Pub Date : 2025-02-01DOI: 10.1016/j.rie.2025.101031
Léonard Moulin , Mara Soncin
The learning loss caused by the COVID-19 pandemic on students’ outcomes is likely to have lasting effects on which evidence is lacking. Using a difference-in-differences design through a triple difference estimator, we identify the evolution of the COVID-19 pandemic’s impact on Italian students’ test scores in the two years following the COVID-19 outbreak. Our findings indicate a persistently negative effect on mathematics and reading scores for grade 5 and grade 8 students in 2021–22, two years after the pandemic began. The magnitude compared the cohort that attended the same grades the year before (2020-21) varies by subject and grade. Our analysis highlights the pandemic’s heterogeneous impact, especially in terms of geographical differences that have been exacerbated by the emergency.
{"title":"Persistent impacts of the COVID-19 pandemic on student outcomes in Italy","authors":"Léonard Moulin , Mara Soncin","doi":"10.1016/j.rie.2025.101031","DOIUrl":"10.1016/j.rie.2025.101031","url":null,"abstract":"<div><div>The learning loss caused by the COVID-19 pandemic on students’ outcomes is likely to have lasting effects on which evidence is lacking. Using a difference-in-differences design through a triple difference estimator, we identify the evolution of the COVID-19 pandemic’s impact on Italian students’ test scores in the two years following the COVID-19 outbreak. Our findings indicate a persistently negative effect on mathematics and reading scores for grade 5 and grade 8 students in 2021–22, two years after the pandemic began. The magnitude compared the cohort that attended the same grades the year before (2020-21) varies by subject and grade. Our analysis highlights the pandemic’s heterogeneous impact, especially in terms of geographical differences that have been exacerbated by the emergency.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 2","pages":"Article 101031"},"PeriodicalIF":1.2,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143096549","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-01-31DOI: 10.1016/j.rie.2025.101025
Joan E. Madia , Francesco Moscone , Asieh Hosseini Tabaghdehi , Jong-Chol An , Changkeun Lee
This study investigates the link between taxation and fertility in South Korea, focusing on the historical period surrounding the mid-70s tax reforms. The longstanding decline in fertility rates has been widely discussed in relation to factors such as increasing human capital, women’s employment, and rising housing costs, leading couples to postpone or forego childbearing decisions. However, less attention has been paid to how tax policies that influence disposable income and economic planning horizons could indirectly affect fertility choices. While taxation is crucial for funding social security systems, policies that reduce household resources without considering demographic impacts may have unintended consequences on population dynamics. Using a time-series of country-year from the World Bank, we exploit South Korea’s major mid-1970s tax reforms as a natural experiment to test the hypothesis that higher tax burdens also contributed to reducing fertility over the subsequent decades. The results suggest considerable negative effect of the mid-1970s tax reforms on fertility in South Korea. This macro-analysis shows tax policies can influence population dynamics, but lacks insight into how tax changes affected childbearing decisions at the household level. Future micro-level studies could reveal mechanisms linking tax policies and fertility behavior. Still, this study highlights potential demographic impacts of taxation policies. Policymakers should consider such consequences when modifying tax systems, especially policies related to family resources and child affordability.
