Economic Analysis and Policy最新文献

英文中文

Food demand and intertemporal allocation of food expenditure

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-18 DOI: 10.1016/j.eap.2024.12.015

H．Youn Kim , K．K．Gary Wong

Existing studies on food consumption often ignore nonfood and fail to account for intertemporal allocation of food expenditure, which leads to a biased inference in food consumption analysis. To address this issue, the present paper proposes an integrated analysis of food demand and intertemporal food consumption via intertemporal two-stage budgeting with nonfood. A restricted indirect utility function is specified conditional on food expenditure with given nonfood, and unrestricted demand functions are derived for food and nonfood by endogenizing their expenditures with income. From intertemporal optimization with the restricted indirect utility function, Euler equations are derived for food expenditure and nonfood, and jointly estimated, using annual time series U.S. data for 1959–2019, with demand functions with nine food items and aggregate nonfood. Then restricted and unrestricted demand elasticities are estimated for food and nonfood, and various intertemporal issues are analyzed. Overall, this study provides novel and useful results relative to previous studies, and underscores the importance of an integrated analysis of food consumption.

{"title":"Food demand and intertemporal allocation of food expenditure","authors":"H．Youn Kim , K．K．Gary Wong","doi":"10.1016/j.eap.2024.12.015","DOIUrl":"10.1016/j.eap.2024.12.015","url":null,"abstract":"<div><div>Existing studies on food consumption often ignore nonfood and fail to account for intertemporal allocation of food expenditure, which leads to a biased inference in food consumption analysis. To address this issue, the present paper proposes an integrated analysis of food demand and intertemporal food consumption via intertemporal two-stage budgeting with nonfood. A restricted indirect utility function is specified conditional on food expenditure with given nonfood, and unrestricted demand functions are derived for food and nonfood by endogenizing their expenditures with income. From intertemporal optimization with the restricted indirect utility function, Euler equations are derived for food expenditure and nonfood, and jointly estimated, using annual time series U.S. data for 1959–2019, with demand functions with nine food items and aggregate nonfood. Then restricted and unrestricted demand elasticities are estimated for food and nonfood, and various intertemporal issues are analyzed. Overall, this study provides novel and useful results relative to previous studies, and underscores the importance of an integrated analysis of food consumption.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 656-674"},"PeriodicalIF":7.9,"publicationDate":"2024-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132213","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Regulatory enforcement and firm sustainability: Evidence from China's environmental public interest litigation reform

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-17 DOI: 10.1016/j.eap.2024.12.017

Bo Cheng , Zhimeng An , Wei Li

China has implemented stringent environmental regulations to reduce pollutant emissions and promote firm sustainability, while limited research has focused on the role of regulatory enforcement practices in achieving these goals. To fill this gap, we leverage the Environmental Public Interest Litigation (EPIL) reform in China as a quasi-natural experiment to investigate its impact on the ESG performance of listed manufacturing firms. Launched in 2015 by the Supreme People's Procuratorate of China, the EPIL reform aimed to address the lack of plaintiffs in environmental courts and curtail the protection of polluting firms by local governments and environmental departments. Our findings show that the EPIL reform significantly improves the ESG performance of manufacturing firms in the pilot cities. Further analysis reveals that this improvement is primarily driven by strengthened direct and indirect environmental regulations. Additionally, the EPIL reform has a more pronounced positive effect on ESG performance for heavily polluting firms, firms in regions with a healthy legal environment, and politically connected firms. Our study underscores the critical importance of regulatory enforcement efficiency in driving firm sustainability in emerging economies.

