Journal of Economic Policy Reform最新文献

{"title":"Governing the economics of the common good: from correcting market failures to shaping collective goals","authors":"Mariana Mazzucato","doi":"10.1080/17487870.2023.2280969","DOIUrl":"https://doi.org/10.1080/17487870.2023.2280969","url":null,"abstract":"To meet today’s grand challenges, economics requires an understanding of how common objectives may be collaboratively set and met. Tied to the assumption that the state can, at best, fix market fai...","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":" 6","pages":""},"PeriodicalIF":2.1,"publicationDate":"2023-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138493693","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}

{"title":"Friend or foe? The impact of macroprudential policy on economic growth","authors":"Hiep Ngoc Luu, Thao Thi Phuong Nguyen, Tram Thi Mai Pham, Tram Ngoc Nguyen","doi":"10.1080/17487870.2023.2281646","DOIUrl":"https://doi.org/10.1080/17487870.2023.2281646","url":null,"abstract":"In this paper, we examine the impact of macroprudential policy on economic growth. The results show that the implementation of macroprudential policies contributes to fostering economic growth, esp...","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"13 14","pages":""},"PeriodicalIF":2.1,"publicationDate":"2023-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138504112","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}

{"title":"Determinants of central bank digital currency adoption – a study of 85 countries","authors":"Zhao Dong, Muhammad Umar, Umair Bin Yousaf, Sagheer Muhammad","doi":"10.1080/17487870.2023.2275036","DOIUrl":"https://doi.org/10.1080/17487870.2023.2275036","url":null,"abstract":"This study attempts to explore the macroeconomic development factors that determine countries’ decisions to implement CBDCs. The study uses data regarding CBDC adoption and macroeconomic variables ...","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"13 15","pages":""},"PeriodicalIF":2.1,"publicationDate":"2023-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138504111","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}

{"title":"Designing a European energy price regulation system: some basic principles","authors":"Bas van Aarle, Joep Konings, Aaron Putseys","doi":"10.1080/17487870.2023.2275277","DOIUrl":"https://doi.org/10.1080/17487870.2023.2275277","url":null,"abstract":"ABSTRACTThe recent surge in energy prices in Europe and their high volatility, have a very large impact on its economy. Policymakers have sought to counteract the impacts of the unprecedented energy price shock with a plethora of measures albeit with limited success. This paper proposes a dynamic, flexible system of energy price regulation at the retail level. The mechanism is simple, automatic and has a number of parameters that can be adjusted to fine tune its execution. It is shown how the mechanism leads to toppling of energy prices and reduces their volatility. At the same time, it does not prevent energy prices to absorb long-run fundamental/ market-conform price trends.KEYWORDS: Energy price shocksenergy price controlJEL CLASSIFICATION: E31E61E64 AcknowledgmentsWe thank both referees for useful comments on our paper. Konings acknowledges financial support of the Methusalem grant numer METH/15/004.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1. The EU (European Commission (Citation2022c,b)) also realises its much stronger bargaining power than individual countries when it comes to external negotiations on energy and energy security measures: “The EU is stronger when acting together. The EU should act jointly to harness its market power through negotiated partnerships with suppliers.” And “Solidarity is fundamental. Joint gas storage is an insurance benefitting everyone, and to which everyone should contribute in a fair way. This is why Member States without storage should contribute to the storage filling levels in other Member States and in exchange benefit from enhanced security of supply. The burden sharing mechanism embedded in the proposal ensures a fair allocation of security of supply costs among all Member States as they all benefit, thanks to the EU energy market, from lowering the risks of supply disruption regardless of where storage is located in the EU.”2. https://www.consilium.europa.eu/en/press/press-releases/2022/12/19/council-agrees-on-temporary-mechanism-to-limit-excessive-gas-prices/3. Energy prices set in contracts would also need to respect the maximum prices that will prevail (otherwise speculative gains could be made): in case the contracted prices would exceed the maximum price level, the latter becomes binding rather than the energy price according to the contract. By a proper formulation of price setting in the contracts this will be unproblematic.4. A good example is Belgium’s Social Tariff that charges electricity for the lowest incomes at a lower rate than other consumers. The difference between the Social Tariff and the electricity price is paid by the government. This measure in other words subsidizes energy bills of the lowest incomes.5. Campbel (Citation2018) finds that in most parameters of his energy supply model, a price cap policy is preferable over a revenue cap (which would have some similarity to an excess profits tax).6. The UK system dates back already fro","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"4 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135725329","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}

