经济学最新文献

{"title":"Digital economy, technical progress reversal, and climate change governance–insights on digital technology and data factor","authors":"Jixin Cheng ,&nbsp;Dingjian Yang ,&nbsp;Lan Xu","doi":"10.1016/j.eneco.2025.108848","DOIUrl":"10.1016/j.eneco.2025.108848","url":null,"abstract":"<div><div>The rise of the digital economy has undoubtedly created favorable conditions for advancing low-carbon development and strengthening climate change governance. This study develops a model of directed technical change that incorporates both digital technology and the data factor to explore the dynamic relationships among the digital economy, directed technical progress, and climate change. Building on these theoretical insights, the study further proposes a policy mix for effective climate governance enabled by the digital economy. The results suggest that: (1) The application of digital technology and the data factor generates a “multiplier effect”, causing technical progress to favor the sector that accumulates more data. (2) In the absence of climate policies and with equivalent levels of digital technology application across sectors, climate deterioration will accelerate. (3) Governments can reverse the direction of technical progress by implementing a mix of policies, including temporary carbon and resource taxes, temporary clean R&amp;D subsidies, and permanent subsidies for data usage and machinery purchases. Through the mechanism of the multiplier effect, the use of pollution-intensive intermediate goods will decline more rapidly, thereby helping to avert potential climate disasters. (4) The development of the digital economy can reduce the intensity of required climate policies while improving social welfare. The findings of this study provide policy guidance and a theoretical basis for effective climate governance in the era of the digital economy.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"150 ","pages":"Article 108848"},"PeriodicalIF":14.2,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144896094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cybersecurity Risk and Firm Investment Efficiency","authors":"Thao Dinh, Hsin-I Chou, Jing Zhao","doi":"10.1016/j.frl.2025.108266","DOIUrl":"https://doi.org/10.1016/j.frl.2025.108266","url":null,"abstract":"This paper examines the relationship between cybersecurity risk and firm investment efficiency. It documents that cybersecurity risk contributes to overinvestment but does not influence underinvestment. The results remain robust after considering endogeneity concerns and alternative model specifications. We also identify key underlying mechanisms driving the relationship, including empire-building, external monitoring, and information asymmetry. Specifically, the impact of cybersecurity risk on overinvestment is more pronounced among firms with greater empire-building tendencies, weaker external monitoring, and higher information asymmetry.","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"14 1","pages":""},"PeriodicalIF":10.4,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144898881","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Indoor housing conditions, neighborhood environment satisfaction, and mental health among older adults in China: Urban-rural differences","authors":"Yuexuan Mu ,&nbsp;Zhao Li","doi":"10.1016/j.cities.2025.106392","DOIUrl":"10.1016/j.cities.2025.106392","url":null,"abstract":"<div><div>Rapid population aging in China raises pressing concerns about older adults' mental health. This study examines how indoor housing conditions (IHC) and neighborhood environment satisfaction (NES) jointly relate to cognitive function and depressive symptoms among Chinese older adults, exploring whether these relationships differ by urban-rural contexts. Drawing on three waves of data (2018, 2020, 2023) from the China Longitudinal Aging Social Survey (CLASS), we employed multilevel linear models and marginal effects analyses. Results revealed significant interactions between IHC and NES: supportive neighborhoods amplified the cognitive benefits of improved housing and buffered depressive symptoms, particularly among rural residents. Urban older adults benefitted most from improved indoor lighting and even flooring, which likely reduce fall risks and enhance comfort, while rural older adults' depressive symptoms were most strongly associated with indoor toilets and bathrooms, highlighting daily physical and psychological burdens. These findings provide nuanced guidance for targeted, context-specific housing interventions to promote mental health among older adults, emphasizing tailored strategies for urban and rural populations.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"167 ","pages":"Article 106392"},"PeriodicalIF":6.6,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144886593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Planning against planning: Anarchist urbanism as a critical praxis","authors":"Zuhriddin Juraev,&nbsp;Young-Jin Ahn","doi":"10.1016/j.cities.2025.106391","DOIUrl":"10.1016/j.cities.2025.106391","url":null,"abstract":"<div><div>Urban planning has historically functioned as a tool for state territorialization, reinforcing hierarchical rule through spatial organization. In contrast, anarchist urbanism prioritizes mutual aid, self-organization, and collective autonomy. Yet examples such as New York's community gardens, Berlin's housing cooperatives and participatory initiatives across Europe show that these efforts are often intertwined with the very state-market systems they seek to resist. Taking up the debates between Marxist and anarchist currents within radical geography, this study argues that the value of anarchist urbanism lies less in offering scalable alternatives than in exposing how planning reproduces property relations, expert authority and capitalist spatial logics. By diagnosing these tensions, in which autonomy is both enabled and constrained by dominant systems, the study questions the supposed inevitability of hierarchical urban governance.