{"title":"Regulatory enforcement and firm sustainability: Evidence from China's environmental public interest litigation reform","authors":"Bo Cheng , Zhimeng An , Wei Li","doi":"10.1016/j.eap.2024.12.017","DOIUrl":"10.1016/j.eap.2024.12.017","url":null,"abstract":"<div><div>China has implemented stringent environmental regulations to reduce pollutant emissions and promote firm sustainability, while limited research has focused on the role of regulatory enforcement practices in achieving these goals. To fill this gap, we leverage the Environmental Public Interest Litigation (EPIL) reform in China as a quasi-natural experiment to investigate its impact on the ESG performance of listed manufacturing firms. Launched in 2015 by the Supreme People's Procuratorate of China, the EPIL reform aimed to address the lack of plaintiffs in environmental courts and curtail the protection of polluting firms by local governments and environmental departments. Our findings show that the EPIL reform significantly improves the ESG performance of manufacturing firms in the pilot cities. Further analysis reveals that this improvement is primarily driven by strengthened direct and indirect environmental regulations. Additionally, the EPIL reform has a more pronounced positive effect on ESG performance for heavily polluting firms, firms in regions with a healthy legal environment, and politically connected firms. Our study underscores the critical importance of regulatory enforcement efficiency in driving firm sustainability in emerging economies.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 530-545"},"PeriodicalIF":7.9,"publicationDate":"2024-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does the government digital attention improve China's digital economy output efficiency: Accelerator or inhibitor

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-17 DOI: 10.1016/j.eap.2024.12.020

Xiang Li , Shujing Yue

Building "Digital China" is an important engine for promoting China's modernization in the digital era. Studying the government attention to the digital economy is crucial for realizing the value of data elements and promoting the stable and long-term development of the digital economy. This paper uses panel data from Chinese provincial-level administrative regions from 2013 to 2021 as samples to theoretically analyze and empirically investigate the impact and mechanism of government digital attention on digital economy output efficiency. The research findings are as follows: (1) During the inspection period, government digital attention significantly enhances the digital economy output efficiency; specifically, for a 1 unit increase in government digital attention, the digital economy output efficiency increases by 9.99 %. (2) The impact of government digital attention on digital economy output efficiency is more effective in the central and western regions, areas with strong intellectual property protection, and regions with strong political promotion incentives. (3) Government digital attention promotes digital economy output efficiency through data openness mechanism and data flow mechanism. (4) In regions with lower media attention, government digital attention plays a more significant role in improving digital economy output efficiency, acting as a positive substitution role.

{"title":"Does the government digital attention improve China's digital economy output efficiency: Accelerator or inhibitor","authors":"Xiang Li , Shujing Yue","doi":"10.1016/j.eap.2024.12.020","DOIUrl":"10.1016/j.eap.2024.12.020","url":null,"abstract":"<div><div>Building \"Digital China\" is an important engine for promoting China's modernization in the digital era. Studying the government attention to the digital economy is crucial for realizing the value of data elements and promoting the stable and long-term development of the digital economy. This paper uses panel data from Chinese provincial-level administrative regions from 2013 to 2021 as samples to theoretically analyze and empirically investigate the impact and mechanism of government digital attention on digital economy output efficiency. The research findings are as follows: (1) During the inspection period, government digital attention significantly enhances the digital economy output efficiency; specifically, for a 1 unit increase in government digital attention, the digital economy output efficiency increases by 9.99 %. (2) The impact of government digital attention on digital economy output efficiency is more effective in the central and western regions, areas with strong intellectual property protection, and regions with strong political promotion incentives. (3) Government digital attention promotes digital economy output efficiency through data openness mechanism and data flow mechanism. (4) In regions with lower media attention, government digital attention plays a more significant role in improving digital economy output efficiency, acting as a positive substitution role.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 607-625"},"PeriodicalIF":7.9,"publicationDate":"2024-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143131914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The effectiveness of China's fiscal subsidy policies in supporting the development of rural inclusive finance

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-16 DOI: 10.1016/j.eap.2024.12.012

Xiang Yin , Yin-E Chen , Chun-Ping Chang

In China, fiscal subsidies can promote financial inclusion, but there are still policy failures. This paper uses deterministic evolutionary game and stochastic evolutionary game model to analyze the effectiveness and boundary conditions of fiscal subsidy policy to support rural inclusive financial development. The study found that an evolutionarily stable strategy will emerge only when targeted fiscal subsidies can cover the initial operating costs of an inclusive financial system. In the deterministic evolutionary game, there are two stable evolutionary strategies on the demand side due to financial literacy and economic differences. In a stochastic evolutionary game, the system converges to the (default, loan) strategy, and random disturbances weaken the effectiveness of the policy. Reducing the rate of targeted financial subsidies, reducing the value of collateral, and increasing the amount of loans can improve the effectiveness of policies. According to the research results, policy recommendations are put forward.

