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Financial inclusion and bank stability: Evidence from the Indian banking system
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-04-01 DOI: 10.1016/j.econlet.2025.112303
Nikhil Srivastava , Praveen Kumar Mohanty , Nidhi Kesari
{"title":"Financial inclusion and bank stability: Evidence from the Indian banking system","authors":"Nikhil Srivastava ,&nbsp;Praveen Kumar Mohanty ,&nbsp;Nidhi Kesari","doi":"10.1016/j.econlet.2025.112303","DOIUrl":"10.1016/j.econlet.2025.112303","url":null,"abstract":"<div><div>This paper focuses on the effects of financial inclusion on bank stability in the Indian context, using the new Indian government financial inclusion policy, <em>Pradhan Mantri Jan Dhan Yojana (PMJDY),</em> as a quasi-experiment. We document a direct relationship between inclusion and bank stability. These results remain robust to using alternative measures of financial inclusion (rural, urban, and combined beneficiaries), and across different dimensions of bank stability, such as <em>Z-score, CASA</em>, and provision for non-performing assets. Our findings suggest that financial inclusion has an especially positive effect on bank stability when focused on rural areas.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"250 ","pages":"Article 112303"},"PeriodicalIF":2.1,"publicationDate":"2025-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143737830","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}
引用次数: 0
The digital skill premium: Evidence from job vacancy data
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-04-01 DOI: 10.1016/j.econlet.2025.112294
Aida Garcia-Lazaro , Jorge Mendez-Astudillo , Susan Lattanzio , Charles Larkin , Linda Newnes
{"title":"The digital skill premium: Evidence from job vacancy data","authors":"Aida Garcia-Lazaro ,&nbsp;Jorge Mendez-Astudillo ,&nbsp;Susan Lattanzio ,&nbsp;Charles Larkin ,&nbsp;Linda Newnes","doi":"10.1016/j.econlet.2025.112294","DOIUrl":"10.1016/j.econlet.2025.112294","url":null,"abstract":"<div><div>This paper examines the relationship between digital skills demand and posted wages in the UK using novel vacancy data. Digital skills — classified into basic, intermediate, and advanced using an XGBoost model — are linked to significant wage premiums. Within occupations, they are associated with 5.8% higher wages, with advanced and intermediate skills increasing wages by up to 8.9% when listed in job postings. Each additional digital skill increases wages by 1%, rising to 1.6% for advanced and intermediate skills. Artificial intelligence (AI) and cybersecurity skills yield particularly high returns, increasing wages by 8.6%–9.7% when listed and by 4.8%–5.4% per additional skill.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"250 ","pages":"Article 112294"},"PeriodicalIF":2.1,"publicationDate":"2025-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143737832","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Estimating volatility-of-volatility: A comparative analysis
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-04-01 DOI: 10.1016/j.econlet.2025.112298
Jianglei Yuan , Dehong Liu , Carl R. Chen , Mingye Ma
{"title":"Estimating volatility-of-volatility: A comparative analysis","authors":"Jianglei Yuan ,&nbsp;Dehong Liu ,&nbsp;Carl R. Chen ,&nbsp;Mingye Ma","doi":"10.1016/j.econlet.2025.112298","DOIUrl":"10.1016/j.econlet.2025.112298","url":null,"abstract":"<div><div>This paper compares four volatility-of-volatility estimates with the CBOE’s VVIX index for prediction accuracy. Hybrid estimates, combining historical and model-based components, show closer alignment with VVIX. Practical limitations are briefly noted.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"250 ","pages":"Article 112298"},"PeriodicalIF":2.1,"publicationDate":"2025-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143738154","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Overlap-weighted difference-in-differences: A simple way to overcome poor propensity score overlap
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-04-01 DOI: 10.1016/j.econlet.2025.112301
Bora Kim , Myoung-jae Lee
{"title":"Overlap-weighted difference-in-differences: A simple way to overcome poor propensity score overlap","authors":"Bora Kim ,&nbsp;Myoung-jae Lee","doi":"10.1016/j.econlet.2025.112301","DOIUrl":"10.1016/j.econlet.2025.112301","url":null,"abstract":"<div><div>Limited propensity score overlap in difference-in-differences (DID) can severely undermine reliable estimation of the average treatment effect on the treated (ATT), especially when extreme propensity scores dominate. Building on “overlap weighting”, we introduce a new DID estimand that assigns higher weights to units with their propensity scores close to 0.5, while down-weighting units with extreme propensity scores. Under a conditional parallel trends assumption, the estimand becomes an overlap-weighted ATT. The corresponding DID estimator is obtained by a simple regression of the residualized outcome change on the residualized treatment group indicator. Simulations demonstrate that the estimator remains stable in settings with limited propensity score overlap, outperforming standard approaches in both bias and variance.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"250 ","pages":"Article 112301"},"PeriodicalIF":2.1,"publicationDate":"2025-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143737831","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}
引用次数: 0
Output costs of education and skill mismatch in OECD countries
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-04-01 DOI: 10.1016/j.econlet.2025.112278
Pietro Garibaldi , Pedro Gomes , Thepthida Sopraseuth
{"title":"Output costs of education and skill mismatch in OECD countries","authors":"Pietro Garibaldi ,&nbsp;Pedro Gomes ,&nbsp;Thepthida Sopraseuth","doi":"10.1016/j.econlet.2025.112278","DOIUrl":"10.1016/j.econlet.2025.112278","url":null,"abstract":"<div><div>We quantify the output costs of education and skills mismatch for 17 OECD economies, using a calibrated model of vertical mismatch. Eliminating the frictions generating mismatch would raise output by 3% to 4% on average, varying between 0.5% to 9% across countries. Although the education and skill mismatch measures are constructed using different methods and differ in size, the output costs are similar between the two measures.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"250 ","pages":"Article 112278"},"PeriodicalIF":2.1,"publicationDate":"2025-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143737833","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Are green, climate-change and corporate bonds substitutes or complements? Evidence from a fourier specification 绿色债券、气候变化债券和公司债券是替代品还是互补品？来自傅立叶规范的证据
