-
The nexus of ESG requirements and industry concentration Bulletin of Economic Research (IF 0.888) Pub Date : 2024-02-16 Yenpo Tai, Mei-Yu Lee, Chu-Ping Lo, Su-Ying Hsu
This paper examines the environmental, social, and governance (ESG) requirements for an industry in an n-oligopolistic model and investigates the relationship between the degree of industry concentration and the degree of ESG requirements. It is shown that the factors influencing the degree of ESG requirements include the number of firms, the elasticity of market demand, and the market concentration
-
The relationship between the Big Five personality traits and earnings: Evidence from a meta-analysis Bulletin of Economic Research (IF 0.888) Pub Date : 2024-02-07 Melchior Vella
This meta-analysis examines the relationship between the Big Five personality traits and earnings. The results reveal that openness to experience, conscientiousness, and extraversion exhibit positive correlations with earnings, whereas agreeableness and neuroticism are inversely correlated with earnings. Overall, personality has a modest-to-small effect on earnings, with variations in results depending
-
A theory of entry dissuasion Bulletin of Economic Research (IF 0.888) Pub Date : 2024-02-05 Domenico Buccella, Luciano Fanti
In an industry with homogeneous goods, this note compares the standard incumbent's strategic capacity choice versus the incumbent's pre-emptive payment (profit) transfer (PPT) strategy (i.e., pre-entry acquisition). It is shown that via the transfer option, the incumbent holds its monopoly position “dissuading” the potential competitor entry for a range of fixed costs larger than under strategic capacity
-
Multiple regimes in the preferences for redistribution Bulletin of Economic Research (IF 0.888) Pub Date : 2024-02-02 Andros Kourtellos, Kyriakos Petrou
This paper provides novel evidence of nonlinearities in the formation of preferences for redistribution by uncovering evidence of multiple regimes consistent with the presence of multiple equilibria and multiple steady states. Using threshold regressions that account for the endogeneity of the threshold variable, countries are classified into three groups that share common characteristics. Finally
-
Endogenous timing of R&D decisions with spillovers: Output versus research subsidies Bulletin of Economic Research (IF 0.888) Pub Date : 2024-01-29 Jiaqi Chen, Doori Kim, Sang-Ho Lee
This study considers an endogenous timing game of R&D decisions with research spillovers and compares the effects of output and research subsidies. We show that the simultaneous-move (sequential-move) game is an equilibrium if the spillover rate is low (high) under an output subsidy while this equilibrium is socially beneficial if the spillover rate is high or low enough. Under a research subsidy,
-
ECB monetary policy communication events: Do they move euro area yields? Bulletin of Economic Research (IF 0.888) Pub Date : 2024-01-29 Linas Jurkšas, Rokas Kaminskas, Deimantė Vasiliauskaitė
This study aims to determine and compare the impact of four different types of European Central Bank (ECB) monetary policy communication events on euro area sovereign yields on an intraday basis since 2014. Our paper distinguishes it from similar studies in that we analyze a broad range of ECB communication types. The results reveal that ECB decisions and press conferences have the most substantial
-
Class size reduction, bullying, and violent behavior: Evidence from West Bank schools Bulletin of Economic Research (IF 0.888) Pub Date : 2024-01-19 Sameh Hallaq
Class size is one of the predominant topics in educational policy debate, as its impact on academic performance has not always yielded consistent findings. Nevertheless, less emphasis was paid to noncognitive outcomes such as well-being and behavioral issues. This study employs rich administrative and survey data to investigate the effects of class size on students’ bullying and violent behavior as
-
Inflation response in a New Keynesian model with money illusion Bulletin of Economic Research (IF 0.888) Pub Date : 2024-01-11 Kenichi Tamegawa
This study investigates the role of money illusion (MI) in a dynamic stochastic general equilibrium model. We introduce MI such that households, in their intertemporal optimization, erroneously recognize nominal variables as real ones. We find that first, our model could exhibit money nonneutrality in the long run; second, the Taylor principle is a sufficient condition for determinacy but not a necessary
