Economic Analysis and Policy最新文献

Institutional investors’ green attention and corporate greenwashing: The effectiveness of external governance 机构投资者绿色关注与企业“漂绿”：外部治理的有效性

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-06-01 DOI: 10.1016/j.eap.2025.05.048

Shuitu Qian , Zhenyu Yang , Lingxiao Yang , Yun Zhang

引用次数: 0

Does the European fiscal framework play a pivotal role in shaping fiscal cyclicality of the revenue side of the budget balance? 欧洲财政框架是否在塑造预算平衡收入方面的财政周期性方面发挥了关键作用？

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-06-01 DOI: 10.1016/j.eap.2025.05.047

Giovanni Carnazza , Federica Lanterna , Paolo Liberati

{"title":"Does the European fiscal framework play a pivotal role in shaping fiscal cyclicality of the revenue side of the budget balance?","authors":"Giovanni Carnazza , Federica Lanterna , Paolo Liberati","doi":"10.1016/j.eap.2025.05.047","DOIUrl":"10.1016/j.eap.2025.05.047","url":null,"abstract":"<div><div>This paper explores the pro-cyclicality of discretionary tax revenues in the European Union (EU), focusing on the role of fiscal rules in shaping this outcome. Departing from the prevailing literature and building on a novel methodology that cyclically adjusts individual revenue components – adapting the European Commission’s framework – we highlight how standard approaches often obscure the true fiscal stance by relying solely on <em>ex-post</em> data. By contrasting <em>ex-post</em> and real-time output gap estimates, we demonstrate that real-time data more accurately capture the policy environment (and the fiscal outcomes) in which decisions are made. Our results reveal a consistent pro-cyclical pattern in tax policy across EU Member States, driven by the interaction between constrained discretionary space and rigid fiscal rules. Using two institutional indices and time-varying econometric techniques, we show that tightening fiscal constraints have amplified this pro-cyclicality over time. These findings raise important questions about the design of the new European fiscal framework and its ability to support macroeconomic stabilisation.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 2162-2179"},"PeriodicalIF":7.9,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144189694","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

Can a looser fertility policy reduce consumption inequality? Evidence from China’s “universal two-child policy” 宽松的生育政策能减少消费不平等吗？来自中国“全面二孩政策”的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-06-01 DOI: 10.1016/j.eap.2025.05.044

Xianbo Zhou , Songliang Han , Yingming Wu , Guangsu Zhou

{"title":"Can a looser fertility policy reduce consumption inequality? Evidence from China’s “universal two-child policy”","authors":"Xianbo Zhou , Songliang Han , Yingming Wu , Guangsu Zhou","doi":"10.1016/j.eap.2025.05.044","DOIUrl":"10.1016/j.eap.2025.05.044","url":null,"abstract":"<div><div>This paper uses micro survey data from China Household Finance Survey (CHFS) 2011 to 2019 and the staggered DID approach to study the impact of the loose “universal two-child” policy on Chinese household consumption inequality. The results show that the implementation of the policy can significantly reduce the relative consumption deprivation of policy-responsive families, and the effect is more significant for relatively vulnerable households, for example, those located in rural areas or western regions, with “outside-the-system” jobs or low- to middle-income levels. Mechanistic analysis revealed that the differentiated effects of the policy on the consumption of households with different income strata contributed to the reduction in consumption inequality. Furthermore, the policy alleviates consumption inequality through its negative effect on luxury consumption and positive effects on subsistence and development consumption. The mitigating effect of the two-child policy on consumption inequality is robust according to various robustness tests. This study has implications and policy significance for the implementation of China’s current three-child policy and the adjustment of future fertility policies, as well as narrowing the gap between the rich and the poor and achieving the goals of common prosperity and equalization.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 2132-2153"},"PeriodicalIF":7.9,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144185125","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

Will trade facilitation enhance the innovation capability of Chinese cities? Evidence from 279 prefecture-level cities in China 贸易便利化会提升中国城市的创新能力吗？来自中国279个地级市的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-06-01 DOI: 10.1016/j.eap.2025.06.002