{"title":"Effect of public–private partnership projects on inequality in developing countries","authors":"Noemí Peña-Miguel, Beatriz Cuadrado-Ballesteros","doi":"10.1080/17487870.2023.2275039","DOIUrl":"https://doi.org/10.1080/17487870.2023.2275039","url":null,"abstract":"ABSTRACTThis study examines the effect of public–private partnerships (PPPs) on income inequality, focusing on economic infrastructures. For that, we use a sample composed of data from 38 low- and middle-income countries over the period 2000–2018. The empirical findings suggest that inequality has not been reduced; by contrast, income inequality has increased in countries that have developed PPP projects to a greater extent. This study offers practical implications about the social cost that the PPP formula has in developing countries.KEYWORDS: InequalityPPPPublic–Private Partnershipdeveloping countriesincome Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1. For further information about gains, please, check Estache and Saussier (Citation2014).2. Further information: https://ppi.worldbank.org/en/ppi.3. Further information is described in more detail on the website: https://ppi.worldbank.org/en/ppi.4. Corruption is especially relevant in this case. It is highly correlated with many control variables, like inflation, economic growth, balance, openness, unemployment, and especially with the democratization index. In addition, according to Cuadrado-Ballesteros and Peña-Miguel (Citation2022), corruption (which would be an explanatory variable in our model) would be highly correlated with PPP variables (which are currently explanatory variables). Then, our model would have several multicollinearity problems if corruption had been included.Additional informationFundingThe work was supported by the Euskal Herriko Unibertsitatea [Consolidated Research Group EJ/GV: IT 897-16].","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"1 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135325866","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}

{"title":"The European Investment Bank to the rescue? COVID-related lending as incremental change","authors":"David Howarth, Helen Kavvadia","doi":"10.1080/17487870.2023.2268251","DOIUrl":"https://doi.org/10.1080/17487870.2023.2268251","url":null,"abstract":"The European Investment Bank (EIB) was officially part of a coordinated European Union (EU) strategy to address the impact of the COVID-19 pandemic. However, we argue that despite the worst socio-economic crisis to hit most European countries since the Second World War, the EIB failed to deviate from a set path that delimited acceptable forms of lending. We apply a historical institutionalist analysis to explain how and why the EIB continued to engage in principally low risk lending activities via the commercial banking sector, and failed to significantly increase lending to the public health sector.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135617086","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}

{"title":"Government expenditure, budget deficit and shadow economy","authors":"Duc Hong Vo, Ngoc Phu Tran, Toan Pham-Khanh Tran, Quan Thai-Thuong Le, Phuc Van Nguyen","doi":"10.1080/17487870.2023.2268250","DOIUrl":"https://doi.org/10.1080/17487870.2023.2268250","url":null,"abstract":"ABSTRACTThe shadow economy has emerged as a challenging issue for countries globally, particularly emerging markets. An increased budget deficit prevents the governments from using public expenditure to control the increased shadow economy. This paper examines the effect of government expenditure on the shadow economy and the moderating role of budget deficit affecting this impact for the ASEAN-7 countries from 1990 to 2019. We find that increased government spending is associated with an increased shadow economy in ASEAN countries. Interestingly, the effects of government expenditure on the shadow economy intensify with increased budget deficit in the short and long term.KEYWORDS: Government expenditureshadow economybudget deficitARDLthe ASEAN countriesJEL CLASSIFICATIONS: E6H6H11 Disclosure statementNo potential conflict of interest was reported by the author(s).","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135900567","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}

{"title":"Intermunicipal cooperation and agreement formalization","authors":"Austin M. Aldag, Mildred E. Warner","doi":"10.1080/17487870.2023.2244628","DOIUrl":"https://doi.org/10.1080/17487870.2023.2244628","url":null,"abstract":"We explore the effects of agreement formalization and partners on cooperation costs in twelve local government services in New York State. Our survey differentiates agreement formalization (informal, memorandum of understanding, joint production, contracting and special districts) and controls for cooperation duration and non-profit partners. Cost data (1996–2016) enable panel models which find agreement formality often has no effect on costs. Non-profit partners typically reduce costs. Formality is associated with higher costs in services where quality improvements are sought, and lower costs where formality shifts budget authority. In general the costs of formality appear to be balanced by savings over time.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135980748","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}

{"title":"Not a black or white issue: choosing alternative organizational models for delivering early childhood services","authors":"Mattia Casula, Stefania Profeti","doi":"10.1080/17487870.2023.2249185","DOIUrl":"https://doi.org/10.1080/17487870.2023.2249185","url":null,"abstract":"","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":" ","pages":""},"PeriodicalIF":2.1,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49336411","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}

{"title":"Where state capitalism meets the transnational capitalist state: The ties between Gazprom and Amsterdam’s offshore financial center","authors":"Rodrigo Fernandez, Reijer P Hendrikse, Tobias J. Klinge","doi":"10.1080/17487870.2023.2250503","DOIUrl":"https://doi.org/10.1080/17487870.2023.2250503","url":null,"abstract":"","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":" ","pages":""},"PeriodicalIF":2.1,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44625852","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}