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1.
International Journal of Social Inquiry ; 15(1):21, 2022.
Article in English | ProQuest Central | ID: covidwho-1965157

ABSTRACT

Gender equality is not only a fundamental human right, but it is also necessary for a peaceful society, the attainment of full human potential, and long-term progress. It can also play a significant role in the growth of any modern economy. Therefore, it is critical to realize that men and women may both contribute to societal growth. A holistic approach, sound policies, and long-term commitment by all levels of government are essential for women's empowerment to become a reality. In addition, gender equality must be a priority in developing national policies and initiatives. Despite improvements in Turkish women's social, political, and economic lives, women's empowerment has yet to be attained. This research explores the position of women in school and the labor market in Turkey before and after the emergence of COVID-19. The research highlights the problems and opportunities that women regarding participating in the Turkish economy.Alternate :Toplumsal cinsiyet eşitliği yalnızca temel bir insan hakkı değil, aynı zamanda barışçıl bir toplum, insan potansiyelini tam kullanım ve uzun vadeli gelişmenin bir koşuludur. Bu nedenle, bir ekonominin gelişmesinde kilit bir rol oynayabilir. Erkeklerin ve kadınların sosyal kalkınmaya eşit derecede katkıda bulunabilecekleri gerçeğini benimsemek bu yüzden oldukça önemlidir. Kadınların güçlendirilmesinin gerçekleşmesi için bütüncül yaklaşım, sağlam politikalar ve uzun vadeli özveri gerekmektedir. Ayrıca, uygulanması hedeflenen ulusal politika ve programlar geliştirilirken, toplumsal cinsiyet eşitliği öncelikli olarak gözetilmelidir. Türk kadınının sosyal, siyasi ve ekonomik hayatındaki gelişmelere rağmen güçlendirmeleri henüz istenilen noktaya ulaşamamıştır. Bu çalışma, Türkiye'de Korona Virüsünün bir diğer adıyla Covid-19'un ortaya çıkmasından önce ve sonra kadınların eğitim ve işgücü piyasasındaki durumunu incelemektedir. Kadınların Türkiye ekonomisine katılımına ilişkin zorluklar ve fırsatlar analiz edilmektedir.

2.
Webology ; 19(1):2341-2356, 2022.
Article in English | ProQuest Central | ID: covidwho-1964722

ABSTRACT

Monetary coordination and macroeconomic stability are increasingly critical for domestic and fiscal policy in the aftermath of the global financial crisis. This research investigates the impact of monetary policy on financial and economic stability following the COVID-19 pandemic's economic lockdown. This article utilized a V.A.R. (Vector Autoregressive Models) estimator for time series data models. Quarterly statistics are gathered from the first quarter of 2004 to the first quarter of 2018. Using a V.A.R. model, the study investigates the causal connections between monetary policy instruments and economic stability. The findings suggest that Iraq's monetary policy is most efficient at maintaining a target growth rate for the money supply while simultaneously controlling inflation through an equalization cap (1.8 percent). Due to the rentier structure of the Iraqi economy, the money supply had a negligible influence. Monetary authorities must monetize oil earnings in order to finance public spending. Finally, an appropriate framework for monetary management must be created that ensures monetary independence and supremacy remain unimpaired. The findings give a thorough knowledge of the links between national monetary policies and economic stability, which can eventually aid in developing nations' formulation of good monetary and fiscal policies.

3.
Journal of Applied Economics ; 25(1):983-996, 2022.
Article in English | Scopus | ID: covidwho-1960773

ABSTRACT

This article aims to test a causal nexus between bitcoin market and economic policy uncertainty. We use the continuous wavelet analysis to investigate lead-lag relationship between bitcoin market and economic policy uncertainty in different time-frequency domains. Our findings show the negative relationship between bitcoin returns and economic policy uncertainty around the period of bitcoin’s currency recognition and COVIC-19 pandemic crisis both daily and monthly time series test. Furthermore, we find that the causality relationship between bitcoin and economic policy uncertainty is relatively indistinct around the period of bitcoin’s currency recognition, while bitcoin returns are leading economic policy uncertainty changes during COVID-19 pandemic crisis, indicating the economic policy uncertainty fluctuation trend can refer to the fluctuation of bitcoin, bitcoin can be viewed as a leading indicator, but it could not be employed as a safe-haven asset hedge against uncertainty during the period of COVID-19 pandemic. © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.

