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on Macroeconomics |
| By: | Javier Bianchi; Louphou Coulibaly |
| Abstract: | What is the optimal monetary policy response to tariffs? This paper explores this question within an open-economy New Keynesian model and shows that the optimal monetary policy response is expansionary, with inflation rising above and beyond the direct effects of tariffs. This result holds regardless of whether tariffs apply to consumption goods or intermediate inputs, whether the shock is temporary or permanent, and whether tariffs address other distortions. |
| Keywords: | Tariffs; Inflation; Optimal monetary policy |
| JEL: | F41 E24 E44 E52 F13 |
| Date: | 2025–03–07 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedmwp:99705 |
| By: | Giovanardi, Francesco; Kaldorf, Matthias |
| Abstract: | We study optimal monetary policy in an analytically tractable New Key-nesian DSGE-model with an emission externality. Empirically, emissions are strongly pro-cyclical and output in the flexible price equilibrium overreacts to productivity shocks, relative to the efficient allocation. At the same time, output under-reacts relative to the flexible price allocation due to sticky prices. Therefore, it is not optimal to simultaneously stabilize inflation and to close the natural output gap, even though this would be feasible. Real externalities affect the LQ-approximation to optimal monetary policy and we extend the analysis of Benigno and Woodford (2005) to inefficient flexible price equilibria. For central banks with a dual mandate, optimal monetary policy places a larger weight on output stabilization and targets a non-zero natural output gap, implying a higher optimal inflation volatility. |
| Keywords: | Optimal Monetary Policy, Carbon Emissions, Output Gap, Central Bank Loss Function, Phillips Curve |
| JEL: | E31 E58 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:bubdps:313014 |
| By: | Haavio, Markus; Heikkinen, Joni; Jalasjoki, Pirkka; Kilponen, Juha; Paloviita, Maritta |
| Abstract: | We study the evolution of the European Central Bank's (ECB) monetary policy since July 2021, following the adoption of a new strategy and amid a period of volatile inflation. Utilizing text analysis, we assess changes in the general sentiment of the ECB's communication. Additionally, we employ topic modeling to develop an inflation focused tone index. By integrating these tone indices with real-time data from monetary policy meetings, we directly estimate the ECB's loss function. Our findings indicate a recent shift towards a more inflation-centered communication approach by the ECB. Preliminary results also suggest that the ECB's policy preferences have become more symmetric since July 2021. |
| Keywords: | asymmetric loss function, central bank communication, textual analysis, topic model, optimal monetary policy |
| JEL: | E31 E52 E58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:bofrdp:313643 |
| By: | Tesfaye, Wondimagegn Mesfin |
| Abstract: | Ces derniers temps, on constate un regain d'interet pour la diversification des cultures en tant que strategie permettant de faire face a divers problemes, notamment la malnutrition dans le contexte d'un climat changeant et de marches peu developpes. Toutefois, la base de donnees empiriques justifiant cette position politique est limitee. Cette recherche vise a contribuer a la litterature croissante et au discours politique en fournissant des preuves empiriques de l'impact de la diversification des cultures sur la croissance des enfants en utilisant des donnees d'enquete de panel, combinees a des donnees meteorologiques historiques. L'etude montre que la diversification des cultures a un impact positif mais faible sur la croissance des enfants. Les resultats de l'analyse des effets heterogenes montrent que les effets positifs sont plus prononces dans les zones ou l'acces aux marches est limite. L'etude demontre que les effets positifs de la diversification des cultures sur la croissance des enfants pourraient etre mediatises par ses impacts positifs sur la diversite du regime alimentaire des menages, la qualite du regime alimentaire et le revenu. |
| Date: | 2024–04–10 |
| URL: | https://d.repec.org/n?u=RePEc:aer:wpaper:b73532c7-4431-427e-953b-1ac4ac2056bd |
| By: | Fedor Sandomirskiy; Po Hyun Sung; Omer Tamuz; Ben Wincelberg |
