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Abstract

Details

An Input-output Analysis of European Integration
Type: Book
ISBN: 978-0-44451-088-4

Article
Publication date: 18 November 2021

Timotej Jagric, Stefan Otto Grbenic and Vita Jagric

With high public debts and suffering economies after the COVID-19 pandemic, governments will look for ways to promote recovery. Literature substantially reports on the…

Abstract

Purpose

With high public debts and suffering economies after the COVID-19 pandemic, governments will look for ways to promote recovery. Literature substantially reports on the favorable macroeconomic impact of the healthcare sector.

Design/methodology/approach

The authors use data on 19 European countries. Over 30 variables are analyzed to find factors that foster or suppress the economic impact of the healthcare sector. The economic impact is thereby expressed through five types of total multipliers, acting as dependent variables. The authors estimate multiple econometric models.

Findings

The results indicate factors that intensify or reduce the economic impact of the healthcare sector as they cause the value of one or more economic multipliers to augment or to diminish. Positive effects are expected from the growth of public funds' share in total healthcare expenditure leading to a higher output, income and value-added multipliers. The import multiplier diminishes when expenditure on healthcare as percent of GDP rises. On the other hand, rising expenditure on pharmaceuticals in the share of healthcare expenditure lowers the output multiplier. Rising GDP per capita and higher healthcare systems' technical efficiency cause the employment multiplier to lower.

Originality/value

Policymakers can strengthen the economic impact of the healthcare sector on the national economy. This could be achieved by stimulating factors, being identified in our study. Strengthening the economic impact of the healthcare sector is especially welcomed when fostering economic recovery is needed.

Details

International Journal of Health Governance, vol. 27 no. 1
Type: Research Article
ISSN: 2059-4631

Keywords

Article
Publication date: 13 September 2021

Naresh Kattekola, Amol Jawale, Pallab Kumar Nath and Shubhankar Majumdar

This paper aims to improve the performance of approximate multiplier in terms of peak signal to noise ratio (PSNR) and quality of the image.

Abstract

Purpose

This paper aims to improve the performance of approximate multiplier in terms of peak signal to noise ratio (PSNR) and quality of the image.

Design/methodology/approach

The paper proposes an approximate circuit for 4:2 compressor, which shows a significant amount of improvement in performance metrics than that of the existing designs. This paper also reports a hybrid architecture for the Dadda multiplier, which incorporates proposed 4:2 compressor circuit as a basic building block.

Findings

Hybrid Dadda multiplier architecture is used in a median filter for image de-noising application and achieved 20% more PSNR than that of the best available designs.

Originality/value

The proposed 4:2 compressor improves the error metrics of a Hybrid Dadda multiplier.

Details

Circuit World, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0305-6120

Keywords

Open Access
Article
Publication date: 24 September 2021

Jose Perez-Montiel and Carles Manera

The authors estimate the multiplier effect of government public infrastructure investment in Spain. This paper aims to use annual data of the 17 Spanish autonomous…

Abstract

Purpose

The authors estimate the multiplier effect of government public infrastructure investment in Spain. This paper aims to use annual data of the 17 Spanish autonomous communities for the 1980–2016 period.

Design/methodology/approach

The authors use dynamic acyclic graphs and the heterogeneous panel structural vector autoregressive (P-SVAR) method of Pedroni (2013). This method is robust to cross-sectional heterogeneity and dependence, which are present in the data.

Findings

The findings suggest that an increase in the level of government public infrastructure investment generates a positive and persistent effect on the level of output. Five years after the fiscal expansion, the multiplier effects of government public infrastructure investment reach values above one. This confirms that government public infrastructure investment expansions have Keynesian effects. The authors also find that the multiplier effects differ between autonomous communities with above-average and below-average GDP per capita.

Originality/value

To the best of the authors’ knowledge, no research uses dynamic acyclic graphs and heterogeneous P-SVAR techniques to estimate fiscal multipliers of government public investment in Spain by using subnational data.

Details

Applied Economic Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN:

Keywords

Article
Publication date: 17 August 2021

Rafael Acevedo, Jose U. Mora and Andrew T. Young

Mora and Acevedo (2019) report that the government spending multipliers in Latin American countries are notably higher than what is typically reported for developed…

Abstract

Purpose

Mora and Acevedo (2019) report that the government spending multipliers in Latin American countries are notably higher than what is typically reported for developed economies. Latin American countries have been inclined toward using procyclical fiscal policies. Those policies have been perceived as being effective at mitigating the effects of the 2008–2009 Great Recession. This study aims to estimate the government spending multiplier using Latin American panel data from 19 Latin American countries from 2000 to 2018. The estimates are conditional on the extent of openness, capital mobility and economic freedom. Based on the results, the latter is important: the less economically free a country, the larger its spending multiplier. Lower economic freedom in Latin American countries can help to account for their large spending multipliers. In particular, restrictions on international trade are positively associated with multipliers. This is the case even while controlling the trade share of GDP.

