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In China, the regional economic development model affected by government competition is an important factor leading to the income inequality of urban and rural residents. This paper aims to study the influence mechanism of tax competition among local governments on urban-rural income gap from the perspective of government intervention and tries to explain the reasons for the gradual narrowing of urban-rural income disparity since 2010. Using a dynamic panel data of 30 provinces, this study reveals that tax competition has alleviated the urban-rural income gap, and this effect shows temporal extensibility and spatial correlation. It is more obvious in eastern and central China and consistent in different local tax categories. Although tax competition has narrowed the overall income gap, the wage income inequality has been exacerbated. In addition, local fiscal autonomy, urbanization, public service provision and industrial structure are the important influencing channels of the mechanism. [ABSTRACT FROM AUTHOR]

We review the foundations of the economic development–contraception nexus, focusing on the pathways through which economic factors drive contraceptive adoption and change. We investigate the channels through which the relationship between economic development and contraceptive dynamics is mediated. Using global data, we document the correlations between economic development and contraception transitions over time and across geographies. We briefly examine the evidence of the role of fertility, both desired and realized, as a central pathway through which the relationship has been historically theorized and empirically verified. We also discuss a range of mechanisms through which economic development drives contraceptive use independently from fertility decline. Finally, we assess the state and quality of evidence of these relationships and propose directions for future inquiry. [ABSTRACT FROM AUTHOR]

Objectives: Left Ventricular Assist Devices (LVADs) for destination therapy (DT) are used in many countries but in some, like the UK, LVADs are not commissioned due to uncertainty around their cost-effectiveness. Existing economic evaluations of LVADs for these patients have limitations. This study aimed to estimate the cost-effectiveness of LVADs as destination therapy, compared to optimal medical therapy, in the UK. Methods: A cost-utility analysis from a UK healthcare perspective was conducted, using a Markov model. The model incorporated the impact of major events and complications. Sub-group analyses considered different severities of heart failure on cost-effectiveness. Uncertainty was measured in deterministic and probabilistic sensitivity analyses. Results: LVAD produced additional 2.78 (95% CI 2.46–3.14) QALYs at an incremental cost of £152,329 (95% CI £125,665 - £181,812) compared to medical management, giving an incremental cost-effectiveness ratio (ICER) of £54,748 per QALY. The ICER remained above the accepted thresholds of cost-effectiveness in the UK if a small proportion of patients receiving LVAD becomes eligible for a heart transplant and for all subgroups based on heart failure severity. The deterministic sensitivity analysis showed that the ongoing outpatient costs had a significant impact on the results. Conclusions: Our analysis found that LVADs are not cost-effective as destination therapy in the UK if a willingness to pay threshold of £50,000 per QALY gained or disease severity modifiers, were applied. Robust data on ongoing costs for LVAD and medical management are needed. [ABSTRACT FROM AUTHOR]

The work assesses this economic actor in the programmatic documents of the last three Party Congresses. It starts with some data that characterise the Cuban entrepreneurial system at the end of 2023. After this, it very briefly looks at the document Economic and Social Guidelines of the Party and the Revolution (hereafter, Guidelines) that came out of the VI Party Congress, the foundational document of the so-called process of updating the Cuban economic model. The next two sections open with a balance of the contributions and limitations of the Conceptualization of the Cuban Economic and Social Model of Socialist Development (hereafter Conceptualization) related to state-owned enterprises. Subsequently, other documents related to the 'implementation' of the Conceptualization are discussed. Finally it includes some ideas, the result of collective work, for transforming the management and the performance of this economic actor, in the midst of a critical situation that requires increasing the country's entrepreneurial capacity, stabilising the macroeconomy, and embarking on the necessary and difficult path towards a productive reconstruction. [ABSTRACT FROM AUTHOR]

Despite the vast research about discrimination, there is little evidence about how space interacts with it. Our main hypothesis is that a discriminated group could have incentives to stay together, even if the location is less dynamic—avoiding areas where firms do not usually hire workers of their group. A virtuous and/or vicious circle emerges for each group, even in the long run. Using USA as an example, this article introduces a theoretical economic model to explain the incentives of ethnic groups in terms of location. We extend the well-known model of discrimination with imperfect information to a spatial framework. The results seem to indicate that the initial population distribution and the barriers to agglomerate activity (transport costs), as well as the behavior of employees, are key elements to determine the equilibrium. As a general conclusion, discrimination processes could clearly modify the location pattern of the population. Hence, the discriminated group could suffer from lower incentives to move from non-agglomerated areas to dynamic areas. These processes could help to explain why some populations prefer to maintain their traditional location in poor areas even if there are places with higher wages or better quality of life. [ABSTRACT FROM AUTHOR]

Income inequalities between women and men often constitute an important area of research related to social inequalities. Differences in incomes between genders are frequently analyzed in the context of gender equality, social justice, and economic equity. Disparities in wages between women and men are observed in many societies. A key tool in studying wage and income distributions, as well as income inequalities, is the approximation of theoretical models to empirical data. Another important tool is the use of income inequality measures. Research on income distributions between women and men is significant for various reasons, including facilitating an understanding of social and economic inequalities. In Europe, there is diversity in economic models, with individual countries adopting different approaches to organizing their economic systems. The paper considers four European countries representing diverse economic approaches. A comparative analysis of income inequality between men and women was conducted in the countries under consideration. The study used data from the Central European Bank from 2017. All analyzes were based on the Dagum model. The maximum likelihood method was used to estimate the model parameters. The Theil coefficient decomposition was also applied. The analysis reveals that men earn the highest incomes in all countries. Visualization of the Lorenz and Zenga curves, along with calculated inequality indices, showed that the greatest income inequalities occur in women's incomes in all cases. Interestingly, it was found that men's incomes make the largest contribution to the overall income inequalities. The paper explores the topic of income inequality, which is a significant and contemporary socioeconomic challenge. It utilizes statistical information from the Eurosystem Household Finance and Consumption (HFCS) to examine and assess the financial status of households, focusing on both genders, in Finland, Germany, Poland, and Spain. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic made hotels around the world to experience a huge drop in revenues as lockdowns restricted mobility. For many hotel operators, the rent of the building is one of the most important fixed costs. The Rebus Sic Stantibus clause allows judges to rule that changes can be made to the economic conditions of contracts when a supervening event, not foreseen by the parties, causes economic hardship. This paper analyses, considering different market structures and the degree of product differentiation, how the rent for hotel facilities agreed in long-term contracts will change if the clause is applied now, reducing by law current rents. JEL Classifications : K12, K22, D43, L83 [ABSTRACT FROM AUTHOR]