引用次数: 0

Does reduced tax avoidance affect CSR? Evidence from a Quasi-natural experiment in China

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-16 DOI: 10.1016/j.eap.2024.12.018

Danyu Zhu , Zijun Luo , Han Qin

Using the staggered implementation of the Golden Tax Project III in China, this paper finds that firms exposed to stricter tax supervision reduce their corporate social responsibility. The potential mechanism is that the implementation of the Golden Tax Project III mitigates firms' potential reputation risk and also reduces their available resources, thus alleviating the motivation and ability of corporate social responsibility. This conclusion remains after a series of robustness tests. In addition, the impact is more pronounced in firms with poor corporate governance and regions with higher supervision quality and informatization levels. Our findings align with the risk management theory, supplementing new evidence for the debate on the association between tax avoidance and corporate social responsibility.

引用次数: 0

The impact of RMB exchange rate changes on the prices of imported products by Chinese firms

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-16 DOI: 10.1016/j.eap.2024.12.014

Wenqian Zhang , Hao Wei

Controlling unreasonable increases in import prices and mitigating the risk of imported inflation are major real-world issues currently faced by China. As an important factor affecting import prices, scientifically revealing the pass-through patterns and mechanisms of exchange rates on import prices is crucial for the Chinese government to manage import price increases through exchange rate policy adjustments. This paper examines the impact of exchange rate fluctuations on the prices of imported products for Chinese firms. The results indicate that: (1) RMB appreciation significantly lowers import prices, with exchange rate pass-through exhibiting incompleteness and asymmetry. (2) Factors such as the quality and non-quality pricing of import products, overall market power in China, market power of importing firms, and import prices from third-party sources affect the degree of exchange rate pass-through. (3) The degree of pass-through varies based on product usage, degree of product differentiation, substitution elasticity of the product, and whether the product is a commodity. The findings of this study provide policy insights for China to effectively address rising import prices and mitigate import risks.

{"title":"The impact of RMB exchange rate changes on the prices of imported products by Chinese firms","authors":"Wenqian Zhang , Hao Wei","doi":"10.1016/j.eap.2024.12.014","DOIUrl":"10.1016/j.eap.2024.12.014","url":null,"abstract":"<div><div>Controlling unreasonable increases in import prices and mitigating the risk of imported inflation are major real-world issues currently faced by China. As an important factor affecting import prices, scientifically revealing the pass-through patterns and mechanisms of exchange rates on import prices is crucial for the Chinese government to manage import price increases through exchange rate policy adjustments. This paper examines the impact of exchange rate fluctuations on the prices of imported products for Chinese firms. The results indicate that: (1) RMB appreciation significantly lowers import prices, with exchange rate pass-through exhibiting incompleteness and asymmetry. (2) Factors such as the quality and non-quality pricing of import products, overall market power in China, market power of importing firms, and import prices from third-party sources affect the degree of exchange rate pass-through. (3) The degree of pass-through varies based on product usage, degree of product differentiation, substitution elasticity of the product, and whether the product is a commodity. The findings of this study provide policy insights for China to effectively address rising import prices and mitigate import risks.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 464-478"},"PeriodicalIF":7.9,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143131915","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How does AI affect urban carbon emissions? Quasi-experimental evidence from China's AI innovation and development pilot zones

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-16 DOI: 10.1016/j.eap.2024.12.013

Kun Zhang , Zi-Xuan Kou , Pei-Hua Zhu , Xiang-Yan Qian , Yun-Ze Yang

Artificial intelligence (AI) is gradually becoming an important engine for empowering urban economies, driving the low-carbon growth of cities. To promote the deep integration of AI with economic and social expansion, China has proposed building national new-generation AI innovation and development pilot zones (AIPZ) in cities. However, the impact of AIPZ construction on low-carbon development remains unclear. Using panel data from 276 cities in China from 2015 to 2022, we employed a difference-in-differences method to assess the impact of the AIPZ policy on urban carbon emissions (UCE). First, as verified by multiple robustness tests, the AIPZ policy effectively reduced UCE, with an average reduction of 3.4 %. Second, the policy helped lower urban pollutant emissions and achieved a synergistic effect of carbon and pollution reduction. Third, according to the mechanism analysis, the AIPZ policy promoted carbon reduction by optimizing the government spending structure and improving consumers’ online lifestyles. Additionally, the economic effect analysis revealed that the AIPZ policy reduced UCE by optimizing industrial structure, enhancing energy efficiency, and promoting technological innovation. Therefore, this study verifies the positive role of AI in reducing UCE and provides policy support for leveraging AI to promote green and low-carbon urban development.