Hongjie Sun, Lan Li, Xiaohan Wang, Shipeng Sun

{"title":"Will trade facilitation enhance the innovation capability of Chinese cities? Evidence from 279 prefecture-level cities in China","authors":"Hongjie Sun, Lan Li, Xiaohan Wang, Shipeng Sun","doi":"10.1016/j.eap.2025.06.002","DOIUrl":"10.1016/j.eap.2025.06.002","url":null,"abstract":"<div><div>Trade facilitation and technological innovation are pivotal strategies for the high-quality development of cities in China within the context of the new development pattern. In order to clarify the mechanisms through which trade facilitation increases urban innovation capacity, this paper uses panel data from 279 prefecture-level cities in China between 2006 and 2021. It focuses on the factor intensification effect and technology transfer effect, as well as the regulatory and threshold effects of government technology support. The research findings indicate that: Trade facilitation significantly improves the innovation capabilities of Chinese cities, a conclusion that remains robust after various robustness and endogeneity tests. Factor aggregation and technology transfer serve as critical channels through which trade facilitation impacts urban innovation capabilities. The degree of government technology support can positively moderate the relationship between trade facilitation and urban innovation capacity, displaying a non-linear characteristic. Trade facilitation has a greater positive effect on urban innovation capacity in central and western cities, non-central cities, and resource-endowed cities. The above conclusions provide a theoretical foundation and policy insights for enhancing trade facilitation and promoting urban innovation capabilities within the framework of the new development pattern.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 2302-2316"},"PeriodicalIF":7.9,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144221316","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 impact of VAT input tax refund policy on firms’ labor income share: Evidence from China 增值税进项退税政策对企业劳动收入份额的影响：来自中国的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-06-01 DOI: 10.1016/j.eap.2025.05.054

Guang-Zhao Yang , Deng-Kui Si

引用次数: 0

Green credit policies and labor income share: Evidence from China 绿色信贷政策与劳动收入份额：来自中国的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-06-01 DOI: 10.1016/j.eap.2025.04.018

Disirun, Lixinguang

引用次数: 0

Did high-speed rail induce regional convergence in China 高铁是否引发了中国的区域趋同

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-06-01 DOI: 10.1016/j.eap.2025.05.046

Shengnan Dai , Charles R. Link

引用次数: 0

How does rural collective action affect farmland use right transfer? A case study in Guangxi, China 农村集体行动如何影响农地使用权流转？以中国广西为例

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-06-01 DOI: 10.1016/j.eap.2025.05.039

Xiaohan Chen , Yiqing Su

{"title":"How does rural collective action affect farmland use right transfer? A case study in Guangxi, China","authors":"Xiaohan Chen , Yiqing Su","doi":"10.1016/j.eap.2025.05.039","DOIUrl":"10.1016/j.eap.2025.05.039","url":null,"abstract":"<div><div>Promoting farmland use right transfer to achieve farmland scale management is an effective means of improving agricultural production efficiency and is thus an important topic for promoting rural revitalization and achieving rural modernization. In developing countries with highly fragmented farmland, farmland use right transfer (FURT) results from cooperation among farmers who own farmland. Such cooperation is a process of collective action to achieve convergence between the individual decisions of farmers and collective decisions. Using empirical research based on survey data from 565 households in 10 cities in Guangxi, China, where farmland is highly fragmented, China, as well as 80 village-level survey data associated with these households, it was found that a high level of village collective action significantly promotes farmland use right transfer through the following three pathways of influence: cultural and recreational activities in the village, farmers' leadership willingness, and the village’s supply of institutions. In addition, we also found that the facilitating effect of village collective action on farmers' farmland use right transfer decisions is more pronounced in villages with high economic levels and among villagers with a strong sense of attachment to their village. This study provides new research ideas for exploring the organic connection between highly fragmented farmland in developing countries and modern agricultural development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 2247-2262"},"PeriodicalIF":7.9,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144221315","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

Pension insurance, risk attitudes, and household asset allocation–evidence from China 养老保险、风险态度与家庭资产配置——来自中国的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-06-01 DOI: 10.1016/j.eap.2025.05.042

Hua Chen , Yunxiao Guo , Ding Li , Han Xiao

{"title":"Pension insurance, risk attitudes, and household asset allocation–evidence from China","authors":"Hua Chen , Yunxiao Guo , Ding Li , Han Xiao","doi":"10.1016/j.eap.2025.05.042","DOIUrl":"10.1016/j.eap.2025.05.042","url":null,"abstract":"<div><div>This research, utilizing data from the China Household Finance Survey (CHFS) conducted in 2017, 2019, and 2021, examines the influence of pension insurance on asset allocation among households in China. The results reveal that increased pension balances are associated with a greater propensity to invest in riskier assets. Specifically, a 10 % rise in pension account balances corresponds to a 5 % increase in the likelihood of engaging in the risk asset market, alongside a 1.7 % increase in the allocation to such assets. Furthermore, the study identifies notable disparities in the effects of pension insurance on market participation, particularly when considering urban-rural distinctions, with pronounced effects observed in rural households. Additionally, higher pension balances are linked to a heightened risk preference, and the observed heterogeneity in economic development levels aligns with variations in participation in the risk asset market. These findings highlight the significant role of pension insurance in shaping investment behaviours and risk preferences, as well as its potential to bolster domestic demand and stimulate economic growth. This underscores the essential function of pension insurance in financial planning and the formulation of policy.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 2180-2191"},"PeriodicalIF":7.9,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144189695","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

Digitalization policy and enterprise digital transformation: The role of big data capability 数字化政策与企业数字化转型：大数据能力的作用

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-28 DOI: 10.1016/j.eap.2025.05.049

Feifei Yu , Xia Gao , Xiaotong Li , Dong Jiang

引用次数: 0