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This study aims to explore the impact of oil prices on housing prices using Pakistani annual data from 1973 to 2021.

The Augmented Dickey–Fuller (ADF) and Phillips–Perron (PP) tests were used for unit-root testing, whereas the johansen-juselius test was used for cointegration. For the short-run, the error correction model is used and the robustness of the model is checked using the dynamic ordinary least squares (DOLS) and fully modified OLS (FMOLS). The cumulative sum (CUSUM) and CUSUM of Squares tests were used to check the stability of the model, while parameter instability was confirmed by the Chow breakpoint test. Finally, the impulse response function was used for causality.

According to the findings, rising oil prices, among other things, have an impact on housing prices. Inflation is the single most important factor affecting not only the housing sector but also the entire economy. Lending and exchange rates have a significant impact on housing prices as well. The FMOLS and DOLS results suggest that the OLS results are robust. According to the variance decomposition model, housing prices and oil prices are bidirectionally related. The Government of Pakistan must develop a housing policy on a regular basis to develop the country’s urban housing supply and demand.

It is suggested that in Pakistan, the rising oil prices is a problem for the housing prices as well as many other sectors. The government needs to explore alternative ways of energy generation rather than the heavy reliance on imported oil.

Pakistan has been experiencing rising oil prices and housing prices with the rapid urbanisation and rural–urban migration. The contribution to the literature is that neither attempt (as to the best of the authors’ knowledge) has been made to check the impact of rising oil prices on housing sector development in Pakistan.

The purpose of this study is to reveal the dynamics of house prices and sales in spatial and temporal dimensions across British regions.

This paper incorporates two empirical approaches to describe the behaviour of property prices across British regions. The models are applied to two different data sets. The first empirical approach is to apply the price diffusion model proposed by Holly et al. (2011) to the UK house price index data set. The second empirical approach is to apply a bivariate global vector autoregression model without a time trend to house prices and transaction volumes retrieved from the nationwide building society.

Identifying shocks to London house prices in the GVAR model, based on the generalized impulse response functions framework, I find some heterogeneity in responses to house price changes; for example, South East England responds stronger than the remaining provincial regions. The main pattern detected in responses and characteristic for each region is the fairly rapid fading of the shock. The spatial-temporal diffusion model demonstrates the presence of a ripple effect: a shock emanating from London is dispersed contemporaneously and spatially to other regions, affecting prices in nondominant regions with a delay.

The main contribution of this work is the betterment in understanding how house price changes move across regions and time within a UK context.

We study five exogenous shocks: climate, violence, price hikes, spoilage and the COVID-19 lockdown. We analyze the association between these shocks and trader characteristics, reflecting trader vulnerability.

Using primary survey data on 1,100 Nigerian maize traders for 2021 (controlling for shocks in 2017), we use probit models to estimate the probabilities of experiencing climate, violence, disease and cost shocks associated with trader characteristics (gender, size and region) and to estimate the probability of vulnerability (experiencing severe impacts).

Traders are prone to experiencing more than one shock, which increases the intensity of the shocks. Price shocks are often accompanied by violence, climate and COVID-19 shocks. The poorer northern region is disproportionately affected by shocks. Northern traders experience more price shocks while Southern traders are more affected by violence shocks given their dependence on long supply chains from the north for their maize. Female traders are more likely to experience violent events than men who tend to be more exposed to climate shocks.

The data only permit analysis of the general degree of impact of a shock rather than quantifying lost income.

This paper is the first to analyze the incidence of multiple shocks on grain traders and the unequal distribution of negative impacts. It is the first such in Africa based on a large sample of grain traders from a primary survey.

This research investigates the impact of strategic research and development (R&D) (one led by a firm’s innovation orientation) on stock market performance during the economic disruption caused by the 2016 demonetization of high-value currency notes in India. It shows how firms’ strategic focus on innovation and integrated R&D initiatives can help mitigate shareholders’ losses and protect market value during negative macroeconomic shocks.

We analyzed financial and administrative data from firms listed in the Bombay Stock Exchange (BSE) 500 index and used the Fama French market model with appropriate instruments accounting for possible endogeneity to identify the impact. To ensure the reliability of our findings, we conducted robustness checks with alternate event windows, estimation methods, and variable measurements.

