Hasil untuk "Economic theory. Demography"

G. Cain

Ana S. Reis-Machado, Ana S. Reis-Machado, Ana V. M. Nunes et al.

Bo Zhu, Yufei Zhang, Xiru Li et al.

Given the strong interdependencies between the economic and financial systems, nonfinancial firms have a significant impact on systemic risk. In this scenario, we examine the influence of bank liquidity hoarding on risk spillovers of nonfinancial firms, as it can impact firms' financing environment and operational conditions. Using data from 118 publicly listed Chinese companies between 2008 and 2021, we find that bank liquidity hoarding increases nonfinancial firms' risk spillovers, especially in the manufacturing and real estate industries. Furthermore, the path analysis results show that bank liquidity hoarding exacerbates extreme risk spillovers by increasing financing costs and intensifying corporate maturity mismatches. Moreover, the effect of bank liquidity hoarding is mitigated in firms with higher profitability and lower corporate financialization. This research bolsters the efficacy of macroprudential policies aimed at managing systemic risks amplified by bank liquidity hoarding within the financial and economic systems.

Paul X. McCarthy, Xian Gong, Marieth Coetzer et al.

This study explores the relationship between personality diversity and national economic performance, introducing the Global Personality Diversity Index ($Ψ$-GPDI) as a novel metric. Leveraging a dataset of 760,242 individuals across 135 countries, we quantify within-country diversity based on the Big Five personality traits. Our findings reveal that personality diversity accounts for 19.9% of the variance in GDP per capita and provides an additional 2.8% explanatory power beyond institutional quality and immigration, underscoring its unique contribution to economic vitality. Through multi-factor analysis, we demonstrate how personality diversity complements existing economic frameworks, offering actionable insights for policymakers seeking to enhance innovation, productivity, and resilience. This research positions psychological diversity as a critical yet under explored factor in driving economic growth, bridging the fields of psychology and economics.

Fengming Zhu, Yuxin Pan, Xiaomeng Zhu et al.

Originating in psychology, $\textit{Theory of Mind}$ (ToM) has attracted significant attention across multiple research communities, especially logic, economics, and robotics. Most psychological work does not aim at formalizing those central concepts, namely $\textit{goals}$, $\textit{intentions}$, and $\textit{beliefs}$, to automate a ToM-based computational process, which, by contrast, has been extensively studied by logicians. In this paper, we offer a different perspective by proposing a computational framework viewed through the lens of game theory. On the one hand, the framework prescribes how to make boudedly rational decisions while maintaining a theory of mind about others (and recursively, each of the others holding a theory of mind about the rest); on the other hand, it employs statistical techniques and approximate solutions to retain computability of the inherent computational problem.

Marcelo S. Tedesco, Gonzalo Marquez

Persistent economic competition is often justified as a mechanism of innovation, efficiency, and welfare maximization. Yet empirical evidence across disciplines reveals that competition systematically generates fragility, inequality, and ecological degradation, emergent outcomes not of isolated failures but of underlying systemic dynamics. This work reconceptualizes economic ecosystems as real complex adaptive systems, structurally isomorphic with biological and social ecosystems. Integrating complexity science, evolutionary biology, ecology, and economic and business theory, we classify economic interactions according to their systemic effects and propose a theoretical model of ecosystemic equilibrium based on the predominance of beneficial versus non-beneficial relationships. Recognizing economies as ecologically embedded and structurally interdependent systems provides a novel framework for analyzing systemic resilience, reframing competition as a non-beneficial mechanism.

Pedro Afonso Fernandes

The main goal of this article is to introduce an economic perspective in the social logic of space. Firstly, we describe the economic model of a linear city to show how depth can generate value by creating local monopolies in less integrated spaces. Then, a new syntactic measure, the d-value, is proposed to capture the relation between the depth of some space from outside and the mean depth of all spaces from outside. An application to a public housing estate suggests that economic activities and services may be located in spaces with a d-value close to one. The article is complemented by a Prolog programme with a special predicate to compute the d-value.

N. S. Gonchar

The state of economic theory and accumulated facts from the different branches of the economic science require to analyze the concept of the description of economy systems. The economic reality generates the problems the solution of that is only possible by a new paradigm of the description of economy system. The classical mathematical economics is based on a notion of the rational consumer choice generated by a certain preference relation on some set of goods a consumer wanted and the concept of maximization of the firm profit. The sense of the notion of the ratio- nal consumer choice is that it is determined by a certain utility function, defining the choice of a consumer by maximization of it on a certain budget set of goods. More- over, choices of consumers are independent. In the reality choices of consumers are not independent because they depend on the firms supply. Except the firms supply, the consumer choice is also determined by information about the state of the economy system that the consumer has and respectively eval- uates at the moment of the choice. In turn, the firms supply is made on the basis of needs of the consumers and their buying power. By information about the state of the economy system we understand a certain information about the equilibrium price vector and productive processes realized in the economy system under the equilibrium price vector.