{"title":"Fertility decline and tax revenues in South Korea","authors":"Joan E. Madia , Francesco Moscone , Asieh Hosseini Tabaghdehi , Jong-Chol An , Changkeun Lee","doi":"10.1016/j.rie.2025.101025","DOIUrl":"10.1016/j.rie.2025.101025","url":null,"abstract":"<div><div>This study investigates the link between taxation and fertility in South Korea, focusing on the historical period surrounding the mid-70s tax reforms. The longstanding decline in fertility rates has been widely discussed in relation to factors such as increasing human capital, women’s employment, and rising housing costs, leading couples to postpone or forego childbearing decisions. However, less attention has been paid to how tax policies that influence disposable income and economic planning horizons could indirectly affect fertility choices. While taxation is crucial for funding social security systems, policies that reduce household resources without considering demographic impacts may have unintended consequences on population dynamics. Using a time-series of country-year from the World Bank, we exploit South Korea’s major mid-1970s tax reforms as a natural experiment to test the hypothesis that higher tax burdens also contributed to reducing fertility over the subsequent decades. The results suggest considerable negative effect of the mid-1970s tax reforms on fertility in South Korea. This macro-analysis shows tax policies can influence population dynamics, but lacks insight into how tax changes affected childbearing decisions at the household level. Future micro-level studies could reveal mechanisms linking tax policies and fertility behavior. Still, this study highlights potential demographic impacts of taxation policies. Policymakers should consider such consequences when modifying tax systems, especially policies related to family resources and child affordability.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 2","pages":"Article 101025"},"PeriodicalIF":1.2,"publicationDate":"2025-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143135590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-01-29DOI: 10.1016/j.rie.2025.101042
Muhammad Nadir Shabbir , Duong Thuy Linh
From 2009 to 2023, the study investigates in 78 developing nations the link between green innovation, Green GDP, and globalization. It finds using dynamic panel data models that green innovation greatly increases Green GDP while globalization has a beneficial moderating effect by allowing technological transfer and worldwide cooperation. Using econometric methods, an ecologically inclusive metric—green GDP—is examined to handle problems including heteroscedasticity and endogeneity. Emphasizing customized policy measures, the research also finds thresholds in the efficacy of green innovation depending on human development levels. Robustness tests validate the results and underline the need of green innovation in sustainable development as well as the combined effect of globalization. Particularly addressing issues in the framework of developing economies, this study offers insightful analysis for legislators and stakeholders to promote sustainable economic growth by means of innovation and globalization in developing countries.
{"title":"Globalizing green innovation: Impact on green GDP and pathways to sustainability","authors":"Muhammad Nadir Shabbir , Duong Thuy Linh","doi":"10.1016/j.rie.2025.101042","DOIUrl":"10.1016/j.rie.2025.101042","url":null,"abstract":"<div><div>From 2009 to 2023, the study investigates in 78 developing nations the link between green innovation, Green GDP, and globalization. It finds using dynamic panel data models that green innovation greatly increases Green GDP while globalization has a beneficial moderating effect by allowing technological transfer and worldwide cooperation. Using econometric methods, an ecologically inclusive metric—green GDP—is examined to handle problems including heteroscedasticity and endogeneity. Emphasizing customized policy measures, the research also finds thresholds in the efficacy of green innovation depending on human development levels. Robustness tests validate the results and underline the need of green innovation in sustainable development as well as the combined effect of globalization. Particularly addressing issues in the framework of developing economies, this study offers insightful analysis for legislators and stakeholders to promote sustainable economic growth by means of innovation and globalization in developing countries.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 1","pages":"Article 101042"},"PeriodicalIF":1.2,"publicationDate":"2025-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143103982","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The BRICS countries have a significant influence on global environmental issues, ranking among the world's top polluters. Similarly, they possess the world's largest foreign exchange reserves. Nevertheless, this intriguing intertwining has not been investigated. This research gap inspired the study to examine how environmental conditions react to the accumulation of international reserves and to explore the potential existence of an inverted U-shaped relationship between 1993 and 2020. The empirical findings using Method of Moments Quantile Regression (MMQR) indicate an inverted U-shaped relationship between international reserves and environmental degradation in the BRICS countries. Initially, reserve accumulation is harmful to the environment, suggesting a prioritization of reserve accumulation over environmental sustainability. However, once a certain level is reached, reserves start to help protect the environment. Additional findings reveal that nonrenewable energy consumption, GDP, and population negatively affect the environment, whereas exports have a positive influence. The impact of FDI, however, is inconsistent and frequently lacks significance over time. Furthermore, the causality analysis supports all of the aforementioned findings.
