Could Cryptocurrency Policy Uncertainty Facilitate US Carbon Neutrality?

Investigating the essential impact of the cryptocurrency market on carbon emissions is significant for the U.S. to realize carbon neutrality. This exploration employs low-frequency vector auto-regression (LF-VAR) and mixed-frequency VAR (MF-VAR) models to capture the complicated interrelationship between cryptocurrency policy uncertainty (CPU) and carbon emission (CE) and to answer the question of whether cryptocurrency policy uncertainty could facilitate U.S. carbon neutrality. By comparison, the MF-VAR model possesses a higher explanatory power than the LF-VAR model;the former's impulse response indicates a negative CPU effect on CE, suggesting that cryptocurrency policy uncertainty is a promoter for the U.S. to realize the goal of carbon neutrality. In turn, CE positively impacts CPU, revealing that mass carbon emissions would raise public and national concerns about the environmental damages caused by cryptocurrency transactions and mining. Furthermore, CPU also has a mediation effect on CE;that is, CPU could affect CE through the oil price (OP). In the context of a more uncertain cryptocurrency market, valuable insights for the U.S. could be offered to realize carbon neutrality by reducing the traditional energy consumption and carbon emissions of cryptocurrency trading and mining.

Bitcoin and money supply relationship: An analysis of selected country economies

Bitcoin has become quite known after the 2008 economic crisis and the COVID-19 health crisis. For some, these cryptocurrencies constitute rebellion against the existing system as governments encourage uncontrolled expansions in the money supply;for some others, it is a quick source of income. Undeniably, the volume of the crypto money market has grown considerably in recent years, regardless of the reasoning of the people who invest and trade in this field. At this point, one of the most important questions to be investigated is "what variables have caused the tremendous growth in the crypto money quantities in recent years?" This study tests the assumption that changes in cryptocurrencies are affected by changes in national currencies. Thus, the Bitcoin price is the dependent variable, and M1 monetary supply changes in the USA, European Union and Japanese economies are considered independent variables. The variables in this study were tested using the time-varying Granger causality method. The results obtained from this study confirm the philosophy of Bitcoin's emergence and the possibility that it can be a hedge against the inflationary effects of money, especially after the COVID-19 pandemic.

BIST Tourism and BIST Electricity Index Relationship

In this study, which is based on daily data, the relationship between BIST electricity index and BIST tourism index was measured between 2012:M9 – 2022:M9 periods. The aim of the study is to measure the relationship between BIST electricity index and BIST tourism index. VAR Granger causality test was applied to determine whether there is any causal relationship between the variables. It has been determined as a result of the analysis that the BIST electricity index has no effect on the BIST tourism index. Two-way ineffectiveness was determined among the variables. In addition, it was obtained as a result of the analysis that the applied correlation relationship was weak between these variables. The results obtained from the study are important in terms of measuring the effects among BIST indices.

