Monetary Factors Research Articles

Impacts of Monetary Factors on Employment Growth in Tanzania: 1990- 2022

Impacts of Monetary Factors on Employment Growth in Tanzania: 1990- 2022

Investigation of Traffic System with Traffic Restriction Scheme in the Presence of Automated and Human-Driven Vehicles

In the context of transportation development, the simultaneous emergence of automated vehicles (AVs) and human-driven vehicles (HDVs) can lead to varied traffic system performance. For the purpose of improving traffic systems, this paper proposes a traffic restriction scheme only for HDVs. We develop a variational inequality (VI) model to describe travel mode and route choices under this restriction scheme and design an algorithm to solve the model. The proposed model and algorithm are applied to a Sioux Falls network example to evaluate the effects of the traffic restriction scheme. Our findings indicate that the scheme improves overall social welfare, with a higher proportion of restricted travelers leading to greater social welfare as well as increased travel demand due to changes in capacity. However, some lower exogenous monetary factors lead to negative social welfare, as the presence of AVs may exacerbate road congestion. Additionally, advancements in technology are needed to adjust the weightings of travel time and congestion level estimates to further enhance social welfare. These results offer valuable insights for traffic demand management in traffic systems with a mix of AVs and HDVs.

The VECM implementation for measuring the impact of monetary variables on Indonesia Property Prices Index

The basic human need for housing makes property investment safer than other sectors because demand tends to be stable despite changing economic conditions. The decision to invest is influenced by various aspects, including economic variables, including GDP, property credit growth, non-performing loans (NPLs), interest rates, exchange rates, and money supply, which are then examined for their influence on the Residential Property Price Index (RPPI) in Indonesia through this research using a Vector Error Correction Model (VECM) with quarterly data from 2003 to 2022. The findings show that GDP, interest rates, and money supply have a significant long-term impact on the RPPI. In the short-term, GDP and property credit growth have a negative impact on RPPI, while NPL and exchange rate do not. Causality tests indicate a bidirectional relationship between NPL and GDP with RPPI, with probability values exceeding 0.05. This study provides valuable insights into the monetary factors affecting residential property prices and suggestions for future research. AcknowledgmentThe authors gratefully acknowledge Ahmad Dahlan University for the support and facilities provided in conducting this research. They also greatly appreciate the academic resources that supported the data collection process and careful analysis of our findings. Besides, the authors express their gratitude to Bank Indonesia and Badan Pusat Statistik for their invaluable contribution to the data used in this research.

DETERMINANTS OF INFLATION IN TURKEY AMID ECONOMIC AND GEOPOLITICAL TURMOIL

This study aims to investigate the factors influencing inflation in Turkey between 2006:1-2023:11, taking into account the structural changes that occurred during periods of significant economic, political and geopolitical turmoils. For this purpose, we employ the Hacker and Hatemi-J (2006) bootstrap causality test along with the Fourier Toda-Yamamoto bootstrap causality to capture structural changes. Our findings indicate that when structural changes are taken into account, the drivers of inflation are monetary factors such as the money supply and exchange rate. Furthermore, an exogenous factor such as the oil prices is not a determinant of inflation, suggesting that inflation is a domestic factor. Given these findings, the study emphasizes the importance of strong and stable monetary policies in Turkey to control inflation and achieve price stability.

Good vs. bad volatility in major cryptocurrencies: The dichotomy and drivers of connectedness

Cryptocurrencies exhibit unique statistical and dynamic properties compared to those of traditional financial assets, making the study of their volatility crucial for portfolio managers and traders. We investigate the volatility connectedness dynamics of a representative set of eight major crypto assets. Methodologically, we decompose the measured volatility into positive and negative components and employ the time-varying parameters vector autoregression (TVP-VAR) framework to show distinct dynamics associated with market booms and downturns. Our findings indicate that crypto connectedness reflects important events and oscillates substantially while reaching lower limit values when compared to traditional financial markets. Periods of extremely high or low connectedness are clearly linked to specific events in the crypto market and macroeconomic or monetary history. Furthermore, existing asymmetry from good and bad volatility indicates that market downturns spill over substantially faster than comparable market surges. Overall, the connectedness dynamics are driven by a combination of both crypto (momentum, on-chain activity, off-chain activity) and legacy financial and economic (financial and economic uncertainty, and financial market performance) factors, while the asymmetry is more connected to the off-chain crypto activity and the combination of economic, financial, and monetary factors. In both the total connectedness and asymmetry modeling, these can serve as hands-on indicators to be further translated into specific portfolio re-balancing decisions, risk management, and regulatory frameworks.

