Redistributive Effects Research Articles

The long-run redistributive effects of monetary policy

Using a general equilibrium search-theoretic model of money, I study the long-run distributional effects of monetary policy. In my model, heterogeneous agents trade bilaterally in a frictional market and save using cash and illiquid short-term nominal government bonds. Wealth effects generate slow adjustments in agents’ portfolios following their trading activity in decentralized markets, giving rise to a persistent and non-degenerate distribution of assets. The model reproduces the distribution of asset levels and portfolios across households observed in the data. I show that, as wealth inequality increases the incidence of inefficiencies in decentralized trading, policies that improve the ability to self-insure against idiosyncratic shocks are welfare-improving and redistribute resources towards agents that are relatively poor and more liquidity constrained.

Electrically conductive metal oxide-Assisted multifunctional separator for highly stable Lithium-Metal batteries

Lithium (Li) metal anodes have received intensive attention owing to its high specific capacity and low redox potential. However, chronic issues related to dendritic Li growth have hindered the pragmatic use of Li-metal batteries (LMBs). As one of feasible approaches, depositing a functional material on the separator is an efficient strategy for improving the electrochemical stability of LMBs. In this paper, we report a functionalized separator, comprising a nitrided niobium dioxide (named as n-NbO2) and a polypropylene (PP) separator. It is identified that niobium oxide interact with metallic Li, resulting in redistributing the localized Li ion. The n-NbO2-coated separator with enhanced electrical conductivity promotes Li plating/stripping process, reinforcing the Li ion redistribution effect. Due to these properties, Li-Cu cells with the n-NbO2-coated separator show the most outstanding cycle stability with high Coulombic efficiency (CE) over 200 cycles.

Оценки потребности в оборотном капитале при инвестициях в развитие здравоохранения

The spread of medical technologies underpins the transition to the next global economic mode and requires large-scale investments in health sector. To substantiate them, certain methods of making investment decisions which corresponds to a new stage of scientific and technological development are required. This paper proposes the methods of investment projects evaluation based on the cost and benefit analysis, that measures both costs and benefits in monetary terms, taking into account these approaches. On the one hand, economic (public) efficiency is determined with the social effects along with other public effects being highlighted. On the other hand, financial (commercial) efficiency is calculated with a detailed presentation of investment in working capital and terminal value. In applied project analysis, working capital is either not taken into account, or simplified methods are preferred. The paper focuses on the issues of modeling investments in the growth of net working capital. A comparative analysis of working capital modeling methods in the financial models of various international organizations (UNIDO, World Bank, Asian Development Bank) and official Russian methods is carried out. Also, the author's modified method for calculating investments in working capital based on separate financial turnover and liquidity ratios is proposed, which allows taking into account industry specifics of health projects. The system of the proposed methods was tested on the example of a real project of the construction of seven urban outpatient hospitals in Novosibirsk. The results of the financial analysis with three options of working capital accounting and the economic analysis with the presentation of social, tax and redistributive effects of working capital clearly show the impact of assessing working capital requirement on the results of not only financial, but also economic efficiency, including the efficiency of participation in the project. In the frame of the economic analysis, substantial social effects for patients of new outpatient hospitals and other residents of the Novosibirsk Region were highlighted, while in the frame of financial analysis, significant effects of working capital and terminal cost for direct project participants were identified.

Taxing household energy consumption in the EU: The tax burden and its redistributive effect

The taxation of energy consumption is a central topic in current policy debate in the European Union. While raising energy taxation is part of the European Commission’s strategy for achieving its climate targets for 2030 and 2050, the ongoing dramatic increases in the price of energy products are resulting in calls to reduce taxation on them. Therefore, it is crucial to closely consider the tax burden and redistributive effects of energy taxation in order to design compensatory measures and ensure support for the green transition. In this paper, we use the EUROMOD microsimulation model to estimate the burden and the redistributive impact of energy consumption taxation on households across Member States. In doing so, we break down the roles played by differences in consumption patterns, rates of taxation (covering both excises and VAT) and their regressivity. Countries with the highest energy taxation are often not those where its tax burden on household income is the strongest. At the same time, the strongest redistributive impact is not always taking place in countries with the most regressive energy taxation.

