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This paper seeks to explore the sensitivity of these parameters and their impact on fiscal policy outcomes. We use the existing literature to establish possible ranges for each parameter, and we examine how changes within these ranges can alter the outcomes of fiscal policy. In this way, we aim to highlight the importance of these parameters in the formulation and evaluation of fiscal policy.

The role of fiscal policy, its effects and multipliers continues to be a subject of intense debate in macroeconomics. Despite adopting a New Keynesian approach within a macroeconomic model, the reactions of macroeconomic variables to fiscal shocks can vary across different contexts and theoretical frameworks. This paper aims to investigate these diverse reactions by conducting a sensitivity analysis of parameters. Specifically, the study examines how key variables respond to fiscal shocks under different parameter settings. By analyzing the behavioral dynamics of these variables, this research contributes to the ongoing discussion on fiscal policy. The findings offer valuable insights to enrich the understanding of the complex relationship between fiscal shocks and macroeconomic outcomes, thus facilitating informed policy debates.

This paper aims to investigate key elements of New Keynesian Dynamic Stochastic General Equilibrium (DSGE) models. The focus is on the calibration of parameters and their impact on macroeconomic variables, such as output and inflation. The study also examines how different parameter settings affect the response of monetary policy to fiscal measures. In conclusion, this study has relied on theoretical exploration and a comprehensive review of existing literature. The parameters and their relationships have been analyzed within a robust theoretical framework, offering valuable insights for further research on how these factors influence model forecasts and inform policy recommendations derived from New Keynesian DSGE models. Moving forward, it is recommended that future work includes empirical analyses to test the reliability and effectiveness of parameter calibrations in real-world conditions. This will contribute to enhancing the accuracy and relevance of DSGE models for economic policy decision-making.

This study is motivated by the aim to provide a deeper understanding of the roles macroeconomic model parameters play concerning responses to expansionary fiscal policies and the subsequent reactions of monetary authorities. Comprehensive reviews that encompass this breadth of relationships within a single text are rare in the literature, making this work a valuable contribution to stimulating discussions on macroeconomic policies.

This paper is a dedication to Professor Ngo Van Long who introduced the idea of Kant–Nash equilibrium. The author extends this analysis to the study of adult and child labor markets.

This is a game theoretic analysis of the market for adult and child workers when some firms behave in the neoclassical Nashian way and some firms follow a Kantian social norm.

The presence of Kantian firms in the output market in addition to Nashian lowers industry output and labor demand. This raises the possibility that Kantian behavior in the output market could lower wages sufficiently and increase the incidence of child labor. If firms engage in Kantian behavior in the labor market by not hiring child workers, adult wage rises but could lower child wage as children if they work can only work for Nashian firms. When labor demand is sufficiently high, more Kantians could raise adult wage above subsistence and eliminate child labor supply.

This is the first paper to apply Kant–Nash equilibrium to the labor market. The result that Kantian behavior could have an unintended negative spillover effect in other markets is new. The paper keeps alive the ideas of Professor Long, which hopefully will stimulate further work and build on his ideas.

This article investigates the long-run impact of remittance inflows on agricultural productivity (AGP) in emerging Asian economies (Bangladesh, Sri Lanka, Malaysia, India, Nepal, Philippines, Pakistan, and Vietnam), employing a panel dataset from 2000 to 2018.

This study initially applies cross-sectional dependence (CSD), second-generation unit root, Pedroni, and Westerlund panel co-integration techniques. Next, it uses the augmented mean group (AMG) and common correlated effect mean group (CCEMG) methods to investigate the long-term impact of remittance inflows on AGP while controlling for several other important determinants of agricultural growth, such as cultivated area, fertilizers, temperature change, credit, and labor force.

The empirical findings are as follows: The results first revealed the existence of CSD and long-term co-integration between AGP and its determinants. Second, remittance inflows significantly boosted AGP, indicating that remittance inflows played a crucial role in improving AGP. Third, global warming (changes in temperature) negatively impacts AGP. Finally, additional critical elements, for instance, cultivated area, fertilizers, credit, and labor force, positively affect AGP.