{"title":"Bridging the divide: Exposing the intriguing link between international reserves and environmental status through the inverted U-shaped relationship","authors":"Aissa Djedaiet , Hicham Ayad , Salim Bourchid Abdelkader","doi":"10.1016/j.rie.2025.101041","DOIUrl":"10.1016/j.rie.2025.101041","url":null,"abstract":"<div><div>The BRICS countries have a significant influence on global environmental issues, ranking among the world's top polluters. Similarly, they possess the world's largest foreign exchange reserves. Nevertheless, this intriguing intertwining has not been investigated. This research gap inspired the study to examine how environmental conditions react to the accumulation of international reserves and to explore the potential existence of an inverted U-shaped relationship between 1993 and 2020. The empirical findings using Method of Moments Quantile Regression (MMQR) indicate an inverted U-shaped relationship between international reserves and environmental degradation in the BRICS countries. Initially, reserve accumulation is harmful to the environment, suggesting a prioritization of reserve accumulation over environmental sustainability. However, once a certain level is reached, reserves start to help protect the environment. Additional findings reveal that nonrenewable energy consumption, GDP, and population negatively affect the environment, whereas exports have a positive influence. The impact of FDI, however, is inconsistent and frequently lacks significance over time. Furthermore, the causality analysis supports all of the aforementioned findings.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 1","pages":"Article 101041"},"PeriodicalIF":1.2,"publicationDate":"2025-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143103980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-01-27DOI: 10.1016/j.rie.2025.101035
Roni Frish
This paper builds on Clague's argument that countries with skilled workers have lower costs for producing nontradable services, leading to a lower price level. It formalizes this idea in a model and validates it empirically using data from 95 countries over five decades. The analysis shows a significant negative effect of workforce education on the price level, confirming the Clague effect. However, this effect has diminished in the last two decades, likely due to skill-intensive services becoming more tradable through international e-commerce. The study highlights omitted variable bias in Balassa-Samuelson hypothesis tests, as they often exclude workforce skill level, which affects price level and productivity.
{"title":"The effect of a skilled workforce on price levels","authors":"Roni Frish","doi":"10.1016/j.rie.2025.101035","DOIUrl":"10.1016/j.rie.2025.101035","url":null,"abstract":"<div><div>This paper builds on Clague's argument that countries with skilled workers have lower costs for producing nontradable services, leading to a lower price level. It formalizes this idea in a model and validates it empirically using data from 95 countries over five decades. The analysis shows a significant negative effect of workforce education on the price level, confirming the Clague effect. However, this effect has diminished in the last two decades, likely due to skill-intensive services becoming more tradable through international e-commerce. The study highlights omitted variable bias in Balassa-Samuelson hypothesis tests, as they often exclude workforce skill level, which affects price level and productivity.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 1","pages":"Article 101035"},"PeriodicalIF":1.2,"publicationDate":"2025-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143103981","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-01-26DOI: 10.1016/j.rie.2025.101034
Thai Hong Le, Minh Lam Mai, Mai Quynh Thi Nguyen, Anh Phuong Nguyen, Chi Phuong Do
This research aims to examine the influence of environmental tax, green innovation, and digital financial inclusion on energy transition in OECD countries during the period from 1994 to 2020. Results from the panel quantile regression analysis reveal that environmental tax positively influences the energy transition at the lower and middle quantiles whilst financial inclusion is positively associated with energy transition across all quantiles. Our results also show a positive relationship between green innovation and energy transition, though the lack of significant coefficients across all quantiles suggests a disparity between green innovation and immediate energy transition outcomes. Our findings highlight the need for regulatory agencies to design a flexible and fair environmental tax system, particularly in applying taxes according to the pollution intensity of different energy sources.