The spatial impact of high-speed rail on firm performance: The role of proximity to urban cores

This paper examines the spatial impact of high-speed rail (HSR) connection on firm performance in China at the micro level using a unique administrative dataset. Connected firms benefit from agglomeration economies and improved market access, but the redistribution of production inputs towards urban cores may have a negative impact on firms in peripheral regions. If these opposing forces are both subject to spatial decay but at different rates, proximity to urban cores could play a crucial role in determining the overall effects of HSR connection on firms. We find that connected firms located farther from urban cores benefit the most, indicating a steeper spatial decay in the redistribution effect relative to the agglomeration effect. This research enhances our understanding of the micro-level spatial impact of HSR on regional development.

Estimation of Free and Adsorbed Gas Volumes in Shale Gas Reservoirs under a Poro-Elastic Environment

Unlike conventional gas reservoirs, fluid flow in shale gas reservoirs is characterized by complex interactions between various factors, such as stress sensitivity, matrix shrinkage, and critical desorption pressure. These factors play a crucial role in determining the behavior and productivity of shale gas reservoirs. Stress sensitivity refers to the stress changes caused by formation pressure decline during production, where the shale gas formation becomes more compressed and its porosity decreases. Matrix shrinkage, on the other hand, refers to the deformation of the shale matrix due to the gas desorption process once the reservoir pressure reaches the critical desorption pressure where absorbed gas molecules start to leave the matrix surface, causing an increase in shale matrix porosity. Therefore, the accurate estimation of gas reserves requires careful consideration of such unique and complex interactions of shale gas flow behavior when using a material balance equation (MBE). However, the existing MBEs either neglect some of these important parameters in shale gas reserve analysis or employ an iterative approach to incorporate them. Accordingly, this study introduces a straightforward modification to the material balance equation. This modification will enable more accurate estimation of shale gas reserves by considering stress sensitivity and variations in porosity during shale gas production and will also account for the effect of critical desorption pressure, water production, and water influx. By establishing a linear relationship between reservoir expansion and production terms, we eliminate the need for complex and iterative calculations. As a result, this approach offers a simpler yet effective means of estimating shale gas reserves without compromising accuracy. The proposed MBE was validated using an in-house finite element poro-elastic model which accounts for stress re-distribution and deformation effects during shale gas production. Moreover, the proposed MBE was tested using real-field data of a shale gas reservoir obtained from the literature. The results of this study demonstrate the reliability and usefulness of the modified MBE as a tool for accurately assessing free and adsorbed shale gas volumes.

A Novel Lumped-Charge Model for Insulated Gate Bipolar Transistor Based on Dynamic Charge Control

The lumped-charge (LC) model of insulated-gate bipolar transistor (IGBT) provides an effective and efficient way to study its characteristics. However, the quasi-static assumption of the charge-control equation used in existing LC models will impair the accuracy of the model during the switching transient. Thus, in this paper, a dynamic charge-control (DCC) equation that provides a direct solution of the derivative of LC with time is proposed to determine the more precise charge dynamics. In this way, the redistribution effect of charge dynamics arising from moving boundaries can be well accounted for. Moreover, a charge concentration expression for a planar-gate structure as a function of the intercell region geometry is derived to incorporate the 2-dimensional (2-D) excess carrier distribution at the MOS side. This expression is integrated into the proposed IGBT model to improve the boundary condition and provide a better description of excess carrier dynamics. The effectiveness of the proposed model is verified by comparison with the existing LC model and TCAD simulation under the premise of known device parameters. The accuracy of the proposed model is further verified by experiments including both the static and transient characteristics and compared with the existing LC IGBT model using the same advanced parameter extraction.

The Multiannual financial framework 2021–2027 and Next Generation EU - A turning point of EU multi-level governance?

ABSTRACT The agreements on Next Generation EU (NGEU) and the Multiannual Financial Framework 2021–2027 (MFF 2021–2027) are extraordinary milestones for the EU integration process. Not only do both regulations have important redistributive effects within a defined timeframe, but both regulations shape the hierarchy of objectives and instruments of EU budgetary policies. This is particularly true for cohesion policy, which has been characterised as the model of EU multilevel governance (MLG). Drawing on historical institutionalism and Peter Hall’s classification of policy change, this text examines the dynamics of change in MLG. In particular, this research looks at the timing and scope of changes in EU cohesion policy since the 1980s. We ask whether or not the adoption of NGEU and the MFF 2021–2027 is likely to represent a critical juncture for the MLG and to what extent both regulations modify objectives and instruments of cohesion policy.

