Economics LettersPub Date : 2025-06-03DOI: 10.1016/j.econlet.2025.112403
Fernanda Peron , Paula Carvalho Pereda , Felipe Bailez
{"title":"Gender stereotypes in politics: Insights from social media data","authors":"Fernanda Peron , Paula Carvalho Pereda , Felipe Bailez","doi":"10.1016/j.econlet.2025.112403","DOIUrl":"10.1016/j.econlet.2025.112403","url":null,"abstract":"<div><div>Analyzing 400,000 WhatsApp messages on politicians, we find that gender stereotypes pose a barrier to women’s political participation in Brazil. Female politicians receive more personal commentaries, and bots spread misogynistic, aggressive narratives, amplifying gendered biases and hostility in social media.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"254 ","pages":"Article 112403"},"PeriodicalIF":2.1,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144261956","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}
Economics LettersPub Date : 2025-06-03DOI: 10.1016/j.econlet.2025.112399
Qian Wang
{"title":"Identification of quantile regression models with endogeneity","authors":"Qian Wang","doi":"10.1016/j.econlet.2025.112399","DOIUrl":"10.1016/j.econlet.2025.112399","url":null,"abstract":"<div><div>The instrumental variables approach is a standard practice to address endogeneity, while it is often challenging to obtain valid and strong instruments in many empirical studies. This paper considers a linear simultaneous triangular system of quantile regressions in the absence of instruments. We establish identification results for this model by leveraging copula of the latent error terms to characterize their dependence structure.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"254 ","pages":"Article 112399"},"PeriodicalIF":2.1,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144205227","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}
Economics LettersPub Date : 2025-06-02DOI: 10.1016/j.econlet.2025.112424
Lang Wu, Lili Ge
{"title":"Is AI the new corporate monitor? Evidence from excessive on-the-job consumption","authors":"Lang Wu, Lili Ge","doi":"10.1016/j.econlet.2025.112424","DOIUrl":"10.1016/j.econlet.2025.112424","url":null,"abstract":"<div><div>Excessive on-the-job consumption (EOJC) represents a manifestation of corporate agency problems that ultimately undermines firm value. As artificial intelligence (AI) applications permeate various aspects of corporate operations, this study examines AI’s impact on EOJC. Analyzing 2788 Chinese manufacturing firms (2007–2022), we find AI implementation significantly reduces EOJC by dissolving hierarchical information barriers to enhance governance quality and curbing managerial discretion through algorithm-driven decision protocols. Further analysis reveals that AI exerts stronger governance effects in highly competitive industries by augmenting existing market discipline mechanisms, while synergizing with information-transparent firms to amplify monitoring efficacy. These findings reveal AI’s potential for institutional transformation in corporate governance systems.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"254 ","pages":"Article 112424"},"PeriodicalIF":2.1,"publicationDate":"2025-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144223358","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}
Economics LettersPub Date : 2025-06-01DOI: 10.1016/j.econlet.2025.112411
Johannes Huber , Alexander Meyer-Gohde
{"title":"Iterative refinement of the QZ decomposition for solving linear DSGE models","authors":"Johannes Huber , Alexander Meyer-Gohde","doi":"10.1016/j.econlet.2025.112411","DOIUrl":"10.1016/j.econlet.2025.112411","url":null,"abstract":"<div><div>We develop an iterative implementation of the QZ method for solving DSGE models. It refines the standard QZ solution and, as demonstrated in a macro-finance application, improves numerical accuracy without altering already accurate solutions.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"253 ","pages":"Article 112411"},"PeriodicalIF":2.1,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144205796","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}
Economics LettersPub Date : 2025-06-01DOI: 10.1016/j.econlet.2025.112401
Charu Vadhava
{"title":"Role of ECX futures in carbon pricing: Intraday evidence from EU-ETS","authors":"Charu Vadhava","doi":"10.1016/j.econlet.2025.112401","DOIUrl":"10.1016/j.econlet.2025.112401","url":null,"abstract":"<div><div>This study investigates the price discovery and volatility spillover between ECX spot and futures prices using high-frequency data for the fourth phase of EU-ETS. The analysis reveals the higher contribution of ECX futures in price formation. Furthermore, volatility spillover analysis shows that volatility transmission occurs predominantly from ECX futures to the spot market, making the ECX futures market a shock (information) transmitter and the spot market a shock (information) receiver in net terms. The informativeness of ECX futures in carbon pricing can be attributed to higher liquidity, higher trading volume, and the presence of informed institutional traders in the ECX futures market.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"253 ","pages":"Article 112401"},"PeriodicalIF":2.1,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144190443","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}
Economics LettersPub Date : 2025-06-01DOI: 10.1016/j.econlet.2025.112415
Claudia Williamson Kramer , Daniel Sánchez-Piñol Yulee
{"title":"Trust decay? The impact of immigration on trust","authors":"Claudia Williamson Kramer , Daniel Sánchez-Piñol Yulee","doi":"10.1016/j.econlet.2025.112415","DOIUrl":"10.1016/j.econlet.2025.112415","url":null,"abstract":"<div><div>This note uses data from the Integrated Value Surveys (IVS) to explore how immigration affects both generalized trust and trust in formal institutions. The analysis finds no evidence that immigration is associated with lower levels of either type of trust. Instead, estimations suggest a positive correlation between immigration and generalized trust. These findings are robust to various controls and estimation techniques.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"253 ","pages":"Article 112415"},"PeriodicalIF":2.1,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144184912","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}
