Research in Applied Economics最新文献

{"title":"Residential Electricity Consumption in Las Cruces, New Mexico, USA","authors":"T. Fullerton, Francisco F. Mejía","doi":"10.5296/RAE.V12I3.16883","DOIUrl":"https://doi.org/10.5296/RAE.V12I3.16883","url":null,"abstract":"This study examines how residential electricity consumption (KWHC) reacts to changes in the price of electricity, the price of natural gas, real income per capita, heating degree days, and cooling degree days. Annual frequency data analyzed are for Las Cruces, the second largest metropolitan economy in New Mexico. The sample period is 1977 to 2016. An AutoregressiveDistributed Lag model (ARDL) is employed to obtain long-run and short-run elasticities. In the long-run, residential consumption does not respond in a statistically reliable manner to any of the explanatory variables. All of the coefficient signs are as expected and those for real per capita income and total degree days appear plausible. In the short-run, residential consumption responds reliably to variations in all of the variables except per capita income. Somewhat surprisingly, the short-run results also include an own-price elasticity that is close to zero, implying that residential electricity has a horizontal demand curve in Las Cruces.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121199368","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Well-Being Gap during the Great Recession: The Role of Growth and Institutions","authors":"M. Ciziceno, P. Pizzuto","doi":"10.5296/rae.v12i2.16728","DOIUrl":"https://doi.org/10.5296/rae.v12i2.16728","url":null,"abstract":"The purpose of this paper is to examine the well-being dynamics across European countries during the Great Recession and to investigate the potential role of the quality of formal institutions in mitigating the negative effect of the economic downturn. This study uses the club convergence methodology by Phillips and Sul (2007; 2009) to group EU-28 countries that present similar features in terms of well-being during the period 2005-2017. The study also applies probit models to investigate the potential role of several social and institutional characteristics that are supposed to affect subjective well-being levels. The results show the existence of a “well-being gap” among European countries. The economic downturn started in 2008 has impacted the perceived well-being more in low-income and low-growth countries (less developed transition and Southern countries), than in high-income and more developed transition countries. The study also shows that countries that present well-functioning institutional systems and, more in general, good institutional performances show higher life satisfaction levels and tend to be more resilient to the negative effects generated by the economic shock.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122400247","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Oil Production in OPEC Countries: A Fractional Integration Study","authors":"L. Gil‐Alana, R. Nazari, Mahdi Khodaparast Mashhadi","doi":"10.5296/rae.v12i2.17114","DOIUrl":"https://doi.org/10.5296/rae.v12i2.17114","url":null,"abstract":"This paper investigates the structure of oil production in the OPEC by using techniques based on fractional integration. This analysis permits us to determine if exogenous shocks affecting the series will have transitory or permanent effects. The results show evidence reversion to the mean (and thus transitory shocks) for Ecuador, Qatar, Algeria, Nigeria, Iraq and the U.A.E., and lack of it (and thus permanency of shocks) for Arabia Saudi and Angola. For the remaining five countries (Gabon, Kuwait, Iran, Libya and Venezuela) the results are ambiguous depending on the specification of the error term. Allowing for structural breaks, we notice that most of the countries display about four breaks and the orders of integration change substantially across the countries and the subsamples.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121280561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"European Identity Politics","authors":"K. Aiginger, Heinz Handler","doi":"10.5296/rae.v12i2.16841","DOIUrl":"https://doi.org/10.5296/rae.v12i2.16841","url":null,"abstract":"Social and political sciences use the term ‘identity’ in describing a wide range of phenomena, whether these be personal explanations of self-understanding, descriptions of common interests or the shared experiences of a larger group. It has been used in the recent analyses of countries or larger communities, but also in the historical studies of very different societies in developing or industrialized countries. To make the concept more operational and open to empirical research, we dichotomize it into an inclusive versus an exclusive type. This enables us to carve out the different policy conclusions associated with each type. We then apply the concepts for analysing the emergence of European identity over the past decades, as well as its limits and recent headwinds. We present survey data on national and supranational identity and country differences concerning trust in national and European institutions. As a counterstrategy to populism and the exclusive type of identity, political observers, from scientists to members of the media, are split into suggesting either a \"cordon sanitaire” to discourage voting for such ideas versus an embracement strategy by including their representatives into government, thereby controlling them or revealing their incompetence. This paper, in contrast, ventures a proactive strategy of four steps to localize the root causes of the success of populism, offering an inclusive vision for the long run, policy instruments for economic improvements and a new narrative. These concepts are linked to the strategy of the European Commission of a Green Deal and a Social Europe \"striving for more”, which acts as a program to strengthen the inclusive European identity and pre-empt the renationalization requested by the exclusive type. It is much too early to analyse the COVID-19 crisis under the proposed dichotomization and the new narrative. However, the differences in the initial reactions of countries to the emerging pandemic, bashing foreign sources for its creation and misusing the crisis for a restoration of autocratic leadership on the one hand and looking for solidarity on the national as well as international level on the other, may later be attributed to the concepts of exclusion versus inclusion.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"143 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126182166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Why is inflation targeting adopted?","authors":"Y. Kurihara","doi":"10.5296/rae.v12i1.16679","DOIUrl":"https://doi.org/10.5296/rae.v12i1.16679","url":null,"abstract":"Since the early 1990s, inflation targeting (IT) has been conducted in many countries and the number of the countries has been increasing rapidly. The outcomes of adopting IT has been discussed, however, the incentives of adopting IT is not fully examined. This study focuses on this issue empirically. The results are clearly divided into two types of countries. In developed countries, budget/GDP ratio, central bank credibility, exchange rate stability, and openness of the economy are deterministic elements of adopting IT, however interestingly, inflation itself does not play any roles of adopting IT. On the other hand, only inflation is the deterministic element of adopting IT in developing countries. Other elements, that are deterministic elements in developed countries, do not any effects on introducing IT. Moreover, countries would not like to limit the scope of policies when the economy’s openness is high.