Economics: Research Guide

Using large-scale high-granularity data from a food delivery platform and granular pollution and weather information, we study how PM2.5 fluctuations affect riders’ absenteeism, productivity, and accidents. Exploiting exogenous pollution variation from inverse boundary layer height, we find that higher pollution increases absenteeism for all workers and raises delivery times and accident rates only among (e-)bike riders, who must exert physical effort while working. Affected workers compensate productivity losses by working longer hours. Monetary incentives mitigate the effects on absenteeism but do not offset the decline in productivity and appear to exacerbate accident risk.

Using large-scale high-granularity data from a food delivery platform and granular pollution and weather information, we study how PM2.5 fluctuations affect riders’ absenteeism, productivity, and accidents. Exploiting exogenous pollution variation from inverse boundary layer height, we find that higher pollution increases absenteeism for all workers and raises delivery times and accident rates only among (e-)bike riders, who must exert physical effort while working. Affected workers compensate productivity losses by working longer hours. Monetary incentives mitigate the effects on absenteeism but do not offset the decline in productivity and appear to exacerbate accident risk.

In Open Veins of Latin America (1971), Eduardo Galeano argued that colonial interventions in Latin America organised the regional economy around raw material exports and drained the continent of valuable resources and labour, producing conditions of underdevelopment. Scholars have argued that this dynamic continues today, where the suppression of prices and input costs in peripheral regions enables the global North to appropriate resources and value through ‘unequal exchange’. Building on this analysis and grounded in the Marxist tradition of dependency theory, this study empirically assesses Latin America's position with respect to unequal exchange of natural resources and labour embodi..

This study investigates the domestic transmission of inflation by examining how price dynamics interact within the Consumer Price Index (CPI) in the US, the UK, and Japan over the period January 1988 (January 1993 for the US) to March 2025. Using a time-varying parameter vector autoregression (TVP-VAR) connectedness framework, we quantify the extent and evolution of inflation interdependencies across disaggregated price series. The results show that inflation is driven not only by external shocks and policy conditions but also by endogenous interactions within the price system. Inflation transmission remains moderate on average but intensifies during periods of elevated inflation, indicating..

The primary objective of this paper is to explore the determinants of the level of, and trends over time in, Japan's household saving rate, with emphasis on the impact of the age structure of the population, and to make projections about future trends therein. The paper finds that Japan's household saving rate has not always been high either absolutely or relative to other countries, contrary to popular belief, and that, if we confine ourselves to the postwar period, it was only during the 25-year period from 1961 to 1986 that it exceeded 15%. Past and future trends in Japan's household saving rate can largely be explained by changes in the age structure of her population, but declines in th..

The European Carbon Border Adjustment Mechanism (CBAM) has the dual objective of preventing carbon leakage and encouraging adoption of low-carbon technologies abroad. Yet, pursuing both objectives with the same mechanism results in incomplete carbon leakage protection unless global carbon prices converge. As the current geopolitical situation makes rapid convergence seem unlikely, an extension of free allowance allocation is being discussed for affected sectors. This would, however, mute most carbon pricing incentives and reduce carbon pricing revenues. This paper argues that until progress on global carbon pricing is reached, the CBAM should be reformed to use standardized values rather tha..

The status of temporary worker is unique. It involves a three-way relationship between an employee, an employer, and a user. Accidents are particularly prevalent for this type of employment and are slow to decrease. Our inquiry focuses on the causes of this prevalence. Drawing on fundamental knowledge, field experience, and a study in the construction sector, we demonstrate that specific prevention methods can be developed, tested, and then scaled up. These methods take into account the diversity of employment trajectories, user profiles, and employer profiles. This qualitative approach to prevention for temporary workers requires consolidating a common knowledge base for prevention stakehol..

Policies promoting green transportation, particularly cycling, are gaining importance in the context of climate change. In order to elucidate the mechanisms behind cycling adoption, this paper proposes a novel compartmental model, which incorporates the time-varying effects of both social influence and contextual factors. We provide a mathematical analysis of the model, showing global convergence to an equilibrium. We also developed a case study of Grenoble, France, which showcases the model's ability to characterize cycling adoption dynamics, highlighting its potential to support sustainable transportation policy design.