This paper introduces a novel Principal-Weighted Penalized (PWP) regression model, designed for dimensionality reduction in large datasets without sacrificing essential information. This new model retains the favorable features of the principal component analysis (PCA) technique and penalized regression models. It weighs the variables in a large data set based on their contributions to principal components identified by PCA, enhancing its capacity to uncover crucial hidden variables. The PWP model also efficiently performs variable selection and estimates regression coefficients through regularization. An application of the proposed model on high-dimensional economic data is studied. The results of comparative studies in simulations and a real example in economic modeling demonstrate its superior fitting and predictive abilities. The resulting model excels in accuracy and interpretability, outperforming existing methods. [ABSTRACT FROM AUTHOR]

This study focused on religious development and explored the impact of cultural and religious tourism policies on local religions. The highlight is the use of econometric models to capture the interrelationship between supply (total number of temples) and demand (total number of followers) on religion. Using Taiwan's Mazu Cultural Tourism Festival Policies in June 2010 as an example, the impact of these policies on Taoism and Buddhism was examined from 2001 to 2021. The results showed that the believer-led model of religious development is superior to the temple-led model. When tourism policies are promoted, they positively impact Taoist temples and believers, but Buddhism does not have such a similar effect. Finally, it was found that after the millennium, when network penetration was greater, local religious beliefs showed signs of weakening. The results of the study indicate that the potential impact of the internet era on local religion deserves subsequent attention. [ABSTRACT FROM AUTHOR]

This study applies Autoregressive Distributed Lag (ARDL) cointegration method to study the impact of exchange rate fluctuations on Turkey-US trade, considering the third country effect. We estimated bilateral exports and imports of 10 industries between Turkey and the US, collected trade data between Turkey and the US and related exchange rate fluctuation indicators, and established economic models. The results show a two-way interaction effect of exchange rate fluctuations on bilateral trade. At the same time, we find that the third-country effect plays a vital role in Turkey-US trade, and changes in demand and supply from other countries indirectly impact bilateral trade. This study helps to understand the complexity and volatility of trade between Turkey and the US and provides reference for relevant economic policies. These insights help not only address challenges posed by exchange rate fluctuations and third-country effects but also promote stable and sustainable bilateral trade in an evolving global economy. [ABSTRACT FROM AUTHOR]

This research updates the study of media of proximity in Spain, addressing the in-depth study of hyperlocal digital media. The main objectives are to determine the motivations for their growth, the models they establish and the factors that condition their stability in the post-pandemic context. After mapping hyperlocal media in 2018 (n = 62), a survey was conducted among their directors to discover the motivations for their creation, the characteristics of their professional teams and business models, the conditions of news production and their relationship with the audience. The map was updated in December 2021 and a new questionnaire was provided to directors to discover its adaptation to the post-pandemic context. The results show that hyperlocal media in Spain have established their own organizational, productive and economic model. The commitment of the directors to providing the community with the information they need from their own neighborhoods is evident, as well as the human and economic resource limitations they must face. The pandemic has strengthened the relationship with the audience, the news service mission, and the search for new financing models. [ABSTRACT FROM AUTHOR]

Islamists have been variously seen as close to the radical Left or the radical Right. We outline the basic features of socialism, fascism, and Islamism as social blueprints and then subject them to some economic models of political change. Since socialism bifurcated into a radical and a moderate branch (communism and social democracy) whereas fascism never did, we ask if any such bifurcation can be expected of Islamism. We find that socialism could, while fascism and Islamism could not, harness the self-interest of an already existing reform sector that would drive the political transformation. [ABSTRACT FROM AUTHOR]

The Austrian school of economics was well within the mainstream of economic thought into the 1930s. By mid-twentieth century the Austrian school had established a distinct identity, partly because of methodological developments in mainstream economics, but moreso because of its policy conclusions. Austrian school was best known for its claim that rational economic calculation was not possible without markets and market prices, challenging the mainstream view that looked favorably on central economic planning. In addition, the Austrian business cycle theory challenged the Keynesian macroeconomics that dominated macroeconomic thought up through the mid-1970s. While there were methological differences between the Austrian school and the mainstream, these policy differences defined the Austrian episode. By the end of the twentieth century, the Austrian school had won the economic calculation debate, Keynesian macroeconomics had been displaced, and the methodological differences between the Austrian school and the mainstream had narrowed. The Austrian episode had passed. In the twenty-first century, the Austrian school's ideas, still relevant, have been combined with complementary ideas from other heterodox traditions, diminishing the distinctive identity the Austrian school had in the second half of the twentieth century. [ABSTRACT FROM AUTHOR]

Food systems face significant environmental challenges, necessitating a shift towards sustainability and resource efficiency. Implementing circular economy principles and adopting new business models can significantly contribute to more sustainable food systems. These approaches address major issues in the linear economic model, such as excessive food loss and waste, resource depletion, and market volatility. However, due to various barriers, adopting new circular food systems confronts sluggish progress. This study identifies the hierarchical structure and cause-and-effect relationships of these barriers using the example of selected food systems in Berlin-Brandenburg, Germany. Employing the Fuzzy-DEMATEL analysis approach, this research identifies four primary causal barriers and four effect barriers classified across market development, finance, technological availability, knowledge management, as well as institutional domains. Furthermore, the study ranks these barriers based on their significance. It reveals that the top barriers are poor product design and waste management infrastructure, insufficient quantity and quality of material flow, and a lack of collaboration in the supply chain. In addition, weak policies, along with their inadequate evaluation and monitoring, act as the most influential causal barriers. These findings hold significant implications for practitioners and policymakers striving to promote the transition to circular food systems through innovative business models. Practitioners are advised to prioritize collaborations with different stakeholders to ensure proper waste management, by-product valorization, and resource efficiency. Concurrently, policymakers should enact supportive policies and effective governance structures based on the needs of the businesses and its stakeholders. [ABSTRACT FROM AUTHOR]

