The goal of this study is to propose a new concept, Sustainable Economic Value, to define it logically, and to build a simplified model for its evaluation.
Prevailing narratives in the historical literature often paint a picture of Sweden having some of the poorest housing conditions in Europe during the early 20th century. This article challenges this widely accepted view by presenting a first-of-its-kind systematic and comparative study of European housing conditions, with a focus on Sweden. By constructing a new database and critically examining existing data, this study seeks to reassess the common assertions about Swedish housing standards. This study shows that there is no empirical evidence to support the notion that Sweden had among the worst housing conditions in Europe in this period.
What are the effects of authoritarian regimes on scholarly research in economics? And how might economic theory survive ideological pressures? The article addresses these questions by focusing on the mathematization of economics over the past century and drawing on the history of Soviet science. Mathematics in the USSR remained internationally competitive and generated many ideas that were taken up and played important roles in economic theory. These same ideas, however, were disregarded or adopted only in piecemeal fashion by Soviet economists, despite the efforts of influential scholars to change the economic research agenda. The article draws this contrast into sharper focus by exploring the work of Soviet mathematicians in optimization, game theory, and probability theory that was used in Western economics. While the intellectual exchange across the Iron Curtain did help advance the formal modeling apparatus, economics could only thrive in an intellectually open environment absent under the Soviet rule.
Agnieszka Brelik, Wojciech Lewicki, Milena Bera
et al.
In recent years, the development of renewable energy sources has become one of the key demands in the European Union's policy. In Poland, the idea emerged that the energy potential of domestic agriculture may be an opportunity for broader use of the available agricultural biomass. Given that agricultural biogas has long been seen as one of the most promising directions for energy transition, the goal of the article was to assess the potential of the agricultural biogas market in Poland. The research methodology was based on statistical measures related to analysing the structure and changes over time in individual years. The structure analysis was carried out for selected Polish provinces, for which empirical distributions were built and selected descriptive parameters were calculated. A similar study was made in relation to selected EU countries. In addition, according to the National Action Plan for Renewable Energy, at least one agricultural biogas plant should be established in each Polish municipality. On this basis, the article assesses the ecological effect of the project on agricultural biogas in Marcinkowice, in the Zachodniopomorskie Voivodeship. The presented simulations allowed us to conclude that an agricultural biogas plant can be an ecological potential in the form of reducing the consumption of fossil fuels by reducing emissions of pollutants and greenhouse gases into the atmosphere while reducing fossil fuel consumption. It was important for the practice to confirm that investing in renewable energy sources, including the use of biogas, is part of the goals and directions of development related to the sustainable management of environmental resources and the development of renewable energy sources.
Agriculture continues to move forward confidently. Before our eyes, the agrarian industry is reviving, becoming stronger, taking a strong position at the forefront of the Russian economy. The most important achievement of 2017 was a record grain harvest of 130 million tons. This result was achieved not only by increasing the cultivated areas, which increased by 620 thousand hectares in 2017, but also thanks to the record yield, which amounted to 28 kg / ha, which is 80% higher than in 2000. The maximum harvest in the history of new and Soviet Russia, which will ensure our country a strong leadership in the world wheat market. Russian agriculture remains a driver of the country’s economic development. For the second year in a row, we get a record harvest of not only grain, but also sugar beets and sunflowers, the production of soybeans, rapeseed and greenhouse vegetables is growing. In the new season, grain exports will reach 45 million tons, including more than 35 million tons of wheat. Russia is expanding the geography of its presence, having mastered new directions for the supply of agricultural products. At the end of 10 months of 2017, grain exports increased by 22% compared to the same period in 2016 and amounted to 32 million tons. During the same time, the export of Russian wheat exceeded 24 million tons, which is 23% more than a year earlier. … In Russia, over 17 years, the volume of grain production increased 2 times, sugar beet and sunflower - 2-3 times, soybeans and rapeseed - 10, greenhouse vegetables - 1.8, poultry meat - 6, pork - 2. Fish - 2 times. Greenhouse vegetable growing and horticulture are developing intensively. Progress is being made in the development of animal husbandry and aquaculture. The dairy industry is undergoing a significant transformation, and production volumes on farms are growing. These are new growth points for the agro-industrial complex. Thanks to the achievements of domestic scientists, grain production of agricultural crops can be increased due to many factors. One of the factors is foliar dressing with liquid micro- and macro-fertilizers. Therefore, we studied various combinations of liquid micro-, macrofertilizers, as well as the bio-logical product Albit, in order to identify the best option and recommend it for produc-tion.
