Economic Perspective Research Articles

Policy Note: Special Taxes for Special Times? A Critical Analysis of Fiscal Crisis Responses with an Earmarking Feature in the Context of EU Law

Do special times require special taxes? The answer may not be the same from a legal, political, or economic perspective. One type of answer that legislators in Europe – both on the national and the supranational level – have given to the crises that make our times special are fiscal measures targeting extraordinary profits, revenues, or even assets while reserving the collected revenue for specific purposes. This article discusses the arguments for and against such earmarked crisis response measures in the context of their implications in the framework of EU law. It argues that specific earmarks may be attractive for reasons of political psychology such as health expenditure or inflation relief for households and firms. However, they may have unintended legal consequences by putting the respective measure into the scope of other legal regimes such as social security or banking regulation. The article contributes to the current debate about appropriate fiscal measures in times of crisis by pointing to examples of such direct and indirect interactions with primary or secondary EU law based on earmarking.

An introduction to causal discovery

AbstractIn social sciences and economics, causal inference traditionally focuses on assessing the impact of predefined treatments (or interventions) on predefined outcomes, such as the effect of education programs on earnings. Causal discovery, in contrast, aims to uncover causal relationships among multiple variables in a data-driven manner, by investigating statistical associations rather than relying on predefined causal structures. This approach, more common in computer science, seeks to understand causality in an entire system of variables, which can be visualized by causal graphs. This survey provides an introduction to key concepts, algorithms, and applications of causal discovery from the perspectives of economics and social sciences. It covers fundamental concepts like d-separation, causal faithfulness, and Markov equivalence, sketches various algorithms for causal discovery and discusses the back-door and front-door criteria for identifying causal effects. The survey concludes with more specific examples of causal discovery, e.g., for learning all variables that directly affect an outcome of interest and/or testing identification of causal effects in observational data.

Rural areas as winners of COVID-19, digitalization and remote working? Empirical evidence from recent internal migration in Germany

Abstract The COVID-19 pandemic has caused economic crises and increased inter-regional economic disparities. However, the catalyst effect that the pandemic has had on digitalization may change the traditional pattern of internal migration, in favour of rural areas. Using time-sensitive register data we explain changes in net migration rates of German districts from an economic geography perspective. We show that, since the beginning of the pandemic, rural regions benefited more from migration. In particular, younger and highly skilled individuals increasingly move to rural areas. This confirms that rural regions can benefit from increasing remote work, but these effects differ across region types and individual skill levels.

The judicial response to rent controls in Europe: Protecting property rights against state’s intervention?

AbstractThis essay examines, from a legal and economic perspective, the judicial response to rent controls in the EU focusing on three courts that operate at the fundamental rights and constitutional level: the European Court of Human Rights (ECtHR), the German Federal Constitutional Court (BVerfGE), and the Italian Constitutional Court. Based on an analysis of a sample of judicial decisions rendered over time, a convergent trend emerges: these Courts have recognized and effectively protected the landlord’s property rights against rent controls that were disproportionate and could not ensure a reasonable return on investment. This trend is prominent in the jurisprudence of the ECtHR: the Strasbourg Court has contributed to reshaping the distribution of power between tenants and landlords, encouraging the transition of Eastern and Southern European Countries to the common European housing market. In both upholding and striking down rent control measures, judges generally take market value and the comparative reference price as the preferred benchmarks for fair rent price. A consumption-based and financial characterization of housing, coupled with the fundamental right to derive economic benefits as core elements of the right to property, underpin the legal reasoning of the three Courts.