{"title":"How does AI affect urban carbon emissions? Quasi-experimental evidence from China's AI innovation and development pilot zones","authors":"Kun Zhang , Zi-Xuan Kou , Pei-Hua Zhu , Xiang-Yan Qian , Yun-Ze Yang","doi":"10.1016/j.eap.2024.12.013","DOIUrl":"10.1016/j.eap.2024.12.013","url":null,"abstract":"<div><div>Artificial intelligence (AI) is gradually becoming an important engine for empowering urban economies, driving the low-carbon growth of cities. To promote the deep integration of AI with economic and social expansion, China has proposed building national new-generation AI innovation and development pilot zones (AIPZ) in cities. However, the impact of AIPZ construction on low-carbon development remains unclear. Using panel data from 276 cities in China from 2015 to 2022, we employed a difference-in-differences method to assess the impact of the AIPZ policy on urban carbon emissions (UCE). First, as verified by multiple robustness tests, the AIPZ policy effectively reduced UCE, with an average reduction of 3.4 %. Second, the policy helped lower urban pollutant emissions and achieved a synergistic effect of carbon and pollution reduction. Third, according to the mechanism analysis, the AIPZ policy promoted carbon reduction by optimizing the government spending structure and improving consumers’ online lifestyles. Additionally, the economic effect analysis revealed that the AIPZ policy reduced UCE by optimizing industrial structure, enhancing energy efficiency, and promoting technological innovation. Therefore, this study verifies the positive role of AI in reducing UCE and provides policy support for leveraging AI to promote green and low-carbon urban development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 426-447"},"PeriodicalIF":7.9,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143131918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Impact of short-term labor contracts on financial health: Evidence from migrant worker households in China

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-16 DOI: 10.1016/j.eap.2024.12.016

Liang Ma , Qiqi He , Qixu Gan

The increasing prevalence of short-term labor contracts in China's labor market, especially among migrant worker households, has raised significant concerns regarding their impact on financial health. This study examines the relationship between short-term labor contracts and the financial health of migrant worker households using data from the 2017 China Household Finance Survey (CHFS). Financial health is assessed using a comprehensive index that includes five dimensions: income and expenditure management, asset and liability management, liquidity management, risk protection, and retirement planning. To enhance the accuracy of the assessment, we employed the double-boundary method and applied ordinary least squares (OLS) and two-stage least squares (2SLS) regression models to address endogeneity concerns and ensure robustness. The results indicate that short-term contracts significantly reduce the financial health of migrant worker households, and the negative effect becomes more pronounced as contract durations decrease. This adverse impact is particularly evident among young, female-headed, small households, and those with high-risk preferences. Further analysis shows that short-term contracts predominantly affect financial health by reducing insurance participation, household income, and financial market engagement. Additionally, financial literacy is found to mitigate these negative effects, suggesting its important role in enhancing financial resilience. This study underscores the detrimental effects of short-term contracts on the financial health of migrant worker households and highlights the role of financial literacy as a mitigating factor. The findings provide valuable insights for policymakers and social organizations in developing targeted strategies to improve the financial well-being of this vulnerable group.

