Argumenta Oeconomica最新文献_第5页

Modelling economic structure: the perspective of tourist cities 经济结构建模:旅游城市视角

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.2.07

Sheng Li, Yechang Yin, Anning Zhang, Jiwei Wu

{"title":"Modelling economic structure: the perspective of tourist cities","authors":"Sheng Li, Yechang Yin, Anning Zhang, Jiwei Wu","doi":"10.15611/aoe.2022.2.07","DOIUrl":"https://doi.org/10.15611/aoe.2022.2.07","url":null,"abstract":"This study uses a theoretical method and also mathematical programming (MP) models to assess the polarisation of Macao’s tourism industry in terms of economic realism, with Las Vegas as a reference. The industrial polarization of Macao’s gaming industry has led to a serious imbalance in the development of the city’s industrial structure. The author posits that market structures in the two locations vary in significant ways. Due to diverse market circumstances, including tourist amenities and consumer preferences, push forces are prominent in Macao, whereas pull forces are essential in Las Vegas. As such, Macao cannot and should not endeavour to reach the same level of diversification as Las Vegas due to the possible adverse consequences of being economically non-viable because of differences in market circumstances. These theoretical implications have been validated in reality in recent years. Indeed, the emergence of up-to-date resort assets have reinforced, rather than alleviated, the specialisation of Macao’s hospitality sector. The results suggest that casino tourism in Macao will continue to expand in a polarised fashion. The purpose of this study was to determine whether Macao’s diversification, although politically mandated, is economically realistic. With the implementation of policies such as the Guangdong–Hong Kong–Macao Greater Bay Area and the Guangdong–Macao In-Depth Cooperation Zone in Hengqin, it is hoped that the study’s policy relevance will become increasingly apparent in the coming years.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67085351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Modification of the Lee-Carter mortality model and its application in the pension scheme 李-卡特死亡率模型的修正及其在养老金计划中的应用

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.2.05

Agnieszka Rossa

引用次数: 0

Are there any negative career consequences for executives and directors working in stigmatized industries? 在污名化行业工作的高管和董事是否有负面的职业后果?

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.1.05

Dmytro Osiichuk

引用次数: 0

De jure and de facto democracy in post-socialist countries 后社会主义国家法律上和事实上的民主

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.1.06

Jacek Lewkowicz, Katarzyna Metelska-Szaniawska

引用次数: 0

A novel method to determine the growth potential of agricultural enterprises in various business plans 一种在各种商业计划中确定农业企业成长潜力的新方法

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.2.11

I. Gorlov, M. Slozhenkina, O. Kholodov, M. Kholodova, O. Shakhbazova, D. A. Mosolova, M. Poorghasemi, A. Seidavi

引用次数: 0

Covid-19 led to price slumps in the German stock market. Is sentiment applicable as an explanatory factor? 新冠肺炎疫情导致德国股市暴跌。情绪是否可以作为一个解释因素?

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.1.01

Emile David Hövel, Matthias Gehrke

{"title":"Covid-19 led to price slumps in the German stock market. Is sentiment applicable as an explanatory factor?","authors":"Emile David Hövel, Matthias Gehrke","doi":"10.15611/aoe.2022.1.01","DOIUrl":"https://doi.org/10.15611/aoe.2022.1.01","url":null,"abstract":"Explaining and forecasting returns and other statistical moments of returns in the stock market have always been critical challenges. Recent studies postulate a relation between investor sentiment and future stock market returns. Supported by evidence from other countries, this study explores the statistical moments of stock returns in Germany and analyses to what extent an explanation can be found through investor sentiment. The recent COVID-19 induced market distortions provide an opportunity to investigate the suitability of predictive sentiment-based analyses. These are presented in this study and appear to be meaningful. The main concept behind the sentiment-based return explanation is built on the assumption that stock returns are linked to investor psychology. This theory often serves as an explanation for market movements that cannot be explained by fundamental data which are directly linked to stocks. However, the extraction of various sentiment proxies for further analysis in statistical models remains challenging. Problems occur because sentiment proxies do not have a constant influence and depend greatly on what currently drives the market. Furthermore, the correlation between sentiment indicators varies over time, especially in times of market distress. In this study, 73 sentiment indicators were examined in the aggregate with regard to the explainability of future stock market return distribution moments such as mean, variance, skewness, and kurtosis. This study examines 169 one-month periods from 2006 to 2020 and shows a potential solution to these challenges by applying a neural network based on long short-term memory (LSTM) neurons. The authors were able to identify a good model fit and reasonable forecasting power, which seem to work particularly well in trend forecasting. The results can be valuable in the area of portfolio risk management.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67085054","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The malfunction of public authorities in the spatial planning system 公共权力机构在空间规划体系中的失灵

