Economics: Research Guide

The motivations for this case study are recent developments in the U.S. broiler chicken industry involving allegations of an illegal exercise of buyer market power by the five largest broiler chicken processors in the country in the market for broiler grow-out services. This case study introduces economic, business, and legal issues related to the alleged input price-fixing cartel of the five largest broiler processors. The case study describes the broiler processors’ conduct and presents a theoretical framework that may explain market and price effects of the alleged input price-fixing cartel. In addition, the case study introduces a comprehensive analysis of a sample broiler production a..

The war in Ukraine and the associated 2022 energy crisis has had far-reaching effects with seaborne prices for coal and gas reaching multiples (5-6x) of their historic averages. While Europe was the epicentre, countries as far away as Australia were impacted. As a major exporter of coal and gas, domestic markets are linked to seaborne prices. Consequently, forward prices for 2023 delivery in Australia’s National Electricity Market surged from ~$48 in 2021 to $156/MWh in 2022 at one point peaking at $247/MWh. Household electricity tariffs were set to in-crease by 11% in 2023 and 35% in 2024. In late-2022, the Commonwealth Government intervened by setting fuel price caps of $125/t and $..

This reports aims to assist the Sino-Australian bilateral relationship adapt to meet China’s new policies and to facilitate a smoother transition to a low carbon future. Southwest University of Finance and Economics (SWUFE), Chengdu, China and the University of Queensland, Brisbane, Australia held a workshop at SWUFE to develop a guide to China’s low-carbon policies and their implications for the Sino-Australian energy trade and sectors. This report results from the workshop. Chapter 3 contains the guide to China’s low emission policies and discusses market-based experiments within China’s command-and-control electricity sector. Chapter 4 discuses Australia’s poorly implemented neo..

We study the long-run effect on productivity of labor reallocation during a technology boom. Using French matched employer-employee data, we examine the large cohort of workers who enter the information and communication technology sector during the late 1990s boom. Despite starting with 5% higher wages, these workers experience lower wage growth and end up with 6% lower wages fifteen years out, relative to similar workers who started in other sectors. The long-run wage discount is concentrated on STEM occupations, consistent with a skill obsolescence mechanism. Other moments of the wage distribution are inconsistent with selectioneffects and negative demand shocks.

The Federal Reserve Bank of Cleveland regularly surveys a broad cross-section of businesses in the region it serves and convenes business advisory councils in eight of the region’s major metropolitan areas. The information collected through these surveys and conversations points to trends that are not yet apparent in the data and fills gaps in researchers’ understanding of our region’s economy. The information is helpful to Federal Reserve policymakers during their discussions about the nation’s monetary policy. Anecdotes herein have been edited for length and clarity.

Due to surges in gas and electricity prices in Europe, many households will struggle to heat their homes this winter. This paper provides high-level guidance on designing a relief policy in a way that optimally trades off equity and efficiency. We argue that, contrary to conventional economic intuitions, an optimal policy may involve directly controlling prices. Because governments do not have perfect information about households' needs, price controls could improve the targeting of relief through screening out the most vulnerable by offering them discounts for reducing consumption. This could be achieved by “threshold price caps" that lower the price of all energy units below some con..

Percent Change, Annual, Not Seasonally Adjusted

Percent Change, Annual, Not Seasonally Adjusted

Percent of Fiscal Year GDP, Annual, Not Seasonally Adjusted

Percent of Fiscal Year GDP, Annual, Not Seasonally Adjusted

Percent of Fiscal Year GDP, Annual, Not Seasonally Adjusted

In recent years, the Indian e-waste sector has undergone a process of formalisation through the implementation of E-waste Management Rules (2016), leading to the creation of what I call recycling regime. The upper and middle classes, along with NGOs and industry actors, are frontrunners in thinking about e-waste policies. They were prompted by a twofold motive: the desire for a “world-class”, clean, and pollution-free city; and seizing business opportunities by extracting value from e-waste. Rather than replacing the State, they co-opted the State so that it would legislate to safeguard the environment, and address toxicity and health problems associated with e-waste. Recycling regime re..

