Changes In Productivity Research Articles

Long-term changes in productivity of conspicuous demersal species along the Peruvian and Chilean coasts using pre-image population analysis

Long-term changes in productivity of conspicuous demersal species along the Peruvian and Chilean coasts using pre-image population analysis

Centennial-millennial scale global climate-linked monsoonal and non-monsoonal changes in the eastern Arabian Sea during the last 42,800 years

The Arabian Sea significantly impacts the global climate due to its hosting of one of the largest sedimentary bodies in the Modern Ocean basin and thickest oxygen minimum zone. It makes the study of fine-scale evolutionary changes in the Arabian Sea imperative to address the ongoing challenges in developing a strong and cohesive model for predicting rapid climate change in the future. Therefore, this study carried out environmental magnetic, grain size, stable isotope, total organic carbon (TOC), trace elements (TE), and rare earth elements (REE) investigations on a well-dated 2.68 m long sediment core from the eastern Arabian Sea to understand the fluctuation in monsoon and non-monsoon-driven sediment supply and associated primary productivity changes during the late Quaternary. The careful observations of chronological changes in the investigated parameters concerning coeval major global events enabled us to successfully identify the response of major global climatic events that occurred around 42.8–28 ka, 17 ka, 14.5 ka, 11.7 ka, 9.7 ka, 8.2 ka, 4.6–3.9, and 2–0.6 ka. These global events also played a crucial role in co-regulating the water column oxygen conditions in the Arabian Sea. Comparing our record with a sedimentary record from off Chennai, Bay of Bengal, suggests that opposite variations (anti-phasing) between southwest (SW) monsoon and northeast (NE) monsoon is a post-25 ka phenomenon. Pre-25 ka SW and NE monsoon showed similar variations (same phase), and we speculate that this anti-phasing between the SW and NE monsoon was cyclically driven by the earth's axial precession cycle.

Quantifying cost of disease in livestock: a new metric for the Global Burden of Animal Diseases

Increasing awareness of the environmental and public health impacts of expanding and intensifying animal-based food and farming systems creates discord, with the reliance of much of the world's population on animals for livelihoods and essential nutrition. Increasing the efficiency of food production through improved animal health has been identified as a step towards minimising these negative effects without compromising global food security. The Global Burden of Animal Diseases (GBADs) programme aims to provide data and analytical methods to support positive change in animal health across all livestock and aquaculture animal populations. In this study, we present a metric that begins the process of disease burden estimation by converting the physical consequences of disease on animal performance to farm-level costs of disease, and calculates a metric termed the Animal Health Loss Envelope (AHLE) via comparison between the status quo and a disease-free ideal. An example calculation of the AHLE metric for meat production from broiler chickens is provided. The AHLE presents the direct financial costs of disease at farm-level for all causes by estimating losses and expenditure in a given farming system. The general specification of the model measures productivity change at farm-level and provides an upper bound on productivity change in the absence of disease. On its own, it gives an indication of the scale of total disease cost at farm-level. The AHLE is an essential stepping stone within the GBADs programme because it connects the physical performance of animals in farming systems under different environmental and management conditions and different health states to farm economics. Moving forward, AHLE results will be an important step in calculating the wider monetary consequences of changes in animal health as part of the GBADs programme. Bill & Melinda Gates Foundation, the UK Foreign, Commonwealth and Development Office, EU Horizon 2020 Research and Innovation Programme.

Reconstructing hypoxia on the eastern Arabian sea continental shelf during the past ∼7400 years: A multi-proxy approach