Personal Bankruptcy Prediction Using Logistic Regression Model

According to the Insolvency Department of Malaysia, as of December 2023, 233,483 Malaysians are currently involved in bankruptcy cases due to their defaults on hire purchase loans, credit card loans, personal loans, housing loans, and business loans. This is indeed a critical issue because the growing number of personal bankruptcy cases will hurt the Malaysian economy as well as society. From an individual's economic perspective, bankruptcy minimizes their chances of getting a job. Apart from that, their accounts will be frozen, they will lose control of their properties and assets, and they will not be allowed to start any business or be a part of any company's Board of Directors. Bankrupts also will be rejected from any loan application. This paper examines this problem by developing a personal bankruptcy prediction model using the logistic regression technique. This paper defines "bankrupt" as terminated members who failed to settle their loans. The sample comprised 24,546 cases with 17% settled cases and 83% terminated cases. The data included a dependent variable, i.e., bankruptcy status (Y=1(bankrupt), Y=0(non-bankrupt)), and 12 predictors. Upon completion, this paper succeeds in coming out with a reliable personal bankruptcy prediction model and significant variables of personal bankruptcy. The findings of this paper are very beneficial and significant to creditors, banks, the Malaysia Department of Insolvency, potential borrowers, members of AKPK, and society in general in raising awareness of personal bankruptcy risks and such information may help them to take preventive measures in minimizing the number of personal bankruptcy cases.

Optimizing Eurasian Perch Production: Innovative Aquaculture in Earthen Ponds Using RAS and RAMPS—Economic Perspective

Aquaculture in rural areas, carried out in accordance with current EU requirements, aims to contribute significantly to the conservation of the biodiversity of aquatic resources, the protection of which is a prerequisite for sustainable economic and social development. The objective of this study was to present the conceptual and technical framework and to analyze the costs and profitability of producing the consumer-attractive Eurasian perch (Perca fluviatilis L.) based on the untapped potential of hatchery infrastructure and dedicated earthen ponds for common carp (Cyprinus carpio L.) production. The experiments were conducted under Polish conditions, but the results/methods can be successfully applied in other countries, mainly in Central and Eastern Europe, where production in earthen ponds is the basis of aquaculture production. The analysis of the profitability of the venture shows that the cost structure was dominated by labor and feed inputs. Despite high variable costs, this type of production can be profitable and contribute to food security and economic development in line with the EU’s Blue Growth Strategy. The article also analyzes the potential opportunities and risks of fish production based on the Recirculating Aquaculture System (RAS) and the Recirculating Aquaculture Multitrophic Pond System (RAMPS).

Sustainable agriculture development for food safety and nutrition

Sustainable agriculture is a type of agriculture which, in addition to producing food and agricultural products, is also economically advantageous for farmers, socially correct, respectful of nature and the environment. Sustainable agriculture contributes to improving the quality of life of both farmers and society. Climate change, economic development and social equity influence the sustainable agriculture and require complex and shared solutions on a large scale. Sustainable agriculture includes different meanings, such as environmental, social and economic perspective. The environmental perspective is related to the development of virtuous processes that respect the planet's resources, the healthiness of the soil and water, guaranteeing the maintenance of biodiversity and avoiding the use of pesticides and chemical agents. The social and economic perspective is the ability to meet the global demand of both industrialized and developing countries by ensuring the improvement of the protection of human rights and solidarity-based economic development, the quality of life of farmers, the ethical treatment of animals. The aim of this work is to discuss the implications and perspectives of sustainable agriculture in relation to food production.

Analysis of the Sustainable Role of Higher Education in the Economy

Higher education injects impetus into the sustainable development of the economy by improving the structural and functional order of the education system. From the perspective of economics, the higher salary level of higher education graduates not only indicates the improvement of personal value, but also directly reflects the added value of education. The purpose of this paper is to explore the current state of higher education development in Asian countries and to provide an in-depth analysis of how it can promote economic growth through three main pathways. The value-added evaluation mechanism of higher education encompasses the entire educational process, and its core function is to diagnose, improve and monitor the quality of education to ensure that the ultimate goal of education is to achieve quality, equity and sustainable development. Therefore, the government should expand and deepen the scope and depth of the implementation of the higher education revitalization plan in an orderly manner, continuously improve the compatibility of the plan with the current situation of local development, and continuously improve the support system for the higher education revitalization plan to promote economic growth. This will help optimize the allocation of higher education resources, narrow the economic development gap, and achieve shared prosperity.

