Hasil untuk "Economic history and conditions"

Neil Fligstein

Valery Yurievich Fridovsky, Maxim Vasilievich Kudrin

The Yana–Kolyma collision orogen, Eastern Siberia, is one of world-class gold economic belts, where large gold deposits are localized, mainly in the Upper Paleozoic and Lower Mesozoic clastic rocks. Dike-hosted orogenic gold deposits are found and to a lesser extent studied, but they are important for understanding the structural control of mineralization within the framework of the orogen. Orogenic gold deposits of the Vyun ore field are hosted in Kimmeridgian–Titonian mafic, intermediate and felsic dikes, but they have no genetic connection with dikes. The late formation of deposits led to the fact that previously reactivated polydeformed structures were subsequently mineralized. The study of the structural control of mineralization is also complicated by superimposed late tectonic events. Based on the analysis of collected field materials, this paper presents the results of the study of deformation structures of the Vyun ore field within the framework of the Mesozoic evolution history throughout the geological time of the eastern convergent margin of the Siberian Craton. Four stages of deformations are identified. The pre-mineralization deformations and metamorphic and magmatic events share a common NE-SW shortening (D1 phase), which is related to the subduction of the Oymyakon oceanic slab and collision of the Kolyma–Omolon superterrane from the eastern margin of the Siberian Craton. This first stage is characterized by the superposition of several tectonic events under conditions of compression and progressive deformations (D1/1 and D1/2). Ore mineralization was formed at the end of compression in the same stress field (D1/2). Its structural control is determined by reactivation of older dikes and faults. Dikes are areas of heterogeneous stress and heterogeneous strain, being favorable for the concentration of ore fluids. The metallogenic time of formation of the gold mineralization is synchronous with the tectonic event, which likely reflects the final stages of the Kolyma–Omolon microcontinent–Siberian Craton collision of the Valanginian during crustal thickening. The main impulse of the Au mineralization D1/2 phase coincided with a slowdown in convergence. The post-mineralization tectonic regime was related to the Aptian–Late Cretaceous tectonic transition from compression to transpression. Transpressional tectonics were determined accordingly by W-E (D2 phase) and N-S (D3 phase) stress fields caused by several accretion events in the Cretaceous on the northern and eastern margins of Siberia. D4 phase extensional structures were caused by the opening of the Eurasian Oceanic basin in the Arctic in the Paleocene. The obtained results have a first-order impact on the understanding of the structural control of orogenic gold deposits and their relationship to the evolution of the host orogen. The new findings improve the tectonic knowledge of an area of interest for ore deposit exploration targeting orogenic gold deposits in Phanerozoic terranes of craton margins.

Leticia Patrucchi, Andrea Molinari

Los bancos multilaterales de desarrollo expresan un conjunto amplio de “objetivos difusos” que fueron moldeando su institucionalidad. El Grupo Banco Mundial opera a través de muchos canales para alentar y promover la inversión privada, lo cual se encuentra en su propia génesis. Dado el creciente impulso al financiamiento directo al sector privado dentro del Grupo, enmarcado en las demandas de “maximizar el financiamiento para el desarrollo”, este trabajo periodiza el devenir de su principal ventanilla no soberana, la Corporación Financiera Internacional, en tres momentos históricos. Buscando identificar intereses y tensiones de época, indaga sobre el origen y diseño de la Corporación (1956-1967), las respuestas a la crisis de Bretton Woods y su reconfiguración (1968-1999), y finalmente la actual agenda de maximización y “un solo Banco” (2000 hasta el presente).