| Abstract: | We study finite normal-form games under a narrow bracketing assumption: when players play several games simultaneously, they consider each one separately. We show that under mild additional assumptions, players must play either Nash equilibria, logit quantal response equilibria, or their generalizations, which capture players with various risk attitudes. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2502.11243 |
| By: | Haq, Ainin |
| Abstract: | The digital economy has revolutionized the way businesses operate and has reshaped consumer culture and educational concerns. This review paper delves into the intricate relationship between Management Information Systems (MIS), educational concerns, and consumer culture in the digital economy. Our primary objective is to analyze how MIS influence educational concerns and, in turn, how these concerns impact consumer culture. To achieve this, a systematic literature review was conducted, comprising a comprehensive search of scholarly databases. The results reveal that MIS play a central role in educational institutions, streamlining administrative processes but concurrently raising concerns about data security and digital literacy. This interaction between MIS, educational concerns, and consumer culture underscores the need for continuous research and adaptability in the evolving digital landscape, where ethical considerations regarding data privacy and usage are paramount. |
| Date: | 2023–11–03 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:6n8ht_v1 |
| By: | , Hasmarina |
| Abstract: | Marketing mix merupakan bentuk strategi yang dilakukan perusahaan dengan tujuan maksimalisasi penjualan, mejalin hubungan baik dengan konsumen, pengembangan agar bisa sustainable, bahan evaluasi, dan dapat memperoleh kesejahteraan baik materil maupun spiritual. Adapun marketing mix secara umum memiliki empat elemen yaitu product, price, place, dan promotion. Dalam perspektif Islam terdapat satu tambahan elemen yaitu people. People disini juga menjadi elemen yang penting sebagai subjek yang menjalankan hal terkait sehingga people yang mengimplementasikan ini haruslah sejalan dengan syariat Islam dan selalu mematuhi etika sesuai dengan perspektif Islam. Nokia menjadi bentuk nyata kegagalan perusahaan dalam marketing mixnya yang akhirnya sangat berdampak pada penjualan mereka. Nokia yang saat itu tidak mau bekerja sama dengan android menjadi titik mula kesalahan Nokia dalam mengambil langkah karena tidak ingin mengikuti perkembangan teknologi dan menganggap teknologi yang mereka gunakan akan tetap menjadi pilihan utama konsumen. |
| Date: | 2023–11–18 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:kxbhp_v1 |
| By: | Akcigit, Ufuk; Chhina, Raman S.; Cilasun, Seyit Mümin; Miranda, Javier; Serrano-Velarde, Nicolas |
| Abstract: | Utilizing near real-time QuickBooks data from over 1.6 million small businesses and a targeted survey, this paper highlights the critical role credit card financing plays for small business activity. We examine a two year period beginning in January of 2021. A turbulent period during which, credit card usage by small U.S. businesses nearly doubled, interest payments rose by 60%, and delinquencies reached 2.8%. We find, first, monthly credit card payments were up to three times higher than loan payments during this time. Second, we use targeted surveys of these small businesses to establish credit cards as a key financing source in response to firm-level shocks, such as uncertain cash flows and overdue invoices. Third, we establish the importance of credit cards as an important financial transmission mechanism. Following the Federal Reserve's rate hikes in early 2022, banks cut credit card supply, leading to a 15.75% drop in balances and a 10% decline in revenue growth, as well as a 1.5% decrease in employment growth among U.S. small businesses. These higher rates also rendered interest payments unsustainable for many, contributing to half of the observed increase in delinquencies. Lastly, a simple heterogeneous firm model with a cash-in-hand constraint illustrates the significant macroeconomic impact of credit card financing on small business activity. |
| Keywords: | credit, credit cards, entrepreneurship, job creation, small businesses, turnover |
| JEL: | J23 J63 O47 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:iwhdps:313647 |
| By: | Martha Sanchez Galvis; Luz Rodriguez-Novoa |
| Keywords: | Agriculture-Fisheries & Aquaculture |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41934 |
| By: | World Bank |
