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The purpose of this study is to estimate the housing wealth effect on non-durable consumption using data from the Spanish Survey of Household Finances (Encuesta Financiera de las Familias, SHF) for the period 2002–2017.

The authors aim at identifying the effect of anticipated and unanticipated housing wealth changes on consumption with the sample of homeowners, following Paiella and Pistaferri (2017).

Results of this study lead us to conclude that there exists a strong housing wealth effect on consumption for the Spanish households.

The authors provide evidence against the permanent income model. They also analyse how the results change with income expectations, age and the household indebtedness rate. Finally, they detect a strong excess sensitivity to income.

The research is based on a critically analyzed literature review focused on the unanticipated outcomes, trade-offs and tensions of sustainable operations and supply chain management (OSCM), including the articles selected for this special issue.

The authors introduce the key concepts, issues and theoretical foundations of this special issue on “The hidden side of sustainable operations and supply chain management (OSCM): Unanticipated outcomes, trade-offs and tensions”. The authors explore these issues within this context, and how they may hinder the authors' transition to more sustainable practices.

The authors present an overview of unanticipated outcomes, trade-offs, tensions and influencing factors from the literature, and identify how such problems may emerge. The model addresses these problems by highlighting the crucial effect of the underlying state of knowledge on sustainable OSCM decision-making.

The authors limited the literature review to journals that ranked 2 and above as defined by the Chartered Association of Business Schools Academic Journal Guide. The main implication for research is a call to focus attention on unanticipated outcomes as a starting point rather than only an afterthought. For practitioners, good intentions such as sustainability initiatives need careful consideration for potential unanticipated outcomes.

The study provides the first critical review of unanticipated outcomes, trade-offs and tensions in the sustainable OSCM discourse. While the literature review (including papers in this special issue) significantly contributes toward describing these issues, it is still unclear how such problems emerge. The model developed in this paper addresses this gap by highlighting the crucial effect of the underlying state of knowledge concerned with sustainable OSCM decision-making.

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.

Though an accumulating body of study has analysed monetary policy transmission in India, there are few studies examining the differential impact of monetary policy action. Against this backdrop, this study aims to analyse the differential impact of monetary policy on aggregate demand, aggregate supply and their components along with the general price level in India.

The study develops a structural macroeconometric model, which is primarily aggregate and eclectic in nature. The generalized method of movements is used for estimation of behavioural equations, while a Gauss–Seidel algorithm is used for model simulation purposes.

The paper presents the results of two policy simulations from the estimated model that highlight the differential impact of monetary policy. The first one, hike in the policy rate by 5% and second is a reduction in bank credit to the commercial sector by 10%. The results from the first policy simulation experiment reveal that interest hike has a significant negative impact on aggregate demand, aggregate supply and general price level. However, the maximum impact is borne by investment demand and imports followed by private consumption. While as among the components of aggregate supply maximum impact is born by infrastructure output followed by the manufacturing and services sector with the agriculture sector found to be insensitive in nature. The results from the second policy simulation experiment revealed that pure monetary shocks have a significant negative impact on aggregate demand, aggregate supply and general price level. However, the maximum impact is born by private consumption and imports followed by investment demand. While as among components of aggregate supply maximum impact is borne by infrastructure followed by the manufacturing and services sector with the agriculture sector found to be insensitive in nature. From both policy simulation experiments, the study highlighted the relative importance of the income absorption approach as opposed to the expenditure switching effect.

The results obtained in this study provides a strong framework for design the monetary policy framework. The results are in a view of the differential impact of monetary policy action among the components of both aggregate demand and aggregate supply. This reflection of differential impact has immense significance for the macroeconomic stabilization as the central bank will have to weigh the varying repercussion of its actions on different sectors. For instance, the decline in output after monetary tightening might be conceived as mild from an overall perspective, but it can be appreciable for some sectors. This differential influence will have an implication for policy design to care for distributional aspects, which otherwise could be neglected/disregarded. Similarly, the output decline may be as a result of either consumption postponement or a temporary slowdown in investment. However, the one emanating due to investment decline will have lasting growth implications compared to a decline in consumer demand. In addition, the relative strength of expenditure changing or expenditure switching policies of trade balance stabilization may have varying consequences in the aftermath of monetary policy shock. Accordingly information on the relative sensitiveness/insensitiveness of different sectors/ components of aggregate demand towards monetary policy actions furnish valuable insights to monetary authorities in framing appropriate policy.

