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Book part
Publication date: 13 December 2013

Alfred Galichon

We provide a geometric formulation of the problem of identification of the matching surplus function and we show how the estimation problem can be solved by the…

Abstract

We provide a geometric formulation of the problem of identification of the matching surplus function and we show how the estimation problem can be solved by the introduction of a generalized entropy function over the set of matchings.

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Structural Econometric Models
Type: Book
ISBN: 978-1-78350-052-9

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Book part
Publication date: 15 July 2017

Farzad Taheripour and Wallace E. Tyner

The purpose of this chapter is to ask and answer the question of what would happen if Genetically Modified Organism (GMO) plant materials were banned. We report on two…

Abstract

The purpose of this chapter is to ask and answer the question of what would happen if Genetically Modified Organism (GMO) plant materials were banned. We report on two studies – one with United States only ban and one with a global ban. We used a global computable general equilibrium (CGE) model, Global Trade Analysis Project (GTAP), for the analysis. This model has been used in hundreds of published papers on trade, energy, land use, and environmental issues. Our use of the model was to estimate the crop yield benefits for the major GMO crops, and then to convert this to a loss if the GMO traits were banned. We then shocked the GTAP model with the yield losses and estimate economic, land use, and greenhouse gas (GHG) emission impacts. We found that losing the GM technology would cause commodity and food prices to increase and also bring about a significant increase in GHG emissions. The increase in emissions is caused by the need to convert forest and pasture to compensate for the lost production. Another interesting conclusion of the global ban study is that economic well-being for the United States, the world’s largest GMO user, actually increases with a ban. Many regions that ban or use little GMO varieties like the European Union, India, China, and Japan all see economic well-being decrease. These counterintuitive results are driven mainly by trade patterns. Therefore GMO technology helps agriculture reduce its carbon footprint. Without this technology, agricultural land-use GHG emissions increase as do food prices. Some groups would like to see GMOs banned and also see GHG emissions fall. You cannot have it both ways.

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World Agricultural Resources and Food Security
Type: Book
ISBN: 978-1-78714-515-3

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Book part
Publication date: 25 May 2021

Nihat Doğanalp and Aytuğ Arslan

Introduction: Performance evaluations are a critical tool in evaluating tourism development of countries where the tourism industry provides a significant share of the…

Abstract

Introduction: Performance evaluations are a critical tool in evaluating tourism development of countries where the tourism industry provides a significant share of the GDP. One of the measures used in performance evaluation of the financial decision-making units is economic efficiency. Aim: This study aims at measuring tourism-related technical efficiency performance of six European countries: Spain, Greece, Turkey, France, Italy, and Portugal. Method: Tourism revenue and visitor numbers are referenced as output variables. Within the model, the natural and sociocultural index and substructure index were formed. Data envelopment analysis was applied for these datasets. Results: Considering tourism revenues, Spain, Italy and Greece managed to use their natural and cultural resources efficiently. In contrast to these countries, inefficiency level scores were measured for Turkey, Portugal and France. In the model based upon the number of visitors, all other countries apart from Turkey and Portugal achieved the most efficient score. As for substructure index, the score of decreasing returns to scale for the countries of Italy and Spain in terms of tourist numbers is noteworthy. Conclusion: The implementation of efficient tourism policies and strategies hold great importance in terms of tourism efficiency. Implications: Even though Portugal and Turkey are rich in both natural and cultural assets, low scores seem to stem from failure to realize their potentials. Strategies should be developed to diversify tourist products. Originality of the Paper: This study differs from other studies in the literature with regard to the composition of the wide input components.

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Contemporary Issues in Social Science
Type: Book
ISBN: 978-1-80043-931-3

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Book part
Publication date: 23 January 2023

Pietro Garibaldi, Espen R. Moen and Christopher A. Pissarides

We discuss the connections between epidemiology models and the search and matching (SAM) approach and draw conclusions about modeling the trade-offs between lockdowns and…

Abstract

We discuss the connections between epidemiology models and the search and matching (SAM) approach and draw conclusions about modeling the trade-offs between lockdowns and disease spread. We review the pre-COVID epidemics literature, which was mainly by epidemiologists, and the post-COVID surge in economics papers that use meeting technologies to model the trade-offs. We argue that modeling the decentralized equilibrium with economic trade-offs gives rise to substantially different results from the earlier epidemics literature, but policy action is still welfare-improving because of several externalities.