Íkiz Açık Hipotezi Türkiye'de Geçerliliği: Zamanla Değişen Nedensellik Analizi

Finansal ve ekonomik istikrarın sürdürülebilirliği açısından iç ve dış dengenin birlikte sağlandığı maliye politikalarının uygulanması son derece önem arz etmektedir. Bu nedenle, cari işlemler ile bütçe açıkları arasındaki ilişkinin incelenmesi politika yapıcılar, araştırmacılar ve ekonomistler arasında tartışılan önemli konulardan biri haline gelmiştir. Bu kapsamda, çalışmada Türkiye için Ocak 1998 – Aralık 2021 döneminde ikiz açık hipotezi, Granger nedenselliğin geçici istikrarını yeniden değerlendirmek amacıyla kullanılan yinelemeli algoritmalar kullanılarak araştırılmaktadır. Zamanla değişen Granger nedensellik analizden elde edilen bulgular, Türkiye'de ele alınan dönemde cari işlemler dengesi ve bütçe açığı arasında çift yönlü bir nedensellik ilişkisi olduğunu ortaya koymaktadır. Bu sonuç, Türkiye'de ikiz açık hipotezinin geçerli olduğunu ifade etmektedir. Aynı zamanda, nedensellik ilişkisinde anlamlı geçici değişimlerin olduğu gözlenmektedir. Seçim ve kriz dönemlerinde ikiz açık hipotezinin varlığı mevcut iken, 2002-2008 ve 2015-2021 dönemlerinde cari işlemler hedeflemesi politikası uygulanmaktadır. COVID-19 pandemisi döneminde ise, cari işlemler dengesi ve bütçe açığı arasında çift yönlü asimetrik aktarım mekanizmasının işlediği ifade edilebilir.Alternate :Implementing fiscal policies to ensure domestic and foreign balances together is of vital importance to sustain financial and economic stability. Therefore, investigating the relationship between budget deficit and current account deficit is one of the issues debated by popolicymakersnd economists. In this context, the existence of the win deficit hypothesis in Turkey is researched through recursive algorithms used to revaluate the temporal stability of Granger causality for the periods of January 1998-December 2021. The findings from time-varying Granger causality analysis reveal the existence of a bidirectional causality relationship between budget deficit and current account deficit. This result means the validity of the twin deficit hypothesis in Turkey. Also, the temporal changes in the so-called casualty relationships are observed significantly. During the electoral and crisis periods there is the existence of the twin deficit hypothesis wthe hileaccountnt acount targeting policy is implemented during the periods of 2002-2008 and 2015-2021. In the COVID-19 period, a bidirectional asymmetric transmission mechanism between budget deficit andcurrentt account deficit is worked can be stated.

The Granger Causality of Bahrain Stocks, Bitcoin, and Other Commodity Asset Returns: Evidence of Short-Term Return Spillover before and during the COVID-19 Pandemic

This study examines the tendency of short-term return spillover across Bahrain stocks, bitcoin, and other commodity assets factoring in the dynamic effect of the COVID-19 pandemic. The study employed vector autoregression (VAR) model using the daily returns of Bahrain All Shares Index, bitcoin, crude oil, and gold futures from January 2018 to March 2022. The results showed a persistent unidirectional short-term spillover of return from the Bahrain stock market to the futures gold market for both the period before and during the pandemic. Moreover, the results also showed that the significant positive shock in the bitcoin returns as granger-caused by the returns of the Bahrain stock market is only during the period before the pandemic. Finally, a significant negative contemporaneous short-term effect on the crude oil market returns can be statistically explained by the shocks in the Bahrain stock market only during the COVID-19 period. © 2023 IGI Global. All rights reserved.

Casualties of Causality

This book offers a critique of the present status of the concept of causality in the social sciences. "The Causality Syndrome” consists of a belief in causal studies as more important than other studies, a narrow definition of causality, and rules of thumb regarding how to make causal claims. The book argues that the present dominance of this syndrome has considerable downsides and presents a challenge to social science. The book dissects the many interconnected ideas which undergird this syndrome and offers an intellectual home for advanced students, researchers and others who are concerned about the present dominance of The Causality Syndrome. The book critically discusses whether "causality” deserves the central position in social science that its advocates desire. The text shows how methodological rules about causal inference are used to protect causal studies from critique, even in situations where these rules are not followed. It is argued that institutionalization of these rules as symbols of good and trustworthy social science is highly problematic and comes with a price. One of the casualties of causality is that there is less motivation to study complex and pressing issues in society which do not lend themselves to causal study designs. The sections are short. The argument unfolds in a lively, engaged form with examples from many fields, including public health, evaluation and organizational studies. The case examples include classical experiments as well as contemporary research, e.g. studies of the effectiveness of restrictions targeting the spread of coronavirus. © The Author(s), under exclusive licence to Springer Nature Switzerland AG 2022.