This study suggests that policymakers of emerging Asian economies should develop an exclusive remittance-receiving system and introduce remittance investment products to utilize foreign funds and mitigate agricultural production risks effectively.

This is the first empirical examination of the long-term impact of remittance flows on agricultural output in emerging Asian economies. This study utilized robust estimation methods for panel data sets, such as the Pedroni, Westerlund, AMG, and CCEMG tests.

Relationships have changed dramatically in the last 50 years. Fewer couples are marrying, more are cohabiting. Reasons for this shift include more attractive labor market opportunities for women and changing social norms, but the shift may have consequences of its own. A number of models predict that those cohabiting will specialize less than those marrying. Panel data on time use – particularly housework time – as well as on the degree of specialization in more narrowly defined household tasks from the 2001–2019 waves of the Household, Income and Labour Dynamics in Australia survey are used to test this prediction.

The time use data for men provides only limited supporting evidence for specialization. The results for women are much stronger. Women who marry without first cohabiting increase their reported housework time more than those who enter cohabitations (by 3.7 hours versus 1.2 hours). The latter generally make up a third of the difference if they do marry. Expanding the analysis to other uses of time yields some further evidence of specialization.

Survey responses on the degree of specialization are more informative. The raw data show substantial intrahousehold specialization and further analysis reveals that on average married couples specialize more than cohabiting couples. Adding couple-specific fixed effects reveals that specialization increases when cohabiting couples marry. Interestingly, there does not appear to be a substantial tradeoff between tasks; partners who report specializing more on one task are more likely to report specializing on other tasks as well. Given the important roles couples have in family formation and the labor market, it is important to understand this intrahousehold behavior.

We make use of rich microdata from the Belgian MEqIn survey, which contains detailed information on individual consumption, public consumption inside households, and time use. We explain the observed household behavior by means of a collective model that integrates marriage market restrictions on intrahousehold allocation patterns. We adopt a revealed preference approach that abstains from any functional form assumptions on individual utility functions or intrahousehold decision processes. This allows us to (set) identify the sharing rule, which governs the intrahousehold sharing of time and money, and to quantify economies of scale within households. We use these results to conduct a robust individual welfare and inequality analysis, hereby highlighting the important role of detailed consumption and time use data.

The study aims to examine the patterns of time allocated to paid employment activities by women in India as well as change in time allocating pattern of women over the period 1998 to 2019. In doing so, it attempts to highlight gender-asymmetry of time use and heterogeneity in time use of women residing in urban and rural areas as well as variations in time use by marital status, motherhood and age.

Using unit-level data from two available Time Use Surveys (TUS) namely the Pilot Survey TUS 1998 and first nationally representative TUS 2019, the authors use Tobit model to estimate determinants of women’s time in employment. To explain the change in time spent on paid work by women over the two decades, the authors use counterfactual quantile regression decomposition.

The gender asymmetry in time allocation is stark, with women spending one fifth time compared to men paid employment activities. Over the two decades of interest, women’s time spent on employment activities in a day has reduced by half from around 4 h to 2 h, largely driven by rural women’s time. Regression results suggest the emergence of a “U-shaped” relationship between time spent on paid work and education of women. The counterfactual decomposition results suggest that women are spending lesser time on employment activities in 2019 than in 1998 across the time distribution.

This paper contributes to a novel understanding of time use by women in a developing country by analysing the changes in time use over two decades as well as distributional sensitivity to observed characteristics. The study informs about the intensive margins of female employment by incorporating dynamics of socio-economic development.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-03-2022-0164.

The authors explore the hypothesis that some movements in commodity prices are anticipated (news shocks) and can trigger aggregate fluctuations in small open emerging economies. This paper aims to discuss the aforementioned objective.

The authors build a multi-sector dynamic stochastic general equilibrium model with endogenous commodity production. There are five exogenous processes: a country-specific interest rate shock that responds to commodity price fluctuations, a productivity (TFP) shock for each sector and a commodity price shock. Both TFP and commodity price shocks are composed of unanticipated and anticipated components.

