Market Participants Research Articles

Labor Market Participation of Persons With Spinal Cord Injury Living in Switzerland Between 2012 and 2022: A Comparison to the General Population.

The aim of the study is to examine labor market participation of individuals with spinal cord injury living in Switzerland over the past decade and in relation to the general population. This is a descriptive study, using longitudinal panel data from the 2012, 2017, and 2022 community surveys of the Swiss Spinal Cord Injury Cohort Study and general population data from the Swiss Labor Force Survey. Employment rates among spinal cord injury responders were 56% in 2012, 61% in 2017, and 64.6% in 2022. Employment gaps between the spinal cord injury and the Swiss general population samples decreased from 22.5% (2012) to 15.4% (2022). This decrease was particularly evident for females, middle-aged individuals, and people with tetraplegia but contrasted with increased employment gaps in Southwestern Switzerland. By identifying increased employment rates among spinal cord injury responders along with decreased employment gaps in relation to the general population, our study indicates improved opportunities for persons with impairments in the Swiss labor market over the past decade. While there is still room to improve the labor market participation prospects among the Swiss spinal cord injury population, particular efforts at the regional level are required to ensure equal labor market participation opportunities for all individuals with spinal cord injury living in Switzerland.

Internet use and household financial market participation: evidence from China

ABSTRACT This paper examines the effect of internet use on household financial market participation and its underlying mechanism. Using data from the 2018 China Family Panel Studies (CFPS), we find that households with internet use are 4.7% more likely to participate in financial market investments than those without. The finding remains robust after accounting for endogeneity concerns using the instrumental variables approach and a fresh double machine learning approach. We highlight the phenomenon of ‘digital divide’ that the positive effects of internet use on making financial investments are more substantial among families living in economically developed regions, and families with higher income and education levels than their counterparts. We identify three novel mechanisms through which internet use affects household investment decision-making, namely the internet information mechanism, the internet social mechanism, and the internet enabling mechanism. These findings suggest that expanding digital infrastructure building and increasing the number of internet users are important ways to enhance households’ participation in financial markets.

The role of mental health-related healthcare use in employment and benefits use after unemployment

Abstract Background Mental health problems are common among unemployed job-seekers and they further hinder successful re-employment. Previous studies investigating the role of mental health problems on labour market participation after unemployment have largely focused on a single outcome. However, many have subsequent unemployment or receive different types of benefits. To understand these complex pathways a more comprehensive approach is needed. In this study, we examine how mental health-related healthcare use among the unemployed affects their employment and benefit use trajectories. Methods We use a 90% population sample of individuals who were residing in Finland at the end of 2010, who were 25-59 years old and unemployed between 2014-2016 (n = 596,323). We use multistate trajectory models to analyse their employment and benefits use development three years after the onset of unemployment. We will further use multinominal regression analysis to investigate how mental health-based healthcare use is associated with these trajectories and how this association varies between different sociodemographic groups. Results Around half of the unemployed job-seekers received some type of benefit after the onset of unemployment. Almost 25 % received sickness allowance (especially women), a little less social assistance (especially young and low educated), or unemployment benefits (especially men), and around 10 % received disability pension (especially among those with healthcare visits due to mental disorders). Next, we will conduct a trajectory analysis to get a more comprehensive picture of the employment and benefits trajectories. Conclusions Unemployment is followed by complex employment and benefits trajectories which further differ by sociodemographic groups and mental health-related healthcare use. Knowledge on the factors influencing these trajectories will help direct employment-promoting interventions towards different groups of unemployed. Key messages • Many unemployed job-seekers receive some type of social or sickness benefit after unemployment. • The employment and benefits trajectories after unemployment differ between those who had mental health-related healthcare use and those who did not, and further by sociodemographic factors.

The Black Box of Single-Family Zoning Reform

America faces a staggering housing affordability crisis. The consequences of the crisis include reduced economic productivity, suppressed labor mobility, greater social inequity, and increased homelessness. A scholarly consensus blames excessive land-use regulation for these problems and advocates now call for deregulation. Several jurisdictions have recently elected to allow middle housing—small, multi-family developments—in areas previously zoned for single-family detached housing. The results of these reforms, however, have been disappointing. This Article examines why they have fallen short and how to do better. This Article identifies an analytical disconnect between the deregulatory consensus and actual single-family zoning reforms adopted to date. Given this disconnect and the limited success of single-family zoning reforms thus far, it is unclear why such reforms continue to be adopted. Moreover, these reforms cannot achieve their promised ends. Interviews of middle housing builders in reform jurisdictions reveal legal and structural barriers that prevent market participants from responding to the housing crisis with scale and urgency. This Article proposes several regulatory alternatives that offer a greater probability of success in achieving the consensus’s goals: (1) modestly expanding multi-family zones to allow redevelopment and densification of underutilized non-residential properties; (2) providing affordable-housing density bonuses; (3) streamlining land-use procedures and eliminating administrative delay to reduce uncertainty in permitting processes; and (4) reevaluating financing mechanisms for new housing development. Taken together, these policies are necessary complements to single-family zoning reforms for addressing undersupply of market- and below-market-rate housing.

