Saturday, March 1, 2025
From a paper by Junyi Xiang, Dongmin Kong, and Fan Zhang:
“Labor cost has rapidly increased in the past decades. However, little is known about its effect on the firm-level robot adoption, and evidence about the consequences of robot adoption on firm production is limited. Based on a novel dataset of robot adoption at the firm-level, we use geographic discontinuity design to identify that labor costs significantly increase robot adoption and further improve product quality. Our findings are robust to alternative specifications and particularly pronounced for foreign firms, and firms with low financial constraints, and general trade, and firms more dependence on unskilled labor, and firms in higher position in the value chain. When adopting robots to substitute labor, firms tend to employ (layoff) skilled (unskilled) labors, which increases expenses on employee training.”
From a paper by Junyi Xiang, Dongmin Kong, and Fan Zhang:
“Labor cost has rapidly increased in the past decades. However, little is known about its effect on the firm-level robot adoption, and evidence about the consequences of robot adoption on firm production is limited. Based on a novel dataset of robot adoption at the firm-level, we use geographic discontinuity design to identify that labor costs significantly increase robot adoption and further improve product quality.
Posted by 9:06 AM
atLabels: Inclusive Growth
From a paper by Jinfang Pu, and Fangzhou Xia:
“As global climate change intensifies and urbanization accelerates, research on urban climate change has become a global concern. Urban decision-makers must determine optimal city sizes to achieve net-zero emissions. However, previous studies have mainly focused on average relationships between city size and carbon emissions, overlooking non-linear dynamics. This study used urban scaling laws to investigate relationships between city size and carbon emissions from population and land perspective across 294 Chinese cities. Results showed a sub-linear relationship between urban population size (UPS) and carbon emissions and a super-linear relationship between urban land size (ULS) and carbon emissions. Regionally, cities in central regions demonstrated higher carbon emission performance than those in western and eastern regions. The land perspective indicated lower carbon emission performance compared to the population perspective. Both perspectives revealed non-linear relationships between city size and urban scaling exponent for carbon emissions, characterized by multiple minima. Multiple city sizes can achieve optimal carbon emissions; however, only one ULS is ideal for a specific city size to ensure environmental sustainability. This study provides valuable policy insights for decision-makers in formulating reasonable low-carbon strategies.”
From a paper by Jinfang Pu, and Fangzhou Xia:
“As global climate change intensifies and urbanization accelerates, research on urban climate change has become a global concern. Urban decision-makers must determine optimal city sizes to achieve net-zero emissions. However, previous studies have mainly focused on average relationships between city size and carbon emissions, overlooking non-linear dynamics. This study used urban scaling laws to investigate relationships between city size and carbon emissions from population and land perspective across 294 Chinese cities.
Posted by 9:05 AM
atLabels: Energy & Climate Change
Friday, February 28, 2025
From a paper by Dario Guarascio, Jelena Reljic, and Francesco Zezza:
“This paper analyses energy vulnerability and resilience in the EU. First, a comprehensive review of the relevant literature is carried out, discussing key concepts and indicators used to assess countries’ relative positioning vis-à-vis energy shocks. Second, we rely on a large set of indicators (i.e., share of energy intensive industries, import dependency and market concentration, productive and technological capabilities in the renewables domain, policy efforts to increase energy resilience) to provide a thorough mapping of EU Member States’ positioning in terms of energy vulnerability and resilience. Third, we assess industrial and energy policy actions put in place at both the EU and the national level, highlighting relevant heterogeneities and discussing whether policy efforts are consistent with the degree of vulnerability of Member States.”
From a paper by Dario Guarascio, Jelena Reljic, and Francesco Zezza:
“This paper analyses energy vulnerability and resilience in the EU. First, a comprehensive review of the relevant literature is carried out, discussing key concepts and indicators used to assess countries’ relative positioning vis-à-vis energy shocks. Second, we rely on a large set of indicators (i.e., share of energy intensive industries, import dependency and market concentration, productive and technological capabilities in the renewables domain,
Posted by 11:44 AM
atLabels: Energy & Climate Change
On cross-country:
Working papers and conferences:
On the US—developments on house prices, rent, permits and mortgage:
On the US—other developments:
On China:
On Australia and New Zealand:
On other countries:
On cross-country:
Working papers and conferences:
On the US—developments on house prices,
Posted by 5:00 AM
atLabels: Global Housing Watch
Thursday, February 27, 2025
From a paper by Joshua Aizenman:
“A growing share of emerging markets (EMs) uses hybrid versions of inflation targeting that differ from the IT regimes of the OECD countries. Real exchange rate and international reserve changes affect the policy interest rates in commodity countries, aiming to stabilize their real exchange rate in the presence of volatile terms of trade and heightened exposure to capital inflow/outflow shocks. Inflation targeting works well with independent central banks, yet fiscal dominance concerns may hinder the efficacy and independency of central banks. This suggests experimenting with the integration of monetary rules and fiscal rules, possibly linking these rules with the operations of buffers like international reserves and sovereign wealth funds (SWFs). The global financial crisis validated the benefits of countercyclical management of international reserves and SWFs in reducing the volatility of real exchange rates. Macroprudential policies may complement or even substitute buffer policies by reducing a country’s balance sheet exposure to foreign currency debt, mitigating the risk of costly sudden stops and capital flight. A growing share of EMs is experiencing exposure to new financial technologies (fintech), providing cheaper and faster financial services and extending financial coverage to previously under-served populations. Deeper fintech diffusion may redirect financial intermediation from regulated banks to emerging fintech shadow banks, some of which may have a global reach. These developments, and the diffusion of cryptocurrencies promising anonymized payment systems, may hinder the effectiveness of monetary policy and eventually induce greater financial instability. States may encourage the diffusion of efficient financial intermediation in ways that benefit users while restricting the use of anonymized exchange and global monies to reduce the threat of a shrinking tax base and to maintain financial stability.”
From a paper by Joshua Aizenman:
“A growing share of emerging markets (EMs) uses hybrid versions of inflation targeting that differ from the IT regimes of the OECD countries. Real exchange rate and international reserve changes affect the policy interest rates in commodity countries, aiming to stabilize their real exchange rate in the presence of volatile terms of trade and heightened exposure to capital inflow/outflow shocks. Inflation targeting works well with independent central banks,
Posted by 10:50 AM
atLabels: Inclusive Growth
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