Book part
Publication date: 30 September 2016

Marina Bianchi

In his essay Against Parsimony (1985), Hirschman argued in favor of “complicating” economic theory. This paper focuses on two of the economic phenomena that, according to…

Abstract

In his essay Against Parsimony (1985), Hirschman argued in favor of “complicating” economic theory. This paper focuses on two of the economic phenomena that, according to Hirschman, are in need of greater complexity.

The first refers to the process of preference formation: a change in tastes that is preceded by the formation of meta-preferences is in fact, for Hirschman, a change in values. These autonomous, reflective kinds of changes, as opposed to non-reflective kinds, do not take place simply in response to price changes. Contrary to the standard economic assumption, de valoribus est disputandum.

The second phenomenon refers to the existence of non-instrumental actions. Striving for truth, love, beauty, justice, and liberty has non-calculable outcomes. According to instrumental reasoning such actions are “a mystery.” Moreover they are often painful to achieve. Why then are they pursued?

According to Hirschman, changes in choice behavior implying changes in values are the expression of a conflict between meta-preferences and preferences, and this, in its turn, is the result of disappointment. If disappointment is with private consumption, social and public commitments can provide alternative values; if, vice versa, disappointment is with public action, private concerns might provide the prevailing values. In discussing these points, I shall show that there are other sources of conflict, besides disappointment, that have both a cognitive and affective dimension and whose effects on preferences might result in altered choices.

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Research in the History of Economic Thought and Methodology
Type: Book
ISBN: 978-1-78560-962-6

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Book part
Publication date: 4 July 2019

Irina S. Ferova, Ekaterina S. Kovanova, Elena V. Kletskova, Rustem T. Yuldashev and Tatiana V. Tkachenko

The purpose of the research is to develop methodological approach to evaluation of effectiveness of development of “conflict-free” socio-economic system.

Abstract

Purpose

The purpose of the research is to develop methodological approach to evaluation of effectiveness of development of “conflict-free” socio-economic system.

Methodology

The fundamental platform of the research is the classic approach to evaluation of effectiveness of managerial practice in socio-economic system.

Conclusions

A methodological approach to evaluation of effectiveness of development of “conflict-free” socio-economic system is developed; it envisages calculating the ratio of aggregate results (including advantages) from “conflict-free” development of systems to aggregate expenditures for management of conflicts. Successful approbation of this approach by the example of modern “conflict-free” socio-economic systems – Turkey and Japan – showed its readiness for practical application. The obtained results show that in Turkey in 2018 the effectiveness of development of “conflict-free” socio-economic system is acceptable (normal), as the value of the calculated Erbs index is in the interval (1,5;2), that is the results of managing the conflicts exceed the expenditures. In Japan in 2018, effectiveness of development of “conflict-free” socio-economic system is very high, as the value of the calculated Erbs index is in the interval (2;3) – that is, expenditures for management of conflicts are minimum, and results are very high.

Originality/value

Advantages of the developed methodological approach to evaluation of effectiveness of development of “conflict-free” socio-economic system, which emphasize perspectives of its practical application, are the detailed structure, variability, and universal character.

Article
Publication date: 5 June 2020

Aleksei V. Bogoviz, Anna V. Shokhnekh, Elena S. Petrenko and Elizaveta A. Milkina

The purpose of the paper is to develop the scientific and methodological provision for measuring and managing the social effectiveness of the market economy and its approbation.

Abstract

Purpose

The purpose of the paper is to develop the scientific and methodological provision for measuring and managing the social effectiveness of the market economy and its approbation.

Design/methodology/approach

With foundation on the classical idea of effectiveness as a ratio of results to costs, and with acknowledgment of incompatibility and inequality of the elements of social effectiveness and the necessity of their ranking, the authors' formula for its evaluation is presented, and the methodology of its application is offered.

Findings

It is substantiated that the economic component of effectiveness of the market economy might have no connection with its social component, moreover, these two components could enter a vivid contradiction. This contradiction is especially vivid in countries with developed market economy. As the example of the USA shows despite the high global economy its market economy shows average statistical social effectiveness. While the experience of Russia shows that even with moderate global competitiveness of the market economy, it is possible to achieve its high social effectiveness. Advantages are achieved due to other social effects – active development of human potential and using the opportunities of the digital economy for social purposes. Social effectiveness of the Russian economy is assessed at 1.602.