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-03-31 DOI: 10.1016/j.econlet.2025.112316
Jane M. Binner , Adrian R. Fleissig , James L. Swofford
{"title":"Are green, climate-change and corporate bonds substitutes or complements? Evidence from a fourier specification","authors":"Jane M. Binner ,&nbsp;Adrian R. Fleissig ,&nbsp;James L. Swofford","doi":"10.1016/j.econlet.2025.112316","DOIUrl":"10.1016/j.econlet.2025.112316","url":null,"abstract":"<div><div>We estimated elasticities for climate-change, green and corporate bonds. Consistent with demand theory, own-price elasticities are negative. These assets are generally substitutes, but exhibit some complementarity between climate-change and green bonds early in the sample. Thus, companies issuing bonds may want to issue both types of bonds allowing potential bond holders to diversify their portfolios. Climate-change and corporate bond budget elasticities generally exceed unity, while green bond budget elasticities are generally inelastic. These budget elasticities indicate that corporations should expect these markets to grow with economy.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"251 ","pages":"Article 112316"},"PeriodicalIF":2.1,"publicationDate":"2025-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143786175","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}
引用次数: 0
Financial teaching and financial understanding amongst young people
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-03-30 DOI: 10.1016/j.econlet.2025.112309
Georgios A. Panos , Robert E. Wright
{"title":"Financial teaching and financial understanding amongst young people","authors":"Georgios A. Panos ,&nbsp;Robert E. Wright","doi":"10.1016/j.econlet.2025.112309","DOIUrl":"10.1016/j.econlet.2025.112309","url":null,"abstract":"<div><div>This paper examines the gender gap in financial understanding amongst 11–18 year-olds in Scotland. A regression analysis is carried out based on individual-level data collected in the 2014 <em>Young People in Scotland Survey (N</em> <em>=</em> <em>2016)</em>. This survey was supplemented with questions measuring financial understanding, along with questions relating to the teaching of economics, finance and business studies as school subjects. The analysis suggests that there is a large gender gap favouring males of nearly 30 %. In addition, the teaching of economics, finance and business studies has a large positive effect on financial understanding. This effect is about four times larger for males compared to females. An Oaxaca-Blinder decomposition suggests that most of the gender gap is explained by this difference. More generally, the analysis suggests that the beginnings of the adult gender gap in financial understanding is when individuals are in school.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"251 ","pages":"Article 112309"},"PeriodicalIF":2.1,"publicationDate":"2025-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143791336","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The three-player lowest unique number game
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-03-28 DOI: 10.1016/j.econlet.2025.112299
Balázs Sentes
{"title":"The three-player lowest unique number game","authors":"Balázs Sentes","doi":"10.1016/j.econlet.2025.112299","DOIUrl":"10.1016/j.econlet.2025.112299","url":null,"abstract":"<div><div>This paper characterizes the unique symmetric mixed-strategy Nash equilibrium in the three-player version Lowest Unique Number Game. In this game, each player chooses a positive integer simultaneously and the player with the lowest unique number wins. The equilibrium mixing is shown to have full support and it is characterized by a constant hazard rate which is around <span><math><mrow><mo>.</mo><mn>46</mn></mrow></math></span>.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"251 ","pages":"Article 112299"},"PeriodicalIF":2.1,"publicationDate":"2025-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143838997","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}
引用次数: 0
Deepening digital intellectual property rules and digital international patenting
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-03-26 DOI: 10.1016/j.econlet.2025.112312
Yanan Wang, Shanshan Cui
{"title":"Deepening digital intellectual property rules and digital international patenting","authors":"Yanan Wang,&nbsp;Shanshan Cui","doi":"10.1016/j.econlet.2025.112312","DOIUrl":"10.1016/j.econlet.2025.112312","url":null,"abstract":"<div><div>We investigate the interactions between intellectual property provisions within Regional Trade Agreements (RTAs) and digital international patent applications. Using the Incopat database, our analysis covers patent applications from 10 applicant countries to 154 destination countries from 2003 to 2019. The findings suggest a robust positive correlation between the presence of digital intellectual property provisions in RTAs and digital transnational patent applications. This relationship exhibits heterogeneity across different patent application destination countries. Furthermore, bilateral digital trade volume may play a mediating role, and bilateral political relations could weaken the interactions.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"251 ","pages":"Article 112312"},"PeriodicalIF":2.1,"publicationDate":"2025-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143768636","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}
引用次数: 0
Diverging opinions on standardized testing: A survey-based approach
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-03-26 DOI: 10.1016/j.econlet.2025.112292
Vikram K. Suresh , Saannidhya Rawat
{"title":"Diverging opinions on standardized testing: A survey-based approach","authors":"Vikram K. Suresh ,&nbsp;Saannidhya Rawat","doi":"10.1016/j.econlet.2025.112292","DOIUrl":"10.1016/j.econlet.2025.112292","url":null,"abstract":"<div><div>We collect micro-level sentiment data on standardized testing for college admissions from undergraduate students and faculty at an R1 institution in the United States. Our findings reveal a notable disparity: students place 23% less weight on standardized tests in the admissions process compared to faculty. Furthermore, in contrast to students’ perceptions, faculty opinions align with Chetty et al. (2023) as they view the standardized tests as a reliable predictor of both academic performance and post-college success.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"250 ","pages":"Article 112292"},"PeriodicalIF":2.1,"publicationDate":"2025-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143715164","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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