Minghao Han, Xunyuan Yin

Shipboard carbon capture is a promising solution to help reduce carbon emissions in international shipping. In this work, we propose a data-driven dynamic modeling and economic predictive control approach within the Koopman framework. This integrated modeling and control approach is used to achieve safe and energy-efficient process operation of shipboard post-combustion carbon capture plants. Specifically, we propose a deep neural Koopman operator modeling approach, based on which a Koopman model with time-varying model parameters is established. This Koopman model predicts the overall economic operational cost and key system outputs, based on accessible partial state measurements. By leveraging this learned model, a constrained economic predictive control scheme is developed. Despite time-varying parameters involved in the formulated model, the formulated optimization problem associated with the economic predictive control design is convex, and it can be solved efficiently during online control implementations. Extensive tests are conducted on a high-fidelity simulation environment for shipboard post-combustion carbon capture processes. Four ship operational conditions are taken into account. The results show that the proposed method significantly improves the overall economic operational performance and carbon capture rate. Additionally, the proposed method guarantees safe operation by ensuring that hard constraints on the system outputs are satisfied.

Jiaxin Liu, Yixuan Tang, Yi Yang et al.

Large Language Models (LLMs) are increasingly used in decision-making scenarios that involve risk assessment, yet their alignment with human economic rationality remains unclear. In this study, we investigate whether LLMs exhibit risk preferences consistent with human expectations across different personas. Specifically, we assess whether LLM-generated responses reflect appropriate levels of risk aversion or risk-seeking behavior based on individual's persona. Our results reveal that while LLMs make reasonable decisions in simplified, personalized risk contexts, their performance declines in more complex economic decision-making tasks. To address this, we propose an alignment method designed to enhance LLM adherence to persona-specific risk preferences. Our approach improves the economic rationality of LLMs in risk-related applications, offering a step toward more human-aligned AI decision-making.

Bahram Adrangi, Arjun Chatrath, Madhuparna Kolay et al.

The enterprise value (EV) is a crucial metric in company valuation as it encompasses not only equity but also assets and liabilities, offering a comprehensive measure of total value, especially for companies with diverse capital structures. The relationship between economic uncertainty and firm value is rooted in economic theory, with early studies dating back to Sandmo's work in 1971 and further elaborated upon by John Kenneth Galbraith in 1977. Subsequent significant events have underscored the pivotal role of uncertainty in the financial and economic realm. Using a VAR-MIDAS methodology, analysis of accumulated impulse responses reveals that the EV of air carrier firms responds heterogeneously to financial and economic uncertainties, suggesting unique coping strategies. Most firms exhibit negative reactions to recessionary risks and economic policy uncertainties. Financial shocks also elicit varied responses, with positive impacts observed on EV in response to increases in the current ratio and operating income after depreciation. However, high debt levels are unfavorably received by the market, leading to negative EV responses to debt-to-asset ratio shocks. Other financial shocks show mixed or indeterminate impacts on EV.

Yingxuan Yang, Ying Wen, Jun Wang et al.

The rise of Large Language Models (LLMs) has transformed AI agents from passive computational tools into autonomous economic actors. This shift marks the emergence of the agent-centric economy, in which agents take on active economic roles-exchanging value, making strategic decisions, and coordinating actions with minimal human oversight. To realize this vision, we propose Agent Exchange (AEX), a specialized auction platform designed to support the dynamics of the AI agent marketplace. AEX offers an optimized infrastructure for agent coordination and economic participation. Inspired by Real-Time Bidding (RTB) systems in online advertising, AEX serves as the central auction engine, facilitating interactions among four ecosystem components: the User-Side Platform (USP), which translates human goals into agent-executable tasks; the Agent-Side Platform (ASP), responsible for capability representation, performance tracking, and optimization; Agent Hubs, which coordinate agent teams and participate in AEX-hosted auctions; and the Data Management Platform (DMP), ensuring secure knowledge sharing and fair value attribution. We outline the design principles and system architecture of AEX, laying the groundwork for agent-based economic infrastructure in future AI ecosystems.

