Long-term Interest Research Articles

Interest Rate Pass-through: Asymmetric Evidence from India

This article analyses interest rate pass-through in India using nonlinear autoregressive distributed lag (NARDL) model. The results suggest the rejection of decoupling hypothesis of interest rates. The results show evidence of cointegration between the policy rates and all other market interest rates. We find evidence of near complete, relatively rapid and asymmetric pass-through from policy rates to the immediate monetary policy target in India, that is, call money rates. However, we find evidence of incomplete, sluggish and asymmetric pass-through from policy rates to both long-term market interest rates and lending rates.

Let long-term interests talk: An disentangled learning model for recommendation based on short-term interests generation

In e-commerce recommendation systems, users’ long-term and short-term interests jointly influence product selection. However, the behavioral conformity phenomenon tends to be more prominent in short-term sequences, and the entanglement of true preference and popularity conformity data confuses the user’s real interest needs. To address this issue, we propose a sequential recommendation model called DFRec to disentangle short-term interests from popularity bias. By leveraging long-term interest trends, the model promotes the separation of short-term interests from popularity-driven deviations, thereby reducing the impact of popularity interference in short-term sequences. Firstly, we propose a Disentangled Frequency Attention Network(DFAN) to address the entanglement between real sequence features and conformity data in users’ short-term behavioral sequences. The approach clarify the non-entangled representation of the user’s short-term interest and conformity on the basis of long-term interest trends. Secondly, in order to capture the real long-term interest characteristics of users, this paper suggests using a Learnable Filter(LF) to filter the noise frequencies in long-term sequence. The method decouples the horizontal and vertical directions of the sequence and filters out the noise in both directions. Finally, consider the importance of the two interests characteristics is dynamic, we propose a joint learning framework with dual embeddings to balance and fusion these two features of users’ interests. Experimental results on three public datasets demonstrate that our model effectively captures dynamic user interests and outperforms six baseline models.

Communication in Health Diplomacy

Health is increasingly becoming a critical factor in countries' trade agreements, development strategies, security, and foreign policy. Therefore, diplomacy plays a vital role in health. Health threats are known to jeopardize a country's security and stability. For centuries, countries have implemented measures like quarantine to stop diseases at their borders, recognizing the central importance of health security for national security. The spread and similarity of diseases across borders mean that solving these health issues can only be achieved through global negotiations and agreements. Today, growing health issues require not only technical equipment but also political negotiations, solutions, and various actors. Successful health diplomacy is based on political, diplomatic experience, and practice, which must be combined with public health knowledge and evidence-based medicine. Global health requires a governance process that involves states, civil society organizations, international organizations, and multinational corporations. Health Diplomacy is an interaction method selected for securing the right to health in vulnerable communities, improving health systems, fostering collaboration between public health and political stakeholders, and resolving conflicts. Health diplomacy contributes to communication. It can help overcome barriers, act as a common catalyst for many initiatives, and respond, coordinate, improve access, and create an atmosphere for participation by aligning with regional cultures and helping to build public trust. Having secure and prosperous populations is in the long-term interest of every country, and diplomatic communication is essential to achieve these goals. For international agreements related to health and foreign policy to work, both foreign policy practitioners and global health advocates must engage more actively. In health diplomacy, communication is not only a tool for interstate negotiations but also for raising awareness among the public and relevant stakeholders about global health issues. Effectively conveying any effort to both domestic and international audiences is as important as the work itself. Successful health diplomacy relies on successful communication, and successful communication relies on sharing accurate information.

Embodied echoes: navigating the familiarity in continued intention to play VR game.