Design/methodology/approach

The authors provide regression results that are conditional on the extent of openness, capital mobility and economic freedom.

Findings

The less economically free a country, the larger its spending multiplier. Lower economic freedom in Latin American countries can help to account for their large spending multipliers. In particular, restrictions on international trade are positively associated with multipliers. This is the case even while controlling the trade share of GDP.

Originality/value

To the best of the authors’ knowledge, this is first study to estimate the fiscal multiplier conditional on economic freedom levels. The authors provide correctly calculated multipliers conditional on different levels of economic freedom. The authors point the way to future studies considering the effectiveness of fiscal policy conditional on institutional/policy quality.

Article
Publication date: 1 March 2021

Anil Kumar Uppugunduru and Syed Ershad Ahmed

Multipliers that form the basic building blocks in most of the error-resilient media processing applications are computationally intensive and power-hungry modules…

Abstract

Purpose

Multipliers that form the basic building blocks in most of the error-resilient media processing applications are computationally intensive and power-hungry modules. Therefore, improving the multiplier’s performance in terms of area, critical path delay and power has become an important research area. This paper aims to propose two improved multiplier designs based on a new approximate compressor circuit to reduce the hardware complexity at the partial product reduction stage. The proposed approximate 4:2 compressor design significantly reduces the overall hardware cost of the multiplier. The error introduced by the approximate compressor is reduced using a new technique of assigning inputs to the compressors in the partial product reduction structure.

Design/methodology/approach

The multiplier designs implemented using the proposed approximate 4:2 compressor are targeted for error-resilient applications. For fair comparisons, various multiplier designs, including the proposed one, are implemented in MATLAB. The quality analysis is carried out using standard images, and metrics such as structural similarity index are computed to quantify the result of proposed designs with the existing architectures. Next, Verilog gate-level designs are synthesized to compute area, delay and power to prove the efficacy of the proposed designs.

Findings

Exhaustive error and hardware analysis have been carried out for the existing and proposed multiplier architectures. Error analysis carried out using MATLAB proves that the proposed designs achieve better quality metrics than existing designs. Hardware results show that area, the power consumed and critical path delay are reduced up to 39.8%, 51.7% and 15.9%, respectively, compared to the existing designs. Toward the end, the proposed designs impact is quantified and compared with existing designs on real-time image sharpening and image multiplication applications.

Originality/value

The area, delay and power metrics of the multiplier can be improved using an approximate compressor in an error-resilient application. Accordingly, in this work, a new compressor is proposed that reduces the hardware complexity in the multiplier architecture. However, the proposed approximate compressor, while reducing the computational complexity, tends to introduce error in the multiplier. The error introduced by the approximate compressor is reduced using a new technique of assigning inputs to the compressors in the partial product reduction structure. With the help of the approximate compressor and a technique of input realignment, hardware efficient and highly accurate multiplier designs are achieved.

Details

Circuit World, vol. 48 no. 2
Type: Research Article
ISSN: 0305-6120

Keywords

Article
Publication date: 14 May 2018

Andreas Gkouzos and Manolis Christofakis

The purpose of this paper is to examine the multiplier effects of economic activities in the local economy of Greek non-metropolitan prefectures at NUTS3 level according…

Abstract

Purpose

The purpose of this paper is to examine the multiplier effects of economic activities in the local economy of Greek non-metropolitan prefectures at NUTS3 level according to the Eurostat classification.

Design/methodology/approach

A disaggregate economic base model using OLS regression with clustered standard errors is implemented in 49 non-metropolitan prefectures and 17 economic activities for 2000 and 2012. The specific model indicates a clear picture of multiplier effects of economic activities among the prefectures as it has a similar logic to the input-output analysis while bearing in mind the spatial effects among prefectures. The specific model has not applied for testing base multipliers in the Greek economy according to the academic literature.

Findings

Non-traditional export-oriented activities play a significant role in the economic growth of the non-metropolitan prefectures. Their multiplier effects are higher than the traditional basic activities. Especially, some of these activities indicate strong shifts on specific local activities, which tend to be the significant multiplier effects on the overall local economy. Of course, the existence of agglomeration economies plays a considerable role in non-metropolitan prefectures with a significant population and non-metropolitan prefectures which are in insular space or belong to the perimetric and interior mountainous space, which are sparsely populated.