Debajyoti Biswas

Assam has long experienced intercommunal tensions stemming from faulty colonial-era administrative policies, which have continued post-independence. Key instances of violence include the Language Movement (1960), the Medium of Instruction Movement (1972), and the Assam Movement (1979-1985). These conflicts, particularly over language, have intensified tensions between Bengali and Assamese-speaking communities. Despite efforts to protect Assam’s ethnic and linguistic diversity, political manipulation and poor crisis management have deepened divisions. As affective relation is built up to fuel community sentiments and empower these movements, one may discern that three principal factors have been responsible for intensifying the conflict: misinformation among the communities, misdirection of the Movements, and involvement of political parties. Further, as political rhetoric has kept fuelling and nourishing communal sentiments till the present day, the same factors seem to be at work in varying degrees. Employing qualitative methods, this study draws from primary and secondary data, including interviews with 150 families from various socio-economic and ethnic backgrounds in violence-affected areas of Western Assam. Through semi-structured interviews, leaders, political figures, victims, and witnesses shared their views on Assam’s socio-political and economic history. This research is structured on three principal arguments corresponding to three sections, and a set of recommendations is presented in the concluding section. The first section argues that although the genesis of language conflict was triggered by transformation brought about by a new socio-economic structure introduced by the East India Company (EIC), the rhetorical conflict has been sustained till the present times through the clerk-conspiracy theory. The second section discusses how the Indian People’s Theatre Association (IPTA), as a non-communal association, tried to diffuse communal sentiments during the Language Movement in 1960. The third section looks at the post-1960s era when the conflict intensified due to the failure of the previous governments to tackle the immigration issue, and the concluding section argues that since inter-ethnic relationships worsened in subsequent years, a constitutional safeguard for the Assamese community may transform the socio-economic conditions responsible for the conflict. However, this can be achieved only when solidarity-building measures, mutual respect for all communities, and humility are made the basis of conversation.

Fabiana Rocha, Paula Pereda, Maria Dolores Montoya Diaz et al.

The leaky pipeline remains a persistent challenge to achieving gender diversity in the economics career. In this study, we contribute to the existing literature by investigating gender differences in academic performance in economics in Brazil in two distinct stages: undergraduate studies and graduate admission exams. We use individual-level data from the national admission exam for economics graduate programs (ANPEC exam) and undergraduate records from the University of São Paulo. Women are less likely to rank among the top 100 ANPEC applicants and perform worse than men in all exam subjects. Meanwhile, we find consistent evidence that female students perform similarly to their male counterparts in undergraduate courses with comparable content to those evaluated on the ANPEC exam. Since the students taking the ANPEC exam were exposed to the same higher education program, after controlling for observable characteristics, we can relate the differences in performance to the exam itself rather than to differences in learning abilities. While we cannot identify the source of the performance gap, as the ANPEC exam and undergraduate grading system vary in terms of stakes, grading scheme, risk, and competitiveness (all of which can potentially affect women and men differently), we argue that our evidence suggests the need to reconsider admission exam designs to address the leaky pipeline in economics.

Yixun Kang, Ying Li

This paper investigates the extent to which China's economic growth and development influence poverty levels, focusing on the dichotomy between absolute and relative poverty. Leveraging data from sources like the World Bank, Statista, and Macrotrends, and employing economic frameworks such as the Lewis Model, Poverty Headcount Ratio, and Gini Coefficient, the study examines China's transformation from combating absolute poverty to addressing relative poverty. The findings highlight that robust economic growth from 2011 to 2022, driven by urban development and rural infrastructure investments, successfully eradicated absolute poverty and elevated rural incomes. However, this progress also exacerbated income inequality, as evidenced by a rising Gini Coefficient, complicating efforts to alleviate relative poverty. Through multidimensional analyses encompassing regional disparities, migration patterns, educational access, and societal factors, the paper underscores the dual impact of economic development on poverty alleviation. It concludes by advocating for policies that balance economic growth with equitable resource distribution to tackle persistent relative poverty and foster sustainable development.

A. Tariq, Hong Shu, S. Siddiqui et al.

Lelia Voinea, Dorin Vicențiu Popescu, Teodor Mihai Negrea et al.

