Journal of Economic Surveys最新文献_第2页

Feeling the heat: Extreme temperatures and housing prices in China 感受高温：中国的极端气温与房价

IF 5.9 2区经济学

Journal of Economic Surveys Pub Date : 2024-07-10 DOI: 10.1111/joes.12651

Yankun Kang, Dongxiao Niu, Jie Song, Weizeng Sun

{"title":"Feeling the heat: Extreme temperatures and housing prices in China","authors":"Yankun Kang, Dongxiao Niu, Jie Song, Weizeng Sun","doi":"10.1111/joes.12651","DOIUrl":"10.1111/joes.12651","url":null,"abstract":"Climate change-driven extreme heat events pose a major threat to urban expansion globally. This study evaluates the relationship between extreme heat and housing prices utilizing panel data from Chinese cities between 2009 and 2019. Our findings indicate a significant negative correlation between housing prices and extreme temperatures. Specifically, we observe a 0.1% reduction in housing prices for each additional day per year with temperatures surpassing 35°C. This research evaluates two primary mechanisms underpinning this finding. Firstly, our analysis demonstrates a decline in labor inflows to cities experiencing extreme heat, with a particularly significant effect on the influx of high-skilled workers. In addition, existing residents in these hotter urban environments exhibit reduced home-buying intentions and reduced proclivity for long-term residency, coupled with higher living costs. Secondly, our findings indicate that extreme heat acts as a deterrent to firm entry, thereby further suppressing housing demand. This study contributes valuable empirical insights into the capitalization of climate risk in housing markets, with a specific emphasis on the effect of extreme heat. Moreover, it highlights the urgent necessity for the development and implementation of sustainable adaptation strategies to reduce the negative effects of evolving climatic conditions.","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"38 5","pages":"1956-1982"},"PeriodicalIF":5.9,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141659401","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

Climate change in Europe and international portfolio allocation: Micro-level evidence from global funds 欧洲气候变化与国际投资组合分配：来自全球基金的微观证据

IF 5.9 2区经济学

Journal of Economic Surveys Pub Date : 2024-06-21 DOI: 10.1111/joes.12649

Xiao Li, Xingyu Lu, Wenjing Xie

{"title":"Climate change in Europe and international portfolio allocation: Micro-level evidence from global funds","authors":"Xiao Li, Xingyu Lu, Wenjing Xie","doi":"10.1111/joes.12649","DOIUrl":"10.1111/joes.12649","url":null,"abstract":"This paper investigates the impact of climate change on international portfolio allocations of global funds. We select the heat wave disasters in Europe in 2018 as a quasi-natural experiment and employ the DID framework. Our findings indicate that global funds would reduce their holdings in the affected country after heat wave disasters. The congestion of inland waterways and electricity shortages during the heatwave have resulted in production delays, thereby transmit risks to the financial sector. Countries with higher foreign exposure experience a larger scale of capital outflow after heat waves; while countries with great institutional quality and resilience demonstrate greater capacity to withstand heat wave disasters. The funds with lower risk tolerance are more sensitive to climate change. Additionally, domestic funds will remain in their home countries post-heatwave when foreign capitals flow away. These findings have important policy implications, and countries with high climate risks should carefully monitor the capital flows. In order to reduce the impact of climate risks, it is crucial to improve the quality of institution and efficiency of government as well as to implement effective disaster prevention and mitigation measures.","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"38 5","pages":"1928-1955"},"PeriodicalIF":5.9,"publicationDate":"2024-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141502259","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

Within- and across-province agglomeration of LEED certifications in China 中国 LEED 认证的省内和跨省集聚效应

IF 5.9 2区经济学

Journal of Economic Surveys Pub Date : 2024-06-07 DOI: 10.1111/joes.12648

Guanzu Ding, Wei Lin, Yanfei Wang

引用次数: 0

Global poverty: A Review of Measurement, Levels, and Trends in a Historical Perspective 全球贫困：从历史角度回顾贫困的衡量、水平和趋势

IF 5.9 2区经济学

Journal of Economic Surveys Pub Date : 2024-06-07 DOI: 10.1111/joes.12644

Michail Moatsos

{"title":"Global poverty: A Review of Measurement, Levels, and Trends in a Historical Perspective","authors":"Michail Moatsos","doi":"10.1111/joes.12644","DOIUrl":"10.1111/joes.12644","url":null,"abstract":"Global poverty both in terms of conceptualization and measurement has been the point of a long-standing debate for at least the last 20 years. The debate mostly evolves around the appropriateness of the dominant dollar-a-day approach—conceptualized and popularized by the World Bank since the early 1990s—and the quest for (better) alternatives. The most prominent alternatives are the cost of basic needs method and the capabilities/multidimensional. However, the later lacks medium and long run global reach due to data limitations. In addition, global poverty estimates across the literature resist meaningful direct comparison due to the substantial methodological differences between each attempt, even using the same broad methodological framework. More welfare demanding definitions of cost of basic needs implementation, building upon the EAT-Lancet healthy reference diet, indicate that global poverty has reduced at a much lower rate, and its estimates diverge at an increasing rate from the dollar-a-day definition of extreme poverty. This review compares the two main approaches on the definition and measurement of global poverty and contrasts available results with a focus in the long run implementations.","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"39 2","pages":"706-766"},"PeriodicalIF":5.9,"publicationDate":"2024-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joes.12644","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141373729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does global warming worsen poverty and inequality? An updated review 全球变暖会加剧贫困和不平等吗？最新评论

