发布求助
文献互助 智能选刊 最新文献

Economic Systems最新文献

筛选
英文 中文
Macroprudential policy effectiveness and interaction with monetary policy: Lessons from debt service-to-income cap implementation in Kazakhstan 宏观审慎政策的有效性以及与货币政策的互动：哈萨克斯坦实施偿债与收入比率上限的经验教训
IF 3.1 2区 经济学
Economic Systems Pub Date : 2024-08-16 DOI: 10.1016/j.ecosys.2024.101254
Zhandos Ybrayev, Azamat Baizakov, Erlan Kailrullayev, Dana Mukhambetzhanova
{"title":"Macroprudential policy effectiveness and interaction with monetary policy: Lessons from debt service-to-income cap implementation in Kazakhstan","authors":"Zhandos Ybrayev, Azamat Baizakov, Erlan Kailrullayev, Dana Mukhambetzhanova","doi":"10.1016/j.ecosys.2024.101254","DOIUrl":"https://doi.org/10.1016/j.ecosys.2024.101254","url":null,"abstract":"We take advantage of the early adoption of the debt-service-to-income cap (DSTI) measure in Kazakhstan, as well as available granular information from the local credit registry to study the effects of macroprudential instruments on core financial stability parameters. Our results show that implementation of a DSTI cap of 50 % leads to around a 9 % decrease in 12 months in the amount of outstanding debt on average for the range of credits originated just around the introduction of the DSTI cap. We find that DSTI cap implementation decreased the probability of delinquency rates of loans by about 20 % in 12 months on average compared to credits granted before the realization of the DSTI cap. We provide evidence on the importance of loan size heterogeneity across time when estimating the impact of macro-prudential intervention, which is partly overlooked in the existing literature. Finally, our results suggest that macroprudential and monetary policy tools can be complementary depending on the specific business cycle developments.","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2024-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142200708","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
The critical role of the health-care sector in promoting employment for women and migrants in the EU. A multicountry input-output analysis 医疗保健部门在促进欧盟妇女和移民就业方面的关键作用。多国投入产出分析
IF 3.1 2区 经济学
Economic Systems Pub Date : 2024-07-30 DOI: 10.1016/j.ecosys.2024.101249
Izaskun Barba, Belén Iraizoz
{"title":"The critical role of the health-care sector in promoting employment for women and migrants in the EU. A multicountry input-output analysis","authors":"Izaskun Barba, Belén Iraizoz","doi":"10.1016/j.ecosys.2024.101249","DOIUrl":"https://doi.org/10.1016/j.ecosys.2024.101249","url":null,"abstract":"A disproportionate concentration of women in low-pay and low-status sectors is a trend that has grown in significance with the globalization of production systems. For the health and social care sector, this has interesting socio-spatial implications, particularly in terms of immigration, the dimensions of which are worth investigating. This study employs the novel extended multiregional input-output FIGARO database to estimate the employment-generating capacity of the sector in the EU28, with a focus on the gender and geographic origin of its workers. The analysis takes into account both indirect and induced effects and considers both cross-country and cross-sectoral linkages. The findings identify the healthcare sector as a key source of employment for both national and immigrant women in more than half of EU countries. At the same time, this sector contributes to the earnings disadvantage experienced by women, which suggest that equality policies should consider the sectoral distribution of employment.","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2024-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141947932","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 policy uncertainty and the Chinese sectoral stock market: A multilayer network analysis 气候政策不确定性与中国行业股票市场：多层网络分析
IF 2.8 2区 经济学
Economic Systems Pub Date : 2024-07-01 DOI: 10.1016/j.ecosys.2024.101250
Jiusheng Chen, Xianning Wang
{"title":"Climate policy uncertainty and the Chinese sectoral stock market: A multilayer network analysis","authors":"Jiusheng Chen, Xianning Wang","doi":"10.1016/j.ecosys.2024.101250","DOIUrl":"https://doi.org/10.1016/j.ecosys.2024.101250","url":null,"abstract":"","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":2.8,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141852412","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
Structural characteristics and non-linear fiscal multipliers 结构特点和非线性财政乘数
IF 2.8 2区 经济学
Economic Systems Pub Date : 2024-07-01 DOI: 10.1016/j.ecosys.2024.101247
Mahima Gupta, Amlendu Dubey
{"title":"Structural characteristics and non-linear fiscal multipliers","authors":"Mahima Gupta, Amlendu Dubey","doi":"10.1016/j.ecosys.2024.101247","DOIUrl":"https://doi.org/10.1016/j.ecosys.2024.101247","url":null,"abstract":"","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":2.8,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141850219","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