We examine the effect of macroeconomic stability, transparent government policies, and anti-monopoly policies on financial market development using extensive panel data of 113 countries over the period 2007 to 2017. By applying ARDL-PMG and controlling for GDP, trade openness, and market size, our findings reveal that macroeconomic stability fosters financial market development in both developing and developed countries. Effective transparency policies facilitate the link between macroeconomic stability and financial market development in the long-run. Furthermore, we find that anti-monopoly policies curb corruption and bureaucratic power to improve financial markets in the short-run. Still, a higher level of competition is more vulnerable to information asymmetry and adverse selection in the long-run.
Economic growth, development, planning, Economic history and conditions
We develop a mean-field theory of the growth, exchange and distribution (GED) model introduced by Kang et al. (preceding paper) that accurately describes the phase transition in the limit that the number of agents $N$ approaches infinity. The GED model is a generalization of the Yard-Sale model in which the additional wealth added by economic growth is nonuniformly distributed to the agents according to their wealth in a way determined by the parameter $λ$. The model was shown numerically to have a phase transition at $λ=1$ and be characterized by critical exponents and critical slowing down. Our mean-field treatment of the GED model correctly predicts the existence of the phase transition, critical slowing down, the values of the critical exponents, and introduces an energy whose probability satisfies the Boltzmann distribution for $λ< 1$, implying that the system is in thermodynamic equilibrium in the limit that $N \to \infty$. We show that the values of the critical exponents obtained by varying $λ$ for a fixed value of $N$ do not satisfy the usual scaling laws, but do satisfy scaling if a combination of parameters, which we refer to as the Ginzburg parameter, is much greater than one and is held constant. We discuss possible implications of our results for understanding economic systems and the subtle nature of the mean-field limit in systems with both additive and multiplicative noise.
The history of plague suggests that severe pandemics can have extremely important and potentially permanent asymmetric economic consequences. However, these consequences depend upon the initial conditions and could not be foretold a priori. To support this view, this short article illustrates the ability of major plagues to cause asymmetric shocks. The Black Death might have been at the origin of the Great Divergence between western Europe and East Asia, but also within Europe it had quite heterogeneous consequences. The last great European plagues of the seventeenth century favoured the rise of North Europe to the detriment of the South. Additionally, within Italy, they had a differential impact allowing for the rise of the Sabaudian State and contributing to the decline of the Republic of Venice. The article argues that the implication for today societies facing COVID-19 is that given that the final demographic and economic consequences of this pandemic are impossible to predict, collective answers to the crisis, possibly coordinated by the EU, are highly advisable.
While most employers, managers, and employees have heard and read much about the #MeToo movement, little academic attention has been devoted to ethical analysis of office romance and sexual favoritism polices in the modern workplace. Everyone is likely to agree that romantic relationships will continue in the workplace regardless of organizational policies; nevertheless appropriate, policies should be in place to protect against any adverse legal consequences stemming from romantic relationships in the workplace; and these policies also should be promulgated and enforced in such a manner that all workplace policies and actions can be considered moral and ethical. Accordingly, in this article, we provide a thorough ethical analysis of office romance and sexual favoritism in the sensitive era of the #MeToo movement as well as the “canceled culture” era. We offer specific recommendations to management and human resources professionals on how to provide a safe and healthy work environment for all employees, how to avoid liability for sexual harassment cases as they relate to Title VII of the Civil Rights Act, as well as how to ensure that the workplace is fair and just for all. We conclude that every company’s management and human resources departments should take full responsibility for ensuring that business decisions, especially those affecting the employees, are aligned with legal, moral, and, of course, ethical norms. First and foremost, appropriate policies, programs, procedures, and training are necessary to combat sexual discrimination and harassment and thus to ensure a fair, just, and functional workplace. We believe that prevention is the best means of proactively eliminating sexual harassment in the workplace. Each firm should include a clear and strong policy statement against sexual harassment and discrimination in their code of conduct expectations. The policy should have direct statement of the intolerance and prohibition of any form of sexual harassment and illegal discrimination. Each firms should also have an effective policy distribution, communication to employees and enforcement plan. Finally, retaliation must be avoided. As such, there should be assurances that complaining employees will be protected from harassment or retaliation.
Sociology (General), Economic history and conditions
We develop a result on expected posteriors for Bayesians with heterogenous priors, dubbed information validates the prior (IVP). Under familiar ordering requirements, Anne expects a (Blackwell) more informative experiment to bring Bob's posterior mean closer to Anne's prior mean. We apply the result in two contexts of games of asymmetric information: voluntary testing or certification, and costly signaling or falsification. IVP can be used to determine how an agent's behavior responds to additional exogenous or endogenous information. We discuss economic implications.
