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Over 140 countries agreed on a fundamental corporate tax reform in 2021 to be implemented in 2023 and beyond. To measure its potential effects, we study asset price changes within minutes of the reform announcements. We construct proxies for the reform's costs regarding U.S. companies' tax burdens and countries' public finances. Likely exposed companies exhibit significant negative stock returns. Our lower-bound estimates indicate total shareholder value losses of $112.6 billion one day after the reform announcements. Further, likely exposed countries experience increases in sovereign debt credit risk. Our findings inform the cost-benefit analysis of a historical international tax reform. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

Contradictory to conventional economic theory, which foresees any increase in the size of government as inflationary, this article provides evidence that the reaction of price levels to changes in the size of government is nonlinear. The price levels do not necessarily increase in response to a rise in the size of the government but only up to a certain threshold or optimal level. Accordingly, this paper utilizes the dynamic panel threshold model to examine the threshold effects of government size (measured as government final consumption expenditure as a proportion of GDP) on inflation using a sample of 10 selected MENA countries from 1980 to 2019. The findings of this study stand out in several ways. First, the results support the nonlinear relationship between government size and inflation in the study area. Second, the government size's estimated threshold level is equivalent to 12.46%. Third, government size negatively impacts inflation in the regime of small governments up to the threshold level. The impact turns positive once the government size goes beyond the threshold level in a regime of large size of government. These findings have ramifications for the conduct of fiscal policy. Policymakers in the MENA region can increase the size of government till it reaches the threshold level without exerting any upward pressure on price levels. [ABSTRACT FROM AUTHOR]

This article explores the significance of Bitcoin halving events within the cryptocurrency ecosystem and their impact on market dynamics. While the existing literature addresses the periods before and after Bitcoin halving, as well as financial bubbles, there is an absence of forecasting regarding Bitcoin price in the time after halving. To address this gap and provide predictions of Bitcoin price development, we conducted a rigorous analysis of past halving events in 2012, 2016, and 2020, focusing on Bitcoin price behaviour before and after each occurrence. What interests us is not only the change in the price level of Bitcoins (top and bottom), but also when this turn occurs. Through synthesizing data and trends from previous events, this article aims to uncover patterns and insights that illuminate the impact of Bitcoin halving on market dynamics and sustainability, movement of the price level, the peaks reached, and price troughs. Our approach involved employing methods such as RSI, MACD, and regression analysis. We looked for the relationship between the price of Bitcoin (top and bottom) and the number of days after the halving. We have uncovered a mathematical model, according to which the next peak will be reached 19 months (in November 2025) and the trough 31 months after Bitcoin halving 2024 (in November 2026). Looking towards the future, this study estimates predictions and expectations for the upcoming Bitcoin halving. These discoveries significantly enhance our understanding of Bitcoin's trajectory and its implications for the finance cryptocurrency market. By offering novel insights into cryptocurrency market dynamics, this study contributes to advancing knowledge in the field and provides valuable information for cryptocurrency markets, investors, and stakeholders. [ABSTRACT FROM AUTHOR]

Most sovereign defaults are partial, with heterogeneous post-default outcomes, and commodity prices are an important determinant of sovereign default and the subsequent restructurings. In the case of emerging countries, as a result of direct dependence of government on revenues from commodity exports, declines in commodity prices reduce government's resources to service the external debt thereby increase the chances of default. In this paper, we construct a country-specific commodity price index with time-varying weights based on commodity exports to quantify the impact of commodity prices on the partial default rate measured by debt arrears. We show that declines in commodity prices have a significant, positive effect on the default rate. The overall predicted effects for a one-standard deviation decrease in a composite of the level and change of the price index at its 1st, 2nd, and 3rd quartile, on average, are 14.2, 12.5, and 9.3 percentage points respectively. We also show that for a country-specific one-standard deviation decrease in the composite price index, the predicted effect varies from insignificant to an increase of 33.8 percentage points. The country-specific effect on the default rate generally increases in magnitude with a country's dependence on commodity exports, while it depends heterogeneously on external indebtedness—increasing in magnitude for low levels (below a threshold of about 30 percent) of debt and decreasing thereafter. [ABSTRACT FROM AUTHOR]

