Institutions & Transition Economics: Macroeconomic Issues eJournal最新文献

{"title":"Assessment of the Impact of COVID-Restrictions on the Economy of Ukraine and the World","authors":"S. Voitko, Tetiana Mazanko","doi":"10.15587/2706-5448.2021.235461","DOIUrl":"https://doi.org/10.15587/2706-5448.2021.235461","url":null,"abstract":"The object of research is the processes of reducing economic activity in Ukraine and the world during COVID-restrictions, reducing the amount of carbon dioxide emissions in 2020 compared to 2019 by country and in various sectors of the economy. The most topical researches and publications in which the given questions are covered are analyzed. Based on statistical data, the paper shows a slight decline in Ukraine's GDP in 2020. Based on the consideration of the negative impact of quarantine restrictions, it was noted that the type of economic activity (EA) such as passenger transport suffered the most. At the same time, as the production of foreign trade, the performance of retail trade and construction has improved its dynamics. Elsewhere in the world, there has also been a slight economic downturn, while China has been able to maintain a slight increase in GDP. For 2021, there is a positive outlook for economic growth. The introduction of lockdowns and quarantine restrictions has led to a simultaneous reduction in CO2 emissions worldwide and reduced the negative impact on the environment. Thanks to the data of carbon dioxide emissions monitoring, it is possible to see a significant reduction in emissions since the beginning of COVID-restrictions in 2020. At the end of the year, the level of emissions reached almost the same level as before the restrictions, but the total volume for the year decreased significantly. If to look at the sectors, the largest amount of carbon dioxide emissions decreased in the aviation sector. This also applies to the land transport sector. Peaks of falling CO2 emissions occur in April 2020. The study showed that the reduction in economic activity due to «lockdowns» and quarantine restrictions affected the fall in energy consumption, especially in the aviation and land transport sectors, and this, in turn, led to a reduction carbon dioxide. This duly explains the relationship between declining economic growth and reducing CO2 emissions.\u0000The conducted research will be of interest to relevant ministries and departments in terms of their areas of responsibility, relevant organizations dealing with environmental and economic research, specialists who study and use in practice research on socio-economic problems of society.","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117148720","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":"Effects of Human Progress Driven by Technological Change on Physical and Mental Health","authors":"M. Coccia","doi":"10.2139/ssrn.3857165","DOIUrl":"https://doi.org/10.2139/ssrn.3857165","url":null,"abstract":"Human progress, driven by technical advances, increases wealth and well-being in society. However, socioeconomic and technological progress does not always lead to general well-being of people in society. In particular, this study shows some inconsistencies of human progress, technology-driven, on physical and mental health, given by a greater incidence of cancer and suicide in highly developed societies. Overall, then, empirical evidence seems to reveal that human progress generates positive effects but also leads to disorders for physical and mental health in the continuous evolution of society over time and space.","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"1128 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126799955","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":"US Stimulus Plan Raises Inflation Expectations (Review of Financial Markets From January 16 Through March 15, 2021)","authors":"A. Abramov, A. Radygin, Andrey Kosyrev, M. Chernova","doi":"10.2139/ssrn.3818095","DOIUrl":"https://doi.org/10.2139/ssrn.3818095","url":null,"abstract":"The expansion of the US government economic stimulus package has raised concerns about accelerating inflation and rising asset values not only inside the country, but throughout the world. In the medium term, the Russian economy and financial market may benefit from climbing US budget spending. The expensive anti-crisis measures may push up prices for oil and other raw materials and, accordingly, produce an increase in the value of shares issued by Russian companies. However, this effect is expected to be temporary.","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134541345","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":"Assessing the Impact of Banking Efficiency, Operations and Regulation on Banking Performance: Fresh Insight Using Dynamic Correlated Framework on the Data Set of Russia and Ukraine","authors":"A. Syed","doi":"10.15549/JEECAR.V8I1.514","DOIUrl":"https://doi.org/10.15549/JEECAR.V8I1.514","url":null,"abstract":"The purpose of this study is to investigate how banking industry-specific variables like regulation, efficiency, and operations affected nonperforming loans (NPLs) in Ukraine and Russia from 1995 to 2019. This study has employed the robust unit root test and cross-sectional dependencies technique along with a new DCCE approach. The dynamic correlated method is employed as it provides the best results when data suffers from cross-sectional dependencies. The study concludes that loose credit policy and lower profitability help in