Virtual reality (VR) games, propelled by advancements in VR and artificial intelligence technologies, offer a level of realism and interactivity that traditional games cannot match. However, despite their immersive potential, VR games have not yet reached the widespread popularity of their conventional counterparts. While VR can craft the illusion of a parallel reality, users often remain cognizant of the delineation between the virtual and the real. In this paper, we employ a blend of qualitative and quantitative research methods to explore the impact of familiarity with virtual environments and interactive elements on users sense of embodiment, flow experience, and their intention to continue playing VR games. Additionally, we examine the moderating influence of perceived cost within this framework. Our analysis of 307 collected responses, facilitated by PLS-SEM, reveals that familiarity with interactivity is positively associated with both sense of embodiment and flow experience, whereas familiarity with the virtual scene primarily influences sense of embodiment. Interestingly, perceived cost exerts a positive moderating effect on the relationship between flow experience and the intention to persist with VR gaming, while it negatively moderates the impact of sense of embodiment on this intention. This study offers theoretical insights that can guide future research in the domain of VR gaming, as well as practical takeaways for companies in the VR game industry, shedding light on how to enhance user engagement and sustain long-term interest in VR gaming experiences.

A POLYCENTRIC APPROACH TO THE GREEN ENERGY TRANSITION IN BULGARIA

Ostrom’s polycentric model for the governance of social systems has been gaining popularity as an alternative approach to the low-carbon energy transition in recent years. This article considers its potential application to three issues in Bulgaria’s green energy transition: finding substitutes for coal-based electricity production in the Maritsa-East lignite complex, providing new employment opportunities for workers affected by the transition, and understanding the broader social impacts of moving away from the traditional hierarchic model in the energy sector. It is important to note that while polycentric organizing is intended to support low-carbon solutions, it could also serve the interests of coal energy actors, who may prioritize short-term gains over the long-term public interest. Overcoming inertia is a major challenge for adopting the polycentric principle as part of Bulgaria’s industrial policy, particularly in implementing decentralized low-carbon energy solutions.

De-risking strategies of defined benefit plans and economic outcome: empirical evidence from U.S. Firms

ABSTRACT This paper examines the de-risking behaviour of defined benefit (DB) pension plans sponsored by U.S. firms. By analysing a range of strategies used in U.S. markets between 1994 and 2018, such as plan shifts, freezes, terminations, buyouts, buyins, and longevity hedges, we identify the key drivers and outcomes of pension de-risking. Our findings suggest that severe underfunding of pension plans is a major catalyst for de-risking, and firms facing a higher degree of financial distress are more likely to de-risk. Although de-risking varies across sectors, we find no significant evidence of improvements in firm operational performance or credit risk following de-risking. Additionally, de-risking decisions are influenced by the interest rate environment, becoming more likely when the projected long-term interest rates decline or when returns on risky assets are expected to increase.

Dynamic web-based GIS tool for pre-feasibility evaluation of renewable energy projects

The high energy consumption and the large amount of emissions associated with roads life cycle makes it necessary for the administrations involved to invest in the implementation of renewable energy technologies on adjacent lands so that the net balance between CO2 emitted and CO2 saved is zero, thus helping to decarbonize the transport networks. To facilitate the first step in the long process leading up to the construction of wind and solar farms, a user-friendly tool is here presented that allows an early-stage evaluation of renewable energy projects. The ENROAD web-based GIS tool, through a functional, modern, intuitive, and ergonomic graphical user interface aimed at non-specialized users, optimizes the use of photovoltaic and wind technologies based on shading and wake losses, respectively, taking into account the solar radiation and wind conditions of the location and the geometry of the area selected by the user. In addition, the tool provides a thorough financial analysis, incorporating the effects of user-defined long-term interest rates, inflation rates, loan costs and efficiency losses on the Levelized Cost of Energy as well as traditional financial metrics, enabling users to conduct insightful if-then simulations. While this tool cannot have the precision of the in-depth study needed for the design of complex renewable energy facilities, it can facilitate the decision making by the administrations. Finally, a case study and a validation section have been included to demonstrate the technical and financial evaluation provided by ENROAD and ensure that the results provided are reasonable and accurate enough.