Ian Alcock, M. White, S. Pahl et al.

Progress on changing human behaviour to meet the challenges of regional and global sustainability has been slow. Building on theory as well as small-scale survey and experimental evidence that exposure to nature may be associated with greater pro-environmentalism, the aim of the current study was to quantify relationships between exposure to nature (operationalised as neighbourhood greenspace, coastal proximity, and recreational nature visits) as well as appreciation of the natural world, and self-reported pro-environmental behaviour for the adult population of England. Using data from a nationally representative sample (N = 24,204), and controlling for potential confounders, a structural equation model was used to estimate relationships. Indirect effects of neighbourhood exposures via nature visits and nature appreciation were accounted for. We found positive relationships between both recreational nature visits and nature appreciation and pro-environmental behaviour across both the whole sample and key socio-demographic groups. The more individuals visited nature for recreation and the more they appreciated the natural world, the more pro-environmental behaviour they reported. Although rural and coastal dwellers tended to also be more pro-environmental on average, patterns were complex, potentially reflecting situational constraints and opportunities. Importantly, positive associations between pro-environmental behaviours and high neighbourhood greenspace and coastal proximity were present for both high and low socio-economic status households. Improving access to, and contact with, nature, e.g., through better urban planning, may be one approach for meeting sustainability targets.

Weili Zhang, Zhaohui Chong, Xiaojian Li et al.

Abstract Despite the rising interest in understanding the population flows across cities, few empirical studies have paid close attention to their network characteristics and determining factors. Using the Tencent Location Big Data, this paper first analyzes the spatial patterns of interregional population mobility among 328 Chinese cities and aims to identify the influential factors associated with population flows based on the exponential random graph model (ERGM). Supported by social network analysis method, we found that the spatial distribution patterns of population flows were relatively stable, showing a diamond shape with 7 central points, with the most attractive cities located in east developed urban agglomerations. Nevertheless, the proportion of cities with a positive population inflow in the west increased. The subgroup structure gained by Walktrap algorithm suggested that the intra-province flows comprised the majority. Furthermore, variants of ERGMs were used to determine geographic, demographic, economic, natural, and linguistic factors, as well as others related to the level of facilities. The results are in line with the neoclassical economics theory and the amenity-led theory, while amenities' factor played a more significant role. Our research can provide important insights for strengthening network connections among cities to achieve more balanced regional development.

Kitti Dióssy

Hungarian Életünk és mindennapjaink egyre nagyobb részére van befolyása a mesterséges intelligenciának (MI). A munkaerőpiacon már jelenlévő Y és Z generáció motivációja és attitűdje hatással van hosszú távon a vállalatok versenyképességére. Az MI előnyeinek felismerése mellett annak alkalmazása és az esetleges hátrányaihoz való alkalmazkodás is jelentős feladat. Kutatásomban arra fókuszálok, hogy feltárjam a fiatal közgazdászok gondolkodásmódját az MI-vel kapcsolatban, anonim kérdőívek segítségével (147 magyar, 105 amerikai válaszadó). Ennek érdekében amerikai (fejlett gazdaság és élen járó az MI-ben) és magyar (fejlett gazdaság, de nem jelentős az MI területén) fiatal közgazdászokat kérdeztem meg. Kutatásomból kiderült, hogy a két nemzet közgazdászainak gondolkodása között nem fedezhető fel szignifikáns különbség. Egyértelműen pozitívan és bizakodóan állnak az MI-hez, valamint annak rövid és hosszú távú hatásához. Érdeklődésük középpontjában azonban még nem szerepel az MI és annak megértése, de izgalmasnak találják. Fontosnak tartják a fejleszthető puha és a nehéz készségeket, amelyekkel felülreprezentált helyzetbe kerülhetünk az MI-vel szemben. A fiatal közgazdászok szerint teljesen nem fog megszűnni az emberi munka, csak átalakul, emiatt sem érzik magukat veszélyeztetve a munkaerőpiacon. English An increasing part of our everyday life is affected by artificial intelligence (AI). The motivation and attitude of Generation Y and Z have a fundamental influence on the competitiveness of companies. Therefore, it is important to recognize, apply, and adapt to the potential drawbacks of AI. In my research, by using an anonymous questionnaire, the focus is laid on how young economists think of the subject. Thus, I interviewed American (a developed economy with a significant role in the field of AI) and Hungarian (a developed economy but not significant role in the field of AI) young economists. My research has shown that no significant difference can be identified between the thinking of economists in the two nations. Young people are unambiguously positive and optimistic about AI and its impact in the short and long term. However, AI and its understanding are not yet at the centre of their interest, though they find it fascinating. Soft- and hard skills that can be developed are considered important, with which they can be in an advantageous position against AI. According to young economists, human work will not completely disappear, it will only alter, and due to this, they do not feel threatened in the labour market.