Cultured meat obtained in vitro from animal cells represents one of the recent concern of specialists, who thus try to solve part of the issues related to animal welfare and sustainable meat production. Beyond the technical difficulties that must be overcome, the acceptance of cultured meat by consumers is not an easy goal to achieve, as it depends on factors acting both at global and local level. Since this paper focuses on Romanian consumers, the authors emphasize the importance of developing a general information framework that would allow firstly their understanding and further their acceptance of cultured meat. For this purpose, a systematic literature review, based on 38 articles, was carried out in order to observe good practices at international level, which led, in the past, to the acceptance of other significant innovations in the food field. Thus, five directions of action were identified: communication, knowledge, trust, perception and attitudes. Based on these, a model of cultured meat acceptance by Romanian was developed. This initiative is unique in Romania so far and its results can be of interest for many categories of specialists, from scholars and researchers to practitioners interested in launching new products on the market or policymakers in the field of nutrition, public health and agriculture. Further research is needed on the relationships between food security and safety, traditional meat production and cultured meat as alternative to real meat, before the marketplace launch of this new product.

Sharmistha Chakrabarti, Yuanmeng Yang, Shuman Zhang et al.

This study re-examines the impact of natural disasters on economic growth in the perspective of developed and developing countries. Based on panel data consisting of developing and developed countries over the period 1990-2019 and using different statistical techniques we find that i) Developing countries agricultural growth impacted twice as much severely as the agricultural growth of developed countries. ii) While per capita GDP growth of developing countries is impacted severely, the developed countries don't have any statistical impact. The study confirms the finding of previous studies such as Panwar and Sen (2019) , and Nishizawa et al (2019) that the economic impact of natural disasters are statistically stronger in developing countries.

Nick Harkiolakis

A representation of economic activity in the form of a law of conservation of value is presented based on the definition of value as potential to act in an environment. This allows the encapsulation of the term as a conserved quantity throughout transactions. Marginal value and speed of marginal value are defined as derivatives of value and marginal value, respectively. Traditional economic statements are represented here as cycles of value where value is conserved. Producer-consumer dyads, shortage and surplus, as well as the role of the value in representing the market and the economy are explored. The role of the government in the economy is also explained through the cycles of value the government is involved in. Traditional economic statements and assumptions produce existing hypotheses as outcomes of the law of conservation of value.

Zhicen Liu

Energy supply is mandatory for the production of economic value. Nevertheless, tradition dictates that an enigmatic 'invisible hand' governs economic valuation. Physical scientists have long proposed alternative but testable energy cost theories of economic valuation, and have shown the gross correlation between energy consumption and economic output at the national level through input-output energy analysis. However, due to the difficulty of precise energy analysis and highly complicated real markets, no decisive evidence directly linking energy costs to the selling prices of individual commodities has yet been found. Over the past century, the US metal market has accumulated a huge body of price data, which for the first time ever provides us the opportunity to quantitatively examine the direct energy-value correlation. Here, by analyzing the market price data of 65 purified chemical elements (mainly metals) relative to the total energy consumption for refining them from naturally occurring geochemical conditions, we found a clear correlation between the energy cost and their market prices. The underlying physics we proposed has compatibility with conventional economic concepts such as the ratio between supply and demand or scarcity's role in economic valuation. It demonstrates how energy cost serves as the 'invisible hand' governing economic valuation. Thorough understanding of this energy connection between the human economic and the Earth's biogeochemical metabolism is essential for improving the overall energy efficiency and furthermore the sustainability of the human society.