| Keywords: | Energy-Renewable Energy Environment-Climate Change and Environment Finance and Financial Sector Development-Access to Finance |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41646 |
| By: | Yu, Chen |
| Abstract: | In the epoch where artificial intelligence (AI) has become the harbinger of civilization's progress, the integration of cultural inheritance and identity into AI development emerges as a pivotal concern, especially for non-Western societies. "The Garden of Forking Paths: Options for Non-Western Societies in the Age of AI" explores the nuanced landscape that these societies navigate in the age of AI, juxtaposing the risks of cultural homogenization against the potential for cultural reinforcement through AI. The article delves into the metaphor of forking paths to depict the complex decisions and strategies that non-Western countries face in preserving their cultural uniqueness amidst the global AI revolution. It outlines a series of strategic interventions, including the formulation of culturally-rooted AI ethics guidelines, leveraging AI to promote heritage and languages, fostering participatory AI development, creating indigenized AI solutions, and encouraging cross-cultural AI dialogue and collaboration. These strategies are proposed as avenues to ensure that AI development not only respects but also enriches the cultural diversity of the global community. The article concludes with a call to action for stakeholders across the globe to engage in the co-creation of an AI future that is inclusive, respectful, and reflective of the rich tapestry of human cultures, thereby shaping an AI legacy that complements and enhances cultural inheritance. |
| Date: | 2024–02–22 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:bk8q2_v1 |
| By: | World Bank |
| Keywords: | Governance-International Governmental Organizations Energy-Energy Finance Energy-Energy Resources Development Energy-Energy and Natural Resources Energy-Hydro Power Energy-Renewable Energy Environment-Forests and Forestry Energy-Solar Energy Energy-Windpower |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41675 |
| By: | World Bank |
| Keywords: | Information and Communication Technologies-ICT Data and Statistics Information and Communication Technologies-ICT Applications Information and Communication Technologies-Information Security & Privacy |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41794 |
| By: | World Bank |
| Keywords: | Health, Nutrition and Population-Health Policy and Management Health, Nutrition and Population-Communicable Diseases Health, Nutrition and Population-Health Service Management and Delivery Health, Nutrition and Population-Reproductive Health |
| Date: | 2024–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41362 |
| By: | Yoshiki Ando (Boston University); Emin Dinlersoz (Bureau of the Census); Jeremy Greenwood (University of Pennsylvania); Ruben Piazzesi (University of Pennsylvania) |
| Abstract: | Abstract The adoption of advanced technologies has important implications for employment and growth. The analysis of firm-level data from US Census Bureau indicates that firms with advanced technologies are disproportionately backed by venture capital (VC). While both advanced technology use and VC backing separately matter significantly for firm outcomes, VC backing has a larger effect on firms with advanced technology. A model of startups is constructed featuring decisions to use advanced technology and VC. The model is matched up with facts about firms' employment, technology use, and VC reliance. The implications of business taxation and subsidies are studied, and the significance of the availability of advanced technology and VC in the economy is quantified. |
| Keywords: | Advanced technology, banks, capital gains taxation, corporate income taxation, difference-in-difference analysis, employment, firm-level data, reallocation effect, startups, subsidies, synergy, venture capital, technology adoption, US Census data |
| JEL: | O30 O40 G20 |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:eag:rereps:40 |
| By: | Athanasia Chalari |