Empirical studies on the relationship between shareholder litigation and corporate disclosure obtain mixed results. We develop an economic model to capture the endogeneity between disclosure and litigation. Equilibrium disclosure is determined by two countervailing effects of litigation, a deterrence effect and an insurance effect. We derive four key results. (i) Decreasing litigation risk leads to less disclosure of very bad news, due to a weakening of the deterrence effect, but to more disclosure of weakly bad news, due to a weakening of the insurance effect. (ii) Given a sufficiently large information asymmetry, litigation risk dampens (boosts) overall disclosure of bad news for low (high) litigation risk firms. (iii) Capital markets respond more to the disclosure of bad news than of good news if the deterrence effect is strong, which arises if both insiders' penalties and litigation risk are high. (iv) In an extension, we highlight real effects of litigation on corporate innovation and establish that innovation first decreases and then increases (strictly decreases) with litigation risk if insiders' penalties are small (large). We reconcile our findings with results from a large set of U.S.-based empirical studies and make several novel predictions. [ABSTRACT FROM AUTHOR]

The correction notice addresses textual errors and typos in the Review of Literature and Results section of an article on women's time use and unpaid domestic work in India. It highlights the importance of recognizing women's economic contributions historically overlooked and emphasizes the need for more equitable distribution of unpaid work. The correction also includes revised paragraphs and a Robustness Test section that analyzes the impact of education and generational households on time spent on unpaid domestic work by women. [Extracted from the article]

Various social science literatures suggest that the general character of macroeconomic models reflects their assumptive base. A more specialist literature in the Weintraub-Boumans-Morgan tradition shows how the mathematics of those models moulds together logical implications of particular starting assumptions, insights from generally accepted theoretical propositions, and professionalised common-sense about how the world works. I go one step further in arguing that a process of narrative moulding operates in tandem with this mathematical moulding. A naming strategy provides the mathematical properties of macroeconomic models with economic labels to create the feeling that they are something more than a merely mathematical structure. A storytelling strategy then informs policy-makers of where the solution to the system of equations positions the outer limits of both political desirability and political possibility. Future dedicated research programmes into the narrative dimensions of macroeconomic models can be expected to shed further light on how theory models can masquerade as policy models and substitute models as surrogate models. [ABSTRACT FROM AUTHOR]

Introduction: The goal of this economic model is to estimate an economically justifiable price (EJP) for using donanemab for the treatment of early symptomatic Alzheimer's disease (AD) in the United States based on clinical data from the phase 3 TRAILBLAZER-ALZ 2 trial (NCT04437511). Methods: We adapted an AD Markov state-transition model developed by the Institute for Clinical and Economic Review to estimate the EJP for donanemab at different willingness-to-pay (WTP) thresholds from the health care system perspective and the societal perspective as co-base cases. Results: Assuming a WTP threshold of $150,000 per quality-adjusted life-year (QALY) gained, the model estimates a 1-year (13-dose) EJP for donanemab of $80,538 from the health care system perspective and $91,126 from the societal perspective; at a WTP threshold of $100,000 per QALY gained, the model estimates a 1-year (13-dose) EJP for donanemab of $44,691 from the health care system perspective and $55,419 from the societal perspective. Mean total treatment costs per patient at the $150,000 per QALY gained EJP derived from the health care system perspective were estimated at $77,812 based on the average number of doses of donanemab patients received in the co-base case analysis. One-way sensitivity analysis (OWSA) indicated that treatment efficacy, disease severity at the time of treatment initiation, and duration of treatment effect were the main drivers of the potential EJP. Conclusions: Results from this modeling simulation informed by the TRAILBLAZER-ALZ 2 study support an EJP for limited-duration treatment with donanemab that exceeds per-dose list prices for currently available amyloid-targeting therapies, implying potentially lower lifetime costs and better value for money. [ABSTRACT FROM AUTHOR]

We investigate the distinct associations between Supplemental Nutrition Assistance Program (SNAP) participation and different experiences of food‐related hardship. Using a generalization of the Rasch model with USDA Economic Research Service 2022 data for 10 adult‐referenced food security survey items, we find evidence of uniform differential item function. The gap in odds of response between the first item (food‐related worry) and the third item (difficulty acquiring balanced meals) was larger for SNAP households than for non‐SNAP households. Similar differences were observed for other survey items. We consider whether SNAP policy or program changes could increase beneficial impacts differentially for particular food‐related hardships. [ABSTRACT FROM AUTHOR]

Economic growth growth is crucial to improve community welfare in the long term. Although Indonesia's economic growth is on an upward trend, Indonesia must remain vigilant in its relationship with the global world due to the rapidly changing and highly uncertain dynamics. Indonesia's economic growth is also inseparable from the influence of various provinces' economic growth, which varies due to the economic dynamics between regions. These dynamics can influence the region's contribution to national economic growth. Therefore, identifying the important role of the determining factors of economic growth and appropriate policies in dealing with economic dynamics between regions is crucial because sustainable economic growth is also essential for improving community welfare. This study examines the determinants of Indonesia's economic growth from a regional economic perspective, using a Dynamic Panel Data analysis model with three estimation models. The first model focuses on the primary variables of technological progress, population, and investment. The second model adds the human capital variable, while the third model further incorporates the variables of open economy, economic structure changes, and income inequality. The study utilizes data from the Indonesian Central Statistics Agency, covering 27 provinces from 2015 to 2022. The results indicate that increased technological progress, population, investment, human resources, economic openness, and economic structure changes can increase economic growth, while inequality of income harms economic growth. This research has implications that in creating determinant conditions for conducive economic growth, it needs to be carried out evenly in all provinces in Indonesia. [ABSTRACT FROM AUTHOR]