Assessment of the impact of Long COVID on labour market participation and potential economic effects in the EU

Abstract This paper estimates the economic cost of long COVID through its direct impacts on the labour market. The direct implications of long COVID for affected individuals concern their capacity to work, and their productivity at work. Some individuals might continue to work, but at a lower productivity level, some might reduce their hours worked, including as a result of temporary absences, and some might stop working at all. To the best of our knowledge, so far, no study has explicitly addressed the impact of long COVID on the EU labour market. The present paper provides a tentative assessment using available estimates from surveys, clinical follow-up studies and model simulations of the prevalence of long COVID. This tentative approach yields an estimated negative impact on labour supply of 0.2-0.3% in 2021 and 0.3-0.5% in 2022. In person-equivalents, this means long COVID would have reduced labour supply by 364,000-663,000 in 2021 and by 621,000-1,112,000 in 2022, combining the effect of lower productivity, higher sick leaves, lower hours, and increased unemployment or inactivity. The lower bound of this range is close to a recent estimate put forward for the US (Abraham & Rendell, 2023). Available labour market data suggest a mixed picture when it comes to the impact of long COVID. Overall, the possible role of long COVID in the rising trend in sick leave, disability and activity-limiting health factors, warrants careful monitoring going forward, due to its potential impact on labour supply and labour productivity, and on public finances through increased social benefits, pensions, health care and long-term care expenditure.

Labor market participation in people with intellectual disability – a follow-up study in Sweden

Abstract Background Work is vital to people’s health and quality of life. The Convention on the Rights of Persons with Disabilities affirms the right to work on an equal basis with others including an opportunity to earn a living by work, but evidence shows that people with intellectual disability (ID) are at greater risk of unemployment and social exclusion. Due to the lack of comprehensive data for longitudinal follow-ups, information on long-term labor market participation (LLMP) in people with ID is scarce. This study aimed to investigate factors of importance for LLMP in individuals with ID in Sweden. Methods The study was based on data from the upper secondary school for pupils with ID between 2001 and 2020 (N = 26,905) and from the longitudinal integrated database for health insurance and labor market studies. A sample of gainfully employed in 2011 (n = 2,719), was followed with respect to LLMP until 2020. Odds ratios (ORs) with 95% confidence intervals (CI) for associations between educational, sociodemographic, and work factors and LLMP (i.e. gainful employment throughout the follow-up), were estimated stratified on sex. Results LLMP was twice as likely in men compared with women, OR 2.06 (1.78-2.58) as was work in the private sector. Factors of significance for LLMP in men and women alike were: completed national education program, OR 3.40 (3.06-3.86) and OR 2.91 (2.40-3.54), parents’ education; compulsory school in mothers’, OR 1.22 (1.06-1.41) and 1.24 (1.00-1.55) and in fathers’ OR 1.35 (1.17-1.56) and 1.49 (1.20-1.85), while municipality of residence was significant only in men, OR 1.30 (1.10-1.56). Conclusions Public health prevention for disadvantaged groups requires accurate and up-to-date knowledge. Using unique register-based data, this is the first study on LLMP in people with ID in Sweden. Knowledge on what social determinants may strengthen LLMP is important since limited LLMP increases the risk of missing out on health benefits that employment may offer. Key messages • There was a significant gender difference in long-term labor market participation in people with intellectual disability in Sweden. • There is a need for increased knowledge on what social determinants may strengthen long-term labor market participation in people with intellectual disability.

