Journal of Economic Asymmetries最新文献

Regime-switching, fiscal policy shocks and macroeconomic fluctuations in Peru 秘鲁的政权更替、财政政策冲击和宏观经济波动

Journal of Economic Asymmetries Pub Date : 2026-06-01 Epub Date: 2025-12-22 DOI: 10.1016/j.jeca.2025.e00448

Gabriel Rodríguez , Joseph Santisteban

引用次数: 0

The nonlinear effects of global economic policy uncertainty on individual unemployment: Micro-Level evidence of heterogeneities and asymmetries 全球经济政策不确定性对个人失业的非线性影响：异质性和不对称性的微观证据

Journal of Economic Asymmetries Pub Date : 2026-06-01 Epub Date: 2026-02-03 DOI: 10.1016/j.jeca.2026.e00454

Mahalia Jackman , Lianna Williams

{"title":"The nonlinear effects of global economic policy uncertainty on individual unemployment: Micro-Level evidence of heterogeneities and asymmetries","authors":"Mahalia Jackman , Lianna Williams","doi":"10.1016/j.jeca.2026.e00454","DOIUrl":"10.1016/j.jeca.2026.e00454","url":null,"abstract":"<div><div>This study examines the non-linear effects of global economic policy uncertainty (EPU) on individual-level unemployment, using Barbados – a small, open economy with a fixed exchange rate – as our empirical example. To this end, we analyse the microdata used to compute Barbados's official unemployment rate between 2004 and 2022. Generally, we find that when global policy uncertainty increases, individuals face a higher likelihood of unemployment. However, our results also reveal that the effects of foreign EPU on unemployment are not uniform; instead, they exhibit significant heterogeneities and asymmetries. We find that younger individuals, men, those with post-secondary academic qualifications, and individuals employed in the construction, leisure and hospitality, and professional and business services sectors are particularly vulnerable to increases in uncertainties abroad. Our results suggest that unemployment reacts more strongly to uncertainty during economic downturns and periods of stagnation than during economic booms. Moreover, we observe that individual unemployment is slightly more affected by decreases in foreign EPU than by increases.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"33 ","pages":"Article e00454"},"PeriodicalIF":0.0,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146188980","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}

引用次数: 0

Asymmetric effects of industrial robots on energy intensity: The moderating role of macroeconomic factors 工业机器人对能源强度的不对称效应：宏观经济因素的调节作用

Journal of Economic Asymmetries Pub Date : 2026-06-01 Epub Date: 2026-01-08 DOI: 10.1016/j.jeca.2026.e00449

Manuel A. Zambrano-Monserrate , Naila Erum , Brahim Bergougui

{"title":"Asymmetric effects of industrial robots on energy intensity: The moderating role of macroeconomic factors","authors":"Manuel A. Zambrano-Monserrate , Naila Erum , Brahim Bergougui","doi":"10.1016/j.jeca.2026.e00449","DOIUrl":"10.1016/j.jeca.2026.e00449","url":null,"abstract":"<div><div>This research examines how the adoption of industrial robots (IR) has influenced the energy intensity of Chinese manufacturing firms between 2011 and 2019. Using a combination of fixed-effects (FE-OLS), instrumental-variable (IV/2SLS), and Method of Moments Quantile Regression (MMQR) estimations, the analysis investigates both average and distributional effects. In addition, an Enterprise Innovation and Efficiency Index (EIEI) is introduced as an exploratory indicator that summarizes firms’ investment capacity, financial structure, and managerial incentives. The findings reveal that industrial robots are generally associated with lower energy intensity, with stronger reductions observed among firms at the upper end of the distribution. The business cycle itself shows no direct influence, although its interaction with IR becomes relevant during periods of economic expansion. In highly concentrated industries, energy intensity tends to fall, but this effect weakens when automation deepens. Environmental regulation on its own is not significant; however, when combined with IR, it can temporarily raise energy use as firms adjust to new technologies. The EIEI results indicate that companies with stronger internal capabilities—greater investment resources, sound financial positions, and effective management—are better placed to achieve lasting energy efficiency. These findings emphasize the importance of promoting robotic automation in energy-intensive firms while aligning complementary strategies for sustainability.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"33 ","pages":"Article e00449"},"PeriodicalIF":0.0,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145927155","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}

引用次数: 0

Exploring dynamic interactions between energy prices and CPI 探索能源价格与居民消费价格的动态互动关系