Surgical plume and its associated hazards to perioperative staff: A review of current standards for practice and risk management

Surgical plume poses a risk to perioperative nurses and the perioperative team as a whole, as well as the operative patient. Surgical plume contains various hazardous components which pose multiple health risks to the perioperative staff who are exposed to it. Further research is required in order to definitively understand the risks to perioperative staff from long-term exposure to surgical plume and to advance current policies and procedures. The current practice standard on surgical plume management from the Australian College of Perioperative Nurses (ACORN) sets out methods of reducing these risks. However, this standard's utility in practice and barriers to its implementation lead to ongoing unnecessary plume exposure. Through adhering to current practice standards and educating perioperative nurses, the risks posed by surgical plume can be mitigated. Thorough education on this topic will empower nurses to advocate for their safety and the safety of their patients, leading to the reduction of surgical plume exposure.

Immune-Mediated Organ-Specific Reactions to COVID-19 Vaccines: A Retrospective Descriptive Study.

Severe acute respiratory syndrome coronavirus 2 caused the global COVID-19 pandemic and public health crisis, and it led to the rapid development of COVID-19 vaccines, which can cause rare and typically mild hypersensitivity reactions (HRs). Delayed HRs to COVID-19 vaccines have been reported, and the excipients polyethylene glycol (PEG)2000 and polysorbate 80 (P80) are the suspected culprits. Skin patch tests do not help in diagnosing delayed reactions. We aimed to perform lymphocyte transformation tests (LTT) with PEG2000 and P80 in 23 patients with suspected delayed HRs. Neurological reactions (n = 10) and myopericarditis reactions (n = 6) were the most frequent complications. Seventy-eight percent (18/23) of the study patients were admitted to a hospital ward, and the median time to discharge was 5.5 (IQR, 3-8) days. Some 73.9% of the patients returned to baseline condition after 25 (IQR, 3-80) days. LTT was positive in 8/23 patients (5/10 neurological reactions, 2/4 hepatitis reactions and 1/2 rheumatologic reactions). All myopericarditis cases had a negative LTT. These preliminary results indicate that LTT with PEGs and polysorbates is a useful tool for identifying excipients as causal agents in HRs to COVID-19 vaccines and can play an important role in risk stratification in patients with HRs.

Challenges in Assessing COVID-19 Vaccines Safety Signals-The Case of ChAdOx1 nCoV-19 Vaccine and Corneal Graft Rejection.

The rapid and large-scale roll-out of new COVID-19 vaccines has led to unprecedented challenges in assessing vaccine safety. In 2021, the European Medicines Agency (EMA) processed about 1.7 million safety reports related to COVID-19 vaccines in the EudraVigilance (EV) database and identified more than 900 potential signals. Beyond the large amount of information to be processed, the evaluation of safety signals has faced several difficulties and limitations, both in the assessment of case reports and in the investigation of databases. The evaluation of a signal of corneal graft rejection (CGR) with Vaxzevria® was no exception to this. In this commentary, we present the challenges encountered in making regulatory decisions in the context of evolving evidence and knowledge. The pandemic crisis emphasised the importance of quick and proactive communication to address the many questions and, above all, to ensure the transparency of safety data.

Identifying and assessing the global causality among energy poverty, educational development, and public health from a novel perspective of natural resource policy optimization

With the gradual depletion of natural resources and the rapid development of renewable energy, reducing energy poverty will inevitably have a crucial impact on public health and educational development. However, the long-term cointegration link and the two-way causality among them at the global level, especially in developing countries, remain a black box, which was the initial incentive for this study. Based on annual panel data from 50 developing countries between 2000 and 2017, this study initially adopted second-generation unit root and cointegration tests to eliminate pseudo-regression. It then utilized impulse response function and Granger causality test to clearly demonstrate causality and its direction. In emerging economies and nations with high energy poverty rates, public health is positively influenced by educational development. In contrast, in non-emerging economies and countries with lower energy poverty rates, public health is negatively influenced by educational development. Thus, it is important to optimise natural resource policies to suit the local conditions. In summary, our empirical findings have implications for decreasing energy poverty, promoting educational development, and improving public health in developing countries;and for their natural resource policy formulation, especially in the post COVID-19 pandemic era.

