Research in Economics最新文献_第3页

An inquiry into the causes of income differences among high-income countries 探究高收入国家之间收入差异的原因

IF 1.2

Research in Economics Pub Date : 2024-10-10 DOI: 10.1016/j.rie.2024.101006

Jayadevan CM, Nam Trung Hoang, Subba Reddy Yarram

引用次数: 0

The macroeconomic effects of productivity shocks: Predictions of conventional business cycle models are not always incompatible with SSA economies 生产力冲击对宏观经济的影响：传统商业周期模型的预测并非总是与撒哈拉以南非洲经济体不相容

IF 1.2

Research in Economics Pub Date : 2024-10-10 DOI: 10.1016/j.rie.2024.101012

Emmanuel Ameyaw

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引用次数: 0

Consumption and the permanent income of households 家庭消费和永久收入

IF 1.2

Research in Economics Pub Date : 2024-10-09 DOI: 10.1016/j.rie.2024.101011

Roni Frish

引用次数: 0

Shareholder voting and efficient corporate decision-making 股东投票和高效的公司决策

IF 1.2

Research in Economics Pub Date : 2024-10-09 DOI: 10.1016/j.rie.2024.101010

Kyounghun Lee, Frederick Dongchuhl Oh

引用次数: 0

Linking the BOPC growth model with foreign debt dynamics to goods and labour markets: A BOP-IXSM-Okun model 将 BOPC 增长模型与商品和劳动力市场的外债动态联系起来：BOP-IXSM-Okun 模型

IF 1.2

Research in Economics Pub Date : 2024-10-05 DOI: 10.1016/j.rie.2024.101007

Thomas H.W. Ziesemer

{"title":"Linking the BOPC growth model with foreign debt dynamics to goods and labour markets: A BOP-IXSM-Okun model","authors":"Thomas H.W. Ziesemer","doi":"10.1016/j.rie.2024.101007","DOIUrl":"10.1016/j.rie.2024.101007","url":null,"abstract":"<div><div>We link a BOPC growth model to the goods market, foreign debt dynamics, and Okun's law. A new condition for getting the Thirlwall effect of world GDP growth on domestic growth is that investment and export shares of GDP should react less to an increase in the domestic growth rate than savings and import shares. If this condition holds, the Thirlwall effect is present for the equilibrium point of stable and unstable debt/GDP dynamics and for positive or negative reactions of the current account to domestic growth. Okun's law translates the effect on the domestic GDP growth rate to a change of the unemployment rate. Under unstable debt/GDP dynamics, the change of world GDP growth may turn around the direction of the debt/GDP dynamics, a second important foreign growth effect. Estimations support the specification of the theoretical model and lead to simulations of the Thirlwall effect, terms of trade and interest rate shocks on output growth. Profit maximizing bank consortia set interest rates below growth rates ensuring stable debt dynamics in the presence of an interior maximum. Conditions for an interior maximum are empirically violated for Brazil indicating that banks would have to change the economy strongly. A crisis can be less likely through a jump into a steady state for the debt/GDP ratio; unstable, increasing debt/GDP processes through high interest rates cannot be ruled out though and may lead to crises unless the empirics of the stability conditions gets more favourable and leads the country-bank model into a stable steady state or out of indebtedness.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"78 4","pages":"Article 101007"},"PeriodicalIF":1.2,"publicationDate":"2024-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142424779","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

Beyond banks: Navigating the shift to peer-to-peer lending for small enterprises 超越银行：引导小企业向点对点贷款转变

IF 1.2

Research in Economics Pub Date : 2024-09-20 DOI: 10.1016/j.rie.2024.101002

Alina Malkova , Alex Weng

引用次数: 0

Stronger Patent Regime, Innovation and Scientist Mobility 加强专利制度、创新和科学家流动性

IF 1.2

Research in Economics Pub Date : 2024-09-18 DOI: 10.1016/j.rie.2024.101004

Madhuparna Ganguly

引用次数: 0

Reading between the lines: Quantitative text analysis of banking crises 字里行间的解读：银行危机的定量文本分析