{"title":"Examining the role of environmental tax, green innovation, and digital financial inclusion for energy transition: Evidence from OECD countries","authors":"Thai Hong Le, Minh Lam Mai, Mai Quynh Thi Nguyen, Anh Phuong Nguyen, Chi Phuong Do","doi":"10.1016/j.rie.2025.101034","DOIUrl":"10.1016/j.rie.2025.101034","url":null,"abstract":"<div><div>This research aims to examine the influence of environmental tax, green innovation, and digital financial inclusion on energy transition in OECD countries during the period from 1994 to 2020. Results from the panel quantile regression analysis reveal that environmental tax positively influences the energy transition at the lower and middle quantiles whilst financial inclusion is positively associated with energy transition across all quantiles. Our results also show a positive relationship between green innovation and energy transition, though the lack of significant coefficients across all quantiles suggests a disparity between green innovation and immediate energy transition outcomes. Our findings highlight the need for regulatory agencies to design a flexible and fair environmental tax system, particularly in applying taxes according to the pollution intensity of different energy sources.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 1","pages":"Article 101034"},"PeriodicalIF":1.2,"publicationDate":"2025-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143103977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-01-25DOI: 10.1016/j.rie.2025.101040
Masanori Kuroki
This study investigates the impact of Vermont's Act 166 of 2014, which established universal pre-kindergarten, on birth rates among women aged 20–44. Contrary to the expectation of increased fertility, no meaningful increase in total, first, or subsequent birth rates was observed after program implementation. This aligns with existing research suggesting limited effectiveness of pronatalist policies. However, subsequent birth rates in Vermont declined at a slower rate than first birth rates compared to a synthetic control group, hinting at a potential positive influence on existing parents' decisions to have additional children.
{"title":"Does free pre-kindergarten increase birth rates? Preliminary evidence from Vermont","authors":"Masanori Kuroki","doi":"10.1016/j.rie.2025.101040","DOIUrl":"10.1016/j.rie.2025.101040","url":null,"abstract":"<div><div>This study investigates the impact of Vermont's Act 166 of 2014, which established universal pre-kindergarten, on birth rates among women aged 20–44. Contrary to the expectation of increased fertility, no meaningful increase in total, first, or subsequent birth rates was observed after program implementation. This aligns with existing research suggesting limited effectiveness of pronatalist policies. However, subsequent birth rates in Vermont declined at a slower rate than first birth rates compared to a synthetic control group, hinting at a potential positive influence on existing parents' decisions to have additional children.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 1","pages":"Article 101040"},"PeriodicalIF":1.2,"publicationDate":"2025-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143103978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-01-13DOI: 10.1016/j.rie.2025.101027
Nitish Kumar , Kundan Kumar
This study examines how the abundance of natural resources influences income inequality in India for the period 1971 to 2020. The study employs the Lee and Strazicich unit root test to identify structural break in the data, the Bayer-Hanck test of Co-integration and, methods for example FMOLS, DOLS and CRR to estimate long run coefficient. Further, to determine the direction of causality among the variables, Pairwise Granger Causality Tests is used. The results of Bayer-Hanck test for Co-integration confirms the presence of long-run association among variables. Empirical results show that income inequality is positively and significantly related with natural resources, urbanization, digitalization and physical capital, while it is negatively associated with human capital. The Granger Causality test reveals a bidirectional causal relation between natural resources and digitalization, whereas a unidirectional causal relationship is observed from human capital and physical capital to income inequality. The result of this study recommends policymakers, addressing income inequality in India requires effective and equitable allocation of resources, ensuring digital inclusion of its citizens, economic integration, promoting sustainable urban development and investment in both human and physical capital.
