Empirical Economics最新文献

The great lockdown, uncertainty and trade: asymmetric impact on imports. 大封锁、不确定性和贸易：对进口的不对称影响。

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-06-11 DOI: 10.1007/s00181-023-02446-2

Chandan Sharma, Ritesh Kumar Mishra

{"title":"The great lockdown, uncertainty and trade: asymmetric impact on imports.","authors":"Chandan Sharma, Ritesh Kumar Mishra","doi":"10.1007/s00181-023-02446-2","DOIUrl":"10.1007/s00181-023-02446-2","url":null,"abstract":"The world economy has recently navigated through the pandemic caused by the coronavirus. Almost all the affected countries have responded with stringency measures to control the pandemic. However, these restrictions appear to have critically impacted the global supply chain and cross-border movement of goods. In this regard, we attempt to investigate the impact of pandemic-related stringency measures on India's import demand. For this purpose, we use bilateral monthly import data of India with its major trading counterparts. Our findings suggest that stringency measures have a positive impact on imports, indicating that the economy relies more on imported items when its domestic production and supply chain are disrupted by the pandemic-related restrictions. Conversely, the import origin countries' restrictions have a negative impact on Indian imports, indicating that these restrictions have adversely affected the production and supply chain in origin countries, thereby reducing the overall flow of imports to India. We also find that economic policy uncertainty of home and product origin countries has a negative impact on Indian imports. Our results also confirm that the pandemic-related restrictions and different types of uncertainty have an asymmetric effect on imports.","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":" ","pages":"1-32"},"PeriodicalIF":3.2,"publicationDate":"2023-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10257774/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10093482","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

Green or grey stocks? Dynamic effects of carbon markets based on Chinese practices. 绿色股票还是灰色股票？基于中国实践的碳市场动态效应。

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-06-09 DOI: 10.1007/s00181-023-02439-1

Yingying Xu, Xiang Li

{"title":"Green or grey stocks? Dynamic effects of carbon markets based on Chinese practices.","authors":"Yingying Xu, Xiang Li","doi":"10.1007/s00181-023-02439-1","DOIUrl":"10.1007/s00181-023-02439-1","url":null,"abstract":"Carbon trading and new energy markets are two key mechanisms for carbon reduction. However, theoretical analysis cannot reveal the complex links between carbon, green, and grey markets. Therefore, this study resorts to the frequency spillover index to explore the overall and directional connectedness of carbon-energy systems in China. The spillover effect indicates the cross-market propagation of information shocks and the potential ripple effects of specific shocks on system-wide changes. Dynamic spillovers suggest that the role of a certain market is not unchanged. In the time domain, both the overall and directional spillovers are closely related with the trading of carbon allowances and tend to show jumps at the beginning and end of the cycle. In the frequency domain, the short-term effects are much stronger than the medium- and long-term effects on all dimensions of the spillover effect. Comparatively, the grey energy is the main information transmitter at the high frequency, whereas it is the green energy playing such a role at medium and low frequencies. Comparing the overall spillovers on carbon markets, the effect of grey energy exceeds that of green energy. Even so, the carbon market plays an important role in the carbon-energy system with extremely significant effects on green and grey energy stocks at certain periods. The results provide profound implications for the management of carbon markets and portfolio optimization.","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":" ","pages":"1-27"},"PeriodicalIF":3.2,"publicationDate":"2023-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10255947/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"9715985","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

Assessing complementarities between live performances and YouTube video streaming. 评估现场表演和YouTube视频流之间的互补性。

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-06-01 DOI: 10.1007/s00181-023-02444-4