Lali Khikhadze

Taking into account the global conjuncture at the modern stage, innovations and cognitive thinking play a key role in the effective development of small and medium-sized businesses. The rapid development of digital technologies and the emergence of diverse digital platforms gave an impetus to the transformation of entrepreneurial behavior and the conduct of entrepreneurial activities from the real to the virtual sphere. A special sector of private business - small and medium enterprises play an important role in the development of the economy and contribute significantly to ensuring sustainable and inclusive economic growth. Small and medium-sized enterprises, with the potential of employment growth and job creation, as well as their contribution to the development and growth of the economy, can be the cornerstone of the economy of any country in the world. The impact of the COVID-19 pandemic on small businesses since December 2019 and the need to adapt to new conditions has created an urgent objective need for the introduction of digital technologies and the urgency of effective use. Any force majeure circumstances: natural disasters, wars, social conflicts, epidemics and especially global pandemics have a significant impact on the long-term development of society and people's lifestyle. While the current COVID-19 pandemic is not the first in recent history, it is the first pandemic in the era of digital entrepreneurship, where the majority of our business models and value-creating enterprises are based in one way or another on digital communication and the internet. From the 20s of the 21st century, business began to move from the traditional non-virtual model, where a physical place needed to conduct business activities, to a digital model, where web sites and e-commerce platforms are increasingly used for daily business operations. The measures to contain the COVID-19 pandemic (strict isolation, social distancing, etc.) have fundamentally changed the economic and business landscape, accelerating the transition to predominantly digital business models in many regions of the world, as firms in the small business sector sought to reduce risks and maintain operations in the face of COVID-19. In the post-pandemic world caused by Digital technologies have begun to play a key role in the development of small businesses, with the impact of the COVID-19 pandemic highlighting the relevance of its use, as digital technologies have become the focus of attention and become a driving force for economic development. Despite the rapid growth of digital entrepreneurship, the transition to the 5th and 6th technological modes, the digitalization processes were significantly accelerated by the global pandemic of COVID-19, which stimulated the development and implementation of digital technologies not only in large, but also in small and medium-sized businesses. In order to determine the main trends in the transformation of small business models during the global pandemic, it is necessary to take into account the general processes of digitization in the previous quarantine period in order to reveal the dynamics of the introduction of digital technologies in the development of small enterprises using analysis and comparative methods. To identify the main trends in the use and development of digital technologies in the field of small businesses during the global pandemic, while focusing on the main changes that have taken place in the activities of small businesses during the COVID-19 pandemic. As a result of the research, the main changes and trends that occurred in the activity of small businesses during the COVID-19 pandemic were identified, and actual conclusions were formed on the possible directions of the development of small and medium businesses in the new reality using digital technologies. The COVID-19 pandemic has contributed to the digitization of small businesses, mainly due to the forced need to switch to remote work and use digital technologies not only to keep in touch with employees, but also to maintain close contact and trust with customers. Nevertheless, managers have not yet tried actively investing financial resources in training employees, mastering digital technologies at a high level, and developing information security, because historically the main problem on the way to digitization is the lack of financial resources, which has become especially acute during the global pandemic, both in developed and developing countries. Undoubtedly, it should be taken into account that it is impossible to establish universal methods to overcome the existing barriers and develop the digital component of small business, because each company must develop its own individual strategy. Taking into account the existing digital capabilities, budget, business culture, etc. digitization of small businesses does not need to radically change business models, as digital transformation can be implemented gradually and at different levels according to changes. Along with the fight against the global pandemic crisis in different ways, the new reality has created the need for remote work and telecommunications for business. A third of small and medium enterprises turned out to be fully ready for these challenges. It should also be mentioned that as the size of the companies increases, the business infrastructure and digital technologies for effective work in remote mode (on line) are greater. In the face of a global pandemic, small business enterprises can choose three paths: accelerate digitization, digitize sales functions, and find digital partners to go to market. The decision to choose one of the three digital transformation options is determined by the current level of digital maturity, business culture and history of digital technology adoption. We believe that digitalization of sales functions is essential in any scenario. It should be noted here that the movement towards the digital future is a purely individual approach for a specific business, regardless of the unity of strategies. Along with the recommendations to be considered, the digitization of small businesses and the minimization of losses as a result of the COVID-19 pandemic require significant support from the state. In the age of digital technologies, one of the main priorities of any country in the world is the development of digital entrepreneurship and society based on cognitive skills through digital technologies. Keywords: Global Pandemic, COVID-19 pandemic, small business crisis management, digital and cognitive technologies, e-commerce, digitization. JEL Codes: M20, M21, M29

María José Muñoz Arias, Marco Missaglia

Este estudio cuestiona las limitaciones ontológicas, metodológicas y epistemológicas de los paradigmas clásicos, neoclásico y marxista para repensar el problema de la transformación y la formación del valor en el circuito económico. Esta aproximación rescata el postulado filosófico de Arthur (2004), primero, para materializarlo en una ecuación teórica que represente la formación del valor en el intercambio, donde la mercancía se transforma en dinero; segundo, para tipificar las formas de reproducción del capital.

