaruddin, Dadang Lesmana
Purpose This study aims to investigate the market reaction to the Russian invasion of Ukraine, specifically in the banking sector. Design/methodology/approach The research uses an event study and cross-sectional analysis, with market reaction measured by cumulative abnormal return (CAR). The sample comprised 1,126 banks. Findings The results show that the market reacted negatively to the invasion both
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A probit-based analysis of the deep stock market drawdowns Journal of Economic Studies Pub Date : 2023-11-01 Damir Tokic, Dave Jackson
Purpose This study is motivated in part by the fact that the unfolding 2022 bear market, which has reached the −25% drawdown, has not been preceded by the inverted 10Y-3 m spread or an inverted near-term forward spread. Design/methodology/approach The authors develop a three-factor probit model to predict/explain the deep stock market drawdowns, which the authors define as the drawdowns in excess of
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Factors determining migration intentions in Bangladesh: from land to factory Journal of Economic Studies Pub Date : 2023-10-30 Muhammad Kazim Nur Sohad, Giuseppe Celi, Edgardo Sica
Purpose This article explores the migration intentions (MIs) embedded in population movements from rural to urban areas in Bangladesh. In this country, urban-centric development policies have made cities epicentres of commerce and industrialisation, offering significant employment and livelihood opportunities. This rapid transformation has generated several socio-psychological factors that are influencing
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Mortgage market, wages and homeownership Journal of Economic Studies Pub Date : 2023-10-20 Gaetano Lisi
Purpose This study deals with the main issues concerning the interplay between homeownership and labour market outcomes, namely (1) the relation between homeownership and labour market outcomes, at both the individual level and the aggregate level, and (2) the relation between homeownership and human capital. Design/methodology/approach This paper is both theoretical and empirical. A search and matching
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Monetary policy in a small open economy with non-separable government spending Journal of Economic Studies Pub Date : 2023-10-19 Haytem Troug, Ernil Sabaj
Purpose Despite being a flexible tool that can address several macroeconomic issues, Dynamic Stochastic General Equilibrium (DSGE) models have been rarely used to analyse the interaction between monetary and fiscal policy until the post-financial crisis, leaving a gap in the analysis of how government consumption affects the transmission mechanism of monetary policy. This motivates this paper to analyse
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Does corruption grease or sand the wheels of firm productivity? Evidence of a non-linear relationship from a firm-level analysis in Vietnam Journal of Economic Studies Pub Date : 2023-10-17 Van Thi Cam Ha, Trinh Nguyen Chau, Tra Thi Thu Pham, Duy Nguyen
Purpose This analysis examines the relationship between corruption and firm productivity in Vietnam. Design/methodology/approach The authors apply the system generalized method of moments estimation approach on a panel dataset constructed from comprehensive enterprise surveys covering all the sectors over the 2011–2020 period. Findings The results confirm a non-linear relationship between corruption
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Does central bank credibility from professional forecasters and consumers affect the interest rate and its expectations? Journal of Economic Studies Pub Date : 2023-10-16 Helder Ferreira de Mendonça, Cristiane Nascimento de Lima
Purpose This paper aims to contribute to the analysis concerning how inflation forecasts from different economic agents (professional forecasters and consumers) lead to varying levels of central bank credibility and how it affects the monetary policy interest rate and its expectations. Design/methodology/approach Based on the Brazilian economy data from June 2007 to May 2022, the authors provide evidence
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Performance evaluation of commercial bank branches in dynamic competitive conditions: a network DEA model with serial and cross-shared resources Journal of Economic Studies Pub Date : 2023-10-10 Pejman Shabani, Mohsen Akbarpour Shirazi
Purpose This paper aims to evaluate commercial bank branches' performance in dynamic and competitive conditions where decision-making units (DMUs) seek a greater proportion of shared resources as it happens in the real world. By introducing the concepts of cross-shared and serial-shared resources, the authors have emphasized the role of evaluation results of past periods on branches' total efficiency