The influence of monetary factors on the formation of nominal interest rates

Subject. This article examines the impact of inflation expectations and the real interest rate on the market situation in Russia within the period from 2010 to 2022. Objectives. The article aims to test the possible disputability of the assumption that if the real interest rate remains stable, then the nominal interest rate should respond to changes in inflation expectations, because according to the results of most research works, the Fisher hypothesis is not confirmed in developing countries, while for countries with developed economies this phenomenon is confirmed. Methods. For the study, I used econometric tests, as well as modeling of the effect using short-term regression with an element of error correction estimated by the least squares method. Results. The Fisher effect in the Russian market has not been confirmed, which emphasizes the specifics of the functioning of emerging markets. Conclusions and Relevance. The results of the study may be useful to financial market agents and can be used to assess the effect of the current regressors under study on the nominal yield of the Russian fixed-income securities market. The application of the results of the study can also contribute to improving the forecasting of market trends in a changing macroeconomic environment.

Should the European Union prioritize renewble energy or tackle energy poverty?

Energy poverty is a type of poverty that is not solely based on monetary factors. It has recently been highlighted in the literature alongside the acknowledgment of energy as a key component of sustainable economic growth. Many studies focus on replacing fossil fuels with renewable energy sources to address this issue. This study aims to analyze the impact of renewable energy consumption on energy poverty in the European Union from 1996 to 2020. The study incorporates a control variable, developed using Principal Component Analysis (PCA), to account for economic development. Second-generation panel data tests and the Common Correlated Effects Model are utilized to assess the short and long-term effects. The findings indicate that the control variable had no significant impact on energy poverty during the relevant period. Still, renewable energy consumption had both positive effects in developed countries and negative effects in transition economies. According to the results, energy poverty measures remain a key priority in most of Europe's energy policies. This highlights the significance of ensuring that the underprivileged section of society has access to affordable and sustainable energy sources.

ИССЛЕДОВАНИЕ ФАКТОРОВ МОТИВАЦИИ В АПТЕЧНОЙ ОРГАНИЗАЦИИ

The article presents the results of a study of the motivation of pharmaceutical personnel as one of the most important factors in increasing labor productivity in pharmacy organizations (JSC). Motivation serves as a personalized guideline that helps the manager identify a list of tools that lead JSC specialists to increase labor productivity. Currently, most of the motivational policy is occupied by material factors and this is insufficient in personnel management. The purpose of this work is to identify the primary motivating factors, as well as to study the opinions of JSC employees on the problems of motivation in the work of pharmaceutical personnel. Questionnaires, including those based on the Internet platform Google Forms, were used as research materials; the following methods were chosen: statistical, mathematical, content analysis, sociological survey, grouping methods. The study was conducted in the period April-May 2023. In the course of the work, the degree of significance of motivational factors was revealed, personnel motivation systems in specific pharmacy chains were analyzed, and the main advantages and disadvantages of existing systems in specific pharmacy chains in Voronezh were established. The material and monetary factor is the leading one, while among the material and non-monetary motivational factors, JSC employees give preference to additional medical insurance and partial payment for vacations. Based on the results of the study, it can be concluded that the motivational system should not be built on one type of incentive. By properly motivating pharmacy workers, the head of the pharmacy can successfully coordinate their professional activities. Knowledge of the motives that influence work allows you to improve personnel management processes, obtain the greatest return on human resources, and, as a result, increase the effectiveness and profitability of the organization.

