JournalTOCs

International Review of Economics
Journal Prestige (SJR): 0.21

Number of Followers: 4

Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1863-4613 - ISSN (Online) 1865-1704
Published by Springer-Verlag

[2469 journals]

Abilities and the structure of the firm
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  Abstract: Abstract In this paper, we enhance the production games approach introduced by Hiller (Manag Decis Econ 40(5):520–525, 2019) with aspects from a recent article by Morelli and Park (Games Econ Behav 96(1):90–96, 2016), to analyze how abilities of employees influence the structure and the wage scheme of the firm. The analysis is done within the framework of cooperative game theory. Concretely, we apply the coalition structure approach and the \(\chi\) value (Casajus in Games Econ Behav 65(1):49–61, 2009).
  PubDate: 2022-05-19
Commodity price volatility, inflation uncertainty and political stability
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  Abstract: Abstract The study examines the effect of fluctuations in prices of key internationally traded commodities, inflation, inflation uncertainty and macroeconomic uncertainty on political stability among emerging economies in Sub-Saharan Africa using panel data from 1996 to 2019. Empirical analysis examining the relationship in question is performed using pooled ordinary least squares with Driscoll and Kray (Rev Econ Stat 80(4):549-560, 1998) standard errors. Estimated results suggest that volatility in prices of crude oil, copper, and coal exert significant negative influence on political stability among economies in the sub-region. Further empirical estimates show that volatility in exchange rate denominated price of gold and natural gas on the international market have significant positive impact on political stability among economies in the sub-region. Our analysis additionally suggest that regulatory quality positively moderates the extent to which volatility in the price of copper ultimately impact political stability, but moderates negatively, the extent to which volatility in prices of gold and coal affect political stability among economies in the sub-region.
  PubDate: 2022-05-12
Corporate social responsibility and endogenous competition structure in an
industry composed of firms with biased managers
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  Abstract: Abstract In this study, we revisit the endogenous choice between price and quantity contracts in a duopoly composed of asymmetric firms engaged in corporate social responsibility (CSR) with possibly biased managers. We find that Cournot competition can change to an equilibrium competition structure regardless of the degree of homogeneity between the goods produced by them and the degree of importance of their CSR. Furthermore, we show that Bertrand competition, in addition to Cournot competition, can be observed in equilibrium when the degrees of importance of CSR between firm owners are sufficiently asymmetric with each other. This result is supported by the manipulation of the types of managers with respect to the biased scale of the demand size in the market by their owners when the degree of importance of their CSR changes.
  PubDate: 2022-04-25
Decomposing the effects of digitalization on workers’ job
satisfaction
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  Abstract: Abstract This paper provides novel results on the relative importance of multiple channels through which digitalization affects job satisfaction. Using part-time students and graduates of professional education and training colleges in Switzerland as a case study, we investigate the relative strength of ten different channels. We find that the association between digitalization and job satisfaction is positive on average. This relationship is mainly due to the increase in productivity and more interesting work. Heterogeneity analyses on subsets of workers suggest that the effect through increasing productivity is more beneficial for women, for older workers, for workers without an executive position, and for workers who did not study in technology-related fields. The effect through the interestingness of work is larger for males and for older workers. Our results further suggest that among the channels that decrease job satisfaction, increase of time pressure and worsening of work-life balance are much more important than the threat of losing one’s job. Both channels are more relevant for men, for older workers, and for workers whose field of study is technology-related.
  PubDate: 2022-04-17
Effects of rural electrification on household welfare: a meta-regression
analysis
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  Abstract: Abstract There is almost a consensus that electrification improves household well-being. However, review of existing literature reveals mixed and inconclusive results. Thus, this study is conducted to objectively summarize the effect-size estimates from primary studies, to identify the degree of publication bias and underlying genuine effects using meta-regression-analysis. We also examined the sources of heterogeneity in effect-size estimates from primary studies. We synthesized effect size estimates from those studies focusing on the effects of rural electrification on income, education, employment, time use and women empowerment using meta-regression approach. Indeed, our finding indicates that rural electrification improves rural household welfare. The result shows that there is genuine effect of rural electrification on household welfare indicators after publication bias is filtered out. Specifically, our finding shows that rural electrification has a statistically significant positive genuine effect on household education, employment, income, time uses and women empowerment. However, the study did not find strong evidence for the presence of publication selection for the included welfare outcomes, except for educational outcome. Therefore, collaborative interventions by national governments, international development assistance programs and donor agencies can play a crucial role in the provision of electricity to the poor households in least developed countries (LDCs) to change their life.
