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After a seven-year period of being stuck in the zero lower bound (ZLB) range, the target rate was raised by 25 basis points on December 16, 2015. Prior to the rate hike, the important issues that the Federal Reserve dealt with were the magnitude, timing, and the information conveyed by a first-time rate hike from the ZLB period. The purpose of this paper is to use the data from the ZLB period and simulate the impact of an increase in the proxies for the federal funds rate: effective federal funds rate and shadow rate, and measure the impact on the resulting changes in credit default swap (CDS) spreads across 11 industries. Increases in both proxies predict a significant decrease in CDS spreads which is indicative of an economic recovery. This prediction is confirmed by the announcement effect of the actual rate increase on December 16, 2015 and the three subsequent rate increases.

In the absence of target rate changes in the ZLB environment, the authors use a recursive vector autoregressive (VAR) model to simulate the rate increases in proxies for target federal rate and predict the impact on the economy by observing the reaction in CDS spreads and stock returns across 11 industries.

The impulse response indicates that an increase of one standard deviation in the effective rate (approximately 25 basis points) results in a statistically significant decrease in the spreads of CDS contracts in 8 of the 11 sectors studied in this research. Similar results obtain for an increase in shadow rate thus providing a robustness check. These results suggest a rate increase from the ZLB period and the resulting dynamics captured in the VAR system is indicative of an economic recovery.

Prior studies have used the event study methodology to evaluate the impact of rate changes on credit spreads. The ZLB environment does not contain data on target rate changes and renders the event study methodology as ineffective. This paper is the first to simulate the implications of a first-time rate increase from the ZLB environment in the context of a recursive VAR model. The results are very helpful to the Federal Reserve of countries experiencing a ZLB environment such as Japan and Europe.

The purpose of this paper is to present the first economic valuation of four environmental attributes of the Yanachaga–Chemillén National Park (PNYCH – Parque Nacional Yanachaga-Chemillén) in Peru.

This study included households in three cities adjacent to the PNYCH and assessed the willingness to pay (WTP) for preservation efforts of these natural services to avoid the predicted loss in forest area by 2030 (currently 143,425 hectares per year).

The results showed that the average WTP was US$0.695 (2.3197 soles) per household annually. Added to all households in Peru (9 million), this is equivalent to approximately 6.255 million dollars annually.

The economic valuation of these attributes is complementary to the contingent valuation and can have a significant impact, as this data influences decision-making and public policies focused on conserving forests and biodiversity.

Upon using the choice experiment (CE) model, the attributes that have the most significant impact on inhabitants’ well-being were economic benefits. The flora and fauna coverage attributes were beneficial for the inhabitants of the place because they valued the proposed recovery and conservation program in a positive and differential way.

From the collection of valuable economic data, the novelty lies in using the CE method, which has not yet been applied in valuations of natural ecosystem services in Peru.

The purpose of this paper is to enhance the understanding of sustainable supply chain management (SSCM) and provide a comprehensive and quantitative method to assess performance.

The study applied interval-valued triangular fuzzy numbers associated with grey relational analysis to improve the insufficient information and overcome the incomplete system under uncertainty.

The findings support the argument that the triple bottom line is insufficient to cover the entire concept of SSCM; in particular, the aspects of operations, stakeholders and resilience have not been addressed in previous studies.

The results reveal that the triple bottom line concept is insufficient to illustrate the principles of SSCM and to provide an extensive basis for theory development. The aspects and criteria considered in the study only relate to the studied company and may need to be reviewed when applied to other industries.

The methodology and findings of the study demonstrate the core applications of criteria ranking and identify priority areas that utilize less investment but that may maintain the studied company’s current performance. Suggestions for the prioritization of criteria to enhance SSCM performance are provided.

The present study provides three valuable contributions. First, it adopts collaboration theory to furnish a theoretical foundation for SSCM. Second, the proposed hybrid method is able to overcome uncertainty and subsequently evaluate SSCM while utilizing incomplete and imprecise information. Third, the evaluation provides significant results for consideration in decision making by the studied company.

Research on sustainable consumption (SC) has shown how, faced with barriers that prevent them from embracing a sustainable lifestyle, consumers experience classic symptoms of distress. Although distress emerges as a constitutive dimension of sustainable lifestyles, research has not yet provided a comprehensive account of how consumers cope with it. This paper aims to provide such an account.

In-depth interviews were conducted with 25 people who defined themselves as sustainable consumers. A hermeneutic approach was adopted for the analysis.

The analysis shows that consumers enact two different coping strategies: adjustment or episodic coping and structural coping or deradicalization. Both sets encompass reappraisals and meaning-making strategies to maintain motivation while simultaneously appeasing tensions. They also comprise the strategic enactment of emotions to energize the self and/or to appease distress. Coping influences how SC is appraised and lived, as these practices are dynamically changed to navigate structural constraints.

SC campaigns have traditionally focused on cognitive empowerment. However, the evidence suggests that emotional empowerment could be a more effective way to promote the practice.

This paper provides the first in-depth examination of the strategies adopted to cope with distress. The analysis shows that consumers reconfigure how SC is appraised and implemented, while emphasizing the crucial role of emotion work in the coping repertoire. Although SC is stressful due to structural and social constraints, consumers are able to remain committed to it to varying degrees.

This essay is a historical case study of southern Chilean rural society and its transformation across the twentieth century. It moves beyond questions of unionization and political parties in the agrarian sector to debates about land, subsistence and exploitation to show how notions of “moral economy” in rural politics were formed and transformed in ongoing dialogue with the policies and discourses of the Chilean welfare state. Using judicial records, newspapers, government documents and interviews with almost all the major protagonists, it explores the contradictory effects of both class and ethnic strategies of agrarian restitution, tracing three generations of mobilization in a Mapuche community. Through local evidence, it demonstrates how the Pinochet dictatorship (1973–1990) reorganized and dusted off a state discourse on market-based, efficient agrarian exploitation that had been central to all official explanations and justifications of agrarian reform offered between 1964 and 1973.