-
Passive cross-holdings, horizontal differentiation, and welfare Bulletin of Economic Research (IF 0.888) Pub Date : 2024-01-08 Jing Fang, Jingyi Huang, Chenhang Zeng
We study how passive cross-holdings affect product differentiation and welfare in a Cournot duopoly. We show that increasing unilateral ownership stimulates total investments, and therefore improves social welfare. Such cross-holdings should not be controlled in view of social welfare. However, we identify an inverted-U (a negative) relationship between consumer surplus and ownership when the demand
-
Firm information and risk: Evidence from the role of 10-K report readability Bulletin of Economic Research (IF 0.888) Pub Date : 2024-01-04 Sang Jun Cho, Changhwan Choi, Chune Young Chung
This study uses the Plain Writing Act of 2010 as an exogenous variation in the readability of 10-K reports to establish the impact of report improvements on firm risk. We find that better readability significantly decreases total and idiosyncratic risks for US firms experiencing shocks to their readability environment during 2001–2016. The impact is stronger among firms with poorer governance, less
-
Corporate social responsibility and tariff policy in a differentiated mixed duopoly Bulletin of Economic Research (IF 0.888) Pub Date : 2024-01-04 Xingtang Wang, Leonard F. S. Wang
In this paper, we assume that the domestic public firm competes in the market with a foreign private firm that cares about consumer surplus and the domestic government imposes tariffs on foreign firm. We aim to analyze the influence of the corporate social responsibility (CSR) level of foreign firm on privatization and tariff policy. It shows that if the government implements a privatization policy
-
Does geographic or market proximity matter? Evidence from institutional investor monitoring on earnings attributes in US cross-listed stocks Bulletin of Economic Research (IF 0.888) Pub Date : 2023-12-29 Sanggyu Kang, Chune Young Chung, Amirhossein Fard
This study investigates institutional distance as a factor of investors’ monitoring of corporate earnings attributes. We analyze the US cross-listing market to determine whether institutional monitoring depends on geographic or market proximity. We find that shareholdings of non-US institutions headquartered in the same country as the investee firm are significantly and positively related to earnings
-
Welfare analysis of bank mergers with financial instability Bulletin of Economic Research (IF 0.888) Pub Date : 2023-12-27 Akio Ino, Yusuke Matsuki
In this study, we analyze the effect of a merger between banks by extending a structural model of the banking industry with the possibility of bank runs developed by Egan et al. (2017; American Economic Review, 107, 169–216). We use our framework to analyze whether the 2008 merger between Wells Fargo and Wachovia was beneficial for social welfare. The results suggest that the stability of the financial
-
Vertical cross-ownership, double marginalization, and social welfare Bulletin of Economic Research (IF 0.888) Pub Date : 2023-12-27 Leonard F. S. Wang, Qiang Gong, Ji Sun
In this paper, we study the impacts of cross-ownership structure on double marginalization problem (DMP) and social welfare under downstream the Bertrand and Cournot competition. We find that in the Bertrand competition, DMP is more serious under backward cross-ownership than under forward cross-ownership. Under forward cross-ownership, because the upstream firm internalizes part of a retailer's profit
-
The nexus between national and regional reporting of economic news: Evidence from the United Kingdom and Scotland Bulletin of Economic Research (IF 0.888) Pub Date : 2023-11-05 Dooruj Rambaccussing, Andrzej Kwiatkowski
Broadsheet newspapers are an important source of economic news. Using a unique dataset of more than 489,000 articles over the last 20 years, this article asks the question whether newspapers published in Scotland communicate similar economic sentiments as UK-wide newspapers. The findings show that although Scottish and UK newspapers share a positive correlation, this relationship varies over time.