We investigate the presence of asymmetric vertical price contagions in the Italian pork market, describing the multiple dependence structure along the supply chain and evaluating the degree of extreme value dependence at different market levels. We provide a nonlinear copula-based vector autoregressive model built under a three-stage estimation method. Our methodological approach is all-encompassing and flexible. We contribute to the literature by providing a specification of the copula-based impulse response functions, which yields an interpretation of the economic implications of the empirical analysis. From farm to retail channels, our application to the Italian pork value chain reveals asymmetric price transmission. Our findings suggest large price adjustments at the retail level to shocks at other market levels, but significantly less adjustment at the farm level. Across the marketing chain, we show that the dynamics of pricing changes to shocks vary significantly. While our application to Italy serves as a useful illustration, our analysis may be expanded in a number of ways. [ABSTRACT FROM AUTHOR]

Considering the role of capital as one of the most important factors which can affect production, job creation, and productive activities, this study was an attempt to investigate factors which can influence investment and the way they do so. To this end, this study benefitted from a dynamic computable general equilibrium model approach to simulate the effects of technology spillovers on economic and welfare variables involved in the investment of Iranian private sector in the country's economy. Accordingly, the study focused on changes in the production index of different economic sectors of Iran and changes in the consumption and price levels in the form of four different scenarios, namely doubling foreign direct investment, improving productivity through technology spillovers by using a coefficient of 0.0062, increasing import of capital and intermediate goods by 20%, and simultaneous application of the aforementioned three scenarios by using the 2013 Social Accounting Matrix for Iran. the results revealed, application of the first scenario can lead to an increase in the level of private sector investment in all the 14 sectors of Iran's economy and cause production growth. Moreover, application of the third scenario can cause the investment level of private sector to decrease. Finally, consideration of the fourth scenario, as compared to the other three scenarios, can be accompanied by a more considerable increase in the levels of production, private sector investment, household consumption, export, import, and thus households' welfare. [ABSTRACT FROM AUTHOR]

The decision of farmers to reduce fertilizer applications and, thus, the achievement of agri‐environmental policy goals interacts with market price developments. In this study, we analyze how changes in price levels and volatility over time (i.e., 1991–2006 vs. 2007–2022) affected farmers' preferences to reduce fertilizer application using statistical inferences of stochastic dominances. The analysis considers two cropping systems and fertilizer reduction measures: (i) grassland‐based milk production and the use of legumes and (ii) wheat production and the use of variable rate application. We show that the economic value of reducing fertilizer increased over time in both grassland‐based milk and wheat production. However, only in the case of wheat production was the reduction in fertilizer application observed as more risk‐reducing over time. In contrast, in grassland‐based milk production, the co‐movement of fertilizer and milk prices canceled out the increase in risk reduction. We conclude that changes in market price, along with agri‐environmental subsidies, can increasingly incentivize the reduction of fertilizer use. [ABSTRACT FROM AUTHOR]

In this article, the authors examine how historical price information influences consumers' decision to defer a purchase. They focus on two aspects of historical price information: the direction and the frequency of past price changes. The authors advance a theoretical framework postulating that the interaction between these two factors shapes consumers' decisions to buy now versus later. Controlling for the total magnitude of price changes, the authors propose that consumers are more likely to defer purchase when the price of the product has previously increased compared with when the price has decreased. Importantly, the authors hypothesize that this effect is more pronounced when consumers observe a single large change in price (e.g., a decrease of $100 vs. an increase of $100) compared with when they observe multiple smaller changes that establish a trend (e.g., four decreases of $25 vs. four increases of $25). The authors argue that these effects are driven by differences in consumers' expectations about future prices. They test their predictions, as well as two moderators of the proposed effects—the monotonicity and the timing of price changes—in six well-powered preregistered experimental studies (N = 5,713) using both hypothetical and actual purchases. [ABSTRACT FROM AUTHOR]

Using a multisectoral model and data from the supply and use tables, this article estimates the exchange-rate pass-through to the domestic price level of the Turkish economy. The results indicate that a unit change in the exchange rate leads to 0.61 units of change in the overall price level. This effect comes out mostly through the industry, and the primary sector; while in terms of products, the energy sector is the major actor for the changes in the domestic price level. [ABSTRACT FROM AUTHOR]