Adoption of high-yielding, early maturing and drought-resistant varieties is a good adaptation strategy to cope with the adverse effects of climatic events like frequent occurrence of drought and heat stress. Kufri Pukhraj, an early bulking cultivar that is, drought tolerant and moderately resistant to late blight, is the most popular potato variety in India, covering 33% of total potato area. This paper assesses the gross returns from the investment in Kufri Pukhraj using the economic surplus method in a closed economy condition at all-India level. Time-series published data from various sources have been used in this study. A total of 41-year period (1978–2018) is considered to estimate the benefits in an ex-post framework using actual data. The analysis of varietal diversity of potato revealed that 11 out of 66 varieties are most popular and share about 75% of total potato area in India. These varieties are early-to-medium maturing and medium-to-high tolerant to drought. The findings show that R&D investment on Kufri Pukhraj has led to enormous benefits to both consumers and producers. The total surplus accrued to economy is estimated as Rs 540,840 million during 1978 to 2018. The net present value of returns was Rs 157,720 million and Rs 63,600 million at 5% and 8%, respectively. The study has found internal rates of return of 48%, which is a good rate of returns. Sensitivity analyses also showed good returns, with total economic surplus ranging from Rs 293,220 million to Rs 814,950 and internal rates of return ranging between 45 and 50%. Results imply that the investment in R&D of Kufri Pukhraj has proven to be successful and beneficial in India. The study recommends that other popular varieties equipped with other traits should be evaluated for shaping future research policies of potato. [ABSTRACT FROM AUTHOR]

This paper examines whether open-source software (OSS) provides unique advantages in the entrepreneurial crowdfunding context. The economic model for new ventures with business plans centered on OSS is often counterintuitive to early-stage investors. On the one hand, the non-restrictive OSS approach reduces the barriers to widespread product adoption and collaboration; on the other, OSS is essentially a public good, creating a scenario where anyone can appropriate value from the product without compensating its creators. As such, an OSS approach can dissuade investors primarily concerned with appropriating value for themselves, making it difficult for early-stage OSS ventures to attract investors. However, the rapid rise of crowdfunding has created a communally minded investor base that might instead find OSS projects enticing. We theorize that the attributes of OSS projects align with the communal expectations of crowdfunding investors and thus create supportive environments for OSS-based ventures. We illustrate this alignment through the community-based resource mobilization framework and suggest that the OSS approach yields greater investor trust, leading to superior financing outcomes. Our mixed methods approach blends archival analyses of Kickstarter data with a constructive replication through a randomized experiment, providing consistent support that an OSS approach can be advantageous in the crowdfunding context. Plain English Summary: Can rewards-based crowdfunding open new doors to finance open-source software (OSS) projects? Our research suggests that crowdfunding backers are more likely to support OSS projects because they are perceived as more trustworthy. While the economic principles of OSS can be counterintuitive, OSS promotes widespread product adoption and collaboration. This allows anyone to benefit from OSS. Our research builds on the notion that crowdfunding, much like OSS, is a communal endeavor. We leverage data from the rewards-based crowdfunding platform Kickstarter.com and a controlled experiment, finding a connection between projects that espouse the OSS approach and crowdfunding success. The culmination of the two studies advances knowledge of the unique preferences of crowdfunding backers and suggests that the crowdfunding context is fertile ground to bring new insights into OSS-focused start-ups. [ABSTRACT FROM AUTHOR]

This paper is based on panel data from 278 prefecture-level cities in China from 2012 to 2021, and studies the relationship between healthy real estate development, land finance, and economic growth. The findings indicate that there are distinct trends in the healthy development of real estate across different city levels in China. By using the PVAR model, the intrinsic connections between real estate health, industrial transformation and upgrading, and economic growth are revealed. The results from the heterogeneity analysis show that the lag periods of real estate health, land finance, and economic growth have a positive impact on themselves in municipalities, provincial capitals, and prefecture-level cities. In prefecture-level cities, there is a significant interactive promotion between healthy real estate development and land finance. Land finance can directly contribute to economic growth, forming a "land finance-economic growth" direct effect channel. Additionally, healthy real estate development has a significant positive impact on promoting economic growth. [ABSTRACT FROM AUTHOR]

The transformation of the energy system towards sustainable energy sources is characterized by an increase in weather dependent distributed energy resources (DER). This adds a layer of uncertainty in energy generation on top of already uncertain load distribution. At the same time, many households are fitted with renewable generation units and storage systems. The increased intermittent generation in the distribution grid leads to new challenges for the commitment and economic dispatch of DER. The main challenge addressed in this work is to decide which available resources to select for a given task. To solve this, we introduce Stochastic Resource Optimization (SRO), a general purpose, combinatorial, chance-constrained optimization model for the short-term economic selection of stochastic DER. It incorporates correlations between stochastic resources are using copula theory. The contributions of this paper are twofold: First, we validate the applicability of the SRO formulation on a simplified congestion management use-case in a small neighbourhood grid comprised of prosumer households. Second, we provide an analysis of the performance of different solving algorithms for SRO problems and their run-times. Our results show that a fast metaheuristic algorithm can provide high quality solutions in acceptable time on the evaluated problem sets. [ABSTRACT FROM AUTHOR]