Does foreign equity investment impact the spillover effect of industries in China?

This study aims to systematically investigate the impact of foreign equity investment on the spillover across industries in China, both in terms of the contagion path and persistence of shocks and the performance during the COVID-19 pandemic. We use daily data on returns covering 2014 to 2022 and apply linear and non-linear causality tests and spillover framework. Our findings show that the two proxies of foreign investment, net buying and Δ Net Buying, significantly shock the spillover across 11 industry indexes of China's stock market, particularly the spillover output and long-term spillover received of sectors. During the COVID-19 pandemic, international investors are bullish on China's economy reflected in the continuous inflow of northbound trading, and the short-run influence on China's stock market is weakened, while the long-run impact remains. Moreover, financial networks suggest that the path of movement international capital movement to accomplish overall contagion through shock in certain specific industries. Overall, this study evidence that the northbound trading generally overlooked by researchers is indeed an important channel of financial contagion to China's stock market.

The Causal Relationship Between Coronavirus (COVID-19) and Stock Indices: A Case Study for G20 Countries

Coronavirus (COVID-19 or SARS-CoV-2) spreads rapidly around the world. Coronavirus reached 8,000 cases on Jan 30, 2020. When the cases that lost their lives were examined, the majority of them were found to be elderly patients or patients diagnosed with chronic heart, lung and kidney, Parkinson's, and Diabetes. The number of cases worldwide was 509,164, the number of deaths worldwide was 23,335 while analyzing this study. COVID-19 also affected many economic variables in the world. Some of these variables are stock indices. In this study, it is aimed to discover the causal relationship between stock indices and coronavirus. Daily data were used in the research. Stock indices and total deaths and total cases of coronavirus are matched for each country. Unit root tests, Pairwise Granger Causality Tests, and regression analysis were made. The stationarity and level of significance were calculated. Causality Tests used to test hypotheses regarding the presence and the direction of causality. © 2023, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

Testing the Price Bubbles in Cryptocurrencies using Sequential Augmented Dickey-Fuller (SADF) Test Procedures: A Comparison for Before and After COVID-19

Bubbles in asset prices have attracted the attention of economists for centuries. Extreme increases in asset prices, followed by their sudden decline, create a turbulent effect on the economy and even invite crises in time. For this reason, some measurement techniques have been employed to investigate the price bubbles that may occur. This study explores the possible speculative price bubbles of Bitcoin, Ethereum, and Binance Coin cryptocurrencies, compares them with the pre-and post-COVID-19 period, and examines asymmetric causality relationships between variables. Therefore, we analyzed the price bubbles of these cryptocurrencies using the closing price for daily data between 16.01.2018 and 31.12.2021 by the Supremum Augmented Dickey-Fuller (SADF) and the Hatemi-J (2012) asymmetric causality test. In this context, 1446 observations, 723 of which were before COVID-19 and 723 after COVID-19, were employed in the study. Looking at the SADF analysis results, we detected 103 price bubbles before COVID-19 for the three cryptocurrencies, while we determined 599 price bubbles after COVID-19. The common finding in the asymmetric causality test results is that there is a causality relationship between the negative shocks faced by one cryptocurrency and the positive shocks faced by the other cryptocurrencies.

Sociology in times of pandemic: Metatheoretical considerations and the example of the Covid-19 crisis

The Covid-19 crisis initiated debates among sociologists concerning metatheoretical principles of sociology and how sociological analyses should be done in times of pandemic. We discuss the methodological basis of the explanatory sociology approach and demonstrate its relevance in times of pandemic. We start with the paradigm of realism and then proceed to the guiding principles of causality and methodological individualism. It is argued that this is the appropriate and reasonable epistemological basis for sociology and enables explanation of social phenomena as well as prediction of unintended consequences of social interventions associated with the Covid-19 crisis. We state that this sort of sociology now is disputed neither within the scientific community nor outside in the media and the general society, although this had been the case constantly before the pandemic. © The Author(s), under exclusive license to Springer Fachmedien Wiesbaden GmbH, part of Springer Nature 2021.

