Sergio Sanfilippo-Azofra, María Cantero-Saiz, Begoña Torre-Olmo, Violeta Bringas-Fernández
{"title":"The bank lending channel and the deposit channel of monetary policy: an empirical analysis of Eurozone banks","authors":"Sergio Sanfilippo-Azofra, María Cantero-Saiz, Begoña Torre-Olmo, Violeta Bringas-Fernández","doi":"10.1016/j.frl.2025.107473","DOIUrl":"10.1016/j.frl.2025.107473","url":null,"abstract":"<div><div>This study analyzes the deposit channel, emphasizing how positive and negative deposit spreads affect the impact of monetary policy changes on loan supply differently. Using a sample of 703 banks from 11 countries in the Eurozone between 2010 and 2023, we find evidence supporting the deposit channel in markets with high concentrations when deposit spreads are positive, partially validating this deposit channel. However, when deposit spreads are negative, our results do not support the deposit channel. These findings suggest that when deposit spreads are positive, the European Central Bank should consider the effects of the deposit channel in its decisions to achieve smoother transmission of monetary policy.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"81 ","pages":"Article 107473"},"PeriodicalIF":7.4,"publicationDate":"2025-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143876782","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":"Promoting social housing : Insights from redevelopment policies in Paris","authors":"Lauriane Belloy, Fabien Candau","doi":"10.1016/j.jhe.2025.102061","DOIUrl":"10.1016/j.jhe.2025.102061","url":null,"abstract":"<div><div>The issue of income segregation plagues numerous cities, and in particular Paris which is studied here. To mitigate this problem, the local government has implemented redevelopment policies that increase incentives to convert offices and other commercial units into social housing in high-demand areas. We find that these policies have a negligible effect. Only the most restrictive legislation slightly stimulated the conversion of social housing in the city center; all subsequent policies had no effect.</div></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"68 ","pages":"Article 102061"},"PeriodicalIF":1.4,"publicationDate":"2025-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143869408","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}
Arnaud Lamy , Sandrine Costa , Lucie Sirieix , Ophélie Mugel , Maxime Michaud
{"title":"Tell me what you cook and I'll tell you who you are. A study of the influence of the representations and identities of aspiring chefs on their intentions to reduce meat in favour of plant-based dishes","authors":"Arnaud Lamy , Sandrine Costa , Lucie Sirieix , Ophélie Mugel , Maxime Michaud","doi":"10.1016/j.ecolecon.2025.108642","DOIUrl":"10.1016/j.ecolecon.2025.108642","url":null,"abstract":"<div><div>Faced with increasing recommendations for a more plant-based diet, the catering sector is particularly affected. This study investigates how future chefs' representations and identities (professional or otherwise) influence their intentions to offer less meat-based and more plant-based menus, either by reducing meat in dishes or replacing meat-based dishes with vegetarian options. Theories of representations and multiple identities were chosen to study how future chefs may or may not consider to reduce the amount of meat in their menus, in relation to the literature that shows links between representations, identities, and relationship with meat. Culinary students from two French schools (<em>n</em> = 286) were investigated. Participants' representations of the effectiveness of pro-environmental measures in restaurants were analysed using <em>t</em>-tests, while the association of identities on intentions to reduce meat was examined with bivariate and multivariate regressions. The results indicate that future chefs perceive meat reduction in favour of plant-based products in the offer (dishes, menu) less favourably than other measures (e.g., favouring local sourcing, limiting waste, etc.). Furthermore, environmental, food, and cultural identities are associated to future chefs' intentions to reduce meat in favour of plant-based products. Theoretical and managerial implications are suggested, as well as perspectives for future research.</div></div>","PeriodicalId":51021,"journal":{"name":"Ecological Economics","volume":"235 ","pages":"Article 108642"},"PeriodicalIF":6.6,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143854809","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":"Political context, carbon dependence, climate vulnerability, and renewable energy consumption in the United States, 2000–2022.","authors":"Feng Hao","doi":"10.1016/j.erss.2025.104083","DOIUrl":"10.1016/j.erss.2025.104083","url":null,"abstract":"<div><div>Climate change has brought devastating impacts on the environment and social well-being. Promoting renewable energy is a promising approach to address the challenge since renewables offer a substitute for fossil fuels and emit less greenhouse gases. This study aims to investigate the landscape of America's renewable energy over the past two decades and three time-varying determinants (political context, carbon dependence, and climate vulnerability) that shape the consumption. The analysis shows that the share of renewable energy in total energy consumption has doubled since 2000 while the country's CO<sub>2</sub> emissions plunged at a time when global emissions are soaring. The fixed-effects regression is estimated using state-level panel data from 2000 to 2022. Results show that control by the Democratic Party and growing vulnerability to climate change promote states to consume renewable energy, while a carbon-intensive economy has slowed the trend. The three variables have significant interactions. For instance, the positive effect of climate vulnerability is reinforced when the Democratic Party controls the state. Meanwhile, the Democratic Party's control and vulnerability to climate change counterbalanced the inhibiting impact of carbon dependence. The findings contribute to the literature and carry policy implications regarding identifying strategies to advance clean energy and combat the climate crisis.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"125 ","pages":"Article 104083"},"PeriodicalIF":6.9,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143858863","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":"Composition of peer mothers and gender norms: Class randomization and short-run effects","authors":"Liwen Chen , Bobby W. Chung , Guanghua Wang","doi":"10.1016/j.jebo.2025.107008","DOIUrl":"10.1016/j.jebo.2025.107008","url":null,"abstract":"<div><div>Increased exposure to gender-role information affects a girl’s educational performance. Leveraging the classroom randomization in Chinese middle schools, we find that the increased presence of peers’ working mothers significantly enhances a girl’s performance in mathematics. The exposure also reduces gendered attitudes toward mathematics and future careers. Long exposure and a distant parent–daughter relationship enhance peer mothers’ influences. As falsification tests against unobserved confounding factors, we find that exposure to peers’ working mothers does not affect boys’ outcomes.