Time-fixed Effects Research Articles

Running on empty: a longitudinal global study of psychological well-being among runners during the COVID-19 pandemic

ObjectivesThere are indications that the COVID-19 pandemic has had a profound negative effect on psychological well-being. Here, we investigated this hypothesis using longitudinal data from a large global cohort of...

IDENTIFIKASI FAKTOR YANG MEMENGARUHI GINI RATIO DI INDONESIA

Inequality in income distribution is one of the problems that are often experienced by some countries in the world. Income inequality in Indonesia is measured by an indicator named Gini Ratio. BPS Indonesia noted that in March 2021, the Gini Ratio in Indonesia was 0,384. This figure shows that Indonesia belongs to the category of moderate income inequality, which means that income in Indonesia is not well distributed or there is an inequality in income distribution. For this reason, the inequality that occurs needs to be decreased by recognizing the factors that affect it. The purpose of this study was to determine the factors that significantly affect the Indonesia’s Gini Ratio in 2016-2020 by applying panel data regression. The results show that the model chosen to represent the Indonesia’s Gini Ratio in 2016-2020 is a fixed time effect model with of 40,282%, which is significantly be affected by the human development index, population, open unemployment rate, percentage of poor people, and average hourly wage for worker.

How does uncertainty affect corporate investment inefficiency? Evidence from Europe

We conduct a cross-country, firm-based analysis of the impact of uncertainty (World Uncertaınty Index–WUI) on corporate investment inefficiency. The analysis, conducted in the period 2012–2020 across 30 European region countries, demonstrates a negative impact of uncertainty on the absolute value of investment inefficiency. Specifically, there is a negative effect of uncertainty on investment inefficiency in cases of overinvestment, and a positive effect of uncertainty on investment inefficiency in cases of underinvestment. Thus, in both abnormal investment scenarios, uncertainty alleviates the investment inefficiency – namely, uncertainty may optimize investment decisions. The findings are robust to country, industry, and time fixed-effects; GMM; and different legal systems. Moreover, the findings shed important light on the exogenous uncertainty effect on asymmetric information and agency, generating investment decisions.

How Does an Authoritarian State Co-opt Its Social Scientists Studying Civil Society?

What channels can an authoritarian state employ to steer social science research towards topics preferred by the regime? I researched the Chinese coauthor network of civil society studies, examining 14,088 researchers and their peer-reviewed journal articles published between 1998 and 2018. Models with individual and time fixed-effects reveal that scholars at the center of the network closely follow the narratives of the state’s policy plans and could serve as effective state agents. However, those academics who connect different intellectual communities tend to pursue novel ideas deviating from the official narratives. Funding is an ineffective direct means for co-opting individual scholars, possibly because it is routed through institutions. Combining these findings, this study proposes a preliminary formation of authoritarian knowledge regime that consists of (1) the state’s official narrative, (2) institutionalized state sponsorship, (3) co-opted intellectuals centrally embedded in scholarly networks, and (4) intellectual brokers as sources of novel ideas.

Association of Extreme Heat and Cardiovascular Mortality in the United States: A County-Level Longitudinal Analysis From 2008 to 2017.

Extreme-heat events are increasing as a result of climate change. Prior studies, typically limited to urban settings, suggest an association between extreme heat and cardiovascular mortality. However, the extent of the burden of cardiovascular deaths associated with extreme heat across the United States and in different age, sex, or race and ethnicity subgroups is unclear. County-level daily maximum heat index levels for all counties in the contiguous United States in summer months (May-September) and monthly cardiovascular mortality rates for adults ≥20 years of age were obtained. For each county, an extreme-heat day was identified if the maximum heat index was ≥90 °F (32.2 °C) and in the 99th percentile of the maximum heat index in the baseline period (1979-2007) for that day. Spatial empirical Bayes smoothed monthly cardiovascular mortality rates from 2008 to 2017 were the primary outcome. A Poisson fixed-effects regression model was estimated with the monthly number of extreme-heat days as the independent variable of interest. The model included time-fixed effects and time-varying environmental, economic, demographic, and health care-related variables. Across 3108 counties, from 2008 to 2017, each additional extreme-heat day was associated with a 0.12% (95% CI, 0.04%-0.21%; P=0.004) higher monthly cardiovascular mortality rate. Extreme heat was associated with an estimated 5958 (95% CI, 1847-10 069) additional deaths resulting from cardiovascular disease over the study period. In subgroup analyses, extreme heat was associated with a greater relative increase in mortality rates among men compared with women (0.20% [95% CI, 0.07%-0.33%]) and non-Hispanic Black compared with non-Hispanic White adults (0.19% [95% CI, 0.01%-0.37%]). There was a greater absolute increase among elderly adults compared with nonelderly adults (16.6 [95% CI, 14.6-31.8] additional deaths per 10 million individuals per month). Extreme-heat days were associated with higher adult cardiovascular mortality rates in the contiguous United States between 2008 and 2017. This association was heterogeneous among age, sex, race, and ethnicity subgroups. As extreme-heat events increase, the burden of cardiovascular mortality may continue to increase, and the disparities between demographic subgroups may widen.