S. B. F. Dorch, J. O. Petersen

About fifty years after the work that astronomer Tycho Brahe carried out while living on the island of Hven had made him world famous, King Christian IV of Denmark built the Trinity Buildings in Copenhagen. The Tower observatory was opened in 1642, and it housed the astronomers from the University of Copenhagen until 1861 when a new, modern observatory was built at Østervold in the eastern part of the city. In 1996, all the University astronomers from the observatories at Østervold and the small town of Brorfelde were relocated to the Rockefeller Buildings at Østerbro, and the two observatories were closed. In this paper we focus on the library at the observatory in Østervold, and its subsequent fate following the close-down of that observatory.

P. Coulthard, Peter Thomson, M. Dave et al.

As routine care was suspended in most countries, one could anticipate progression of undiagnosed and managed oral disease. Patients are usually unaware of the development of oral disease as it is not visible to them and largely asymptomatic, especially in its early stages. The natural progression of conditions such as caries and periodontitis is inevitable without diagnosis and management. The full extent of patient harm because of the suspension of routine dental care can only be estimated when routine oral examinations are fully re-established, and even then, we will probably never know the number of individuals impacted or the extent of disease progression and harm. In first-world countries, there has always been a back-up emergency treatment system for dental problems. For example, in the UK, the safety net for life-threatening swellings and for acute pain relief is the accident and emergency services. This system remained in place during the COVID-19 pandemic. Courts could be expected to understand the coronavirus context and would take this into account should there be a complaint against the clinician about access to care. The suspension of routine dental care to save lives will lead to the closure of many dental practices due to substantial financial impact. The return to routine care will be slow, with prioritisation of non-aerosol generating procedures while we look to further understand methods to mitigate transmission risk via infected aerosol and spatter. Inevitably, the cost of personal protective equipment and the lower volume of patients pose a continued threat to businesses. Natural history of oral disease progression if not managed is described. Concerns about the medico-legal consequences of reduced access to dental care are discussed. The economic repercussions of the COVID-19 need for suspension of routine care and the future increased costs of practice are presented. Natural history of oral disease progression if not managed is described. Concerns about the medico-legal consequences of reduced access to dental care are discussed. The economic repercussions of the COVID-19 need for suspension of routine care and the future increased costs of practice are presented.

J. Tsai, Minda Huang, S. Rajan et al.

Background The Coronavirus Aid, Relief, and Economic Security Act of 2020 provided ‘economic impact payments’ (EIPs) of $1200 to US adults with annual personal income of $75 000 or less. This study examined the prospective association between EIP receipt and mental health outcomes. Methods A nationally representative sample of 3169 middle-income and low-income US adults completed a baseline assessment of their health and well-being in May–June 2020 and a 3-month follow-up assessment during the period of the COVID-19 pandemic when EIPs were distributed. Results Controlling for sociodemographic characteristics, EIP recipients had higher odds of reporting a positive COVID-19 test, endorsing a history of post-traumatic stress disorder and reporting any illicit drug use in the past month than participants who did not receive EIP. Participants who did not receive EIP were more likely to report a history of anxiety disorder or alcohol use disorder and recent suicidal ideation than EIP recipients. There was no association between EIP receipt and financial distress, although over one-third to over half of EIP recipients were not employed at baseline. Between baseline and 3-month follow-up, receipt of EIP was significantly associated with reduced medical conditions and alcohol use problems, but increased depression, suicidal ideation and COVID-19 era-related stress. Conclusion The EIP provided a brief income stimulus to many adults in need but was not associated with improvements in financial distress or mental health among middle-income and low-income recipients. Long-term income security and employment may be more important to improving and sustaining positive mental health outcomes.