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The impact of Credit Suisse takeover on Indian banking and financial services sector stocks: an event study analysis Journal of Economic Studies Pub Date : 2023-09-26 Priyanka Goyal, Pooja Soni
Purpose The present study aims to comprehensively examine the impact of the Union Bank of Switzerland (UBS) takeover of Credit Suisse on the banking and financial services sector in the Indian stock market. To fully comprehend the impact of the event, the study separately investigates the response of private sector banks, public sector banks, overall banking companies and financial services companies
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Russia–Ukraine war and the impact on Indian economy Journal of Economic Studies Pub Date : 2023-09-18 Anindita Bhattacharjee, Dolly Gaur, Kanishka Gupta
Purpose India is not geographically close to either Russia or Ukraine. However, India's trade relations with them make it vulnerable to the consequences of the war between these countries. Thus, the present study aims to examine the impact of the Russia–Ukraine war on various sectoral indices of the Indian economy. Design/methodology/approach Event study methodology has been used in this study for
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Asymmetry in the prices of crude oil and diesel and gasoline prices in Brazil Journal of Economic Studies Pub Date : 2023-09-15 Gerrio Barbosa, Daniel Sousa, Cássio da Nóbrega Besarria, Robson Lima, Diego Pitta de Jesus
Purpose The aim of this study was to determine if there are asymmetries in the pass-through of West Texas Intermediate (WTI) crude oil prices to its derivatives (diesel and gasoline) in the Brazilian market. Design/methodology/approach Initially, the future WTI oil price series was analyzed using the self-exciting threshold autoregressive (SETAR) and logistic smooth transition autoregressive (LSTAR)
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The gender pay gap in the Visegrad Groups Journal of Economic Studies Pub Date : 2023-09-13 Jakub Harman, Lucia Bartůsková
Purpose The gender pay gap is a well-documented phenomenon in labor economics. Based on the 2018 Structure of Earnings Survey (SES), the authors estimate the impact of observable characteristics on the gender pay gap in Visegrad Group countries and provide policy recommendations on reducing the gender pay gap. Design/methodology/approach The Oaxaca-Blinder decomposition is applied to estimate the values
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Shirking and capital accumulation under oligopolistic competition Journal of Economic Studies Pub Date : 2023-09-12 Haiwen Zhou, Ruhai Zhou
Purpose The purpose of the paper is to study how technology choice is affected by capital accumulation when there is unemployment and firms engage in oligopolistic competition. Design/methodology/approach In this infinite horizon model, unemployment results from the existence of efficiency wages. Consumers choose saving optimally, and there is capital accumulation. Firms producing intermediate goods
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Property tax incentives to divorce strategically Journal of Economic Studies Pub Date : 2023-09-11 Raffaella Santolini
Purpose The paper aims to examine the role played by property tax in influencing strategic decisions regarding marital separation and divorce in Italian municipalities. Design/methodology/approach The empirical analysis is conducted on a sample of 6,458 Italian municipalities by applying the ordinary least squares (OLS) and instrumental variables (IVs) approaches. Findings The estimation results show
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Forecasting expenditure components in Nigeria Journal of Economic Studies Pub Date : 2023-09-06 Afees Salisu, Douglason Godwin Omotor
Purpose This study forecasts the government expenditure components in Nigeria, including recurrent and capital expenditures for 2021 and 2022, based on data from 1981 to 2020. Design/methodology/approach The study employs statistical/econometric problems using the Feasible Quasi Generalized Least Squares approach. Expenditure forecasts involve three simulation scenarios: (1) do nothing where the economy
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Factors determining default in P2P lending Journal of Economic Studies Pub Date : 2023-09-05 Evangelia Avgeri, Maria Psillaki