Introduction: To determine the influence of price levels, celebrity endorser, halal lifestyle and the level of halal labels as an intervening variable in purchasing decisions for Kahf products in Indonesia. Method: The method used in this research is quantitative with a causality. The sample for this research consisted of 240 respondents taken using purposive sampling which was carried out from September - December 2023. The analysis tool used was Partial Least Square - Structural Equation Modeling (PLS-SEM) using the SmartPLS 3 application. Results: The results show price levels, halal lifestyle, celebrity endorsers, halal labels, and purchasing decisions for Kahf products are in the high category. Then, the price level has a positive and significant effect on purchasing decisions for Kahf products, but the level of halal lifestyle and celebrities endorser no effect. Other findings show that the halal label is able to mediate price, halal lifestyle and celebrity endorser on the decision to purchase Kahf products. Conclusion and sugession: The development of marketing strategies by companies that sell at competitive prices, a halal lifestyle, and the support of well-known celebrities can improve the image of halal products and increase the appeal of consuls. [ABSTRACT FROM AUTHOR]

The paper is based on the monthly price data of major livestock products in China from January 2002 to July 2022, the UVSVM model was used to investigate the dynamic feedback relationship between random price fluctuations and prices of three types of livestock products: Pork, beef and mutton. The result indicates that the random fluctuations in pork prices have a significant impact on pork prices and change in pork price levels will have a positive impact on the short-term random fluctuation in pork price. The random fluctuations in beef and mutton prices have little impact on their respective price. Changes in the price level of beef and mutton will have a negative impact on the random fluctuations in short-term prices. It is proposed to improve the regulatory mechanism of pork reserves and achieve stable supply and prices in the pork market, policy recommendations for taking multiple measures to stabilize the supply of beef and mutton and promote the stable operation of beef and mutton prices, in order to ensure the supply of livestock product and promote high-quality development of agriculture and rural economy. [ABSTRACT FROM AUTHOR]

Deployment of modern assistive technologies is one of the major trends. The main objective is the provisioning of the effectiveness and cost-estimation model for deploying assistive technology solutions in elderly care intended for evaluation and showing specificity to the costs and associated benefits of providing smart technological solutions for seniors. The model uses demographic projections taken from Eurostat for EU countries and the disability incidence from the annual report of the Ministry of Labour and Social Affairs of the Czech Republic as an input. The model was implemented in the software Stella Professional dedicated to system dynamics modelling. In relation to the combination of five assistive devices for the elderly the optimal solution the cost savings are 37.8% or182 billion CZK, cumulatively in the simulated time period 2021–2060. The model allows adjustments regarding price levels of various countries through the caregivers' wage. Obtained results showed robustness of the model to this uncertainty as percentage savings varied only from 37.6% to 39.8%, a mere 2.2% difference. With respect to the ongoing demographic transition, the need to employ smart device solutions should further increase and their price could decline. The highest savings will come from countries with higher wages for carers. [ABSTRACT FROM AUTHOR]

Price stability is a crucial goal of macroeconomic policy in all economies, including the East African Community (EAC) region. However, concerns arise due to high fiscal deficits and inflation, and the relationship between price changes and fiscal deficits remains unclear. This study sought to address this gap by analysing the impact of election-driven fiscal deficits on inflation in the EAC. The study utilized Pooled Mean Group (PMG) estimation technique using data for the period 2000-2021. Inflation rate in the EAC substantially rose in election and post-election year. The study found a significant and positive relationship between fiscal deficits and inflation rates, particularly election-driven deficits. This implies that political budget cycles have a substantial impact on inflation within the EAC. However, it's worth noting that in the year leading up to elections, inflation remained low, and fiscal deficits in the pre-election year had an adverse effect on it. Furthermore, the research revealed a positive association between money supply and trade with the present inflation rate, while a stronger domestic currency contributed to price stability in the EAC. The study suggests that countries in the region should strengthen fiscal rules and discipline to minimize deficits and ensure price stability. [ABSTRACT FROM AUTHOR]

The relationship between inflation dynamics and micro‐level pricing behavior is an underexplored research area. In this article, we first document that deflationary periods in Japan were associated with (i) variations in the distribution of price changes at the micro level, and (ii) a weakening in the Phillips correlation at the macro level. We construct a multisector general equilibrium model with sector‐specific menu costs, a feature that is supported by our estimation using sectoral data, and show that declining trend inflation and an increasing share of services in private consumption together can quantitatively explain the above two observations. [ABSTRACT FROM AUTHOR]

By understanding the expected changes in prices, stakeholders can navigate economic conditions and mitigate the impact of inflation on their financial goals and operations. While inflation predictions are subject to uncertainties and limitations, they provide valuable information for decision-making and planning at the individual, business, and policy levels. This paper aims to provide an in-depth analysis of inflation predictions for the years 2023 and 2024. It explores the factors influencing inflation, such as monetary policy, fiscal policy, supply chain disruptions, and global economic trends. By examining historical data, economic indicators, and expert opinions, this paper seeks to forecast the potential inflationary pressures and their implications for various stakeholders. The goal of predicting inflation is to gain insights into the expected changes in the general level of prices in an economy over a specific period. The findings suggest that while inflationary pressures may persist in the short term, the long-term trajectory will depend on the effectiveness of policy responses and the resolution of underlying structural issues. [ABSTRACT FROM AUTHOR]