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.1.12

I. Foryś, M. Nowak

引用次数: 2

A generalized derivation of the Black-Scholes implied volatility through hyperbolic tangents 通过双曲切线推导Black-Scholes隐含波动率的广义推导

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.2.02

M. Mininni, G. Orlando, Giovanni Tagliatela

引用次数: 1

A decomposition of the total productivity factor into technical progress and technological efficiency – methodological possibilities 将总生产力因素分解为技术进步和技术效率——方法上的可能性

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.2.03

Nada Trivić, Bojana Todić

{"title":"A decomposition of the total productivity factor into technical progress and technological efficiency – methodological possibilities","authors":"Nada Trivić, Bojana Todić","doi":"10.15611/aoe.2022.2.03","DOIUrl":"https://doi.org/10.15611/aoe.2022.2.03","url":null,"abstract":"Total productivity as the basis for measuring economic efficiency is the initial presumption of this paper, and it is derived from the fact that it has a multiple importance of growing productivity, as an expression of production efficiency. The complex phenomenon of total productivity of factors is sometimes approached too simplistically, and even incorrectly. Productivity is treated as an isolated phenomenon, regardless of the numerous and various factors that condition it and the effects it has on other economic categories. The basis of the theoretical-methodological approach proposed in this paper, was the transcendental logarithmic production function (translog), as a clear interdependence between the maximum output vector and the production factor vector. The paper discusses the methodological basis for decomposition of total productivity growth on technical progress and technological efficiency, and a specification of the deterministic marginal production function. Adequate decomposition enables the more precise identification of the causes of lags in productivity growth. The results of the empirical analysis, through appropriate categorisation, are useful in conducting economic policy because they indicate the direction of activities with the aim of increasing total productivity.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67085290","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Does a trade surplus raise the exchange rate exposure? A perspective on Sino-US relations 贸易顺差会增加汇率风险吗?中美关系透视

IF 0.5 4区经济学

Argumenta Oeconomica Pub Date : 2022-01-01 DOI: 10.15611/aoe.2022.2.09

Chiwei Su, R. Tao, Muhammad Umar, Shiyun. Huang

{"title":"Does a trade surplus raise the exchange rate exposure? A perspective on Sino-US relations","authors":"Chiwei Su, R. Tao, Muhammad Umar, Shiyun. Huang","doi":"10.15611/aoe.2022.2.09","DOIUrl":"https://doi.org/10.15611/aoe.2022.2.09","url":null,"abstract":"This research examines dynamic causality between trade surplus (TS) and exchange rate exposure (ERE), utilizing the bootstrap sub-sample rolling window test. The empirical findings indicate that there is the time-varying bidirectional causality in TS and ERE within certain sub-periods. Specifically, ERE manifests both positive and negative influences on TS. In turn, TS has a positive effect on ERE which proves the export-oriented model proposed by Bodnar et al. (2002). Furthermore, due to the complex changes in Sino-US trade policies during the trade war, ERE is still stimulated under the overall downward trend of TS. This means that the widening TS can inevitably increase ERE, which may cause more trade frictions with the US. By studying the time-varying relation between these two variables, investors can reasonably allocate assets according to the changes of TS and avoid losses caused by market panic. Policy-makers could restrict the abnormal flow of international capital and promote multilateral trade cooperation, especially in times of structural economic change, to reduce trade friction and maintain a relatively stable ERE level.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67085489","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0