A post-Kaleckian econometric analysis of interest rates, income distribution, capacity utilization, accumulation and profit rates: the case of Italy

The aim of this paper is to analyze the effects of interest rates on rates of capacity utilization, capital accumulation and profit in Italy within a post-Kaleckian theoretical framework. The model employed in the analysis, which was developed by Hein/Schoder (2011), is based on monetary- authority-controlled real long-term interest rates that affect the functional distribution of income. Interest rates directly and indirectly affect the equilibrium rates of capacity utilization, accumulation and profit at a given debt–capital ratio. Our findings based on two econometric methods revealed that a higher real long-term interest rate has an adverse effect on these three endogenous variables in the Italian economy.

An Exploratory Study of Published Case Reports Using a Systematic Typology.

Case reports are a popular publication type, especially for medical learners. They also are an excellent educational vehicle that can spark a long-term interest in scholarship for medical learners. To maximize publication potential, authors need a framework when writing a case report. We did a manifest content analysis on case reports published in 12 peer-reviewed medical journals between 2010 and 2019. We classified the case reports as detection, extension, diffusion, or fascination. The objective of our study was to determine whether case reports can successfully be classified by their primary contribution to the medial literature as detection, extension, diffusion, or fascination case reports. Using a predefined search strategy, we identified 1,005 manuscripts identified as case reports published from 2010 to 2019 in 12 journals from a variety of medical specialties. Only 673 of the 1,005 (67.0%) met our criteria for a case report. Of these, 59.1% most closely fit the category of diffusion case reports. Fascination case reports were the least common (1.2%). The format of published case reports varied widely among journals. Case reports can be categorized according to their main contribution to the medical literature. Nearly 60% of all published case reports in this study were not published for the purpose of introducing a novel clinical entity. Instead, they were used as a vehicle to educate clinicians about previously described phenomena. Authors seeking to publish case reports should understand how the framing of their report is likely to influence their chances of being published.

Persistent and Resistant: Middle Class Advantage in Schooling

AbstractThis commentary applies Martin Thrupp’s long-term research interest in the practices of persistent middleclass advantage to a discussion of parents’ apparent freedom to choose the State school their child attends, and the effects of this parental choice on educational equality. In a highly unequal society such as Aotearoa New Zealand, parents’ capabilities to act, consume, self-maximise and choose freely in the schooling marketplace are also highly unequal. The commentary then draws on Axel Honneth’s version of recognition theory to examine underlying assumptions among advantaged groups that effectively frame parental choice as: (i) natural (i.e. all parents promote their own children’s best interests); (ii) unobjectionable (i.e. parents can choose or decide not to as they wish); and (iii) harmless to others (i.e. parents’ schooling choices affect only their own children). This family or household view of best interests is contrasted with one that focuses on the collective schooling interests of the neighbourhood.

Students Exploring Health Disparities in Undergraduate Kinesiology Course

ABSTRACT Kinesiology courses that implement health disparities (HD) topics into the undergraduate curriculum engage students in critical and conscious thinking about health outcomes and strategies as they prepare for careers as future health and medical professionals. Health disparities are disproportionate differences in health based on race, gender, socioeconomic status, sexuality, and environmental factors that are preventable for providing opportunities to achieve optimal health. Implementing HD topics into undergraduate courses increases knowledge and awareness and inspires long-term interest in health equity work. This ethnographic case study assessed how 142 undergraduate Kinesiology majors navigated HD topics with critical consciousness as a guiding framework. Three themes emerged from student exploration: eye-opening experiences, lived experiences, and learning experiences. Upper-level students reported an increase in HD (75%–95%) awareness of the meaning of the term and the communities impacted. The lack of prior engagement (29%) with HD ignited tensions around learning experiences. Students who engage in HD topics earlier in their academic programs increase their knowledge and strategies for integrating HD into future learning and practices.

STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST

This study aims to investigate the stationarity of long-term real interest rates for the top 10 countries with the highest long-term real interest rates among OECD countries in order to determine the effectiveness of monetary policies to be implemented. The study is one of the first to consider both structural breaks and nonlinearity to determine the effectiveness of policies to be implemented regarding interest rates. As a result of the Ranjbar et al. (2018) unit root test allowing for both structural changes and nonlinearity, the long-term real interest rates are stationary at the level for Turkey and Colombia; whereas not stationary at the level for the USA, Chile, Hungary, Iceland, Korea, Norway, Poland, and Canada. According to the results, it was determined that the policies to be implemented regarding interest rates in Türkiye and Colombia would be ineffective because interest rates tend to be mean-reverting.

Relationship between Public Expenditure and Inflation

Effective management of inflation remains one of the arduous tasks for managers of global economies. Inflation remains a macroeconomic indicator whose management outcomes have the potential to decide the electoral fortunes of elected governments and determine the purchasing power of household incomes. The purpose of this research was to assess how a steady increase in public expenditure could impact inflationary levels. The quantitative approach to scientific inquiry was adapted and used in the research. Specifically, the cross-sectional design formed the basis of the research. Data required for the research were obtained mainly from secondary sources. These included textbooks, peer-reviewed articles published in journals and grey literature. Other sources were Google Search Engine, including Netcials, MacroTrends, and databases of the World Bank and Bank of Ghana, among other significant sources. Respective data on Ghana’s annual GDP values from 1960 through 2020, annual inflation data from 1965 through 2020, changes in annual inflation rates from 1965 through 2020, and annual public expenditure values from 1983 through 2020 were collected and used in the research. Descriptive statistics and regression models were used to describe the research variables and to evaluate their behaviour over the stated time frame on inflation. The study revealed lax monetary policy as the root cause of consistently high inflationary rates over considerable periods and remained a strong contributor to the weak purchasing power of national fiat currencies. Further, relative price distortions away from their economic equilibrium are not healthy for the economy, while disinflationary policies adapted for implementation should be contingent on the causes of inflation. The single largest cost of inflation to consumers is the erosion of income, whereas higher tax rates are not the panacea for the challenges of mounting public expenditure and public debts. Respective inflation rates recorded in Ghana during 2012 (7.13%) and 1995 (59.46%) remained the lowest and highest from 1993 through 2020. Fiscal periods 2017 through 2020, 2009 through 2012, and 2005 through 2008 recorded the respective best (9.33%), second-best (11.46%) and third-best (13.32%) annual average inflation rates. With the exception of 2013 through 2016, the performance of the Ghanaian economy in relation to annual average inflationary control witnessed improvements during the second political and administrative terms compared to the first terms. However, the best annual average inflation rate over an eight-year period during the Fourth Republic was recorded from 2009 through 2016 (13.45%). Findings from the research revealed a positive and significant relationship between public expenditure and inflation (coefficient value = 1.2004653; p = 0.004, p < 0.05). Public expenditure accounted for 21.30% of the variation in inflation rate from 1983 through 2020. Results from the statistical output validated the significant influence of public expenditure on inflationary hikes, the need for monetary and fiscal policies related to inflation control to be strategically reviewed and strengthened to improve implementation outcomes, and the potential of rising public expenditure to undermine the rigidity and robustness of economic fundamentals through an unexpected surge in inflationary levels. The findings underscored the need for managers of various global economies to be keen on “economic” public expenditure to the neglect of profligate public expenditure, so the socio-economic derivatives from investments in public infrastructure would strongly add to, rather than subtract from, national development and growth efforts. The fundamental objective of MPC should be pivoted around three cardinal functions: the creation of maximum employment, moderation of long-term interest rates and ensuring price stability. Excessive public expenditure requires careful consideration by economies that whet their national development appetite with increased public infrastructure projects.

Under the influence: exogenous testosterone influences men's cross-sex perceptions of sexual interest.