Sánchez Arévalo, J. L., Moreira de Sousa, G., & Malta Meurer, R. (2022). Causal effect between the Ibovespa stock market and Shanghai, S&P500, Merval and Nikkei indicators. Cuadernos de Economía

This paper analyzes the causal relationship between the Brazilian stock market indicator and other stock exchange indicators. Specifically, the study time incorporates the world crisis caused by the covid-19 and the war over the price of oil. Were used the differentiated series considering the existence of a unit root, the VAR and Granger Causality models were subsequently estimated. The results show that the causality between the Ibovespa with the S&P500 and Nikkei is bidirectional. These results are consistent when relating the degree of commercial exchange and the origin of foreign investment in Brazil. © 2023, Cuadernos de Economia (Colombia). All Rights Reserved.

Global Systemic Risk Dynamic Network Connectedness during the Covid-19: Evidence from Nonlinear Granger Causality

This study examined the global systemic risk network connectedness during the COVID-19 pandemic by focusing on the stock, bond, and foreign exchange markets of 14 countries (2000–2021). We found that the commonality among multiple markets was high, while the systemic risk of COVID-19 was smaller than that of the 2007–2008 financial crisis. Additionally, the exposure of bond markets to systemic risk was larger than the exchange rate and stock markets. Although the stock and bond markets were the main sources of risk during the pandemic, the foreign exchange market had the strongest connection with the global financial network.

A Systematic Review of New Rheumatic Immune-Mediated Inflammatory Diseases (R-Imid) Following Sars-Cov-2 Vaccinations

Background/Aims There are sporadic reports about the development of new rheumatic immune-mediated inflammatory diseases (R-IMIDs) in adults after receiving SARS-CoV-2 vaccines. This systematic review (SR) aimed to critically review and summarize the clinical profile, patient demographics, treatment, and prognosis of new-onset R-IMIDs following SARS-CoV-2 vaccination. Methods We retrieved English-language articles (Case reports and series and observational studies) on new-onset R-IMIDs following SARS-CoV-2 vaccination, published until June 2022, from standard databases (MEDLINE, Embase, Cochrane). The search strings used during the literature search incorporated 'SARS-CoV-2 vaccination' (along with related MeSH terms) and various key terms for R-IMIDs [which included (but was not limited to) inflammatory arthritis, connective tissue disease (CTD), vasculitis, systemic lupus erythematosus, Sjogren's syndrome, sarcoidosis, systemic sclerosis, idiopathic inflammatory myositis, anti-synthetase syndrome, Adult-onset Stills disease (AOSD), giant cell arteritis (GCA), and polymyalgia rheumatica (PMR)]. The protocol was registered in PROSPERO (CRD42022318561). Results Of the total 2179 articles retrieved, 1986 articles were excluded following the title- screening, and 107 articles that did not meet inclusion criteria. We included the remaining 86 articles (130 cases) upon full-text screening. Furthermore, we added four articles (six cases) based on a manual search, comprising 90 articles (136 cases) for final analysis. These 136 new R-IMID cases were reported from 27 different countries. Of these, more than one-third of the cases were reported from three countries (viz., Italy, Japan, and the USA). The patients had a mean age of 57 (range:17-90) years, and the majority were females (63.0%). Most patients developed R-IMIDs after receiving Pfizer-BioNTech vaccine (76;55%), followed by Oxford AstraZeneca vaccine (35;25%). The mean duration between SARSCoV- 2 vaccination and R-IMIDs development was 9.2 (range:1-90) days. The second dose of the vaccine resulted in more R-IMIDs (74;54%) than the first (53;39%). CTDs (34;25%) and small vessel vasculitis (33;24%) were the commonest R-IMID manifestations, followed by inflammatory arthritis and AOSD, each in 13 (9.5%) cases. Nearly half of the patients with CTDs had Idiopathic Inflammatory Myositis. PMR and GCA accounted for 16 (11.7%) and 5 (3.6%) cases, respectively. However, no cases of axial spondylarthritis were reported. Most (118;86%) R-IMID patients were treated with corticosteroids, with a small number receiving steroid-sparing drugs, such as methotrexate, rituximab and cyclophosphamide. Most (125;91%) went into either disease remission or improvement following the treatment. Only three patients were admitted to the intensive care unit (ICU) to manage their disease;One of them died due to fatal myositis and rhabdomyolysis;two surviving ICU patients had ANCA-associated vasculitis with lung involvement. Conclusion Although rare, this SR highlights the emergence of de novo R-IMIDs following SARS-CoV-2 vaccination. We cannot confirm the causality between the vaccination and the onset of R-IMID. However, further research is warranted in this area.

