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This study examines the importance of exchange rate and credit growth fluctuations when designing monetary policy in Thailand. To this end, the authors construct a small open economy New Keynesian dynamic stochastic general equilibrium (DSGE) model. The model encompasses several essential characteristics, including incomplete financial markets, incomplete exchange rate pass-through, deviations from the law of one price and a banking sector. The authors consider generalized Taylor rules, in which policymakers adjust policy rates in response to output, inflation, credit growth and exchange rate fluctuations. The marginal likelihoods are then employed to investigate whether the central bank responds to fluctuations in the exchange rate and credit growth.

This study constructs a small open economy DSGE model and then estimates the model using Bayesian methods.

The authors demonstrate that the monetary authority does target exchange rates, whereas there is no evidence in favor of incorporating credit growth into the policy rules. These findings survive various robustness checks. Furthermore, the authors demonstrate that domestic shocks contribute significantly to domestic business cycles. Although the terms of trade shock plays a minor role in business cycles, it explains the most significant proportion of exchange rate fluctuations, followed by the country risk premium shock.

This study is the first attempt at exploring the relevance of exchange rate and credit growth fluctuations when designing monetary policy in Thailand.

The purpose of this paper is to unravel the specific service quality dimensions that significantly influence startup survival, providing actionable insights for service managers and entrepreneurs.

Empirical data were collected from 372 service startups over a period of seven years. The Cox proportional hazard model was used to analyze the data.

The results indicate that the tangible dimension of service quality emerges as the most critical determinant of startup survival. Additionally, the reliability and responsiveness of the service also significantly affect startup survival. Furthermore, the assurance and empathy dimensions have a positive, albeit modest, influence on the survival prospects of service startups.

This study contributes to the service literature by investigating the relative importance of each dimension of service quality in relation to the survival of service startups.

The empirical findings empower service startups to make informed decisions, allocate resources judiciously and prioritize aspects of service quality that have a significant impact on their survival and success.

The social implications indicate the significance of service quality dimensions not only for the success of service startups but also for the overall well-being of customers, local economies and the competitive landscape of the service sector.

This study contributes to service science by uniquely highlighting the critical role of tangibles in startup survival, challenging conventional beliefs about the primacy of service reliability.

This study investigates the effect of business cycles on school enrollment in Turkey. During recessions, school enrollment might increase as opportunity cost of schooling declines, yet it might also decrease because of reduced income households have for education. Which effect dominates depends on the context. We empirically explore this in a context displaying canonical features of developing countries.

Using the Turkish Household Labor Force Survey data for a period covering the Great Recession, we estimate the effect of unemployment rate separately for enrollments in general and vocational high schools and in undergraduate programs. To understand the cyclicality, we use a probit model with the regional and time variations in unemployment rates. We also build a simple theoretical model of work-schooling choice to interpret the findings.

We find that the likelihood of enrolling in general high schools and undergraduate programs declines with higher adult unemployment rates, but the likelihood of enrollment in vocational high schools increases. Confronting these empirical findings with the theoretical model suggests that the major factor in enrollment cyclicality in Turkey is how parental resources allocated to education change during recessions by schooling type.

Our finding of pro-cyclical enrollment in academically oriented programs is in contrast with counter-cyclicality documented for similar programs in developed countries, which highlights the importance of income related factors in developing-country contexts. Our heterogeneous findings for general and vocational high schools are also novel.

This chapter reviews the econometric approaches typically used to deal with the spike of zeros when modelling non-negative outcomes such as expenditures, income, or consumption. Relying on the assumptions of selection on observables for evaluating a policy or treatment, this chapter discusses other issues that arise with spikes of zeros in the data, including the analyst's choice between full information versus quasi-likelihood methods, considering whether observed zeros are true or masking more complex behavioural decisions, and dealing with zeros that arise due to self-selection. This chapter ends with discussions of empirical strategies to deal with these behavioural assumptions and a brief review of the literature where such strategies were employed.

The purpose of this study is to investigate the effect of noncognitive skills on educational mismatch in the context of China and to further explore the potential mechanisms concerning how noncognitive skills determine mismatch outcomes.

This paper uses the Chinese Family Panel Survey of 2018, which provides the Big Five Personality Inventory to assess respondents' noncognitive skills and contains information on educational mismatch. The authors estimate the effects of noncognitive skills on educational mismatch by means of a probit model. Additionally, the correlated random effects (CRE) model and instrumental variable (IV) approach have also been exploited in the robust checks.