The sexual misperception bias is a cognitive bias in which men tend to overestimate sexual interest from women, potentially shaped by evolutionary mating strategies. Testosterone, often linked to mating behaviors, might play a role in sustaining sexual overperceptions. To explore this possibility, we conducted a placebo-controlled study with 190 heterosexual men, administering either 11 mg of testosterone or a placebo. Participants interacted with an attractive female confederate, while naïve raters assessed the confederate's affiliative behaviors. Our findings suggest that exogenous testosterone did not broadly impact sexual overperception. However, we found that affiliative behavior from the confederate was positively correlated with perceived sexual interest among testosterone-treated, but not placebo-treated men. In addition, we found that this effect among testosterone-treated men was contingent on their self-perceived attractiveness. Specifically, the confederate's affiliative behaviors were positively correlated with perceived sexual interest, but only for testosterone-treated men with average or above average self-perceived attractiveness. Furthermore, our data revealed that men's tendency to project their own short-term and long-term mating interests increases as a function of self-perceived attractiveness, and this coupling is enhanced by testosterone for long-term interest. Taken together, these results suggest that testosterone may potentiate existing biases, particularly when sexual motivation is high, and bias perceptions of friendly behavior when engaging in cross-sex mindreading. This study adds to the understanding of the neuroendocrine bases of social cognition, suggesting that testosterone can affect men's perceptions of potential mates.

The Contribution of Foreign Holdings of U.S. Treasury Securities to the U.S. Long-Term Interest Rate: An Empirical Investigation of the Impact of the Zero Lower Bound

The Contribution of Foreign Holdings of U.S. Treasury Securities to the U.S. Long-Term Interest Rate: An Empirical Investigation of the Impact of the Zero Lower Bound

Análisis económico del derecho de las medidas no-convencionales del Banco Central Europeo

This study delves into the significance and effectiveness of unconventional monetary policy measures adopted by central banks within the current economic policy framework. These measures are employed when conventional tools prove inefficient in stimulating or stabilizing the economy, influencing interest rates, inflation, and economic activity. The hypothesis will be tested through quantitative analysis, encompassing macroeconomic data and time series analysis, and examining various economic schools and theories. Additionally, potential long-term problems associated with these measures will be explored. The expected conclusions of this analysis aim to demonstrate that unconventional measures implemented by central banks have the potential to significantly impact the economy, particularly during economic crises. It is anticipated that “Quantitative Easing” will provide increased liquidity to the financial system and lower long-term interest rates. Furthermore, the study will assess potential side effects, such as income inequality, financial risks, price distortions, or the formation of asset bubbles. This research underscores the critical importance of unconventional monetary policies in contemporary economic discourse while scrutinizing their long-term implications.

A Financial Analysis and Valuation of Monster Beverage Corp.

In the global beverage market, companies such as The Coca-Cola Co.(KO), PepsiCo, Inc.(PEP), Monster Beverage Corp.(MNST), and Keurig Dr Pepper, Inc.(KDP) are highly competitive with their own unique characteristics. The capital market is a platform for investors to engage in investment activities. Investors investing their funds anticipate returns either through dividends or capital gains. The profitability and liquidity ratio of dividend policy have significant effects. Financial performance has had a pivotal role in fulfilling the objective of maximizing the company's overall worth. The escalating worth of the company serves as a testament to the escalating welfare of shareholders, reflected in the profits garnered by investors, apart from dividends, through capital gains accruing from the ownership of shares. This article will analyze the characteristics, financial performance and strategic risks of these companies to provide investors with comprehensive information. MNST is the best performer in terms of short-term debt repayment capacity and liquidity, with strong solvency, low debt ratios and no long-term debt and interest expense. MNST has performed well in terms of profitability, with high profitability ratios and operating margins, showing strong earning potential. In addition, MNST has also performed well in terms of profitability of shareholders' equity. MNST has the highest market ratio, and the market has a certain optimistic attitude towards it. Overall, MNST is an attractive choice due to its high profitability, strong solvency and good market prospects.