{"title":"Impact of short-term labor contracts on financial health: Evidence from migrant worker households in China","authors":"Liang Ma , Qiqi He , Qixu Gan","doi":"10.1016/j.eap.2024.12.016","DOIUrl":"10.1016/j.eap.2024.12.016","url":null,"abstract":"<div><div>The increasing prevalence of short-term labor contracts in China's labor market, especially among migrant worker households, has raised significant concerns regarding their impact on financial health. This study examines the relationship between short-term labor contracts and the financial health of migrant worker households using data from the 2017 China Household Finance Survey (CHFS). Financial health is assessed using a comprehensive index that includes five dimensions: income and expenditure management, asset and liability management, liquidity management, risk protection, and retirement planning. To enhance the accuracy of the assessment, we employed the double-boundary method and applied ordinary least squares (OLS) and two-stage least squares (2SLS) regression models to address endogeneity concerns and ensure robustness. The results indicate that short-term contracts significantly reduce the financial health of migrant worker households, and the negative effect becomes more pronounced as contract durations decrease. This adverse impact is particularly evident among young, female-headed, small households, and those with high-risk preferences. Further analysis shows that short-term contracts predominantly affect financial health by reducing insurance participation, household income, and financial market engagement. Additionally, financial literacy is found to mitigate these negative effects, suggesting its important role in enhancing financial resilience. This study underscores the detrimental effects of short-term contracts on the financial health of migrant worker households and highlights the role of financial literacy as a mitigating factor. The findings provide valuable insights for policymakers and social organizations in developing targeted strategies to improve the financial well-being of this vulnerable group.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 448-463"},"PeriodicalIF":7.9,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143131908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does the timing of subsidized loans matter for clean energy technological innovation? Evidence from China

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-15 DOI: 10.1016/j.eap.2024.12.011

Fengyun Liu, Jingqian Huang, Qu Yan, Lu Yao

Clean energy technological innovation is essential to reduce energy security risks, and policy support is necessary to remedy its double positive externalities. Subsidized loans are one of the important instruments by integrating policy and the market factors. However, issuing subsidized loans at different time points may have different impacts on corporate technological innovation. This is an issue that has not yet been clarified. The study involves the manual collection of data on subsidized loans of clean energy enterprises. Based on the time sequence of subsidized loans and enterprises’ research and development (R&D) activities, subsidized loans are manually classified into a “prior” group (low-interest loans where subsidies are given beforehand) and a “post” group (interest subsidies where subsidies are given afterwards). The impacts and associated mechanisms of subsidized loans at different time points on technological innovation of clean energy enterprises (TICE) are then analyzed. The results indicate that compared with interest subsidies, low-interest loans have a stronger positive effect on future TICE. Financing constraints play a mediating role in the process. Interest subsidies, as a type of post-subsidized loan, do not, by definition, stimulate TICE that has occurred in the past; instead, they may benefit future R&D activities. In addition, financial development may play a positive moderating role in the process of interest subsidies affecting future TICE. Moreover, there is heterogeneity in the impacts of subsidized loans on TICE. The government should attach importance to the prior subsidized loans to promote clean energy technological innovation, thus reducing energy security risks.

{"title":"Does the timing of subsidized loans matter for clean energy technological innovation? Evidence from China","authors":"Fengyun Liu, Jingqian Huang, Qu Yan, Lu Yao","doi":"10.1016/j.eap.2024.12.011","DOIUrl":"10.1016/j.eap.2024.12.011","url":null,"abstract":"<div><div>Clean energy technological innovation is essential to reduce energy security risks, and policy support is necessary to remedy its double positive externalities. Subsidized loans are one of the important instruments by integrating policy and the market factors. However, issuing subsidized loans at different time points may have different impacts on corporate technological innovation. This is an issue that has not yet been clarified. The study involves the manual collection of data on subsidized loans of clean energy enterprises. Based on the time sequence of subsidized loans and enterprises’ research and development (R&D) activities, subsidized loans are manually classified into a “prior” group (low-interest loans where subsidies are given beforehand) and a “post” group (interest subsidies where subsidies are given afterwards). The impacts and associated mechanisms of subsidized loans at different time points on technological innovation of clean energy enterprises (TICE) are then analyzed. The results indicate that compared with interest subsidies, low-interest loans have a stronger positive effect on future TICE. Financing constraints play a mediating role in the process. Interest subsidies, as a type of post-subsidized loan, do not, by definition, stimulate TICE that has occurred in the past; instead, they may benefit future R&D activities. In addition, financial development may play a positive moderating role in the process of interest subsidies affecting future TICE. Moreover, there is heterogeneity in the impacts of subsidized loans on TICE. The government should attach importance to the prior subsidized loans to promote clean energy technological innovation, thus reducing energy security risks.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 407-425"},"PeriodicalIF":7.9,"publicationDate":"2024-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Inflation expectations and house prices in the euro area

