Journal of Economic Asymmetries最新文献_第2页

The asymmetric impact of fiscal decentralization on ecological footprint-accounting for methodological refinements and globalization facets

Journal of Economic Asymmetries Pub Date : 2025-01-08 DOI: 10.1016/j.jeca.2024.e00400

Atrayee Choudhury , Sohini Sahu

{"title":"The asymmetric impact of fiscal decentralization on ecological footprint-accounting for methodological refinements and globalization facets","authors":"Atrayee Choudhury , Sohini Sahu","doi":"10.1016/j.jeca.2024.e00400","DOIUrl":"10.1016/j.jeca.2024.e00400","url":null,"abstract":"<div><div>In the wake of global climate change, this study tries to reconcile the competing evidence on the fiscal decentralization–environmental sustainability nexus by examining the impact of the regional authority index, a comprehensive index of decentralization, on ecological footprint - a novel and composite indicator of environmental sustainability. Using novel econometric techniques to account for potential asymmetry and endogeneity issues, such as the dynamic panel threshold methodology, and quantile techniques, on a sample of 53 countries over two decades, we find robust evidence that the effect is non-linear and conditional on the degree of fiscal decentralization. Decentralization exerts a favourable impact on ecological footprint in lower regime countries owing to positive externalities, while the adverse impact of the same is observed in higher regime countries due to the “race to the bottom” phenomenon. Furthermore, the mediating channels of political and financial globalization weaken the positive externalities spillover, whereas social and cultural globalization mitigates the “race to the bottom” effect, addressing the on-going debate about the trade-off between globalization and environmental sustainability. The effective mitigation of climate change impacts under sub-national governance is thus conditioned by an optimal mix of decentralization policies at the ground level, backed by global exchange of socio-cultural policies promoting ecological awareness.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"31 ","pages":"Article e00400"},"PeriodicalIF":0.0,"publicationDate":"2025-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143143648","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

Macroeconomic asymmetries and their influence on fintech ecosystem growth: A global and regional perspective

Journal of Economic Asymmetries Pub Date : 2025-01-06 DOI: 10.1016/j.jeca.2024.e00399

Hassnian Ali , Ahmet Faruk Aysan

{"title":"Macroeconomic asymmetries and their influence on fintech ecosystem growth: A global and regional perspective","authors":"Hassnian Ali , Ahmet Faruk Aysan","doi":"10.1016/j.jeca.2024.e00399","DOIUrl":"10.1016/j.jeca.2024.e00399","url":null,"abstract":"<div><div>This study examines the asymmetric macroeconomic factors influencing the formation and growth of fintech ecosystems across 103 countries from 2005 to 2022, offering both global and regional perspectives. Using a fixed-effects negative binomial regression model as the primary methodology, the research identifies key macroeconomic drivers—such as GDP per capita, inflation, financial development, and real interest rates—whose impacts on fintech formation vary significantly across regions. Additionally, an adapted Asymmetric Error Correction Model (AECM) for count panel data is employed as a supplementary analysis to capture the differential effects of positive and negative changes in macroeconomic variables. The findings reveal how global crises, including the Global Financial Crisis (GFC) and the COVID-19 pandemic, have unevenly disrupted fintech growth, exposing regional vulnerabilities and opportunities. Europe's fintech expansion is primarily driven by investments in education and human capital, while Asia and the Gulf Cooperation Council (GCC) countries are more responsive to macroeconomic stability. In contrast, African fintech ecosystems rely heavily on financial development to foster growth. Robustness checks with lagged variables further validate the temporal effects of these drivers, emphasizing their long-term implications. By exploring the role of macroeconomic asymmetries in shaping fintech ecosystems, this study provides critical insights for policymakers and investors aiming to enhance resilience and foster sustainable growth tailored to the distinct economic environments of each region.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"31 ","pages":"Article e00399"},"PeriodicalIF":0.0,"publicationDate":"2025-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143143644","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

Alternative monetary policy rules in an imperfectly competitive DSGE model with asymmetric price adjustment

