经济学最新文献

{"title":"Environment vs. economic growth: Do environmental preferences translate into support for Green parties?","authors":"Vladimir Otrachshenko ,&nbsp;Olga Popova","doi":"10.1016/j.ecolecon.2025.108779","DOIUrl":"10.1016/j.ecolecon.2025.108779","url":null,"abstract":"<div><div>This paper contributes to a better understanding of the drivers of electoral support for Green parties and the environmental actions they promote, which is crucial for ensuring the long-term feasibility of environmental policies. We examine whether individual environmental preferences translate into voting for Green parties and analyze the mechanisms behind this effect. Employing an individual-level survey from developed and developing economies matched with the political parties' programs globally, we find that individuals who prefer environmental protection over economic growth are likely to translate their preferences into voting and supporting Green parties. These findings are robust to alternative definitions of Green parties and environmental preferences, as well as to potential endogeneity concerns. The key mechanisms behind this relationship are changes in the stringency of environmental regulations, individual economic insecurity, and individual- and country-level exposure to environmental changes. The effect of environmental preferences on Green party voting is less pronounced among individuals living in rural areas and those who are economically disadvantaged, including those with lower levels of education and income. These results suggest that support for Green parties and environmental policies is contingent on voters' economic security, even when environmental preferences are strong.</div></div>","PeriodicalId":51021,"journal":{"name":"Ecological Economics","volume":"239 ","pages":"Article 108779"},"PeriodicalIF":6.3,"publicationDate":"2025-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144908983","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":"Household carbon caps and tariffs: A living lab experiment","authors":"Leandra Scharnhorst ,&nbsp;Thorben Sandmeier ,&nbsp;Max Kleinebrahm ,&nbsp;Wolf Fichtner","doi":"10.1016/j.erss.2025.104294","DOIUrl":"10.1016/j.erss.2025.104294","url":null,"abstract":"<div><div>Transnational efforts to combat climate change are intensifying, with Germany targeting net-zero emissions by 2045. The residential sector is a significant CO₂ emitter but lacks direct mitigation strategies, such as personal carbon budgeting and trading, which are common in industry. Although theoretical research on personal carbon trading exists, real-world household-level studies are scarce. This study addresses that gap by examining the implementation of household carbon caps and tariffs in a living lab experiment. Conducted in the Energy Smart Home Lab, the experiment involved three households under weekly carbon caps, with the option to purchase additional allowances under two different tariffs. In two households, photovoltaic feed-in was accounted for to incentivize load shifting and maximize self-consumption. Additionally, participants were encouraged through economic and non-economic incentives to adhere to a 2 kW power limit during simulated grid congestion. Real-time energy consumption monitoring and weekly interviews provided insights into how participants responded to the imposed carbon limits and power restrictions. Essential household activities, such as cooking and heating, occasionally took precedence over economic motivations, leading to breaches of the power limit. As weekly carbon emission caps were reduced by 45 % to 75 % by the end of the intervention, participants faced substantial challenges, compounded by unmodifiable appliance emissions and external pressures like exams. Although limited in sample size, this study is the first to combine carbon caps, tariffs, real-time feedback, and photovoltaic-based incentives in a living lab setting.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"127 ","pages":"Article 104294"},"PeriodicalIF":7.4,"publicationDate":"2025-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144907495","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":"Skill-biased labour market effects of environmental policy and green energy transition in Italy","authors":"Asif Javed ,&nbsp;Nimra Usman","doi":"10.1016/j.enpol.2025.114833","DOIUrl":"10.1016/j.enpol.2025.114833","url":null,"abstract":"<div><div>Environmental regulations and energy transition play an instrumental role in pollution mitigation and labour dynamics, impacting skilled-biased workers. While previous research has addressed the green energy transition and environmental regulations, the exploration of their impact on skill-biased labour has remained limited. This study integrates Environmental Policy Stringency (EPS), Green Energy Transition (GETR), and macroeconomic indicators to analyse the skill structure, focusing on high-skilled (HSL) and low-skilled (LSL) labour demand in Italy from 1992 to 2020. By employing the Novel Dynamic Simulated Autoregressive Distributed Lag (DYARDL) model and the frequency domain causality (FDC) test, our research investigates both the long term and short term relationships among variables, while exploring the causal direction. The study's findings strongly suggest that variables exhibit longterm cointegration. Moreover, the research indicates an anticipated rise in demand for high-skilled labour due to stringent environmental regulations and the transition to renewable energy. Conversely, the study highlights a potential decrease in the demand for low-skilled labour in traditional energy sectors. It is advisable to regulate labour market impact assessments before implementing any significant changes; strengthen the social safety net to cushion the transition phase; establish a labour monitoring unit to analyse evolving trends of the Green transition impacting labour markets; target green investments geographically to upskill semi-skilled and unskilled workers; simplify the regulatory framework; and mainstream green apprenticeships and skill-based modules in formal education.