The puzzle of public health expenditure and healthcare infrastructure in India: An empirical investigation

This study examines the temporal pattern of healthcare infrastructure and manpower indicators across Indian states and regions between 2006–2020 using a composite index and data from various published sources. The study also investigates the monetary factors determining the quality and provision of healthcare infrastructure and manpower for India as a whole as well as for rural and tribal areas discretely, using a panel regression model and the generalized method of moments. The results show that economically advanced states, like Haryana and Maharashtra, do not rank highly on the index based on the healthcare infrastructure and manpower indicators; rural states with smaller populations enjoy better healthcare services. Inadequate public health expenditure results in a low ranking on the composite index and is reflected in the high infant mortality rates in Bihar, Uttar Pradesh, and Madhya Pradesh, though the situation is reversed in Kerala. The panel regression model reveals that increased per capita public health expenditure has not translated into improved healthcare infrastructure and manpower in Indian states or tribal regions within those states. The public health expenditure to gross state domestic product ratio is a positively significant predictor of healthcare infrastructure and manpower in rural areas. The panel generalized method of moments results confirm that developing targeted healthcare infrastructure and manpower in India as a whole, as well as for rural and tribal areas in the short term, has been poorly realized.

Monetary indicators in the financial monitoring system in Russia

During the dynamic transformations in the economy, including in the financial sector, there is a need to adapt the existing financial monitoring system in Russia. To implement it, a system of indicators is used, on which the effectiveness of financial monitoring and the achievement of various goals depends. Therefore, the main criterion for financial monitoring is the completeness of the monitored indicators. This article examines the problem of the lack of indicators of monetary factors of economic processes and phenomena in the financial monitoring system in Russia, which creates a sphere of potential and real risks in the domestic economy. From here, the object of research is determined, which are monetary indicators. The subject of the study is specific monetary indicators: the key rate of the Central Bank of the Russian Federation, the ruble exchange rate, the RTS index. The achievement of research goals and objectives is carried out using general scientific methods of comparison, analysis, synthesis and generalization. The purpose of this article is to search for indicators that can clearly reflect the problems in the financial aspect that have developed in Russia. It is also argued that the use of monetary indicators in financial monitoring will make it possible to organize financial monitoring in Russia more effectively, that is, to ensure timely and more complete achievement of various goals and objectives of public administration. To achieve this goal, the essence of financial monitoring in Russia, the indicators used in it, as well as the search and analysis of new monetary indicators with subsequent conclusions about the viability of their use are considered. As a result, it can be understood that monetary indicators explain some of the causes of crisis phenomena, thereby proving the need for their inclusion in the Russian financial monitoring system.

‘You can book an interpreter the same way you order your Uber': (re)interpreting work and digital labour platforms

ABSTRACT The gig economy, encompassing on-demand work via platforms, has grown exponentially with significant consequences for the interpreting industry. Arguing that this tendency of the interpreting industry towards gig work reflects wider shifts in both labour-capital relations and the role of technology in the economy, this study explores ‘gig’ interpreting work from a labour process theory perspective. Leveraging a qualitative case study of three platforms in Northwestern Europe, as well as interviews with platform companies’ managers and interpreters, the study indicates that platformisation is impacting business models, organisation, and intermediation of interpreting work, with implications for interpreters’ working conditions. The study finds that engaging in platform work exposes interpreters to risks related to monetary factors, algorithmic control, individualisation of employment relations, on-demand availability, and subjugation to a digital form of supply-demand intermediation. In contrast, platform companies push towards maximising interests of profit and flexibility, harnessing the potential of gig work as the natural, entrepreneurial extension of interpreters’ self-employment status. The study contributes to interpreting and sociological studies on workplace developments in digital capitalism, suggesting that the configuration of interpreting in platform-mediated production lubricates an exploitative labour-capital relationship.

Does Climate Change Cause an Upsurge in Food Prices?

Climate change is the reason behind most contemporary economic problems. The rising inflationary pressures in the food sector are one of these problems, and stable food prices are a necessity for economic development and social cohesion in societies. Therefore, this study analyzes the relationship between food prices and climate change in Nigeria by using various non-linear and quantile-based methods and data from 2008m5 to 2020m12. The empirical findings indicate that (i) there is a time- and frequency-based dependence between food prices and some explanatory variables, including climate change (i.e., temperature). (ii) At higher quantiles, temperature, oil prices, food exports, monetary expansion, global food prices, agricultural prices, and fertilizer prices stimulate food prices. (iii) The increase in food prices due to the rise in temperature and the difficulties in agriculture indicate that the heatflation phenomenon is present in Nigeria. The evidence outlines that Nigerian decisionmakers should adopt a national food security policy that considers environmental, agricultural, and monetary factors to stabilize food prices.