Purpose The research documented in this paper aims to examine multiple factors related to borrowers' default in peer-to-peer (P2P) lending in the USA. This study is motivated by the hypothesis that both P2P loan characteristics and macroeconomic variables have influence on loan performance. The authors define a set of loan characteristics, borrower characteristics and macroeconomic variables that are
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The nexus between arms imports, military expenditures and economic growth of the top arms importers in the world: a pooled mean group approach Journal of Economic Studies Pub Date : 2023-08-31 Shreesh Chary
Purpose This paper explores whether data back the claim that imports of armaments are inherently bad for economic growth. Regardless of one's point of view, the production and trade of weaponry is a significant industry with serious economic implications that warrant investigation. The financial repercussions of military spending have been extensively studied, but the economic effects of arms importation
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The role of relatedness in firm interrelationships Journal of Economic Studies Pub Date : 2023-08-28 Daragh O'Leary, Justin Doran, Bernadette Power
Purpose This paper analyses how firm births and deaths are influenced by previous firm births and deaths in related and unrelated sectors. Competition and multiplier effects are used as the theoretical lens for this analysis. Design/methodology/approach This paper uses 2008–2016 Irish business demography data pertaining to 568 NACE 4-digit sectors within 20 NACE 1-digit industries across 34 Irish county
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Climate change and agricultural productivity in Asian and Pacific countries: how does research and development matter? Journal of Economic Studies Pub Date : 2023-08-14 Cong Minh Huynh
Purpose This study empirically examines the impact of climate change and agricultural research and development (R&D) as well as their interaction on agricultural productivity in 12 selected Asian and Pacific countries over the period of 1990–2018. Design/methodology/approach Various estimation methods for panel data, including Fixed Effects (FE), the Feasible Generalized Least Squares (FGLS) and two-step
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The effect of NPLs management in the PIIGS banking efficiency: an approach using non-parametric partial order-m frontiers Journal of Economic Studies Pub Date : 2023-08-11 Emmanouil G. Chalampalakis, Ioannis Dokas, Eleftherios Spyromitros
Purpose This study focuses on the banking systems evaluation in Portugal, Italy, Ireland, Greece and Spain (known as the PIIGS) during the financial and post-financial crisis period from 2009 to 2018. Design/methodology/approach A conditional robust nonparametric frontier analysis (order-m estimators) is used to measure banking efficiency combined with variables highlighting the effects of Non-Performing
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Asymmetric effects of monetary policy on non-bank financial intermediation (NBFI) assets: a panel quantile regression approach Journal of Economic Studies Pub Date : 2023-08-09 Mugabil Isayev, Farid Irani, Amirreza Attarzadeh
Purpose The purpose of this paper is to fill the momentous gap by explicitly investigating the asymmetric effects of monetary policy (MP) on non-bank financial intermediation (NBFI) assets. Design/methodology/approach The authors utilized panel data from 29 countries for the period of 2012–2020 and used the quantile regression estimation. In addition to simultaneous quantile regression (SQR), the authors
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Has the heterogeneity of culture, investor sentiment and uncertainty altered bank stock returns in the MENA region? Journal of Economic Studies Pub Date : 2023-08-08 Syed Faisal Shah
Purpose This paper has analysed the impact of cultural dimensions, investor sentiment and uncertainty on bank stock returns. Also, the study examined the influences of the interaction between cultural dimensions and individual (private) sentiment (investor sentiment). Design/methodology/approach To meet the study's objectives, a two-step generalised method of moments estimator was applied to the study
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Asymmetric causality between Bitcoin and tech stocks in the US market using mixed frequency data Journal of Economic Studies Pub Date : 2023-08-03 Abbas Valadkhani
Purpose This study is the first to investigate the causal relationship between Bitcoin and equity price returns by sectors. Previous studies have focused on aggregated indices such as S&P500, Nasdaq and Dow Jones, but this study uses mixed frequency and disaggregated data at the sectoral level. This allows the authors to examine the nature, direction and strength of causality between Bitcoin and equity