4.
Social Sciences in China ; 43(2):102-124, 2022.
Article in English | ProQuest Central | ID: covidwho-1947818

ABSTRACT

The COVID-19 pandemic, the regulation of real estate, and external uncertainties are the core variables in the recent evolution of China’s financial risks, and overall planning and structural deployment are the key guarantees for China’s financial stability. From an aggregate perspective, China’s systemic financial risk tended to ease overall in 2021, but remained high. The risk profile of China’s financial system in 2021 presented five important features. First, the macro leverage ratio fell slightly, but exposed the hidden dangers of balance sheet recession. Second, there was a certain blockage in the transmission of financial system liquidity to the real economy. Third, the fragility of the financial system was further exposed, the bond default balance reached a new high, the structural differentiation of bonds between state-owned and private enterprises became prominent, and private enterprise default became more serious. Fourth, the contagion effect of domestic cross-market financial risks remained significant. Fifth, the international political and economic situation was volatile, and spillover effects such as the rising prices of raw materials, the inauguration of a new US administration, and the shift of the Federal Reserve’s monetary policy were significantly strengthened. In terms of key risk areas, the risks of the real estate market, hidden government debt, and small- and medium-sized domestic banks were quite prominent. in 2022, pandemic prevention and control, economic recovery, and structural upgrading will remain the main themes of China’s development. China’s financial risks are generally under control, but the country will still face major risks such as a high macro leverage ratio, tight market liquidity, increasing debt vulnerability, significant spillover effects, and rising volatility in the international market.

5.
Journal of International Money and Finance ; 127, 2022.
Article in English | Scopus | ID: covidwho-1945657

ABSTRACT

To analyze the macroeconomics of a pandemic we build a minimalist framework with two essential components. The first is productivity-related: if the virus forces firms to shed labor beyond a certain threshold, productivity suffers. The second component is a credit market imperfection: because lenders cannot be sure a borrower will repay, they only lend against collateral. Expected productivity determines collateral value;in turn, collateral value can limit borrowing and productivity. As a result, adverse shocks have large magnification effects, in an unemployment and asset price deflation doom loop. There may be multiple equilibria, so that pessimistic expectations can push the economy to a bad equilibrium with limited borrowing and low employment and productivity. The model helps identify policies to fight the effects of the pandemic. Traditional expansionary fiscal policy has no beneficial effects, while cutting interest rates has a limited effect if the initial real interest rate is low. By contrast, several unconventional policies, including wage subsidies, helicopter drops of liquid assets, equity injections, and loan guarantees, can keep the economy in a high-employment, high-productivity equilibrium. Such policies can be fiscally expensive, so they are feasible only with ample fiscal space or emergency financing from abroad. Preliminary macroeconomic evidence is consistent with the mechanisms in our model. © 2022 Elsevier Ltd

6.
International Economics and Economic Policy ; 19(2):239-243, 2022.
Article in English | ProQuest Central | ID: covidwho-1941904

ABSTRACT

On September 24th, 2021, the European Institute for International Economic Relations (EIIW/University of Wuppertal) hosted an international workshop in the context of marking the Institute’s 25th Anniversary;it had initially been hoped that postponing the workshop from the originally intended date in 2020 to 2021 would allow to have a normal in person conference, but COVID-19 dynamics continued to disrupt plans, and the workshop took place belatedly in an online format. Founded at the University of Potsdam, the Institute subsequently moved to the University of Wuppertal where, over many years, the EIIW team and guest researchers have contributed greatly to international economic analysis. This has included work for various International Organizations (e.g., the United Nations, International Monetary Fund) as well as research for governments (and public agencies) in the European Union — including the European Parliament and the European Commission — companies and non-governmental organizations (NGOs) across Europe. The Special Issue presented here provides an exemplary selection of the research in the Institute’s area of expertise. It places an analytical focus on International Economics, climate-policy-related research, International Organizations and economic policy analysis, including some of the first papers with analytical economic findings on the effects of the Russo-Ukrainian war. This special issue thus reflects key fields of International Economics and climate policy as well as research on key aspects of the war in the Ukraine.

