Article
Economics
Leonor Coutinho, Dimitrios Georgiou, Maria Heracleous, Alexander Michaelides, Stella Tsani
Summary: Evidence shows that fiscal policy in resource-dependent countries is procyclical, but less so in more democratic regimes and countries with stronger checks and balances. Sovereign wealth funds can limit procyclicality in some cases, while there is no evidence supporting fiscal rules in this regard.
ECONOMIC MODELLING
(2022)
Article
Business
Harsimran Sandhu, Soumya Guha Deb
Summary: This study examines the impact of changes in the incentive structure on mutual fund flows in India. The authors analyze data from the largest distributors in India between 2013 and 2020 and find that changes in distributor commissions have a significant negative effect on mutual fund flows, leading to a diversion of funds towards alternative investment avenues.
INTERNATIONAL JOURNAL OF BANK MARKETING
(2023)
Article
Economics
Koji Yokote
Summary: In a transferable utility matching environment, the gross substitutes condition and the gross complements condition ensure the existence of equilibrium outcomes. The difference lies in the direction of price changes: the former condition requires that any set of demanded contracts is still demanded after the prices of other contracts increase, while the latter condition requires that any set of demanded contracts is still demanded after the prices of other contracts decrease.
Article
International Relations
Nadiya Kostyuk, Erik Gartzke
Summary: There is a debate among experts about whether conflict in cyberspace leads to or prevents conflict in other domains. However, there is a third possibility where the internet separately influences both virtual and kinetic disputes. This is because increased internet access causes countries to engage in aggressive behavior online, while economic and social changes make traditional forms of conflict less advantageous.
JOURNAL OF CONFLICT RESOLUTION
(2023)
Article
Business, Finance
Olga Klinkowska, Yuan Zhao
Summary: In this paper, the performance of US SRI mutual funds and its relation to the flow of new money are comprehensively analyzed, taking into account the sophistication of investors. The study finds that retail SRI funds outperform institutional SRI funds, earning positive abnormal returns before and after fees. There is a convex flow-performance relation for retail SRI funds, but not for institutional ones. The paper provides new insights into the role of investor sophistication in these relations in the presence of sustainability preferences.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2023)
Article
Economics
Waldemar Marz, Johannes Pfeiffer
Summary: This study explores how a resource-rich country determines its extraction strategy by considering its influence on the capital market. The findings suggest that the supply of resources has a significant impact on capital returns and affects the extraction decisions of resource monopolists. The general-equilibrium feedback and capital asset holdings alter the monopolist's extraction strategy and are relevant for future technological changes.
Article
Economics
Antonio Coppola, Matted Maggiori, Brent Neiman, Jesse Schreger
Summary: Global firms finance themselves through foreign subsidiaries located in tax havens, which makes it difficult to accurately determine their true economic location in official statistics. Bilateral portfolio investment from developed countries to firms in large emerging markets is significantly underestimated, with the U.S. position in Chinese firms being understated by nearly $600 billion. Offshore issuance in tax havens also impacts our understanding of the currency composition of external portfolio liabilities and foreign direct investment.
QUARTERLY JOURNAL OF ECONOMICS
(2021)
Article
Business, Finance
Zhanhao Wang, Hong Zhao, Lingxiang Li
Summary: Research has found that wealth management products can help reduce banks' cost of funds, leading to lower borrowing costs. This finding shows a positive impact of this controversial but increasingly popular bank product. The study also analyzes four mechanisms through which WMPs lower banks' cost of funds, and finds variations across different types of banks.
JOURNAL OF FINANCIAL STABILITY
(2022)
Article
Environmental Studies
Ishmael Ackah
Summary: Many African countries have established Sovereign Wealth Funds (SWFs) to deal with fiscal issues related to oil revenues, aiming to avoid the potential "oil curse" by emulating the Norwegian model. These funds are funded by hydrocarbons and serve to support governments, provide funds for future generations, and develop specific sectors. Despite challenges such as low investment returns, high interest rate borrowing, and governance issues, a cost-benefit analysis of SWF strategies is recommended before investment decisions are made.
