Economic ModellingPub Date : 2025-10-10DOI: 10.1016/j.econmod.2025.107338
Lasse Trienens, Helmut Herwartz
{"title":"Neo-Fisherism and fiscal solvency: Reinterpreting the determination of inflation, yields, and the debt ratio","authors":"Lasse Trienens, Helmut Herwartz","doi":"10.1016/j.econmod.2025.107338","DOIUrl":"10.1016/j.econmod.2025.107338","url":null,"abstract":"<div><div>This study explores the short-run implications of the Fisher effect to help policymakers exit low-inflation environments. Based on Fisher’s theorem, neo-Fisherism predicts that nominal yields and inflation move together over time, creating a common permanent component in nominal yields and inflation, whereby changes in this component cause both variables to co-move already in the short-run (the neo-Fisher effect). Using US data from 1954 to 2018, descriptive statistics, and local projection models, we obtain two main findings. First, the permanent component is closely related to the debt-to-output ratio. Second, changes in this component are serially uncorrelated, cause neo-Fisherian adjustments, and impact the debt-to-output ratio only under active fiscal and monetary policies. Overall, because the long-term nominal interest rate is excluded from the Fisher equation of the fiscal theory of the price level, these results motivate the inclusion of the permanent component into fiscal theory and help policymakers stabilize large (dis-)inflationary pressures.</div></div>","PeriodicalId":48419,"journal":{"name":"Economic Modelling","volume":"153 ","pages":"Article 107338"},"PeriodicalIF":4.7,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145269261","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":"Status incentive and peer spillover effects on physical activity habits","authors":"Pauline Pearcy","doi":"10.1016/j.jebo.2025.107270","DOIUrl":"10.1016/j.jebo.2025.107270","url":null,"abstract":"<div><div>We examine the impact of status-based threshold incentives on physical activity habits using a longitudinal data set from a private health and life insurance provider in the United Kingdom. We find that status-based incentives effectively foster sustained behavioral change, persisting even after the incentive is removed. We find variations in responses based on status goal levels and peer influence within member group sets. These findings suggest that status-driven incentives are particularly effective among individuals with weaker pre-existing habits, reinforcing the importance of social comparisons and goal gradient effects in shaping behavior. Our results contribute to the broader literature on threshold incentives, habit formation, and peer spillover effects in physical activity.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"239 ","pages":"Article 107270"},"PeriodicalIF":2.3,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145269465","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}
CitiesPub Date : 2025-10-10DOI: 10.1016/j.cities.2025.106543
Yuxin Zhao, Shangguang Yang, Xiaojun Zhang
{"title":"What does poor air quality lead to? - The influence of air pollution on elderly medical expenditures in China","authors":"Yuxin Zhao, Shangguang Yang, Xiaojun Zhang","doi":"10.1016/j.cities.2025.106543","DOIUrl":"10.1016/j.cities.2025.106543","url":null,"abstract":"<div><div>As China's population ages rapidly, it becomes increasingly important to understand the challenges faced by the elderly. This study examines the impact of air pollution measured by PM₂.₅ exposure on medical expenditures for individuals aged 65 and above. By analyzing five waves of micro-level panel data from 2005 to 2018 using econometric methods including two-way fixed effects, Honoré's estimator, and the Heckman two-stage model, we find that higher PM₂.₅ exposure is significantly associated with increased medical expenditures among the elderly. Mechanism analysis using survival models shows that long-term pollution exposure reduces life expectancy, accelerating health capital depreciation in later life. Additionally, elevated PM₂.₅ concentrations increase the risk of respiratory and other diseases, further raising medical expenditures. The effects are particularly pronounced for women, high-income individuals, residents of developed regions, and those paying out-of-pocket, highlighting how environmental hazards exacerbate health inequalities. Overall, these findings provide compelling evidence that air pollution imposes a persistent, unequal, and age-sensitive health burden in China, underscoring the urgent need for coordinated policies that address both environmental protection and public health concerns.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"169 ","pages":"Article 106543"},"PeriodicalIF":6.6,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145269833","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}
CitiesPub Date : 2025-10-10DOI: 10.1016/j.cities.2025.106560
Hao Zhang , Wei Deng , Shaoyao Zhang , Zhanyun Wang