7.
Futuribles ; (440)2021.
Article in English | ProQuest Central | ID: covidwho-1940178

ABSTRACT

From the onset of the crisis in spring 2020, the French government put in place significant support measures for companies and the working population to cope with the Covid-19 epidemic. These were extended or expanded during the second lockdown in autumn. Beyond short-term measures, however, given the severity of the economic and social crisis that has accompanied the health emergency and will continue for long years to come, in September 2020 the government also established a 100 billion euro Recovery Plan for the French economy. That plan has three main strands: ecology, competitiveness and social cohesion. Does it match up to the future challenges French society will face? Pierre Papon examines that question in this forum, mainly from the angle of the scientific and technological challenges. After outlining the substance and the beneficial features of the Recovery Plan, he highlights a number of aspects that are either poorly dealt with or not covered at all. This prompts him to envision a number of complementary measures to ensure that preparations for the future are as sound as possible.

8.
Research in International Business and Finance ; 62:101714, 2022.
Article in English | ScienceDirect | ID: covidwho-1937129

ABSTRACT

Extending the findings by Grossmann and Ngo (2020) that ADR mispricing is higher upon heightened U.S. economic policy uncertainty (EPU), we document that culture and economic freedom differences moderate the relationship between EPU and ADR mispricing. In line with a combined flight to safety and familiarity argument, an increase in U.S. EPU is associated with higher mispricing for ADRs from countries with cultures and economic freedom similar to the U.S. The mispricing of these ADRs is also impacted by domestic EPU considering cultural differences. This is especially the case for cultures perceived to have lower risk aversion or home bias and might be explained by the familiarity argument as well as domestic investors’ flight toward domestic stocks that have, according to the product market spill over hypothesis, more of a global exposure (e.g., cross-listed stocks). The main findings are not altered by the Covid-19 period or other robustness checks.

9.
El Trimestre Económico ; 89(3):829-864, 2022.
Article in Spanish | ProQuest Central | ID: covidwho-1934815

ABSTRACT

La crisis sanitaria generada por la acelerada propagación en el planeta del virus sarsCoV2 -fuente de la enfermedad covid-19- ha tenido un impacto negativo inevitable en los sistemas de salud y, simultáneamente, en la dinámica de las economías global, regional y nacional. Los problemas estructurales de la economía mexicana y la estrechez del espacio fiscal no surgieron con la pandemia, se fueron configurando durante las últimas tres décadas mediante la implementación del modelo económico que privilegió las políticas orientadas al mercado y el retiro de la intervención del Estado en la economía, en busca de una supuesta eficiencia en la asignación de los recursos y los factores productivos. En este artículo se analiza el impacto de la covid-19 en la economía y la hacienda pública de México, desde una perspectiva que plantea la existencia previa de las debilidades estructurales de la economía, a fin de buscar mayor dinamismo de la producción, el ingreso, la inversión productiva, la generación de empleo y la productividad laboral. También se plantea que las crisis de salud y económica representan una oportunidad para impulsar un nuevo modelo económico que trascienda las políticas económicas de raíz neoliberal, mediante el diseño y la instrumentación de una política para la transformación y la diversificación productivas, el desarrollo industrial, la innovación, la ciencia y la tecnología. Se busca un nuevo modelo económico que vaya más allá de la pandemia para el desarrollo de capacidades productivas y tecnológicas en el que la política económica no sea un fin para la estabilidad macroeconómica, sino un medio para alcanzar el objetivo central de bienestar social de la población.Alternate :The health crisis generated by the accelerated spread on the planet of the sars-CoV2 virus - the source of the covid-19 disease-has had an inevitable negative impact on health systems and simultaneously on the dynamics of the global, regional, and national economies. The structural problems of the Mexican economy and the narrowness of the fiscal space did not arise with the pandemic, they were configured during the last three decades with the implementation of the economic model that privileged market-oriented policies and the withdrawal of state intervention in the economy., in search of a supposed efficiency in the allocation of resources and productive factors. This article analyzes the impact of the covid-19 disease on the economy and public finances of Mexico, within a perspective that raises the previous existence of structural weaknesses in the economy to generate greater dynamism in production, income, productive investment, job creation, and labor productivity. The health and economic crises represent an opportunity to promote a new economic model that transcends the policies of neoliberal roots, through the design and implementation of an economic policy for the transformation and diversification of production, industrial development, innovation, science, and technology. A new economic model that goes beyond the pandemic, for the development of productive and technological capacities in which economic policy is not an end for macroeconomic stability, but a means to achieve the central objective of social welfare of the population.