Trust in banks and financial inclusion: Micro-level evidence from 28 countries 对银行的信任与金融包容性：来自 28 个国家的微观证据
IF 2.8 2区 经济学
Economic Systems Pub Date : 2024-07-01 DOI: 10.1016/j.ecosys.2024.101248
Axelle Heyert, Laurent Weill
{"title":"Trust in banks and financial inclusion: Micro-level evidence from 28 countries","authors":"Axelle Heyert, Laurent Weill","doi":"10.1016/j.ecosys.2024.101248","DOIUrl":"https://doi.org/10.1016/j.ecosys.2024.101248","url":null,"abstract":"","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":2.8,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141844980","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
The effects of EU grants on SMEs: Evidence from Bulgaria 欧盟赠款对中小型企业的影响：保加利亚的证据
IF 3.1 2区 经济学
Economic Systems Pub Date : 2024-06-20 DOI: 10.1016/j.ecosys.2024.101244
Daniel Nigohosyan, Iglika Vassileva, Albena Vutsova
{"title":"The effects of EU grants on SMEs: Evidence from Bulgaria","authors":"Daniel Nigohosyan, Iglika Vassileva, Albena Vutsova","doi":"10.1016/j.ecosys.2024.101244","DOIUrl":"https://doi.org/10.1016/j.ecosys.2024.101244","url":null,"abstract":"The paper explores the effects of European Union (EU) support on small and medium-sized enterprises (SMEs) in Bulgaria in the 2014–2020 programming period. In particular, it applies two standard counterfactual techniques (Difference-in-Differences and Propensity Score Matching) to review a 200-million EUR scheme under the Operational Programme ‘Innovation and Competitiveness’ (2014–2020). The analysis shows a positive and statistically significant effect of the grants on the assets of the supported companies. Some positive effects on the SMEs' revenues and revenues per employee have also been observed. However, the paper finds no evidence that the SME grants have supported the companies' profitability and employment. Thus, the findings raise questions about the design of grant schemes supporting competitiveness, which may lead to selecting better-performing companies (‘cherry-picking’) without providing any substantial positive effects.","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2024-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141550645","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
Counterfeiting and firm survival. Evidence from the Italian manufacturing industry 假冒与企业生存。来自意大利制造业的证据。
IF 3.1 2区 经济学
Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2023.101175
Rosanna Pittiglio
{"title":"Counterfeiting and firm survival. Evidence from the Italian manufacturing industry","authors":"Rosanna Pittiglio","doi":"10.1016/j.ecosys.2023.101175","DOIUrl":"10.1016/j.ecosys.2023.101175","url":null,"abstract":"<div><p>Using a dataset obtained by matching and merging three major databases, this paper investigates the impact of counterfeiting on firm survival in a sample of Italian manufacturing firms established between 2004–2006. This paper contributes to the literature on firm survival, which has identified firm-level characteristics, macroeconomic conditions and institutional features as key contributing factors to growth and survival probability among firms. The topic is hugely significant since this illegal competition may displace and damage the firms that produce genuine products. Overall, our analysis finds that the presence of counterfeit products negatively affects the chances of firms surviving. Moreover, after performing an in-depth analysis, we find that the presence of counterfeit products affects firms operating in lower tech sectors and smaller in size. Our evidence, which is robust to an alternative measure of counterfeiting and different estimation methods, provides room for policy interventions.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0939362523001140/pdfft?md5=c80cd8ea070d6b7ab37ed69a673429fd&pid=1-s2.0-S0939362523001140-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139079193","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
Contagion among European financial indices, evidence from a quantile VAR approach 欧洲金融指数之间的传染，来自量化 VAR 方法的证据
IF 3.1 2区 经济学
Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2024.101183
Giulio Palomba, Marco Tedeschi