  PubDate: 2022-04-01
Optimism, pessimism and life satisfaction: an empirical investigation
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  Abstract: Abstract This is an empirical investigation into life satisfaction, using nationally representative German panel data. The study confirms with modern econometric techniques the previously found substantial association with an individual’s thoughts about the future, whether they are optimistic or pessimistic about it, with life satisfaction. In addition, the investigation demonstrates that the association holds when some possibly anticipated events (like, for example, divorce and unemployment) are controlled for. Furthermore, including individuals’ optimism and pessimism about the future substantially increases the explanatory power of standard life satisfaction models. The effect size is greater for individuals who report being pessimistic than that for well-understood negative events like unemployment. These effects are attenuated though do remain substantial after controlling for the following: individual fixed effects; statistically matching on observable variables between optimistic and pessimistic individuals; and addressing the potential endogeneity of optimism and pessimism to life satisfaction.
  PubDate: 2022-03-14
A review of the theoretical foundations of financial well-being
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  Abstract: Abstract This work aims to clarify the definition of financial well-being and make propositions for building a theory of financial well-being by describing and reviewing its theoretical foundations. Although financial well-being's scope is essentially individual, it is necessary to understand it in a broader context due to its social impact and association with socio-economic progress and happiness. We follow a qualitative-descriptive method based on the literature employed in empirical works and the principles enunciated by diverse scholars and institutions. The originality of this work lies in consolidating a financial well-being definition, relating, and contrasting several of its theoretical foundations together instead of addressing them separately. We argue in favor of establishing a theory of financial well-being to define, measure, and analyze it comprehensively. This proposal considers different dimensions such as time, human needs, saving motives, and institutional policies. Our results are of interest to those involved in research about financial well-being, general well-being, and the economics of happiness.
  PubDate: 2022-03-07
  DOI: 10.1007/s12232-022-00389-1
Economic benefits of immigration for natives: the effects of immigrants
through the school system
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  Abstract: Abstract Immigration can have indirect negative effects, such as the additional burden of providing education to immigrant children who may need more support than native children to master the culture, customs, and language of the host country. This also leads to a transition of labor from the consumption sector to the education sector and a change in the number of children through the costs of education. Thus, using an overlapping generation model, we examine the effects of immigration on the welfare of the native population with the burden of providing schooling to native and immigrant children with endogenous fertility rates and endogenous unemployment rates. The results indicate that immigration may improve the welfare of the native population when the number of educators required for immigrant children is sufficiently low. Moreover, whether immigration improves the welfare of the native population depends not on the productivity of immigrants but on the increment in the number of educators caused by immigration.
  PubDate: 2022-03-03
  DOI: 10.1007/s12232-022-00388-2
The effect of fairness on tax morale in South Korea: a framed question
approach
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  Abstract: Abstract This study examines how the perceptions of fairness in tax regimes influence tax morale. We empirically demonstrate the importance of the perception of fairness in shaping tax morale and the subsequent attitudes by examining data on approximately 7300 taxpayers by the National Survey of Tax and Benefit of South Korea. To estimate the tax moral inherent in taxpayers, we adopt the framed and hypothetical tax evasion question method. We find that taxpayers are more likely to pay taxes if they perceive the tax system as fair in terms of vertical, horizontal, exchange, and distributive fairness, while procedural fairness is not statistically significant. Our results also indicate that the peer effect and trust in government have an essential positive correlation with tax morale.
  PubDate: 2022-02-07
  DOI: 10.1007/s12232-022-00387-3
The contribution of Carlo Casarosa on the forerunners of the life cycle
hypothesis by Franco Modigliani and Richard Brumberg
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  Abstract: Abstract The Italian economist Carlo Casarosa published a study in 2002 claiming that there existed two contributions—one by Roy Harrod (1948, Lecture Two) and one by James Duesenberry (1949, Chapter III, Sect. 9)—that could be considered forerunners of Modigliani and Brumberg’s pioneering works about the Life Cycle Hypothesis (LCH). Those contributions, according to the Italian scholar, had been, until that moment, scarcely known by the scientific community. Particularly, he pointed out that, while Modigliani in 1970 eventually recognized Harrod’s contribution to the LCH, he never mentioned Duesenberry’s work. After presenting and commenting on the content of Casarosa’s investigation, in this paper we present the results of an extended historiographical analysis that we have carried out on the early literature about the LCH. Rather interestingly, our analysis shows that several economists, especially from Cambridge (UK), had acknowledged the role of Harrod (together with the one of Frank Ramsey) since early 1950s, while Duesenberry’s contribution to the LCH was completely ignored.