10.
Trimestre Económico ; 89(355):829-864, 2022.
Article in Spanish | Academic Search Complete | ID: covidwho-1934814

ABSTRACT

The health crisis generated by the accelerated spread on the planet of the sars-CoV2 virus—the source of the covid-19 disease—has had an inevitable negative impact on health systems and simultaneously on the dynamics of the global, regional, and national economies. The structural problems of the Mexican economy and the narrowness of the fiscal space did not arise with the pandemic, they were configured during the last three decades with the implementation of the economic model that privileged market-oriented policies and the withdrawal of state intervention in the economy., in search of a supposed efficiency in the allocation of resources and productive factors. This article analyzes the impact of the covid-19 disease on the economy and public finances of Mexico, within a perspective that raises the previous existence of structural weaknesses in the economy to generate greater dynamism in production, income, productive investment, job creation, and labor productivity. The health and economic crises represent an opportunity to promote a new economic model that transcends the policies of neoliberal roots, through the design and implementation of an economic policy for the transformation and diversification of production, industrial development, innovation, science, and technology. A new economic model that goes beyond the pandemic, for the development of productive and technological capacities in which economic policy is not an end for macroeconomic stability, but a means to achieve the central objective of social welfare of the population. (English) [ FROM AUTHOR] La crisis sanitaria generada por la acelerada propagación en el planeta del virus sars- CoV2 —fuente de la enfermedad covid-19— ha tenido un impacto negativo inevitable en los sistemas de salud y, simultáneamente, en la dinámica de las economías global, regional y nacional. Los problemas estructurales de la economía mexicana y la estrechez del espacio fiscal no surgieron con la pandemia, se fueron configurando durante las últimas tres décadas mediante la implementación del modelo económico que privilegió las políticas orientadas al mercado y el retiro de la intervención del Estado en la economía, en busca de una supuesta eficiencia en la asignación de los recursos y los factores productivos. En este artículo se analiza el impacto de la covid-19 en la economía y la hacienda pública de México, desde una perspectiva que plantea la existencia previa de las debilidades estructurales de la economía, a fin de buscar mayor dinamismo de la producción, el ingreso, la inversión productiva, la generación de empleo y la productividad laboral. También se plantea que las crisis de salud y económica representan una oportunidad para impulsar un nuevo modelo económico que trascienda las políticas económicas de raíz neoliberal, mediante el diseño y la instrumentación de una política para la transformación y la diversificación productivas, el desarrollo industrial, la innovación, la ciencia y la tecnología. Se busca un nuevo modelo económico que vaya más allá de la pandemia para el desarrollo de capacidades productivas y tecnológicas en el que la política económica no sea un fin para la estabilidad macroeconómica, sino un medio para alcanzar el objetivo central de bienestar social de la población. (Spanish) [ FROM AUTHOR] Copyright of Trimestre Económico is the property of Fondo de Cultura Economica / Mexico 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 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 . (Copyright applies to all s.)

