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This paper analyzes real and welfare effects of a permanent change in inflation rate, focusing on macroprudential policy’ role and its interaction with monetary policy.

While investigating disinflation costs, the authors simulate a medium-scale dynamic general equilibrium model with borrowing constraints, credit frictions and macroprudential authority.

Providing discussions on different policy scenarios in a context where still it is expected high inflation, there are three key contributions. First, when macroprudential authority actively operates to improve financial stability, losses caused by disinflation are limited. Second, a Taylor rule directly responding to financial variables might entail a trade-off between price and financial stability objectives, by increasing disinflation costs. Third, disinflation is welfare improving for savers, while costly for borrowers and banks. Indeed, while savers benefit from policies reducing price stickiness distortion, borrowers are worried about credit frictions, coming from collateral constraint.

The paper suggests threefold policy implications: the macroprudential authority should actively intervene during a disinflation process to minimize costs and financial instability deriving from it; policymakers should implement a disinflationary policy stabilizing also output; the central bank and the macroprudential regulator should pursue financial and price stability goals, separately.

This paper is the first attempt to study effects of a permanent inflation target reduction in focusing on the macroprudential policy’ role.

The purpose of this study is to examine the welfare effects of product standards (which fall under Non-Tariff Barriers (NTBs)) on an exporting country when the country by its own choice prefers to follow the null standard for the domestic market, which is not possible due to high set up cost at two different standards. The model has used a theoretical framework to analyze the effects and has derived some important results. If the standard is not linked with a true negative externality, the exporting country, given the assumptions of the model will always prefer to be discriminated by “tariff” and the importing country will prefer to protect its market by “tariff” rather than going for NTB. The typical assumptions taken here resemble the trade between developed and developing countries when the developed country imposes some minimum standard on a product but becomes relatively “costly” for the developing country to comply with. As the importing country is not free to set tariffs, it will use NTB as a minimum standard (as it is welfare-improving than free trade). However, the minimum standard also affects the exporting country's local producers and consumers. So NTB leads to a worse situation for both countries and definitely worst for the exporting country. Using a game theoretic framework, the study shows that the imposition of standards which does not address any real externality can be an optimum response for an importing country leading to a loss in the global welfare compared to a free trade situation.

Although the majority of Ethiopians continue the on-farm and off-farm work, the country still struggles to secure food for its citizens and farmer welfare is very low. To increase farmers' welfare, improving farmers' entrepreneurial competency is believed to be the solution. However, entrepreneurial competencies are diversified, and investigating the most important dimensions specific to the agricultural sector is important. As a result, the objective of this research is to look into important entrepreneurial competencies that could help farmers.

To achieve the objective, survey data, collected from 178 households in North Shoa, Amhara National Regional State, Ethiopia is analyzed through structural equation modeling (SEM).

The study revealed that of the six entrepreneurs' competencies considered, only two of them (Strategic competency and relationship competency) have a significant association with the welfare of farmers. Moreover, the study revealed that the moderating effect of agricultural extension (taking model and non-model farmers as a group) on the relationship between entrepreneurial competency and farmers' welfare is not significant.

This study focuses only on six entrepreneurial competencies from which two of them are found significant factors in farmers' welfare. Thus, future research could broaden the scope in terms of looking into additional variables.

The study investigated the moderating effect of the farmers' category as a model and non-model on the relationship between entrepreneurial competency and farmers' welfare, which is the first to discuss the moderation effect.

This paper offers an overview of the burgeoning literature on open banking, focusing on its implications for the financial sector.

The paper reviews the recent developments in the nascent literature of open banking. In particular, it discusses the following issues. (1) the extent to which open banking fosters competition, drives innovation and enhances financial inclusion; (2) the impact of institutional arrangements on the outcomes of open banking initiatives and (3) the critical role of government in promoting open banking and regulating banking activities.

The paper concludes with a discussion on potential directions for future research. First, open banking introduces significant challenges to the traditional banking model. Furthermore, the interplay between open banking and financial risk presents an area ripe for exploration. Lastly, the importance of consumer education in the context of open banking cannot be overstated.

Open innovation enables financial institutions generate productive innovations as well as provide customers with significantly better services, by getting access to previously restricted customer data. However, currently non-bank and fintech lenders often face significant barriers in accessing comprehensive customer data, which restricts their capacity to support non-standard credit models. More emphasis is required to be assigned to research on the economic impact of open banking.

Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of behavior toward those choices might not be the ones we were all taught, and still teach, and that subjective risk perceptions might not accord with expert assessments of probabilities. In addition to these challenges, we are faced with the need to jettison naive notions of revealed preferences, according to which every choice by a subject expresses her objective function, as behavioral evidence forces us to confront pervasive inconsistencies and noise in a typical individual’s choice data. A principled account of errant choice must be built into models used for identification and estimation. These challenges demand close attention to the methodological claims often used to justify policy interventions. They also require, we argue, closer attention by economists to relevant contributions from cognitive science. We propose that a quantitative application of the “intentional stance” of Dennett provides a coherent, attractive and general approach to behavioral welfare economics.

This study assesses the SDG-related well-being of indigenous communities in India using bibliometric analysis and the ADO-TCM framework. It provides insights into their alignment with sustainable development objectives.

This study analysed 74 high-impact journals using bibliometric analysis to evaluate the well-being of India’s indigenous peoples about the SDGs.