Enhancing Labor Market Participation of Older Adults: Health and Workplace Adaptations

Abstract Background The labor market dynamics for older adults have significantly shifted due to extended life expectancy and evolving socioeconomic conditions. This study examines the prerequisites for older adults to remain longer in the labor market across various European countries, emphasizing the interplay between health status, workplace adaptations, and economic factors. Methods This cross-sectional study analyzed data from several European surveys focusing on older workers. The methodology included logistic regression to evaluate the impact of health status and workplace adaptations on continued employment among older adults. Data were further stratified by country to assess regional differences in employment patterns for this demographic. Results Preliminary results indicate that older adults with access to workplace adaptations-such as flexible working hours and ergonomic interventions-show a significantly higher likelihood of remaining in the labor market (OR = 2.3, 95% CI 1.8-2.9). Additionally, those reporting good to excellent health were 1.5 times more likely to continue working compared to their peers with poor health outcomes. The results also highlight substantial regional variability, with Scandinavian countries showing higher employment rates among older adults compared to Southern European regions. Conclusions The data strongly support the need for policy interventions that promote health maintenance among older workers and encourage employers to implement adaptive measures. Such strategies are likely to enhance the labor market participation of older adults, contributing to economic stability and reducing the potential strain on social security systems. Innovative public health policies aimed at supporting aging workers are crucial for sustaining workforce productivity in the face of demographic shifts. NordForsk supports the study Sustainable working-life for aging populations in the Nordic-Baltic region, Project No.: 139986. Key messages • Workplace adaptations and good health significantly extend working life among older adults. • Regional differences in employment for older workers highlight the need for tailored public health policies.

Interactions among gender norms: Evidence from US couples

AbstractA considerable body of work has shown that motherhood is accompanied by a reduction in labor market participation and hours of market work, while more recent findings indicate that women who earn more than their husbands tend to subsequently take actions that reduce their market income. Both patterns of behavior have been interpreted as women trying to conform to child‐rearing norms and to the prescription that the husband should be the main breadwinner. In this paper, we use panel data for US couples to re‐examine women's behavior when they become mothers and when they are the main breadwinner. We start by asking whether the arrival of a child affects women who are the main breadwinner and those who are not in the same way, and then turn to how mothers and childless women react when they are the main breadwinner. Our results are consistent with the breadwinner norm only affecting mothers, suggesting that the salience of gender norms may depend on the household's context, notably on whether or not children are present. Concerning the arrival of a child, we find that although the labor supply of women who earn more than their husbands initially responds to motherhood less than that of secondary earners, the two groups converge after 10 years. Moreover, women in the former category exhibit a disproportionately large increase in the share of housework they perform after becoming mothers. The latter results suggest that the presence of children pushes women to seek to compensate breaking a norm by adhering to another one.

Exploring economic assimilation of immigrants and their descendants in France: recent insights

ABSTRACT This paper examines the labour market performances of immigrants and their descendants in France by applying a series of empirical Tobit II models on a recent TeO2 database. Our work questions the labour market participation and wage disparities of these groups compared to native-born individuals by controlling different individual attributes, such as gender and educational level, and job characteristics, such as the firm size or the type of job. It also introduces information on ethnic origins and location. Our study provides crucial insights into the labour market performances of immigrants and their descendants in France. It reveals that disparities manifest primarily in labour market participation rather than wages. It also underscores that high-skilled workers’ wages do not converge as immigrants consistently yield lower returns on education than natives. Our findings underscore the heterogeneity within the immigrant group based on origins criteria. The performances of immigrants with African and Northern-African origins are lower than those of other groups of immigrants.

Assessing the Prospects and Risks of Delivering Sustainable Urban Development Through 3D Concrete Printing Implementation

The article presents the results of a comprehensive study of the use of 3D Concrete printing (3DCP) technology to create urban infrastructure facilities according to sustainable development principles. The work includes a study of scientific articles on the subject area under consideration, a survey of additive construction market participants, as well as an analysis and generalization of promising areas for technology development and methods for improving the quality of objects erected using 3DCP. As part of the conducted literature review, publications included in the Scopus database for the period 2015–2024 were selected for analysis using the keywords ‘Sustainable development + 3DCP’ and ‘Sustainable construction + 3DCP’. The following conclusions were made: (i) the most popular publications are review articles about the development of materials and technologies for 3DCP and (ii) the most sought-after are the studies in the field of partial application of 3DCP technology, existing equipment and materials for 3DCP, and assessment of the effectiveness and cost-effectiveness of 3DCP use. For this purpose, a questionnaire was developed consisting of three blocks: equipment and technologies; structures and materials for 3DCP; the ecology and economics of 3DCP applicability. As a result, four main risks have been identified, which represent promising areas for 3DCP development.