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"167 ","pages":"Article 106391"},"PeriodicalIF":6.6,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144886770","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Social context, framing, and compliance with the law: experimental evidence","authors":"Carlos A. Chávez ,&nbsp;James J. Murphy ,&nbsp;John K. Stranlund","doi":"10.1016/j.jebo.2025.107207","DOIUrl":"10.1016/j.jebo.2025.107207","url":null,"abstract":"<div><div>We investigate the effects of law enforcement framing and social context on compliance with the law in a lab-in-field experiment. In particular, we examine the effects of framing a simple lottery choice as a law enforcement problem, the effects of noncompliance imposing an external cost on independent third parties, and the effects of compliance providing a public good to other group members. We varied the probability of monitoring for each of these contexts from low probabilities that would not induce a risk-neutral individual to comply to high probabilities that would motivate such an individual to comply. Increased monitoring had a positive effect on compliance regardless of the context. We found weak evidence that law enforcement framing increased compliance relative to the simple lottery when compliance provided a public good to group members, but the law framing had an unexpected negative effect on compliance when obeying the law did not benefit group members. Compliance was not affected when violating the law imposed an external cost on third parties. However, compliance with the law was higher when it provided a public good to group members, especially under low monitoring probabilities.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"238 ","pages":"Article 107207"},"PeriodicalIF":2.3,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144889752","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Understanding the spatial differentiation and spatiotemporal mechanisms of carbon emissions from urban transport","authors":"Xing Gao ,&nbsp;Huizi Wang ,&nbsp;Yuerong Zhang ,&nbsp;Mengqiu Cao","doi":"10.1016/j.cities.2025.106380","DOIUrl":"10.1016/j.cities.2025.106380","url":null,"abstract":"<div><div>As the process of urbanisation accelerates, carbon emissions are reshaping the urban spatial structure. Current theoretical and empirical studies mostly discuss the spatiotemporal patterns of carbon emissions at different spatial scales, and distinguish the impacts of carbon emissions on urban growth from the perspective of spatial heterogeneity. Essentially, these studies focus on the spatial effects of carbon emissions caused by urbanisation. However, in the process of urban development, carbon emissions are also constantly reshaping the spatial structure and functional distribution of cities. Thus, this study aims to gain greater insight into the spatial differentiation and spatiotemporal mechanisms of urban carbon emissions. Using Beijing as a case study, we employ the community detection method, P-Z score analysis and a spatially interpretable machine learning approach to address the aforementioned questions, respectively. Our results show that Beijing demonstrates a total modular community structure, comprising seven identified communities. The patterns of carbon emissions observed for the top 10 metro stations in terms of importance within and between communities differ considerably. In addition, human activity intensity, socio-economic dynamics, and land-use complexity significantly influence spatial differentiation driven by urban carbon emissions, with distinct patterns emerging across different urban communities. The study contributes to existing knowledge in the following ways: first, it not only evaluates carbon emissions as a product of urbanisation, but also focuses on how carbon emissions can counteract urban spatial planning. Second, it departs from the traditional administrative functional zoning spatial units used in the analysis of carbon emissions and reconstructs urban spatial divisions based on carbon emissions. Third, it offers a sustainable indicator system with which to identify different stations in different spaces and analyse the spatial mechanisms of urban carbon emissions.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"167 ","pages":"Article 106380"},"PeriodicalIF":6.6,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144890806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Can natural resource endowment and human capital development drive clean cooking transition in sub-Saharan African countries?","authors":"Samson Adeniyi Aladejare ,&nbsp;Stephen Kelechi Dimnwobi","doi":"10.1016/j.enpol.2025.114835","DOIUrl":"10.1016/j.enpol.2025.114835","url":null,"abstract":"<div><div>This study examines the role of natural resource rent and human capital development in driving the transition to clean cooking fuel and technology in 37 Sub-Saharan African countries. Data spanning from 2000 to 2023 were used and analysed using the method of moment quantile regression technique. A key novelty of the study is the explicit disaggregation of the effects into three levels—aggregate, urban, and rural—for comparison. Findings reveal that while natural resource endowment and human capital positively enhance access to efficient cooking energy, the impact of human capital development is more pronounced in the three estimates. However, both effects were more overwhelming in the urban than the aggregate and rural estimates. Also, the natural resource rent-human capital interplay was significantly adverse, but marginally worsened aggregate access to clean cooking options in the low-to middle-intense category. Although same negative impact was observed in the urban and rural outcomes, the effect was relatively constant at all access levels in the urban, and only substantial in the middle- and high-tense levels in the rural estimate. The study proposes policy measures to facilitate the transition from traditional cooking energy sources to efficient modern alternatives.