The time-varying effects of liquidity and market efficiency of the European Union carbon market: Evidence from the TVP-SVAR-SV approach

We use the time-varying parameter structural vector autoregression stochastic volatility (TVP-SVAR-SV) and causality-in-quantiles methods to explore the linkage between market liquidity and efficiency in the European Union Emissions Trading Scheme (EU ETS) during Phase III. Our results show that two-way causality existed under normal and lower market conditions. Additionally, the linkage between liquidity and efficiency exhibits time-varying characteristics. Except in cases of extremely high market liquidity, the pass-through effect of liquidity on efficiency is mostly positive in the long run. The linkage is stronger in the medium and long term, but the response of liquidity to efficiency shocks is more complicated. Market efficiency has an overall inhibitory effect on liquidity in the short term and a promoting effect in the medium and long term. Furthermore, we investigate the impulse response during the COVID-19 period and the war between Russia and Ukraine and find that improvements in efficiency will permanently damage liquidity. Overall, the abilities of market makers and arbitrage traders, impacted by multiple factors, play an important role in the process by which liquidity affects market efficiency. By revealing and explaining the dynamic relationship between liquidity and efficiency, this research provides valuable information for policymakers and various market participants.

Back Onside: A Qualitative Study to Understand Experiences of Involvement in a Physical Activity Programme in Adults Who are Unemployed or At-Risk of Unemployment

Unemployment or being at-risk of unemployment is a health risk factor. Back Onside is a physical activity programme run in Bradford (UK) by the Bradford Bulls Foundation. It is aimed at improving the mental and physical health and wellbeing of adults who are unemployed or at-risk of unemployment. The programme is delivered in a relaxed and sociable environment to help build a positive mindset towards physical activity. We conducted semistructured interviews with participants on the programme (n = 5) and external stakeholders (n = 6) between 24 June and 12 July, 2021. Data analysis was completed using the context-mechanism-outcome (CMO) framework of realist evaluation. Four CMOs were identified: (1) resocialisation following COVID-19 lockdown restrictions;(2) congruence between the programme and participants' goals;(3) engaging people in enjoyable activities;and (4) inclusive environments. We recommend future programmes to take an inclusive and relaxed approach to physical activity and be congruent with participants' goals and values to ensure participants' feel supported and adhere to the programmes.

Stock Market Response to Covid-19 Pandemic Period In Asian Equity Markets: An Event Study

The purpose of the study was to evaluate the relationshi ps between factors and the variability of Asian Emerging Stock Markets for the time before, during, and following the COVID 19 Outbreak. Descriptive, ADF Test, GARCH (1.1) Model, and Pair-wise Granger Causality Test were used in the research. From the outcomes of empirical analysis, the study found that the information about the COVID 19 Pandemic played a major role in the movement of Asian emerging countries, stock markets. But the fear of a COVID 19 pandemi c exerci sed mi xed i mpact on t he count ry' s market performance. As a result, while investing in the stock markets, the i nvest or shoul d keep a keen wat ch on market movements. International stock market investors in particular, should watch numerous worldwide events, for a sound investment in the global stock markets. © Indian Institute of Finance.