Advancement of Generalized Method of Moment Estimation (GMM) For Spatial Dynamic Panel Simultaneous Equations Models with Fixed Time Effect

This research paper aims to form and estimate the spatial dynamic panel simultaneous equations models (SDPS) with fixed time effect that potentially have heteroscedasticity cases. The model formed with the individual effect is not eliminated but placed in the error model to accommodate cases of heteroscedasticity in the model. GMM with two stages least square (2SLS) method for the single equation is deliberately chosen as the estimation method for the SDPS model because it can eliminate heterogeneity cases in the model. The effectiveness of the estimate is seen based on the value of RMSE (Root Mean Square Error), mean and standard deviation (SD) of bias estimate by simulating Monte Carlo 100 times with different parameter pairs and different pairs N and T can also be concluded that parameter scenario changes do not give much effect on the mean bias value and SD bias. The SDPS model shows that the consistency of the estimated parameter values can be achieved easily if the number of T is added. Changes in the number of N and T indicate that the greater the N and T, the smaller RMSE value tends to be.

ORTA-BÜYÜK ÖLÇEKLİ MEVDUAT BANKALARINDA KREDİ RİSKİNİN AKTİF KARLILIĞINA ETKİSİ-TÜRKİYE ÖRNEĞİ

Çalışmanın amacı, kredi riskinin banka karlılığı üzerindeki etkisini incelemektir. 2009-2020 dönemi için orta-büyük ölçek grubunda yer alan 13 banka örnekleminin kullanıldığı çalışmada, ampirik modelin tahmini için sabit zaman etki modeli ile panel veri analizi yapılmıştır. Kredi riskinin ölçüsü olarak takipteki krediler ve banka performansının göstergesi olarak aktif karlılığı kullanılmıştır. Ayrıca, sermaye yeterliliği, bilanço yapısı, gelir-gider yapısı ve likidite yapısına ilişkin kontrol değişkenleri modele eklenmiştir. Çalışma bulguları, literatürle uyumlu olarak kredi riskinin banka karlılığı üzerinde negatif yönlü etkisi olduğunu ortaya koymaktadır. 2020 pandemi etkisi taşıyan finansal tablo verilerine göre yapılan bu çalışma, Türkiye’deki mevduat bankaları için kredi riskinin aktif karlılığı üzerindeki negatif yönlü etkisinin, 2008 küresel kriz ve 2018 kur krizi verileri ile yapılan çalışma sonuçları ile farklılaşmadığını göstermektedir.

Inward FDI, IFRS Adoption and Institutional Quality: Insights from the MENA Countries

The adoption of International Financial Reporting Standards (IFRS) by 166 countries since 2004 has been a major achievement in the international standardization of accounting regulations. The present paper draws on the Eclectic Paradigm as the analytical framework to investigate the effects of IFRS adoption on foreign direct investment (FDI) inflows. The analysis is conducted based on panel data from 22 Middle Eastern and North African economies (MENA) between 1996 and 2019. The findings indicate that FDI inflows are positively associated with IFRS, and countries implementing the accounting standards receive a higher increase in FDI inflows. Furthermore, the results show that institutional quality plays an important role in attracting FDI. These results remain robust using lag and time-fixed effect estimation methods. The findings have several implications for policymakers.

Higher Electronic Health Record Functionality Is Associated with Lower Operating Costs in Urban-but Not Rural-Hospitals.