NexoNet: Blockchain Online Social Media with User-Centric Multiple Incentive Mechanism and PoAP Consensus Mechanism

Online social media (OSM) has revolutionized the manner in which communication unfolds, enabling users to spontaneously generate, disseminate, share, and aggregate multimedia data across the internet. Nevertheless, in this exchange of information, OSM platforms assume a dominant, central role, wielding excessive power. Blockchain online social media (BOSM) seeks to mitigate the drawbacks of traditional centralized OSM by leveraging the decentralized nature of blockchain technology, migrating the functionalities of social media into a decentralized realm, and positioning the users at the core of the OSM ecosystem. However, current BOSM models often rely on tokens for incentives and are hampered by the centralized, inefficient blockchain consensus mechanisms, alongside vulnerabilities such as collusion attacks. This paper introduces a novel blockchain system, NexoNet, tailored for decentralized social media, exploring the application of blockchain technology in the realm of online social media from both technical and economic perspectives. The NexoNet quantifies and evaluates user participation within the system, employing a multiple incentive mechanism to equitably distribute value created by users without the need for tokens. Furthermore, we propose the Proof-of-Active-Participation (PoAP) blockchain consensus mechanism, enabling all users to partake in the maintenance of the blockchain system, thus ensuring its security and efficiency. Theoretical analysis and simulations across various scenarios demonstrate that the NexoNet, with extensive user engagement, achieves equitable value distribution through its multiple incentive mechanism. It successfully safeguards against a spectrum of malicious attacks and attains high transaction processing efficiency. The simulation results show that NexoNet achieves an average transaction throughput of 2000 transactions per second (TPS) and a consensus delay of 2.385 s with 100 maintainers in the network. Furthermore, our tests demonstrated that even collusion with users comprising 75% of the total would only allow an additional 30 chances to propose a block. By deeply integrating user behavior with the underlying mechanisms of the blockchain system, the NexoNet fosters a user-centric blockchain social media ecosystem.

Ecological Construction of China's Music Industry from the Perspective of Cultural Economy

As an important part of culture economy, the Chinese music industry has shown a steady growth trend from the supply side, consumption side, and channel side, but there are still some structural contradictions, weak links and problems. With draw lessons from international advanced experience, this paper considers that the healthy and vigorous development of the music industry of China requires the protection of intellectual property rights, the support of financial and tax policies, the cultivation of professional talents, the forging of the industrial chain, and the encouragement of the "going global" of the music industry. This paper believes that the pursuit of spiritual life by humans is endless, the world music industry has shown great market potential and bright growth prospects.

Green Financing, Energy Transformation, and the Moderating Effect of Digital Economy in Developing Countries

AbstractThe energy sector in many developing nations faces the difficulty of insufficient financing throughout the low-carbon transition, highlighting the importance of international green financing in alleviating financial constraints. The advancement of digital technology could facilitate green financing for energy transition in the digital economy, but this statement lacks empirical evidence. The primary objective of this research is to investigate the impact of international green financing on low-carbon energy transformation in developing nations. Additionally, we investigate the moderating role of digital economy between the two. Our findings validate the favorable impact of international green financing on low-carbon energy transformation, and this impact is particularly evident for hydro and wind energy consumption. We show that this beneficial effect is greater for low-income countries or regions with high levels of energy transition. We also provide evidence of the positive moderation effects of digital economy and find that its effects are still present in the transition to hydro and wind energy. This research helps to broaden green financing channels for the energy sector in developing countries, especially from the perspective of digital economy.