Financial Intermediation, Economic Growth, and Business Cycles

This paper aims to examine the importance of financial intermediation in economic activity. We also explore the effects of monetary factors and financial frictions on the relationship between financial intermediation and economic growth, the drivers of business cycles, and how shocks spread through the intermediation process. Financial intermediaries improve fund allocation, minimize monitoring costs, minimize liquidity risk, simplify risk management, and facilitate portfolio diversification and resource allocation to more productive activities. In addition, financial intermediaries collect and analyze information about investment projects, allocating resources and managing information more efficiently than individual investors. We conclude that financial intermediation is significant for economic growth. In addition, we show that financial market frictions can amplify exogenous shocks, affecting investment, economic growth rates, and macroeconomic stability. Reducing financial frictions through intermediation is crucial.

Factors Affecting Autonomous Vehicles Adoption: A Systematic Review, Proposed Framework, and Future Roadmap

Autonomous vehicles (AVs) offer several benefits, such as improving road safety, mitigating traffic congestion, and reducing fuel consumption and gas emissions. Despite these benefits, their adoption rate remains limited due to various factors influencing users’ decisions. While previous studies have identified numerous factors influencing AV adoption using various adoption frameworks, the factors have not been comprehensively analyzed and synthesized. Thus, this systematic review aims to bridge this gap by identifying and classifying the factors influencing the adoption of AVs. Out of 3,532 collected research papers, 71 empirical studies were analyzed thoroughly. The findings demonstrated that the technology acceptance model (TAM) was the most widely used model for investigating AV adoption. The identified factors in the analyzed studies were classified into distinct categories: psychological and behavioral factors, technological factors, social factors, environmental factors, security and privacy factors, AV-related factors, risky and negative factors, conditional factors, and monetary factors. We have proposed an AV adoption framework grounded in this taxonomy to direct subsequent empirical research. We have also highlighted numerous agendas to serve as a blueprint for future AV adoption studies. This review offers various theoretical insights and actionable recommendations for multiple AV research, development, and implementation stakeholders.

Interrelationships among Tourism, Economic, and Environmental Time Series—The Case of Slovenia

This study examines the relationship between CO2 emissions and economic factors in the hospitality industry, covering the period from January 2000 to December 2021. The research findings reveal an association between prices, fiscal and monetary factors, and wages in the hospitality industry. CO2 emissions contribute to environmental degradation and are among the external variables. To test the validity of their hypotheses, the researchers employ the principal components analysis method, using two main components and new regressors to explain most of the variances in a sample of 18 variables. The study employs monthly time series data to explore the links between the variables in the hospitality industry. The study results reveal a connection between shocks during the analysed period and increased CO2 emissions. The period under review includes Slovenia’s European accession in 2004, adoption of the Euro in 2007, the financial crises in 2008/2009, economic expansion in the previous decade, and, most recently, the COVID-19 pandemic and the beginning of energy distortions. The study’s primary application involves processing 264 monthly observations, which provide an essential time series vector. The discussion section delves into the country’s sustainable tourism development concept, aligning with the Sustainable Development Goals (SDGs) Key Action 12.

Identifying money and inflation expectation shocks to real oil prices

The paper extends the well-known three-variable SVAR model that explains real oil prices based on supply and demand shocks to the oil market. We identify significant monetary sources of shocks to real oil prices through a money supply shock and an inflation expectations shock. Results indicate robust significance of these two monetary shocks under a variety of time periods, using an alternate aggregate demand variable, and adding a fourth fundamental variable based on oil inventories. We also use alternative money aggregates for the money supply. Given their significance, we derive a historical variance decomposition of real oil price changes by each shock's contribution. We find a significant displacement of oil supply and demand factors by monetary factors that we match up to historical US monetary policy regimes. During major oil price episodes when monetary shocks dominate, the US money supply and inflation expectation shocks largely explain oil price increases above fundamentals. We interpret this in terms of the US monetary policy during crisis periods and find a common component of that policy linked to oil price episodes. Results imply that US monetary policy led to unintended consequences in energy markets. The results could facilitate improvements in international energy policy, US monetary policy, and global economic stability.

