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Erratum regarding missing Declaration of Competing Interest statements in previously published articles 关于先前发表的文章中缺少竞争利益声明的勘误表
Journal of Economic Asymmetries Pub Date : 2025-06-01 Epub Date: 2025-01-13 DOI: 10.1016/j.jeca.2025.e00401
{"title":"Erratum regarding missing Declaration of Competing Interest statements in previously published articles","authors":"","doi":"10.1016/j.jeca.2025.e00401","DOIUrl":"10.1016/j.jeca.2025.e00401","url":null,"abstract":"","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"31 ","pages":"Article e00401"},"PeriodicalIF":0.0,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143904423","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
Is the response of the Slovak labor market asymmetric to output changes? 斯洛伐克劳动力市场对产出变化的反应是否不对称？
Journal of Economic Asymmetries Pub Date : 2025-06-01 Epub Date: 2025-01-21 DOI: 10.1016/j.jeca.2025.e00403
Renáta Pitoňáková , Rudolf Kucharčík , Ladislav Kabát
{"title":"Is the response of the Slovak labor market asymmetric to output changes?","authors":"Renáta Pitoňáková ,&nbsp;Rudolf Kucharčík ,&nbsp;Ladislav Kabát","doi":"10.1016/j.jeca.2025.e00403","DOIUrl":"10.1016/j.jeca.2025.e00403","url":null,"abstract":"<div><div>The accession to the European Union, several external shocks, and the questionable state interventions in the country's business environment significantly impacted economic development of Slovakia. These phenomena were reflected in both the economic and social situation, namely the level of Gross domestic product (GDP) and rate of unemployment. The goal of our paper is to analyze the possible asymmetries in the unemployment-output relationship according to the Okun's law. We used quarterly data to apply static and dynamic models in their symmetric and asymmetric forms (2009 Q1 – 2023 Q3). The results suggest that the labor market reacts more noticeably to GDP contraction than to GDP expansion. The outcomes are of interest to governing bodies managing labor market policy, primarily in the economic downturn, and for banks in controlling interest rates and inflation.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"31 ","pages":"Article e00403"},"PeriodicalIF":0.0,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143143649","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 : 2025-06-01 Epub Date: 2024-11-30 DOI: 10.1016/j.jeca.2024.e00393
George Economides , Giota Koliousi , Natasha Miaouli , Apostolis Philippopoulos
{"title":"From debt arithmetic to fiscal sustainability and fiscal rules: Taking stock and policy lessons","authors":"George Economides ,&nbsp;Giota Koliousi ,&nbsp;Natasha Miaouli ,&nbsp;Apostolis Philippopoulos","doi":"10.1016/j.jeca.2024.e00393","DOIUrl":"10.1016/j.jeca.2024.e00393","url":null,"abstract":"<div><div>We start by clarifying the role of the interest rate-growth rate differential for long-term fiscal sustainability with numerical examples for the Greek economy. In turn, building upon this popular approach, which is based on the intertemporal government budget constraint only, we make a number of methodological points that question the quantitative usefulness of standard calculations. Among other things, we argue that a structural approach is needed and this reveals the necessity of fiscal rules according to which fiscal instruments systematically react to public debt imbalances. This naturally enables us to evaluate the EU’s fiscal rules and to suggest simple and implementable alternatives. Throughout, we confront our arguments with data from the Euro Area.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"31 ","pages":"Article e00393"},"PeriodicalIF":0.0,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142743938","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
The macroeconomic impact of asymmetric uncertainty shocks 不对称不确定性冲击的宏观经济影响
Journal of Economic Asymmetries Pub Date : 2025-06-01 Epub Date: 2025-03-05 DOI: 10.1016/j.jeca.2025.e00410
Henrik Müller , Boris Blagov , Torsten Schmidt , Jonas Rieger , Carsten Jentsch
{"title":"The macroeconomic impact of asymmetric uncertainty shocks","authors":"Henrik Müller ,&nbsp;Boris Blagov ,&nbsp;Torsten Schmidt ,&nbsp;Jonas Rieger ,&nbsp;Carsten Jentsch","doi":"10.1016/j.jeca.2025.e00410","DOIUrl":"10.1016/j.jeca.2025.e00410","url":null,"abstract":"<div><div>Political shocks impact the economy in different ways, depending of their nature. To capture these effects effectively, we present the Uncertainty Perception Indicator (UPI) based on German newspaper content. This approach combines the time-inherent stability of simple counts of articles with the thematic openness and flexibility of topic models. Using the dynamic RollingLDA technique facilitates the close-to-real-time identification of both the magnitude of an uncertainty shock and its specific characteristics. Hence, the UPI could prove highly useful for economic forecasters and policymakers, since it renders possible more timely and targeted policy reactions.</div><div>Employing a Bayesian VAR approach, we analyze the effects of various UPI shocks on fixed investment and other macroeconomic variables. Our results document the asymmetric nature of uncertainty shocks, as their consequences are dependent on the respective sources of uncertainty. We find that international shocks only have weak effects on the German macroeconomy, while domestic policy shocks prove to be highly significant. These results markedly differ from earlier studies that, in the case of Germany, tend to maintain the opposite.</div></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"31 ","pages":"Article e00410"},"PeriodicalIF":0.0,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550342","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