Objectives The aim of the study is to examine the relationship between electronic health record (EHR) use/functionality and hospital operating costs (divided into five subcategories), and to compare the results across rural and urban facilities. Methods We match hospital-level data on EHR use/functionality with operating costs and facility characteristics to perform linear regressions with hospital- and time-fixed effects on a panel of 1,596 U.S. hospitals observed annually from 2016 to 2019. Our dependent variables are the logs of the various hospital operating cost categories, and alternative metrics for EHR use/functionality serve as the primary independent variables of interest. Data on EHR use/functionality are retrieved from the American Hospital Association's (AHA) Annual Survey of Hospitals Information Technology (IT) Supplement, and hospital operating cost and characteristic data are retrieved from the American Hospital Directory. We include only hospitals classified as “general medical and surgical,” removing specialty hospitals. Results Our results suggest, first, that increasing levels of EHR functionality are associated with hospital operating cost reductions. Second, that these significant cost reductions are exclusively seen in urban hospitals, with the associated coefficient suggesting cost savings of 0.14% for each additional EHR function. Third, that urban EHR-related cost reductions are driven by general/ancillary and outpatient costs. Finally, that a wide variety of EHR functions are associated with cost reductions for urban facilities, while no EHR function is associated with significant cost reductions in rural locations. Conclusion Increasing EHR functionality is associated with significant hospital operating cost reductions in urban locations. These results do not hold across geographies, and policies to promote greater EHR functionality in rural hospitals will likely not lead to short-term cost reductions.

Regional Differences and Influencing Factors of Carbon Emission Efficiency in the Yangtze River Economic Belt

This paper attempts to measure the carbon emission efficiency of the Yangtze River Economic Belt, which has nine provinces and two cities, by analyzing the panel data of the economic belt from 2010 to 2019. Firstly, we used a three-stage DEA (data envelopment analysis) model to eliminate the influence of environmental factors and random noise and measured the carbon emission of the Yangtze River Economic Belt. Secondly, we used a spatially lagged time-fixed effects model to conduct an in-depth analysis of the factors affecting carbon emissions efficiency in the Yangtze River Economic Zone. The study shows that: (1) There is a significant positive spatial correlation related to the carbon emission efficiency of the Yangtze River Economic Zone. (2) There is a significant regional variability in carbon emission efficiency, and scale efficiency is the primary constraint on its improvement. (3) The higher the share of coal energy, the higher the level of urbanization, and the higher the population density, the less conducive to carbon efficiency. The more developed a region’s economy is, the more open it is to the outside world. The stronger its technological capabilities and ecological development, the higher the carbon emission value. (4) Carbon emission efficiency is influenced by a variety of factors, and each factor has a different influence on the carbon emission efficiency of the region and neighboring regions.

Emergency Medical Services Demand: An Analysis of County-Level Social Determinants.

Variations in the demand for Emergency Medical Services (EMS) exist when observed at a local level. This unspecified heterogeneity leads to an investigation of social factors contributing to EMS demand. Data for this study were collected from publicly available EMS reports from Florida and Oklahoma for 2009 - 2015. Health and social data were gathered from County health rankings and roadmap reports. Data were combined into a single dataset, and pooled ordinary-least-squares models with time-fixed effects were utilized for tests of inference. EMS call volume was log-transformed to derive a semi-elasticity function. A total of 874 county-year observations were analyzed. Increases in poor/fair health (95% CI: 0.6% - 3.9%), binge drinking (95% CI: 1.6% - 3.5%), teen birth rate (95% CI: 1.1% - 5.2%), unemployment rate (95% CI: 0.5% - 3.9%), and violent crime rate (95% CI: 1.0% - 3.0%) were associated with an increase in the EMS demand rate. The data supports the notion that some community measures have an effect on EMS demand as counties with higher levels of poor health, binge drinking, teen births, unemployment, and violent crime saw higher EMS demand. These factors may have been treated as spurious, or overlooked by policy makers and EMS leadership.

The Power of Women: Does increasing women's parliamentary representation reduce intake of sugar-sweetened beverages among children and adolescents?