From Algorithms to Market Dynamics: A Literature Review on High-Frequency Trading

Abstract: High-frequency trading (HFT) uses advanced technologies and sophisticated algorithms to make transactions at unprecedented speeds, which could significantly impact modern financial markets. This literature review examines the technological foundations, primary trading strategies, market impacts, regulatory environment, risk management practices, and future research directions in HFT. The findings reveal that HFT could increase market liquidity and price discovery but also increase volatility during periods of high market stress. Regulatory frameworks such as the SECs Market Access Rule and MiFID II aim to monitor and control HFT activities, at the same time effective risk management practices are crucial for maintaining market stability. Future research should focus on emerging technologies such as AI, ML, quantum computing, and blockchain, along with a better understanding of market structure and global regulatory coordination. This review provides valuable insights for market participants, regulators and researchers, contributing to a balanced perspective on HFTs role in contemporary financial markets.

Effect of Offshoring on Exports of Firms in South Korea

This study empirically investigates the export-magnification effect of offshoring using a firm-level panel dataset from the manufacturing sector in South Korea. It estimates the impact of offshoring activities on export performance by examining intra-firm and arm’s length offshoring. The empirical evidence demonstrates the export-magnification effect of offshoring on both export market participation and export intensity. Particularly, the export-magnification effect of offshoring still exists among export entrants switching from non-exporters to exporters. Moreover, a greater export-magnification effect from intra-firm offshoring than from arm’s length offshoring is found using instrumental variable (IV) Tobit and probit models. This indicates that the vertical integration of production processes through intra-firm offshoring has a greater effect on export performance than international outsourcing to third parties.

Integrated market scheduling with flexibility options

This work presents a generic optimization framework using advanced mixed-integer programming techniques to integrate day-ahead and balancing markets with distributed energy resources such as storage, electric vehicles, demand response, and Transmission and Distribution System Operators' coordination schemes. The day-ahead model determines optimal initial energy scheduling, while the balancing model optimizes energy and reserve products for three market designs with varying Transmission and Distribution System Operators’ coordination. The framework is applied to the interconnected Greek-Bulgarian-Romanian power system, considering 2030 installed capacities.The model outputs illustrate market coupling scenarios among Romania, Bulgaria, and Greece, highlighting clear price signals and distributed energy resources flexibility. Results reveal the significance of a diverse energy mix for energy security and show that Transmission and Distribution System Operators’ coordination significantly influences ancillary service prices, with reductions of up to 80 % in certain scenarios. Net demand values determine electricity flow direction. Flexibility providers like storage can cover up to 100 % of the upward congestion management requirements and 11 % of upward balancing energy, helping smooth energy allocation from intermittent renewables. The impact of electric vehicle penetration on generation scheduling is minimal. The proposed model offers valuable insights for system operators, market participants, and policymakers, enabling them to provide accurate price signals and optimize resource allocation.The integrated day-ahead and balancing market models support efficient renewable energy integration, emissions reduction, enhanced grid stability, and investment in low-carbon technologies. This aligns with the United Nations Framework Convention on Climate Change goals, contributing to the development of sustainable and resilient energy systems.

From Workfare to Economic and Sociopolitical Stability? Evidence from a Randomized Trial in Eastern Congo

Abstract Did a workfare program in Eastern Congo have a lasting impact on economic and sociopolitical outcomes? Men and women in Eastern Congo were randomly assigned to 2,674 four-month job offers, or to the job offer plus a savings incentive, hard-skills training, or both. Eighteen months after the program, labor market and savings outcomes have improved, but there is no change across 12 other economic and sociopolitical outcome families. Regarding labor market outcomes, the most intensive treatment—the job offer plus the savings incentive and hard-skills training—outperforms treatments with only one add-on. This indicates that the savings incentive and hard-skills training, when combined, can create a synergistic impact greater than the sum of their individual effects. The results are mainly driven by female beneficiaries, who start at much lower levels of labor market participation and earnings than men.

Tokenized carbon credits in voluntary carbon markets: the case of KlimaDAO

The voluntary carbon market offers a flexible and cost-effective way to reduce greenhouse gas emissions, which has led to increased interest in these markets. Within the decentralized finance ecosystem, Decentralized Autonomous Organizations leverage the tokenization of carbon credits to enhance efficiency and transparency. KlimaDAO, established in August 2021, aims to accelerate the adoption of carbon markets by integrating blockchain technology to facilitate transparent, secure, and accessible carbon trading. This study analyzes the evolution of KlimaDAO by evaluating its market capitalization, token prices, staking participation, carbon credit retirements, market participation, and concentration. The analysis reveals that while KlimaDAO initially achieved significant engagement and activity, it now faces challenges associated with market maturity and participant retention. Finally, the study highlights the importance of standardization and regulatory frameworks to enhance interoperability, transparency, and legitimacy within the tokenized carbon market.