Yue Chen, Mohan Li

When analyzing the components influencing the stock prices, it is commonly believed that economic activities play an important role. More specifically, asset prices are more sensitive to the systematic economic news that impose a pervasive effect on the whole market. Moreover, the investors will not be rewarded for bearing idiosyncratic risks as such risks are diversifiable. In the paper Economic Forces and the Stock Market 1986, the authors introduced an attribution model to identify the specific systematic economic forces influencing the market. They first defined and examined five classic factors from previous research papers: Industrial Production, Unanticipated Inflation, Change in Expected Inflation, Risk Premia, and The Term Structure. By adding in new factors, the Market Indices, Consumptions and Oil Prices, one by one, they examined the significant contribution of each factor to the stock return. The paper concluded that the stock returns are exposed to the systematic economic news, and they are priced with respect to their risk exposure. Also, the significant factors can be identified by simply adopting their model. Driven by such motivation, we conduct an attribution analysis based on the general framework of their model to further prove the importance of the economic factors and identify the specific identity of significant factors.

Alessio Rocci, Thomas Van Riet

This paper analyzes the effective field theory perspective on modern physics through the lens of the quantum theory of gravitational interaction. The historical part argues that the search for a theory of quantum gravity stimulated the change in outlook that characterizes the modern approach to the Standard Model of particle physics and General Relativity. We present some landmarks covering a long period, i.e., from the beginning of the 1930s until 1994, when, according to Steven Weinberg, the modern bottom-up approach to General Relativity began. Starting from the first attempt to apply the quantum field theory techniques to perturbatively quantize Einstein's theory, we explore its developments and interaction with the top-down approach encoded by String Theory. In the last part of the paper, we focus on this last approach to describe the relationship between our modern understanding of String Theory and Effective Field Theory in today's panorama. To this end, the non-historical part briefly explains the modern concepts of moduli stabilization and Swampland to understand another change in focus that explains the present framework where some string theorists move.

C. Kerr, D. Mistry, R. Stuart et al.

Initial COVID-19 containment in the United States focused on limiting mobility, including school and workplace closures. However, these interventions have had enormous societal and economic costs. Here, we demonstrate the feasibility of an alternative control strategy, test-trace-quarantine: routine testing of primarily symptomatic individuals, tracing and testing their known contacts, and placing their contacts in quarantine. We perform this analysis using Covasim, an open-source agent-based model, which has been calibrated to detailed demographic, mobility, and epidemiological data for the Seattle region from January through June 2020. With current levels of mask use and schools remaining closed, we find that high but achievable levels of testing and tracing are sufficient to maintain epidemic control even under a return to full workplace and community mobility and with low vaccine coverage. The easing of mobility restrictions in June 2020 and subsequent scale-up of testing and tracing programs through September provided real-world validation of our predictions. Although we show that test-trace-quarantine can control the epidemic in both theory and practice, its success is contingent on high testing and tracing rates, high quarantine compliance, relatively short testing and tracing delays, and moderate to high mask use. Thus, in order for test-trace-quarantine to control transmission with a return to high mobility, strong performance in all aspects of the program is required. Initial COVID-19 containment in the United States focused on limiting mobility, including school and workplace closures, with enormous societal and economic costs. Here, the authors demonstrate the feasibility of a test-trace-quarantine strategy using an agent-based model and detailed data on the Seattle region.

Muhammad Tamar, H. Wirawan, Triani Arfah et al.

PurposeThis study aims to investigate the effect of prosocial values on pro-environmental behaviours via attitudes in which environmental knowledge and proself values moderate the relationship. This study also examines the application of the Theory of Planned Behaviour and Cognitive Dissonance.Design/methodology/approachThis study employed a quantitative method to examine potential positive or negative moderating effects of environmental knowledge and proself values on environmental attitudes and behaviour. Participants were undergraduate students recruited from a state university in the eastern part of Indonesia. The online survey link was randomly sent to 500 students in 14 different Faculties with a response rate of 57% (285) participants (80% female). Data were analysed using a moderated-mediation regression technique.FindingsThe results suggested that only biospheric value positively affected pro-environmental behaviours. Environmental knowledge negatively moderated the relationship between prosocial values and environmental attitudes. Similarly, high egoistic value potentially reduced the effect of environmental attitude on pro-environmental behaviours. Environmental knowledge could impede the positive impacts of prosocial values while egoistic value negates the effect of attitude on pro-environmental attitude.Research limitations/implicationsAlthough the findings supported most hypotheses, this study did not control the effect of some demographic variables such as education and social-economic status. Participants tended to share some similar characteristics, which potentially influenced the results.Originality/valueThis study challenged some common antecedents of pro-environmental behaviours and offered some alternative explanations. This study has offered a new insight in understanding unique interactions among values, knowledge and attitude.