The work carried out in the present paper is motivated by the fact that although a number of studies have examined the monetary transmission mechanism in India, a very few studies examining the differential impact of monetary policy action. However, to the best of the knowledge, there is no such studies, which have examined the differential impact of monetary policy in the structural macro-econometric framework. The paper will enrich the existing literature by providing a detailed account of the differential impact of monetary policy among the components of both aggregate demand and aggregate supply in response to an interest rate hike, as well as a decrease in the money supply.

The purpose of this paper is to explore the adverse incentives at the front end of government-funded projects with concentrated benefits and no liabilities for the privileged groups. In particular, the author discusses the risk of perverse incentives of the types typically found in the development aid sector that results in counterproductive outcomes.

The paper uses a simple conceptual framework based on agency theory. A qualitative, case-based approach with purposive sampling was chosen for the empirical part of the study. Eight Norwegian projects were selected because incentive problems were to be expected, and one development aid project served as a reference case.

The paper finds that low strategic project success corresponded well with the terms of financing. There were clear indications of agency problems, in three cases to the extent that the incentives turned perverse. The paper concludes with a discussion of relevant measures to prevent the emergence of perverse incentives.

The paper contributes to an improved understanding of the incentives related to public project initiation and selection, which is an under-researched topic and generally not included in formal project governance schemes. The research should therefore be useful to scholars as well as practitioners within the field of project governance.

Innovation is the fundamental driving force for the long-term sustainable development of an economy. After four decades of rapid economic growth, China is facing crises related to a demographic structure of “aging before getting rich,” industrial overcapacity of low-end products and environmental and resources constraints. This paper aims to discuss these issues.

Based on logical analysis and recapitulation of previous empirical research, this study presents the conclusion.

Scientific and technological innovation, as strategic support to improve social productivity and overall national strength, must be placed at the center of the country’s overall development.

The development model that preys upon cheap resources for extensive growth is unsustainable. Thus, the country needs an urgent strategic switch to drive its economic growth through research and development innovation and original technological advancement.

In March 2020, with only two working days’notice the French national education system went online due to the coronavirus pandemic. This study explores the relationship between the move to distance learning, the teaching practices employed and the socio-economic context of the learners in French schools during this period. We ask how far the changes in teaching practices during the coronavirus crisis were influenced by the social context of teaching. And to what extent this context influenced the focus of the pedagogical continuity those teachers set up.

A review of the literature situates the study within the field of mathematics teaching practices. The study was carried out through a multidimensional analysis using multiple correspondences of the responses of 368 French secondary school mathematics teachers to an online questionnaire.

We found that the unprepared move to distance learning impeded the employment of dialogic practices. The socio-economic situation of the teaching was identified as a determining factor in the teachers' different interpretations of the term pedagogical continuity. Whilst those working in more deprived areas tended towards practices which focused on maintaining pupils' links with school, consolidation of knowledge and providing social/affective support, those teaching a more privileged public favoured tools and practices which allowed them to focus on the disciplinary content of their teaching.

The challenge of maintaining dialogic activities – teacher education to combat inequalities.

A quantitative study of mathematics teachers providing pedagogical continuity through distance learning for the duration of the crisis.

We study the contemporaneous effects of US monetary policy normalization on African stock market using panel data from six African countries.

Daily data from May 1, 2013 to December 31, 2018 were used in order to accommodate the announcement effects since the US monetary policy normalization announcement was made in May 2013, while the rate hike was in December 2015. The study used the FE, RE and PMG models.

The results revealed that US 10-year bond yield and Treasury bill rate shocks negatively affect stock prices in Africa. S$P500 shock positively affects African stock prices.The result revealed that the integration of African financial market to the global financial market is a major source of vulnerability. The finding that US Treasury bill rate is a major depressant of the African stock prices reveals the short-termism of foreign polio inflows into African economies.

We provide inexorably insight into the interplay of financial systems globally. It can be useful for the purposes of generalization in developing economies in the shape of African countries. More so, this study could be replicated in another economic bloc or region with the aim of further exposing the far-reaching spillover effects of the US monetary policy normalization.

While research on digital dangers has been growing, studies on their respective solutions and justice responses have not kept pace. The agathokakological nature of technology demands that we pay attention to not only harms associated with interconnectivity, but also the potential for technology to counter offenses and “do good.” This chapter discusses technology as both a weapon and a shield when it comes to violence against women and girls in public spaces and private places. First, we review the complex and varied manifestations of technological gender violence, ranging from the use of technology to exploit, harass, stalk, and otherwise harm women and girls in communal spaces, to offenses that occur behind closed doors. Second, we discuss justice-related responses, underscoring how women and girls have “flipped the script” when their needs are not met. By developing innovative ways to respond to the wrongs committed against them and creating alternate systems that offer a voice, victims/survivors have repurposed technology to redress harms and unite in solidarity with others in an ongoing quest for justice.