IF 5.9 2区经济学

Journal of Economic Surveys Pub Date : 2024-06-03 DOI: 10.1111/joes.12636

Hai-Anh H. Dang, Stephane Hallegatte, Trong-Anh Trinh

引用次数: 0

Carbon market integration, productivity, and welfare: A quantitative analysis 碳市场一体化、生产力和福利：定量分析

IF 5.9 2区经济学

Journal of Economic Surveys Pub Date : 2024-05-30 DOI: 10.1111/joes.12637

Yuying Liu, Yongjin Wang, Xiaofan Li

{"title":"Carbon market integration, productivity, and welfare: A quantitative analysis","authors":"Yuying Liu, Yongjin Wang, Xiaofan Li","doi":"10.1111/joes.12637","DOIUrl":"https://doi.org/10.1111/joes.12637","url":null,"abstract":"China's carbon market is far from being integrated. This paper studies how carbon emissions reduction and carbon market integration affect China's aggregate productivity and welfare via a quantitative spatial general equilibrium model with <math>\u0000 <semantics>\u0000 <msub>\u0000 <mi>CO</mi>\u0000 <mn>2</mn>\u0000 </msub>\u0000 <annotation>${rm CO}_2$</annotation>\u0000 </semantics></math> as a by-product of production. We find that (1) were carbon emission rights to be allowed to be traded across regions, (i) if there is no technological growth, China's overall productivity and real GDP would increase by 10.26%, and 27.19% respectively, and welfare would decline slightly by 0.92%; (ii) if the technology grows at the present growth rate, China's total output, real GDP and welfare would increase by 9.97, 38.57, and 7.79%, respectively; (2) were nine regional carbon trading markets integrated, China's overall productivity, real GDP and welfare would increase by 4.35, 29.17, and 7.75%, respectively. Carbon market integration enables China to achieve economic development at a lower <math>\u0000 <semantics>\u0000 <msub>\u0000 <mi>CO</mi>\u0000 <mn>2</mn>\u0000 </msub>\u0000 <annotation>${rm CO}_2$</annotation>\u0000 </semantics></math> cost.","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"38 5","pages":"1819-1845"},"PeriodicalIF":5.9,"publicationDate":"2024-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142596307","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

Water rights trading and corporate productivity: Evidence from a quasi-natural experiment of China's pilot policy 水权交易与企业生产力：来自中国试点政策准自然实验的证据

IF 5.9 2区经济学

Journal of Economic Surveys Pub Date : 2024-05-30 DOI: 10.1111/joes.12646

Duan Liu, Nizhou Yu, Hong Wan, Jinghua Ou, Shujie Yao, Qiuhong Wang

引用次数: 0

The behavioral, economic, and political impact of the Internet and social media: Empirical challenges and approaches 互联网和社交媒体对行为、经济和政治的影响：实证挑战与方法

IF 5.3 2区经济学

Journal of Economic Surveys Pub Date : 2024-05-21 DOI: 10.1111/joes.12629

Fabio Sabatini

引用次数: 0

Determinants of stock market participation 参与股市的决定因素

IF 5.3 2区经济学

Journal of Economic Surveys Pub Date : 2024-05-11 DOI: 10.1111/joes.12634

Lukas Menkhoff, Jannis Westermann

引用次数: 0

The effect of bubbles on production: The state of the literature 泡沫对生产的影响：文献现状

IF 5.3 2区经济学

Journal of Economic Surveys Pub Date : 2024-05-07 DOI: 10.1111/joes.12635

Cristhian Fernández‐González, Luis A. Hierro, Helena Domínguez‐Torres

{"title":"The effect of bubbles on production: The state of the literature","authors":"Cristhian Fernández‐González, Luis A. Hierro, Helena Domínguez‐Torres","doi":"10.1111/joes.12635","DOIUrl":"https://doi.org/10.1111/joes.12635","url":null,"abstract":"In this paper, a comprehensive review is carried out on the strand of the literature related to the effects of bubbles on production, which includes the scarce empirical literature. The content is structured according to the bubble phase, since a major part of the literature considers that during the boom, there can be a crowding‐in effect that can even offset the crowding‐out effect derived from the bursting of the bubble. This possibility is due to the influence of two opposing mechanisms: a substitution effect derived from the possible diversion of resources previously allocated to productive investments, and an income effect derived from the fact that investors have more resources obtained from the sale of the bubble assets and from the role of these assets as collateral in loan operations. Studies also show the negative effect derived from the involvement of banks in bubbles. In this paper, both the results of the research and the main methodological framework are reviewed, thereby identifying as a gap in the literature to be considered for future research: the scarcity of empirical research, of studies that include demand factors, of papers that address bubbles in nonfinancial and nonhousing markets, and in undeveloped and emerging countries.","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"19 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140942361","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