Shallow-sea environmental variations in the eastern Arabian Sea (EAS) have been related to monsoon variability, poorly ventilated intermediate water, and primary productivity changes. To understand these conditions, benthic foraminiferal assemblages, oxygen isotope ratios, and total organic carbon content have been examined in sediment Core SK291/GC13 from the EAS. We aim to retrieve decadal to centennial time-scale changes in past oxygenation and paleoproductivity during the last 7400 calibrated years before the present (cal yr BP). Our proxy data suggest that the oxic benthic foraminifera species were dominant during ∼7400–6000 cal yr BP. The change from oxic to dysoxic occurred during ca. 6000–3500 cal yr BP, and transition from dysoxic to suboxic environmental conditions happened at ca. ∼3500 cal yr BP. These changes are contemporaneous with weakening of the Indian summer monsoon beginning at ∼5500 cal yr BP which culminated into a major arid phase so-called ca 4.2 ka event in the Indian subcontinent. The EAS experienced low productivity during the early phase of our studied interval (∼7400–6000 cal yr BP) and higher productivity in the middle Holocene (6000–3000 cal yr BP), as revealed by the total organic carbon and benthic assemblages. Furthermore, productivity increased in the warm period and decreased in the Little Ice Age on a decadal scale. The spectral analysis of total organic content and suboxic species indicates a 23-year Hale (solar) cycle during the last millennium, indicating a close relationship between solar activity and monsoon variability. The strengthening of the El Nino-Southern Oscillation perhaps amplified due to increased solar activity in the last millennium, which influenced the climate of the EAS. The study highlights paleo-oxygenation shifts based on benthic foraminiferal assemblages, which are crucial for understanding changes in the oxygen minimum zones (OMZs) and their potential impacts on marine ecosystems.

Labor Mobility Networks and Green Total Factor Productivity

Population migration continues to reshape the spatial pattern of China’s population and regional economic development. During this internal migration process, production and consumption patterns often change, ultimately leading to changes in green total factor productivity. This paper, based on the Chinese population census data and 1% sampling survey data from 2005 to 2015, utilizes social network analysis methods to measure the labor mobility network indicators of 284 prefecture-level cities. Further, this paper analyzes the impact and mechanisms of regional network status on green total factor productivity using a panel fixed effects model. We find that as network density increases, the interpersonal connections between regions become closer, and the network exhibits a clear pattern of “concentrated inflows” and “dispersed outflows”, with the trend of forming strong alliances becoming increasingly apparent. Regions positioned centrally either in terms of network in-degree or out-degree exhibit higher green total factor productivity. Among these, the labor mobility network plays a crucial role in enhancing green total factor productivity through the channel of technology diffusion effects, which improve investment efficiency via knowledge exchange and material capital accumulation. The promotive effect of labor network status on green total factor productivity is more pronounced in the eastern regions, where talent quality is higher, and in areas with fewer restrictions from the household registration system.

GMP-compliant extracellular vesicles derived from umbilical cord mesenchymal stromal cells: manufacturing and pre-clinical evaluation in ARDS treatment

Background aimsExtracellular vesicles (EVs) represent a new axis of intercellular communication that can be harnessed for therapeutic purposes, as cell-free therapies. The clinical application of mesenchymal stromal cell (MSC)-derived EVs, however, is still in its infancy and faces many challenges. The heterogeneity inherent to MSCs, differences among donors, tissue sources, and variations in manufacturing conditions may influence the release of EVs and their cargo, thus potentially affecting the quality and consistency of the final product. We investigated the influence of cell culture and conditioned medium harvesting conditions on the physicochemical and proteomic profile of human umbilical cord MSC-derived EVs (hUCMSC-EVs) produced under current good manufacturing practice (cGMP) standards. We also evaluated the efficiency of the protocol in terms of yield, purity, productivity, and expression of surface markers, and assessed the biodistribution, toxicity and potential efficacy of hUCMSC-EVs in pre-clinical studies using the LPS-induced acute lung injury model. MethodshUCMSCs were isolated from a cord tissue, cultured, cryopreserved, and characterized at a cGMP facility. The conditioned medium was harvested at 24, 48, and 72 h after the addition of EV collection medium. Three conventional methods (nanoparticle tracking analysis, transmission electron microscopy, and nanoflow cytometry) and mass spectrometry were used to characterize hUCMSC-EVs. Safety (toxicity of single and repeated doses) and biodistribution were evaluated in naive mice after intravenous administration of the product. Efficacy was evaluated in an LPS-induced acute lung injury model. ResultshUCMSC-EVs were successfully isolated using a cGMP-compliant protocol. Comparison of hUCMSC-EVs purified from multiple harvests revealed progressive EV productivity and slight changes in the proteomic profile, presenting higher homogeneity at later timepoints of conditioned medium harvesting. Pooled hUCMSC-EVs showed a non-toxic profile after single and repeated intravenous administration to naive mice. Biodistribution studies demonstrated a major concentration in liver, spleen and lungs. HUCMSC-EVs reduced lung damage and inflammation in a model of LPS-induced acute lung injury. ConclusionshUCMSC-EVs were successfully obtained following a cGMP-compliant protocol, with consistent characteristics and pre-clinical safety profile, supporting their future clinical development as cell-free therapies.