Originality/value

The determined differences in the level of social effectiveness of developed and developing market economy predetermined the necessity for applying different measures to manage this effectiveness. A cyclic algorithm for managing the social effectiveness of developed and developing markets has been developed from the examples of the USA and Russia in 2019. It shows that perspectives of increasing the social effectiveness of certain market economies and leveling the disproportions of social effectiveness in the modern global economic system are connected to change of the measures of management with results and costs and for avoiding their mutual neutralization, the authors offer scientific and practical recommendations.

Details

International Journal of Sociology and Social Policy, vol. 41 no. 1/2
Type: Research Article
ISSN: 0144-333X

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Article
Publication date: 16 July 2018

Alexander Bleck

This paper aims to study the design of bank capital regulation and points out a conceptual downside of risk-sensitive regulation. The author argues that when a bank is…

Abstract

Purpose

This paper aims to study the design of bank capital regulation and points out a conceptual downside of risk-sensitive regulation. The author argues that when a bank is better informed about its risk than the regulator, designing regulation is subject to the Lucas critique. The second-best regulation could be risk-insensitive, which provides an explanation for the leverage ratio as a backstop to risk-based capital requirements. This paper offers empirical predictions and implications for policy.

Design/methodology/approach

The argument in the paper is based on analytical results from mechanism design.

Findings

Optimal bank regulation could be risk-insensitive, as is observed in practice in the form of the leverage ratio rule.

Originality/value

Counter to conventional wisdom, the paper argues and provides a new explanation for why bank regulation should not be sensitive to the risk of the bank. The paper then offers empirical predictions and implications for policy.

Article
Publication date: 29 April 2020

Elena Popkova

The purpose of the paper is to model the modern global practice of social management of human capital – at the state and corporate levels – to determine the perspectives…

Abstract

Purpose

The purpose of the paper is to model the modern global practice of social management of human capital – at the state and corporate levels – to determine the perspectives of its optimization and to develop the basic principles of a new methodological approach to social management of human capital, which is preferable in the conditions of social market economy.

Design/methodology/approach

The author uses mathematical tools, including correlation and regression analysis. These are applied to determine the influence of each of the 12 indicators for the labor market that are presented as part of The World Economic Forum's (WEF’s) ”The Global Competitiveness Report 2019” on The United Nations Development Programme's (UNDP) Human Development Index. The research objects are countries from each of the four categories of nations, as distinguished by UNDP, in the Human Development Index. By unifying the 2019 data from UNDP and WEF, a data set is formed.

Findings

It is substantiated that in modern economic practice, it is impossible to achieve the “ideal” conditions necessary for applying existing methodological approaches to the social management of human capital, which reduces how effectively current approaches function. Foundation on the existing methods leads to uncertainty as to management of human capital, which is social by 95.14% in 2019. Though the achieved value of the social management of human capital is close to being optimal, it is still not enough to achieve a high level of human development, which was 0.685 on average for the global economy in 2019 and is likely to increase by 31.43% until 2025, for acknowledging the social market status of the modern economy.

Originality/value

It is proven that there is a need for a new, mixed, methodological approach to the social management of human capital, which would optimally combine the best practices of both state and corporate management. The principles for the practical implementation of such an approach are offered, and proposals are developed to substantiate the contribution of this approach to the achievement of the global goals of sustainable development.

Article
Publication date: 14 May 2019

Charles B. Moss and Andrew Schmitz

The purpose of this paper is to examine investments in selected Feed the Future countries in Africa.

Abstract

Purpose

The purpose of this paper is to examine investments in selected Feed the Future countries in Africa.

Design/methodology/approach

The authors examine three investments in Feed the Future countries (e.g. Rwanda and Uganda) in the context of non-traded goods, exports and imports. These investments include research and development in Ugandan cassava production, a value chain intervention in the coffee market channel in Rwanda and a program to increase the use of fertilizer for maize production in Rwanda. The authors also stress the importance of distributional impacts in terms of policymaking.

Findings

The results show that while there can be net gains from each investment discussed, the distributional effects of each are very different.

Originality/value

The findings will be useful for the development community and agribusiness policymaking.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. 9 no. 1
Type: Research Article
ISSN: 2044-0839

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