{"title":"Multiscale geospatial transitions and sustainable strategies for mountainous urban agglomerations: From the perspective of social–ecological systems","authors":"Hao Zhang , Wei Deng , Shaoyao Zhang , Zhanyun Wang","doi":"10.1016/j.cities.2025.106560","DOIUrl":"10.1016/j.cities.2025.106560","url":null,"abstract":"<div><div>The sustainability of mountains, among Earth's most dynamic and fragile ecosystems, is pivotal for global SDGs. A core challenge, however, is the profound overlap between human actions and natural systems, which dissolves the conventional boundaries between natural and urban systems. We synthesize research on classic ecotones and propose a novel coupling index of social–ecological systems as a unified metric for identifying multiple transition types. Applied to a Chinese mountainous urban agglomeration, our framework successfully delineates urban-rural, agropastoral, and terrain transition zones. This study identifies a complex coupling ecosystem (CCE) at the grid scale, a critical transition area where socio-economic and natural systems intensely interact, covering 17.28 % of the study area. It is the transition zone from the basin-periphery mountainous area (The average elevation of the western mountainous region exceeds 3000 m, with the highest peak reaching 7500 m) to the plain area. It concentrates the drastic transitions of multiple elements, including topography, climate, economy, and land use. The CCE-type areas exhibit a profound spatial conjunction between ecological sensitivity and socio-economic vulnerability, evidenced by nine out of the 10 counties/districts with the most CCE-type areas in Sichuan Basin being previously considered poverty-stricken counties in China at the national level. With a relatively large population and scarce high-quality land resources, this area is the core region facing the trade-off dilemma between economic development and ecological conservation. These findings contribute to our understanding of the mutual feedback within mountainous urban agglomeration systems, thus supporting sustainable land management and government policies.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"169 ","pages":"Article 106560"},"PeriodicalIF":6.6,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145270223","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":"Colonial afterlives in the global cocoa supply chain: sharecropping, labour exploitation, and gendered (re)production","authors":"Ellie Gore","doi":"10.1080/09692290.2025.2567360","DOIUrl":"https://doi.org/10.1080/09692290.2025.2567360","url":null,"abstract":"","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":"72 1","pages":""},"PeriodicalIF":4.3,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145260744","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":"Economic aggregation of return signals in global markets","authors":"Mengmeng Dong","doi":"10.1016/j.jempfin.2025.101663","DOIUrl":"10.1016/j.jempfin.2025.101663","url":null,"abstract":"<div><div>I provide novel evidence supporting the robust predictability of the “signal zoo” by clustering and aggregating 84 signals based on economic similarity. Economic clusters not only exhibit high (low) within-cluster (between-cluster) signal correlations — comparable to <span><math><mi>k</mi></math></span>-means clusters — but also produce composites that non-redundantly explain the cross-section of U.S. stock returns. All composites exhibit robust predictability in the U.S. and certain evidence in the global regions. Subsample and long-run return tests suggest that predictability primarily arises from risk, except for momentum, which is driven by mispricing. Composites generally outperform an average-signal strategy due to their superior ability to identify less noisy stocks.</div></div>","PeriodicalId":15704,"journal":{"name":"Journal of Empirical Finance","volume":"84 ","pages":"Article 101663"},"PeriodicalIF":2.4,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145267521","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}
CitiesPub Date : 2025-10-10DOI: 10.1016/j.cities.2025.106568
Santiago Cardona-Urrea , Jaime Soza-Parra , Dick Ettema
{"title":"Activity participation among disadvantaged communities and the impact of an aerial cable car: The case of TransMiCable, Bogotá","authors":"Santiago Cardona-Urrea , Jaime Soza-Parra , Dick Ettema","doi":"10.1016/j.cities.2025.106568","DOIUrl":"10.1016/j.cities.2025.106568","url":null,"abstract":"<div><div>In Latin America and the Caribbean, topographical difficulties and urban spatial inequity patterns exacerbate transport complexities and challenges among disadvantaged communities. Aerial cable cars (ACC) have emerged as an innovative transit solution to address these disparities. This study measures the effects of an ACC system on activity participation in a disadvantaged community in the Global South. Using cross-sectional data before and after, we compare the impact of TransMiCable ACC in Ciudad Bolívar with that in San Cristóbal, two neighbourhoods with similar sociodemographic and travel behaviour characteristics in Bogotá, Colombia. Activity participation levels of total, mandatory, flexible, and care activities were measured using an ordered logit model controlled by temporal, neighbourhood, individual, and household characteristics. The results indicate that ACC increased activity participation, which was influenced by the rise in flexible and care activities. Interestingly, females are less likely to participate in care activities in 2019, a trend found to be independent of the ACC's influence. Additionally, the built environment exhibited different scale effects considering the type of activity. For instance, mandatory activities, typically conducted outside the neighbourhood, are more influenced by destination accessibility, whereas flexible and care activities, mainly conducted inside, are more influenced by distance to bus stops, population density, and land use mix. These findings suggest that decision-makers should consider the differential effects of sociodemographic and built environment variables on activity participation to maximise the social benefits of new transit infrastructures.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"169 ","pages":"Article 106568"},"PeriodicalIF":6.6,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145269822","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}
CitiesPub Date : 2025-10-10DOI: 10.1016/j.cities.2025.106532