  PubDate: 2022-01-18
  DOI: 10.1007/s12232-021-00386-w
Assessment of multidimensional rural poverty in Burji and Konso area,
Southern Ethiopia
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  Abstract: Abstract Poverty is one of the hoariest socio-economic problems in the world and a complex concept that attracted the involvement of several researchers and policymakers. Nowadays, it is the number one global agenda as it has indicated on SDG. Ethiopia is one of the poorest countries in the world and the level of poverty is more challenging in rural areas compared to urban. Currently, there are great tendencies over the world to measure poverty using Alkire and Fosters' MPI approach among different approaches of poverty assessment. This study aimed at assessing multidimensional rural poverty status household's poverty in Burji and Konso area in Southern Ethiopia. To address this objective, 368 households were selected using simple random sampling techniques. The data were collected from both primary and secondary sources. Interview schedule, focused group discussion, key informant interview, and observation methods were implemented to collect primary data. Alkire and Foster Methodology with modified four dimensions and 14 indicators used to analyze multidimensional rural poverty. The study reveals as the highest three deprivations 97.8% of cooking fuel, 92.6% of the floor, and 76.1% of drinking water. The multidimensional Poverty Index (MPI) of the study area was 0.419 with 76.6% of incidence and 54.7% the intensity of multidimensional rural poverty. The highest (15%) contributor to MPI was deprivation in school attendant and the highest (36%) deprivation dimension was in living Standard out of four dimensions.
  PubDate: 2022-01-07
  DOI: 10.1007/s12232-021-00385-x
Correction to: Bribes, market power and access to credit: evidence from
cross-country firm-level data
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  PubDate: 2021-12-01
  DOI: 10.1007/s12232-021-00383-z
Development goals, population demography and state expenditure on human
priority sectors: a study of Indian major states
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  Abstract: Abstract The paper examines the spending pattern of Indian states on human priority sectors (HPS) during 2001–2019 particularly stressing on its responsiveness towards the Development Goals and Population Demography. The observed expenditure pattern reveals that among all the major Indian States, Bihar is the most vulnerable state having the lowest spending and lowest growth rate of expenditures. We also find Water Sanitation and Family Welfare to be the most neglected subsectors of HPS as these sectors received only 3% of HPS expenditure on an average. Besides, the pattern also exposes the huge inter– state disparities in HPS expenditure, which is detected to be highest as regard Nutrition and has a rising trend for the Family Welfare component. Moreover, in response to Millennium Development Goals we find there was no significant change in spending pattern, however, we find mixed bearing of population demography on the HPS. For instance, states with a large base of rural population are observed to spend more on the priority sector, but contrary to the expectation, the size of the poor population has no bearing on the states’ allocation of resources. The findings of the paper are particularly significant for policy prescriptions to attain the Sustainable Development Goals as it offers sufficient evidence of negligence of timely spending on the HPS in response to the development goals and population composition. So, we find there is a need for introspection on HPS spending and its concurrent evaluation in terms of its allocation criterion and timing of allocation.
  PubDate: 2021-11-01
  DOI: 10.1007/s12232-021-00382-0
The Basque socioeconomic model (BSEM): a Lonergan perspective
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  Abstract: Abstract Bernard Lonergan maintained that economies are goods of order which, when properly disposed, make possible the regular provision of the material conditions for the fuller flourishing human. Lonergan’s economic thought tried to understand the economy related to a society’s civic institutions, political orders, and cultural traditions. In addition, he wished to explain the normative rhythms of economic development and the conditions of its dynamic equilibrium. In this sense, Lonergan’s analysis presents an alternative to conventional accounts of the kind of economic progress the Basque Country has enjoyed in recent decades, in ways that still resonate with the Basque Country’s emphasis on the centrality of the productive process and the values of its people.
  PubDate: 2021-10-20
  DOI: 10.1007/s12232-021-00380-2
Bribes, market power and access to credit: evidence from cross-country
firm-level data
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  Abstract: Abstract This paper used multi-country firm-level data covering 104 countries for the period from 2010 to 2019 to investigate the effects of bribery on credit access for firms holding bargaining power and/or facing market competition. We used firms’ size and legal status to capture their bargaining power, while the levels of market competition were analyzed according to the number of competitors in the same working field. Our empirical results provided evidence to support the “greasing-the-wheels-of-credit access” hypothesis. Furthermore, the effects of bribery become stronger for larger-sized or formally registered firms, and those facing no market competition. These effects also become pronounced if we controlled the endogeneity problem.