Copyright of International Journal of Professional Business Review (JPBReview) is the property of Open Access Publications LLC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Groundwater depletion in arid regions poses a significant threat to agricultural sustainability and rural livelihoods. This study employs geospatial analysis and economic modeling to address groundwater depletion in the arid Barind region of Northwest Bangladesh, where 84% of the rural population depends on agriculture. Using remote sensing and GIS, we developed an elevation map revealing areas up to 60 m above sea level, exacerbating evaporation and aquifer dryness. Field data collected through Participatory Rural Appraisal tools showed farmers exhibiting "ignorant myopic" behavior, prioritizing short-term profits over resource conservation. To address this, an Increasing Block Tariff (IBT) water pricing model was developed, dividing water usage into three blocks based on irrigation hours: 1–275 h, 276–550 h, and 551+ h. The proposed IBT model significantly increases water prices across the three blocks: 117 BDT/hour for the first block (from current 100–110 BDT/hour), 120 BDT/hour for the second block, and 138 BDT/hour for the third block. A demand function (y = −0.1178x + 241.8) was formulated to evaluate the model's impact. The results show potential reductions in groundwater consumption: 59 h in the first block, 26 h in the second block, and 158 h in the third block. These reductions align with the principles of integrated water resource management (IWRM): social equity, economic efficiency, and environmental integration. The model incorporates economic externalities (e.g., well lifting costs) and environmental externalities (e.g., crop pattern shifts), with total costs reaching 92,709,049 BDT for environmental factors. This research provides a framework for sustainable groundwater management in arid regions, potentially reducing overextraction while maintaining agricultural productivity. The proposed IBT model offers a locally driven solution to balance resource conservation with the livelihood needs of farming communities in the Barind tract. By combining remote sensing, GIS, and economic modeling, this research provides a framework for sustainable groundwater management in arid regions, demonstrating the power of geospatial technologies in addressing complex water resource challenges. [ABSTRACT FROM AUTHOR]

This paper examines the relationship between insurance development, population, economic growth, and health expenditures for a panel of 31 OECD countries over the period 1995–2021. A dynamic panel data analysis based on cointegration, FMOLS, DOLS, VECM, and Granger causality tests is employed to suggest for the existence of a long-run relationship among variables. The long-run results show that insurance development, national income, and population exhibit positive impacts on health expenditures. The results reveal that insurance factor has larger income effects than substitution effects on health expenditures. Regarding the short-run causal relationship between the variables, the empirical results suggest that economic growth strengthens health expenditure growth, while insurance growth reduces it. In the short-run, insurance development has a crowding-out effect since it produces larger substitution effects than income effects. The results provide political implications that governments need to concern the short-run crowding-out effect of private insurance sections on health expenditures when making fiscal policies on public health expenditures. [ABSTRACT FROM AUTHOR]

The land sector is anticipated to play an important role in achieving U.S. GHG emissions targets by reducing emissions and increasing sequestration from the atmosphere. This study assesses how much different levels of investment could stimulate land-based mitigation activities in the U.S. By applying a dynamic economic model of the land use sectors, with representation of 26 forestry and agricultural mitigation strategies across 11 U.S. regions, the study shows that annual investments of $2.4 billion could deliver abatement of around 80 MtCO2e annually. Under an optimal allocation of investments, the forestry sector and the Corn Belt are projected to receive the largest share of funds. Restricting land-based activities eligible for funds significantly reduces overall potential mitigation. For instance, if $24 billion investments are allocated only to agricultural activities, mitigation declines by 48% to 54 MtCO2e/yr over the next ten years. Finally, the level of abatement from each policy depends on the timing of implementation as the lowest cost mitigation actions are generally taken by the policy implemented first. There are continuing questions on how much investments in land-based mitigation activities could deliver in terms of abatement. This study shows that annual investments of $2.4billion in the U.S. land could deliver abatement of around 80 MtCO2e/yr. [ABSTRACT FROM AUTHOR]

Background and objectives: Preterm birth (PTB) affects ~10% of births worldwide; however, most literature focused on short-term clinical outcomes, with much less focus on long-term socioeconomic outcomes after PTB. We examined associations between PTB and individuals' income, employment, and educational outcomes during early adulthood. Methods: We conducted a population-level matched cohort study including all live births in Canada between 1990 and 1996, followed until 2018. Outcomes included Employment income per year in 2018 CAD and employment between ages 18 and 28 years, postsecondary education enrollment (18–22 years), and maximum educational attainment at age 22–27 years. Mean differences and risk ratios (RR) and differences (RD) were estimated using generalized estimating equation regression models for economic outcomes and multinomial logistic regression models for educational outcomes. Results: Of 2.4 million births, 7% were born preterm (0.3%, 0.6%, 0.8%, and 5.4% born extremely preterm (24–27 weeks), very preterm (28–31 weeks), moderately preterm (32–33 weeks), and late preterm (34–36 weeks) respectively). After matching on baseline characteristics (e.g., sex, province of birth, and parental demographics) and adjusting for age and period effects, preterm-born individuals, on average, had $958 CAD less employment income per year (95% CI: $854-$1062), 6% lower income per year, than term-born individuals, and were 2.13% less likely to be employed (1.98–2.29%). PTB was also negatively associated with university enrollment (RR 0.93 (0.91–0.94) and graduation with a university degree (RR 0.95 (0.94–0.97)). Mean income differences for those born 24–27 weeks were -$5,463 CAD per year (17% lower), and adjusted RR were 0.55 for university enrollment and graduation. Conclusion: In this population-based study, preterm birth was associated with lower economic and educational achievements at least until the late twenties. The associations were stronger with decreasing GA at birth. Policymakers, clinicians, and parents should be aware that the socioeconomic impact of PTB is not limited to the early neonatal period but extends into adulthood. [ABSTRACT FROM AUTHOR]

