EconomicaPub Date : 2023-11-15DOI: 10.1111/ecca.12504
Anders Akerman
{"title":"Market concentration and the relative demand for college-educated labour","authors":"Anders Akerman","doi":"10.1111/ecca.12504","DOIUrl":"https://doi.org/10.1111/ecca.12504","url":null,"abstract":"<p>If large firms employ relatively more educated workers, will an increase in market concentration increase income inequality by raising the relative demand for skill? I use Swedish employer–employee data from 1997–2016 and find a strong correlation between firm size and the share of college-educated (‘skilled’) workers. An increase in a sector's market concentration is correlated with a higher skilled wage premium and higher relative employment of skilled workers. This is due mainly to the reallocation of workers across firms. I demonstrate how these findings can be explained by a model of heterogeneous firms where productivity and skill intensity are positively correlated.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"91 361","pages":"292-319"},"PeriodicalIF":1.4,"publicationDate":"2023-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138491492","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
EconomicaPub Date : 2023-11-14DOI: 10.1111/ecca.12503
Francisco Queirós
{"title":"The real side of stock market exuberance: bubbles, output and productivity at the industry level","authors":"Francisco Queirós","doi":"10.1111/ecca.12503","DOIUrl":"10.1111/ecca.12503","url":null,"abstract":"<p>There has been a growing interest in the theory of rational bubbles. Recent theories predict that bubbles are expansionary, but differ in the underlying mechanisms. This paper provides empirical evidence that helps us to assess different theories, and documents four main findings: stock market overvaluation is associated with (i) faster output and input growth, (ii) declining total factor productivity (TFP) growth, (iii) a greater contribution of labour and a declining contribution of TFP for output growth, (iv) an increase in the number of firms. Overall, these findings suggest that bubbly expansions are driven by increased factor accumulation (in particular labour), and not from higher productivity growth.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"91 361","pages":"268-291"},"PeriodicalIF":1.4,"publicationDate":"2023-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecca.12503","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134991828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
EconomicaPub Date : 2023-11-02DOI: 10.1111/ecca.12501
Elena Gentili, Fabrizio Mazzonna
{"title":"What drives the substitutability between native and foreign workers? Evidence about the role of language","authors":"Elena Gentili, Fabrizio Mazzonna","doi":"10.1111/ecca.12501","DOIUrl":"10.1111/ecca.12501","url":null,"abstract":"<p>This paper investigates the role of language in determining the substitutability between foreign and native workers. Our identification strategy exploits the linguistic diversity of Switzerland, a country with three main official languages (German, French and Italian) shared by bordering countries. This makes the Swiss labour market very peculiar, since both immigrants and natives may (or may not) share the language spoken in the area of residence. We modify the standard nested-cell labour demand model to account for the linguistic background of native and immigrant workers. We provide evidence about the central role of language in determining the extent of the imperfect substitutability between native and foreign workers, and their differential specialization in communication-intensive jobs.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"91 361","pages":"210-237"},"PeriodicalIF":1.4,"publicationDate":"2023-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135874956","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
EconomicaPub Date : 2023-10-30DOI: 10.1111/ecca.12502
Pavel Chakraborty
{"title":"Bank ownership and firm performance","authors":"Pavel Chakraborty","doi":"10.1111/ecca.12502","DOIUrl":"10.1111/ecca.12502","url":null,"abstract":"<p>Does a bank's ownership matter for the performance of a firm to which it is connected, especially in the event of a crisis? I study this question through the effect of the 2008–9 crisis on Indian manufacturing firms to provide evidence on a new channel that can matter significantly for a firm's performance—bank ownership. I find that firms connected to private (domestic and foreign) banks earned around 10% and 25% less from sales and exports, respectively, during the crisis, as compared to firms having banking relationships with public-sector banks. This happened as private banks were affected differentially in terms of credit supply from the Central Bank and withdrawal of deposits. Firms connected to private banks also laid off more workers, and imported fewer capital goods. Finally, these effects are significant across the size distribution of the firms (except the smallest firms), for firms producing intermediates, and about 40% less for firms that belong to a business group.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"91 361","pages":"238-267"},"PeriodicalIF":1.4,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136068575","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
EconomicaPub Date : 2023-10-30DOI: 10.22202/economica.2023.v12.i1.6876
Eliza Eliza
{"title":"ANALYSIS OF E-MARKETING, SOCIAL MEDIA MARKETING, AND E-WOM ON CONSUMER PURCHASE DECISIONS","authors":"Eliza Eliza","doi":"10.22202/economica.2023.v12.i1.6876","DOIUrl":"https://doi.org/10.22202/economica.2023.v12.i1.6876","url":null,"abstract":"","PeriodicalId":48040,"journal":{"name":"Economica","volume":"11 1","pages":""},"PeriodicalIF":1.4,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139310070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
EconomicaPub Date : 2023-10-30DOI: 10.22202/economica.2023.v12.i1.6569
Ansofino Ansofino
{"title":"PRIORITY DETERMINATION FOR THE DEVELOPMENT OF THE WEST SUMATRA CREATIVE ECONOMY SUBSECTOR","authors":"Ansofino Ansofino","doi":"10.22202/economica.2023.v12.i1.6569","DOIUrl":"https://doi.org/10.22202/economica.2023.v12.i1.6569","url":null,"abstract":"","PeriodicalId":48040,"journal":{"name":"Economica","volume":"66 1","pages":""},"PeriodicalIF":1.4,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139309623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
EconomicaPub Date : 2023-10-30DOI: 10.22202/economica.2023.v12.i1.6872
Prince Charles Heston Runtunuwu
{"title":"THE IMPACT OF LOCAL GOVERNMENT'S FINANCIAL PERFORMANCE ON ECONOMIC GROWTH, UNEMPLOYMENT, POVERTY","authors":"Prince Charles Heston Runtunuwu","doi":"10.22202/economica.2023.v12.i1.6872","DOIUrl":"https://doi.org/10.22202/economica.2023.v12.i1.6872","url":null,"abstract":"","PeriodicalId":48040,"journal":{"name":"Economica","volume":"5 1","pages":""},"PeriodicalIF":1.4,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139309906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
EconomicaPub Date : 2023-10-30DOI: 10.22202/economica.2023.v13.i1.6971
Joni Putra
{"title":"THE EFFECT OF CORPORATE GOVERNANCE ON CAPITAL STRUCTURE IN COMPANIES LISTED ON THE IDX","authors":"Joni Putra","doi":"10.22202/economica.2023.v13.i1.6971","DOIUrl":"https://doi.org/10.22202/economica.2023.v13.i1.6971","url":null,"abstract":"","PeriodicalId":48040,"journal":{"name":"Economica","volume":"17 1","pages":""},"PeriodicalIF":1.4,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139310794","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
EconomicaPub Date : 2023-10-30DOI: 10.22202/economica.2023.v13.i1.6569
Putri Meliza Sari
{"title":"Priority Determination for the Development of the West Sumatra Creative Economy Subsector with the GAIA Visual Promethee Method","authors":"Putri Meliza Sari","doi":"10.22202/economica.2023.v13.i1.6569","DOIUrl":"https://doi.org/10.22202/economica.2023.v13.i1.6569","url":null,"abstract":"","PeriodicalId":48040,"journal":{"name":"Economica","volume":"43 1","pages":""},"PeriodicalIF":1.4,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139309917","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}