rising NPLs. However, in the context of macroeconomic variables, volatile interest rates, and exchange rate fluctuations are the main reason for NPLs in Russia and Ukraine. \u0000The research work also highlights the issue of cross-sectional dependencies and provide substantial methods to resolve the problem of cross-sectional dependencies and provide robust results. Findings will help policymakers to recognize the relevance of industry-specific variables in managing NPLs along with other macroeconomic variables.","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"272 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123417481","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 Decentralized Autonomous Organization (DAO) of DAOs","authors":"Wulf A. Kaal","doi":"10.2139/ssrn.3799320","DOIUrl":"https://doi.org/10.2139/ssrn.3799320","url":null,"abstract":"A well-governed DAO of DAOs can provide technological and community solutions for the evolution of the DAO ecosystem. Through its technological infrastructure designs, a DAO of DAOs can create, improve and expand well-functioning and well-governed networks of DAOs. That DAO infrastructure, in turn, improves most of the applications and uses of digital assets and decentralized commerce for the greater good of society. This article examines the core features of a possible DAO of DAOs design, its ability to expand the DAO ecosystem, and the design’s uses in business and society.","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125630910","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":"China’s Economic Planning: How Does It Work? (Comment fonctionne le système de planification économique chinois ?)","authors":"A. Garcia-Herrero","doi":"10.2139/ssrn.3786531","DOIUrl":"https://doi.org/10.2139/ssrn.3786531","url":null,"abstract":"English abstract: As China’s global influence increases, the Chinese-style decision-making model with socialist characteristics is gaining wider attention. This is all the more the case as China’s economic planning seems to have been rather successfully, based on its fast economic growth and the sheer number of people which has been lifted out of poverty. China’s central economic planning has its roots in the Soviet model. Stalin claimed that ‘‘the socialist economy should progress based on plans” at the seventh expansionary conference of the Executive Committee of the Communist International1. Under his guidance, the former Soviet Union designed centralized economic plans into what was the first five-year plan in 1927. As early as 1953, China started its first five-year plan covering the period 1953–1957. Since they the five year plan has remained the Party’s key tool for economic planning. Since 1953, China has implemented thirteen five-year plans. 2021 will mark the first year of the fourteenth five-year Plan. Beyond this medium-term planning, other guiding principles and strategic policies also help carry out relevant economic policies at the central and local government level. Examples of a key ones in the past few years are China Manufacturing 2025, the Social Credit Scoring System at the individual and the company level, China Standards 2035, etc. All of these policies need to be understand in the context of China’s economic model, which Chinese leaders define as socialism with Chinese characteristics. Another way to describe it is indeed “state capitalism” . The first definition of state capitalism coined by Bakunin in his pamphlet on the State and Anarchism (1873) focuses on the control of allocation of credit and the control of private property through central planning. In the Chinese case (even more so in the Soviet case though) , the central government goes beyond planning and allocation of credit (surely the case as the vast majority of banks are control by the central or local governments). In fact a relevant share of goods and services are produced by state-owned companies, control by the central government, namely by the State-owned AssetsSupervision and Administration Commission (SASAC) or by local government through their local SASACs French abstract: La réussite économique spectaculaire de la Chine conduit à s’intéresser à son système de planification. Irriguant tous les niveaux de gouvernement, dans un mouvement descendant mais aussi ascendant, il a su adapter ses priorités au fil du temps et de l’intégration internationale du pays. Amesure que l’influence mondiale de la Chine s’accroît, le modèle de prise de décision chinois suscite une plus grande attention – d’autant que la planification économique de la Chine, si l’on considère la croissance économique du pays et la baisse considérable du nombre de personnes en situation de pauvreté, semble avoir plutôt réussi. La planification économique chinoise prend ses racines dans le","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"266 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129874985","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":"Mortgage Lending in January-September 2020","authors":"S. Zubov","doi":"10.2139/ssrn.3749422","DOIUrl":"https://doi.org/10.2139/ssrn.3749422","url":null,"abstract":"On the back of the lending market interest rate cuts and implementation of the subsidized mortgage program (mortgage loans at the interest rate of 6.5% per annum for home buying on the primary housing market), real-estate market demand picked up. In Q1-Q3, 2020, banks increased substantially mortgage lending volumes, having surpassed the high outturns seen