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This paper aims to provide a survey on the studies on incentive, especially non-monetary incentive like status. We intend to summarize the different studies in a concise manner and comment on the divergent views on valuation for status, relation between monetary and status incentives, the technique of modeling status and on the cost of introducing status. We also underline the some probable adverse consequences associated with the use of status incentive. In this paper it also highlights the problem associated with asymmetric information in the labour market, specifically, the (post contractual) moral hazard problem.

This paper finds that it is optimal to start a long-term emission-reduction strategy with significant short-term abatement investment, even if the optimal carbon price starts low and grows progressively over time. Moreover, optimal marginal abatement investment costs differ across sectors of the economy. It may be preferable to spend $25 to avoid the marginal ton of carbon in a sector where abatement capital is expensive, such as public transportation, or in a sector with large abatement potential, such as the power sector, than $15 for the marginal ton in a sector with lower cost or lower abatement potential. The reason, distinct from learning spillovers, is that reducing greenhouse gas emissions requires investment in long-lived abatement capital such as clean power plants or public transport infrastructure. The value of abatement investment comes from avoided emissions, but also from the value of abatement capital in the future. The optimal levelized cost of conserved carbon can thus be higher than the optimal carbon price. It is higher in sectors with higher investment needs: those where abatement capital is more expensive or sectors with larger abatement potential. We compare our approach to the traditional abatement-cost-curve model and discuss implications for policy design.

România a fost marcată, din punctul de vedere al tehnologiilor de comunicare, de mari mutații tehnologice care, parcurgând mai multe etape, au dus la modificarea modurilor de producere, difuzare și consumare a informației. Realizarea de noi rețele sau suporturi, cum ar fi sateliții, magistralele electronice sau discurile optice, a dus astăzi la crearea unei astfel de mutații, numită uneori drept “revoluție digitală”, aceasta putând avea repercusiuni semnificative asupra modului cetățenilor de a comunica, de a munci și chiar de a se distra. Obiective: Scopul acestei lucrări este acela de a oferi o viziune asupra elementelor care ar trebui îmbunătățite de către autoritățile ce au puterea și răspunderea de a face acest lucru, în vederea unei mai bune abordări asupra perspectivei viitorului administrației publice. Abordare: Acest articol s-a bazat pe o cercetare bibliografică a lucrărilor de specialitate care se concentrează pe tehnologiile folosite în vederea comunicării digitale, cu prioritate în sectorul public, având ca parte finală un studiu de caz ce întrunește informații completate de către cetățeni diferiți în cadrul unui chestionar pe tema abordată. Rezultate: Importanța pe care dezvoltarea acestor tehnologii o are asupra administrației publice trebuie înțeleasăși ca un mijloc prin se poate face față măsurilor actuale de austeritate și, pe termen lung, aceasta este utilă pentru a răspunde unei mai bune globalizări și, de asemenea, marilor provocări lansate de societate, luând totodată în considerare nevoile și cerințele acesteia.

This paper develops a model of valuation of investment projects which includes nano-medical scientific and industrial dynamics, and its regulation. First critically analyzes the literature on valuation of investments, arguing that the methodology of real options is the most appropriate. It is a model that overcomes the major limitations of valuation tools of traditional investment projects and reflects the complexity of the economics involved.

We show that the theorems in Hansen (2021a) (the version accepted by Econometrica), except for one, are not new as they coincide with classical theorems like the good old Gauss-Markov or Aitken Theorem, respectively; the exceptional theorem is incorrect. Hansen (2021b)corrects this theorem. As a result, all theorems in the latter version coincide with the above mentioned classical theorems. Furthermore, we also show that the theorems in Hansen (2022)(the version forthcoming in Econometrica) either coincide with the classical theorems just mentioned, or contain extra assumptions that are alien to the Gauss-Markov or Aitken Theorem.

In this paper, we employ Semi-APARCH model to measure and analyze the long-term and the short-term risk of Chinese 16 listed commercial banks between January 2007 and December 2013, and provide an early warning method for financial regulation by developing a scale function. We find that, first, during the financial crisis of 2008-2009, the long-term risk levels of Chinese banking industry as a whole and the individual commercial banks are very higher, they gradually declined to the normal level only after 2010. Secondly, the current risk of Chinese banks and banking industry is at lower level. Thirdly, the surging of overnight rate in 2013 increased the risk level of commercial banks, which could increase more, of which the regulator should be more cautious. Fourthly, the leverage-effects in the short-term risk of Chinese commercial banks are lower; t-distribution shows a fat-tail. Fifthly, the scale functions of commercial banks are highly correlated, the correlation coefficients are close to 1, which indicates a significantly systematically correlations between the long-term risk of Chinese commercial banks.