-
Quantitative easing effectiveness: Evidence from Euro private assets Bulletin of Economic Research (IF 0.888) Pub Date : 2023-10-19 Dimitris G. Kirikos
Proponents of quantitative easing (QE) unconventional policy have rather overstated some evidence that structural time series models do not predict long-term asset prices and yields as well as naive random walk forecasts, implying that predictions of price reversals cannot be profitable and, therefore, that QE effects are not transitory. Indeed, in this work we present evidence that naive models do
-
Effect of class size on student achievement in the COVID-19 “new normal” Bulletin of Economic Research (IF 0.888) Pub Date : 2023-10-14 Jesús M. Carro, Pedro Gallardo
The COVID-19 pandemic implied measures, such as school closures at the outbreak of the pandemic, negatively affected children's human capital. However, in some places, the situation later resulted in a reduction in class sizes in order to avoid the spread of SARS-Cov-2 in schools. We take advantage of this unexpected event to evaluate the effect on school performance of a significant class size reduction
-
How does economic policy uncertainty respond to permanent and transitory shocks? Bulletin of Economic Research (IF 0.888) Pub Date : 2023-10-09 Yoshito Funashima
The widely used economic policy uncertainty index relies on newspaper reports' word count and may be influenced by media coverage biases. This empirical study explores the response of the economic policy uncertainty index to permanent and transitory shocks, which are identified using a structural vector autoregressive model. We find an overreaction in the economic policy uncertainty index to a permanent
-
Effects of partial passive ownership in a successive endogenous timing game with R&D spillovers Bulletin of Economic Research (IF 0.888) Pub Date : 2023-10-09 Lili Xu, Yidan Zhang, Sang-Ho Lee
This study explores the effect of partial passive ownership (PPO) in a successive two-round endogenous timing game wherein firms choose research and development (R&D) investments in the first round and then subsequently choose quantities in the second round. We show that each firm prefers to be a quantity leader independent of the timing of R&D decisions, but the welfare-inferior Cournot competition
-
The optimal specific or ad valorem tax when the other tax is exogenously imposed in a free-entry Cournot oligopoly market Bulletin of Economic Research (IF 0.888) Pub Date : 2023-10-05 Kojun Hamada, Takao Ohkawa, Makoto Okamura
This study examines how optimal specific or ad valorem taxation in a free-entry Cournot oligopoly market is affected by a change in another exogenously given tax. We derive the sufficient conditions for the uniqueness of the optimal tax rate, which are related to the concavity of the marginal revenue and the log-concavity of the first derivative of the average cost function. By guaranteeing the uniqueness
-
Outsource to India: The impact of service outsourcing to India on the labor market in the United States Bulletin of Economic Research (IF 0.888) Pub Date : 2023-09-12 Jiwon Park
Service offshoring raises the fear of job loss for high-skilled workers, unlike goods offshoring, because workers at home compete with highly educated workers in low-income countries. This paper examines whether the increase in the United States's service offshoring to India has reduced the domestic employment of the occupations with greater exposure to Indian service imports. To account for endogeneity
-
Firm heterogeneity in competition among the big and the small Bulletin of Economic Research (IF 0.888) Pub Date : 2023-09-08 Kenji Fujiwara
This paper makes comparative statics in a model in which oligopolistic and monopolistically competitive firms that are heterogeneous in productivity compete. We demonstrate that (i) entry of oligopolistic incumbents, (ii) reduction in entry cost of monopolistically competitive entrants, and (iii) market size expansion improve the average productivity in the whole economy. However, (i) and (iii) raise
-
Uniform versus discriminatory tariffs when competition mode is endogenous Bulletin of Economic Research (IF 0.888) Pub Date : 2023-09-01 Ki-Dong Lee, Kangsik Choi