The impacts of technological change policies on water uses and virtual water trade in water-constrained settings

Virtual water trade, which underlines the importance of inter-regional commodity transactions for enhancing water management, has often been recommended as an alternative to technological advancements in addressing water scarcity and increasing water savings in dry regions. Sectoral adjustment policies that focus on enhancing the productivity of specific sectors therefore should prioritize sectors with high growth impact potential but low virtual water demand. However, the diverse understanding of the concept and differing assessment techniques employed by various research communities complicate the debates surrounding the policy relevance of the virtual water trade. This study proposes a novel and integrated approach to evaluating virtual water content and flows endogenously, leveraging the advantages of Input-Output and Computable General Equilibrium (CGE) modeling methods. The quantification of the method is exemplified in the case of Uzbekistan (Central Asia), where water is a limited yet essential resource for sustainable economy and environmental systems. Specifically, this study examines the impacts of changes in economy-wide and sector-specific Total Factor Productivity (TFP) and water productivity on water uses, virtual water flows, and economic outcomes. The findings reveal that TFP improvements in livestock and fodder crop production and water productivity enhancements in gardening are recommendable options to constrain the net virtual water trade and enhance economic growth in Uzbekistan. The study also shows a high sensitivity of virtual water flows to technological changes, highlighting the importance of considering options for improving productivity when analyzing the potential of virtual water trade.

Classification of optical water groups in the subarctic pacific and adjacent seas using satellite-derived light absorption spectra of chromophoric dissolved organic matter

The characteristics of the water masses that contribute to high biological production in the subarctic Pacific and adjacent seas (SPA) could change because of recent climate change. This study reports on a method to classify water in the SPA into distinct optical water groups using the light absorption coefficient of chromophoric dissolved organic matter (CDOM), aCDOM(λ), captured using an ocean color satellite. In situ samples obtained from ship surveys between 2006 and 2021 were classified into five optical group numbers (OGN1–OGN5) based on aCDOM parameters in the ultraviolet (UV) region: aCDOM(λ) at 350 nm (aCDOM(350)) and the spectral slopes at 275–295 nm (S275–295) and at 350–400 nm (S350–400). We were also able to identify OGN with a new method using machine learning technique developed in this study that adopted satellite-derived aCDOM(λ) in the visible (VIS) region. The distribution and characteristics of OGN classified using the in situ aCDOM parameters in the UV region supplement the interpretation of the origin and mixing of the water masses classified by temperature and salinity. Relative to in situ samples, the accuracy of the OGN estimation from the ocean color satellites was 83.3%. The satellite-derived OGN were able to distinguish high chlorophyll-a areas where high phytoplankton productivity is expected. In addition, identifying the distribution of OGN from satellites supports improved understanding of the bloom process. This method has potential to help to understand the impact of phenomena from accelerating ocean warming (e.g., sea ice decline, enhancement of stratification and increase in riverine input) on water masses structure and the consequent changes in the phytoplankton productivity in the SPA.