  PubDate: 2021-10-09
  DOI: 10.1007/s12232-021-00381-1
Avoiding a “despair death crisis” in Europe: the drivers of
human (un)sustainability
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  Abstract: Abstract The emergence of the despair death crisis in the US stimulates researchers and policymakers to look at subjective wellbeing data from a different perspective. We wonder what can be done to avoid a similar situation in Europe, and to this purpose we analyse factors correlated with depression in the European Social Survey by considering the latter as a proxy of despair deaths. We find the strongest correlations with poor income, high-income expectations, low education, low-skilled jobs, poor social relationships, failure and shocks in affective relational life. We perform robustness checks finding that our results are robust when using alternative measures of psychological health and when instrumenting married status. If causality links between all these drivers and the dependent variable are verified and confirmed, as for marital status, we can conclude that the despair death crisis depends from a mix of material and immaterial factors (with the latter being dominant) that cannot be fully solved by mere monetary redistribution.
  PubDate: 2021-09-08
  DOI: 10.1007/s12232-021-00379-9
Competitive CSR in a strategic managerial delegation game with a
multiproduct corporation
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  Abstract: Abstract We study the firm’s strategic choice of corporate social responsibility (CSR) in a managerial delegation framework where a multiproduct corporation competes against a single plant firm. We examine simultaneous-move versus sequential-move in output choices when CSR’s strategic level is simultaneously chosen in the first stage. We show that both firms adopt (asymmetric) CSR in a simultaneous-move game, whereas only the follower firm adopts CSR (but not the leader firm) in sequential-move games. In an endogenous timing game in output choices, we also show that a simultaneous-move is an equilibrium when the products are substitutes or weak complements, while a single plant firm’s leadership is otherwise wherein the multiproduct corporation might choose negative CSR. Our findings can explain the observed phenomenon of different industries in which firms’ CSR activities are more or less (even non-CSR or negative CSR), commonly widespread in the real world. It also partially helps us understand CSR’s strategic motives and its policy relations with the firm’s profits.
  PubDate: 2021-09-01
  DOI: 10.1007/s12232-021-00370-4
Smith’s paradox of price and negotiation: Empirical evidence from
India
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  Abstract: Abstract Diamond-water paradox has enticed the human mind for generations. Adam Smith gave it a new twist in the Wealth of Nations that serves as the basis of all modern valuation theories. This paper goes back to the original writing of Smith to identify paradoxes and then empirical test in the context of land value. The review of original texts and empirical evidence suggests the existence of a third principle, i.e. “riches and poverty of those who demand”. This indication demands a re-evaluation of Smith’s paradox of value and has implication of modern science of valuation.
  PubDate: 2021-07-31
  DOI: 10.1007/s12232-021-00378-w
Participation in socio-cultural activities and subjective well-being of
natives and migrants: evidence from Germany and the UK
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  Abstract: Abstract Within the diverse populations characterizing the modern society, it is essential to explore the experiences of multicultural individuals and their subjective well-being. The aim of this study is to explore the participation of migrants in socio-cultural activities related to arts, theatre, concerts and sports events and its role in their subjective well-being (SWB). The empirical analysis relies on data derived from the German Socio-Economic Panel (GSOEP) Survey over the period 1984–2017 and the United Kingdom Household Longitudinal Study (UKHLS) covering the period 2010–2013. We apply panel data models to explore and compare the impact of the participation in socio-cultural activities on subjective well-being between first-generation immigrants and natives. Furthermore, based on the available information, we extend the analysis to consider the 2.5 and second-generation immigrants. The findings show that first-generation immigrants report lower levels of SWB compared to natives. We find no differences in the SWB between natives and the 2.5 generation migrants in Germany, while second-generation migrants report on average higher levels of SWB than natives do. On the other hand, all migrant generations we explore in the UK present lower levels of SWB, while participation in socio-cultural activities improves the SWB of both natives and migrants. Moreover, our findings suggest that socio-cultural participation reduces the SWB gap between natives and immigrants, indicating that socio-cultural integration can be an alternative policy of creating inclusive, secure and happier communities.
  PubDate: 2021-06-22
  DOI: 10.1007/s12232-021-00377-x
The ethics of care and the tragedy of the commons
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  Abstract: Abstract In this paper, we argue that the ethics of care can offer solutions to diverse tragedies of the commons. Building on Hayek’s (Law, legislation and liberty, Abingdon, Routledge, 1982) theory on the emergence of rules and norms, we outline the spheres of application of the ethics of care and the ethics of justice and outline how the two interact. We apply our analysis of the interaction of the ethics of care and the ethics of justice to the problem of the tragedy of the commons. The morality of care allows people to establish rules in small groups and to ensure the compliance with theoretically defined rules in the Great Society, thus potentially avoiding any tragedy of the commons in either realm. We illustrate our argument with two examples of the tragedy of the commons: fractional-reserve banking and environmental tragedies.
  PubDate: 2021-06-02
  DOI: 10.1007/s12232-021-00376-y