We develop a framework for quantifying delay propagation in airline networks that combines structural modeling and machine learning methods together to estimate causal objects of interest. Using a large comprehensive data set on actual delays and a model-selection algorithm (elastic net) we estimate a weighted directed graph of delay propagation for each major airline in the US and derive conditions under which the estimates of the propagation coefficients are causal. We use these estimates to decompose the airline performance into “luck” and “ability.” We find that luck may explain about 38% of the performance difference between Delta and American in our data. We further use these e..

We develop a framework for quantifying delay propagation in airline networks that combines structural modeling and machine learning methods together to estimate causal objects of interest. Using a large comprehensive data set on actual delays and a model-selection algorithm (elastic net) we estimate a weighted directed graph of delay propagation for each major airline in the US and derive conditions under which the estimates of the propagation coefficients are causal. We use these estimates to decompose the airline performance into “luck” and “ability.” We find that luck may explain about 38% of the performance difference between Delta and American in our data. We further use these e..

Electric vehicle (EV) sales have slowed down worldwide since 2023, and this trend has continued throughout 2024, fueling concerns that EV demand has plateaued. Yet, this slowdown seems limited specifically to battery electric vehicles (BEVs), as sales of plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs) are surging. This suggests that the overall march toward electrification is proceeding, but may be taking a more circuitous route. In South Korea, HEV sales have been growing rapidly as PHEV sales remain flat and BEV sales crash. This leaves the Korean EV market far more vulnerable to a reverse pivot to internal combustion engine (ICE) vehicles than its global count..

Electric vehicle (EV) sales have slowed down worldwide since 2023, and this trend has continued throughout 2024, fueling concerns that EV demand has plateaued. Yet, this slowdown seems limited specifically to battery electric vehicles (BEVs), as sales of plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs) are surging. This suggests that the overall march toward electrification is proceeding, but may be taking a more circuitous route. In South Korea, HEV sales have been growing rapidly as PHEV sales remain flat and BEV sales crash. This leaves the Korean EV market far more vulnerable to a reverse pivot to internal combustion engine (ICE) vehicles than its global count..

This article examines the links between accounting tools, affects and neoliberalism. To explain how accounting tools participate in the affective life of neoliberalism, we conducted longitudinal qualitative research on the health and social care sector in Quebec and examined the links between accounting tools and affects in a context of a neoliberal reform. We use the concept of atmosphere -collective affects present in a given space- to address the collective and spatial dimensions of affects linked to accounting tools. Our study shows that the omnipresence of accounting tools in spaces nurtures the atmosphere of measurement presented here. In this atmosphere, tools are viewed as consumable..

This study examines the relationship between women directors and the cost of equity (COE). Investigating the French firm's sample, we find a significant negative effect of women directors on the cost of equity. Our results also document that the effect of women directors on reducing the cost of equity is significant for firms that have a critical mass of at least four women directors. Using the difference-in-difference (DID) and propensity score matching (PSM) approach, we find that the relationship between female directors and lower equity costs is significant for the period following the Copé–Zimmermann gender quota law. The results show that women directors' presence on corporate board..

Motivated by the increasingly common technology for collecting data, like cellphones, smartwatches, etc, functional data analysis has been intensively studied in recent decades, and along with it, functional regression models. However, the majority of functional data methods in general and functional regression models, in particular, are based on the fact that the observed datapresent the same domain. When the data have variable domain it needs to be aligned or registered in order to be fitted with the usual modeling techniques adding computational burden. To avoid this, a model that contemplates the variable domain features of the data is needed, but this type of models are scarce and its e..