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy

Pub Date : 2024-12-15 DOI: 10.1016/j.eap.2024.12.010

Nektarios A. Michail, Kyriaki G. Louca

Inflation and inflation expectations are of the most watched macroeconomic variables, given the central banks’ usual inflation mandate. While inflation targets usually stand at two percent, households’ inflation perceptions differ substantially. Using a panel VAR approach and data for all 19 euro area countries, this study focuses on identifying the main determinants of households’ inflation expectations and perceptions. Our findings suggest that house price fluctuations have a primary role on the formation of public inflation expectations and perceptions and thus they should be taken into considerations for the formation of monetary policy.

引用次数: 0

首页上一页

下一页尾页

类型

全部化学•材料生命科学医学物理工程技术环境•农林材料科学地球科学法学管理学化学环境科学与生态学计算机科学教育学经济学农林科学人文科学生物学数学物理与天体物理心理学综合性期刊其他工业工程理学历史学农学文学信息工程

数据库

全部 ACS Publications Elsevier ieeexplore Springer The Royal Society of Chemistry Wiley

期刊

Economic Analysis and Policy

全部 Acc. Chem. Res. ACS Applied Bio Materials ACS Appl. Electron. Mater. ACS Appl. Energy Mater. ACS Appl. Mater. Interfaces ACS Appl. Nano Mater. ACS Appl. Polym. Mater. ACS BIOMATER-SCI ENG ACS Catal. ACS Cent. Sci. ACS Chem. Biol. ACS Chemical Health & Safety ACS Chem. Neurosci. ACS Comb. Sci. ACS Earth Space Chem. ACS Energy Lett. ACS Infect. Dis. ACS Macro Lett. ACS Mater. Lett. ACS Med. Chem. Lett. ACS Nano ACS Omega ACS Photonics ACS Sens. ACS Sustainable Chem. Eng. ACS Synth. Biol. Anal. Chem. BIOCHEMISTRY-US Bioconjugate Chem. BIOMACROMOLECULES Chem. Res. Toxicol. Chem. Rev. Chem. Mater. CRYST GROWTH DES ENERG FUEL Environ. Sci. Technol. Environ. Sci. Technol. Lett. Eur. J. Inorg. Chem. IND ENG CHEM RES Inorg. Chem. J. Agric. Food. Chem. J. Chem. Eng. Data J. Chem. Educ. J. Chem. Inf. Model. J. Chem. Theory Comput. J. Med. Chem. J. Nat. Prod. J PROTEOME RES J. Am. Chem. Soc. LANGMUIR MACROMOLECULES Mol. Pharmaceutics Nano Lett. Org. Lett. ORG PROCESS RES DEV ORGANOMETALLICS J. Org. Chem. J. Phys. Chem. J. Phys. Chem. A J. Phys. Chem. B J. Phys. Chem. C J. Phys. Chem. Lett. Analyst Anal. Methods Biomater. Sci. Catal. Sci. Technol. Chem. Commun. Chem. Soc. Rev. CHEM EDUC RES PRACT CRYSTENGCOMM Dalton Trans. Energy Environ. Sci. ENVIRON SCI-NANO ENVIRON SCI-PROC IMP ENVIRON SCI-WAT RES Faraday Discuss. Food Funct. Green Chem. Inorg. Chem. Front. Integr. Biol. J. Anal. At. Spectrom. J. Mater. Chem. A J. Mater. Chem. B J. Mater. Chem. C Lab Chip Mater. Chem. Front. Mater. Horiz. MEDCHEMCOMM Metallomics Mol. Biosyst. Mol. Syst. Des. Eng. Nanoscale Nanoscale Horiz. Nat. Prod. Rep. New J. Chem. Org. Biomol. Chem. Org. Chem. Front. PHOTOCH PHOTOBIO SCI PCCP Polym. Chem.

﹀