Juan D Montoro-Pons, María Caballer-Tarazona, Manuel Cuadrado-García

{"title":"Assessing complementarities between live performances and YouTube video streaming.","authors":"Juan D Montoro-Pons, María Caballer-Tarazona, Manuel Cuadrado-García","doi":"10.1007/s00181-023-02444-4","DOIUrl":"10.1007/s00181-023-02444-4","url":null,"abstract":"Digitization and increased accessibility to recorded music have made revenue-generating activities increasingly tied to live performances. In this context, identifying the full impact of concerts (namely capturing the value of activities that emerge as a consequence of them) is of primary interest to assess the sustainability of the different music ecosystems. This paper analyzes spillover effects from playing live to YouTube video streaming. A sample of 190 artists performing in two international music festivals in years 2016 to 2019 has been selected, and the temporal patterns of online video searches for each one have been collected. Using a regression discontinuity design, results show a discrete jump of the YouTube search index for the average performer in the sample after playing live. Furthermore, there is evidence of a gender-specific effect: female performers experience a greater increase in YouTube searches. Though exploratory, this gender bias is consistent with potential theoretical explanations to be explored. Overall, findings provide causal evidence of the effect of live performances on a related but different market (i.e., recorded music), which underlines how technological disruptions may enable alternative revenue sources for musicians.","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":" ","pages":"1-26"},"PeriodicalIF":3.2,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10232348/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"9692298","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

COVID-19, lockdowns and international trade: evidence from firm-level data. 新冠肺炎、封锁和国际贸易：来自公司层面数据的证据。

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-05-30 DOI: 10.1007/s00181-023-02421-x

João Amador, Carlos Melo Gouveia, Ana Catarina Pimenta

{"title":"COVID-19, lockdowns and international trade: evidence from firm-level data.","authors":"João Amador, Carlos Melo Gouveia, Ana Catarina Pimenta","doi":"10.1007/s00181-023-02421-x","DOIUrl":"10.1007/s00181-023-02421-x","url":null,"abstract":"The COVID-19 pandemics and the lockdowns imposed to mitigate the rise of infections beyond manageable levels strongly affected international trade. Although the health crisis and the mobility restrictions associated with lockdowns are closely related, their impacts on international trade have a different nature. This paper uses monthly firm-level trade data for Portuguese firms to measure the impact of partner countries' lockdowns on nominal export and import flows during 2020 and the first half of 2021, while also assessing the impact of the health crisis. The high time frequency and granularity of the data contribute to the identification of the impact of these obstacles on trade. We conclude that the detrimental impact of lockdowns is sizeable and broadly similar in exports and imports, and the impact of the health conditions is slightly stronger in exports. There is evidence that the detrimental impact of lockdowns was stronger for larger firms, for those with higher geographical concentration of trade, more integrated in global value chains and in the upper quartiles of the trade unit value distribution. The negative impact is also estimated to be larger for industries with high import content and for trade partners that are more important as sources of value added to be embodied in Portuguese exports. Results also suggest that exports adapted to the prevailing circumstances as of June 2020, but such an effect is not clear in imports.","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":" ","pages":"1-40"},"PeriodicalIF":3.2,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10226884/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10093480","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: 6

The oil price-macroeconomy dependence. 石油价格对宏观经济的依赖。

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-05-29 DOI: 10.1007/s00181-023-02432-8

Apostolos Serletis, Libo Xu

引用次数: 0

Commodity currency reactions and the Dutch disease: the role of capital controls. 商品货币反应与荷兰病：资本管制的作用。

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-05-27 DOI: 10.1007/s00181-023-02423-9

Kai Chen, Dongwon Lee

引用次数: 0

Key market identification, mechanism transmission, and extreme shock during the risk spillover process: an empirical study of the G20 FOREX markets. 风险溢出过程中的关键市场识别、机制传导和极端冲击：20国集团外汇市场的实证研究。

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-05-22 DOI: 10.1007/s00181-023-02436-4