On measuring axiom violations due to each tax instrument applied in a real-world personal income tax

In their seminal paper, Kakwani and Lambert (Eur J Polit Econ 14:369–380, 1998) state three Axioms an equitable tax system should respect. By proposing a measurement system based on re-ranking indexes of taxes, tax rates and post-tax incomes, they show how to evaluate the negative influences that Axiom violations exert on the redistributive effect of a tax. By considering each element of a real-world personal income tax, i.e. deductions and tax credits as well as statutory tax rates, in this study we take a theoretical step further by decomposing the magnitude of the three Axiom violations produced by all these tax elements. We propose two complementary strategies. The first one is a ‘stepwise’ decomposition computing the effect of each element of the tax on the redistributive effect when they are sequentially applied; the second strategy is an ‘overall and simultaneous’ decomposition always evaluating the effect of small changes in deductions, tax rates and tax credits with respect to the pre-tax income distribution, once all the three tax instruments have been simultaneously applied. These strategies can be more suitable and effective in measuring the loss of the redistributive effect produced by each tax element because of axiom violations. We also show that they can give different information on the existing inequities of the tax. We finally emphasize the goodness of our approach by applying it to a real world personal income tax.

Effects of Stone-Wales defects on structure and electrical properties of double-walled silicon nanotubes by SCC-DFTB method

In this work, the geometric structure, system stability, electrical properties and charge distribution of zigzag double-walled silicon nanotubes (DWSiNTs) (nin,0)@(nout,0) (nin = 5–7, nout = 8–13) perfect tubes and defective tubes with three types of Stone-Wales (SW) defects were studied using the self-consistent charge density functional tight-binding (SCC-DFTB) method. The change of the chirality index between the inner and outer walls was simulated. The results show that the symmetry of the structure disappears, and the warping of the tube wall changes from order to disorder after introducing SW defects. The warps of outer tube are obviously higher than that of inner tube. The perfect tubes with inner wall chirality index (6,0) are more stable than other tubes. SW defects of outer wall tubes have a higher effect on system stability than those of inner wall tubes. The difference of inner and outer wall chirality indices plays an obvious role in regulating the energy gap of the system, half of which are near-metal properties and the other half semiconductor properties, and the regulation range is 0.1075–0.8519 eV. All types of SW defects at all locations have a certain regulatory effect on the energy gap of DWSiNTs, and the effect of type III defect is the most obvious. The effect of atomic charge redistribution in the tube is related to the structure, and the charge transfer in a perfect tube is symmetrical. The number of electrons obtained at the defect is increased, and the electronegativity is stronger, due to the curvature of local atoms produced at the defect. This study provides a reference for the preparation and future application of DWSiNTs.

Significantly improved interfacial mechanical properties in boron nitride nanosheet/Ti composite via nano-configuration: A molecular dynamics study

Boron nitride nanosheets (BNNSs) reinforced titanium (Ti) matrix composites possess a combination of high strength and ductility due to the in-situ synthesized nano-configurations consisting of BNNSs, titanium boride (TiB) and titanium diboride (TiB2). The mechanisms for the outstanding properties, however, are yet fully unraveled. In this study, BNNSs/Ti composites with various nano-configurations are investigated by molecular dynamics (MD) simulation. Results show that the tensile strength and ductility of the composites increase with the number and length of titanium borides (TiBx). The excellent ductility is attributed to the crack-blocking and internal stress redistribution effects of the well-bonded TiBx nanophases. The strength enhancement mainly arises from the improved dislocation strengthening and load-transfer efficiency brought by the nano-interlocking structure. This work can benefit the optimization of BNNSs/Ti composites for fulfilling the strengthening and toughening potential of BNNS.

