Regulated Sharing Economy in the New Normal

2021 ◽  
pp. 1-19
Author(s):  
Volkan Kaymaz
Keyword(s):  
Interest Rates ◽  
Sharing Economy ◽  
2008 Financial Crisis ◽  
Main Motivation ◽  
Access To Credit ◽  
Consumption Expenditures ◽  
Low Interest Rates ◽  
The 2008 Financial Crisis ◽  
Traditional Economy ◽  
Over Time

The sharing economy developed rapidly with the increase in consumption expenditures in a period when low interest rates and access to credit were easy before the 2008 Financial Crisis and entered into serious competition with companies operating in the traditional economy. The use of sharing economy tools has increased as a result of sustainability, environmentalism, desire for new experiences, local tourism, and authentic searches. The sharing economy, whose main motivation is to reintroduce idle products to the market, has changed its priorities over time and turned into a profit-oriented structure, and large companies increased their revenues by increasing the number of users. The criticisms emerging as a result of employment losses, reservation cancellations, reimbursement requests, lack of social security of employees, and therefore not being able to benefit from COVID-19 aids have revealed the missing parts of the sharing economy.

scholarly journals A new approach for satisfactory pensions with no guarantees

2019 ◽  
Vol 10 (1) ◽  
pp. 3-21
Author(s):  
M. Carmen Boado-Penas ◽  
Julia Eisenberg ◽  
Axel Helmert ◽  
Paul Krühner
Keyword(s):  
Risk Management ◽  
Interest Rates ◽  
Asset Management ◽  
Expected Return ◽  
New Approach ◽  
Low Interest Rates ◽  
Key Variables ◽  
Pension Benefits ◽  
Pension Payments ◽  
Over Time

AbstractThe increase in longevity, the ultra-low interest rates and the guarantees associated to pension benefits have put significant strain on the pension industry. Consequently, insurers need to be in a financially sound position while offering satisfactory benefits to participants. In this paper, we propose a pension design that goes beyond the idea of annuity pools and unit-linked insurance products. The purpose is to replace traditional guarantees with low volatility, mainly achieved by collective smoothing algorithms and an adequate asset management. With the aim of offering security to the insured, we discuss the optimisation of some key variables of the proposed pension product to target both a satisfactory level of the initial pension and stable pension payments over time. By combining such well-known products as unit-linked and annuities, we show that it is possible to design a pension product with both high-expected return and low risk for the policyholder. However, differently than in the classical unit-linked framework, we do not allow the individuals to choose the underlying funds. Instead, the funds are under the surveillance of an insurance company’s professional risk management, which induces better informed decisions.

scholarly journals Financing Constraints and Access to Credit in a Postcrisis Environment: Evidence from New Farmers in Alabama

2012 ◽  
Vol 44 (4) ◽  
pp. 607-621 ◽  
Author(s):  
Valentina Hartarska ◽  
Dennis Nadolnyak
Keyword(s):  
Financial Crisis ◽  
Survey Data ◽  
Credit Market ◽  
Cash Flows ◽  
Financing Constraints ◽  
2008 Financial Crisis ◽  
Access To Credit ◽  
Self Selection ◽  
The 2008 Financial Crisis ◽  
New Farmers

We use survey data to study the degree to which new farming operations in Alabama were financially constrained after the 2008 financial crisis. Next, we control for farmers' self-selection out of the credit market and identify which farmers were able to secure loans during the period of 2009–2010. The results show that new farmers that started any part of their operation after 2005 were financially constrained but no evidence that their financing constraints were affected by the crisis. As expected, we find that lending was collateral-driven, although lenders also considered farmers' profitability and cash flows.

Electoral Choice—Voter Demand and Party Supply

2018 ◽  
Author(s):  
Russell J. Dalton
Keyword(s):  
Financial Crisis ◽  
2008 Financial Crisis ◽  
Party Positions ◽  
Electoral Choice ◽  
The 2008 Financial Crisis ◽  
European Election ◽  
Voting Decisions ◽  
Election Studies ◽  
The Impact ◽  
Over Time

This chapter examines the impact of the economic and cultural cleavages on Europeans’ voting choices over time. There is a strong and persisting influence of the economic cleavage on voting choices with little change after the 2008 financial crisis. There is also a growing importance of the cultural cleavage. In recent elections, the cultural cleavage outweighs the influence on the economic cleavage. The polarization of party positions on the cultural cleavage increases the influence of this cleavage, but the same pattern is not apparent for the economic cleavage. The salience of each cleavage also affects its weight in voting decisions. European voters and parties have realigned their positions so that both cleavages are now important for electoral choice. The analyses are based on the European Election Studies in 1979, 2009, and 2014.

scholarly journals Perception of Farmers’ on Soil Fertility Problems and Replenishment Technologies in the North Rift Region of Kenya