Strategic R&D plays a crucial role in building resilience against macroeconomic shocks. It effectively mitigated shareholders’ losses in the immediate aftermath of the shock, with an elasticity of abnormal returns of 7.65% on day zero, 13.1% during the first five days and 10.5% after the first fortnight. We also find that firms that are business-to-business (B2B), as well as those that are older and less leveraged, are better able to combat such a shock.

The study looked at one shock, namely demonetization. Future research is needed to demonstrate the generalizability of results during other macroeconomic shocks, like the COVID-19 pandemic. The study focuses on relatively near-term impacts, leaving the long-term value-creation effects of strategic R&D unexplored.

Innovation orientation acts as a structural enabler, allowing firms to make strategic R&D investments that mitigate losses during macroeconomic shocks. It explains that managers should avoid myopically managing R&D investments and align them with the firm’s innovation focus to enhance value creation.

While the currency demonetization was widely considered to be detrimental for firms as an unannounced negative monetary shock, our research shows that firms with high levels of strategic R&D were successfully able to counteract such a shock.

This is the first study to examine the short-term loss mitigation impact of firms’ focus on innovation and strategic R&D. It emphasizes the role of innovation-focused strategies during economic crises.

The intention of the empirics is to contribute to the general understanding of investor responses to market price shocks. The authors review assumptions about investor behavior in response to price shocks and investigate alternative rebalancing heuristics.

The authors use market data over 40 years to define market shocks. Portfolio rebalancing implements constrained Markowitz mean-variance (MV) heuristics.

Momentum rebalancing in portfolio management outperforms contrarian rebalancing in the study interval. Sensitivity analysis by decade, sector constraints and proportion of security holdings bought or sold continue to support momentum rebalancing.

The results are consistent with under-responding to price shocks at consensus levels in financial markets. The theoretical background provides a basis for experimental lab studies of shocks of different magnitudes under conditions in which participants have information on the levels of other participants and a condition in which they can only observe their previous estimates.

Managing portfolios in the face of price disturbances of different magnitudes is informed by empirical studies and their implications for investor behavior.

This is the first study the authors can locate that uses market data with alternative rebalancing heuristics to estimate price returns from the respective heuristics over a time interval of 40 years. The authors support the results with sensitivity estimates and consider implications for the underlying agent heuristics in light of background studies.

This study investigates the mediating role of wage and workforce adjustments, along with the moderating influence of collective bargaining system and employees’ localization, in elucidating the relationship between the COVID-19 shock and workplace employee relations (ER) tension.

Survey data from 1,483 enterprises across 21 prefectural cities in China’s Guangdong Province are collected. The hypotheses are tested by logistic regression.

The study reveals a positive correlation between the COVID-19 shock and workplace ER tension across crisis-hit enterprises, irrespective of their size or industrial sector. Wage reduction and mass layoffs emerge as significant mediators, while the collective bargaining system (CBS) and employees’ localization act as moderators.

The measurement of ER is limited in a single-item scale. Representation of China is also limited since the study exclusively focuses on Guangdong province. The study offers some contributions that firm-level data reveal the pathway through which COVID-19 creates ER tension.

On the one hand, the authors recommend the establishment of an effective communication system between employers and employees. On the other hand, managers should consider the role of informal institutions. Furthermore, the authors suggest implementing tailored strategies at the enterprise level.

Intense external shocks result in widespread layoffs and increased wage reductions within workplaces, and under such circumstances, formal or informal institutions may be insufficient to alleviate ER tension. In this case, the state authorities – including governments and other public agencies or bodies – are necessary to intervene in to organize tripartite dialogue.

While numerous emerging studies on COVID-19 explore how different countries manage industrial relations tension at the national level, few focus on ER at workplace level, particularly in developing countries. Understanding how workplace ER evolve during external shocks and identifying institutional measures to mitigate their negative impact is crucial for future crisis management.

Agricultural banks likely respond differently to economic downturns compared to nonagricultural banks. Limited previous research has examined the performance of agricultural banks under economic crisis and in the presence of banking regulations. This study aims to explore agricultural banks' responses to economic and regulation shocks relative to nonagricultural banks.

This study uses bank-quarter level data from 2002 to 2022 for virtually all commercial banks in the U.S. In this research, the Z-score measures the bank’s default risk, the return on assets measures bank profitability and changes in amount of farm loans indicate the wider impact on the agricultural sector. Effects of the financial crisis, Basel III reforms to banking regulation and the coronavirus (COVID-19) pandemic on these banking measures are assessed using distinct empirical frameworks. The empirical estimations use various subsamples based on bank types, bank sizes and time periods.