Humans differ greatly in their tendency to discount future events, but the reasons underlying such inter-individual differences remain poorly understood. The evolutionary framework of Life History Theory predicts that the extent to which individuals discount the future should be influenced by socio-ecological factors such as mortality risk, environmental predictability and resource scarcity. However, little empirical work has been conducted to compare the discounting behavior of human groups facing different socio-ecological conditions. In a lab-in-the-field economic experiment, we compared the delay discounting of a sample of Romani people from Southern Spain (Gitanos) with that of their non-Romani neighbors (i.e., the majority Spanish population). The Romani-Gitano population constitutes the main ethnic minority in all of Europe today and is characterized by lower socio-economic status (SES), lower life expectancy and poorer health than the majority, along with a historical experience of discrimination and persecution. According to Life History Theory, Gitanos will tend to adopt “faster” life history strategies (e.g., earlier marriage and reproduction) as an adaptation to such ecological conditions and, therefore, should discount the future more heavily than the majority. Our results support this prediction, even after controlling for the individuals’ current SES (income and education). Moreover, group-level differences explain a large share of the individual-level differences. Our data suggest that human inter-group discrimination might shape group members’ time preferences through its impact on the environmental harshness and unpredictability conditions they face.
The marketing dynamics of the study and praxis of persuasion present different interweavings with the time frame chosen. Even so, we consider that the only one offering a stable reference background is religious communication, because even if interpretations may differ, the basic principles of association towards individual apprehension and comprehension remain the same. It is the author intention to try to map out possible connections between persuasion, as a symbolic process, and religious symbolic communication, by assuming that, in a Biblical sense, communication is intrinsic to the act of being of all humanity.
Economic history and conditions, Economics as a science
It may occur in mariage life that the wife hates her husband and is harmed by her survival with him because, he does not give her rights or does not meet the requirements of the marriage contract. The wife may resort to the judiciary to request the dissolution of the marital union through the khul'aa ELkhoulaa, where she must agree with her husband to decipher the infallibility, and the band is called in this case dislocation.
The khul ', which the Qur'aan and Sunnah has stated, is that the husband hates to stay with her husband, and she will give him the dowry that he offered to her.
This paper develops a new model of business cycles. The model is economical in that it is solved with an aggregate demand-aggregate supply diagram, and the effects of shocks and policies are obtained by comparative statics. The model builds on two unconventional assumptions. First, producers and consumers meet through a matching function. Thus, the model features unemployment, which fluctuates in response to aggregate demand and supply shocks. Second, wealth enters the utility function, so the model allows for permanent zero-lower-bound episodes. In the model, the optimal monetary policy is to set the interest rate at the level that eliminates the unemployment gap. This optimal interest rate is computed from the prevailing unemployment gap and monetary multiplier (the effect of the nominal interest rate on the unemployment rate). If the unemployment gap is exceedingly large, monetary policy cannot eliminate it before reaching the zero lower bound, but a wealth tax can.
The Economy Watcher Survey, which is a market survey published by the Japanese government, contains \emph{assessments of current and future economic conditions} by people from various fields. Although this survey provides insights regarding economic policy for policymakers, a clear definition of the word "future" in future economic conditions is not provided. Hence, the assessments respondents provide in the survey are simply based on their interpretations of the meaning of "future." This motivated us to reveal the different interpretations of the future in their judgments of future economic conditions by applying weakly supervised learning and text mining. In our research, we separate the assessments of future economic conditions into economic conditions of the near and distant future using learning from positive and unlabeled data (PU learning). Because the dataset includes data from several periods, we devised new architecture to enable neural networks to conduct PU learning based on the idea of multi-task learning to efficiently learn a classifier. Our empirical analysis confirmed that the proposed method could separate the future economic conditions, and we interpreted the classification results to obtain intuitions for policymaking.
Systemic liquidity risk, defined by the IMF as "the risk of simultaneous liquidity difficulties at multiple financial institutions", is a key topic in macroprudential policy and financial stress analysis. Specialized models to simulate funding liquidity risk and contagion are available but they require not only banks' bilateral exposures data but also balance sheet data with sufficient granularity, which are hardly available. Alternatively, risk analyses on interbank networks have been done via centrality measures of the underlying graph capturing the most interconnected and hence more prone to risk spreading banks. In this paper, we propose a model which relies on an epidemic model which simulate a contagion on the interbank market using the funding liquidity shortage mechanism as contagion process. The model is enriched with country and bank risk features which take into account the heterogeneity of the interbank market. The proposed model is particularly useful when full set of data necessary to run specialized models is not available. Since the interbank network is not fully available, an economic driven reconstruction method is also proposed to retrieve the interbank network by constraining the standard reconstruction methodology to real financial indicators. We show that the contagion model is able to reproduce systemic liquidity risk across different years and countries. This result suggests that the proposed model can be successfully used as a valid alternative to more complex ones.