{"title":"Natural resources abundance and Income Inequality: Time series evidence from India","authors":"Nitish Kumar , Kundan Kumar","doi":"10.1016/j.rie.2025.101027","DOIUrl":"10.1016/j.rie.2025.101027","url":null,"abstract":"<div><div>This study examines how the abundance of natural resources influences income inequality in India for the period 1971 to 2020. The study employs the Lee and Strazicich unit root test to identify structural break in the data, the Bayer-Hanck test of Co-integration and, methods for example FMOLS, DOLS and CRR to estimate long run coefficient. Further, to determine the direction of causality among the variables, Pairwise Granger Causality Tests is used. The results of Bayer-Hanck test for Co-integration confirms the presence of long-run association among variables. Empirical results show that income inequality is positively and significantly related with natural resources, urbanization, digitalization and physical capital, while it is negatively associated with human capital. The Granger Causality test reveals a bidirectional causal relation between natural resources and digitalization, whereas a unidirectional causal relationship is observed from human capital and physical capital to income inequality. The result of this study recommends policymakers, addressing income inequality in India requires effective and equitable allocation of resources, ensuring digital inclusion of its citizens, economic integration, promoting sustainable urban development and investment in both human and physical capital.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 1","pages":"Article 101027"},"PeriodicalIF":1.2,"publicationDate":"2025-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143170457","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-01-12DOI: 10.1016/j.rie.2025.101024
Suparna Chakraborty , Miao Grace Wang , M. C. Sunny Wong
In this paper, we explore the agglomeration effect of culture on foreign direct investment (FDI). Using data on US FDI to 74 host countries from 1984 to 2017, our analysis shows a negative effect of bilateral cultural distance on US FDI to a host, consistent with previous studies. Central to our research is the application of a higher-order spatial model, which enables us to examine correlations of FDI across various hosts along both geographical and cultural dimensions. We find that US FDI across culturally similar host nations move together. Specifically, our results show that US FDI in a host may rise by 0.25% with every 1% increase in US FDI in other hosts that are culturally similar to the host of interest. Such results are robust to a battery of sensitivity checks, such as controlling for spatial correlation of geographically proximate hosts. Further, the agglomeration effects also display significant variations across industries.
{"title":"From globalization to glocalization: Cultural interdependence as a source of FDI motivation","authors":"Suparna Chakraborty , Miao Grace Wang , M. C. Sunny Wong","doi":"10.1016/j.rie.2025.101024","DOIUrl":"10.1016/j.rie.2025.101024","url":null,"abstract":"<div><div>In this paper, we explore the agglomeration effect of culture on foreign direct investment (FDI). Using data on US FDI to 74 host countries from 1984 to 2017, our analysis shows a negative effect of bilateral cultural distance on US FDI to a host, consistent with previous studies. Central to our research is the application of a higher-order spatial model, which enables us to examine correlations of FDI across various hosts along both geographical and cultural dimensions. We find that US FDI across culturally similar host nations move together. Specifically, our results show that US FDI in a host may rise by 0.25% with every 1% increase in US FDI in other hosts that are culturally similar to the host of interest. Such results are robust to a battery of sensitivity checks, such as controlling for spatial correlation of geographically proximate hosts. Further, the agglomeration effects also display significant variations across industries.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 1","pages":"Article 101024"},"PeriodicalIF":1.2,"publicationDate":"2025-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143103975","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-01-11DOI: 10.1016/j.rie.2025.101028
Christoph J. Börner, Ingo Hoffmann, Lars M. Kürzinger, Tim Schmitz
This study evaluates the risk associated with capital allocation in cryptocurrencies (CCs) using a basket of 27 CCs and the CC index EWCI-. We apply basic statistical tests to model the body distribution of CC returns. Consistent with prior research, the stable distribution (SDI) is the most suitable model for the body distribution. However, due to less favorable properties in the tail area for high quantiles, the generalized Pareto distribution is employed. A combination of both distributions is utilized to calculate Value at Risk and Conditional Value at Risk, revealing distinct risk characteristics in two subgroups of CCs.
{"title":"On the return distributions of a basket of cryptocurrencies and subsequent implications","authors":"Christoph J. Börner, Ingo Hoffmann, Lars M. Kürzinger, Tim Schmitz","doi":"10.1016/j.rie.2025.101028","DOIUrl":"10.1016/j.rie.2025.101028","url":null,"abstract":"<div><div>This study evaluates the risk associated with capital allocation in cryptocurrencies (CCs) using a basket of 27 CCs and the CC index EWCI-. We apply basic statistical tests to model the body distribution of CC returns. Consistent with prior research, the stable distribution (SDI) is the most suitable model for the body distribution. However, due to less favorable properties in the tail area for high quantiles, the generalized Pareto distribution is employed. A combination of both distributions is utilized to calculate Value at Risk and Conditional Value at Risk, revealing distinct risk characteristics in two subgroups of CCs.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"79 1","pages":"Article 101028"},"PeriodicalIF":1.2,"publicationDate":"2025-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143103979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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