ENERGY RESEARCH & SOCIAL SCIENCE
(2021)
Article
Business
Miriam Delgado-Verde, Gregorio Martin-de Castro, Jorge Cruz-Gonzalez, Jose Emilio Navas-Lopez
Summary: This study found that internal R&D and external knowledge sourcing can be complementary in some cases, but substitutive in others. Additionally, corporate reputation can influence this interactive effect.
EUROPEAN MANAGEMENT JOURNAL
(2021)
Article
Business, Finance
Minjae Koo, Volkan Muslu
Summary: This study finds that bond mutual funds whose managers concurrently manage portfolios with performance-based fees receive lower fund flows and overstate their asset values compared to those whose managers do not. The reduction in fund flows and overstatement of fair values are amplified when these funds underperform their peers. The overstatement of fair values is also increased when these funds exhibit redemption risk. The findings suggest that conflicts of interest associated with side-by-side management in mutual funds result in adverse operational and reporting outcomes besides underperformance.
JOURNAL OF BANKING & FINANCE
(2023)
Article
Economics
Yang Shi, Shu Chen, Ruiming Liu, Yankun Kang
Summary: Understanding the reasons and mechanisms for fund flows in capital markets is crucial. This study provides evidence on the impact of fund name change on fund flow, using mutual fund renaming events during the 2015 stock market downturn in China. The findings show that equity funds renamed as hybrid experience a 15% increase in inflows after the change, which cannot be fully explained by factors such as investment strategies or performance, but rather by the influence on investor attention.
ECONOMIC MODELLING
(2022)
Article
Economics
Andres Mauricio Gomez-Sanchez, Juan A. Manez, Juan A. Sanchis-Llopis
Summary: Regardless of the technological intensity of the industry, active trading strategies of exporting and importing have positive impacts on productivity. Positive complementary synergies are found between exporting and importing in the med/high-tech sectors, while importing and exporting appear to be substitutes in low-tech and med/low-tech sectors.
REVIEW OF INTERNATIONAL ECONOMICS
(2022)
Article
Economics
Alexis Montambault Trudelle
Summary: This article explores the activities of Saudi Arabia's Public Investment Fund (PIF) to demonstrate the influence of domestic politics on sovereign wealth funds (SWFs) decision-making. The study finds that the PIF mainly invests in companies linked to family-owned conglomerates and merchant elites with connections to the Saudi government.
NEW POLITICAL ECONOMY
(2023)
Article
Management
Guillermo Baquero, Marno Verbeek
Summary: Investors in hedge funds tend to rely too heavily on past performance streaks, which may not be indicative of future success. This study suggests that investors may not be weighing information optimally, leading to overreaction to performance streaks and overlooking other important factors in fund selection. Ultimately, the findings do not support the belief that sophisticated investors possess superior information or information processing abilities.
MANAGEMENT SCIENCE
(2022)
Article
Ecology
Simon Rabaa, Robert Wilken, Sylvie Geisendorf
Summary: Energy efficiency measures are crucial for combating climate change, but rebound effects may undermine their effectiveness. This study finds that prior energy efficiency behavior does not hinder subsequent climate-friendly behavior, which is determined by individual demographics and environmental attitudes.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
James R. Meldrum, Patricia A. Champ, Hannah Brenkert-Smith, Christopher M. Barth, Abby E. McConnell, Carolyn Wagner, Colleen Donovan
Summary: This study reassessed a previous study using a richer dataset and found that individuals with lower incomes are less likely to participate in cost-sharing programs, and even if they do participate, they contribute a lower share. This indicates potential economic equity concerns.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Daniel Rueb
Summary: This paper examines the distributional effects of the European Commission's Fit-for-55 package at the household level in seven EU countries and finds that a household-size specific lump-sum refund can mitigate the negative distributional effects of a carbon tax and reduce overall inequality.