We examine the welfare implications of two tariff regimes when firms have a forward-looking view on trade policy. Discriminatory tariffs lead to Cournot competition, whereas uniform tariffs lead to diverse competition modes. If exporters are identical in production costs, all the trading countries are better off under the uniform rather than discriminatory tariff regime, which suggests a possibility
-
Loyalty of rural microfinance borrowers: International evidence Bulletin of Economic Research (IF 0.888) Pub Date : 2023-08-23 Md Aslam Mia
The growth and financial sustainability of a firm is tied to its ability to retain existing and potential clients. On the contrary, the defection of customers has a huge implication on firms including microfinance institutions (MFIs), suggesting that the attainment of customer loyalty is an important strategy for MFIs to improve their performance. Hence, this study attempts to investigate the level
-
On threshold effect of housing finance on shared prosperity: Evidence from sub-Saharan Africa Bulletin of Economic Research (IF 0.888) Pub Date : 2023-07-27 Christian Lambert Nguena, Fulbert Tchana Tchana, Albert Zeufack
Applying panel threshold regression technics along with alternative econometric investigation on a panel database of 48 sub-Saharan African (SSA) countries over the period 2000–2012, this paper analyzes the structure of housing finance in SSA countries and mainly verifies if there is a threshold effect on shared prosperity. Independently of the method used, our findings offer strong evidence of an
-
Smart access and smart protection for welfare gain in Europe during COVID-19: An empirical investigation using real-time data Bulletin of Economic Research (IF 0.888) Pub Date : 2023-07-27 Humaira Kamal Pasha
The COVID-19 (Coronoavirus Disease 2019) pandemic has had many disastrous effects on welfare globally, particularly in European countries. In recent research, a new debate has arisen as a result of the shift of day-to-day activities to virtual platforms, which has augmented concerns related to smart (data) access and smart (data) protection. This study examines the economic, social, and psychological
-
S&P 500 volatility, volatility regimes, and economic uncertainty Bulletin of Economic Research (IF 0.888) Pub Date : 2023-07-13 Bahram Adrangi, Arjun Chatrath, Kambiz Raffiee
We assess the relationship between regime-dependent volatility in S&P 500, economic policy uncertainty, the S&P 500 bull and bear sentiment spread (bb_sp), as well as the Chicago Board Options Exchange's VIX over the period 2000–2018. Our findings from two-covariate GARCH–MIDAS (GM) methodology, regime switching Markov Chain, and quantile regressions suggest that the association of realized volatility
-
Beneficial impact of tax reforms on tax revenue performances in Togo: Myth or reality? Bulletin of Economic Research (IF 0.888) Pub Date : 2023-07-04 Nimonka Bayale, Abdou-Fataou Tchagnao, Madow Nagou, Pouwemdéou Tchila
Tax reforms are often motivated by their potential to improve tax revenue mobilization. However, their actual impacts are difficult to quantify. Using cross-country panel data over the period 2000–2021, this article evaluates the impact of the 2012 tax reforms on tax revenue performance in Togo. We follow the Synthetic Control Method (SCM) estimation procedures. After comparing the observed evolution
-
The effect of the Affordable Care Act Medicaid expansion on consumer bankruptcies Bulletin of Economic Research (IF 0.888) Pub Date : 2023-07-04 Maude Laberge, Kodjo-Maawuegnigan Djiffa
Medical expenses have been associated with a large proportion of consumer bankruptcies in the United States. The objective of this study is to examine the relationship between the Medicaid expansion implemented in the context of the Affordable Care Act and consumer bankruptcy, overall and by chapter filing. We used a longitudinal study design with a study period of 2008–2017. We tested three approaches:
-
Inter- and intracountry effects of the Covid-19 pandemic on wages and economic growth Bulletin of Economic Research (IF 0.888) Pub Date : 2023-06-30 Óscar Afonso
This paper aims to investigate the impact of the Covid-19 pandemic on technological knowledge, wage inequality, and economic growth, by proposing a Direct-Technical-Change model with two economies, an Innovative and other Follower. Six hypotheses are considered: (i) decrease in the unskilled-labor supply, (ii) decrease in the absolute advantage of unskilled labor, (iii) decrease in the intensity of
-