Policies promoting green transportation, particularly cycling, are gaining importance in the context of climate change. In order to elucidate the mechanisms behind cycling adoption, this paper proposes a novel compartmental model, which incorporates the time-varying effects of both social influence and contextual factors. We provide a mathematical analysis of the model, showing global convergence to an equilibrium. We also developed a case study of Grenoble, France, which showcases the model's ability to characterize cycling adoption dynamics, highlighting its potential to support sustainable transportation policy design.

The EU has set an objective of reaching 10% of landscape features on its agricultural land by 2030 as part of its latest Biodiversity Strategy. This share is often considered the minimum amount of semi-natural habitats required to halt biodiversity declines and ensure the provision of ecosystem services. This policy objective has faced considerable political opposition due to potentially high budgetary and opportunity costs. We explore farmers' preferences towards hypothetical incentive schemes that ensure the provision of 10% of semi-natural habitats at the landscape level. We use the results of a discrete choice experiment to estimate the total budgetary costs of different schemes and pote..

This paper studies how the distribution of preference intensity affects product survival. Consumers may have the same average valuation of a product attribute, yet differ sharply in how concentrated that valuation is across the population. I show that this distinction matters for market selection. In a differentiated-product economy with fixed operating costs, a product survives only if it attracts enough revenue to cover its fixed cost. When the revenue contribution of consumers is convex in preference intensity, concentrating a fixed aggregate valuation among fewer high-intensity consumers raises the revenue of high-attribute products. Thus, small groups of strongly attached consumers can ..

This study investigates the temporal and contextual stability of social risk preferences across health and wealth, focusing on both gains and losses. Using a large representative Dutch panel, we replicated the experimental design of Attema et al. (2023) which elicited social risk preferences through allocation decisions involving two anonymous recipients under risk. The design allows us to distinguish three dimensions of preferences: risk preferences, inequality aversion, and social risk preferences arising from trade-offs between risk and inequality, corresponding to utilitarian, ex-ante, and ex-post perspectives on social welfare. At the aggregate level, the main patterns documented in the..

This study investigates the temporal and contextual stability of social risk preferences across health and wealth, focusing on both gains and losses. Using a large representative Dutch panel, we replicated the experimental design of Attema et al. (2023) which elicited social risk preferences through allocation decisions involving two anonymous recipients under risk. The design allows us to distinguish three dimensions of preferences: risk preferences, inequality aversion, and social risk preferences arising from trade-offs between risk and inequality, corresponding to utilitarian, ex-ante, and ex-post perspectives on social welfare. At the aggregate level, the main patterns documented in the..

Across advanced economies, states are reasserting a more directive role in shaping markets. One prominent expression of this shift is the resurgence of industrial policy as a form of interventionist economic governance. This introduction develops a tripartite framework to analyze contemporary industrial policy in terms of goals, instruments, and authority structures—asking for what ends states intervene, through what means, and by and for whom. Applying this lens to Europe and the European Union (EU), the special issue shows how a polity long seen as the archetype of the regulatory state is increasingly departing from this model through a renewed embrace of industrial policy. We identify f..

Utility companies recover their capital costs through regulator-approved rates of return. Using a comprehensive database of utility rate cases, we find a significant premium for regulated returns on equity relative to several capital cost benchmarks. We show that firms decide strategically when to initiate new rate cases, such that regulated returns respond more quickly to increases in underlying capital cost benchmarks than to decreases. Higher regulated returns incentivize utilities to own more capital: a one percentage point rise in return on equity corresponds to an increase in capital assets of 2%–4%. Overall we find excess costs to U.S. consumers averaging $7 billion per year.

Across advanced economies, states are reasserting a more directive role in shaping markets. One prominent expression of this shift is the resurgence of industrial policy as a form of interventionist economic governance. This introduction develops a tripartite framework to analyze contemporary industrial policy in terms of goals, instruments, and authority structures—asking for what ends states intervene, through what means, and by and for whom. Applying this lens to Europe and the European Union (EU), the special issue shows how a polity long seen as the archetype of the regulatory state is increasingly departing from this model through a renewed embrace of industrial policy. We identify f..

Background Countries around the world worry about the financial sustainability of their health systems as populations age; however, few have considered the consequences of future gaps in health financing on the risk of financial hardship due to out-of-pocket payments. If countries are unable to raise sufficient revenues to meet health needs, people will pay more out-of-pocket to use health services and risk experiencing catastrophic or impoverishing health spending. Objective We aim to simulate the effect of health financing gaps due to changes in the population age-mix on the risk of financial hardship from out-of-pocket payments and to identify relevant policy mechanisms. Methods Using the..