Public health events (PHEs) have emerged as significant threats to human life, health, and economic growth. PHEs, such as COVID-19, have prompted a reevaluation for enhanced regular prevention and control (RPC). In this study, we focus on the core concept of prevention and control intensity (PCI), and establish a neoclassical economic growth model from the long-term and macro perspective to balance life protection and economic growth. The model construct the mechanism of PCI on economic growth through population dynamics and capital accumulation under the backdrop of RPC for PHEs. We find the conditions for PCI when the economy achieves steady state, and provides an algorithm establishing the optimal strategy that maximises per capita disposable income based on the optimal PCI and consumption. Simulation result quantifies an inverted U-shaped relationship between PCI and capital per capita, output per capita and consumption per capita in the steady state. The model suggests that, given the PHEs of inducing potential unemployment shock, it is worthwhile to combine the implementation of moderate PCI with coordinated policies of income distribution. Highlights: • Building a Neoclassical economic growth model under public health events (PHEs). • Model links regular prevention and control (RPC) to macroeconomic factors. • Exploring mechanism of RPC for PHEs on economic growth. • Appropriate prevention and control intensity can engender economic growth. [ABSTRACT FROM AUTHOR]

Objective: To estimate the potential economic burden of long COVID in Australia. Design: A stock‐and‐flow model of weekly estimated numbers of people with long COVID (January 2021 to June 2023); application of proxy cost estimates from people living with myalgic encephalomyelitis/chronic fatigue syndrome; time series analysis of labour market and social security datasets. Setting: The working age Australian population. Main outcome measures: The likely number of Australians severely impacted by long COVID; the economic cost of long COVID; and the impacts of long COVID, determined by analysis of labour market data. Results: At its peak in late 2022, between 181 000 and 682 000 Australians may have experienced some long COVID symptoms, of whom 40 000–145 000 may have been severely affected. Severe cases potentially decreased to affecting 10 000–38 000 people by June 2023. The likely economic burden of long COVID in Australia during 2022 was between $1.7 billion and $6.3 billion (some 0.07% to 0.26% of gross domestic product). Labour market data suggest that between 25 000 (February 2023) and 103 000 (June 2023) more working age Australians reported being unable to work due to long term sickness than would have been predicted based on pre‐COVID‐19 trends. This does not appear to have translated into increased claims for Disability Support Pensions, but numbers of working age Carer Allowance recipients have grown markedly since 2022. Conclusions: Long COVID likely imposed a small but significant aggregate toll on the Australian economy, while exposing tens of thousands of Australians to substantial personal economic hardship and contributing to labour market supply constraints. Yet while some signal from long COVID is discernible in the labour force data, Australia lacks adequate direct surveillance data to securely guide policy making. [ABSTRACT FROM AUTHOR]

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The expanding application of advanced analytics in insurance has generated numerous opportunities, such as more accurate predictive modeling powered by machine learning and artificial intelligence (AI) methods, the utilization of novel and unstructured datasets, and the automation of key operations. Significant advances in these areas are being made through novel applications and adaptations of predictive modeling techniques for insurance purposes, while, concurrently, rapid advances in machine learning methods are being made outside of the insurance sector. However, these innovations also bring substantial challenges, particularly around the transparency, explanation, and fairness of complex algorithmic models and the economic and societal impacts of their adoption in decision-making. As insurance is a highly regulated industry, models may be required by regulators to be explainable, in order to enable analysis of the basis for decision making. Due to the societal importance of insurance, significant attention is being paid to ensuring that insurance models do not discriminate unfairly. In this special issue, we feature papers that explore key issues in insurance analytics, focusing on prediction, explainability, and fairness. [ABSTRACT FROM AUTHOR]

This study examines the readiness of Sultan Qaboos University (SQU) students for the knowledge-based economy, focusing on their awareness, perceptions, and skills. As Oman transitions towards a knowledge-based economic model, understanding and enhancing students' preparedness has become crucial. This research employs a quantitative approach, utilizing a questionnaire distributed to SQU students across various colleges and academic levels, achieving a 66.04% response rate. The key findings reveal that while many students consider knowledge economy skills very important, some express neutral awareness about these skills. Students ranked creativity and innovation (85.82%) and critical thinking and problem solving (85.11%) as the most essential skills. The study identifies significant relationships between enhancing students' knowledge-based economy skills (ESKBE) and both awareness of the knowledge-based economy (AWS) and the impact of technology on education and employment (ITEE). Students generally view the knowledge economy positively, with 55% agreeing it will have a positive societal impact. However, they recognize challenges, including resistance to change (53.5% agreement) and limited access to education and training (49.3% agreement). The need for government involvement in addressing these challenges was strongly emphasized (54.3% agreement). Based on these findings, the study recommends that SQU enhance its curriculum to explicitly develop key skills, improve awareness of knowledge economy demands, further integrate technology into educational practices, strengthen industry partnerships, promote lifelong learning initiatives, and engage more actively with policymakers. This paper also provides a unique look at higher education's role in the changing economy, as seen through graduates. It offers empirical evidence for the necessity of universities to change to serve the knowledge economy and, at the same time, make a case on how complex this transformation is. The results matter not only for SQU but also—in a more general sense, at least as far as knowledge-based economies are concerned—globally with respect to higher education institutions. [ABSTRACT FROM AUTHOR]

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Objective: To estimate the potential economic burden of long COVID in Australia. Design: A stock‐and‐flow model of weekly estimated numbers of people with long COVID (January 2021 to June 2023); application of proxy cost estimates from people living with myalgic encephalomyelitis/chronic fatigue syndrome; time series analysis of labour market and social security datasets. Setting: The working age Australian population. Main outcome measures: The likely number of Australians severely impacted by long COVID; the economic cost of long COVID; and the impacts of long COVID, determined by analysis of labour market data. Results: At its peak in late 2022, between 181 000 and 682 000 Australians may have experienced some long COVID symptoms, of whom 40 000–145 000 may have been severely affected. Severe cases potentially decreased to affecting 10 000–38 000 people by June 2023. The likely economic burden of long COVID in Australia during 2022 was between $1.7 billion and $6.3 billion (some 0.07% to 0.26% of gross domestic product). Labour market data suggest that between 25 000 (February 2023) and 103 000 (June 2023) more working age Australians reported being unable to work due to long term sickness than would have been predicted based on pre‐COVID‐19 trends. This does not appear to have translated into increased claims for Disability Support Pensions, but numbers of working age Carer Allowance recipients have grown markedly since 2022. Conclusions: Long COVID likely imposed a small but significant aggregate toll on the Australian economy, while exposing tens of thousands of Australians to substantial personal economic hardship and contributing to labour market supply constraints. Yet while some signal from long COVID is discernible in the labour force data, Australia lacks adequate direct surveillance data to securely guide policy making. [ABSTRACT FROM AUTHOR]

