Unemployment and Productivity in the Long Run: The Role of Macroeconomic Volatility

The role of monetary factor in generating inflationary processes in Russia has stimulated various debates in social and scientific circles for a relatively long time. The authors show that identification of the specificity of relationship between money and inflation requires a complex approach based on statistical modeling and involving a wide range of indicators relevant for the price changes in the economy. As a result a model of inflation for Russia implying the decomposition of inflation dynamics into demand-side and supply-side factors is suggested. The main conclusion drawn is that during the recent years the volume of inflationary pressures in the Russian economy has been determined by the deviation of money supply from money demand, rather than by money supply alone. At the same time, monetary factor has a long-run spread over time impact on inflation.

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The Role of Technological Change in the Long-run Global Economy Forecasting

Voprosy Ekonomiki ◽

10.32609/0042-8736-2013-1-97-116 ◽

2013 ◽

pp. 97-116 ◽

Cited By ~ 1

Author(s):

A. Apokin

Keyword(s):

Technological Change ◽

Data Quality ◽

Long Range ◽

Global Economy ◽

World Economy ◽

Qualitative Approaches ◽

Long Run ◽

The World ◽

National Economies

The author compares several quantitative and qualitative approaches to forecasting to find appropriate methods to incorporate technological change in long-range forecasts of the world economy. A?number of long-run forecasts (with horizons over 10 years) for the world economy and national economies is reviewed to outline advantages and drawbacks for different ways to account for technological change. Various approaches based on their sensitivity to data quality and robustness to model misspecifications are compared and recommendations are offered on the choice of appropriate technique in long-run forecasts of the world economy in the presence of technological change.

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Literalism and Moral Status

10.1093/oso/9780198809524.003.0009 ◽

2018 ◽

Author(s):

Carrie Figdor

Keyword(s):

Moral Status ◽

Moral Standing ◽

Short Term ◽

Long Run ◽

Moral Boundaries ◽

Psychological Capacities

Chapter 9 presents the idea that Literalism undermines current social and moral boundaries for moral status. Possession of psychological capacities, moral standing, and respectful treatment are a standard package deal. So either many more beings enjoy moral status than we now think, or the relative superiority of human moral status over other beings is diminished. It introduces the role of psychological ascriptions in drawing social and moral boundaries by examining dehumanization and anthropomorphism. It argues that in the short term Literalism does not motivate us to do more than make minor adjustments to current moral boundaries. We can distinguish the kinds of psychological capacities that matter for moral status from the kinds that best divide nature at its joints. In the long run, however, Literalism prompts us to reconsider the anthropocentric standards that govern current moral boundaries.

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Why do informal markets remain informal: the role of tacit knowledge in an Indian footwear cluster

Journal of Evolutionary Economics ◽

10.1007/s00191-021-00726-7 ◽

2021 ◽

Author(s):

Yugank Goyal ◽

Klaus Heine

Keyword(s):

Tacit Knowledge ◽

Informal Markets ◽

Market Institutions ◽

Market Structures ◽

Long Run ◽

External Pressures ◽

Propositional Form ◽

The City

AbstractWhy do informal markets resist formalizing, even when the gains of doing so outweigh its costs in the long run? While a number of responses to this question have been advanced, we discover that part of the reason could be located in the tacit knowledge (attributed to Polanyi, Hayek) embedded in the marketplace, on which market institutions run. This factor is not fully explored yet. Tacit (idiosyncratic, inarticulate, nonconscious) knowledge is acquired personally through experience and cannot be transferred or conveyed to anyone. This is the knowledge we use to act without knowing it in a propositional form. We present the case of one of India’s largest informal footwear cluster, located in the city of Agra. We show that informal markets, hinged on tacit knowledge, cannot evolve easily and therefore may remain locked-in, despite external pressures or incentives to formalize. The study shows that efforts to overcome informality and reaping the benefits of formalized market structures cannot be done without taking cognizance of the sticky intangible knowledge on which these markets rest.

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Shades between Black and Green Investment: Balance or Imbalance?

Sustainability ◽

10.3390/su13095024 ◽

2021 ◽

Vol 13 (9) ◽

pp. 5024

Author(s):

Vítor Manuel de Sousa Gabriel ◽

María Mar Miralles-Quirós ◽

José Luis Miralles-Quirós

Keyword(s):

Risk Factor ◽

Oil Prices ◽

Oil Price ◽

Short Term ◽

Environmental Indices ◽

Long Run ◽

Green Investment ◽

Bounds Test

This paper analyses the links established between environmental indices and the oil price adopting a double perspective, long-term and short-term relationships. For that purpose, we employ the Bounds Test and bivariate conditional heteroscedasticity models. In the long run, the pattern of behaviour of environmental indices clearly differed from that of the oil prices, and it was not possible to identify cointegrating vectors. In the short-term, it was possible to conclude that, in contemporaneous terms, the variables studied tended to follow similar paths. When the lag of the oil price variable was considered, the impacts produced on the stock market sectors were partially of a negative nature, which allows us to suppose that this variable plays the role of a risk factor for environmental investment.

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Saving energy in residential buildings: the role of energy pricing

Climatic Change ◽

10.1007/s10584-021-03164-3 ◽

2021 ◽

Vol 167 (1-2) ◽

Author(s):

Jens Ewald ◽

Thomas Sterner ◽

Eoin Ó Broin ◽

Érika Mata

Keyword(s):

Energy Demand ◽

Income Elasticity ◽

Residential Buildings ◽

Policy Framework ◽

Energy Prices ◽

Residential Energy ◽

Residential Energy Demand ◽

Long Run ◽

Zero Carbon

AbstractA zero-carbon society requires dramatic change everywhere including in buildings, a large and politically sensitive sector. Technical possibilities exist but implementation is slow. Policies include many hard-to-evaluate regulations and may suffer from rebound mechanisms. We use dynamic econometric analysis of European macro data for the period 1990–2018 to systematically examine the importance of changes in energy prices and income on residential energy demand. We find a long-run price elasticity of −0.5. The total long-run income elasticity is around 0.9, but if we control for the increase in income that goes towards larger homes and other factors, the income elasticity is 0.2. These findings have practical implications for climate policy and the EU buildings and energy policy framework.

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Institutional quality and the capital structure of microfinance institutions: the moderating role of board gender diversity

Journal of Institutional Economics ◽

10.1017/s1744137421000023 ◽

2021 ◽

pp. 1-21

Author(s):

Michael Adusei ◽

Beatrice Sarpong-Danquah

Keyword(s):

Capital Structure ◽

Institutional Environment ◽

Gender Diversity ◽

Institutional Quality ◽

Microfinance Institutions ◽

Female Representation ◽

Long Run ◽

Board Gender Diversity ◽

The Relationship

Abstract We test the effect of institutional quality on capital structure in the microfinance setting. In doing this, we rely on data from 532 microfinance institutions (MFIs) located in 73 countries dotted across the six microfinance regions in the world. We observe that institutional quality exhibits a robust negative and statistically significant relationship with capital structure in both the short and long run, implying that MFIs in countries with a better institutional environment are less likely to utilize more debt. Our moderation analysis furnishes us with evidence that the presence of women on the board of an MFI significantly moderates the relationship between institutional quality and its capital structure. We show that in the presence of more female representation on the boards of MFIs, the tendency of MFIs using less debt is higher.

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