Current redistribution model of anomalous resistance behaviour in superconductor-topological insulator heterostructures

Superconductor-topological insulator (TI) heterostructures are interesting due to induced p-wave superconductivity on the TI surface states near the interface. Transport studies carried out in this work on the TI surface of superconductor-TI (NbN-Bi1.95Sb0.05Se3) heterostructures have revealed anomalous resistance upturn and downturn at millimetre length scales away from the interface. Magnetotransport measurements have indicated that the anomaly is caused due to the superconducting transition of the NbN layer. The strength of the jump in resistance has been found to be strongest at the edges and the sign of the jump found to be opposite along opposite edges. Such resistance upturns and downturns have been previously reported in literature, wherein the upturns have been attributed to the antagonistic ground states of p-wave Cooper pairing and the spin-polarized TI states, and the downturns attributed to induced long-range proximity effects. However, the possibility of long-range superconducting proximity effect has been ruled out in this study through the observation of similar anomaly in NbN-Au and NbN-Al heterostructures. The present study demonstrates that the anomalies in resistance occur due to current redistribution (CRD) effects at the superconducting transition due to the geometry of the heterostructure. Results obtained from finite element analysis using COMSOL software have validated the proposed CRD model of long-range resistance anomalies in superconductor-TI and superconductor-metal heterostructures.

Economic Globalization, Democratization, and Income Inequality

In the last 40 years, East Asian countries have undergone significant economic and political transformation, with deepening integration into the world economy and substantial progress toward democracy. I investigate the impact of these two major developments on income distribution in East Asia. This study extends prior research by (1) examining the role of both international economic and domestic political factors, topics that have mostly been studied separately; (2) employing inequality data that are more complete than those used in previous studies; and (3) using data for a period during which the pace of globalization greatly accelerated, a major relevant event (the Asian financial crisis) occurred, and several countries in the region witnessed a considerable expansion of democratic rights. Evidence for the claim that trade increases inequality is robust, but empirical support for the redistributive effects of both foreign direct investment and democracy is weak.

Cu-Doped WS2/Ni3S2 Coral-Like Heterojunction Grown on Ni Foam as an Electrocatalyst for Alkaline Oxygen Evolution Reaction

Finding an efficient and stable non-noble-metal catalyst for oxygen evolution reaction (OER) in alkaline environments is of great significance for reducing the cost of the catalyst. In this work, we doped Cu to the surface of WS2/Ni3S2 coral-like heterojunction grown on Ni foam substrate by physical deposition, which can promote the transfer of interface charge. An excellent OER catalytic performance with an overpotential as low as 281 mV at a current density of 100 mA·cm−2 is reached. At the same time, the attenuation of the sample is not significant after the durability test for 20 h in a current density of 100 mA·cm−2. Theoretical calculations and experimental results show that the synergistic effect of interfacial charge redistribution through the Cu-doped WS2/Ni3S2 heterojunction accelerates the process of alkaline OER reaction. This study provides a novel idea for the synthesis of non-noble metal alkaline OER catalysts.

Labor share as an "automatic stabilizer" of income inequality

We provide a new and unexplored explanation of the relationship between the functional and personal distribution of income. By proposing a simple theoretical framework, we show that, in the noncomprehensive personal income tax (PIT) hypothesis (i.e., when some or all capital income items are excluded from the PIT base), the correlation between disposable and market income inequality depends on the labor share level, which may influence the overall effectiveness of the tax-benefit system in addition to the PIT progressivity. We test our hypothesis using panel data on 33 OECD countries from 2000 to 2017 and find that a 10-pp increase in labor share is related to a 0.06 reduction in the correlation between market and disposable income inequality. This significant result obtained after controlling for country and year fixed effects, country-specific linear trends, and several confounders capturing the characteristics of the tax-benefit system suggests that labor share may act as an "automatic stabilizer" of market income inequality. Relevant implications for tax policy concern the role of the PIT's base for the public budget's overall redistributive effect.

Development of railway station plazas: Impact on land prices of surrounding areas

Improvement in the built environment is an essential component of transit-oriented development; however, the economic effects of such investments have not yet been fully understood because their investigation requires a suitable empirical case. Using the decentralized development of station plazas, this study identified the conditions under which plaza development raises the economic value of the surrounding areas. We empirically analyzed the impact of station plaza development on the land prices of 3870 properties in the surrounding areas at 181 of the 1556 stations in the Tokyo Metropolitan Area from 2000 to 2010, where station plazas were developed for the revitalization of station areas in a mature urban economy. Mahalanobis distance matching was applied to obtain the treatment effect, and the heterogeneity in the effects on the land price of properties by land-use pattern and geographical location was analyzed. The results showed that the properties benefited from station plaza development depending on the accessibility to and from the nearest station and the Tokyo Station (the central station) and their land-use patterns. The study found that there could be a redistributive effect in that the plaza development had positive effects on land price changes around the stations and negative effects in places far from the stations.