This study investigates the relationship between road infrastructure stock and total factor productivity (TFP) using R-JIP2017, a database of productivity by industry for each prefecture in Japan, which allows us to estimate TFP with considering the quality of inputs. Specifically, using the growth accounting method, we estimated TFP for each industry in each prefecture from 1972 to 2012, after the period of high economic growth. Afterwards, we conducted a panel data analysis to explain the estimated TFP by road stock. The results of a panel unit root test indicated the existence of unit roots in the road infrastructure stock. Therefore, unlike many previous studies, a panel autoregressive distributed lag (ARDL) model was used as the empirical model, considering the nonstationarity of the variables. The results of the analysis indicated that road stock had a positive and significant relationship with TFP at the 5% level in the majority of industries, even after the period of rapid economic growth. Further, we found that the two-way fixed effects model, which does not consider the non-stationarity of road infrastructure stock, could produce misleading results.

Indeed, the world economy is a complex system that has undergone many different phases in the past century. Particularly, the African economy is undergoing a series of transformations (transitions) that subject the future to considerable uncertainty, complexity and unpredictability. In fact, some transformations are cyclical while others are longer-term and more structural in nature. Yet, these transitions or emergence interact in shaping the future; making extrapolation from the past an increasingly unreliable source for future predictions. Thus unlike the previous revolutions, the fourth industrial revolution is characterized by the emergence of various technologies such as virtual (augmented) realities, nanotechnologies, 3D printing, machine learning, big data, cloud computing, drones, autonomous vehicles, robotics, artificial intelligence and blockchain technologies. Again, in this digitization era, work is constantly reshaped by technological progress, while firms adopt new ways of production and markets expand. In other worlds, digital technology brings opportunity, pave the way to create new jobs and increase productivity. Unfortunately, this paper argued that while the digital revolution has forged ahead, its analog complements (regulated entry and competition, new economy skills access and accountable institutions) have not kept pace in Africa. Consequently, African governments should formulate digital development strategies that are much broader than current ICTs strategies. That is, they should create a policy and institutional environment for technology that fosters the greatest benefits to African people of twenty-first century and beyond.

This study empirically investigates how the presence of CETA (Comprehensive Economic and Trade Agreement) may affect per capita emissions of four air pollutants. It follows closely the empirical work of (Qirjo et al., 2019), but it focuses in each category of GHGs. It finds statistically significant evidence suggesting that trade openness between the EU and Canada could help reduce per capita emissions of CO2, CH4, and N2O in a typical CETA member, respectively. In the case of CO2, the presence of CETA may help reduce per capita emissions in almost all CETA members. However, there is empirical evidence that suggests that per capita emissions of CH4 could move from the EU towards Canada due to the implementation of CETA. There is also empirical evidence implying that there could be a shift of emissions per capita of N2O from Canada towards 8 former EU members due to the implementation of CETA. There is mainly statistically insignificant evidence of a positive relationship between the trade intensity of each EU member and Canada and per capita emissions of HFCs/PFCs/SF6. Furthermore, the study reports unambiguous empirical evidence in support of the Pollution Haven Hypothesis originating from national population density variations (PHH2) for Canada, in the case of CH4. Moreover, there is also clear evidence consistent with the Pollution Haven Hypothesis due to national income differences (PHH1) for 8 former Communist EU members, in the cases of N2O and HFCs/PFCs/SF6.

Viewing local finances under the approach to private-public consumption complementarity, we conclude that foot voting and tax competition become extinct when the (capital) tax structure across jurisdictions is the one forging close ties between the burgher and his/her jurisdiction. Feeling the burgher attached to the local public goods offered and to the local business activity, prevents labor and capital relocation. The optimal number of jurisdictions is that which is conducive to the adoption of that local taxation that fosters such an attachment; taxation made possible by capitalizing upon private-public consumption complementarity. The intuitive appeal of this result is then contemplated within the broader framework of fiscal policymaking accommodative of citizen heterogeneity. In view of complementarity, there appears to be scope for decentralized treatment of citizen preferences via the localities, leaving the treatment of endowment differences to the central government