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"234 ","pages":"Article 107008"},"PeriodicalIF":2.3,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143855428","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":"Anti-corruption and political trust: Evidence from China","authors":"Ming Fang , Weizheng Lai , Congling Xia","doi":"10.1016/j.jebo.2025.107015","DOIUrl":"10.1016/j.jebo.2025.107015","url":null,"abstract":"<div><div>How can anti-corruption efforts influence political trust in government? We investigate this question through the lens of China’s recent anti-corruption campaign, launched in 2013, which has disclosed many corruption investigations to the public for the first time. By analyzing a large individual panel dataset, we show that, on average, the campaign has reduced political trust, particularly among groups less informed about corruption before the campaign. We document strong heterogeneity in changes in political trust, possibly driven by prior political attitudes, as captured by previous unpleasant experiences with the government, pro-government indoctrination, and Confucian norms. Our results fit a model in which polarization is rationalized by different priors about the government. We also rule out several alternative explanations for our findings.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"234 ","pages":"Article 107015"},"PeriodicalIF":2.3,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143860576","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}
Economics LettersPub Date : 2025-04-22DOI: 10.1016/j.econlet.2025.112359
Peibin Hou, Falin Sun, Wendiam Sawadgo, Samir Huseynov, Wenying Li
{"title":"The cost of raising a child: Equivalence scales in the United States","authors":"Peibin Hou, Falin Sun, Wendiam Sawadgo, Samir Huseynov, Wenying Li","doi":"10.1016/j.econlet.2025.112359","DOIUrl":"10.1016/j.econlet.2025.112359","url":null,"abstract":"<div><div>As fertility rates drop to another historical low, understanding the economic burden of child-rearing on household income, a main economic reason for falling birth rate, has become more crucial than ever. This study calculates a subjective equivalence scale explaining how much the income of a two-adult, one-child household should increase to maintain the same level of life satisfaction as a two-adult household, using a nationally representative U.S. sample. The results suggest that the equivalence scale for a two-adult, one-child household is 1.18, indicating that raising a child costs 18 % of a two-adult household’s income. Our analysis indicates that programs like the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) and the National School Lunch Program (NSLP) may be overly generous for households with one child, while the tax deduction policy does not cover child-rearing costs sufficiently.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"252 ","pages":"Article 112359"},"PeriodicalIF":2.1,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143873488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sascha Tobias Wengerek, André Uhde, Benjamin Hippert
{"title":"Share price reactions to tariff imposition announcements during the first Trump administration","authors":"Sascha Tobias Wengerek, André Uhde, Benjamin Hippert","doi":"10.1016/j.frl.2025.107381","DOIUrl":"10.1016/j.frl.2025.107381","url":null,"abstract":"<div><div>This study analyzes the impact of tariff imposition announcements on the stock prices of 1,194 U.S. companies during the first Trump administration, using a unique sample of 4,624 announcements made by or against the U.S. between January 2018 and August 2019. We find that tariff announcements lead to negative (cumulative) average abnormal stock returns. These negative wealth effects occur regardless of whether the Trump administration imposes safeguard tariffs to protect domestic industries or foreign countries announce retaliatory tariffs. Moreover, the adverse impact is primarily driven by announcements involving China, with variations linked to sector-specific, tariff, trade, and firm characteristics.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"80 ","pages":"Article 107381"},"PeriodicalIF":7.4,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143870548","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":"Automation, education, and population: Dynamic effects in an OLG growth and fertility model","authors":"Catarina Peralta , Pedro Mazeda Gil","doi":"10.1016/j.jebo.2025.107002","DOIUrl":"10.1016/j.jebo.2025.107002","url":null,"abstract":"<div><div>We address two main structural changes occurring in developed countries: the rise of automation and population ageing. Using an R&D-based growth model under an OLG framework, we consider education and fertility decisions, as well as automation in the production process, to explore the interplay between population ageing and automation. The results reveal dynamics that align with the US trends from 1970 to 2021. In particular, in response to increasing real wages, the model captures a decline in the fertility rate for low-skilled workers but an increase for high-skilled workers, consistent with observed data. We also analyze the model’s response to shocks related to automation and demographics (fertility vs. longevity), as well as policy instruments designed to reduce inequality.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"234 ","pages":"Article 107002"},"PeriodicalIF":2.3,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143855430","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":"An Economic Perspective on Planetary Boundaries","authors":"Edward B. Barbier","doi":"10.1146/annurev-resource-013024-033016","DOIUrl":"https://doi.org/10.1146/annurev-resource-013024-033016","url":null,"abstract":"In the current era of ecological scarcity and rising global environmental risks, there are increasing calls for limits on damage to the environment. Some scientists advocate imposing planetary boundaries to protect key Earth system processes from human impacts. This article reviews the economic implications of such an approach. From an economic perspective, planetary boundaries represent both a relative and absolute scarcity problem. Imposing such absolute limits may avoid undesirable tipping points, but they are not sufficient for optimal environmental management. The failure to tackle increasing relative ecological scarcity will lead to unsustainable use and could make keeping within limits unattainable. In view of these challenges raised by the planetary boundary approach, economics has three important roles: more robust modeling of the environmental impacts to incorporate risk and uncertainty, valuing ecological capital and its services, and informing local and global policies for improved management of globally important resources and sinks.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"1 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143862911","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}