| Abstract: | One of Brexit’s aftermaths, has affected those UK residents who had been identified as ‘EU citizens’ prior Brexit, and re-identified as ‘immigrants’ after Brexit. Based on the case of 30 indepth interviews with Greeks (European citizens), residing in UK between 5 and 20 years, this study explores identity transition as participants negotiate their citizenship and immigration identities. The main findings of this phenomenological study depict four aspects of identity negotiations (primarily involving ethnic, citizenship and immigration identities): a) erroneous resemblance between civic and cultural European identity, b) tendencies of prejudice towards non-European identities, c) coherent albeit unproblematic lack of belonging towards the host culture and d) underlying conflicting identity perceptions and experiences signalling ongoing identity(ies) in transition. |
| Keywords: | Brexit, transitional, citizenship, immigration, ethnic identities |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:hel:greese:206 |
| By: | V.M.E. Perego; M. Brown; F. Ceballos; M. Hernandez; M.L. Berrospi; L. Flores; E. Mora |
| Keywords: | Agriculture-Agribusiness Agriculture-Food Security Agriculture-Food Markets |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41665 |
| By: | Putri, Syifa Ariella |
| Abstract: | Dalam dunia nyata, perusahaan sering menggunakan istilah “pusat laba” dibandingkan “pusat Investasi” karena pusat investasi adalah jenis istimewa dari pusat laba dan bukan kategori terpisah. Banyak masalah yang terlibat dalam mengukur aktiva yang digunakan oleh pusat laba. Jenis /kumpulan aktiva yang digunakan oleh suatu pusat investasi disebut: dasar investasi. Dua metode menghubungkan laba dengan dasar investasi, yaitu: Persentase tingkat pengembalian atas investasi (return on investment – ROI), dan nilai tambah ekonomi (economic value added – EVA). |
| Date: | 2023–11–02 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:rtwc9_v1 |
| By: | World Bank |
| Keywords: | Environment-Ecosystems and Natural Habitats Environment-Forests and Forestry |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:42324 |
| By: | Amalia, Welli Siti |
| Abstract: | 1 Who Are Managers ? (Siapa sih Manajer itu?) Manajer adalah seseorang yang bertugas atau yang bertanggung jawab untuk mengkordinasikan segala keseluruhan dan memantau pekerjaan dari orang lain. Dimana dari aktivitas yang dilakukan manajer tersebut organisasi mampu mencapai tujuannya. Sedangkan Organisasi adalah sekumpulan orang yang satu sama lain berinteraksi, bekerja sama mengerjakan tugas-tugas yang saling berkaitran untuk mencapai satu tujuan yang telah ditetapkan. Didalam organisasi terdapat banyak aspek salah satunya ada orang-orang. Orang-orang yang ada didalam organisasi dibagi menjadi 2, yaitu : 1. Managerial (Manajer) Yaitu orang yang diberikan kewenangan, otoritas untuk mengkordinasikan, memantau, mengontrol pekerjaan orang lain (para staf / para bawahan). Sehingga manajer harus mampu menggerakan para karyawannya untuk menggerakkan segenap potensi yang dimilikinya dalam rangka mencapai tujuan. 2. Non Managerial / Employees (Karyawan biasa) |
| Date: | 2023–11–02 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:98psg_v1 |
| By: | Diallo, Mamadou Abdoulaye; Diallo, Soukeyna; Sika, Mashoudou Maman Chabi |
| Abstract: | The aim of this study was to assess the effect of return migration on labour market integration in Senegal. To this end, we based the study on the recent survey on international migration in Senegal (EMIS-2019), data for which were collected by the Consortium for Economic and Social Research (Consortium pour la recherche economique et sociale, CRES) in collaboration with the World Bank. We used the two-stage residual inclusion (2SRI) method and complemented it by an instrumental variable (IV) approach to account for the potential selection bias associated with return migration. The findings show that return migration had a positive and significant effect on labour market integration. Specifically, the results show that their migration status in the host country, the mode of their return to their country of origin, the skills they acquired in the host country, and their social capital played an important role in their economic reintegration after their return. This study therefore stresses the need for return-migration incentive policies and support for labour market integration of the return migrants. |
| Date: | 2024–08–05 |
| URL: | https://d.repec.org/n?u=RePEc:aer:wpaper:7401bbec-0ed2-431f-bee4-b27f21171b3c |
| By: | Ayu, Putri |
| Abstract: | Pusat Pertanggungjawaban bertujuan untuk menyelesaikan satu atau lebih tugas untuk mencapai tujuan organisasi. Hubungan input-output yaitu ada yang secara langsung, contohnya departemen produksi, fokus pengendalian, yaitu untuk menghasilkan output yang diinginkan sesuai dengan standar yang diinginkan, serta ada yang hubungan mereka tidak langsung, contohnya biaya iklan |