Wei Zhou, Jin Guo, Ning Chen, Shuai Lu

{"title":"Key market identification, mechanism transmission, and extreme shock during the risk spillover process: an empirical study of the G20 FOREX markets.","authors":"Wei Zhou, Jin Guo, Ning Chen, Shuai Lu","doi":"10.1007/s00181-023-02436-4","DOIUrl":"10.1007/s00181-023-02436-4","url":null,"abstract":"The role of the G20 in global governance has been increasingly prominent in the context of the extensive spread of coronavirus disease 2019 and the aggravation of financial risk contagion. Detecting the risk spillovers among the G20 FOREX markets is crucial to maintain financial stability. Therefore, this paper first adopts a multi-scale approach to measure the risk spillovers among the G20 FOREX markets from 2000 to 2022. Furthermore, the key markets, the transmission mechanism, and the dynamic evolution are researched based on the network analysis. We derive the following findings: (1) The magnitude and volatility of the total risk spillover index of the G20 countries are highly associated with extreme global events. (2) The magnitude and volatility of risk spillovers among the G20 countries are asymmetric in the different extreme global events. (3) The key markets in the risk spillover process are identified, and the USA always occupies a core position in the G20 FOREX risk spillover networks. (4) In the core clique, the risk spillover effect is obviously high. In the clique hierarchy, as the risk spillover effect is transmitted downward, the risk spillovers present the decrease trends. (5) The density, transmission, reciprocity, and clustering degrees in the G20 risk spillover network during the COVID-19 period are much higher than that in other periods.","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":" ","pages":"1-34"},"PeriodicalIF":3.2,"publicationDate":"2023-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10200702/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10093485","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

Effects of smart city construction on employment: mechanism and evidence from China. 智慧城市建设对就业的影响：来自中国的机制和证据。

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-05-09 DOI: 10.1007/s00181-023-02429-3

Rongjie Lv, Hao Gao

{"title":"Effects of smart city construction on employment: mechanism and evidence from China.","authors":"Rongjie Lv, Hao Gao","doi":"10.1007/s00181-023-02429-3","DOIUrl":"10.1007/s00181-023-02429-3","url":null,"abstract":"Based on the first batch of smart city pilots in China, this paper systematically investigates the impact of smart city construction on urban employment and employment structure, and its influence mechanism and urban heterogeneity are explored using the difference-in-differences (DID) model. The main conclusions are as follows: (1) Smart city construction significantly promotes urban employment, especially employment in the secondary and tertiary industries. (2) Digital technology development and public services are important mechanisms for smart city construction to improve urban employment. (3) There was heterogeneity among Chinese cities, with the employment promotion effect of smart city construction is primarily reflected in cities located in the eastern and central regions, medium cities, large cities, as well as cities with higher levels of financial development, human capital, and informatization. (4) Through different impacts on various sectors, smart city construction promotes the transfer of employment to the service sector and optimizes the urban employment structure. Conclusions enrich the academic community's understanding of the development and construction of smart cities and provide enlightenment and reference for the formulation and promulgation of relevant supporting policies.","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":" ","pages":"1-33"},"PeriodicalIF":3.2,"publicationDate":"2023-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10169203/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"9715981","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

Does climate change affect economic data? 气候变化会影响经济数据吗？

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-05-09 DOI: 10.1007/s00181-023-02363-4

In Choi

引用次数: 0

Measuring macroeconomic convergence and divergence within EMU using long memory. 使用长记忆测量欧洲货币联盟内部的宏观经济趋同和分化。

IF 3.2 4区经济学

Empirical Economics Pub Date : 2023-04-28 DOI: 10.1007/s00181-023-02426-6

Lena Dräger, Theoplasti Kolaiti, Philipp Sibbertsen

{"title":"Measuring macroeconomic convergence and divergence within EMU using long memory.","authors":"Lena Dräger, Theoplasti Kolaiti, Philipp Sibbertsen","doi":"10.1007/s00181-023-02426-6","DOIUrl":"10.1007/s00181-023-02426-6","url":null,"abstract":"This paper tests for convergence of EMU inflation rates and industrial production by testing for the existence of fractional cointegration relations. The notion of fractional cointegration allows for long-term equilibria with a higher degree of persistence than allowed for in the standard cointegration framework. Over the full sample from 1999:Q1-2021:Q4, we find evidence of fractional cointegration in both inflation and industrial production among many country pairs. Our results suggest some evidence for \"convergence clusters\" among either core or periphery countries in the case of inflation. Similarly, we find stronger evidence of cointegration pairs among core countries for industrial production compared to periphery or mixed core-periphery groups. Testing for a break in the persistence structure, the results show evidence of a break in the persistence of both inflation and industrial production in a number of countries. Inflation persistence is substantially higher after the break, suggesting a higher potential for diverging processes during economic crises. On the contrary, for the case of industrial production, persistence is lower during the post-crisis period.","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":" ","pages":"1-24"},"PeriodicalIF":3.2,"publicationDate":"2023-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10147371/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"9692299","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