Water-saving technologies contribute to mitigating the environmental impact of agriculture and raising farmers' incomes by reducing production input and enhancing crop quality. The promotion of water-saving technologies commonly requires government support and intervention. This study investigates two subsidy schemes: the dynamic scheme and commitment scheme, in terms of social welfare, supplier profits and farmer surplus. We develop an analytical model to analyze the interactions within an agricultural supply chain consisting of a government, a water-saving equipment supplier and heterogeneous farmers across two periods, taking social influence and technological advancement into considerati..

We investigate the macroeconomic effects of commodity price uncertainty by explicitly accounting for comovement across commodity markets. Using quarterly realized volatilities of major agricultural, metals, and energy commodity prices, we estimate a hierarchical dynamic factor model that decomposes uncertainty into a global component, common to all commodities, and group-specific components capturing sectoral uncertainty. The estimated uncertainty factors are then embedded into country-specific Structural VAR models to assess the dynamic macroeconomic responses to uncertainty shocks through impulse response functions. We focus in particular on business investment and exports across a panel o..

We investigate the macroeconomic effects of commodity price uncertainty by explicitly accounting for comovement across commodity markets. Using quarterly realized volatilities of major agricultural, metals, and energy commodity prices, we estimate a hierarchical dynamic factor model that decomposes uncertainty into a global component, common to all commodities, and group-specific components capturing sectoral uncertainty. The estimated uncertainty factors are then embedded into country-specific Structural VAR models to assess the dynamic macroeconomic responses to uncertainty shocks through impulse response functions. We focus in particular on business investment and exports across a panel o..

Hospital inflation reflects changes in prices of labour, materials, energy, and capital. Depending on actual cost structures and contracts, individual hospitals may experience different price pressures on their budgets. If hospitals are compensated uniformly for inflation, high inflation can induce significant disparities in profitability. To analyse the differential impact of inflation on hospitals in the Netherlands. We test the hypothesis that differences in hospital-specific inflationary pressures were reflected in hospital compensation for inflation. Under this hypothesis, hospital-specific inflation rates correlate with overall budget growth. Using hospital financial data, we calculate..

" Objective - As the global community accelerates its transition to sustainable energy systems to mitigate climate change, Nigeria faces the dual challenge of sustaining economic growth while reducing its dependence on oil. This study examines the role of natural gas as a transitional energy source in Nigeria's journey toward sustainable development, with an emphasis on strategic management, governance, and long-term policy alignment. Methodology - Employing a mixed-methods approach that integrates literature review, secondary data analysis, and semi-structured interviews with policymakers and industry experts, the research assesses the opportunities and constraints associated with natural g..

" Objective - As the global community accelerates its transition to sustainable energy systems to mitigate climate change, Nigeria faces the dual challenge of sustaining economic growth while reducing its dependence on oil. This study examines the role of natural gas as a transitional energy source in Nigeria's journey toward sustainable development, with an emphasis on strategic management, governance, and long-term policy alignment. Methodology - Employing a mixed-methods approach that integrates literature review, secondary data analysis, and semi-structured interviews with policymakers and industry experts, the research assesses the opportunities and constraints associated with natural g..

" Objective - The concept of marketing has been around for a very long time. Over the years, it has continuously evolved, adapting to changing trends and technological advancements. Recognizing this ongoing transformation, this study focuses on current developments that are directly linked to marketing. Methodology/Technique - Acknowledging this phenomenon of change, this study focuses on current developments directly related to the marketing concept. In particular, it examines the growing discussions on space tourism and the possibility of human migration to other planets. This focus was chosen because both topics are expected to have significant global implications for business and society..

We develop a model for financial contagion in collateralized networks in which two channels of fire sales interact. We consider a financial market with multiple assets that can be used for both investment purposes and to satisfy collateral requirements. In our model, a fire sale can be triggered both before default, when illiquid assets are sold to satisfy payment obligations, and after default, when collateral of defaulted institutions is sold. We investigate contagion that arises from the overlap in assets used for investment purposes and as collateral. In particular, we illustrate how fire sales triggered prior to default can reduce the effectiveness of collateralization after a default. ..