Economic Systems最新文献_第10页

Effects of option incentive compensation on corporate innovation: The case of China 期权激励薪酬对企业创新的影响：中国案例

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101171

Rui Cheng , Bart Frijns , Hyeongjun Kim , Doojin Ryu

引用次数: 0

The impact of monetary policy shocks on net worth and consumption across races in the United States 货币政策冲击对美国不同种族净资产和消费的影响

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101178

Juan-Francisco Albert , Nerea Gómez-Fernández

{"title":"The impact of monetary policy shocks on net worth and consumption across races in the United States","authors":"Juan-Francisco Albert , Nerea Gómez-Fernández","doi":"10.1016/j.ecosys.2023.101178","DOIUrl":"10.1016/j.ecosys.2023.101178","url":null,"abstract":"<div><p>The aim of this paper is to determine whether monetary policy has a heterogeneous impact on net worth and consumption across races in the United States by applying several empirical methodologies and combining macro and micro data. The results suggest that an expansionary monetary shock increases the race gap in the short run in terms of net worth and that this is explained by differences in portfolio composition, especially between black and white households. Consequently, the heterogeneous wealth effect among these racial groups means that white households retain a higher elasticity than some minorities with respect to different forms of consumption as a consequence of a monetary policy shock. Although the heterogeneous effects of monetary policy across race are primarily explained by the different observable characteristics of households, a non-negligible part of this heterogeneity could be explained by the credit constraints faced by racial minorities that determine the composition of their wealth.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"48 1","pages":"Article 101178"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0939362523001176/pdfft?md5=b2723822f26129d943c01aaddc847e60&pid=1-s2.0-S0939362523001176-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139065927","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

Evolving efficiency of the BRICS markets 金砖五国市场的效率不断提高

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101166

Maria V. Kulikova , David R. Taylor , Gennady Yu. Kulikov

引用次数: 0

Exchange rates and the speed of economic recovery: The role of financial development 汇率与经济复苏速度：金融发展的作用

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101165

Boris Fisera

{"title":"Exchange rates and the speed of economic recovery: The role of financial development","authors":"Boris Fisera","doi":"10.1016/j.ecosys.2023.101165","DOIUrl":"10.1016/j.ecosys.2023.101165","url":null,"abstract":"<div><p>We study the influence of the exchange rate on the speed of economic recovery in a sample of 67 developed and developing economies over the years 1989–2019. First, using a cross-sectional sample of 341 economic recoveries, we study the effect of nominal depreciation and real undervaluation on the length of economic recovery. Our findings indicate that a small nominal depreciation, as well as a real undervaluation of the domestic currency, increases the speed of economic recovery. However, this effect is small in size. Second, we use an interacted panel VAR (IPVAR) model to investigate the effect of real undervaluation on the speed of economic recovery after an external shock. While we once again find evidence that an undervalued domestic currency increases the speed of economic recovery, its positive effect is limited in size. Furthermore, we also explore the role of financial development in influencing the effectiveness of an undervalued domestic currency in stimulating economic recovery. We find that a higher level of financial development limits the negative effect of an overvalued currency on the speed of economic recovery, but does not influence the effect of an undervalued currency on economic recovery.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"48 1","pages":"Article 101165"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138568913","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

Individualism, economic freedom, and the development of the shadow economy 个人主义、经济自由和影子经济的发展

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101168

James W. Saunoris

引用次数: 0

Risk-adjusted efficiency and innovation: an examination of systematic difference and convergence among BRIC banks 风险调整效率与创新：金砖四国银行的系统性差异与趋同性研究

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101167

Thanh Nguyen , Son Nghiem , Abhishek Singh Bhati

{"title":"Risk-adjusted efficiency and innovation: an examination of systematic difference and convergence among BRIC banks","authors":"Thanh Nguyen , Son Nghiem , Abhishek Singh Bhati","doi":"10.1016/j.ecosys.2023.101167","DOIUrl":"10.1016/j.ecosys.2023.101167","url":null,"abstract":"<div><p>We argue that technological progress and technology diffusion is improving innovation the banking industry, leading to a potential steady-state equilibrium in operational efficiency and innovation across banks with similar characteristics. Using the latest meta-frontier method, this study examined BRIC banks during the period from 2000 to 2020. We found that Indian and Brazilian banks are more innovative in reducing costs, whereas Indian and Chinese banks are more cost efficient. Chinese, Russian, Indian, and Brazilian banks rank first to fourth in profit efficiency and profit-making innovation, respectively. Risk-taking boosts group cost and profit efficiencies and profit-making innovation but reduces cost-reducing innovation in each country. BRIC banks diverged in innovation during the analysis period but slowly converged after the 2008 crisis. Reform policies, adoption of production technology, formulating regulations and investing in human capital and technologies are crucial for less efficient and innovative banks to catch-up with frontier banks.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"48 1","pages":"Article 101167"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0939362523001061/pdfft?md5=81d0887eb0479166353d5390f4e09de7&pid=1-s2.0-S0939362523001061-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139026331","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

Reviewer acknowledgement 审稿人致谢

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/S0939-3625(24)00029-3

引用次数: 0

Intergenerational occupational mobility in Latin American economies: An empirical approach 拉丁美洲经济体的代际职业流动:一个实证方法

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101154

Ömer Tuğsal Doruk , Francesco Pastore , Hasan Bilgehan Yavuz

引用次数: 0

Macroeconomic fundamentals and attention: What drives european consumers’ inflation expectations? 宏观经济基本面和关注度：是什么驱动了欧洲消费者的通胀预期？

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101153

Zuzana Kučerová , Daniel Pakši , Vojtěch Koňařík

引用次数: 0

Do vertical ecological compensation policies promote green economic development: A case study of the transfer payments policy for China’s National Key Ecological Function Zones 垂直生态补偿政策促进绿色经济发展——以中国国家重点生态功能区转移支付政策为例

IF 3.1 2区经济学

Economic Systems Pub Date : 2023-12-01 DOI: 10.1016/j.ecosys.2023.101125

Qiuyue Yang

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引用次数: 1