Ricardian equivalence and positively sloped IS curve: (Dis)equilibrium insights 李嘉图等价和正向倾斜的 IS 曲线：（非）均衡的启示
Journal of Economic Asymmetries Pub Date : 2024-11-01 Epub Date: 2024-09-17 DOI: 10.1016/j.jeca.2024.e00385
Xakousti Chrysanthopoulou , Moise Sidiropoulos , Alexandros Tsioutsios
{"title":"Ricardian equivalence and positively sloped IS curve: (Dis)equilibrium insights","authors":"Xakousti Chrysanthopoulou ,&nbsp;Moise Sidiropoulos ,&nbsp;Alexandros Tsioutsios","doi":"10.1016/j.jeca.2024.e00385","DOIUrl":"10.1016/j.jeca.2024.e00385","url":null,"abstract":"<div><p>In the New-Keynesian model augmented with non-Ricardian households (breakdown of the Ricardian equivalence), the elasticity of aggregate demand to changes in real interest rate is linked non-linearly to the share of non-Ricardian households. Importantly, this dependence may result in an upward-sloping dynamic New-Keynesian IS curve. Using an extended fractionally cointegrated VAR model in a recursive framework, we empirically test this for the US from 1959 to 2024, finding a positive long-run relationship between consumption and interest rates from 1980 to 1992, and a negative one from 1993 onwards, with a stronger negative correlation after 2000. These results suggest shifts in asset market participation, altering equilibrium dynamics in the goods market. We analytically show that when non-Ricardian households surpass a certain threshold, output adjusts to excess supply rather than demand, imposing novel restrictions on the New-Keynesian Phillips curve to maintain equilibrium determinacy. These bounds on the New-Keynesian Phillips curve slope under varying inflation targeting rules offer a new perspective on monetary policy design.</p></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"30 ","pages":"Article e00385"},"PeriodicalIF":0.0,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142243974","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
Monetary policy rules and the ECB rotation model 货币政策规则和欧洲央行轮换模式
Journal of Economic Asymmetries Pub Date : 2024-11-01 Epub Date: 2024-09-16 DOI: 10.1016/j.jeca.2024.e00384
Jens Klose
{"title":"Monetary policy rules and the ECB rotation model","authors":"Jens Klose","doi":"10.1016/j.jeca.2024.e00384","DOIUrl":"10.1016/j.jeca.2024.e00384","url":null,"abstract":"<div><p>In this article, we apply three different specifications of a monetary policy rule to reveal the interest rate preferences of the national central bank governors of the euro area. These preferences are combined with information from the ECB rotation model to determine whether a central bank governor was allowed to vote at a certain meeting. Finally, we empirically test whether non-voting governors or specific countries are worse off when not allowed to vote compared to a situation where they have a voting right. Our results indicate that there are only very few occasions where this is indeed the case. Thus, we conclude that the current form of the rotation model in the euro area does not discriminate any national governor or country.</p></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"30 ","pages":"Article e00384"},"PeriodicalIF":0.0,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1703494924000331/pdfft?md5=06d7c86790dd0911777de794afdee29d&pid=1-s2.0-S1703494924000331-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142243973","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
Ownership or procurement, which matters? exploring asymmetries in local public transportation in Italy through a semi-parametric approach 通过半参数方法探讨意大利地方公共交通中的不对称问题？
Journal of Economic Asymmetries Pub Date : 2024-11-01 Epub Date: 2024-07-27 DOI: 10.1016/j.jeca.2024.e00377
Monica Auteri , Alessandro Cremaschini
{"title":"Ownership or procurement, which matters? exploring asymmetries in local public transportation in Italy through a semi-parametric approach","authors":"Monica Auteri ,&nbsp;Alessandro Cremaschini","doi":"10.1016/j.jeca.2024.e00377","DOIUrl":"10.1016/j.jeca.2024.e00377","url":null,"abstract":"<div><p>The local public transportation (LPT) system is crucial for the growth and competitiveness of regions. The efficiency of service providers and the chosen procurement system significantly influence the LPT system’s operational dynamics. This study combines an analysis of service contract determinants with a comprehensive examination of company ownership impacts and LPT service procurement dynamics in major Italian cities. Using a GAMLSS (Generalized Additive Models for Location, Shape, and Scale) approach, the study identifies key factors influencing contract outcomes. This study reveals the complex interplay of cost factors, ownership models, and geographical disparities, offering valuable insights for policymakers and public transportation professionals.</p></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"30 ","pages":"Article e00377"},"PeriodicalIF":0.0,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1703494924000264/pdfft?md5=12f4b02590dc67c634c6fdf082f8da11&pid=1-s2.0-S1703494924000264-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141950611","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 inflation dynamics in Canada: A threshold vector autoregressive approach 探索加拿大的通货膨胀动态：阈值向量自回归方法