{"title":"Contagion among European financial indices, evidence from a quantile VAR approach","authors":"Giulio Palomba,&nbsp;Marco Tedeschi","doi":"10.1016/j.ecosys.2024.101183","DOIUrl":"10.1016/j.ecosys.2024.101183","url":null,"abstract":"<div><p><span>The aim of this paper is to analyze the dynamic relationships binding European financial market indices over the decade 2013–2022. In particular, we estimate a quantile VAR to study spillovers in different volatility scenarios using a measure of realised volatility robust to jumps and microstructural noise. Our results reveal that, especially for low quantiles, the degree of implied interconnectedness between the indices is affected negatively by the Brexit and the outbreak of the Russia-Ukraine conflict, while it augments after the Covid-19 pandemic occurrence. We also found that the EU central markets (Belgian, Dutch, French, and German) are important for the stability of the Eurozone system when uncertainty increases. On the other hand, the Italian and Portuguese markets transmit spillovers when volatility is high, whereas when the volatility is moderate or reduced, they absorb spillovers. The role of Scandinavian markets is mixed since the Finnish and Swedish markets are spillover emitters, while the Danish and the Norwegian emit only when the volatility is high. Our empirical analysis provides valuable information to policymakers, practitioners, and </span>financial institutions.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139515228","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
Adding an informal sector to the IS-LM framework: A graphical exposition of the IS-LM-PC-SE model for the classroom and policymaker 将非正规部门纳入 IS-LM 框架：面向课堂和决策者的 IS-LM-PC-SE 模型图解
IF 3.1 2区 经济学
Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2024.101225
Celso J. Costa Junior , Alejandro C. Garcia-Cintado
{"title":"Adding an informal sector to the IS-LM framework: A graphical exposition of the IS-LM-PC-SE model for the classroom and policymaker","authors":"Celso J. Costa Junior ,&nbsp;Alejandro C. Garcia-Cintado","doi":"10.1016/j.ecosys.2024.101225","DOIUrl":"10.1016/j.ecosys.2024.101225","url":null,"abstract":"<div><p>Economic policies have been shown to affect the macroeconomy in a different fashion when a sizeable shadow economy is explicitly taken into account. But, in spite of its seemingly high relevance, no intermediate-Macroeconomics textbook posits a discussion on this topic. In this paper, we seek to make a contribution by extending an otherwise conventional IS-MR-PC model along the same lines of the approach used in Blanchard’s highly acclaimed textbook (<span>Blanchard, 2016a)</span> to include an informal sector. We find that this two-sector model is capable of qualitatively reproducing the main basic results obtained in this literature. Therefore, importantly, this work provides a toolkit intended for undergraduate students, practitioners, policymakers, and, in general, nonspecialists on the cost-benefit analysis of economic policies in the presence of a significant underground economy.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0939362524000475/pdfft?md5=99fa8e4251d7515d2f7c17bfdf5756bc&pid=1-s2.0-S0939362524000475-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141040693","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
The role of financial and physical assets as substitute or complementary to land as collateral in credit market: Evidence from Indian households 金融资产和实物资产在信贷市场中作为土地抵押品的替代品或补充品的作用：来自印度家庭的证据
IF 3.1 2区 经济学
Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2024.101182
Pallabi Chakraborty , Amarjyoti Mahanta
{"title":"The role of financial and physical assets as substitute or complementary to land as collateral in credit market: Evidence from Indian households","authors":"Pallabi Chakraborty ,&nbsp;Amarjyoti Mahanta","doi":"10.1016/j.ecosys.2024.101182","DOIUrl":"10.1016/j.ecosys.2024.101182","url":null,"abstract":"<div><p>Land is considered as one of the most widely prevalent forms of collateral in credit markets of developing economies. It has also been observed that the landless segment do get loans. Using a nationally representative data for Indian households, the present study examines whether assets other than land, that is, physical and financial assets enable the landless to obtain loans. We also study if there is any association between different types of assets and purpose of loan, which represents immediate and direct return from projects. We introduce instrumental variables to tackle the issues of endogeneity in a Heckman Probit model (sample selection model). Results suggest that physical assets act as substitute to land not only in getting credit from any source but also particularly in getting formal credit. However, financial instruments serve dual roles: these are both substitutable and complementary to land in the formal sector. Further, a complementarity is observed between land and productive investments in formal sector. On one hand, our study explains why looking beyond land as collateral is important for households with limited immovable property while on the other hand some of our findings re-establish the dominance of land.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139459555","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
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信