Consumption of sugar-sweetened beverages (SSBs) is associated with overweight and obesity in children and adolescents. Although existing research confirms the significance of economic and social factors as determinants of SSB intake, comparative studies on political factors and cross-national analyses are lacking. Research indicates that including women in the process of political decision-making promotes healthcare and child protection. This study examined how women's parliamentary representation influences children's and adolescents' SSB intake compared to adults. The study used cross-national food and beverage intake data from the Global Dietary Database. The outcome measurement was SSB consumption (g/day) for different population groups. We modeled SSB intake as a function of age groups, women's parliamentary representation at the national level (the independent variable), regime types (the contextual factor), and import tariffs on SSBs (the mediator) using country and time fixed effects regression models. 185 countries across three waves from 2005 to 2015. Different population groups. The impact of female representation on reducing SSB consumption is more prevalent in children and adolescents than in adults. Furthermore, the effect of women's parliamentary representation on SSB consumption among children and adolescents is conditional on a country's democratic status. Finally, the marginal effect decreases when import tariffs on SSBs are considered a link in a causal chain. No changes in adult SSB intake are statistically significant. The findings suggest that the presence of women in the legislature can have a substantial impact on child and adolescent health.

Income and extratropical cyclones in New Zealand

Aotearoa New Zealand is highly vulnerable to extratropical cyclones because of its unique location in the midlatitude south pacific region. This study empirically investigates the impact of the extratropical cyclones on individual income, combining the data from Statistics New Zealand's Integrated Data Infrastructure (IDI) and the weather-related insurance claims data from the Earthquake Commission. Our sample covers the administrative longitudinal panel data of all the IRD registered individual taxpayers between 2010 and 2019. We estimate a set of panel regressions with individual and time-fixed effects to assess the impact of extratropical cyclones on the affected individual's annual income. We find that income from salaries and wages is negatively affected by the cyclones across various specifications. Extratropical cyclones also negatively affect the total individual income from wages and salaries, benefit and compensation, and sole tradership. However, we have limited success in identifying individual characteristics influencing the affected people's income level in our study.

Role of financial stability, technological innovation, and renewable energy in achieving sustainable development goals in BRICS countries.

Global warming is the buzzword these days, where researchersand policymakers are working hard to figure out its causes and how we can achieve sustainable development goals. Several research studies have been conducted to determine the key factors that influence environmental degradation. However, studies have ignored the role of financial institutions in achieving sustainable development goals. Therefore, the present study evaluates the influence of financial stability on consumption-based-carbon emission for BRICS countries in the presence of renewable energy, technological innovation, industry value-added, and international trade over the period of 1995 to 2018. This study has simulated its analyses by utilizing the spatial Durbin model through the spatial time-fixed effect technique due to the cross-border spillover effect. The results show that financial stability, technological innovation, economic growth, and imports contribute to consumption-based carbon emissions, whereas renewable energy and exports negatively influence consumption-based carbon emissions. In the case of cross-border spillover analysis, the study's findings revealed that only renewable energy has a positive spillover effect among the variables with a significant effect, whereas economic growth and bilateral export have a negative effect on consumption-based carbon emission.

The economic impacts of direct natural disaster exposure

We estimate the economic impacts of having your home damaged or destroyed by a natural disaster. Regressions with individual, area and time fixed-effects, indicate that experiencing a natural disaster has no impact on employment and income, but substantial impacts on financial hardship and risk aversion. Impacts are particularly large for smaller isolated disasters, which attract little government support. Conversely, impacts of residing in a disaster zone without experiencing residential destruction are small. Using a Group Fixed Effects estimator, we find predictors of financial vulnerability to destruction include age, parenthood, illness, and social support. These results can help improve the allocation of government assistance after future disasters.

Religiosity and political participation - Panel data evidence from post-communist Poland

Numerous contributions to the literature show that religious activities and civic participation are positively correlated. The available studies, however, are mostly based on cross-sectional data and thus rarely control for factors that simultaneously affect both variables. In this paper, using panel data on Poland, we check whether the relationship in question is robust to controlling for municipality-level fixed effects, time-fixed effects, and several time-varying factors. As a proxy for the level of religiosity we use data on religious observance, whereas as a proxy for civic participation we look at electoral turnout. Our results robustly show that municipalities with higher measures of church attendance exhibit higher voter turnout. This, in turn, gives some credence that the relationship between religious commitment and civic participation might be causal.