The returns to education and wage penalty from overeducation: New evidence from Vietnam Bulletin of Economic Research (IF 0.888) Pub Date : 2023-06-28 Dai Binh Tran, Sasiwimon Warunsiri Paweenawat
This study intends to estimate the rate of returns to education in Vietnam, the distributive effects of education on wages, and the wage penalty from the incidence of overeducation in the Vietnamese labor market during 2004–2016. This study employs a pseudo-panel approach to address omitted variables bias and the unconditional quantile regression to identify the heterogeneity of returns to education
-
Expectations and the housing market: A model of house price dynamics Bulletin of Economic Research (IF 0.888) Pub Date : 2023-06-26 Jengei Hong, Doojin Ryu
We examine the characteristics of housing markets under adaptive and heterogeneous expectations. Model agents have finite horizons, and their borrowings are constrained by the collateral value of housing stock. Our model shows that expectation-driven housing price dynamics constantly change the direction of movement. The steady-state process of housing prices follows an endogenous oscillation process
-
The effects of broadcast on a team's market and on competitive balance from the perspective of fans maximizing utility Bulletin of Economic Research (IF 0.888) Pub Date : 2023-06-23 Hon Foong Cheah
We examine the decision of fans to attend the game or watch the exact televised match to address whether broadcast lowers revenue collected at the gate and worsens competitive balance. In most cases, broadcasts lower attendance and collection at the gate but do not necessarily worsen competitive balance. Weaker teams can benefit from broadcast revenue and catch up with their stronger counterpart. However
-
Foreign players, team production, and technical efficiency: Evidence from European soccer Bulletin of Economic Research (IF 0.888) Pub Date : 2023-06-23 David Boto-García, Carlos Varela-Quintana, Alvaro Muñiz
As on-field success is nowadays the main objective of European soccer clubs, good management needs to extract the highest sport success from the squad talent at hand. Because teams differ in their quality, performance needs to be compared with the best practice of comparable units. One remarkable source of heterogeneity across teams is the squad composition, which can produce gains from diversity together
-
Disclosure policies in all-pay auctions with bid caps and stochastic entry: The impact of risk aversion Bulletin of Economic Research (IF 0.888) Pub Date : 2023-04-28 Xiangyu Wang, Shulin Liu
We investigate how risk aversion affects the organizer's disclosing the actual number of bidders in an all-pay auction with an exogenous bid cap and stochastic entry. With an exogenous probability of participation, the organizer prefers fully concealing the number of participating bidders when bidders are risk neutral. However, this result does not hold with risk aversion. Specifically, whether the
-
Examination of the impacts of the immediate interest rate of the United States and the VIX on the Dow Jones Islamic Market Index Bulletin of Economic Research (IF 0.888) Pub Date : 2023-04-25 Oguzhan Ozcelebi, José A. Pérez-Montiel
This study examines the effects of the market volatility index of the Chicago Board Options Exchange (VIX) and the immediate interest rate of the United States on the Dow Jones Islamic Market Index (DJIMI) using quantile-based techniques and wavelet coherence (WTC) analysis with monthly data for the period January 2010to May 2021. A quantile cointegration model indicated that the relationship between
-
Graduate employment: Does the type of higher education institution matter? Bulletin of Economic Research (IF 0.888) Pub Date : 2023-04-19 Orlanda Tavares, Cristina Sin, Carla Sá, Francisco Pereira, Alberto Amaral
The paper analyses whether the type of institution from which students graduate has an impact on their unemployment propensity. It uses official data on the Portuguese higher education system, for 2018, at the program/institution level, which provides information on graduate unemployment, as well as demographic and socioeconomic background information. A fractional probit model on graduates’ propensity
-
Suicide mortality, long-term unemployment, and labor-market policies: Evidence from European countries Bulletin of Economic Research (IF 0.888) Pub Date : 2023-04-11 Eleftherios Goulas, Athina Zervoyianni