Journal of Economic Asymmetries Pub Date : 2025-01-06 DOI: 10.1016/j.jeca.2024.e00397

George Alogoskoufis, Stelios Giannoulakis

引用次数: 0

The impact of the Covid-19 pandemic on gender labor market asymmetries in Germany

Journal of Economic Asymmetries Pub Date : 2025-01-04 DOI: 10.1016/j.jeca.2024.e00396

Timo Baas

{"title":"The impact of the Covid-19 pandemic on gender labor market asymmetries in Germany","authors":"Timo Baas","doi":"10.1016/j.jeca.2024.e00396","DOIUrl":"10.1016/j.jeca.2024.e00396","url":null,"abstract":"<div><div>The Corona pandemic affected life and working conditions around the world. Some could work from home, some had to risk their lives at the workplace, and some got laid off. The selection of employees to one of these groups, however, was asymmetric about gender. More than 63 percent of employees providing services in Germany are female; females in health professions account for more than 75 percent, and in social professions, including daycare, the share of female employees is at 84 percent. These occupations were in high demand during the pandemic and cannot be practiced at home. Since women do more than 62 percent of housework and childcare, the high demand for female work creates a dilemma. While family obligations increased as childcare facilities and schools closed, women had to decide whether to remain or drop out of the labor market. In this paper’s estimated DSGE model, these choices are addressed by allowing for asymmetries in participation decisions and disutility of effort for male and female workers. While at the beginning of the pandemic, female employment increased relative to male, an increase in disutility drove females out of the labor market during the second lockdown. Instead, predominantly males entered, and females reacted to this increase by staying absent. This pattern resembles previous findings on historical pandemics and, in the literature, is called “the added worker effect.”</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"31 ","pages":"Article e00396"},"PeriodicalIF":0.0,"publicationDate":"2025-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143143650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Exploring global financial interdependencies among ASEAN-5, major developed and developing markets

Journal of Economic Asymmetries Pub Date : 2025-01-01 DOI: 10.1016/j.jeca.2024.e00398

Barkha Dhingra , Mohit Saini , Mahender Yadav , Gaurav Kumar , Pankaj Kumar

{"title":"Exploring global financial interdependencies among ASEAN-5, major developed and developing markets","authors":"Barkha Dhingra , Mohit Saini , Mahender Yadav , Gaurav Kumar , Pankaj Kumar","doi":"10.1016/j.jeca.2024.e00398","DOIUrl":"10.1016/j.jeca.2024.e00398","url":null,"abstract":"<div><div>The outbreak of the virus in early 2020 led to widespread market volatility and significant declines in stock prices. The importance of the ASEAN-5 markets has emerged as a result of the pandemic. Post-covid-19 and Russia-Ukraine war, these markets have gained attention from investors and researchers. Therefore, it is crucial to understand the extent to which the ASEAN-5 markets are connected to other major markets in order to fully grasp the impact of the pandemic on global stock markets. Hence, this study aims to examine the connectedness among ASEAN-5, the US, the UK, India, and China's stock markets. The data for the period January 2017 to December 2022 were retrieved. DCC-GARCH is employed to fetch the connectedness for sub-periods: pre, during, and post-covid-19. The results in the pre-covid-19 period highlight that Indian markets are least connected with the others; the Philippines is the worst net volatility receiver. During covid-19, China is the net volatility receiver, in the post-covid-19 period; Singapore is the net volatility receiver. The results are robust to the Minimum Spanning Tree (MST) analysis. During the crisis, investors should rebalance or reallocate their portfolios due to increased connection and declining benefits of diversification. To prevent the local markets from being affected by other markets, policymakers should take action.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"31 ","pages":"Article e00398"},"PeriodicalIF":0.0,"publicationDate":"2025-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143143646","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

Are the effects of monetary policy larger in recessions? A reconciliation of the evidence

Journal of Economic Asymmetries Pub Date : 2024-12-30 DOI: 10.1016/j.jeca.2024.e00394