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"207 ","pages":"Article 114835"},"PeriodicalIF":9.2,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144886185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Unshrouding product-specific attributes through financial education","authors":"Olga Balakina ,&nbsp;Vimal Balasubramaniam ,&nbsp;Aditi Dimri ,&nbsp;Renuka Sane","doi":"10.1016/j.jdeveco.2025.103604","DOIUrl":"10.1016/j.jdeveco.2025.103604","url":null,"abstract":"<div><div>Financial product-specific knowledge is increasingly necessary for households to make informed choices, especially as firms often shroud important features. In a field experiment with a sub-optimal, shrouded insurance product in India, we test two product-specific education interventions: one based on rules of thumb and the other combining rules of thumb with explicit product evaluation. We find that rules-of-thumb education significantly improves financial decisions, while explicit product evaluation appears to counteract these positive effects. To assess the economic significance of our findings, we redefine successful financial education as achieving a Pareto-efficient outcome—ensuring that gains for newly educated consumers do not come at the expense of uninformed consumers. Our estimated effects, along with the modest positive treatment effects documented elsewhere, may result in too few informed consumers, potentially rendering such interventions ineffective.</div></div>","PeriodicalId":48418,"journal":{"name":"Journal of Development Economics","volume":"178 ","pages":"Article 103604"},"PeriodicalIF":4.6,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144903070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analyzing price efficiency using machine learning generated price indices: The case of the Chilean used car market","authors":"Fernando Lefort ,&nbsp;Fernando Díaz","doi":"10.1016/j.econmod.2025.107257","DOIUrl":"10.1016/j.econmod.2025.107257","url":null,"abstract":"<div><div>This paper examines how the prices of newly imported cars affect the valuation of used vehicles in Chile’s secondary car market, offering a novel perspective on price efficiency within durable goods markets. Previous studies analyze substitution effects between new and used vehicles in the context of equilibrium models with demand-side heterogeneity. Leveraging a dataset of 2.7 million used car advertisements, we employ Machine Learning techniques to construct synthetic price indices, which serve as the foundation for an event study. Our findings reveal a prompt and statistically significant adjustment in used car prices, particularly among newer and higher-end models, even before the public release of import price data. These results suggest a high degree of informational efficiency in Chile’s used car market and are consistent with demand substitution effects between new and used cars and the incorporation of supply-side shocks by market participants into price valuations.</div></div>","PeriodicalId":48419,"journal":{"name":"Economic Modelling","volume":"152 ","pages":"Article 107257"},"PeriodicalIF":4.7,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144893860","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Allies and enemies: On the political determinants of trade in critical minerals","authors":"Markos Farag ,&nbsp;Chahir Zaki","doi":"10.1016/j.resourpol.2025.105701","DOIUrl":"10.1016/j.resourpol.2025.105701","url":null,"abstract":"<div><div>While trade in critical minerals is increasingly shaped by geopolitical tensions, most existing studies emphasize economic factors and overlook the role of political alignment. This paper addresses that gap by examining how political dissimilarity – measured through UN voting patterns – affects bilateral trade in critical minerals, which are essential to renewable energy and high-tech applications. Moreover, we distinguish between supply-side and demand-side characteristics. On the supply side, we differentiate between processed and semi-processed products and between products traded in concentrated and diversified markets. On the demand side, we classify minerals based on whether they are used in energy and digital applications or not. Employing a gravity model over the period 1995–2022 and the Poisson Pseudo Maximum Likelihood (PPML) estimator, we account for zero trade flows and heteroskedasticity. Our analysis reveals that political dissimilarity with China and the United States is an important determinant of trade in critical minerals, particularly for semi-processed products, those used in energy and digital transitions, and products with more geographically concentrated markets. At the product level, minerals such as nickel, cobalt, vanadium, molybdenum, copper, and aluminum appear especially sensitive to strategic considerations. Finally, our findings are robust across different model specifications.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"109 ","pages":"Article 105701"},"PeriodicalIF":10.2,"publicationDate":"2025-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144878260","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}