Analysis of The Interaction of Monetary Policy and Islamic Investment Towards Indonesia's Economic Growth

Economic growth is the main measure of development success, and the results of economic growth will be enjoyed by the community either by itself or with government intervention. Economic growth is an important indicator in the real sector. The interaction between monetary policy and sharia investment in influencing Indonesia's economic growth is the main focus of this study. This study aims to analyze the effect of the interaction of monetary policy (interest rates, exchange rates and money supply) and the interaction of sharia investment (sukuk, sharia stocks, sharia mutual funds) on Indonesia's economic growth for the period 2000-2022. This type of research is quantitative research using time series data from secondary data with the Vector Error Correction Model (VECM) analysis method with the help of Eviews software. The results of this study indicate that the variables of short-term interest rates, SUKUK, sharia stocks, sharia mutual funds have a positive and significant effect on economic growth, while the rupiah exchange rate (KURS), the amount of money in circulation on economic growth show a negative and insignificant effect. The variables of long-term interest rates, rupiah exchange rates or KURS, the amount of money in circulation SUKUK, sharia stocks, mutual funds have a positive and significant effect on economic growth

Session-based Recommendation Based on Long-term and Short-term Interest Incorporating Social Information

In session-based recommendation systems, user interests are dynamic and purchasing actions are often influenced by both long-term and short-term interest preferences. However, user interests are not solely influenced by the users themselves but also by other external factors, such as social connections. To address these issues, a method utilizing a Graph Attention Network is proposed, which effectively integrates both the long-term and short-term interests of users and their friends. Experiments on the Douban and Delicious datasets demonstrate that the proposed algorithm outperforms baseline models.

Critical Evaluation of the Contract Selection Process Used in the Construction Industry of Kuwait

The paper investigates and assesses the contract selection procedure used in Kuwait’s construction sector. The ideas and insights of engineers involved in significant Kuwaiti construction projects will be extensively considered. In the Kuwaiti building sector, various ways of choosing the contract form will be discussed. In order to gather pertinent data about the country’s primary construction projects, questionnaires will be used. This methodology ensures a first-hand account of the challenges and preferences within the industry. This data will be analyzed to determine the best ways to enhance the current system utilized for Kuwaiti building contracts for the choice of contract forms and payment terms that could benefit from the inclusion of measures to guarantee those types of task delivery systems and payment terms in the country’s future construction projects. This paper explores the typical contract types and payment mechanisms used in Kuwait, drawing on a thorough analysis of current literature, governmental regulations, and business practices. The Standard Forms of Contract, which offer fixed-priced payments, have become the most popular option. However, when used for extensive and technically challenging projects, this contract form’s simplicity presents difficulties. Additionally, the existing system encourages contract awards based on the lowest tender, which raises questions regarding appropriateness and proportionality. The study suggests an arsenal of criteria for improving the deal selection process, with an emphasis on diverse terms of payment inside the task delivery system, in order to allay these worries. It highlights the need for a more comprehensive approach for deal selection that takes project complexity, financial constraints, and long-term project interest into account. The proposed criteria additionally include adaptability to project complexity, ensuring flexibility for challenges in large projects. Financial considerations, aligning with budgetary requirements, are crucial. The emphasis is on long-term project success, and finding a balance between simplicity and adaptability in contracts is key. These comprehensive criteria aim to improve decision-making in selecting standard contract forms for construction projects, addressing challenges in large, technically demanding endeavors in Kuwait. This research contributes to the field by introducing a novel set of criteria for contract selection, tailored to the Kuwaiti construction context. The study’s originality lies in its approach to addressing the challenges posed by current practices and its focus on refining the system for future projects. Additionally, the study employs a rigorous questionnaire survey to extract firsthand insights from industry professionals, ensuring a robust and contextually relevant exploration of the contract selection landscape in Kuwait’s construction sector.