Time junior middle school students invested to sports and their cognitive skill development: a time economics perspective

Great importance is attached to physical exercise and students’ cognitive development, yet the precise mechanism linking the time duration of physical activities or sports with adolescents’ cognitive development remains inconclusive. Based on the two-wave panel data of China Education Panel Survey (CEPS), this paper empirically examines the impact of daily physical exercise duration on junior middle school students’ cognitive abilities, by using the two-way fixed-effect estimation. The findings reveal a nonlinear relationship, specifically an inverted “U”-shaped pattern, between daily time length of physical activities or sports and students’ cognitive performance. The cognitive benefits of time investment in physical activities or sports reach the peak at approximately 0.829 h (equivalent to 50 min) per day among the teenagers in China. Furthermore, the daily time allocated to physical activities or sports affects students’ cognitive performance differentially, students attending rural schools were rewarded more progressively, students of poorer physical fitness and those in good shape did not show discernible between-group differences. This study shades light on educational governance and time management, urging school administrators, parents and students to optimize the efficiency and utility of time resource invested in sports activities.

Not Talking about Climate Change: Everyday Interactions, Relational Work and Climate Silences

Despite evidence of extensive and growing concern about climate change, citizens remain relatively unlikely to discuss it in everyday conversation, presenting a puzzle to commentators and researchers. Different explanations of climate silence have been suggested, most notably from social psychology and from political economy perspectives, which posit forms of cultural control. However, there is limited evidence about the relational contexts of everyday climate talk and the meanings that people themselves attach to it. In this article, we analyse data from new qualitative research and explore how climate talk is patterned, forms of self-silencing and the meanings attached to climate talk, with reference to its interactional and relational contexts. We argue that social interactional contexts, relational work and mundane forms of practical constraint play an under-investigated yet crucial role in limiting climate talk.

Unveiling the paradox of organizational justice: an integrative categorization bridging economic and deontic perspectives

Unveiling the paradox of organizational justice: an integrative categorization bridging economic and deontic perspectives

Exploring the Role of Business Incubators to Sustainable Startups: A Systematic Literature Review

Business incubators play a crucial role in fostering the sustainability and growth of early-stage startups. They provide access, financial support, training, infrastructure, connections with investors, and more. However, many business incubators do not effectively maximize startup potential. This study aims to systematically review and analyze the key characteristics contributing to the role of business incubators in promoting sustainable startups. The study will follow the PRISMA statement (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) and employ document analysis integrating multiple research designs, based on established standards. It will compile and analyze 68 articles from global sources, utilizing open-access articles and accessing primary databases such as Web of Science (WoS) and Scopus for article retrieval. Through content analysis, this study identified fifteen main categories that significantly impact startup businesses: (1) financial support, (2) business support and services, (3) networking support, (4) mentoring activities, (5) infrastructure, (6) human capital, (7) access to knowledge and information, (8) social values and environment, (9) marketing capabilities and support, (10) technology support, (11) entrepreneurship education (courses and curriculum), (12) programs, projects, and events, (13) research and development support, (14) government policy support, and (15) legitimacy involvement. The findings highlight five main aspects—financial, business, networking, mentoring, and infrastructure—as crucial for effective startup support and implementation. From an economic sociology perspective, these articles discuss the dynamic roles of business incubators, emphasizing urgent factors and essential designs for success in the face of future challenges.

The Problems and Solutions of Enterprise Financial Management in the Perspective of Digital Economy

From the perspective of the digital economy, enterprise financial management is facing unprecedented challenges and opportunities. Traditional financial management models are no longer suited to current development needs. Fine-tuning financial management is essential to support the modernization of enterprises, guard against operational risks, and promote coordination across the entire value chain for greater economic efficiency. With the help of digital technology, data-driven, highly interconnected, and intelligent decision-making processes are becoming more prominent, profoundly transforming the operational and financial management models of enterprises. This enables financial management to keep pace with modern developments. In light of this, the paper explores the connotations and mechanisms of the digital economy and enterprise financial management, clarifies relevant conceptual characteristics, and identifies problems in financial management under the digital economy. It also offers strategies for optimization and problem-solving, with the aim of providing valuable insights for educators and practitioners.