Journal of Economic Asymmetries Pub Date : 2026-06-01 Epub Date: 2025-12-31 DOI: 10.1016/j.jeca.2025.e00446

Maddalena Cavicchioli , Catherine Kyrtsou , Angeliki Papana

引用次数: 0

Do migrant workers introduce asymmetries in the Phillips curve? 农民工是否在菲利普斯曲线中引入了不对称？

Journal of Economic Asymmetries Pub Date : 2026-06-01 Epub Date: 2026-01-12 DOI: 10.1016/j.jeca.2026.e00450

Jallynna Usun , Dzul Hadzwan Husaini , Shazali Abu Mansor

{"title":"Do migrant workers introduce asymmetries in the Phillips curve?","authors":"Jallynna Usun , Dzul Hadzwan Husaini , Shazali Abu Mansor","doi":"10.1016/j.jeca.2026.e00450","DOIUrl":"10.1016/j.jeca.2026.e00450","url":null,"abstract":"<div><div>This study hypothesizes that an increase in migrant workers may introduce asymmetric effects into the Phillips curve relationship in dynamic and open economies. As the share of migrant workers increases, the traditional price level–unemployment–output trade-off could become asymmetric, potentially reshaping price dynamics through labor market imbalances. Malaysia and Singapore have been used as case studies to explore this evolving structural asymmetry. Time series analysis has been employed to carefully analyze the sample study over the period 1980 to 2021. The findings reveal that gross domestic product (GDP), has a positive effect on the consumer price index (CPI), and that this effect is significantly amplified by higher levels of migrant workers. Conversely, while rising unemployment typically exerts downward pressure on price level, this negative effect is weakened in the presence of a larger migrant workforce. These results suggest that migrant workers play a key role in reshaping price dynamics. Given the role of migrant workers in amplifying price pressures, policymakers must carefully balance price level and income growth in order to preserve real gains and support sustainable economic development.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"33 ","pages":"Article e00450"},"PeriodicalIF":0.0,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145978262","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}

引用次数: 0

Green energy transition and the importance of cross-border coordination 绿色能源转型与跨境协调的重要性

Journal of Economic Asymmetries Pub Date : 2026-06-01 Epub Date: 2026-01-21 DOI: 10.1016/j.jeca.2026.e00453

Nikos Fatouros , Myrto Kasioumi

引用次数: 0

Asymmetric effect of energy security on economic performance: evidence from panel quantile regression 能源安全对经济绩效的不对称影响：来自面板分位数回归的证据

Journal of Economic Asymmetries Pub Date : 2026-06-01 Epub Date: 2026-01-17 DOI: 10.1016/j.jeca.2026.e00452

Mehmet Pinar

{"title":"Asymmetric effect of energy security on economic performance: evidence from panel quantile regression","authors":"Mehmet Pinar","doi":"10.1016/j.jeca.2026.e00452","DOIUrl":"10.1016/j.jeca.2026.e00452","url":null,"abstract":"<div><div>Energy security is essential for building resilient economies and sustaining economic growth, as it directly influences productivity, competitiveness, and overall economic performance. While existing research has explored the relationship between energy security and economic development, the asymmetric effects of energy security on economic performance remain underexamined. This paper seeks to address that gap. To test the asymmetric effects of energy security, we use various energy security proxies (domestic energy production relative to consumption, energy production per capita, renewable energy share, energy intensity, and energy consumption per capita) and employ a panel dataset of 117 countries from 2000 to 2022, and apply a panel quantile estimation method. The results reveal strong heterogeneity across income levels. Energy production relative to consumption and population, and energy consumption per capita, have stronger positive effects on GDP per capita in lower quantiles, highlighting the importance of energy availability and access in the early stages of development. By contrast, the renewable energy share has a negative effect in poorer economies but turns positive in richer economies, reflecting the high costs of renewable energy adoption for low-income countries and the benefits it generates in advanced economies. Energy intensity consistently has a negative impact, but the magnitude varies nonlinearly across quantiles, underscoring the role of energy efficiency. The results are robust to alternative sample compositions excluding microstates and to an aggregate measure of energy security constructed using principal component analysis. Overall, the findings suggest that energy policy should be tailored to countries’ development levels.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"33 ","pages":"Article e00452"},"PeriodicalIF":0.0,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146038125","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}

引用次数: 0

Gone with the cycle: The asymmetric impact of business cycle on growth 随周期而去：商业周期对经济增长的不对称影响