Using data from 25 EU countries spanning the period 1999–2017, this paper examines the relationship between working-age suicides and changes in long-term unemployment and tests for mitigating effects through the implementation of labor-market policies. The estimates suggest higher suicide risks following a rising rate of long-term unemployment. Passive support policies have a suicide-decreasing impact
-
R&D contribution in TFP growth of Greek industry: A limited information likelihood approach Bulletin of Economic Research (IF 0.888) Pub Date : 2023-04-03 Emmanuel Mamatzakis, Panagiotis Pegkas, Christos Staikouras, Constantinos Tsamadias
We provide a novel panel model to decompose total factor productivity (TFP) growth in the Greek industry at the firm level while we tackle the contribution of R&D. We, therefore, opt for parametric methodology that provides statistical inference and would validate the results. Our modeling departs from prior strong assumptions such as error terms across firms being independent. In fact, we provide
-
Corruption, remittances, and public goods: A unified framework Bulletin of Economic Research (IF 0.888) Pub Date : 2023-03-31 Luis Gautier, Puneet Vatsa
Remittances are an important source of income for the very countries afflicted by high levels of corruption. However, corruption undermines the development potential of remittances. With this in mind, we propose policy reforms that harness the potential of remittances while mitigating corruption. Unlike previous studies, we point to two channels: (1) the corrupt government's trade-off between its financial
-
New axioms for top trading cycles Bulletin of Economic Research (IF 0.888) Pub Date : 2023-03-31 Siwei Chen, Yajing Chen, Chia-Ling Hsu
The school choice problem is of great importance both in theory and practice. This paper studies the (student-optimal) top trading cycles mechanism (TTCM) in an axiomatic way. We introduce two new axioms: MBG (mutual best group)-quota-rationality and MBG-robust efficiency. While stability implies MBG-quota rationality, MBG-robust efficiency is weaker than robust efficiency, which is stronger than the
-
Decomposing the changes in poverty: Poverty line and distributional effects Bulletin of Economic Research (IF 0.888) Pub Date : 2023-03-29 Oihana Aristondo, Conchita D'Ambrosio, Casilda Lasso de la Vega
When measuring poverty in developed countries, the poverty line used to identify the poor is usually relative and set as a percentage of the median (or of the mean) of the total income. In consequence, when poverty is analyzed over a period of time, changes in the poverty level depend on the impact of evolving standards. To eliminate this effect, sometimes, an anchored poverty line is used. Furthermore
-
Predicting stock realized variance based on an asymmetric robust regression approach Bulletin of Economic Research (IF 0.888) Pub Date : 2023-03-29 Yaojie Zhang, Mengxi He, Yuqi Zhao, Xianfeng Hao
This paper introduces an asymmetric robust weighted least squares (ARLS) approach to improve the forecasting performance of the heterogeneous autoregressive model for realized volatility. The ARLS approach down-weights extreme observations to limit the bad influence of outliers on the estimated parameters. Compared with existing robust regression methods, our model further takes into account the asymmetry
-
Arithmetics of research specialization Bulletin of Economic Research (IF 0.888) Pub Date : 2023-03-27 Sergey V. Popov
In hiring decisions, universities explicitly reward focusing on a specific field. I model the use of research specialization (focusing) in hiring as a signal of ability. Without explicit reward for focusing, candidates who focus are more likely to be able. However, if job market rewards focusing, less able candidates who would otherwise be indifferent between focusing or not, start focusing, which
-
Investment subsidies and redistributive capital income taxation in a neoclassical growth model Bulletin of Economic Research (IF 0.888) Pub Date : 2023-03-07 Günther Rehme
How do investment subsidies bear on pure redistribution when coupled with capital income taxes? In a heterogeneous agent, neoclassical growth framework it is found that on impact, with no optimizing behavior, investment subsidies are good for growth but bad for redistribution. The opposite holds for capital income taxes. But when the government acts as a Stackelberg leader vis-à-vis the private sector
-
