Search results

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.

Our result of this paper aims to indicate that the beta pricing formula could be applied in a long-term model setting as well.

In this paper, we show that the capital asset pricing model can be derived from a three-period general equilibrium model.

We show that our extended model yields a Pareto efficient outcome.

The capital asset pricing model (CAPM) model can be used for pricing long-lived assets.

Long-term modelling and sustainability can be modelled in our setting.

Our results were only known for two periods. The extension to 3 periods opens up a large scope of applicational possibilities in asset pricing, behavioural analysis and long-term efficiency.

This study aims to explore the perception among the tourism stakeholders about Halal tourism competitiveness, challenges and opportunities in Aceh, a Sharia-law tourism destination.

This study adopted the qualitative research method and used in-depth interviews with purposively selected 13 Halal tourism stakeholders in Aceh.

This study found that the Indonesian Government has aggressively promoted Aceh as one of its main Halal tourist destinations. Despite its popularity in the growing and lucrative Muslim market, the understanding of Halal tourism in Aceh among its stakeholders is still at its infancy level. Besides, although Aceh is a Muslim-majority region, its Halal facilities and services, especially the Halal certification for their foodservice industry, are still lacking compared to their neighbouring competitors.

This study confirms the scarcity of stakeholder understanding and support challenged and undermined Aceh’s Halal tourism competitiveness. As such, this study sheds light on the original insight that stakeholders’ limited comprehension and backing can hinder Aceh’s Halal tourism competitiveness.

The aim of this Real Estate Insight is to comment upon commercial real estate research. Much of the current research on commercial real estate sits in academic silos, constrained by disciplinary boundaries and rejecting insights from other areas. This can lead to an impoverished understanding of the processes and practices that drive market behaviour.

This Real Estate Insight, through the lens of history, draws on insights from a century earlier and, in particular, from the work of Frank Ramsey; the paper argues that market behaviour is shaped by the role of key actors and persistent beliefs which need to be accounted for in our models of market practice.

The paper argues that current research paradigms need to accommodate agency explicitly into existing models and that real estate research will benefit immensely if researcher were more open in seeking ideas from outside the real estate field and to be more open to external ideas and concepts.

The paper suggests that property research needs to be more embracing of other academic disciplines to develop a full understanding of the numerous and various drivers within commercial real estate markets.

This is a review of how beliefs impact upon commercial real estate markets. As with many things, history can help researchers today get a broader and more appropriate perspective on market drivers and how they affect decision-making.

This study aims to review the current literature on the positive and negative effects of digitalisation in preventing corruption. It analyses existing research patterns and provides recommendations for future studies.

This paper employed bibliometric analysis and systematic review to scrutinise 190 papers from the Web of Science database from 2000 to 2023. Biblioshiny on R Studio was used for advanced bibliometric analysis to determine publication dynamics, influential journals, publications and impactful authors and a three-field plot to analyse relationships among countries, keywords and journals.

This study provides a bibliometric analysis of the past and actual developments in the field related to the effects of digitalisation on corruption. Based on the systematic literature review on a sample of the 50 most influential articles, this study identified background theories employed, the primary research methodologies adopted and valuable insights into both the positive and negative aspects of the impact of digitalisation on corruption.

This study provides an extended overview of the effects of digitalisation on corruption and advances new avenues for further research related to this field. The white and dark sides of the effects of digitalisation on corruption are highlighted. Furthermore, the study identifies the need for further research in this field to gain a more in-depth understanding of the nexus between digitalisation and corruption.

Money laundering (ML) is a major criminal offence stemming from unethical practices by personnel on the ground at Chattogram Port, an important import and export facility in Bangladesh. Because money can be more easily laundered through imports, it is necessary to investigate the dubious process in this sector. This study aims to identify the items most regularly used for easy ML and the factors contributing to their vulnerability.

This research uses a qualitative approach and analyses information from primary sources. Data is obtained from customs officials, port authority personnel, importers and customs brokers through semi-structured questionnaires. Although there are many techniques for ML, this study only found three most overwhelming: under-invoicing, over-invoicing and misdeclaration. A few case studies have been used based on newspaper reports and the internet to triangulate the qualitative data.

Four import items – food products, garments, capital machinery and chemicals – have a higher risk of ML. This study also revealed that money launderers prefer under-invoicing food and garment items. Misdeclaration is more commonly associated with capital machinery and chemical items. Over-invoicing, on the other hand, is only prevalent in government purchases. The port authorities need to pay particular attention to these issues.

As ML is an ongoing activity that changes over time, the findings of this research are circumscribed by the data collected at a single point in time. Additionally, this research did not consider alternative laundering methods.

The research results can provide a basis for creating effective anti-money laundering (AML) strategies to assist with sustainable economic growth.

Developing effective AML measures can help combat corruption and establish good governance in the country and support human well-being.

This paper presents original research findings based on technical analysis. The Chattogram Port Authority and the National Board of Revenue have accepted and used the main findings in a collaborative action plan to tackle ML. The Bangladesh Bank, the country’s central bank, has also incorporated the necessary guidelines and regulations into the Money Laundering Prevention Act, 2012.

This paper aims to provide a systematic literature review (SLR) on contemporary cardinal money mule issues.