Canada's inflation rate rose to generational highs in 2022. We explore this rapid surge. Using new methods and detailed household consumption data, we separately identify demand- and supply-driven price increases. We find that the latter account for most of the rise in inflation—especially among energy-intensive and highly traded items. In addition, we find that items with normally transitory price changes or those that are highly sensitive to interest rates account for nearly all of the increase. Our work sheds important new light on recent inflation trends and illustrates new empirical methods that can add value to inflation-monitoring efforts in Canada. [ABSTRACT FROM AUTHOR]

This article examines the relationships between 21 fiat currencies to Bitcoin price movements using daily data from the beginning of 2012 to the end of March 2021. We use a two-stage analysis. The first stage excludes currencies, which are uncorrelated with the daily returns of the Bitcoin. The second stage is to run a Granger-causality test on the remaining six currencies to examine whether lagged excess returns on the Bitcoin Granger-cause the excess returns on the currencies or vice versa. Results support the conclusion that the return on Bitcoin Granger-Cause the return on the Israeli Shekel (ILS), but not vice versa. A possible explanation of these outcomes is the susceptibility of financial investors in Bitcoin and the ILS to the Israeli economy. [ABSTRACT FROM AUTHOR]

This paper considers housing activity transmission across space using local indicators of spatial association. Activity does not diffuse like a ripple across England and Wales. Elevated activity appears to be associated with a south east-north west divide. The south east grows more quickly than the north west for a period of time, after which there is a switch in rank order. It is argued that changes in activity is associated with changing credit conditions to which the south east is more sensitive. Furthermore, it is proposed that activity features a type of participant induced on to the market by favourable price changes and credit conditions. It is argued that the reduced activity associated with 'missing mortgage movers' post-2007 reflects the lack of mortgage mover participation, which could have negative consequences for the macroeconomy. [ABSTRACT FROM AUTHOR]

The article presents how the concept of the Carbon Border Adjustment Mechanism (CBAM) is reflected in the regulation recently adopted in the EU and what possible effects CBAM may cause. The authors begin with explaining the reasons for the introduction of CBAM. Next, they briefly describe what obligations arise from the mechanism for entities and EU Member States and compare this mechanism to the EU ETS. The challenges facing the mechanism and the possible effects of its implementation are then examined. In the final section, the authors assess the economic impact of the CBAM on the Polish economy, taking into account changes in the price levels, in the value of production, exports and imports, GDP and household consumption in the horizon of 2030. The projection was carried out using the Carbon Regulation Emission Assessment Model (CREAM), which is the static general equilibrium model developed in the Centre for Climate and Energy Analyses (CAKE) at the National Centre for Emission Management (KOBiZE). [ABSTRACT FROM AUTHOR]

Copyright of Arab Journal for Humanities & Social Sciences is the property of AL-Sunbula Center for Research and Studies 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.)

China's carbon emission trading market has gradually attracted worldwide attention. In this paper, a structural VAR model and Shenzhen, a typical city in China, are selected to study the dynamic relationships between China's carbon emission rights price, energy prices, macroeconomic level, and weather conditions. Shanghai crude oil futures, the first crude oil futures contract in China, is used to describe changes in oil market as a substitute for Daqing crude oil price. The results show that the price of carbon emission rights is mainly affected by its own historical price; and the price of carbon emission rights is positively correlated with crude oil price and natural gas price, but negatively correlated with coal price; the change of macroeconomic level will still have a relatively large impact on carbon emission rights price in the current stage of economic development in China, but this impact is not significant; The impact of weather conditions on the price of carbon emission rights is not obvious. It is found that the launch of the national unified carbon market has indeed achieved certain results, but the situation that China's carbon market is still in its infancy has not been changed; further efforts are needed. [ABSTRACT FROM AUTHOR]