Economics LettersPub Date : 2025-06-01DOI: 10.1016/j.econlet.2025.112414
Khalil Bechchani
{"title":"When neighbors tighten belts: Exploring austerity’s spillover effects","authors":"Khalil Bechchani","doi":"10.1016/j.econlet.2025.112414","DOIUrl":"10.1016/j.econlet.2025.112414","url":null,"abstract":"<div><div>This study investigates the impact of domestic austerity measures and their spillover effects when synchronized among trading partners, focusing on their influence on domestic GDP growth and public debt-to-GDP ratios. Using a novel narrative dataset covering 17 OECD countries from 1978 to 2020 and 14 Latin American and Caribbean countries from 1989 to 2020, the findings reveal that domestic austerity measures significantly depress GDP growth and escalate public debt ratios, while spillover effects from foreign fiscal consolidations can sometimes surpass the impacts of domestic adjustments. Fiscal spillovers affect economic growth in OECD countries and public debt dynamics in the LAC region. Notably, they are particularly pronounced in more trade-open OECD members and during economic downturns in both LAC and OECD countries. Interestingly, OECD countries with lower trade openness and economies going through expansionary phases of the business cycle exhibit positive responses to austerity measures from trade partners. These findings underscore the complex interdependencies in global fiscal policy and highlight the necessity for coordinated approaches to mitigate adverse effects and leverage positive responses during varying economic conditions.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"254 ","pages":"Article 112414"},"PeriodicalIF":2.1,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144231803","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}
Economics LettersPub Date : 2025-06-01DOI: 10.1016/j.econlet.2025.112371
Kyung Hwan Baik , Daehong Min
{"title":"Reimbursement in contests with bilateral delegation","authors":"Kyung Hwan Baik , Daehong Min","doi":"10.1016/j.econlet.2025.112371","DOIUrl":"10.1016/j.econlet.2025.112371","url":null,"abstract":"<div><div>We study two-player contests in which each player first hires a delegate to expend effort on her behalf, and then the delegates choose their effort levels simultaneously. The losing player pays the winning player reimbursement for part of the effort (cost) that the winning delegate expended. We find that each player offers her delegate greater compensation (in the case of winning) in the model with reimbursement than in the model without reimbursement. The equilibrium expected payoffs for the delegates [<em>players</em>] are greater [<em>smaller</em>] in the model with reimbursement than in the model without reimbursement. As the reimbursement rate increases, each player offers her delegate greater compensation (in the case of winning), economic rent for each delegate increases, and each player is worse off.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"253 ","pages":"Article 112371"},"PeriodicalIF":2.1,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144184911","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}
Economics LettersPub Date : 2025-06-01DOI: 10.1016/j.econlet.2025.112384
Francisco Queirós
{"title":"The savings rate in a discrete-time Ramsey economy with CRRA preferences and full depreciation","authors":"Francisco Queirós","doi":"10.1016/j.econlet.2025.112384","DOIUrl":"10.1016/j.econlet.2025.112384","url":null,"abstract":"<div><div>This paper studies the discrete-time version of the Ramsey model with CRRA preferences, a Cobb–Douglas production function and full depreciation. I show that, when the intertemporal elasticity of substitution (IES) is above one, the substitution effect of an interest rate increase always dominates the income effect; when the IES is below one, the income effect dominates.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"253 ","pages":"Article 112384"},"PeriodicalIF":2.1,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144194985","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}
Economics LettersPub Date : 2025-06-01DOI: 10.1016/j.econlet.2025.112375
Idriss Fontaine, François Hermet, Nicolas Lucic
{"title":"Are nightlight data a relevant proxy for economic activity in small island developing states ?","authors":"Idriss Fontaine, François Hermet, Nicolas Lucic","doi":"10.1016/j.econlet.2025.112375","DOIUrl":"10.1016/j.econlet.2025.112375","url":null,"abstract":"<div><div>By combining nightlight data with GDP data for Small Island Developing States (SIDS), we investigate the nature of their empirical relationship. We find a strong positive correlation between the two variables. Econometric estimates suggest that the elasticity of GDP with respect to nightlights is 0.20 over the entire sample period, with evidence pointing to a decline in the magnitude of this elasticity since 2013, when the collection of nightlights has been based on VIIRS sensors. Overall, our study is the first to demonstrate that nightlight data constitutes a relevant proxy for economic activity in SIDS, a group of territories characterized by a scarcity of economic data. It also suggests that users should consider the change in nightlight data collection, as it may affect the magnitude of the statistical association, particularly in small areas.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"253 ","pages":"Article 112375"},"PeriodicalIF":2.1,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144190444","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}