This paper reviews the most common money mule themes in perpetrating financial crime activities, especially its roles, recruitment and awareness. A systematic review protocol called preferred reporting items for systematic review and meta-analysis protocols is adopted for this study.

Money mules are used by organized criminal groups (OCG) or fraudster to launder illicit funds from outrageous criminal activities. They allow their accounts to be used for money laundering by OCG. The attacker, OCG or fraudsters would layer the stolen funds using money mule accounts. These money mules are recruited using various approaches, oftentimes deceived by opulent lifestyles to captivate the interest of potential money mules.

This paper presents money mule awareness needed by accountant, bank employees and the society. It is an unprecedented SLR on money mule. This paper will be beneficial for future money mule researchers, enforcement agencies and practitioners in banking industry.

This paper aims to identify the interplay of standard Capesize optimal speeds for time charter equivalent (TCE) maximization in the Australia–China iron ore route and the optimal speeds as an operational tool for compliance with the International Maritime Organization (IMO) carbon intensity indicator (CII).

The TCE at different speeds have been calculated for four standard Capesize specifications: (1) standard Capesize with ecoelectronic engine; (2) standard Capesize with non-eco engine (3) standard Capesize vessel with an eco-electronic engine fitted with scrubber and (4) standard Capesize with non-eco engine and no scrubber fitted.

Calculations imply that in a highly inflationary bunker price context, the dollar per ton freight rates equilibrates at levels that may push optimal speeds below the speeds required for minimum CII compliance (C Rating) in the Australia–China trade. The highest deviation of optimal speeds from those required for minimum CII compliance is observed for non-eco standard Capesize vessels without scrubbers. Increased non-eco Capesize deployment would see optimal speeds structurally lower at levels that could offer CII ratings improvements.

While most of the studies have covered the use of speed as a tool to improve efficiency and emissions in the maritime sector, few have been identified in the literature to have examined the interplay between the commercial and operational performance in the dry bulk sector stemming from the freight market equilibrium. The originality of this paper lies in examining the above relation and the resulting optimal speed selection in the Capesize sector against mandatory environmental targets.

In this paper, we evaluated the impact of the US “Chip Act” on the participation of the Chinese electronics industry in the global value chain based on the dynamic CGE model. This is a meaningful attempt to use the GTAP-VA model to analyze the electronics industry in China.

We employ a Dynamic GTAP-VA Model to quantitatively evaluate the economic repercussions of the “Chip Act” on the Chinese electronic industries' GVC participation from 2023 to 2040.

The findings depict a discernible contraction in China’s electronic sector by 2040, marked by a −2.95% change in output, a −3.50% alteration in exports and a 0.45% increment in imports. Concurrently, the U.S., EU and certain Asian economies exhibit expansions within the electronic sector, indicating a GVC realignment. The “Chip Act” implementation precipitates a significant divergence in GVC participation across different countries and industries, notably impacting the electronics sector.

Through a meticulous temporal analysis, this manuscript unveils the nuanced economic shifts within the GVC, substantially bridging the empirical void in existing literature. This narrative accentuates the profound implications of policy regulations on global trade dynamics, contributing to the discourse on international economic policy and industry evolution.

We evaluated the impact of the US “Chip Act” on the participation of the Chinese electronics industry in the global value chain based on the dynamic CGE model. This is a meaningful attempt to use the GTAP-VA model to analyze the electronics industry in China.

The interaction between policy regulations and global value chain (GVC) dynamics is pivotal in understanding the contemporary global trade framework, especially within technology-driven sectors. The US “Chips Act” represents a significant regulatory milestone with potential ramifications on the Chinese electronic industries' engagement in the GVC.

The significance of this paper is that it quantifies for the first time the impact of the US Chip Act on the GVC participation index of East Asian countries in the context of US-China decoupling. With careful consideration of strategic aspects, this paper substantially fills the empirical gap in the existing literature by presenting subtle economic changes within GVCs, highlighting the profound implications of policy regulation on global trade dynamics.

This paper aims to investigate the potential influence of managers on sustainability assurance. When the quality of sustainability reporting is questionable because of subsequent restatements, the authors explore whether assurance is used to enhance its credibility as a legitimization tool or as an impression management strategy. Additionally, the authors analyze how capital markets react to this potential managerial capture and, particularly, whether investors penalize this practice through the cost of capital.

Using an international sample from 2012 to 2016 and panel data regressions, this study relies on DICTION’s master variables of optimism and certainty to examine the impact of managers on assurance and the market’s reaction to these practices.

The study shows that some managers might use assurance as a legitimization tool rather than as a means of reinforcing the credibility of sustainability reporting. In such cases, the results reveal that investors penalize (reward) managerial influence (no influence) on assurance.

The new findings help companies understand that they will not improve their financing terms if investors perceive that managers have influenced assurance. Moreover, these findings emphasize the need for standardization to clarify assurance criteria and prevent managerial influence.

Managerial influence on assurance raises doubts about its value in terms of reducing information asymmetry and especially improving investors’ decision-making.

The present study represents the first evidence of the potential use of assurance for non-informative purposes. The authors provide clear evidence of how investors penalize managerial influence on assurance, in contrast to the mainstream literature, which shows that this practice always improves investors’ decision-making and is rewarded.