This study analyses the well-being of tribal communities in India using existing scholarly articles and the ADO-TCM framework. It emphasises the importance of implementing Sustainable Development Goals (SDGs) to promote the well-being of indigenous populations.

This study uses bibliometric analysis and the ADO-TCM framework to investigate factors impacting tribal community welfare. It proposes theoretical frameworks, contextual considerations and research methodologies to achieve objectives.

This study aims to offer an up-to-date estimate of capital flight from selected emerging Asian economies and examine the anti-growth phenomenon of capital flight by using annual data for the period 1981–2019.

The study relies on residual methods to derive the estimate of capital flight with necessary adjustments. It then applies the autoregressive distributed lag Bounds testing approach in examining the impact of capital flight on the economic growth of Asian emerging economies.

The study identifies capital flight as the attributor to the slower economic growth of the selected emerging economies of Asia.

Apart from appropriate policies addressing the issues causing capital flight, unleashing the way of private sector-led growth of the emerging countries with necessary policy, infrastructural, institutional and regulatory support can rather help them retain and repatriate domestic capital.

The capital flight estimates in earlier studies are antithetical as they differ in terms of definition and estimation procedure. Again, the growth effect of capital flight in these economies has received meager attention in research and policy debates. Furthermore, being country-specific or region-specific, existing studies are unable to compare the growth effect of capital flight for different emerging economies in this region. Examining the growth effects for a large number of countries separately based on a common estimate of capital flight can resolve these issues that this study aims to do.

The study investigates the influence of inclusive growth on tax revenue. It validates the fiscal exchange and resource bargaining theories, which suggest that tax compliance improves when citizens perceive that their tax contributions lead to enhanced welfare and that the government negotiates with people to provide public goods and services in exchange for taxes received.

The paper employs inclusive growth measures, including an integrated GDP and equity growth measure and alternative proxies based on GDP per person employed and Asian Development Bank (ADB) inclusive growth indicators. Using 39 sub-Saharan African countries as a sample, our analysis captures spatial interactions across these contiguous countries using the Fixed-Effect model with the Driscoll and Kraay non-parametric consistent covariance matrix and the spatial Durbin Arellano–Bond linear dynamic panel generalized method of moment (Spatial GMM) approach with an interaction weight matrix to capture interactions between countries in the region.

The paper shows that inclusive growth positively influences tax revenue in the region. This validates the fiscal exchange and resource bargaining hypotheses, demonstrating that tax compliance is positively influenced by public goods provision and the government’s ability to emphasize the necessity of taxes for service provision. It indicates that citizens are more willing to pay taxes when the government effectively promotes welfare. We find a significant positive spatial spillover effect, suggesting that inclusive growth not only boosts tax revenue within a specific country but also extends its benefits to neighboring countries, aligning with the spillover theory.

The study posits that the government implements policies that guarantee effectiveness and accountability in public welfare delivery as well as sufficient tax bases and tax revenue. An inclusive growth policy that engenders GDP growth, employment and equity growth should be implemented since the rate of tax compliance of the citizens improves for every welfare provided by the government.

This study tests the validity of the fiscal exchange and resource bargaining theories in Sub-Saharan Africa. Accommodating spatial dependence and cross-border effects, the study sheds light on how inclusive growth impacts tax revenue across contiguous countries in the region. As such, the region should prioritize regional integration, fostering economic ties and harmonizing policies through knowledge sharing and cross-border investment.

The goal of this paper is to investigate the antecedent of employee performance (EP) through perceived organizational support (POS), as well as the moderating role of job satisfaction (JS) on the connection between POS and EP among employees of small and medium enterprises (SMEs) in Northwest Nigeria, using social exchange theory (SET) and organizational support theory (OST).

This research employed a survey design, using SMEs employees in Northwest Nigeria as the research unit of analysis. Purposive sampling was used in this research, with standardized questionnaires used to obtain data from 1750 employees of the targeted SMEs within the region. This study’s hypotheses were tested using partial least square–structural equation modeling (PLS-SEM).

The findings of this research stated that POS has a substantial effect on EP, while JS moderates the association between POS and EP.

The study offers practical insights for SMEs in Northwest Nigeria, aiding in resolving employee issues and providing actionable strategies for management. Understanding the dynamics of perceived organizational support, job satisfaction and employee performance enables proactive measures to improve organizational effectiveness, fostering a positive work environment and enhancing competitive edge.

This study innovates existing literature by exploring how perceived organizational support affects employee performance in small and medium-sized enterprises in an emerging economy. It introduces PLS-SEM, emphasizing job satisfaction’s pivotal role as a moderator. This provides valuable guidance for SMEs to boost employee performance and formulate effective HR strategies, advancing organizational behavior and management research.

This study aims to examine the use of robot technologies in the food and beverage sector, an important component of the tourism industry, to reduce unskilled labor in the sector. The discussion is based on a review of the literature.

This paper presents a qualitative study that explores the impact of robotization on the perception of unskilled labor in the food and beverage business in general.

Robotic technologies, which have become prominent in the industry 4.0 era, can potentially eliminate the perception of “unskilled labor” in the tourism sector and make it a more desirable field to work in. This shift could encourage people to pursue skilled jobs with a stronger cognitive aspect, leading to an improvement in quality of life due to time savings and greater employment stability.

This research emphasizes the significance of implementing robotics in the food and beverage business, which is an important component of the tourism sector, to reduce the number of unskilled workers in the sector.