IF 1.2

Research in Economics Pub Date : 2024-09-12 DOI: 10.1016/j.rie.2024.101000

Emile du Plessis

{"title":"Reading between the lines: Quantitative text analysis of banking crises","authors":"Emile du Plessis","doi":"10.1016/j.rie.2024.101000","DOIUrl":"10.1016/j.rie.2024.101000","url":null,"abstract":"<div><p>Digital transformation entails new sources of economic information in the form of rich texts, which can provide a deeper understanding of banking sector developments. With textual data available and accessible in digital format, this paper develops three distinct indices based on a large corpus of economic news articles to forecast banking crises. The methodological approaches feature the identification of key topics within a large volume of texts. A Banking Crisis Lexicon Index and Sentiment Index are developed through analysing a vast number of economic articles to detect the evolution of banking sector discourse. Findings from Granger causality highlight leading indicator status of the Banking Crisis Lexicon Index, signalling a change in the banking crisis series four years in advance, accentuated by innovations from a VAR analysis using Cholesky decomposition, and substantiated by receiver operating characteristics with under the curve estimates suggesting robust predictive performance strength above 70%, on a global scale, for developed economies and crisis countries. Serving as benchmark, the Sentiment Index constitutes a concurrent indicator, which moves in tandem with the crisis series, thereby providing more granular information on banking developments. A combined Banking Crisis Lexicon and Sentiment Index exhibits solid forecasting performance, which is comparable to the Banking Crisis Lexicon Index, yet with shorter lead time. In a robustness test, German-based indices outperform those based on English reporting in a predominantly German speaking region, highlighting the value of textual analysis in the vernacular. In reading between the lines, this paper contributes to the literature on quantitative analyses of textual data in constructing text-based banking crisis indicators to support a preemptive policy response.</p></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"78 4","pages":"Article 101000"},"PeriodicalIF":1.2,"publicationDate":"2024-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1090944324000644/pdfft?md5=97ee95e5b22414f4f6e4219a20c3aabd&pid=1-s2.0-S1090944324000644-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142274628","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

CBDC and banking stability: Modeling cascading effects on reserves, lending, and liquidity CBDC 与银行业稳定性：模拟对储备金、贷款和流动性的连带效应

IF 1.2

Research in Economics Pub Date : 2024-09-12 DOI: 10.1016/j.rie.2024.101005

Gilles Brice M'bakob , Anatole Tchounga

{"title":"CBDC and banking stability: Modeling cascading effects on reserves, lending, and liquidity","authors":"Gilles Brice M'bakob , Anatole Tchounga","doi":"10.1016/j.rie.2024.101005","DOIUrl":"10.1016/j.rie.2024.101005","url":null,"abstract":"<div><p>This research uses a dynamic modelling approach to design and simulate an equilibrium model of the interaction between CBDC issuance, deposits and bank reserves. With many central banks announcing their intention to issue central bank digital currencies (CBDCs), it has become imperative to rigorously analyse the potential impact of these issues on the banking system. This study aims to examine the implications of the introduction of CBDCs within a robust analytical framework, in order to inform policymakers and financial sector players about the possible consequences of this major monetary innovation. The study results show that overconfidence of economic agents towards CBDCs can drastically reduce bank reserves, thereby limiting the lending capacity of banks and creating liquidity problems. Similarly, increasing reserve requirements in fiat currency for each unit of CBDC issued can constrain bank reserves and restrict loans and deposits. Additionally, a rise in interest rates on CBDC-related loans can discourage borrowers, thereby reducing loan demand and affecting banking activity. An increase in interest rates leads to a decrease in the quantity of CBDC in circulation, an increase in bank reserves and deposits in CBDC, and a decrease in bank loans. Monitoring the level of confidence of economic agents towards CBDCs is crucial to avoid excessive speculation.</p></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"78 4","pages":"Article 101005"},"PeriodicalIF":1.2,"publicationDate":"2024-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142274627","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

Private ownership in monopolistic competition models 垄断竞争模式中的私有制

IF 1.2

Research in Economics Pub Date : 2024-09-11 DOI: 10.1016/j.rie.2024.101003

Vincent Boitier

引用次数: 0