| Date: | 2023–11–02 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:kam7z_v1 |
| By: | Corredera Barbado, Alberto; Ruiz Mora, Carlos; Prieto Fernández, Francisco Javier |
| Abstract: | In this work, we present a novel approach based on the combination of Gaussian Mixture Models (GMM) and Chance-Constrained Optimization (CCO). The method proposed deals with the often difficult task of deriving exact estimates of the individual constraint quantiles in the presence of uncertainty for some or all of the optimization problem parameters. Although COO solution methods have been extensively studied when uncertainty is assumed to be normally distributed, only approximate solutions are considered when the uncertainty is not normal. We propose a reformulation of the COO problem that provides exact and tractable solutions. The performance of the method has been studied under different GMM parameterizations in simulated and real-world applications. |
| Keywords: | OR in energy; Data-driven; Chance-constrained optimization; Quantile estimation; Gaussian Mixture |
| Date: | 2025–03–17 |
| URL: | https://d.repec.org/n?u=RePEc:cte:wsrepe:46291 |
| By: | Amelia, Sonia Pebrianti; Kurniawan, Asep |
| Abstract: | transaksi ekonomi dalam islam |
| Date: | 2023–11–04 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:6rybu_v1 |
| By: | World Bank |
| Keywords: | Environment-Adaptation to Climate Change Environment-Climate Change Impacts Private Sector Development-Land and Real Estate Development Communities and Human Settlements-Land Administration Communities and Human Settlements-Land Use and Policies Environment-Natural Resources Management |
| Date: | 2024–05 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41524 |
| By: | Moehring, Alex |
| Abstract: | Digital platforms increasingly curate their content through personalized algorithmic feeds. Platforms have an incentive to promote content that increases the predicted engagement of each user to lift advertising revenues. This paper studies how ranking content to maximize engagement affects the credibility of news content with which users engage. In addition, I evaluate how the ranking algorithm itself can be designed to promote engagement with high-credibility content. Using data from the Reddit politics community, I exploit a novel discontinuity in the ranking algorithm to identify the causal effect of a post's rank on the number of comments it receives. I use this discontinuity to identify a model of user comment decisions and estimate the credibility of news content that users engage with under a personalized engagement-maximizing algorithm. The personalized engagement-maximizing algorithm exacerbates differences in the credibility of news content with which users engage. I then evaluate a credibility-aware algorithm that explicitly promotes credible news publishers and find the platform can substantially increase the share of engagement with high-credibility publishers for a small reduction in total engagement. These findings suggest algorithmic interventions can be a useful tool for managers to balance engagement quantity and content quality. |
| Date: | 2024–01–31 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:8yuwe_v1 |
| By: | Bertrand, Nguenkwe Ronie |
| Abstract: | This study explores the ways of facilitation and enhancing intra- Central African Economic and Monetary Community (CEMAC) trade, which has remained structurally weak over more than twenty years, by focusing on the East African Community and the West African Economic and Monetary Union (WAEMU). The study uses a descriptive analysis of trade and the indicators of facilitation of trade in those three communities. An econometric analysis of factors underlying the level of trade in those three communities is conducted using an augmented gravity model. The econometric results demonstrate that the number of POLICY BRIEF Facilitating Regional Trade: Lessons from WAEMU and EAC on How to Increase Trade in CEMAC Nguenkwe Ronie Bertrand October 2023 / No.807 2 Policy Brief No.807 documents and the number of days required to export has a negative and significant impact on trade in EAC and WAEMU, but a positive impact in CEMAC. Infrastructure services, notably the use of the Internet have a negative impact on intra-zone trade in EAC |
| Date: | 2024–04–10 |
| URL: | https://d.repec.org/n?u=RePEc:aer:wpaper:101b1645-09a9-45cf-9eb8-9c340ec2a154 |