The findings show that the composite score of noncognitive skills reduces the probability of being overeducated and, conversely, increases the likelihood of being undereducated. When distinguishing the effects of different personality traits, the authors find significantly negative effects of agreeableness and openness on overeducation and a positive effect of openness on undereducation. With regard to heterogeneous analysis, the effects of noncognitive skills on educational mismatch exist mostly among white-collar employees and employees with fewer than 5 years of work experience. Finally, the authors provide two likely mechanisms related to job search effort and social capital, followed by the presentation of supporting evidence.

The results of this paper underline the importance of noncognitive skills in raising the quality of jobs that individuals can obtain. This suggests that the development of noncognitive skills should be encouraged to be integrated into formal education systems and social job training programs in China.

Despite a growing interest in its consequences in the labor market, the role of noncognitive skills in determining educational mismatch has rarely been discussed in developing countries. This study provides the first evidence regarding the effects of noncognitive skills on education mismatch in China. It contributes to the research on noncognitive skills' labor market outcomes and enhances the understanding of the factors driving educational mismatch.

Multiple chronic conditions (MCCs) have attracted significant public policy and clinical attention. Whether MCCs determine other important outcomes, or are themselves the outcomes of health-producing activities or interventions, metrics based thereon have potential to be useful indicators of the health of populations and of differences between and among the health of subpopulations. While the attention MCCs are attracting in various policy circles is impressive, MCCs' potential roles as indicators of population health and of how health determinants influence population–health outcomes have received less attention. The purpose of this chapter is to direct attention towards questions that involve considerations of chronic condition (CC) patterns as health outcomes; specifically, this paper hopes to advance the consideration of patterns of MCCs as indicators of individual and population health. Using data from the United States (US) Behavioural Risk Factor Surveillance System (BRFSS), the chapter explores whether both the ‘intensity’ (i.e. the number or count) of CCs as well as their ‘composition’ (i.e. the patterns of particular CCs) might be jointly of interest when considering the prevalence of MCCs in populations and how the nature of MCCs may vary across subpopulations of interest. It is seen that information about intensity tells an incomplete story about MCC health outcomes.

There is extensive literature on the determinants of job tenure insecurity. However, very little is known about the individual drivers of labour market insecurity. Additionally, while a piece of literature shows that volunteering improves workers' income, no study considers volunteering as an activity which could help workers to feel more confident about their perception of labour market insecurity if they lost or resigned their jobs. Therefore, purpose of this paper is to study whether workers who volunteer are less likely to perceive labour market insecurity.

The paper employs data from the sixth European working conditions survey which provides a great deal of information on working conditions. For the empirical investigation, probit model as well as robustness analysis have been implemented.

Results show that employees who do voluntary activities have a greater likelihood of declaring perceived labour market insecurity, which is nearly 3 percentage points lower, than employees who do not volunteer. Findings suggest that governments need to improve the relationship between for-profit and non-profit sectors to encourage volunteering.

This is the first study which considers volunteering as an activity which could help workers to feel more confident about their perception of “labour market insecurity”. Most of the studies on “labour market insecurity” do not focus on the workers individual characteristics but mainly on the labour markets institutional characteristics and welfare regimes differences.

This study assesses the probability of an OECD member country exhibiting high persistence in unemployment duration, considering income inequality, productivity, accumulation of human capital and labor income share in Gross Domestic Product (GDP) between the years 2013–2019.

To achieve the purpose of the study, a probabilistic analysis with panel data is employed, focusing on 20 OECD countries segmented into two groups: those with high persistence and low persistence in unemployment duration. Probit and Logit models are estimated, marginal changes are analyzed and the models are evaluated in terms of their classification accuracy. Finally, trends in probabilities over time are examined.

This paper exhibits that countries with higher human capital index, greater labor income share in GDP, and more relevant productivity for well-being reduce their probabilities of experiencing high persistence in unemployment duration. It is observed that Mexico (MEX), Greece (GRC), Italy (ITA), and Turkey (TUR) have elevated probabilities of experiencing high persistence in unemployment duration in the future, while Costa Rica (CRI), Estonia (EST), Slovakia (SVK), Czech Republic (CZE), Lithuania (LTU), Poland (POL), and Israel (ISR) show a marked downward trend in these probabilities. Lastly, countries like the United Kingdom (GBR), Denmark (DNK), Sweden (SWE), Norway (NOR), Netherlands (NLD), Germany (DEU), United States (USA), and Canada (CAN) present minimal risk of experiencing high persistence in unemployment duration in the future.

