Economic Modelling最新文献_第10页

How does ESG affect government procurement in countries where ESG systems are established from the top down? 在自上而下建立ESG制度的国家，ESG如何影响政府采购？

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-03 DOI: 10.1016/j.econmod.2025.107024

Wenna Wang , Zhen Yang , Jin Chen , Jingjiang Liu

{"title":"How does ESG affect government procurement in countries where ESG systems are established from the top down?","authors":"Wenna Wang , Zhen Yang , Jin Chen , Jingjiang Liu","doi":"10.1016/j.econmod.2025.107024","DOIUrl":"10.1016/j.econmod.2025.107024","url":null,"abstract":"<div><div>Implementing Environmental, Social, and Governance (ESG) strategies enhances enterprises' competitive advantage, especially in emerging economies with top-down ESG frameworks. While extensive research exists on ESG, its impact on securing government procurement contracts in these economies remains insufficiently explored. Using data from A-share listed firms in China, an emerging economy, from 2010 to 2022, along with text analysis to obtain government procurement contract data, we examine how enterprise ESG influences the acquisition of government procurement contracts. We demonstrate that enterprises with better ESG can receive more government procurement contracts. High product quality and adherence to institutional legitimacy are key mechanisms driving these outcomes. The effect is particularly stronger among firms in regions with lower marketization levels, firms not benefiting from industrial policy support, and non-state-owned enterprises. Our research highlights the critical importance of ESG strategies in strengthening firms’ competitive positions within the government procurement market.</div></div>","PeriodicalId":48419,"journal":{"name":"Economic Modelling","volume":"146 ","pages":"Article 107024"},"PeriodicalIF":4.2,"publicationDate":"2025-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143350644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Impact of the Yangtze River economic belt on high-quality economic development in China: Evidence from a spatial difference-in-differences model 长江经济带对中国经济高质量发展的影响：基于空间差中差模型的证据

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-01 DOI: 10.1016/j.econmod.2024.106962

Yu He , Xiaoqi Zhang , Huan Zheng

引用次数: 0

U.S. monetary policy spillovers to emerging market countries: Responses to cost-push and natural rate shocks 美国货币政策对新兴市场国家的溢出效应：对成本推动和自然利率冲击的反应

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-01 DOI: 10.1016/j.econmod.2024.106971

Penghao Cheng, Yu You

{"title":"U.S. monetary policy spillovers to emerging market countries: Responses to cost-push and natural rate shocks","authors":"Penghao Cheng, Yu You","doi":"10.1016/j.econmod.2024.106971","DOIUrl":"10.1016/j.econmod.2024.106971","url":null,"abstract":"<div><div>The spillover effects of U.S. monetary policy on emerging markets can vary depending on the specific shock. The natural interest rate serves as a crucial benchmark for assessing the stance of monetary policy, for which rate changes can be very impactful. Given the rising frequency and magnitude of structural shocks in the U.S. in recent years, further analysis of how U.S. interest rate changes, particularly under natural rate shocks, affect emerging market economies is essential. Using a new Keynesian small open economy model, we find that under cost-push shocks, the exchange rate depreciates (USD weakens), whereas, under natural rate shocks, it appreciates (USD strengthens). These differences are amplified through domestic bonds (finance channel) and terms of trade (trade channel). Empirical Bayesian local projection results confirm the importance of the exchange-rate channel, with strong evidence supporting finance and weaker evidence for trade channels, likely due to emerging economies’ financial vulnerabilities. We also find that different structural drivers behind natural rate shocks affect the spillover. While addressing external shocks is important, placing excessive focus on this alone is not an effective strategy. Instead, central banks in emerging market economies should carefully balance their responses to external pressures without compromising the autonomy of domestic monetary policy.</div></div>","PeriodicalId":48419,"journal":{"name":"Economic Modelling","volume":"143 ","pages":"Article 106971"},"PeriodicalIF":4.2,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143138855","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Time-varying sources of fluctuations in global inflation 全球通货膨胀波动的时变来源

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-01 DOI: 10.1016/j.econmod.2024.106970

Won Joong Kim , Juyoung Ko , Won Soon Kwon , Chunyan Piao

引用次数: 0

Market-oriented reforms and wealth inequality in China 中国的市场化改革与财富不平等

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-01 DOI: 10.1016/j.econmod.2024.106959