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"207 ","pages":"Article 114833"},"PeriodicalIF":9.2,"publicationDate":"2025-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144907697","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":"Pro-cyclical emissions, real externalities, and optimal monetary policy","authors":"Francesco Giovanardi ,&nbsp;Matthias Kaldorf","doi":"10.1016/j.euroecorev.2025.105124","DOIUrl":"10.1016/j.euroecorev.2025.105124","url":null,"abstract":"<div><div>We study optimal monetary policy in an analytically tractable New Keynesian DSGE-model with an emission externality. Empirically, emissions are strongly pro-cyclical and output in the flexible price equilibrium overreacts to productivity shocks, relative to the efficient allocation. At the same time, output under-reacts relative to the flexible price allocation due to sticky prices. Therefore, it is not optimal to simultaneously stabilize inflation and to close the natural output gap, even though this would be feasible. Real externalities affect the LQ-approximation to optimal monetary policy and we extend the analysis of Benigno and Woodford (2005) to inefficient flexible price equilibria. For central banks with a dual mandate, optimal monetary policy places a larger weight on output stabilization and targets a non-zero natural output gap, implying a higher optimal inflation volatility.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"179 ","pages":"Article 105124"},"PeriodicalIF":2.4,"publicationDate":"2025-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144918933","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":"Does stock market liberalization restrain corporate misconduct: Evidence from research and development manipulation","authors":"Zhida Zhang,&nbsp;Peiheng Ruan,&nbsp;Yuetang Wang","doi":"10.1016/j.irfa.2025.104595","DOIUrl":"10.1016/j.irfa.2025.104595","url":null,"abstract":"<div><div>This paper investigates the impact of stock market liberalization on corporate research and development (R&amp;D) manipulation, using data from China's A-share listed firms between 2009 and 2023 and leveraging the Mainland–Hong Kong Stock Connect Program as a quasi-natural experiment. The results show that stock market liberalization significantly reduces firms' engagement in R&amp;D manipulation. This mitigating effect appears to stem from reduced agency costs, improved information transparency, and heightened external monitoring. Cross-sectional analyses further reveal that the effect of liberalization varies depending on investor sentiment, analyst coverage, and industry characteristics. Overall, the study provides new insights into how stock market liberalization can help emerging markets address corporate misconduct.</div></div>","PeriodicalId":48226,"journal":{"name":"International Review of Financial Analysis","volume":"106 ","pages":"Article 104595"},"PeriodicalIF":9.8,"publicationDate":"2025-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144920362","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":"Assessing shelter sustainability in refugee camps in the Middle East: Towards adequate, safe and affordable housing","authors":"Mai Wardeh ,&nbsp;Rui Cunha Marques","doi":"10.1016/j.cities.2025.106396","DOIUrl":"10.1016/j.cities.2025.106396","url":null,"abstract":"<div><div>This study examines shelter conditions and their sustainability in refugee camps in the Arab bordering countries, a decade after their establishment within the context of the United Nations' Sustainable Development Goal 11. A cross-case study approach was used to explore three strategically chosen countries: Iraq, Jordan, and Lebanon. A mixed-methods approach was applied, and data collection included a questionnaire, semi-structured interviews, and a field visit to Lebanon. Data collection involved 101 participants. Data analysis was performed using IBM SPSS Statistics 25, employing Crosstabs analysis, Shapiro-Wilk tests for normality, and Spearman correlation for nonparametric data. Sustainability index is presented based on four dimensions: environmental, economic, technical-physical, and socio-cultural. The study reveals disparities in shelter types, protection factors, and overall sustainability. Iraq demonstrated higher scores in protection factors and overall satisfaction and shelter sustainability due to more durable construction and culturally appropriate design with refugee participation and supportive policy, unlike Lebanon, where refugees faced challenges related to the rent burden and restrictive policy. Recommendations emphasize the need for context-appropriate shelter diversification, enhanced participatory design process, and integrated policy reforms to improve sustainability outcomes. These measures contribute to achieving SDG 11 and fostering sustainable development in refugee settings.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"168 ","pages":"Article 106396"},"PeriodicalIF":6.6,"publicationDate":"2025-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144913814","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":"Modeling stakeholder interactions for post-disaster electric power restoration: A multi-agent and game-theoretic approach","authors":"Rui Shao ,&nbsp;Chao Fan","doi":"10.1016/j.erss.2025.104307","DOIUrl":"10.1016/j.erss.2025.104307","url":null,"abstract":"<div><div>Efficient post-disaster electric power restoration, under resource constraints, is essential for economic continuity and recovery. While existing studies emphasize the technical feasibility of power restoration, they frequently overlook how households' responses and utility companies' strategic priorities either reinforce or obstruct utility-led restoration efforts. To this end, this study presents a multi-agent simulation approach that integrates hazard modeling, grid fragility, household-level tolerance regarding outages, and a stochastic game-theoretic decision process to model stakeholder interactions and the effects on the efficiency of utility-led electric power restoration. The approach evaluates utilities' daily decisions in allocating labor resources for repair and recovery between economic and residential needs, alongside households' adaptation and feedback, which, in turn, affect the consumption and workforce availability. The approach is validated with field data collected from Hurricane Harvey in Harris County, Texas in 2017. The results show that household decision-making can act as a powerful feedback mechanism, shaping restoration trajectories and the ultimate outcomes of economic recovery. Specifically, a flexible “conditional” cooperation model, where households adjust their behaviors based on the utility's actions, proved most effective in the process of electric power restoration process. Paired with residential-first repair, the model yields a 65.6 % power restoration and 25.9 % economic recovery within 30 days. In contrast, a business-focused strategy, which prioritize electric restoration in industrial sectors, is often combined with low household cooperation and yields significantly worse outcomes, with only 31.8 % power restoration and 7.2 % economic recovery. Our results consistently show that prioritizing residential areas is optimal for both power restoration and long-term economic recovery. This socio-technical framework offers policymakers, utility managers, and community stakeholders a robust and replicable tool to anticipate the cascading consequences of their decisions, enhancing the energy system resilience and effectiveness in disaster recovery strategies.