11.
Energies ; 15(13):4710, 2022.
Article in English | ProQuest Central | ID: covidwho-1934006

ABSTRACT

Energy and climate policies play an increasingly important role in the world in the era of climate change and rising energy prices. More often, the importance of the development of the energy sector and climate protection is seen from the point of view of the expenditures that will need to be absorbed in the economy, with the potential for increased energy prices. However, it should be remembered that this is also related to the issue of fuel poverty and the inability to meet basic energy needs by parts of society. The aim of the paper is to assess the importance of macroeconomic policy instruments in reducing fuel poverty, using Poland as an example. It will be examined whether and how the government influenced this phenomenon (directly or indirectly), through which instruments, and which instruments (fiscal, monetary or energy-climate policy) played the most important role in shaping the scale of fuel poverty in Poland, with an emphasis on the role of monetary and fiscal policy instruments. The analysis covered the period from 2004 to mid-2021. The results of the research showed that in Poland there is a lack of policy directly aimed at reducing fuel poverty, and the government affects the scale of fuel poverty indirectly mainly through macroeconomic policy instruments, i.e., fiscal and monetary policy instruments. The main and most effective instruments for reducing fuel poverty in Poland are social transfers. Other instruments that have a statistically significant impact on this poverty rate are the level of tax burdens and short-term interest rates. The analysis also revealed some opportunities for effective fuel poverty reduction policies. It was proven that in addition to fiscal policy, monetary policy, which would stimulate a decrease in short-term interest rates, is also an effective way to reduce the fuel poverty rate in Poland.

12.
Journal of Economics and Finance ; 2022.
Article in English | Scopus | ID: covidwho-1930573

ABSTRACT

The events in the year 2020, especially the ravaging coronavirus (COVID-19) pandemic has further exposed the vulnerability and connectedness associated with human health and the global economy. In the United States, amid the COVID-19 pandemic, the recent political polarization, especially the sharp divide between the Republican and Democrat party has further demonstrated the heightened partisan conflict in the country. From this basis, the current study examines the time-varying Granger causality between pandemic-related health emergency, partisan conflict, and economic policy uncertainty (EPU) in the United States over period January 1996 to June 2020. While there is an evidence of common time-varying Granger causality between August 2005 and September 2006 from pandemic-related health emergency to partisan, the evidence of Granger causality from partisan conflict to pandemic is common in the period of January to May 2009. In addition, the Granger causality between partisan conflict and EPU is obviously common between February and May 2020. As a policy concern, we are of the opinion that mechanism toward diffusing the heightened political divide in the United States is essential and be pursued for the country’s economic and health sector challenges. © 2022, Academy of Economics and Finance.

13.
VUZF Review ; 7(2):205-215, 2022.
Article in Bulgarian | ProQuest Central | ID: covidwho-1925020

ABSTRACT

The digitalization of financial services of banks and financial institutions has become important in the digital economy and has spread significantly during the pandemic. Digital financial literacy has become urgency. For its part, this has led to a new cycle in the development of digital financial literacy. The purpose of this article is to study the development of digital financial literacy in CEE countries and to develop recommendations for the implementation of national strategies for digital financial literacy, including for Ukraine. Identify factors and potential problems that may arise on a result of developing and implementing national digital strategies of financial literacy and identify the main components and indicators for evaluating the implementation of these strategies. Determined that, Ukraine has everything necessary for the successful implementation of initiatives in the field of financial technologies, namely: growing penetration of mobile communications and the Internet, innovative banking institutions, the availability of world-class talent.The creation of a separate unit on digital financial literacy in the National Bank of Ukraine, responsible for implementing the national strategy of digital financial literacy will ensure the unity of scientific and economic policy and integration of NDFIS development goals into digital modernization projects based on powerful feedback mechanisms. The main tasks of such a unit will be to develop appropriate methodological support for selecting and tracking the results of the implementation of the national strategy, assisting staff employed in the implementation of NDFIS and even reviewing the existing structure and powers of executive bodies at national and local levels.