Can schools and libraries curb the functional illiteracy crisis? Insights from the Netherlands

ABSTRACT Increasing parts of the world population have rudimentary reading and writing skills but limited command of grammar, syntax and spelling. This functional illiteracy has detrimental effects on labor market participation, population health and political stability. Geographies of illiteracy also include affluent societies like the Netherlands, a country that is not only illustrative of a widespread phenomenon, but arguably also a bellwether of things to come elsewhere in the world if these developments are not reversed. This exploratory paper focuses on two institutional spaces where the literacy crisis is conventionally addressed: schools and public libraries. We argue that while each has a contribution to make, neither institution is currently able to curtail the trend, partially because preferred literacy promotion methods are incongruent with rapidly evolving changes in the literacy landscape, especially regarding youth communication. We consider three possible responses to our current literacy crisis and conclude that efforts to curb functional illiteracy require a pragmatic and multi-pronged approach, and perhaps even some counterintuitive strategies.

Geographic differences in the effect of immigration on the native wage distribution: Evidence from Italian provinces

AbstractThis paper examines geographic differences in the effect of immigration on the wage distribution of native Italian workers. The results suggest an insignificant effect across the wage distribution in northern provinces, but large and significant effects in the lower and middle parts of the distribution in the south. This is entirely because immigration pushed up wages at the lower end of the female wage distribution in southern local areas. This result is consistent with increases in labor market participation of native women that went hand in hand with improvements of women's skills at the bottom of the wage distribution.

Bridging the Digital Divide: Empowering Rural Women Farmers Through Mobile Technology in Kerala

This research paper investigates the impact of mobile technology on empowering rural women farmers and promoting inclusive agricultural development. The primary emphasis is on how mobile technology enables rural women producers to become more self-reliant in agriculture, promotes market participation, strengthens social connections, facilitates socioeconomic integration, enhances rural quality of life, and fosters sustainable agricultural development. In addition, this study also analyses the influence of demographic factors on the use of mobile technology among rural women farmers. This study was carried out in Kerala, a renowned agricultural state in India. In Kerala, the Palakkad district is known to be the granary of Kerala due to the availability of fertile valleys, rivers, forests, and paddy fields. Data were collected from 192 rural women farmers from Palakkad via semi-structured interviews, questionnaire surveys, and focus group discussions (FGD). The data were analyzed using the paired t-test and Garratt ranking method. The results demonstrate that mobile technology markedly enhances access to agricultural information, market engagement, and social connectivity, resulting in greater empowerment for rural women farmers. Nonetheless, obstacles such as insufficient digital literacy and inadequate mobile infrastructure access persist as considerable impediments. The findings demonstrate the revolutionary potential of mobile phone use in bridging information gaps, empowering women farmers in rural areas, and advancing equitable agricultural development, as well as the barriers faced by rural women in using mobile technology.

Comparative analysis of futures contract cross-hedging effectiveness for soybean: models and insights

ABSTRACT The purpose of this research is to investigate the use of cross-hedging in the South African soybean market, by using the JSE BEAN contract as a cross-hedge instrument for the JSE SOYA contract. The research study involves a detailed assessment of the data, which includes the use of stationarity tests such as the Phillips-Perron and Augmented Dickey-Fuller, as well as the Johansen co-integration approach to analyse long-term relationships between the variables. To evaluate the efficiency of cross-hedging strategies, three distinct hedging models are used: the ordinary least squares (OLS) model, error correction model (ECM) and EC-GARCH. The results demonstrate that these models produce significant hedge ratios. Through back-testing and the application of hedging strategies, it is determined that the JSE BEAN contract holds the potential to serve as a cross-hedge for the JSE SOYA contract in the South African soybean market. This study provides useful information for market participants and model selection in the context of cross-hedging.

Social Interaction and Stock Market Participation: A Study of Kathmandu Valley Investors

This research aims to explore how social interaction influences stock market participation in the Kathmandu Valley. It utilizes a descriptive and causal study design, applying a positivist approach to investigate the phenomenon. The focus is on understanding the effects of social interactions on individuals' involvement in the stock market within this specific geographical context. A questionnaire survey was conducted to collect data about factors influencing participation in the stock market. A total of 399 samples were gathered from this population using convenience sampling. The data was then analyzed using several statistical techniques. Reliability analysis was employed to assess the internal consistency of the measurement instruments. The results of the analyses found that internet usage, social norms/community influence, and the influence of friends/partners had a significant impact on whether someone participates in the stock market. However, there was no evidence that parental involvement in the stock market influences their children's participation. In summary, the study examined how different factors relate to individuals' participation in the stock market through a survey and statistical analyses of the collected data. Internet access, social environment, and peer influences were found to affect participation, but not parental involvement.