What happens when patients suddenly stop their medications? We study the health consequences of drug interruptions caused by large, abrupt, and arbitrary changes in price. Medicare's prescription drug benefit as-if-randomly assigns 65-year-olds a drug budget as a function of their birth month, beyond which out-of-pocket costs suddenly increase. Those facing smaller budgets consume fewer drugs and die more: mortality increases 0.0164 percentage points per month (13.9%) for each $100 per month budget decrease (24.4%). This estimate is robust to a range of falsification checks and lies in the 97.8th percentile of 544 placebo estimates from similar populations that lack the same idiosyncratic budget policy. Several facts help make sense of this large effect. First, patients stop taking drugs that are both high value and suspected to cause life-threatening withdrawal syndromes when stopped. Second, using machine learning, we identify patients at the highest risk of drug-preventable adverse events. Contrary to the predictions of standard economic models, high-risk patients (e.g. those most likely to have a heart attack) cut back more than low-risk patients on exactly those drugs that would benefit them the most (e.g. statins). Finally, patients appear unaware of these risks. In a survey of 65-year-olds, only one-third believe that stopping their drugs for up to a month could have any serious consequences. We conclude that far from curbing waste, cost sharing is itself highly inefficient, resulting in missed opportunities to buy health at very low cost ($11,321 per life-year). [ABSTRACT FROM AUTHOR]

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We develop an economic model of transitions in and out of employment. Heterogeneous workers switch employment status when the net benefit from working, a Brownian motion with drift, hits optimally chosen barriers. This implies that the duration of jobless spells for each worker has an inverse Gaussian distribution. We allow for arbitrary heterogeneity across workers and prove that the distribution of inverse Gaussian distributions is partially identified from the duration of two non-employment spells for each worker. We estimate the model using Austrian social security data and find that dynamic selection is a critical source of duration dependence. [ABSTRACT FROM AUTHOR]

Purpose: This paper investigates the moderating role of uncertainty in the impact of monetary policy on bank liquidity creation. Design/methodology/approach: Utilizing data from Vietnam spanning 2007–2022, the paper measures uncertainty in the banking industry through the dispersion of shocks to crucial bank-level variables and considers both interest rate- and quantity-based tools of the monetary policy regime. The study regresses economic models using different econometric methods, including the generalized method of moments (GMM) estimator in the main section and the least squares dummy variable corrected (LSDVC) estimator for the robustness check. Findings: Monetary expansion enhances banks' ability to create liquidity, affirming the existence of the bank liquidity creation channel. Further analyses suggest that monetary policy adjustments aimed at regulating bank liquidity creation may be less effective in the presence of higher uncertainty in the banking system. This observation holds for both interest rate- and quantitative-based monetary policy tools, emphasizing the functioning of the monetary policy transmission mechanism through bank liquidity creation and the mitigating effect of uncertainty. Originality/value: This study contributes novel insights to the existing literature by presenting the first attempt to explore the dynamics of monetary policy transmission through the bank liquidity creation channel in the context of banking sector uncertainty. Moreover, our contribution extends to examining a multi-tool environment, incorporating both interest rate- and quantitative-based indicators. [ABSTRACT FROM AUTHOR]

Introduction: Incidence and mortality for bladder cancer has changed very little over the past 20 years. Approximately 40% of patients with high-risk nonmuscle invasive bladder cancer eventually recur/progress. It is important to understand the economic impact of disease recurrence/progression in bladder cancer. Our aim was to estimate and understand the direct costs associated with the treatment of bladder cancer from the payer's perspective in the USA, in the year of 2021, including costs for both newly diagnosed bladder cancer (stages 0a–IV) and recurrent patients. Methods: An economic model was constructed to calculate the number of patients receiving each treatment modality at every stage of disease and their respective costs. Epidemiological data were based on the CancerMPact Patient Metrics (PM) database and treatment modality data retrieved from CMP Treatment Architecture (TA), 2021 version. Resource utilization and costs were obtained from medical literature and public data sources. Only direct costs were considered. Results: There were an estimated 83,532 newly diagnosed patients with bladder cancer of all stages in 2021 with a projected total cost of treatment of ~$2.6 billion. Average cost per newly diagnosed patient varied from $19,521 (stage 0a) to $169,533 (metastatic disease). Cost profile differed substantially among the stages of disease. For the 75,760 patients that were expected to have a recurrence in 2021, an additional cost of ~$3.9 billion was estimated at an average cost per patient of $52,179. The expected total cost to treat newly diagnosed and newly recurrent patients is reported in this model, with the total cost in 2021 estimated to exceed $6.5 billion. Conclusions: Treatment and resource costs increase for bladder cancer as the disease recurs/progresses. More effective treatments that can delay recurrence/progression may reduce the economic burden associated with bladder cancer. Plain Language Summary: The costs of treating bladder cancer in the USA are high, expected to have exceeded $6.5 billion in the year 2021. The average cost for newly diagnosed patients ranges from $19,521 for the earliest stage of disease to $169,533 for metastatic disease. Average costs per patient increase upon disease recurrence and more effective initial treatments to delay disease recurrence or progression may reduce the costs associated with bladder cancer. [ABSTRACT FROM AUTHOR]