Although the temporal transferability of input–output (IO) models has been examined before, no study has investigated the impacts of changing water availability conditions over time, e.g., due to climate change, on the predictive power of water-inclusive IO models. To address this gap, we investigate the performance of inter-regional supply-side input–output (ISIO) models that incorporate precipitation and water intake under varying climates over time in a transboundary water management context. Using the Saskatchewan River Basin in Western Canada as a case study, we develop four ISIO models based on available economic and hydrological data from years with different climatic conditions, i.e., two dry and two wet years. Accounting for price changes over these years, our findings indicate that the joint impact of changes in water availability and economic structural changes on economic output can be considerable. The results furthermore show that each model performs particularly well in predicting the economic output for similar climatic years. The models remain reliable in predicting economic outputs over several years as long as changes in water availability are within the range observed in the water-inclusive base year ISIO model. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is organized as follows. Section 2 reviews the literature on the subject matter, focusing on western economic literature and the Islamic economic paradigm, including the Quran, Sunnah, jurisprudence and Islamic philosophy thinking, to illustrate the origins of the Islamic approach to monetary systems. The money interest rate and its studies are explained, and the role of money and credit in the production function is considered. Then, it is shown that money maintains the demand for money in the overlapping generation model, as well as the consumption behavior of households. It is followed by an explanation of general Pareto optimality and the role of the money interest rate in inefficiency and nonoptimality for households and firms. Finally, Section 4 concludes the paper. Design/methodology/approach: This paper studies the effects of money issuance and bank creation on Pareto optimality. In explaining the origins of the Islamic approach to monetary systems, the literature review, it focuses on western economics' literature and Islamic economics paradigms such as the Quran, sunnah, jurisprudence and Islamic philosophy thinking. In modeling section, the authors show how banks' fractional reserve credit is profitable. The authors also examine how the introduction of the money interest rate can change the Pareto optimality. In this regard, the comparison between two situations, namely, financing by the stock of money and borrowing in the credit market, indicates that welfare is reduced by the creation system and is inefficient (or nonoptimal). The result is that no money and no credits are created. The provision of this system compensates money by increasing the real money supply or deflation. To ensure Pareto optimality, it has been proven in the field of microfoundation that there should be no fixed money contracts and no money interest rates. It is necessary that the interest rate on consumption credit is zero or Qarz-al-Hasna is broken. Moreover, profit sharing is offered in the production sector. Findings: As a result, the authors proved mathematically that the money interest rate must be zero to ensure productivity and Pareto optimality. On the other hand, the introduction of money or credit through loanable money leads to inefficiency, both in production and households and in the general equilibrium. The inflation generated by the credit system stimulates the change in the price level and perpetuates this inefficiency. Thus, if the authors want to return to the optimality condition, the interest rate on consumption credit must be zero or Qarz-al-Hasna is breached. However, the behavior of the fractional banking system and the credit mechanism teaches us that the money interest rate is an integral part of credit and loanable funds. Thus, the elimination of the money interest rate from the banking system without bank creation is implausible. Finally, to ensure Pareto optimality, it has been mathematically proven in the field of microfoundation that there should be no fixed money contracts and no money interest rate. It is necessary that the interest rate on consumption credit is zero, or Qarz-al-Hasna is broken. Moreover, profit sharing is offered in the production sector. The result is that no money and credit are created. The provision of this system compensates money by increasing the real money supply or deflation. Originality/value: The capitalist theory of the definition of interest plays a decisive role in economic science. In this context, the authors are dealing with different vocabularies and terms for the interest rate. These different vocabularies have their origin in the different economic situations and especially determine the thinking of the schools. Because of the relationship between future and spot, the authors have to transform the variable "level" into the variable "interest rate" in the dynamic space. Finally, the exact explanations for the movement and evaluation of the economy are revealed by the correlation of the different interest rates. [ABSTRACT FROM AUTHOR]

With ever-increasing political tensions between China and Russia on one side and the EU and the US on the other, it only seems a matter of time until protectionist policies cause a decoupling of global value chains. This paper uses a computable general equilibrium trade model calibrated with the latest version of the GTAP database to simulate the effect of such a decoupling–implemented by doubling non-tariff barriers–between the two blocks on trade and welfare. Imposing import barriers almost completely eliminates bilateral imports. In addition, changes in price levels lead to higher imports and lower exports of the imposing country group from and to the rest of the world. The targeted country group increases exports to the rest of the world and reduces imports. Welfare falls in all countries involved, suggesting that governments should strive to cooperate rather than turn away from each other. By imposing a trade war on Russia, the political West could inflict severe damage on the Russian economy because of the latter's smaller relative economic size. [ABSTRACT FROM AUTHOR]