Evaluation of long-term care expenditures from the silver economy perspective

Silver economics is a field of science that evaluates the long-term care needs that develop because of aging from the economics perspective within the supply and demand framework. The expenditures and investments made to meet long-term care needs constitute the main subject of long-term care expenditures. This study empirically tested the relationship between long-term care expenditures and life expectancy. Expenditures on long-term care facilities (LTCFE) were taken as the dependent variable, and life expectancy at birth (LEAB) and life expectancy at 65 years and over (LEO65) were taken as independent variables. The analysis included data from 25 countries with regular LTCFE from 2004 to 2020. The variables were analyzed using the econometric model established within the framework of panel data analysis. According to the least squares analysis results, a 1% increase in LEAB increased LTCFE by 2.1%, while a 1% increase in LEO65 decreased LTCFE by 0.54%. Moreover, a unidirectional causality relationship was found between LTCFE and LEAB and LEO65. The empirical evidence suggests that life expectancy impacted LTCFE. According to the findings, they emphasize the importance of aligning policy frameworks with demographic changes to ensure sustainable long-term care systems in aging societies.

Elemental Sulfur Promoted Cyclization of o‐Chloronitrobenzenes and Aryl Isothiocyanates to Furnish 2‐Aminobenzothiazoles

Methods to afford 2‐aminobenzothiazoles often involve the use of o‐aminothiophenols or aniline‐typed precursors. Herein we describe a method to furnish 2‐aminobenzothiazoles through the cyclization of o‐chloronitrobenzenes and aryl isothiocyanates with the assistance of elemental sulfur. From the perspective of step economy, our strategy allows for the direct use of nitroarene precursors without further reduction to anilines. The scope of the reaction with respect to both substrates was investigated, and it was found that electronic properties of the aryl isothiocyanate was important for obtaining acceptable yields.

Dreams and Disillusionment: A Critique of the American Dream in American Fiction

This paper examines the vanity and consequences of the American Dream in four novels: Upton Sinclair's The Jungle, Jack London's The Iron Heel, F. Scott Fitzgerald’s The Great Gatsby, and John Steinbeck's The Grapes of Wrath. A socio-political analysis of these authors and their works exposes the hollow nature of the dream. The Jungle is discussed from a racial and economic perspective, highlighting the plight of Jurgis and his Lithuanian family who are disillusioned in their pursuit of success. The Iron Heel is examined politically, showcasing the struggle between the capitalist class and workers. In The Great Gatsby, Fitzgerald presents a social satire, critiquing the death of American ideals sacrificed for materialism. The Grapes of Wrath analyzes the American Dream through the Joad family's migration and exploitation. The study compares the treatment of the American Dream in these novels, referencing texts, socio-economic contexts, and relevant critical works.

Legal and economic perspectives on fair and equitable benefit sharing in the Nagoya Protocol.

Adopted in 2010 as a supplementary agreement to the 1992 Convention on Biological Diversity, the Nagoya Protocol (NP) mandates the fair and equitable sharing of benefits arising from the use of genetic resources provided by Indigenous peoples. Member states must newly enact or amend domestic laws to align with the NP. Consequently, many countries are currently implementing legislative, administrative, and policy measures to ensure fair benefit sharing from the use of Indigenous genetic resources. We examined the inclusion of intellectual property (IP) protection in the sharing of benefits from research and development that utilizes Indigenous genetic resources. The NP does not specify guidelines for IP-related benefit sharing, leaving each member state to establish its own rules. We used an economics-based approach to explore the optimal scope and duration of IP protection for maximizing stakeholder interests, including those of Indigenous peoples, at the national level. The optimal duration of IP protection was when the marginal social cost and benefit of IP protection were equal. When this point occurred varied depending on various factors, such as the type of genetic resources in the country, existence of alternatives, number of users, and competing actors. The optimal scope of IP protection was when the social benefit of investment in fundamental research equaled the social benefit of application development. Likewise, this point of implementation also varied based on various factors, such as the type, uniqueness, potential for further discovery, and diversity of providers in the country.