Counterfactual Assessment in the Design of Tax Reforms: Model Decomposition of Revenue and Redistribution Effects.

In this paper, we propose a methodology for the evaluation of tax reforms through the design of counterfactual scenarios using Euromod. For this purpose, we develop two theorical model decompositions to explain the differences in tax revenue collection and the redistributive impact. We provide empirical evidence by designing a tax reform in Spain based on the French personal income tax. The approach can explain the isolated causes of differences based on the contribution of the tax system design and the income distribution. This result could help determining whether policy recommendations should focus on pre-distribution or redistribution.

Eingebaute Solidarität: „Starke Schultern“ finanzieren Entlastungen in Krisenzeiten

Abstract In times of exceptionally severe crises, it may be necessary for the state, in the spirit of solidarity, to cushion the financial burdens borne by lower-income households. To do so, it might be necessary to use discretionary policies in addition to automatic stabilizers. High inflation caused by the Russian war of aggression on Ukraine is one such crisis. Since the state has no financial resources of its own, it can only do so - apart from stretching the burden over time - through increased redistribution from upper to lower incomes. What are the effects of this additional government redistribution along the income distribution when considering not only the expenditures for the discretionary relief packages, but also the revenues used for this purpose - which can only be quantified via economic modeling?

Manipulating the d-band center enhances photoreduction of CO2 to CO in Zn2GeO4 nanorods

Enabling catalysts to be highly active for CO2 activation is a crucial priority in photocatalytic CO2 reduction, but extremely challenging. To achieve this, significant electronic modulations based on the atomic-level knowledge of the operational catalytic site are necessary. Herein, a d-band center tuning strategy is proposed to promote the photocatalytic CO2 activation. In a model system taking Zn2GeO4 as photocatalysts, Mn dopants and oxygen vacancies (Vo) were engineered in Zn2GeO4 nanorods (denoted as Mn-ZGO-Vo) to collectively uplift the d-band centers, induced by the ligand and electron redistribution effects. This leads to a strong interaction between the CO2 molecules and Mn-ZGO-Vo, which weakens the C = O bonds for breaking. Temperature-dependent experiments and theoretical calculations reveal that Mn-ZGO-Vo exhibits a low energy barrier of CO2 photoreduction to CO, thereby significantly accelerating the rate-determining step, *COOH formation. Our optimal Mn-ZGO-Vo catalysts, without cocatalyst and sacrificing reagent, demonstrate a high selectivity of 82.9% for photoreducing CO2 to CO, with a CO yield of up to 40.02 μmol g-1h−1, which is nearly 8 times higher compared to pristine Zn2GeO4. Overall, this work not only demonstrates an effective strategy for promoting photocatalytic CO2 adsorption/activation/reduction, but also enriches the application of the d-band tuning concept in the field of photocatalysis.

Deep learning-based bridge damage identification approach inspired by internal force redistribution effects

Damage identification has always been one of the core functions of bridge structural health monitoring (SHM) systems. Damage identification techniques based on deep learning (DL) approaches have shown great promise recently. However, DL methods still need to be improved owing to their poor interpretability and generalization performance. The fundamental reason lies in the separation between physics-based mechanical principles and data-driven DL methods. To address this issue, this paper proposes a physics-inspired approach combining the data-driven method and the internal force redistribution effects to perform efficient damage identification. Firstly, the mechanical derivation of internal force redistribution is given based on a simplified three-span continuous bridge. Then, two types of typical damage scenarios including segment stiffness decrease and prestress loss are simulated to formulate the damage dataset with monitored field data noise added. Next, a modified Transformer model with multi-dimensional output is trained to obtain the complex dynamic spatiotemporal mapping among multiple measurement points from the intact structure as a benchmark model. Finally, the relationship between multiple damage patterns and the corresponding output regression residual distribution is studied, based on which the flexible combinations of the sensors are proposed as the test set to characterize the internal force redistribution due to damage. Validation on the extended dataset showed that this approach is effective to realize preliminary identification of damage patterns and resist interference from noise at the monitoring site.