Jeremy Piger , Thomas Stockwell

引用次数: 0

Evaluating the symmetry of trade policy: Evidence from liberalization reversals

Journal of Economic Asymmetries Pub Date : 2024-12-19 DOI: 10.1016/j.jeca.2024.e00395

Youssef Ait Benasser

{"title":"Evaluating the symmetry of trade policy: Evidence from liberalization reversals","authors":"Youssef Ait Benasser","doi":"10.1016/j.jeca.2024.e00395","DOIUrl":"10.1016/j.jeca.2024.e00395","url":null,"abstract":"<div><div>Is trade policy symmetric? Using a dataset of trade agreements from 1986 to 2016, we identify 596 instances of trade liberalization reversals where standing agreements are revoked and barriers to trade are reinstated. We study the impact of these reversals on import volumes to understand whether the size of trade flows responses to liberalization and protectionist policies are symmetric. The baseline results do not reject the null hypothesis of perfect policy symmetry: after a liberalization policy is reversed trade flows are on average indistinguishable from flows that did not experience earlier liberalization. Heterogeneity analysis reveals, however, that attributes of reversed policies, such as length and depth, impact their symmetry properties. In a context of increased policy volatility and evolving trade policymaking framework, this study pioneers research about the relative impacts and the persistence of liberalization and protectionism. The findings equip policymakers with critical insights into the durable benefits of liberalization, amidst protectionist pressures, and open new avenues for future research to explore the intricate dynamics of trade policy symmetry.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"31 ","pages":"Article e00395"},"PeriodicalIF":0.0,"publicationDate":"2024-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143143647","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

From debt arithmetic to fiscal sustainability and fiscal rules: Taking stock and policy lessons 从债务计算到财政可持续性和财政规则：盘点和政策教训

Journal of Economic Asymmetries Pub Date : 2024-11-30 DOI: 10.1016/j.jeca.2024.e00393

George Economides , Giota Koliousi , Natasha Miaouli , Apostolis Philippopoulos

引用次数: 0

The asymmetric impact of leisure externalities on economic growth 休闲外部性对经济增长的非对称影响

Journal of Economic Asymmetries Pub Date : 2024-11-01 DOI: 10.1016/j.jeca.2024.e00388

Spyridon Boikos , Alberto Bucci

{"title":"The asymmetric impact of leisure externalities on economic growth","authors":"Spyridon Boikos , Alberto Bucci","doi":"10.1016/j.jeca.2024.e00388","DOIUrl":"10.1016/j.jeca.2024.e00388","url":null,"abstract":"<div><div>Leisure generates externalities for the economy as a whole, as individuals generally get some (dis-)utility from their leisure-time. However, the sign and the extent of the effect that these externalities have on a specific worker's productivity and on the productivity of all other factors used in combination with labor (hence on long-term economic growth) may be asymmetric across different economic activities. The objective of this paper is to shed light on the impact that sector-specific leisure-time externalities have on the innovation rate, on the sectorial allocation of (skilled) labor, and eventually on the long-run economic growth rate, without making any prior assumption on their sign and magnitude. In the baseline model the growth rate of per capita income moves together with all types of leisure externalities, whereas the innovation rate moves together with (and depends solely on) the R&D-sector-specific leisure externality. From numerical analyses, we conclude that sector-specific leisure-time externalities provide asymmetric effects on the growth rate of real per capita GDP and on the way skilled labor is allocated across different economic activities. The robustness of these conclusions is analyzed by using various definitions of leisure along with different utility functions (including leisure as an argument).</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"30 ","pages":"Article e00388"},"PeriodicalIF":0.0,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142554543","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Asymmetries during pandemics and wartime 大流行病和战争期间的不对称现象

Journal of Economic Asymmetries Pub Date : 2024-11-01 DOI: 10.1016/j.jeca.2024.e00381

Sabri Boubaker, Toan L.D. Huynh, Duc Khuong Nguyen

引用次数: 0