We develop and apply a dynamic economic simulation model to analyze the multi-regional impacts of, and mechanisms of recovery from, a major disaster, the HayWired scenario — a hypothetical Magnitude 7.0 earthquake affecting California's San Francisco Bay Area. The model integrates loss pathways: capital stock damage, labor supply shocks due to short-term population displacement and longer-run out-migration from damaged areas, and the exacerbating effects of damage to transportation infrastructure capital, as well as various aspects of static and dynamic economic resilience. With input substitution-based static inherent resilience and dynamic resilience in the form of optimal intertemporal and spatial investment allocation, gross output losses range from 0.5 percent to 6 percent across regions, and welfare losses are 0.4 percent statewide but can be ten times as large in hardest-hit areas. Large-scale reconstruction investment is supported by substantial interregional transfers of resources through intra-state trade. Increased output via firms engaging in the key adaptive resilience tactic of production recapture can alleviate a substantial fraction of losses—but only if upstream and downstream barriers to recovery can be lowered quickly. [ABSTRACT FROM AUTHOR]

The article from the Canadian Journal of Economics highlights the work of three distinguished economists: Brian Copeland, M. Scott Taylor, and Victoria Zinde-Walsh. Brian Copeland's research focuses on the relationship between international trade and the environment, with groundbreaking work on trade's impact on environmental outcomes. M. Scott Taylor's research delves into how international trade influences environmental quality and economic growth, while Victoria Zinde-Walsh's work centers on expanding statistical methods and econometric models to accommodate non-standard distributional assumptions. Their contributions have significantly advanced our understanding of critical economic and environmental issues. [Extracted from the article]

We present a footloose capital model in a two‐country economy and the manufacturing and natural resource sectors with heterogeneous manufacturing firms to analyze the impacts of trade liberalization and technological progress on the net capital flows, net export, and social welfare. Our main analytical result is that a lagged country initially experiences capital outflow due to the high technological gap in the manufacturing sector with increasing returns to scale, then capital inflow due to the home market effect. This corresponds with the fact that China was a net importer of manufactured goods initially, and became a net exporter recently. These results are consistent with the data obtained after the reform and opening‐up policy in 1978. [ABSTRACT FROM AUTHOR]

Economists often debate whether a country should pursue a discriminatory regional trade or the broader multilateral trade expansion. This paper contributes to the discourse by presenting empirical evidence on the impacts of regional and multilateral trade openness on economic growth of expansion in Malawi. Using the ARDL‐EC model and data spanning the period 1995–2020, the estimates show that the impact of multilateral trade openness on the long‐run growth rate is positive and statistically significant. At the disaggregated level, the results show that both intra‐ and extra‐African merchandise trade openness have positive and significant impact on the long‐run growth rate. The evidence also suggests that the impact of a change in the level of intra‐African merchandise trade openness on long‐run growth is larger than that of a similar change in the level of extra‐African merchandise trade openness. Thus, our results suggest that policymakers can pursue both regional and multilateral trade expansions simultaneously to accelerate Malawi's economic growth. To augment the benefits of trade, however, we recommend that policymakers focus on deepening intra‐African trade integration and diversifying the country's export base beyond the primary commodities; and to increase the processing of export products to enhance the dynamic benefits to spur faster growth. [ABSTRACT FROM AUTHOR]

The study employs a documentary review methodology to analyse the evolution of political discourse in postgraduate theses (master's and doctoral) defended in Peruvian universities. The review encompasses 24 theses. The study identifies trends and discursive representations related to the subjectivities, mediations, and manipulations of the involved actors. The results reveal a growing academic interest, concentrated in universities in the capital, and highlight the ideological complexity of the discourses, ranging from the defence of the economic model to the redefinition of the social contract. The investigative focus reveals the creation of imaginary realities to strengthen political figures and highlights the influence of the media on public perception. [ABSTRACT FROM AUTHOR]

Background: Prior to measles vaccine introduction in 1963, measles virus caused hundreds of thousands of annual reported cases, which led to substantial US morbidity, mortality, and costs. Similarly, congenital rubella syndrome (CRS) led to highly visible and tragic lifelong disability for thousands of Americans, before rubella vaccine introduction in 1969. The US certified national virus transmission elimination of indigenous measles in 2000 and rubella in 2004. Methods: Applying an existing integrated transmission and economic model, this analysis characterizes the net benefits of US investments in measles (1963–2030) and rubella (1969–2030) immunization assuming continued high routine immunization coverage. Due to importation risks, the US maintains two doses of both vaccines in its routine immunization schedule. Results: This analysis estimates total US costs of 8.1 billion (economics reported in 2023 US dollars) for measles immunization for 1963–2023 and 14.1 billion for rubella immunization for 1969–2023. The analysis estimates an additional approximately 1.2 billion for measles immunization and 1.5 billion for rubella immunization expected for 2024–2030. Historical and future US investments prevented an estimated approximately 237 million measles infections, 228,000 measles deaths, 193 million rubella infections, and 166,000 CRS cases. These investments imply net benefits (from avoided treatment costs minus immunization costs) of approximately 310 billion for measles and 430 billion for rubella and CRS, even without incorporating avoided productivity losses and intangible costs. Conclusions: US investments in measles and rubella immunization continue to provide enormous savings of human and financial costs and to prevent substantial mortality and morbidity. [ABSTRACT FROM AUTHOR]

Doughnut Economics is an economic model designed to overcome the negative impact that the crude use of Gross Domestic Product (GDP) can have on both society and the environment. As the model becomes more widely adopted it is important to explore the model from a theological perspective. Early Christian economic thought provides a way of exploring and challenging many of the fundamental ideas and conceptualisations of the DE model. DE has much to learn from early Christian thinkers. Firstly, a non-absolutist understanding of property can fuel calls for a more radical distribution of wealth than called for in DE, with an even greater emphasis on the process and benefits of individual almsgiving. Secondly, it shows how the limitations of the social foundation of DE has much to learn from the positive value of the ascetic lifestyle promoted by some early Christian thinkers. Finally, at a time when there are understandable concerns about the limits of the ecological ceiling, early Christian thought offers both hope and a call to action. [ABSTRACT FROM AUTHOR]

Copyright of International Journal of Professional Business Review (JPBReview) is the property of Open Access Publications LLC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)