The measurement of the relationship between development outcomes and persistence in unemployment duration has been scarce. Generally, the literature has focused on the analysis of development and unemployment without delving into the duration of unemployment, let alone persistence in duration.

This paper provides a solid foundation for the formulation of policies aimed at promoting sustainable employment and inclusive economic growth.

Based on the findings of the study, two key development policies are proposed. Firstly, the implementation of investment programs in Human Capital to increase productivity is recommended. Resources should be directed towards initiatives that improve the necessary skills and competencies in the labor markets of OECD countries, especially in strategic economic sectors with higher production linkages. Additionally, incentivizing the application of active labor policies is proposed. This entails prioritizing policies aimed at increasing the labor income share in GDP through progressive fiscal reforms that strengthen social safety nets and ensure fair labor standards. Implementing employment programs targeted at vulnerable groups, such as long-term unemployed individuals, youth, female heads of households and marginalized communities, is also recommended to eliminate structural barriers to labor market participation and reduce disparities in unemployment persistence. Adopting these policies can help mitigate the risk of high unemployment duration persistence and foster sustainable and inclusive long-term economic growth.

This is the first study to analyze the probabilities of both developing and developed countries experiencing high persistence in unemployment duration. It specifically evaluates these probabilities over a period of time and also estimates potential outcomes if real investments were made to enhance their human capital, productivity and employability.

This paper investigates the ways digital media applications in rural areas have transformed the influence of social networks (SN) on farmers' adoption of various climate change mitigation measures (CCMM), and explores the key mechanisms behind this transformation.

The study analyzes data from 1,002 farmers’ surveys. First, a logit model is used to measure the impact of SN on the adoption of different types of CCMM. Then, the interaction term between digital media usage (DMU) and SN is introduced to analyze the moderating effect of digital media on the impact of SN. Finally, a conditional process model is used to explore the mediating mechanism of agricultural socialization services (ASS) and the validity of information acquisition (VIA).

The results reveal that: (1) SN significantly promotes the adoption of CCMM and the marginal effect of this impact varies with different kinds of technologies. (2) DMU reinforces the effectiveness of SN in promoting farmers' adoption of CCMM. (3) The key mechanisms of the process in (2) are the ASS and the VIA.

This study shows that in the context of DMU, SN’s promotion effect on farmers' adoption of CCMM is strengthened.

Financial inclusion and digital finance go side by side and help enhance agricultural activities; however, the magnitude of digital financial services varies across countries. In line with this argument, this study aims to examine whether financial inclusion enhances agricultural participation and decompose the significance of the difference in determinants of agricultural participation between financially included – not financially included households and digital finance – no digital finance households.

This study uses Pakistan’s household integrated economic survey 2018/19 to test hypotheses. The logit model is used to examine the effect of financial inclusion on agriculture participation. Moreover, this study employs a nonlinear Fairlie Oaxaca Blinder technique to investigate the difference in determinants of agricultural participation.

This study reports that financial inclusion positively influences agricultural participation, meaning households may have access to financial services and participate in agricultural activities. The results suggest that the likelihood of participating in agriculture in households with mobiles and smartphones is higher. Moreover, household size, income, age, gender, education, urban, remittances from abroad, fertilizer, pesticides, wheat, cotton, sugarcane, fruits and vegetables are the significant determinants of agricultural participation. To distinguish the financially included – not financially included households’ gap, this study employs a nonlinear Fairlie Oaxaca Blinder decomposition and finds that differences in fertilizer explain the substantial gap in agricultural participation. Likewise, this study tests the digital finance – no digital finance gap and finds that the difference in fertilizer is a significant contributor, describing a considerable gap in agricultural participation.

Empirically identified that various factors cause agricultural participation including financial inclusion and digital finance. Regarding the research limitation, this study only considers a developing country to analyze the findings. However, for future research, scholars may consider some other countries to compare the results and identify their differences.

The accessibility of fertilizer can reduce the agricultural participation gap. However, increased income level, education and cotton and sugar production can also overcome the differences in agriculture participation between digital finance and no digital finance households.

This is the first study to decompose the difference in determinants of agricultural participation between financially and not financially included households.