Chuan Wang , Mingjin Zhang

引用次数: 0

Immigration from a terror-prone nation: Destination nation's optimal immigration and counterterrorism policies 来自恐怖主义易发国家的移民：目的国的最佳移民与反恐政策

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-01 DOI: 10.1016/j.econmod.2024.106972

Subhayu Bandyopadhyay , Khusrav Gaibulloev , Todd Sandler

{"title":"Immigration from a terror-prone nation: Destination nation's optimal immigration and counterterrorism policies","authors":"Subhayu Bandyopadhyay , Khusrav Gaibulloev , Todd Sandler","doi":"10.1016/j.econmod.2024.106972","DOIUrl":"10.1016/j.econmod.2024.106972","url":null,"abstract":"<div><div>The article presents a two-country model in which a destination country chooses its immigration quota and proactive counterterrorism measures in response to immigration from a terror-plagued country. A novel feature is to tie the optimizing quota and proactive choice to the consequences on the labor market. After the destination country fixes its two policies, immigrants decide between supplying labor or conducting terrorist attacks, which helps to determine equilibrium labor supply and wages. The analysis accounts for the marginal disutility of lost rights/freedoms stemming from stricter counterterror measures as well as the inherent radicalization of migrants. Comparative statics involve changes to those two parameters. For example, an enhanced importance attached to lost rights is shown to limit immigration quotas and counterterrorism actions. In contrast, increased source-country radicalization reduces immigration quotas but has an ambiguous effect on optimal proactive measures. Extensions involve defensive policies and destination-country citizens’ radicalization.</div></div>","PeriodicalId":48419,"journal":{"name":"Economic Modelling","volume":"143 ","pages":"Article 106972"},"PeriodicalIF":4.2,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143138797","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Estimation and forecast of carbon emission market volatility based on model averaging method 基于模型平均法的碳排放市场波动估计与预测

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-01 DOI: 10.1016/j.econmod.2024.106976

Nianling Wang , Qianchao Wang , Yong Li

引用次数: 0

Modeling and evaluating the heterogeneous impacts of the COVID-19 on US unemployment 模拟和评估COVID-19对美国失业的异质性影响

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-01 DOI: 10.1016/j.econmod.2024.106978

Malak Kandoussi , François Langot

引用次数: 0

Heterogeneity in the effect of green financing constraints on labor investment efficiency: A causal forest approach 绿色融资约束对劳动投资效率影响的异质性：一个因果森林方法

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-01 DOI: 10.1016/j.econmod.2024.106977

Tingwen Liu , Jie Liu , Tzu-Chang Forrest Cheng

{"title":"Heterogeneity in the effect of green financing constraints on labor investment efficiency: A causal forest approach","authors":"Tingwen Liu , Jie Liu , Tzu-Chang Forrest Cheng","doi":"10.1016/j.econmod.2024.106977","DOIUrl":"10.1016/j.econmod.2024.106977","url":null,"abstract":"<div><div>This study evaluates the heterogeneous effects of green credit policy on labor investment efficiency. We analyze Chinese listed firms from 2005 to 2020 using the difference-in-differences method and causal forest approach based on the introduction of the 2012 Green Credit Guidelines. Our results show that this policy improves labor investment efficiency in high-polluting firms by reducing over-investment. Causal forest analyses reveal nonlinear and heterogeneous treatment effects, indicating that firms with lower market capitalization, lower liquidity, and higher leverage experience efficiency declines due to financial constraints. Faced with severe agency problems, state-owned enterprises and firms with high employment variability and abnormal investment achieve significant efficiency gains. Finally, despite lower innovation among high-polluting firms following policy implementation, the increased labor investment efficiency mitigates this impact. Overall, the heterogeneity analysis using causal forests highlights the groups most significantly affected by the policy.</div></div>","PeriodicalId":48419,"journal":{"name":"Economic Modelling","volume":"143 ","pages":"Article 106977"},"PeriodicalIF":4.2,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143138807","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Research bubbles 研究泡沫

IF 4.2 2区经济学

Economic Modelling Pub Date : 2025-02-01 DOI: 10.1016/j.econmod.2024.106888

Hans Gersbach , Evgenij Komarov

引用次数: 0