Journal of Economic Asymmetries Pub Date : 2026-06-01 Epub Date: 2025-12-17 DOI: 10.1016/j.jeca.2025.e00447

Emanuele Caggiano , Filippo Maurici

{"title":"Gone with the cycle: The asymmetric impact of business cycle on growth","authors":"Emanuele Caggiano , Filippo Maurici","doi":"10.1016/j.jeca.2025.e00447","DOIUrl":"10.1016/j.jeca.2025.e00447","url":null,"abstract":"<div><div>This paper investigates the asymmetric effects of business cycle volatility on economic growth in a panel of 99 countries over 1951–2019. Within a <span><math><mi>β</mi></math></span>-convergence framework, we decompose cyclical dynamics into three components: position relative to trend, amplitude of deviations, and phase. Three key findings emerge. First, we find robust evidence of <span><math><mi>β</mi></math></span>-convergence, which is stronger in per-capita terms than in aggregate output, showing that demographic dynamics partly mask the pace of productivity-driven catch-up. Second, large deviations from trend carry a significant growth penalty, pointing to stable slope asymmetry across specifications. Third, phase effects are not statistically significant, indicating that expansions and recessions do not produce structural jumps in average growth. A Gaussian-mixture clustering of volatility regimes further reveals that pooled regressions are dominated by low-volatility observations, while in high-volatility environments convergence is sharper and volatility costs are more severe. Overall, the evidence supports models in which volatility magnifies effective risk and depresses investment, and highlights the need for stabilization strategies that are both counter-cyclical and volatility-sensitive.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"33 ","pages":"Article e00447"},"PeriodicalIF":0.0,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145760738","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}

引用次数: 0

Asymmetric transmission of crude oil prices into fuel prices - Evidence from Pakistan 原油价格向燃料价格的不对称传导——来自巴基斯坦的证据

Journal of Economic Asymmetries Pub Date : 2025-11-01 Epub Date: 2025-08-27 DOI: 10.1016/j.jeca.2025.e00436

Muhammad Imran Chaudhry , Ghina Irfan , Omar Al-Titi

{"title":"Asymmetric transmission of crude oil prices into fuel prices - Evidence from Pakistan","authors":"Muhammad Imran Chaudhry , Ghina Irfan , Omar Al-Titi","doi":"10.1016/j.jeca.2025.e00436","DOIUrl":"10.1016/j.jeca.2025.e00436","url":null,"abstract":"<div><div>Research on the pass-through of international crude oil prices into domestic fuel prices has mainly focused on countries with market-driven fuel prices, but overlooked countries wherein fuel prices are set by the government. Against this background, we study the dynamics of price transmission between international crude oil markets and petroleum, light diesel and kerosene retail markets in Pakistan, an oil-importing developing country where fuel prices are regulated by the government. Our hand-collected dataset consists of the government's biweekly notifications on petroleum, light diesel and kerosene retail prices in Pakistan, and international crude oil prices from January-2007 to March-2022. We employ threshold-cointegration models and the associated asymmetric vector error-correction model to analyze the long-run and short-run mechanisms of fuel price adjustments in Pakistan. Our empirical estimates reveal that Pakistan's fuel retail markets are cointegrated with international crude oil markets, but the underlying price-adjustment process is relatively slow. We find evidence of the <em>“rockets and feathers”</em> phenomenon in petroleum retail prices, but not in light diesel and kerosene retail prices in Pakistan. The <em>“rockets and feathers”</em> phenomenon in petroleum retail prices is driven by the government's tendency to exploit decreases in international crude oil prices to increase taxes on petroleum, instead of lowering petroleum retail prices in Pakistan. The observed differences in the mechanisms of price transmission from international crude oil markets into the petroleum, light-diesel and kerosene retail markets in Pakistan highlight that government-regulated fuel prices serve as a policy lever for balancing fiscal constraints with political economy considerations in oil-importing developing countries.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"32 ","pages":"Article e00436"},"PeriodicalIF":0.0,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144908176","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}

引用次数: 0

On the link between U.S. national debt and income distribution: Asymmetric evidence from state level data 论美国国债与收入分配之间的关系：来自州一级数据的不对称证据

Journal of Economic Asymmetries Pub Date : 2025-11-01 Epub Date: 2025-06-13 DOI: 10.1016/j.jeca.2025.e00428

Mohsen Bahmani-Oskooee , Mehrnoosh Hasanzade , Huseyin Karamelikli

引用次数: 0