Interannual precipitation variability dominates the growth of alpine grassland above-ground biomass at high elevations on the Tibetan Plateau

The impact of global climate change on mountainous regions with significant elevational gaps is complex and often unpredictable. In particular, alpine grassland ecosystems, are experiencing changes in their spatial patterns along elevational gradients, which increases their vulnerability to degradation. Therefore, a more detailed understanding of spatiotemporal changes in alpine grassland productivity along elevational gradients and an elevation-dependent characterization of the effects of climatic variables on grassland productivity dynamics are essential. Thus, we conducted a study in the Tibetan Plateau, where we collected 2251 above-ground biomass (AGB) observations collected from 1986 to 2020. Mean annual temperature (TMP), annual precipitation (PRE), interannual precipitation variability (CVP), and snowmelt (SNMM) were chosen as influential variables. Using the Random Forest algorithm, we generated an AGB raster dataset covering the period 1989–2020 based on earth observation data at 30 m resolution to examine the dynamics of alpine grasslands and their response to climate change with respect to elevation. The results showed that the AGB of alpine grassland on the Tibetan Plateau was 49.17 g/m2. We observed an increasing trend in grassland AGB at high elevations, with a growth rate of about 0.28 g/m2 per year within the interval of 3100–4800 m. However, above the elevation of approximately 4400–4600 m, we observed a decoupling trend between grassland AGB and TMP. Moreover, at most elevations, the proportion of maximum partial correlation coefficients for CVP, PRE, and SNMM surpassed that of TMP. We found the dominant role of precipitation variability on grassland AGB dynamics, with 22.80 % and 18.86 % for CVP+ and CVP-, respectively. The proportion of CVP+ did not vary much at different elevations, whereas the proportion of CVP- increased with elevation, varying between 12.85 and 30.25 %. In the future, precipitation on the Tibetan plateau is expected to increase, potentially reversing its original positive impact.

Addressing future food demand in The Gambia: can increased crop productivity and climate change adaptation close the supply–demand gap?

With rising demand for food and the threats posed by climate change, The Gambia faces significant challenges in ensuring sufficient and nutritious food for its population. To address these challenges, there is a need to increase domestic food production while limiting deforestation and land degradation. In this study, we modified the FABLE Calculator, a food and land-use system model, to focus on The Gambia to simulate scenarios for future food demand and increasing domestic food production. We considered the impacts of climate change on crops, the adoption of climate change adaptation techniques, as well as the potential of enhanced fertiliser use and irrigation to boost crop productivity, and assessed whether these measures would be sufficient to meet the projected increase in food demand. Our results indicate that domestic food production on existing cropland will not be sufficient to meet national food demand by 2050, leading to a significant supply–demand gap. However, investments in fertiliser availability and the development of sustainable irrigation infrastructure, coupled with climate change adaptation strategies like the adoption of climate-resilient crop varieties and optimised planting dates, could halve this gap. Addressing the remaining gap will require additional strategies, such as increasing imports, expanding cropland, or prioritising the production of domestic food crops over export crops. Given the critical role imports play in The Gambia’s food supply, it is essential to ensure a robust flow of food imports by diversifying partners and addressing regional trade barriers. Our study highlights the urgent need for sustained investment and policy support to enhance domestic food production and food imports to secure sufficient and healthy food supplies amidst growing demand and climate change challenges.

A firm-specific Malmquist productivity index model for stochastic data envelopment analysis: an application to commercial banks

In the data envelopment analysis (DEA) literature, productivity change captured by the Malmquist productivity index, especially in terms of a deterministic environment and stochastic variability in inputs and outputs, has been somewhat ignored. Therefore, this study developed a firm-specific, DEA-based Malmquist index model to examine the efficiency and productivity change of banks in a stochastic environment. First, in order to estimate bank-specific efficiency, we employed a two-stage double bootstrap DEA procedure. Specifically, in the first stage, the technical efficiency scores of banks were calculated by the classic DEA model, while in the second stage, the double bootstrap DEA model was applied to determine the effect of the contextual variables on bank efficiency. Second, we applied a two-stage procedure for measuring productivity change in which the first stage included the estimation of stochastic technical efficiency and the second stage included the regression of the estimated efficiency scores on a set of explanatory variables that influence relative performance. Finally, an empirical investigation of the Iranian banking sector, consisting of 120 bank-year observations of 15 banks from 2014 to 2021, was performed to measure their efficiency and productivity change. Based on the findings, the explanatory variables (i.e., the nonperforming loan ratio and the number of branches) indicated an inverse relationship with stochastic technical efficiency and productivity change. The implication of the findings is that, in order to improve the efficiency and productivity of banks, it is important to optimize these factors.