Microstructure and asset pricing: An insight on African frontier stock markets Bulletin of Economic Research (IF 0.888) Pub Date : 2023-02-18 Prince Hikouatcha, Arsène Aurelien Njamen Kengdo, Hans Patrick Bidias Menik, Pierre Ghislain Tchoffo Tioyem, Tii Njivukuh Nchofoung
This article investigates the impact of microstructure factors on asset pricing in some African stock markets. We use data on stocks listed on the Johannesburg Stock Exchange, the “Bourse Régionale des Valeurs Mobilières,” and the Nigeria Stock Exchange, and we consider international portfolio management from 2000 to 2014. Generalized least square and fixed effect are estimation methods used to highlight
-
Quality competition and worker training Bulletin of Economic Research (IF 0.888) Pub Date : 2023-02-06 John S. Heywood, John G. Sessions, Nikolaos Theodoropoulos
We examine the relationship between firm-sponsored training and product quality competition within a model of worker–firm bargaining. We develop a quality-adjusted monopolistically competitive setting in which firms invest in training to an extent that reflects: (i) the costs of training, (ii) the extent to which training increases product quality, and (iii) the extent to which product quality increases
-
Impact of international trade under dual labor markets Bulletin of Economic Research (IF 0.888) Pub Date : 2023-02-05 Haiwen Zhou
A country's unemployment rate can be affected by technology choice and the opening of international trade. This general equilibrium model examines the impact of international trade with the presence of dual labor markets in which manufacturing firms engage in oligopolistic competition and choose technologies with different marginal and fixed costs to maximize profits. In a closed economy, it is shown
-
Oil price shock and informal workers in dual labor markets Bulletin of Economic Research (IF 0.888) Pub Date : 2023-01-09 Sarbajit Chaudhuri, Saibal Kar
This paper examines the impact of a rise in oil prices on the wages of workers in the unorganized sector of a developing economy. The model economy is comprised of two non-traded transport sectors, formal and informal, along with other sectors. The main results that we obtain are as follows. The informal transport sector contracts when fuel price rises and lowers the real income of the informal workers
-
Notes on marriage markets with weak externalities Bulletin of Economic Research (IF 0.888) Pub Date : 2023-01-06 María Haydée Fonseca-Mairena, Matteo Triossi
We consider marriage markets with externalities. We focus on weak externalities, that is, markets in which each agent is primarily concerned about her partner. We formalize and prove the claim that weak externalities are not so significant in the marriage market: in this case, the ω-core and the α-core coincide and are both nonempty. In addition, we show that, if we allow agents to block matchings
-
The reaction of disagreements in inflation expectations to fiscal sentiment obtained from information in official communiqués Bulletin of Economic Research (IF 0.888) Pub Date : 2023-01-05 Gabriel Caldas Montes, Victor Maia
Using official communiqués about fiscal policy, we develop a fiscal sentiment indicator, and we verify the reaction of disagreements in inflation expectations to fiscal sentiment. This analysis is relevant to inflation targeting (IT) countries because transparency and communication can influence expectations. The results suggest that a more optimistic fiscal sentiment reduces disagreements in inflation
-
District-wide school reform and student performance: Evidence from Montgomery County, Maryland Bulletin of Economic Research (IF 0.888) Pub Date : 2023-01-02 Mark Cimiluca, Brian Hill
In the early 2000s, the Montgomery County (Maryland) Public School system implemented district-wide changes to funding, curriculum, staffing, and technology. Using data from 1995 to 2014, we employ a difference-in-differences strategy to show that the reforms significantly increased the percentage of students in Montgomery County who scored advanced on third- and fifth-grade math and reading tests
-
The demand for money and the real exchange rate misalignments in emerging European countries: A nonlinear approach Bulletin of Economic Research (IF 0.888) Pub Date : 2022-12-24 Idil Uz Akdogan