The authors show that news shocks to commodity prices lead to higher output, investment and consumption, and a countercyclical movement in the trade-balance-to-output ratio. The authors also show that commodity price news shocks explain about 24% of output aggregate fluctuations in the small open economy.

Given the importance of both anticipated and unanticipated commodity price shocks, policymakers should pay attention to developments in commodity markets when designing policies to attenuate the business cycles. Future research should investigate the design of optimal fiscal and monetary policies in SOE subject to news shocks in commodity prices.

This paper contributes to the knowledge of the sources of fluctuations in emerging economies highlighting the importance of a new source: news shocks in commodity prices.

The aim of this study is to define the aspects of place attachment and their effect on migratory behaviour. It also aims to identify the connection between migration decision-making and workforce supply at the source, as well as to track the impact of adequate employment supplies and the improvement on employment generation.

A primary study was conducted among the migrants who returned back during nationwide lockdown with the help of tested structured questionnaire. The variables identified through review of literature and pilot study are tested using a structural equation modelling model.

The result exhibited that all hypothesised relationships had a positive and significant connection. The overall results showed there is a significant and positive connection between place attachment and migratory behaviour, and both have a positive impact on economic activity.

This survey is conducted in the districts of West Bengal, India. There are several documents on the connection to the place attachment and the migratory behaviour. There are, however, no studies focusing on place attachment and its effect on economic activity on West Bengal, India, where migration is a serious problem. This is the first article that discusses three main concepts together such as place attachment, migratory behaviours and its influence on the economic activity of the districts of West Bengal, India.

This study aims to investigate whether the participation in land rental markets helps to mitigate impacts by climate change on multidimensional poverty in Thailand and Vietnam.

The authors use precipitation data from the National Aeronautics and Space Administration (NASA) and self-reported shocks from the Thailand Vietnam Socio-Economic Panel (TVSEP) project to estimate climate change. Data from the TVSEP are also used to calculate a multidimensional poverty index (MPI). Fixed-effect logit panel regressions with interaction terms are implemented to analyze the above mentioned.

The results show that land rental markets are used as mitigation strategies to climate change in Thailand and Vietnam. The participation in land rental markets also reduces multidimensional poverty. However, as a mitigation strategy, land rental markets are only successful in certain circumstances.

The results show that there is potential in using land rental markets as mitigation strategies to climate change. Further research is needed to better understand which adaptation strategies, besides land rental market participation, and which combinations of different adaptation strategies are successful to mitigate negative effects induced by climate change.

The results show that there is potential in using land rental markets as mitigation strategies to climate change. Therefore, education in the participation in land rental markets and how to use them as a mitigation strategy can be a way to increase households' resilience to negative effects induced by climate change. Households make better decisions regarding their land when they are better informed on the functionality of land rental markets. Additionally, being better informed increases self-confidence to participate in land-rental markets.

Land rental markets as a mitigation strategy to climate change rarely have been studied, and if so, mainly the effect of leasing land has been studied. Additionally, the authors implement new measures of poverty – a multidimensional view on poverty which provides new insights into who are the poor and how they can be lift out of poverty.

The present study aims to compare the effect of international paid remittances on financial development in three Gulf Cooperation Council (GCC) countries from 1985 to 2020.

The study applied the bound cointegration technique and the autoregressive distributed lag (ARDL) method for long- and short-run estimations as well as diagnostic tests to increase robustness.

The ARDL long-run results showed that international paid remittances had a significant negative effect on financial development in Oman and Saudi Arabia but an insignificant negative effect in Bahrain. The error correction model for the short run of the ARDL slowdown model showed that international paid remittances had a significant positive effect on financial development in Oman, Bahrain, and Saudi Arabia.

Few studies have examined remittance outflows from GCC countries, which are enriched by oil wealth and located in one of the most stable geographical areas in the world. The findings from this study can help policymakers understand how to enable remittances and investments in order to establish regulations that will preserve remittance inflows and meet target services.