A new model for the economic impact assessment of large-scale and deep open-pit mines

ABSTRACT This study focuses on examining economic impacts associated with deep and large-scale open-pit mining operations, which are often neglected in environmental impact assessments. Using Z-Fuzzy Delphi AHP and scenario-based techniques, 28 economic impacts were classified into seven categories and evaluated for the Sungun Copper mine in northwest Iran. Results indicated that socioeconomic factors had the highest weight (21.4%), while monetary factors had the lowest weight (7.5%). The economic sustainability score for the SCM was calculated to be 2.111, indicating poor economic performance. This research highlights the importance of considering economic impacts in mining operations for sustainable development.

Fiscal or monetary? Efficacy of regulatory regimes and energy trilemma of the inflation reduction act (IRA)

This paper examines the relative effectiveness of fiscal and monetary policies in achieving the goals of the Inflation Reduction Act of 2022 (IRA), a historic legislation that addresses the energy trilemma of security, inflation, and sustainability, while also promoting growth and employment in the U.S. The IRA relies mainly on fiscal measures, such as subsidies and stimulus packages, which can create deficit or surplus depending on the tax revenues. However, some of the IRA goals, such as inflation, growth, and employment, are largely influenced by monetary factors, which suggests the possibility of using monetary policies as alternative or complementary instruments in the IRA. Using a macroeconomic model, we compare the impacts of fiscal and monetary policies on the IRA outcomes and find that the monetary policy is more effective than the fiscal policy in achieving the IRA objectives, especially in the post-covid period. Our results have important implications for policymakers who need to evaluate the optimal policy mix for the successful implementation of the IRA.

Boosting Productivity and Profitability of Chickpea through Cluster Front Line Demonstration (CFLD) in Churu District of Rajasthan

The present study was conducted during rabi season (October to April) of four consecutive years from 2018–19 to 2021–22 at 175 selected farmer’s field in Dhani Gangajal, Kalana Tal, Bas Mamraj, Bhamra, Nethwa, Sahawa and Dingli villages of Churu District, Rajasthan, India. A total of 175 Cluster Front Line Demonstrations (CFLD) on chickpea was conducted. The farming situation was both irrigated and rainfed while, soil was sandy to sandy loam low in nitrogen, medium in phosphorus and medium to high in potash. Gap assessment was done and on the basis of gap assessment, improved recommended technologies were demonstrated. On four-year average basis, higher grain yield was recorded under demonstration field (1714 kg ha-1) as compared to farmers practices (1379 kg ha-1) which was 24.30% higher than farmer’s practices (Local check). The average extension gap, technology gap and technology index were 336 kg ha-1, 849 kg ha-1 and 20.12%, respectively. The higher average total returns was also recorded in demonstration plot which was ` 86721 ha-1 as compared to farmer’s practices (`Rs. 86721 ha-1). There was no much difference in cost of cultivation for demonstration plot (` 24980 ha-1) and farmers practices (`Rs. 22980 ha-1). An additional investment of `Rs. 2000 ha-1 consists with scientific monitoring of demonstration and non–monetary factors resulted in additional return of ` Rs. 16,939 ha-1. Due to higher additional return farmers got `Rs. 14939 ha-1 as effective gain. On four-year average basis, incremental benefit:cost ratio was recorded 8.45.

Research on the Impact of Economic Policy Uncertainty on Macro-economy from the Perspective of Sustainable Development

The reason of economic fluctuation has always been the most important topic in macro-economy research. In traditional economic theory, there are many reasons for economic fluctuation, both monetary factors and real economic factors will cause economic fluctuation. This paper takes the uncertainty of economic policy as the object of investigation, based on the perspective of sustainable development, and empirically tests the specific impact of economic policy uncertainty on macro-economy in a complete economic cycle through TVP-VAR model. Investment, consumption and R&D are included as endogenous variables. This paper empirically tests the impact of economic policy uncertainty on macro-economy variables such as investment, consumption, economic output and inflation rate in a complete economic cycle. The results show that the uncertainty of economic policy has a negative impact on investment and consumption. The negative impact of economic policy uncertainty in the fourth phase is the strongest, and the short-term negative impact will continue to deepen after 2019 until 2021, and the impact of the first phase will remain at around -0.15%. The variable that has the greatest influence on output fluctuation is economic uncertainty, which accounts for 84.15% of the fluctuation. Secondly, technological progress contributes 79.88% to output fluctuation, and economic uncertainty has a negative impact on output. The impact of economic uncertainty on output fluctuation is stronger than that on consumption, capital and employment.