Конвергенция неравенства доходов в российских регионах

In this paper we test convergence of income inequality in Russia’s regions for the period 1995–2020. To do this, conditional and unconditional beta convergence models for the regional Gini index are evaluated on cross-sectional and panel data using time and spatial effects. Estimates of the models show that both conditional and unconditional convergence of income inequality takes place in Russia’s regions. It is shown that the rate of convergence varies significantly within the considered period: the levels of income inequality in the regions converged most strongly at the beginning of the period with a gradual slowdown in the rate of convergence in subsequent periods. This result may be related to the recovery growth and redistribution policy in the 2000s, as well as the consequences of the 2014 crisis. The use of the same initial characteristics, such as GRP per capita, level of education and population, accelerates convergence. Spatial effects are statistically significant for models of unconditional, but not conditional convergence, but do not affect the estimates obtained. When considering a panel data structure with the inclusion of fixed time effects, convergence estimates increase for both unconditional and conditional convergence

Economic growth and electricity consumption

Do countries consume more electricity as they become richer? This study uses an instrumental variables approach to investigate the connection between electricity consumption and economic growth. With panel data of 32 countries spanning the period of 1996-2014, two potential instruments, which are an oil price shock as the main focus and past saving rates, are used for estimation. Controlling for country and time-fixed effects, the estimation results show no evidence of unidirectional causality runs from national income to electricity consumption.

Spatiotemporal Evolution and Influencing Factors of Carbon Sink Dynamics at County Scale: A Case Study of Shaanxi Province, China.

To explore the spatiotemporal evolution of carbon sinks in Shaanxi Province, and their impact mechanisms, this study used panel data from 107 counties (districts) in Shaanxi Province from 2000 to 2017. First, we conducted spatial distribution directional analysis and exploratory spatial data analysis (ESDA). Then, we constructed a geographic spatial weight matrix and used the spatial panel Durbin model to analyze the driving factors of carbon sink changes in Shaanxi Province, from the perspective of spatial effects. The results showed that: (1) The temporal evolution of carbon sinks during the study period showed an overall upward trend, but the carbon sinks of counties (districts) differed greatly, and the center of gravity of carbon sinks, as a whole, showed the characteristics of “south to north” migration. (2) The carbon sinks of Shaanxi Province have a significant positive global spatial autocorrelation in geographic space. The local spatial pattern was characterized by low-value agglomeration (low-low cluster) and high-value agglomeration (high-high cluster), supplemented by high-value bulge (high-low outlier) and low-value collapse (low-high outlier). (3) The result of the spatial measurement model proved that the spatial Durbin model, with dual fixed effects of time and space, should be selected. In the model results, factors such as population, per capita gross domestic product (GDP), local government general budget expenditure, and local government general budget revenue all reflect strong spatial spillover effects. Accordingly, in the process of promoting “carbon neutrality”, the government needs to comprehensively consider the existence of spatial spillover effects between neighboring counties (districts), and strengthen the linkage-management and control roles of counties (districts) in increasing carbon sinks.

Disparities in Chronic Kidney Disease Progression by Medicare Advantage Enrollees

Introduction: The prevalence of chronic kidney disease (CKD) in Medicare beneficiaries has quadrupled in the past 2 decades, but little is known about risk factors affecting the progression of CKD. This study aims to understand the progression in Medicare Advantage enrollees and whether it differs by provider recognition of CKD, race and ethnicity, or geographic location. In a large cohort of Medicare Advantage (MA) enrollees, we examined whether CKD progression, up to 5 years after study entry, differed by demographic and clinical factors and identified additional risk factors of CKD progression. Methods: In a cohort of 1,002,388 MA enrollees with CKD stages 1–4 based on 2013–2018 labs, progression was estimated using a mixed-effects model that adjusted for demographics, geographic location, comorbidity, urine albumin-to-creatinine ratio, clinical recognition via diagnosed CKD, and time-fixed effects. Race and ethnicity, geographic location, and clinical recognition of CKD were interacted with time in 3 separate regression models. Results: Mean (median) follow-up was 3.1 (3.0) years. Black and Hispanic MA enrollees had greater kidney function at study entry than other beneficiaries, but their kidney function declined faster. MA enrollees with clinically recognized CKD had estimated glomerular filtration rate levels that were 18.6 units (95% confidence interval [CI]: 18.5–18.7) lower than levels of unrecognized patients, but kidney function declined more slowly in enrollees with clinical recognition. There were no differences in CKD progression by geography. After removal of the race coefficient from the eGFR equation in a sensitivity analysis, kidney function was much lower in all years among Black MA enrollees, but patterns of progression remained the same. Discussion/Conclusions: These results suggest that patients with clinically recognized CKD and racial and ethnic minorities merit closer surveillance and management to reduce their risk of faster progression.