14.
Ekonomika ; 100(2):84-100, 2021.
Article in English | ProQuest Central | ID: covidwho-1924753

ABSTRACT

Considering the specifics of the Russian economy such as dependency on oil, gas drilling and production, including the current context of the Western sanctions, COVID-19 pandemic as well as distinct potential output development, the main aim of this paper is to quantify the recent output gap for Russia. We use three mainstream methodologies: the Hodrick-Prescott filter as a benchmark, the Kalman filter to follow and the Cobb-Douglas production function. The sample time span ranges from 1995Q1 until 2020Q3, while all calculations are performed on quarterly frequencies. The analysis suggests that given the low fixed investment ratios, limited R&D spending in non-military sectors and adverse demographic development, under a "no policy change" scenario, there might soon be even more downward pressures on the country's potential output growth. The economy may continue increasing only at a snail's pace even after a possible withdrawal of the Western sanctions and the end of the COVID-19 pandemic.

15.
Ekonomika ; 100(1):67-74, 2021.
Article in English | ProQuest Central | ID: covidwho-1924751

ABSTRACT

. The present article describes the approaches and definition of the concept of uncertainty proposed by its authors, a quantitative evaluation of uncertainty, and materials of the empirical study used to explore the said issues on the example of macroeconomics of Georgia. We hope that the views given in the article will be useful for developing countries, particularly for the economic policy-makers in the post-communist states, as well as for the academic and scientific circles engaged in the studies of the above-listed issues.

16.
Ekonomika ; 99(2):104-115, 2020.
Article in English | ProQuest Central | ID: covidwho-1924750

ABSTRACT

The purpose of this study is to investigate the effects of the COVID-19 pandemic on economic policy uncertainty in the US and the UK. The impact of the increase in COVID-19 cases and deaths in the country and the increase in the number of cases and deaths outside the country may vary. To examine this, the study employs the bootstrap ARDL cointegration approach from March 8, 2020 to May 24, 2020. According to the bootstrap ARDL results, a long-run equilibrium relationship is confirmed for five out of the ten models. The long-term coefficients obtained from the ARDL models suggest that an increase in COVID-19 cases and deaths outside of the UK and the US has a significant effect on economic policy uncertainty. The US is more affected by the increase in the number of COVID-19 cases. The UK, on the other hand, is more negatively affected by the increase in the number of COVID-19 deaths outside the country than the increase in the number of cases. Moreover, another significant finding from the study demonstrates that COVID-19 is a factor of great uncertainty for both countries in the short-term.

17.
International Perspectives on Education and Society ; 42A:107-118, 2022.
Article in English | ProQuest Central | ID: covidwho-1922586

ABSTRACT

The aim of this essay is to contribute to the international discussion on the consequences of the pandemic in education. This essay focuses on the case of school education (ISCED 1–3) in the Czech Republic, where a complete, long-term, nationwide school closure was implemented. Schools faced an unprecedented situation and rapidly changing teaching practices. First, the Czech context is briefly introduced with a description of the year-long anti-pandemic measures. A critical reflection of school experiences during the pandemic follows, mainly focused on the roles and activities of main actors, teachers, parents, and students in distance education. Changes in the forms, methods, and contents of teaching and learning are reflected, as is the role of governmental policy toward schools. Further economic consequences and impacts of the anti-pandemic measures on the health of the Czech school population are pointed out. Following a review of the main shifts in schooling, the concluding considerations discuss challenges for the future and possible inspiration from on-line education for the further development of school education. The essay is based on data from monitoring and thematic reports, national surveys, public discussions, and continuous observations made by the author during the course of the pandemic.