2020 ◽  
pp. 111-122
Author(s):  
Margaret A. Osundwa ◽  
Earnest Saina ◽  
Caleb Othieno
Keyword(s):  
Soil Fertility ◽  
Interest Rates ◽  
Sampling Technique ◽  
Access To Credit ◽  
The North ◽  
Soil Fertility Replenishment ◽  
Low Interest Rates ◽  
In Trans ◽  
On Farm ◽  
Selection Of

This paper investigates the farmers’ perception on soil fertility replenishment technologies in the North Rift Region of Kenya. A survey was conducted in Trans Nzoia and Uasin Gishu counties of the North Rift Region of Kenya. A total of 108 respondents were interviewed. A two stage random sampling technique was employed in the study. In the first stage, farmer groups growing maize as the main crop were selected. The second stage involved the selection of farmers who were practicing cereal banking for ease of marketing of their produce. A survey and field demonstration plots were adopted. On-farm demonstration were carried out and used to ascertain the farmers’ perception towards the technologies. A structured questionnaire was administered to them to elicit information on their perception on soil fertility replenishment technologies (SFRT). Descriptive statistics and the multiple regression analysis was done using a Statistical Package for Social Sciences (SPSS). The results revealed that farmers perceived that technologies could be used to address the declining soil fertility. The inputs were affordable available, the Ministry of Agriculture, Livestock and Fisheries (MOALF) was effective in disseminating the technologies and that the technologies could work on any farm at mean score of 3.5, 4.1, 4.0, 3.4 and 4.6 out of 5.0 respectively. Farmers in Trans Nzoia county identified lack of capital (70.4%) compared to Uasin Gishu (39.9%) as the greatest challenge in the adoption of SFRT technologies. Credit schemes that offer loans with low interest rates should be established to enable farmers have access to credit.

A Lingering Crisis

2019 ◽  
Vol 4 (4) ◽  
Author(s):  
Henri Lepage
Keyword(s):  
Financial Crisis ◽  
Interest Rates ◽  
Economic Indicator ◽  
Central Banks ◽  
Economic Recovery ◽  
2008 Financial Crisis ◽  
Bank For International Settlements ◽  
The 2008 Financial Crisis

Global economic recovery since the 2008 financial crisis has been weak. According to Lawrence Summers, the single most important economic indicator of the current era is the declining trend in interest rates. These views have proven controversial at the Bank for International Settlements in Basel. The BIS researchers take a different view, focusing instead on the activities of the central banks.

scholarly journals Implementing Monetary Policy after the 2008 Financial Crisis

2019 ◽  
Vol 7 (9) ◽  
pp. 141-172
Author(s):  
Ioannis N. Kallianiotis
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Interest Rates ◽  
Global Financial Crisis ◽  
Target Range ◽  
Federal Funds ◽  
2008 Financial Crisis ◽  
Policy Interventions ◽  
Federal Funds Market ◽  
The 2008 Financial Crisis

Every six weeks or so (9 times during the year), the financial world watches as the Federal Open Market Committee (FOMC) decides on a target interest rate in the federal funds market for the next period. But what happens next? How do policymakers make sure that interest rates in the fed funds market trade within the target range? What will be the effect of the new target rate on the Wall Street and the Main Street? How efficient is so far the monetary policy after the latest global financial crisis? Is the target rate the correct one? The framework that the FOMC uses to implement monetary policy has changed over the last decade and continues to evolve today. Before the 2008 financial crisis, policymakers used one set of instruments to achieve the target rate. However, several policy interventions introduced soon after the crisis drastically altered the landscape of the federal funds market. This new and uncertain environment, with enormous reserves, necessitated a new set of instruments for monetary policy implementation. Lately, after December 2015, as the FOMC began to unwind the effects of these policy interventions, some questions arise: What rules will be followed by the Fed? What happens next as the federal funds market converges to a “new normal”? How effective will be the new policy? Can the Fed prevent a new crisis? The federal funds rate is very low and affects negatively the financial markets (bubbles are growing), the real rates of interest, and the deposit rates, which means the true economic welfare is falling and a new global recession is in preparation, if the latest easy money policy will continue.

scholarly journals Impact of declining interest rates on European primary bond market

2017 ◽  
Vol 14 (2) ◽  
pp. 328-335
Author(s):  
Robert Verner ◽  
Peter Remiáš
Keyword(s):  
Economic Growth ◽  
Interest Rates ◽  
Public Debt ◽  
Global Market ◽  
Bond Market ◽  
Debt Financing ◽  
Political Risks ◽  
Low Interest Rates ◽  
The Impact ◽  
Over Time

The aim of this paper is to examine the growing popularity of debt financing in European based subjects. The development of issued volume was examined on the sample of 9,293 public debt offerings denominated in EUR issued between 30th November 2007 and 30th November 2016 and the impact of declining market interest rates on primary bond market was explored. More than 7.666 trillion EUR of debt were analyzed and the results indicate that despite low interest rates, the volume of issued bonds does not increase over time. Decline of interest rates only compensates slow economic growth as well as increasing global market and political risks.

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