The spatio-temporal pattern and its influencing factors of production efficiency of health resources in China.

There is always a contradiction between the limited health resources and the unlimited demand of the population for health services, and only by improving the productivity of health resources can the health level of the population be improved as much as possible. Using prefecture-level administrative regions as spatial units, the paper analyzes the spatial pattern and changes of health productivity of health resources in China from 2000 to 2010, and uses a spatial panel Tobit model to examine the effects of factors such as technical level of health institutions, health service accessibility, public health policies and ecological environment quality on health productivity of health resources. The results show that with the Hu Huanyong line as the dividing line, the spatial heterogeneity of "high in the southeast and low in the northwest" in the health productivity of China's health resources is clear; as the regional differences narrow, the spatial correlation increases, and the spatial pattern of "overall dispersion and partial agglomeration" becomes more obvious. The fitting results of the spatial Durbin model reveal the direction and degree of influence of local and adjacent factors on the production efficiency of health resources. The positive influence of technical level of local health institutions and the accessibility of health services, the literacy level and the ability to pay for health services of residents in adjacent areas, the degree of urbanization of regional health resource allocation, climate suitability and the quality of the atmospheric environment are significant. And the negative influence of local residents' literacy and ability to pay for health services, the technical level of health institutions in adjacent areas and the degree of medicalization of health resource allocation are also significant. The influence of the degree of medicalization of local health resource allocation and the accessibility of health services in adjacent areas are significantly spatial-heterogeneous.

Changes in menstrual symptoms and work productivity after checklist-based education for premenstrual syndrome: an 8-month follow-up of a single-arm study in Japan.

Premenstrual syndrome (PMS) is prevalent among women of reproductive age, but most do not seek medical advice. We hypothesized that building PMS awareness could promote medical help-seeking for PMS and thus reduce menstrual symptoms and improve work productivity. In January 2020, women aged between 25 and 44years, having paid work, and not currently consulting with an obstetrics and gynecology doctor (n = 3090) responded to the Menstrual Distress Questionnaire (MDQ), the Premenstrual Symptoms screening tool, and the World Health Organisation Health and Work Performance Questionnaire. In addition, they received checklist-based online education for PMS. Of 3090 participants, 2487 (80.5%) participated in a follow-up survey in September 2020. We conducted multiple logistic regression analyses and text analyses to explore factors that encouraged and discouraged medical help-seeking. We also evaluated changes in menstrual symptoms and work productivity, using generalized estimating equations with interactions between the severity of PMS, help-seeking, and time. During the follow-up period, 4.9% of the participants (121/2487) sought medical help. Those having high annual income (adjusted odds ratio [aOR] = 2.07, 95% confidence interval [CI]: 1.21-3.53) and moderate-to-severe PMS (aOR = 2.27, 95% CI: 1.49-3.46) were more likely to have sought medical help. Those who did not seek medical help despite their moderate-to-severe PMS reported normalization of their symptoms (36%), time constraints (33%), and other reasons for not seeking medical help. Participants with moderate-to-severe PMS who had sought medical help showed a significant improvement of - 8.44 points (95% CI: - 14.73 to - 2.15 points) in intermenstrual MDQ scores during the follow-up period. However, there were no significant improvements in premenstrual and menstrual MDQ scores or absolute presenteeism. Medical help-seeking alleviated intermenstrual symptoms in women with moderate-to-severe PMS, but only a small proportion of them sought medical help after PMS education. Further research should be conducted to benefit the majority of women who are reluctant to seek medical help, including the provision of self-care information. UMIN Clinical Trials Registry number: UMIN000038917.