The world market of hotel services is constantly changing, has a dynamic structure, develops in interaction with other markets of goods and services, is influenced by the market environment. Therefore, modern hotels have to adapt to a new type of tourists with rather high requirements for accommodation conditions. In Europe, there is a tendency to stay in 1* and 2* hotels. The study covers data from such Polish cities as Wroclaw, Poznan, Gdansk. And they are the spatial series, on the basis of which regression mathematical models are built for evaluating the trends of changes in the level of prices for the corresponding hotel rooms. The series are spatial because the data are collected at a specific moment in time, but from different objects located geographically at different points. The built models are not representative, but they provide an opportunity to assess the trends of price growth or decline and the possibility of entering into crisis economic manifestations. The work is devoted to the analysis of trends in hotel room price changes and the evaluation of these changes using the construction of regression economic-mathematical models of space and time series. The relevance and significance of the study lies in the analysis and assessment of price trends for standard hotel rooms in the popular segment of 1* and 2* hotels in Poland. This country is Ukraine’s closest neighbor, therefore the study of economic trends in the development of its hotel industry is relevant not only for trends in Europe, but also for the future of the hotel segment of our country. The trends in the development of the hotel industry in Europe and in Poland in particular are analyzed. Extensive statistical material has been collected, which is up-to-date, because the figures are taken from booking sites as of November 2022. Most often, the analysis of economic trends in the development of the hotel industry is based on expert assessments or statistical data from travel agencies. The conducted analysis is based on approaches to mathematical modeling and the use of mathematical and statistical tools of the Microsoft Excel software. The conducted analysis showed the presence of a mathematically defined tendency towards a moderate increase in prices for «STANDARD» hotel rooms. The price function for these hotel rooms is increasing and crosses the growth limit which is the corresponding exponential function built on the base of the same spatial number series. [ABSTRACT FROM AUTHOR]

Research background: The aim of the article is to compare Polish and US dividend companies with potential growth with dividend companies with potential value, including in the period of economic turbulence caused by the pandemic, and to identify macroeconomic determinants that affect changes in the level of share prices of dividend companies with potential value listed on the stock exchange in Poland and the US. An analysis of the literature and international studies conducted allows us to identify inflation, gross domestic product (GDP), interest rate levels, exchange rate changes, and market P/E and P/BV ratios, as well as the PMI index, as the most important macroeconomic factors. Purpose: The aim of the article was to present research on the impact of macroeconomic indicators on the prices of Polish and US shares of dividend companies, divided into shares with potential value and potential growth for the period 2016–2020. The research was enriched by analyzing the return rate on shares and the risk of the share prices of companies with potential value during the turbulence of the economy caused by the COVID-19 pandemic. Research methodology: The study was conducted using the Spearman rank correlation coefficient and significance test for the Spearman rank correlation coefficient. A non-parametric t-test was carried out to check whether the estimated correlation is statistically significant. Results: The research indicates that Polish and US dividend companies with potential value have lower average annual return rates than dividend companies with potential growth. Referring to the determinants of the share prices of US dividend companies with potential value, it was found that they are significantly determined by inflation and moderately determined by industrial production and GDP, as well as the P/BV ratio. Novelty: The added and application value are the recommendations regarding the attractiveness of investing in Polish dividend companies with potential value as compared to companies from the US market. [ABSTRACT FROM AUTHOR]

In recent years, the world is facing various changes. As a result, global interest in sustainability has increased. Firms and investors have begun to focus on environment, social and governance (ESG) investments. Unlike other investment activities, ESG investment activities contribute to surrounding communities by improving ESG. Although Japan had been passive in ESG investment activities as compared with Europe and the US, interest in ESG investment is growing in Japan. However, the recent rapid depreciation of the yen in relation to other currencies and the price inflation in Japan would have negative impacts on ESG investment in Japan. Specifically, the price inflation can put pressure on consumers' lives and corporate management. Thus, firms may be unable to undertake ESG investment. This argument points out one of the disadvantages of ESG investment (i.e. taking a long time to realise its outcome). To overcome this issue, stabilising price levels and economic conditions in Japan, as well as ensuring corporate management that can withstand medium- to long-term investment, is necessary. [ABSTRACT FROM AUTHOR]