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"127 ","pages":"Article 104307"},"PeriodicalIF":7.4,"publicationDate":"2025-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144907271","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":"A dictator’s retort to economic sanctions: Evidence from North Korea","authors":"Youngseok Park","doi":"10.1016/j.ejpoleco.2025.102732","DOIUrl":"10.1016/j.ejpoleco.2025.102732","url":null,"abstract":"<div><div>This paper examines how economic sanctions affect internal resource allocation in North Korea. Drawing on insights from the political economy of authoritarian regimes, I propose that as sanctions intensify, the regime reallocates resources to maintain elite loyalty at the expense of weapons development. Using satellite-based nighttime lights data as a proxy for regional economic activity, I find that sanctions increase light intensity in elite-dominated areas like Pyongyang, while brightness declines around nuclear facilities. These findings suggest that sanctions may unintentionally reinforce regime stability by redirecting resources toward the ruling elite.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"89 ","pages":"Article 102732"},"PeriodicalIF":2.4,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144912191","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":"International climate and biodiversity funding: does allocation follow need in Global South countries?","authors":"Charissa Bosma ,&nbsp;Lars Hein ,&nbsp;Daniel C. Miller","doi":"10.1016/j.worlddev.2025.107160","DOIUrl":"10.1016/j.worlddev.2025.107160","url":null,"abstract":"<div><div>Tackling the interconnected climate and biodiversity crises requires major flows of financial resources directed to areas of greatest need. Funding is required not only to mitigate climate change but also to adapt to it while stemming biodiversity decline. Acute need, scarce financial resources, and legacies of injustice in countries of the Global South mean international funding must be a key source of support for climate adaptation and biodiversity conservation. Yet knowledge of international funding for these two objectives remains fragmented, with little systematic analysis across them over time. We address this gap by analyzing international development funding for climate adaptation and biodiversity investments over the past decade from both traditional grants and financial return-based instruments, an increasingly prominent approach. Using two-stage Cragg regression models, we first assess whether funding is prioritized to countries with the greatest need and then compare funder use of grant versus return-based instruments. Funding need is defined based on theoretically informed indicators and analyzed using publicly available datasets. We find that funders using grants are more likely to provide funding to countries more vulnerable to climate change and where biodiversity is under greater threat. By contrast, we find opposite or non-significant relationships for return-based funding, indicating that such instruments often do not flow to where they are needed most. Our joint assessment of the increasingly blurred climate and biodiversity finance landscapes advances scholarship by bringing these two domains together within the same analytical framework to provide new insights on international development finance allocation. Our results highlight the importance of harnessing synergies between climate adaptation and biodiversity to enhance co-benefits. Study results also underscore the continued value of grant funding, especially for countries with the greatest funding need where return-based investments are less likely, and the need to explore ways return-based instruments might succeed in high-need countries.</div></div>","PeriodicalId":48463,"journal":{"name":"World Development","volume":"196 ","pages":"Article 107160"},"PeriodicalIF":4.8,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144908003","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":"Corporate reputation, information disclosure and cost of capital","authors":"Zhijie Yang ,&nbsp;Zezhong Yang","doi":"10.1016/j.irfa.2025.104592","DOIUrl":"10.1016/j.irfa.2025.104592","url":null,"abstract":"<div><div>Using data from Chinese listed companies on the Shanghai and Shenzhen Stock Exchanges from 2011 to 2023, this study comprehensively investigates how corporate reputation influences cost of capital, along with its underlying mechanisms and economic ramifications. Drawing upon information asymmetry and signaling theories, this study constructs a systematic reputation evaluation index framework. It quantifies the cost of capital using the weighted average cost of capital, and a dual-channel analysis reveals the economic value of reputation by focusing on information disclosure quality and financing constraints. Results show that corporate reputation substantially diminishes the cost of capital, specifically by enhancing information disclosure quality and easing financing constraints. This impact is more pronounced in large-scale enterprises, whereas it exhibits no significant effect on small-scale counterparts. This discrepancy highlights the moderating influence of resource endowment and public attention on the relation between reputation and the cost of capital.</div></div>","PeriodicalId":48226,"journal":{"name":"International Review of Financial Analysis","volume":"107 ","pages":"Article 104592"},"PeriodicalIF":9.8,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144916495","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}