Pavitra Dhamija, Shivam Gupta, Surajit Bag

Purpose Banking industry forms a part of financial services that has emerged itself as the most important source for India’s economic growth. Job satisfaction of employees is one of the important pre-requisites to ensure smooth functioning of banks. The purpose of this paper is to explore the association of job satisfaction with the quality of work life factors of bank employees (n=300), followed by the essential influential relationship of these concepts with socio-demographic characteristics, thereby, proving its own distinct contribution to the subsist body of literature. Design/methodology/approach This study has considered five private sector banks in India and has used the technique of multi-stage sampling to collect primary data. The respondents from different cadres, namely, executive, associate and manager involved in customer-oriented interactions participated in this survey. The analysis has been conducted by applying descriptive statistics, regression analysis (impact of the quality of work life factors on job satisfaction) and χ2 statistics (association of the quality of work life and job satisfaction with socio-demographic variables). The results have been compared with the Herzberg Theory of Job Satisfaction. Findings The results of the study show the presence of variance (R2 61.40 percent) in job satisfaction as explained by the quality of work life constructs. The unconducive work environment has confirmed negative association with job satisfaction. The study foresees to contribute useful information to the top management level in the organizations to enhance employees’ overall job satisfaction. Research limitations/implications The opaqueness with which the Indian banking industry has its roots and existence in India, the present study clearly has limits: the small size of the sample and the study considered only private sector banks. Practical implications A planned approach at organizational and individual level is highly recommended. The bank management must realize the importance of their devoted staff by giving them quality work environment. The initiatives like regular exercise routines can be adopted to reduce stress. Some respondents expressed the need for intercity branch associations, which can help them to solve common problems, better learning opportunities with an informal atmosphere along with other training sessions organized formally. Originality/value The paper gives a theoretical explanation of the quality of work life and job satisfaction factors in the Indian private banks falling under the umbrella of Indian banking industry with respect to the employees of private sector banks.

Martin Karlsson, Björn Hammarfelt

We analyse how the Nordic contribution to health economics has evolved over the past three decades -- in quantitative and qualitative terms. Using a dataset of publications from five prominent field journals for health economics, we combine different empirical methods to analyse the general trends in terms of number of distinct publications, topics covered, and co-authorship relationships between countries and individuals. We find that the Nordic countries are responsible for a stable share of international publications in health economics. The topics that Nordic health economists publish on are relatively similar to those most prevalent in the international community, even though health insurance is remarkably absent as a research topic in Nordic countries. In terms of links between countries and co-authors, we see that Nordic researchers are well embedded in the international community, and that the Nordic research community has moved toward less hierarchical relationships.

ROGERIO P. DE ANDRADE

RESUMO Este artigo aborda o que chamo de keynesianismo filosófico, mapeando suas origens históricas e analíticas e apontando suas perspectivas como uma referência alternativa. Seu surgimento histórico está relacionado a alguns resultados de pesquisas teóricas e metodológicas da escola pós-keynesiana de pensamento econômico. Uma suposição é feita sobre o lugar apropriado que o keynesianismo filosófico terá no futuro, pois seu escopo de investigação está se tornando muito mais abrangente e inclusivo do que a escola econômica que o gerou. O artigo revisa algumas das principais contribuições desse novo campo de investigação, como os livros de Carabelli, O’Donnell e Davis. Ele também procura reforçar o caso de que, como é bastante claro na abordagem de Keynes à teorização econômica, a economia deve ser vista como uma ciência moral e sócio-histórica, e não como uma ciência natural, e que um estudo mais realista e relevante da economia fenômenos devem ser baseados em algum tipo de pesquisa interdisciplinar.

Jiahao Hu

Using a canonical topology on differential K-theory induced from the Frechét space topology on differential forms and the discrete topology on topological K-theory, we prove that differential K-theory is uniquely determined by the character diagram up to a unique natural equivalence, thus giving an affirmative answer to a question asked by Simons and Sullivan in \cite{SS10}. We further deduce rigidity results including that there is a unique way of realizing $\RR/\ZZ$-K-theory as the flat theory, strengthening the results of \cite{BS10}.

Dorin BIBICU

Nowdays the password encryption is an indispensable job used in software developing process in order to secure the important information. In this work it is proposed an original and efficient algorithm capable to encrypt a password. In this regard we considered the following terms: real password and encrypted password. The encryption algorithm is based on an original method of character processing.