This paper investigates the extent to which domestic and foreign money balances in emerging European countries are influenced by foreign exchange considerations. A well-specified and stable relationship between real money demand and the exchange rate can be perceived as an important part of a successful monetary policy. This study examines the long-run determinants of real exchange rates (RERs) associated
-
Large lending and banks performance. Is there any relationship? Empirical evidence from US banks Bulletin of Economic Research (IF 0.888) Pub Date : 2022-10-26 Konstantinos Andriakopoulos, Konstantinos Kounetas
Large lending in the banking industry has sparked concerns about banks’ efficiency performance, particularly, if it is related to their credit risk, as trade credit, provided by large, creditworthy firms. We provide evidence of a rather neglected issue regarding the impact of large lending on banks’ efficiency using cost and profit stochastic functions. A unique dataset was constructed concerning all
-
Only the smartest? Motivating job characteristics for all ability levels and their impact on job satisfaction Bulletin of Economic Research (IF 0.888) Pub Date : 2022-10-19 Roberto Dopeso-Fernández, Giovanni Giusti, Aleksander Kucel
Using Program for the International Assessment of Adult Competencies data, we explore the relation between cognitive ability, proxied by an explicit test of individual numeracy level and the reported satisfaction of individuals with their job. The paper identifies a relation of individual cognitive ability on job satisfaction interacting with some characteristics of the job related to job complexity
-
Pandemic effects in the Solow growth model Bulletin of Economic Research (IF 0.888) Pub Date : 2022-10-17 Julio Carmona, Ángel León
We show how diseases can affect economic growth in a Solow growth model, with population growth and no technical progress, but modified to include a saving rate that depends on the individual health status. We successively insert this model into the SIS (susceptible–infected–susceptible) and SIR (susceptible–infected–recovered) models of disease spreading. In these two models, the spread of the infection
-
Pollution in strategic multilateral exchange: Taxing emissions or trading on permit markets? Bulletin of Economic Research (IF 0.888) Pub Date : 2022-10-11 Ludovic A. Julien, Anicet B. Kabré, Louis de Mesnard
We introduce polluting emissions in a sequential noncooperative oligopoly model of bilateral exchange. In one sector, a leader and a follower use polluting technologies which create negative externalities on the payoffs of strategic traders who belong to the other sector. By modeling emissions as a negative externality, we show that the leader pollutes more (less) than the follower when strategies
-
Corporate social responsibility and market entry Bulletin of Economic Research (IF 0.888) Pub Date : 2022-10-09 Domenico Buccella, Michał Wojna
Is the decision of firms to pursue social interest and promote social progress philanthropic or motivated by strategic reasons? Using a simple Spence–Dixit entry model game with homogeneous goods, this paper studies the possible anticompetitive effect of the adoption of corporate social responsibility (CSR) in the form of “consumer friendliness” (i.e., firms’ attention to the welfare of consumers)
-
Employment to output elasticities and reforms towards flexicurity: Evidence from OECD countries Bulletin of Economic Research (IF 0.888) Pub Date : 2022-10-09 Holger Görg, Cecília Hornok, Catia Montagna, George E. Onwordi
Labor market reforms in the direction of “flexicurity” have been widely endorsed as a means to increase an economy's ability to adjust to negative shocks while offering adequate social safety nets. This paper empirically examines how such reforms influence employment's responsiveness to output fluctuations (employment–output elasticity). To address this question, we employ a single equation error correction
-
Good students, avid readers: The cost of academic success Bulletin of Economic Research (IF 0.888) Pub Date : 2022-10-03 Antonello E. Scorcu, Laura Vici, Roberto Zanola
The effects of reading habits on academic performances have been carefully investigated, but little is known about the effects of academic achievements on students’ leisure reading. This paper investigates this issue by estimating the effects of academic achievements, proxied by the number of exams passed, on leisure reading, measured by the number of leisure books read in a year. Using an online survey