This paper addresses a neglected aspect of the UK housing crisis: how to rapidly but fairly decarbonise the housing stock to meet tough net zero targets while meeting housing needs of the entire population. To do so the authors adopt a radical approach based on sufficiency. The sufficiency approach is based on determining both a housing floor – a decent minimum standard for all – and a housing ceiling - above which lies unsustainable excess. The authors define these thresholds in terms of bedrooms and floorspace and analyse the distribution of housing in England. They find that excess housing is widespread, concentrated in home ownership, particularly outright ownership, and characterise..

The global rise in mental disorders presents new challenges for tourism, an industry inadequately prepared to accommodate tourists with such conditions. Despite increasing scholarly interest in recent years, the study of tourists with mental disorders remains fragmented and underdeveloped. This work critically reviews 38 academic papers on this focal subject, published from 2004 to 2024, employing systematic narrative analysis. It identifies ten themes that map out the existing research across three stakeholder groups: tourists and caregivers, tourism providers, and governments and third parties. The literature synthesis offers an insightful and comprehensive overview of the current state of..

The global rise in mental disorders presents new challenges for tourism, an industry inadequately prepared to accommodate tourists with such conditions. Despite increasing scholarly interest in recent years, the study of tourists with mental disorders remains fragmented and underdeveloped. This work critically reviews 38 academic papers on this focal subject, published from 2004 to 2024, employing systematic narrative analysis. It identifies ten themes that map out the existing research across three stakeholder groups: tourists and caregivers, tourism providers, and governments and third parties. The literature synthesis offers an insightful and comprehensive overview of the current state of..

If air pollution harms innovation — and therefore future productivity — existing assessments of its economic cost are incomplete. We estimate the effect of fine particulate matter concentration on inventive output in 977 European regions. Exploiting thermal inversions and weather-induced ventilation of pollutants for identification, we find that a decrease in air pollution equivalent to the average yearly drop in Europe leads to 1.2% more patented inventions in a given region. A back-of-the-envelope calculation suggests that accounting for the effect on innovation increases the economic cost of air pollution as assessed in prior work by about three quarters.

If air pollution harms innovation — and therefore future productivity — existing assessments of its economic cost are incomplete. We estimate the effect of fine particulate matter concentration on inventive output in 977 European regions. Exploiting thermal inversions and weather-induced ventilation of pollutants for identification, we find that a decrease in air pollution equivalent to the average yearly drop in Europe leads to 1.2% more patented inventions in a given region. A back-of-the-envelope calculation suggests that accounting for the effect on innovation increases the economic cost of air pollution as assessed in prior work by about three quarters.

Numerous Low Emission Zones (LEZs) have been implemented across Europe to improve air quality and reduce car use. However, to date, the impact of LEZs has been widely perceived as regressive, since vehicles that meet the low emission requirements are more expensive than others. The literature assessing the impact of LEZs on vulnerable and poor households prior to their implementation is sparse, particularly if we take into account the diversity of households' capacities to adapt according to their characteristics and mobility habits, beyond the sole solution of purchasing a LEZ-compatible vehicle. However, such assessments would make it possible to define accompanying policies to improve the..

Numerous Low Emission Zones (LEZs) have been implemented across Europe to improve air quality and reduce car use. However, to date, the impact of LEZs has been widely perceived as regressive, since vehicles that meet the low emission requirements are more expensive than others. The literature assessing the impact of LEZs on vulnerable and poor households prior to their implementation is sparse, particularly if we take into account the diversity of households' capacities to adapt according to their characteristics and mobility habits, beyond the sole solution of purchasing a LEZ-compatible vehicle. However, such assessments would make it possible to define accompanying policies to improve the..

Numerous Low Emission Zones (LEZs) have been implemented across Europe to improve air quality and reduce car use. However, to date, the impact of LEZs has been widely perceived as regressive, since vehicles that meet the low emission requirements are more expensive than others. The literature assessing the impact of LEZs on vulnerable and poor households prior to their implementation is sparse, particularly if we take into account the diversity of households' capacities to adapt according to their characteristics and mobility habits, beyond the sole solution of purchasing a LEZ-compatible vehicle. However, such assessments would make it possible to define accompanying policies to improve the..