Based on what we have witnessed in the last two years from several uncontrollable factors, such as natural disasters, disease pandemics and wars, it is worth exploring the potential rising prices of coffee-based products in the future. This research aims to find out people's perceptions about the actual prices of coffee and their reasoning for their continuous financial contribution to the coffee-based industry. It is also looking for solutions regarding a suitable increase in the price range to maintain customer interest in coffee-based products in the Romanian market. Presuming that the target customers have already noticed the change in prices, different data-gathering methods come into effect to determine the level of awareness that a regular customer has regarding said price fluctuations. This will aid in providing answers to our research problem: How much can the prices be increased before profits drop significantly? The research sample consisted of 22 international people and the data found was processed to obtain the best accuracy of the results, in SPSS. [ABSTRACT FROM AUTHOR]

This paper made an in-depth analysis of the articulation between a substation's design parameters and water supply and drainage structure quantities and costs, innovatively built a hierarchical structure model of influencing factors of quantities, and eventually extracted the key parameters affecting quantities. Meanwhile, the influence path of the price level change on the water supply and drainage structure costs was also analyzed in this paper. The BP neural network model and linear regression model were employed to estimate the ontology engineering cost and the price difference due to preparation time, so as to realize the purpose of quickly estimating the cost of substation water supply and drainage structure by knowing a few key parameters. Through calculation and stimulated analysis, the error of the model is controlled within ±3%, which provides an effective tool for quickly estimating the cost of substation water supply and drainage structure. Therefore, this model has practical significance and application value. [ABSTRACT FROM AUTHOR]

We investigate the interest rate risk exposures of euro area banks during times of crises and very low interest rates. First, we assess sensitivities of banks' stock prices to changes in the level, slope and curvature of the yield curve using the Bayesian DCC M‐GARCH model. Our findings reveal that stock price sensitivities change over time and that, on average, banks benefit from increases in the level, slope and curvature of the yield curve. Second, we observe that banks with higher capital ratios, more customer lending and less deposit financing are particularly sensitive to interest rate movements. [ABSTRACT FROM AUTHOR]

While the pattern of composition of sectoral output and consumption are well stylised during growth and structural transformation of an economy, the evidence on the movement of inter‐sectoral relative price is mixed across countries. This paper investigates how demand and supply side forces simultaneously shape structural transformation and the path of relative price in a two‐sector economy comprising an agricultural and a non‐agricultural sector. The model incorporates non‐homothetic preference, heterogeneous sectoral production functions with heterogeneous and exogenous total factor productivity growth. We further investigate how the equilibrium path of relative price contributes to inflation measured by proportionate changes in the aggregate price level which is an index of sectoral prices. We find that the equilibrium rate of inflation is always positive during structural transformation. The rate of inflation increases with increase in growth rate of the non‐agricultural sector and with a higher preference for agricultural goods, and reduces with an increase in the growth of the agricultural sector. [ABSTRACT FROM AUTHOR]

The article discusses the limitations of historical cost accounting and the proposed alternative of general price level adjustment (GPLA) standards. It argues that historical cost financial statements are distorted under inflationary conditions, as they understate the cost of a firm's assets and overstate its debt obligations. However, the article suggests that GPLA standards have failed to gain traction because they cannot replace the assessments made by financial intermediaries and market participants. The author concludes that while historical cost accounting has its weaknesses, the alternative of GPLA has not proven to be superior. [Extracted from the article]

This paper proposes a theory of excess price fluctuations in over‐the‐counter secondary markets. When heterogeneous assets trade under asymmetric information, a quality effect emerges: high liquidity lowers the quality of the pool of sellers and decreases future liquidity. Cyclical equilibria can arise even without fundamental shocks. In a cycle, investors speculate by bidding up the price of low‐quality assets, anticipating a high resale price at the peak. When this resale effect is strong, cycles disappear and multiple steady states coexist with different levels of liquidity. The model rationalizes empirical patterns for corporate bonds and housing in particular. [ABSTRACT FROM AUTHOR]

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Energy is an essential factor for the survival of industries. Energy can affect the industrial productivity related to the economic activities, and the fluctuation of energy price will influence the final energy consumption level. In this paper, we use the input–output price model to study the relationship between the fluctuation of energy price and the change of economic level under different price control scenarios. The results show that the energy price fluctuation has high conduction efficiency on the general price index in the non-price-regulated scenario. Comparing the simulation results obtained from different years, this paper found that the magnitude of price conduction effect is closely related to the proportion of energy consumption. When the energy price is regulated by the government, the conduction effect of the energy price is limited. The policy effectiveness of regulation is related to the extent of price volatility of energy sources located at the upstream of the production chain of the regulated object. Through the SVAR model, this paper also found that the conduction effect of energy price fluctuation has obvious hysteresis, and the lag period of conduction effect on PPI is longer than that on CPI. [ABSTRACT FROM AUTHOR]