ECOLOGICAL ECONOMICS
(2024)
Correction
Ecology
Anke Jacksohn, Miguel Angel Tovar Reanos, Frank Pothen, Katrin Rehdanz
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Pierre Chiaverina, Sophie Drogue, Florence Jacquet
Summary: This study investigates the impact of farmers' participation in different short food supply chains (SFSCs) on synthetic pesticide use and crop yields. The findings show that farmers who sell part of their crops through direct-to-consumer channels use significantly fewer synthetic pesticides compared to those who sell through long food supply chains. However, there is no evidence that farmers involved in direct-to-retailer channels use significantly fewer synthetic pesticides. Additionally, there is no indication that SFSC participation affects crop yields.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Kangyin Dong, Yang Liu, Jianda Wang, Xiucheng Dong
Summary: This study uses the generalized method of moments (GMM) model to explore the relationship between the digital economy and energy vulnerability in 110 economies. The findings suggest that the digital economy effectively reduces energy vulnerability, with digital infrastructure and social impact being the main contributors. Furthermore, the digital economy helps upgrade the industrial structure and financial development level, thereby reducing energy vulnerability. Additionally, the negative impact of the digital economy on energy vulnerability is more significant in regions with higher income levels.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Romain Espinosa, Nicolas Treich
Summary: This study examines a simple model of consumption of animals with altruistic behavior towards animals. The model reveals a public good issue, where the market equilibrium leads to low quality and excessive quantity of animal lives when they are not worth living. The implications of the findings and the significance of the modeling choices for future economic research on animal welfare are discussed.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Arianna Buratto, Lorenzo Lotti
Summary: Finding ways to steer consumers towards vegetarian and plant-based meals is important for reducing the environmental impact of diets. In this study, we investigated the use of nudges in restaurants to increase sales of vegetarian and plant-based dishes. We found that removing symbols for these dishes increased sales, while adding a low emissions symbol had no effect. However, when the nudge was made transparent through a statement, sales significantly increased. These findings support the use of nudges as cost-effective interventions to address unsustainable food consumption in the hospitality sector.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Emmanuel Paroissien, Timothy K. M. Beatty, Antoine Nebout
Summary: This article provides empirical evidence that the opportunity cost of time explains the frequency of household food waste. The study found that proxies for the opportunity cost of time were positively correlated with the probability of reporting wasting food.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Jefim Vogel, Gauthier Guerin, Daniel W. O'Neill, Julia K. Steinberger
Summary: This study explores the vulnerability of livelihoods to a reduction in economic output and introduces a novel analytic framework to describe their relationship. The study finds that the vulnerability is not inevitable but arises from insecurity in wage labor, adequate incomes, and pensions. These conditions are primarily due to profit maximization and neoliberal welfare and labor policies. The study identifies a range of interventions to overcome this vulnerability and make stringent environmental policies socially sustainable and politically palatable.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Franziska Dorn, Simone Maxand, Thomas Kneib
Summary: Understanding the interconnected nature of rising carbon emissions and income inequality is crucial to achieve social and ecological sustainability. The distributional copula model used in this study uncovers complex interdependencies that standard linear regression techniques might hide.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Darius Corbier, Frederic Gonand
Summary: The article investigates the macroeconomic channels of transmission of the low-carbon transition in two official scenarios for the French power system under different oil price scenarios. The results show that technical progress and substitution mechanisms can drive the decarbonization of the economy and growth, with energy demand and durable goods demand being the main transmission channels.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Gloria Amaris, Stepan Vesely, Stephane Hess, Christian A. Klockner
Summary: The study of human behavior is crucial for the development of policies for sustainability. It is important to consider the possibility of spillover effects in mathematical models, as exposure to related choices can influence subsequent behavior. Our study demonstrates the existence of these spillover effects and showcases the effectiveness of discrete choice models.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Sonia Almeida Neves, Antonio Cardoso Marques, Leonardo Batista de sa Lopes
Summary: This paper investigates the impact of European Union regulations on e-waste exports. The findings suggest that taxation is ineffective in reducing e-waste exports and may even increase them. Additionally, high dependence on foreign raw materials and sub-standard waste collection systems contribute to the increase in e-waste exports. Therefore, investing in e-waste collection facilities can better utilize the valuable resources in this waste.
ECOLOGICAL ECONOMICS
(2024)
Article
Ecology
Gregor Semieniuk
Summary: Efforts to decouple economic growth from resource use and negative environmental impacts have yielded inconclusive results, partially due to the uncertainties in historical measurement arising from definitional changes to GDP. This study examines the impact of GDP vintages on decoupling results and finds that a significant number of countries switch between relative decoupling and recoupling, and that GDP vintages also affect environmental Kuznets curve results and the decline in global energy intensity. The inconsistencies in economic measurement introduce ambiguity into historical decoupling evidence and model projections into the future.
ECOLOGICAL ECONOMICS
(2024)