Mahmuda Sharmin , Sally A. Power , My Nguyen , Paul D. Rymer , Mark G. Tjoelker , Manuel Esperon-Rodriguez
{"title":"Climate and socio-economic drivers of urban tree abundance, richness and composition in Australian cities","authors":"Mahmuda Sharmin , Sally A. Power , My Nguyen , Paul D. Rymer , Mark G. Tjoelker , Manuel Esperon-Rodriguez","doi":"10.1016/j.cities.2025.106532","DOIUrl":"10.1016/j.cities.2025.106532","url":null,"abstract":"<div><div>Urban trees provide multiple ecosystem services to city dwellers across the globe. However, their distribution differs greatly across and within cities, often reflecting contrasting environmental, socioeconomic, cultural and political characteristics, acting as an indicator of environmental inequality. We analyzed how the abundance, diversity and species composition of street trees in 51 Australian urban areas were related to socio-economic indices, such as income, education, age and immigration status. The effect of climatic conditions, including mean temperature of the warmest quarter (°C; Tmean), and aridity on urban tree distributions was also evaluated. Our results revealed that tree abundance was positively correlated with population density and negatively correlated with the proportion of residents born overseas; tree species richness was also negatively related with Aridity. Tree abundance varied across climatic gradients, with lower abundance observed in areas with high Tmean. Species composition was strongly related to both socio-economic and climatic variables. Our findings highlight important relationships between the abundance, richness and species composition of urban trees and socio-economic and climatic characteristics of urban areas across Australia. This study provides data-driven insights that can inform more equitable and climate-sensitive urban forestry planning and management.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"169 ","pages":"Article 106532"},"PeriodicalIF":6.6,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145269829","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}
CitiesPub Date : 2025-10-10DOI: 10.1016/j.cities.2025.106535
Inés Aquilué Junyent
{"title":"The loss of urban form as a communicative system: A morphogenetic critique of the recent reconstruction of Beirut","authors":"Inés Aquilué Junyent","doi":"10.1016/j.cities.2025.106535","DOIUrl":"10.1016/j.cities.2025.106535","url":null,"abstract":"<div><div>The continuing devastation and destruction of cities in the Middle East, accompanied by hasty debates about future reconstruction, is not a new phenomenon. The city of Beirut, severely affected by the Lebanese civil war (1975–1989), has witnessed the transformation of its city centre since the end of the conflict. The reconstruction plan led by the real estate company Solidere has resulted in a significant change in the form, function and identity of the city centre. The article uses the concept of urban morphogenesis to analyse how, over the course of more than three decades since the plan was approved, the urban system has been simplified through the eradication of plot subdivision, topological isolation, hyper-regulation and the use of heritage to select specific historical memories. This analysis demonstrates the tendency towards urban simplification through a sequence of destruction, securitisation and reconstruction, and argues that alternative processes of reconstruction are possible.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"169 ","pages":"Article 106535"},"PeriodicalIF":6.6,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145269828","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}
World DevelopmentPub Date : 2025-10-10DOI: 10.1016/j.worlddev.2025.107182
Kajal Gulati , Nicholas Magnan , Travis J. Lybbert , David J. Spielman
{"title":"Gendered networks and demand for an agricultural technology in India","authors":"Kajal Gulati , Nicholas Magnan , Travis J. Lybbert , David J. Spielman","doi":"10.1016/j.worlddev.2025.107182","DOIUrl":"10.1016/j.worlddev.2025.107182","url":null,"abstract":"<div><div>Studies on social learning and technology adoption often only consider the networks of a single individual in a household as a source of information influencing agricultural production decisions. We test the validity of this assumption by examining the role of men’s and women’s social networks in the adoption of a novel water-saving technology, laser land leveling (LLL), in India. Using network data from men and women in the same household, we test the influence of being connected to an adopter on demand for LLL. We identify the causal gender-specific network effects using a field experiment that combines an auction with a lottery for the technology, making the presence of adopters in networks exogenous. The data reveal that men’s and women’s networks vary in size and show little overlap. We find that whereas household demand for LLL increases when men are linked to an LLL-adopting household, it decreases when the network linkages run through women. These gender-differentiated effects are concentrated in households where the woman’s opinion about the technology is valued by the man and in non-poor households. The results highlight that social learning may interact with the socio-demographic characteristics of households in myriad ways to influence household technology adoption decisions, and that agricultural-based information interventions ought to also consider how information gets used in the household.</div></div>","PeriodicalId":48463,"journal":{"name":"World Development","volume":"197 ","pages":"Article 107182"},"PeriodicalIF":4.8,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145270772","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}