We develop a model of deforestation using a real option on agricultural land conversion and establish an important link between agricultural commodity price volatility and forest loss. Higher price volatility of staple commodities increases incentives to delay land conversion and is associated with lower levels of deforestation. Using satellite‐derived estimates of local deforestation and high‐frequency local maize prices across a panel of market catchments across 26 countries in sub‐Saharan Africa, we find strong empirical evidence that maize price volatility is negatively associated with forest loss. Our findings are driven by catchments in biomes that are relatively well‐suited to maize production. Instrumenting for changes in price levels and price volatility with spatially explicit temperature and rainfall anomalies yields results consistent with our main approach. The findings highlight important tensions between agricultural price stabilization policies, conservation efforts, and environmental externalities. [ABSTRACT FROM AUTHOR]

Price changes, as measured by the Consumer Price Index (CPI) had remained relatively stable for the last number of years, with annual changes in the CPI remaining under +2.0% between September 2012 and June 2021 inclusive. While prices decreased on an annual basis through much of 2020, inflation has been increasing since April 2021 and has been at least 5.0% since October 2021. The annual inflation rate of 9.2% measured in October 2022 is the highest seen since Quarter 2 1984 when annual inflation stood at 9.7%. The increasing rate of inflation since the middle of 2021 has prompted a greater interest in price change and its effect on households. The CPI is designed to measure the annual rate of inflation, i.e. the change in the average level of prices for consumer goods and services. Thus, the CPI is a measure of average inflation, based on average expenditure weights. However, every household has its own unique consumption pattern and therefore its own personal experience of inflation. Households that spend a higher proportion of their total expenditure on goods and services that are increasing in price by more than the rate of inflation, will experience higher inflation than the CPI average rate. While it would not be feasible to calculate inflation for each individual household, research in Ireland and other countries has highlighted the value of compiling inflation estimates for different groups or cohorts of the population. This paper begins by presenting the history of changes in the cost of living in Ireland over the last 100 years and outlines how the drivers of those price changes have evolved over time. It then presents results from the Household Budget Survey (HBS) which can be used to estimate inflation rates for various household groups. Estimated rates of inflation for the five-year period up to September 2022 are presented for households grouped by equivalised gross household income deciles, by household tenure, by the location of the household (urban/rural), by the age of the household reference person, and by the composition of the household. Finally, the paper demonstrates how those estimated inflation rates for the various household groups have evolved in the last five years. [ABSTRACT FROM AUTHOR]

Even though the Gamo zone is a prevalent mango producing area in Ethiopia, the lack of comprehensive post-harvest loss research along the mango value chain prevents respective stakeholders from recognizing the socioeconomic, nutritional and environmental significance of the post-harvest loss problem. Improving the post-harvesting handling practice not only increases the production by reduction of post-harvest loss but also increases food access at the market level with prices adjustment. Therefore, this study was intended to assess the post-harvest loss along the mango value chain and the challenges that actors and stakeholders face in the process. To do this, 120 mango producers were selected following a multistage sampling procedure. The analysis result shows that the main reasons for the low productivity of mango are the use of the local variety, disease and insect pests and lack of improved harvesting technologies. The result also shows about 41% of mango loss in the study area was due to a lack of improved harvesting mechanism and infection by disease and pests and poor transportation mechanisms. From this loss, the harvesting stage shares the largest share (18%) along the mango value chain. In addition, lack of improved mango varieties, lack of cooperative and wholesale marketing and lack of value addition practice are the major identified problems in the study area. There is also a huge loss of mango production in the study area that needs immediate intervention from respective stakeholders. Thus, dissemination of improved varieties through the distribution of seedlings, modifying the existing harvesting materials and introduction of improved harvesting technologies, strengthening the cooperative marketing and supporting alternative products development through processing was suggested. [ABSTRACT FROM AUTHOR]

The Venezuelan hyperinflation process has caused serious economic and social consequences. The wave of migrants and refugees fleeing the country is one of the most obvious and important faces of the problem, with significant regional impacts. This paper aims to develop a methodology, related to the New Economic Geography, to explain Venezuelan labour migration flow from changes in the price level. Results from the model's simulations show that in the short run (1‐year horizon), Venezuelan industrial and agricultural workers tend to emigrate to nearby countries. However, in the long run (10‐year horizon), the decision is based on real wage differential. [ABSTRACT FROM AUTHOR]