Originality/value

The specific model applies at the NUTS3 level, according to the Eurostat classification. Also, the model indicates that the multiplier effects come from non-traditional export activities, such as, information-communication, arts entertainment, health services, professional support services and real estate in the overall local economy. Finally, the spatial correlation influences the sectoral multipliers.

Details

Journal of Economic Studies, vol. 45 no. 2
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 1 December 2003

Christian T.L. Janssen

Income multipliers are commonly used in the valuation of income streams. All income dollars, however, are not alike, and investors make distinctions based on the nature…

1589

Abstract

Income multipliers are commonly used in the valuation of income streams. All income dollars, however, are not alike, and investors make distinctions based on the nature and source of the income. The income multiplier is adjusted for the characteristics of the investment. The present study deals with major apartment buildings and concerns the estimation of income multipliers from market observations. Regression analysis is used to estimate the gross and net income multipliers, as well as adjustments for differences in property features, zoning aspects, and economic conditions. The multipliers are then used in the valuation of two subject properties. An important issue is reconciling the estimates when the two multipliers lead to somewhat different values. The sample consists of high‐rise buildings in the West End area of downtown Vancouver, Canada, but the approach is general and widely applicable.

Details

Property Management, vol. 21 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 1 February 2016

Fujin Yi, Wuyi Lu and Yingheng Zhou

The purpose of this paper is to examine the multiplier effects of the grain subsidy program in China, which is a large food self-sufficiency project that is implemented as…

1758

Abstract

Purpose

The purpose of this paper is to examine the multiplier effects of the grain subsidy program in China, which is a large food self-sufficiency project that is implemented as a cash transfer program. Income multiplier effects have not been empirically examined in the evaluation of the grain subsidy program although increasing the income of farmers is the original goal of this project.

Design/methodology/approach

A large number of household-level observations are employed to measure the program’s income multiplier. An unrestricted model was first employed to measure the multipliers in a period of two years, and the difference was evaluated. Then, the income promotion effects of grain subsidy on various income sources for each specific subset of the population, such as liquidity conditions and household characteristics, were estimated.

Findings

The results show that the grain subsidy program has a high income multiplier, and the income promotion effect of the transferred subsidies is from agricultural production derived by intensifying input for each unit of land. The multiplier effect of the grain subsidy program as a cash transfer program can be interpreted as the shadow value of relaxing liquidity constraints and could be particularly utilized by households with more farming land and farmers in less developed regions in China. Hence, to maximize the income multiplier effect, the grain subsidy distribution method should consider these criteria instead of retaining the prevalent standard that is based on contracted land areas.

Originality/value

This study addresses the gap that the effect of China’s grain subsidy program on income increment has not been empirically examined in nation wide.

Details

China Agricultural Economic Review, vol. 8 no. 1
Type: Research Article
ISSN: 1756-137X

Keywords

Article
Publication date: 5 November 2018

Julius Juma Okello, Wellington Jogo, Norman Kwikiriza and Penina Muoki

The sustainability of decentralized seed producers established to enhance farmers’ access to seed of newly introduced biofortified crops is a major challenge…

Abstract

Purpose

The sustainability of decentralized seed producers established to enhance farmers’ access to seed of newly introduced biofortified crops is a major challenge. Understanding what motivates the multipliers of clonally propagated crops to engage in seed multiplication is critical for enhancing access to improved seed varieties. The purpose of this paper is to examine the structure and content of mental models associated with the decision to engage in biofortified sweetpotato vine multiplication as a business.

Design/methodology/approach

The study focused on decentralized vine multipliers from Kenya and Ethiopia. These were stratified by orientation toward nutrition or commercial value addition. A total of 45 multipliers were interviewed. Means-end chain (MEC) analysis combined with laddering technique was used to generate mental constructs multipliers relate with the decision to engage in biofortified sweetpotato vine multiplication.

Findings

The structure and content of mental models of biofortified sweetpotato vine multipliers supporting nutrition-focused interventions and those supporting commercial value-addition sweetpotato interventions are different. Nutrition-focused multipliers are driven by the benefits of good health, while commercial value-addition interventions are driven by the benefit of making “more money.” The content and structure of mental models are also country/region specific.

Research limitations/implications

This study has demonstrated that decision to engage in community seed production business is driven not only by the desire to make profits but, equally importantly, by personal and societal (social) factors. It has also discussed the limitations of current analysis and future research areas.

Originality/value

This study is the first to apply MES analysis to assess how decision to invest in seed multiplication business is affected farmers’ personal values and other psychosocial factors.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. 8 no. 4
Type: Research Article
ISSN: 2044-0839

Keywords

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