in 2018. The downside of the lending-based demand stimulation was the appreciation of prices both on the primary and secondary housing markets and high household debt load. This makes the money authorities point to the need of wrapping up the subsidized mortgage government program in the near future.","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"89 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131470710","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":"Modeling of Motivation of Top Managers in Regional Management Structures Using a Multi-Objective Genetic Algorithm","authors":"S. Yashin, E. Koshelev","doi":"10.2139/ssrn.3694418","DOIUrl":"https://doi.org/10.2139/ssrn.3694418","url":null,"abstract":"The purpose of this research is to create a model for evaluating financial and non-financial motivation of top managers in regional and district management structures. For this purpose, the efficiency of inter-cluster interaction within one federal district is evaluated using a system of factors of socio-economic development of Russian regions, which directly affect the natural population growth in the district's regions. Since people's priorities are more important, the effectiveness of their implementation should be financially motivated. It is proposed to motivate the implementation of objectives affecting the State as a whole in an intangible way. To solve this problem, the multi-objective genetic algorithm method is used, which makes it possible to obtain the Pareto frontier for the dual-objective function of natural population growth, all the solutions of which are equally optimal. Choosing any point of the Pareto frontier, you can find in it fractions of financial and non-financial motivation of top managers. They are determined by the proximity to the extreme points of the Pareto frontier, where only one of the two regressions (motivations) is maximum.","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129524160","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":"Неизбежные перемены в Болгарии — но что они собой представляют и что они в себе несут? (The Inevitable Change in Bulgaria — But What Is It and What Does It Bring to Us?)","authors":"Venelin Terziev","doi":"10.2139/ssrn.3682679","DOIUrl":"https://doi.org/10.2139/ssrn.3682679","url":null,"abstract":"<b>Russian Abstract:</b> Целью этой публикации является изучение существующих проблем, с которыми сталкиваются социальные изменения в нашем новом социальном развитии и неизбежные перемены в Болгарии. Неизбежные перемены, скорее всего, наступят, но не смотря на наши мысли, действия или же безразличие рано или поздно мы их заметим или учтём. Связаны с ними проблемы являются совершенно разнообразными по своей сути, поэтому сообщества и каждый отдельный человек испытывают их по-разному. Они относительно точно отражают последующие действия, но не всегда являются следствием этих проблем — экономических, социальных, политических, культурных, этнических или других, и в большинстве случаев являются результатом действий или бездействия в конкретной ситуации.<br><br><b>English Abstract:</b> The purpose of this publication is to examine the challenges facing social change in our new social development and the inevitable change in Bulgaria. The inevitable change is likely to come, but how we feel about it, make it, or neglect it is only a matter of time before we accept or register it. Challenges are various in nature and communities and individuals experience them differently. They relatively accurately reflect the follow-up actions, but they are not always a consequence of these challenges — economic, social, political, cultural, ethnic or other, and in most cases they are the result of action or lack of action in a particular situation.<br>","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"154 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124307120","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":"Interregional Demand for Workers and the Effects of Labor Income Taxation","authors":"A. Batabyal, H. Beladi","doi":"10.2139/ssrn.3677455","DOIUrl":"https://doi.org/10.2139/ssrn.3677455","url":null,"abstract":"We study the short-run impacts of labor income taxation in an aggregate economy of N&gt;2 regions. The distinct regions demand workers. Each region is endowed with one unit of immobile capital. The aggregate economy also has one unit of labor that is mobile across the regions. All regions produce a final good with identical Cobb-Douglas production functions. The price of output is normalized to unity. We perform five tasks. First, we focus on the benchmark case in which no region taxes either capital or labor. We find the equilibrium wage, the allocation of workers across the regions, and the total income of labor and capital. Second, we study the impact of a tax τ on labor income in region 1 when the other N-1 regions do not tax labor income. We ascertain the after-tax return to labor in region 1, the equilibrium wage, and the allocation of labor across the regions. Third, we compute the total income of capital and labor and the tax revenue in region 1. Fourth, we discuss whether workers in region 1 are better off with a tax on labor income. Finally, we comment on the policy implications of our research.","PeriodicalId":350134,"journal":{"name":"Institutions & Transition Economics: Macroeconomic Issues eJournal","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130871359","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}