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125127263","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Relationship between Economic Growth and Unemployment Rates: Validation of Okun’s Law in Panel Context","authors":"Despina Tumanoska","doi":"10.5296/rae.v12i1.16665","DOIUrl":"https://doi.org/10.5296/rae.v12i1.16665","url":null,"abstract":"This paper investigates the relationship between economic growth and unemployment rates of total and youth population in panel context. The research is in context of Okun’s Law and includes two panels: 1) Panel composed of seven South Eastern European countries and 2) Panel composed of 14 EU members’ countries whose youth unemployment rate in 2017 was below the EU average rate. The econometric analysis of the paper is based on the Autoregression Distributed Lags Model, using data for the period 1991-2017. The results suggests that there is a statistically significant relationship between the economic growth and unemployment rates in both panels, whereas the relationship is stronger in the EU panel, while the adjustment of the unemployment rates to the changes in the economic growth is faster in the SEE panel. A part of this result can be explained by the more flexible labor market institutions in the developing countries, as those that are a part of the SEE panel.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127721177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impact of Capital Inflows on Manufacturing Exports and Economic Growth: An Empirical Evidence from Nigeria","authors":"Abiodun Sunday Olayiwola, K. Joseph","doi":"10.5296/rae.v12i1.16476","DOIUrl":"https://doi.org/10.5296/rae.v12i1.16476","url":null,"abstract":"A lot of studies have examined the relationship between capital inflows and economic growth in Nigeria; Most of these studies examined either oil export, non-oil export or total exports, without specific emphasis on manufacturing export; given that manufacturing export is fundamental to economic growth. In this case, we examined the dynamic impact of capital inflows on manufacturing exports and economic growth in Nigeria between 1981 and 2017 using annual data. Data collected were analyzed using Autoregressive Distributed Lag (ARDL) econometric techniques and the results revealed that capital inflows have significant and positive impact on economic growth (t= 4.42884, p 0.05). Therefore, the study concluded that capital inflows have significant impact on economic growth but no impact on the manufacturing exports in Nigeria; and we recommend that the government and monetary authorities’ in Nigeria should formulate economic policies that will promote manufacturing exports through adequate and efficient infrastructural facilities that would encourage the needed capital inflows to the manufacturing sector and increase the production of goods for local consumption and export.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121291707","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Monetary Policy and Income Inequality in Ghana","authors":"Inci Parlaktuna, A. Napari","doi":"10.5296/rae.v11i4.16001","DOIUrl":"https://doi.org/10.5296/rae.v11i4.16001","url":null,"abstract":"Monetary policy, even if minimal and uncertain regarding the direction of impact, has been found to have distributional effects especially in the developed world. The purpose of this study is to determine the impact monetary policy has on income inequality in Ghana which can be a case study for a developing African Economy with independent monetary policy. Data for the period 2002Q1 to 2013Q4 is used. The study used the Impulse Response Functions (IRFs) by Local Projections methodology in estimating the degree and direction of impact of monetary policy on income distribution in Ghana. From the analysis, it is concluded that contractionary monetary policy leads to an increase in disposable income inequality in Ghana marginally.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131545508","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Quantitative Assessment of the Role of the Private Sector in Economic Diversification in UAE","authors":"Radwa Radwan Said","doi":"10.5296/rae.v11i4.16119","DOIUrl":"https://doi.org/10.5296/rae.v11i4.16119","url":null,"abstract":"The United Arab Emirates (UAE) has often been addressed as a success case in the GCC region due to its implemented policies that spurred growth and development with a market-friendly approach. This study aims to investigate the relationship between economic diversification and private sector development. For this, we employed an ARDL con-integration method to check the long run as well as short run relationship between variables. We found that the domestic credit to private sector has a positive relationship with diversification index. Also, domestic credit to private sector (DCPS) percentage of GDP has both short and long run relationship with economic diversification index. The results indicate that the domestic credit to private sector will promote the economic diversification in both the short and long runs. Moreover, the government infrastructure will also promote economic diversification in the long run but not in the short run. The trade openness has a negative impact on economic diversification in the long run, but it has a positive impact in the short run.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131586167","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Tax Buoyancy in the Caribbean: Evidence from Heterogenous Panel Cointegration Models","authors":"Jeetendra Khadan","doi":"10.5296/rae.v11i4.15612","DOIUrl":"https://doi.org/10.5296/rae.v11i4.15612","url":null,"abstract":"This paper provides long and short run tax buoyancy estimates for a group of 12 Caribbean countries over the period 1991-2017. By using various panel regressions estimated by the Mean Group and Pooled Mean Group estimators, this paper finds that the long and short run tax buoyancy estimates are statistically greater than one. However, the results vary by tax categories: with respect to indirect taxes—which accounts for almost 65 percent of total tax revenues—the buoyancy of the long run coefficient significantly less than one (0.35), while for direct taxes it is significantly higher than one (1.33). It was also found that long run tax buoyancy was lower in the post global financial crisis period. With respect to short-run buoyancy, corporate taxes and trade taxes are the most buoyant in the short-run while property taxes were found to be statistically insignificant. For taxes on goods on services, the single most important tax for most countries, both long and short run buoyancy is not significantly different from one.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"88 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122563823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}