Economic downturns are associated with fluctuations in returns and the risk of default of commercial banks. Agricultural banks appeared to be more resilient to economic downturns than nonagricultural banks. However, Basel III regulated agricultural banks were more likely to fail amidst the pandemic-related economic shocks than the regulated non-agricultural banks.

This study examines the resiliency of agricultural banks during economic downturns and under postfinancial crisis regulation. This is one of the first empirical works to analyze the effectiveness of Basel III regulation across bank types and sizes considering the COVID-19 pandemic. The key finding suggests that banking regulation should consider not only size heterogeneity but also the heterogeneity in lending portfolios.

The purpose of this paper is to investigate the two-phase flow problems involving gas–liquid mixture.

The governed equations consist of a range of conservation laws modeling a classification of two-phase flow phenomena subjected to a velocity nonequilibrium for the gas–liquid mixture. Effects of the relative velocity are accounted for in the present model by a kinetic constitutive relation coupled to a collection of specific equations governing mass and volume fractions for the gas phase. Unlike many two-phase models, the considered system is fully hyperbolic and fully conservative. The suggested relaxation approach switches a nonlinear hyperbolic system into a semilinear model that includes a source relaxation term and characteristic linear properties. Notably, this model can be solved numerically without the use of Riemann solvers or linear iterations. For accurate time integration, a high-resolution spatial reconstruction and a Runge–Kutta scheme with decreasing total variation are used to discretize the relaxation system.

The method is used in addressing various nonequilibrium two-phase flow problems, accompanied by a comparative study of different reconstructions. The numerical results demonstrate the suggested relaxation method’s high-resolution capabilities, affirming its proficiency in delivering accurate simulations for flow regimes characterized by strong shocks.

While relaxation methods exhibit notable performance and competitive features, as far as we are aware, there has been no endeavor to address nonequilibrium two-phase flow problems using these methods.

This study systematically reviewed existing literature on the impact of economic uncertainty on property performance to highlight focus areas and spur future research amid unprecedented global uncertainty levels. Conceptually, uncertainty levels and environmental dynamism are related to investors' risk judgement and decision-making.

Peer-reviewed journal articles published from 2007 to 2022 were assembled and arranged through the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) protocol. The initial search produced 2,028 results from the Web of Science and Scopus databases, which were rigorously purified for a final dataset of 70 articles. These records were subsequently assessed through content analysis, bibliographic modelling, topic modelling and thematic analysis. Recurring themes were visualised using the VOSviewer software.

The existing literature suggests that economic uncertainty negatively impacts investment volumes, returns and performance. Research has also increased since 2018, with a strong emphasis on the housing sector and developed property markets. Commercial property and emerging markets account for only 10 and 8% of previous research, respectively.

These findings highlight the negative impact of economic uncertainties on property performance and investment volumes, which necessitate careful risk assessment. Given the high susceptibility of emerging and commercial property markets to uncertainty, these markets warrant further research amid ongoing uncertainty concerns across the globe.

Given current unprecedented levels of global uncertainty, the effects of economic uncertainty have received renewed interest. This study synthesised the current understanding of how different property markets respond to increased uncertainty and outlined future research directions to enhance understanding. Themes and relationships were also integrated into a conceptual map summarising the reported effects of economic uncertainty on housing, commercial property, investment and behaviour in the property market.

This paper aims to examine Nigeria’s dynamic output and output volatility connectedness with USA, China and India using quarterly data from 1981Q1 to 2019Q4.

The study adopted the network approach of Diebold and Yilmaz (2014) and used the normalized generalized forecast error variance decomposition from an underlying vector error correction model to build connectedness measures.

The findings show that the global financial crisis (GFC) increased the connectedness index far more than the 2016 Nigeria economic recession. The moderate effect of the 2016 Nigeria economic recession on the connectedness index underscores the fact that Nigeria is a small, open economy with minimal capacity to spread output shock. For both real output and its volatility, the total connectedness index rose smoothly and systematically through time, thereby leaving the economies more connected in the long run.

To the best of the authors’ knowledge, this paper is among the first to examine Nigeria’s dynamic output and output volatility connectedness with the USA, China and India using new empirical insights from the GFC versus 2016 Nigerian recession. The study, therefore, concludes that the Nigerian economy should be diversified immediately as a hedge against future real output shocks, while the USA, China and India should maintain and sustain their current policy frameworks to remain less vulnerable to real output shocks.