18.
International Journal of Managerial Finance ; 2022.
Article in English | Scopus | ID: covidwho-1922493

ABSTRACT

Purpose: The purpose of the present study is to contribute to the existing literature by examining the nexus and the connectedness between classes S&P Green Bond Index, S&P GSCI Crude Oil Index, S&P GSCI Gold, MSCI Emerging Markets Index, MSCI World Index and Bitcoin, during the pre-and post-Covid period beginning from August 2011 to July 2021 (10 years). Design/methodology/approach: The study employs time-varying parameter vector autoregression and Quantile regression methods to understand the impact of events on traditional and upcoming asset classes. To further understand the connectedness of assets under consideration, the study used Geo-Political Risk Index (GPR) and Global Economic Policy and Uncertainty index (GPEU). Findings: Findings show that these markets are strongly linked, which will only expand in the post-pandemic future. Before the pandemic, the MSCI World and Emerging Markets indices contributed the most shocks to the remaining market variables. Green bond index shows a greater correlation and shock transmission with gold. Bitcoin can no longer be used as a good hedging instrument, validating the fact that the 21st-century technology assets. The results further opine that under extreme economic consequences with high GPR and GPEU, even gold cannot be considered a safe investment asset. Originality/value: Financial markets and the players who administer and communicate their investment logics are heavily reliant on conventional asset classes such as oil, gas, coal, nuclear and allied groupings, but these emerging asset classes are attempting to diversify. © 2022, Emerald Publishing Limited.

19.
Journal of Management & Governance ; 26(2):621-640, 2022.
Article in English | ProQuest Central | ID: covidwho-1919886

ABSTRACT

The behavioral theory of corporate governance is employed to investigate the relationship between managerial entrenchment and corporate social responsibility (CSR) engagement. Effective corporate governance is argued to reduce managerial entrenchment, thereby increasing CSR engagement. The role of economic policy uncertainty (EPU) is investigated as a moderating variable in this relationship, such that high levels of EPU will increase the impact of entrenchment on CSR engagement. These arguments are supported using a panel of 386 US firms from 2011 to 2018 representing 3,088 firm-year observations in a variety of industries. In supplementary analysis, the CSR measure is disaggregated in order to provide further insight regarding these relationships as they pertain to the individual CSR dimensions under study. Findings inform research regarding the entrenchment-CSR link in particular environmental contexts. Practical implications include potential governance guidelines for boards of directors;stakeholder management given the policy environment;and the impact of government decisions as they affect policy uncertainty, firm actions, and CSR engagement.

20.
Finnish Yearbook of Population Research ; 56:137-159, 2021.
Article in English | ProQuest Central | ID: covidwho-1918790

ABSTRACT

This study projects different dependency ratios under various scenarios of future fertility and tertiary education in Finland to assess how the economic consequences of population aging depend on these trends. Applying a multidimensional demographic approach through a discrete-time microsimulation model, we project the newly introduced productivity-weighted labour force dependency ratio for Finnish scenarios until 2060 and compared it with the labour force dependency ratio and the traditional age dependency ratio. Results show that population aging looks less daunting when considering labour force dependency ratios as compared to purely age-based ratios, yet all measures and scenarios show a deterioration of the dependency ratio. While the old age dependency ratio is projected to increase by 73 per cent, the labour force dependency ratio would increase by 32 per cent, and the productivity weighted labour force dependency ratio by 28 per cent. Provided a more rapid increase in educational attainment, the last indicator is expected to increase less, with 21 per cent until 2060. Should the stalled trend in educational achievement of the 2010s continue, there would be very modest future gains in the productivity-weighted ratio. In other words, the consequences of population ageing look less dramatic for economic productivity, if the current gender gap in educational achievement would disappear and were Finnish men to become as educated as Finnish women. Of the three fertility scenarios considered, a total fertility rate of 2.0 is most advantageous and a low fertility of 1.2 least optimal for adult dependency ratios, but only after 2050. Interestingly, a combination of recovered fertility to 1.6 with a more rapid educational expansion would be better for productivity than only raising fertility to 2.0. Boosting educational levels would hence mitigate the negative effects of a shrinking labour force more than increasing fertility within reasonable bounds. Our results suggest that implementation of the current government goals for educational expansion, combined with a not unrealistic recovery of total fertility rates to around 1.6, would both clearly alleviate the worsening dependency ratio. We conclude that although there is no quick fix to the economic effects of population ageing, these can be proactively mitigated with different and complementing policies, and taking into account multidimensional population trends.

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