Digital Financial Services (DFS) And Productivity of Indian Banking Sector - Empirical Evidence Using Malmquist Productivity Index and Panel Data Regression

Purpose: The aim of this study is to examine the impact of Digital Financial Services (DFS) on the productivity of banking sector in India. Theoretical framework: This research considered various digital banking services offered by bank and how it affects the actual bank performance in terms of productivity, by adopting a two-stage model i.e., Malmquist Productivity Index (MPI) and panel data regression. Design/Methodology/Approach: The empirical study was based on eight-year balanced panel data from 2012 to 2020. The sample of the study consists of forty-four commercial banks from India. This study is completely based on secondary data collected from the website of the database of the Indian economy and the National Payment Corporation of India (NPCI). To achieve the research goals, a two-stage approach has been used. Initially, Malmquist Productivity Index (MPI) was employed to estimate the total factor productivity changes. In the second phase, panel regression analyses were used to study the impact of Digital Financial Services (DFS) on bank productivity. Findings: The findings show that the Digital Financial Services (DFS) variables such as mobile banking, online banking, Automatic Teller Machines (ATM) and Point of Sale (POS) transactions are significantly improved the productivity of the Indian banking industry. Research, Practical & Social implications: The study addresses the issues such as identifications of factors affecting the productivity of banks including Digital Financial Services (DFS). In the world of digital revolution, it analyses whether bank can retain, continue and enhance their performance by offering modern product and services to their customers. Originality/Value: This article has conducted extensive analyses of Digital Financial Services (DFS) and banks' productivity. The authors also provide suggestions for the policymakers for the future implementation of digital banking services.

The Euro Area 12: A Comparative Assessment of Its Member States in the Period 1998–2022

The primary objectives of this research are to compare the economic performance of the Member States (MS) in the Euro Area 12 (EA-12) of the European Union (EU) that served as net contributors and net recipients of its budget during the period 1998–2022. The comparison focuses on aspects related to economic growth and the business cycle, exploring the presence of hysteresis. To achieve these objectives, a novel approach is employed, which integrates the analysis of both growth and cycles. This approach involves using the Seemingly Unrelated Regression Equations (SURE) model to estimate a translog production frontier and assess the impact of lagging output gaps on the potential output or capacity for each of the MS considered. The data used to estimate each frontier and analyze growth decomposition consist of quarterly data filtered using the Kalman filter. The results reveal that lagging output gaps, occurring one or two quarters prior, significantly affect the potential output or capacity of the EA-12 MS, thereby supporting the existence of hysteresis. However, the impacts appear to be minimal. Furthermore, the research concludes that changes in total factor productivity (TFP), mainly due to technical change, play a more crucial role in the growth of MS that are net contributors to the EU budget. Conversely, total factor accumulation (TFA), mainly physical capital accumulation, has a more pronounced impact on the growth of MS net recipients from the EU budget. Interestingly, the heterogeneity observed among the EA-12 MS extends beyond the simple division between net contributors and net recipients of the EU budget. This heterogeneity raises questions about the European Central Bank’s (ECB) ability to stabilize the economies of these various MS solely through conventional monetary policy.

Trade policy uncertainty & resource misallocation

This paper investigates the role of trade policy uncertainty (TPU) on resource allocation across heterogeneous Chinese producers and aggregate productivity in the Chinese manufacturing sector. Using detailed Chinese data and common cost minimization conditions we measure the difference between optimal capital and labor holdings for each firm, or the efficiency gap. We document that (i) efficiency gaps decline sharply with China’s accession to the WTO and the declines are disproportionately pronounced among industries most exposed to TPU; (ii) efficiency gap declines were larger among Chinese exporters; (iii) efficiency gap declines occur simultaneously with a rise in the variance of firm-level employment and investment in new capital. Using China’s accession to the WTO as an exogenous change in the degree of uncertainty faced by Chinese producers, we quantify the implied change in productivity due to the reduction in TPU. Our estimates imply that the reduction in TPU induced by WTO accession accounted for a 17% increase in aggregate productivity through reduced resource misallocation.