Journal of Economic Asymmetries Pub Date : 2024-11-01 Epub Date: 2024-05-11 DOI: 10.1016/j.jeca.2024.e00364
Yiguo Sun , Anastasia Dimiski
{"title":"Exploring inflation dynamics in Canada: A threshold vector autoregressive approach","authors":"Yiguo Sun ,&nbsp;Anastasia Dimiski","doi":"10.1016/j.jeca.2024.e00364","DOIUrl":"https://doi.org/10.1016/j.jeca.2024.e00364","url":null,"abstract":"<div><p>Given the pivotal role of inflation expectations in contemporary monetary policy, we posit that if monetary policy has effectively influenced inflation expectations, thereby altering the trajectory of total inflation, a structural break in the path of total inflation should be observable. Conversely, if inflation expectations have remained stable and monetary policy has had limited impact, a stable vector autoregressive (VAR) model should adequately describe the path of total inflation. To address these hypotheses, a non-linear specification of a threshold vector autoregressive (TVAR) model is employed, offering a comprehensive analytical framework for the examination of these dynamics.</p></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"30 ","pages":"Article e00364"},"PeriodicalIF":0.0,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1703494924000136/pdfft?md5=0d33933ff5ebede5fe93f3d4654f9ceb&pid=1-s2.0-S1703494924000136-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140905448","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
Asymmetric effects of monetary policy shocks on financial stability 货币政策冲击对金融稳定的不对称影响
Journal of Economic Asymmetries Pub Date : 2024-11-01 Epub Date: 2024-08-13 DOI: 10.1016/j.jeca.2024.e00380
George N. Apostolakis, Nikolaos Giannellis
{"title":"Asymmetric effects of monetary policy shocks on financial stability","authors":"George N. Apostolakis,&nbsp;Nikolaos Giannellis","doi":"10.1016/j.jeca.2024.e00380","DOIUrl":"10.1016/j.jeca.2024.e00380","url":null,"abstract":"<div><p>This study investigates the asymmetric effects of interest rate innovations on financial stress during times of conventional and unconventional monetary policy. We employ the methodology of Kilian and Vigfusson (2011) to examine the possible asymmetries between different monetary policy stances of the Fed and the ECB. The period under examination spans from 1999 to 2023, when the two central banks were active in conducting quantitative easing (QE) operations. The evidence reveals that the effects of implementing a contractionary or an expansionary monetary policy on financial stress are sign- and size-specific.</p></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"30 ","pages":"Article e00380"},"PeriodicalIF":0.0,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141979679","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 renewable energy resources, oil price, and trade openness helping France achieve its environmental targets? Evidence from an asymmetric analysis 可再生能源、石油价格和贸易开放是否有助于法国实现其环境目标？不对称分析的证据
Journal of Economic Asymmetries Pub Date : 2024-11-01 Epub Date: 2024-06-15 DOI: 10.1016/j.jeca.2024.e00371
Emna Omri , Haifa Saadaoui , Damien Bazin
{"title":"Are renewable energy resources, oil price, and trade openness helping France achieve its environmental targets? Evidence from an asymmetric analysis","authors":"Emna Omri ,&nbsp;Haifa Saadaoui ,&nbsp;Damien Bazin","doi":"10.1016/j.jeca.2024.e00371","DOIUrl":"https://doi.org/10.1016/j.jeca.2024.e00371","url":null,"abstract":"<div><p>The purpose of the present investigation is to scrutinize the impacts of green energy technologies, trade, the per capita income, and oil price on the carbon dioxide emissions and ecological footprint in France over the 1980/2022 period. Therefore, to achieve this objective, the Non-linear Autoregressive Distributed Lag (NARDL) approach is employed.</p><p>In fact, the obtained results showed that renewable energy is a contributor to the improvement of the French environment. In fact, a positive shock to renewable energy alleviates both the CO<sub>2</sub> emissions and the ecological footprint. Moreover, an upsurge in oil prices reduces the CO<sub>2</sub> emissions while their reduction enhances the ecological footprint. On the other hand, trade is proven to have a negative effect on the environmental damage. Furthermore, a positive variation in the GDP per capita exerts a positive upshot on the CO<sub>2</sub> emissions and ecological footprint, in the long run, whereas, a negative shock to the GDP per capita has a negative impact on the carbon dioxide emissions. Finally, a robustness check analysis is added using quantile regression (QR) in order to explore the effects of positive and negative variations of the different explanatory variables.</p><p>In fact, referring to these results, some strategic directions are proposed in order to decarbonize the French economy. Therefore, diversifying the electricity mix by introducing more renewable energies should be a priority. On the other hand, in order to avoid an increase of the State's energy bill in the event of an increase of the oil prices, it is important to reduce oil imports by increasing energy production from renewable sources such as hydraulic, solar, and wind energies.</p></div>","PeriodicalId":38259,"journal":{"name":"Journal of Economic Asymmetries","volume":"30 ","pages":"Article e00371"},"PeriodicalIF":0.0,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141328454","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
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