Changing Humboldt Squid Abundance and Distribution at Different Stages of Oceanic Mesoscale Eddies

Humboldt squid, Dosidicus gigas, is one of the main economic cephalopod species off Peruvian waters, and their abundance and distribution are regulated by localized oceanic mesoscale dynamical processes. To this end, the present study employs normalization and frequency distribution methods, combining mesoscale eddy, oceanic environment, and D. gigas fishery data. This is the first exploration into the different stages of mesoscale eddies during their evolution off Peruvian waters and their influence on the regional marine environment, as well as the abundance and distribution of D. gigas resources. The results indicate that across the four stages of eddies, namely formation, intensification, mature, and aged, their kinetic energy and structure follow a pattern of “growth–equilibration–decay”. The abundance of D. gigas within the eddy’s covered zone undergoes an initial increase, followed by a decrease during the evolution of the four stages, peaking during the eddy’s mature stage. The abundance of D. gigas was higher in the anticyclonic eddies than that in the cyclonic eddies under different stages. The environmental factors conducive to D. gigas in eddies exhibited similar changes to D. gigas abundance throughout the eddy’s different stages. Our research emphasizes that anticyclonic eddies, during their evolution, exerted a more significant impact on the abundance and distribution of D. gigas in the Peruvian waters compared with cyclonic eddies. The eddy-induced changes in water temperature and productivity caused by the eddies may be the primary drivers of this impact.

Lower fishing effort would benefit fish stocks and fisheries profitability in the Gulf of Lion in the Mediterranean Sea

The increasing pressure on marine resources due to the high demand for fish and fishery products from an increasing population can lead to the overexploitation of fish stocks worldwide. In addition, climate change has already impacted fish populations pushing them towards states never seen before with a risk of irreversible changes. Evaluating the socioeconomic consequences of climate and anthropogenic impacts is challenging due to the large variety of interactions between social, ecological, and economic systems that make future effects difficult to predict. In this study, we develop climate-socioeconomic scenarios for the Gulf of Lion’s most important commercial fisheries using the MEFISTO bioeconomic model. Here, the biomass, catches and profit changes for the main commercial species (anchovy, sardine, hake and red mullet) and three fleets (demersal trawlers, gillnets, purse seiners) are modeled. We project the potential future storylines of fisheries under four different climate-driven and socio-political scenarios considering changes along three components: (i) climate change affecting fish stocks’ productivity through physiological processes, (ii) economic changes impacting fish price and fishing costs and (iii) technological management (fishing effort). Under alternative assumptions of productivity, market and management changes, our results indicate that fishing mortality reductions would mitigate the impacts of climate change and economic volatility over the GoL fisheries. An improvement in the overfished fisheries' management seems to be the main driver of change by 2050, over the direct impact of climate change. The market volatility (fluctuations in fish and fuel prices) will also be key for the future viability of Mediterranean fisheries.

Performance measurement of international shipping companies before and during COVID‐19: A DEA Malmquist index and window analysis approach

AbstractFor the past several decades, the container shipping industry has grown rapidly. As a result, container shipping companies (CSCs) play a vital role in the global cargo transportation market. Thus, measuring the efficiency of CSCs is a primary concern of managers and practitioners. When the COVID‐19 pandemic broke out, the industry was severely disrupted and presented with unprecedented challenges. For this reason, evaluating how CSCs performed and learning the practices they took to achieve successful business results during this period have become necessary. To serve that purpose, this article used a hybrid method that combined data envelopment analysis Malmquist index with window analysis to analyze the world's nine leading CSCs' performance over time and their efficiency relative to each other, using data collected within a 5‐year period from 2016 to 2020. Our findings revealed different characteristics and trends in efficiency among these CSCs in terms of technical efficiency change, technological change, and total productivity change. Then, managerial implications were discussed to understand the best practices of successful CSCs as well as the circumstances in which some of them underperformed during this time. In closing, the study summarized a fact‐based guideline CSCs could take as management reference should a similar crisis occur.

Financial Frictions, Capital Misallocation, and Input-Output Linkages

I study how input-output linkages amplify the aggregate impact of sectoral financial distortions in a dynamic general equilibrium model with endogenous capital wedges. The aggregate impact of a shock can be decomposed into weighted productivity changes and changes in allocative efficiency. A systematic uncertainty shock induces heterogenous responses in sectoral capital wedges, reducing allocative efficiency and aggregate total factor productivity (TFP). However, idiosyncratic sectoral uncertainty shocks may improve allocative efficiency and raise TFP. I then calibrate the model to US data. The network amplification magnitude on aggregate TFP ranges from 1.58 to 1.7. (JEL E22, E23, E25, E32, E44, G20, G30)