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The Intersection of Philosophy and Economics: Building a More Equitable Future with Sociological Insights
Get PDFThe purpose of this research spans empirical analysis, analytical sociology- or mechanism-based modeling of individual, and network, level social phenomena. An adequate empirical question and analysis are proposed as the foundations for any valid subsequent social mechanism analysis of network effects
Energy Consumption and Production with new Posibilities
Get PDFReducing harmful emissions and decreasing costs of large weather problems is the aim of today. This means new strategies and investment in renewable types of energy.
The most countries still linger in old system contributing to its own problems. If problems are not locally solved the world initiatives will reach the end point
Heterogeneous Exposures to Systematic and Idiosyncratic Risk across Crypto Assets: A Divide-and-Conquer Approach
Get PDFThis paper analyzes realized return behavior across a broad set of crypto assets by estimating heterogeneous exposures to idiosyncratic and systematic risk. A key challenge arises from the latent nature of broader economy-wide risk sources: macro-financial proxies are unavailable at high-frequencies, while the abundance of low-frequency candidates offers limited guidance on empirical relevance. To address this, we develop a two-stage ``divide-and-conquer'' approach. The first stage estimates exposures to high-frequency idiosyncratic and market risk only, using asset-level IV regressions. The second stage identifies latent economy-wide factors by extracting the leading principal component from the model residuals and mapping it to lower-frequency macro-financial uncertainty and sentiment-based indicators via high-dimensional variable selection. Structured patterns of heterogeneity in exposures are uncovered using Mean Group estimators across asset categories. The method is applied to a broad sample of crypto assets, covering more than 80% of total market capitalization. We document short-term mean reversion and significant average exposures to idiosyncratic volatility and illiquidity. Green and DeFi assets are, on average, more exposed to market-level and economy-wide risk than their non-Green and non-DeFi counterparts. By contrast, stablecoins are less exposed to idiosyncratic, market-level, and economy-wide risk factors relative to non-stablecoins. At a conceptual level, our study develops a coherent framework for isolating distinct layers of risk in crypto markets. Empirically, it sheds light on how return sensitivities vary across digital asset categories -- insights that are important for both portfolio design and regulatory oversight
The Heterogeneous Effects of Economic Freedom on Labor Market Outcomes
Get PDFThis paper shows how economic freedom can have heterogeneous effects on unemployment rates, employment-population ratios, and labor force participation. Our difference-in-difference approach compares counties in metropolitan statistical areas that straddle state borders, isolating own-state effects of economic freedom. Although overall economic freedom does not significantly affect labor market outcomes for the entire population, its effects are diverse and varied according to age, educational attainment, sex, and race. This empirical study also examines the heterogeneous effects of specific areas of economic freedom (government spending, taxation, and labor market regulations), highlighting the complexity of these relationships and suggesting that economic freedom is not a one-size-fits-all policy approach
Drought in the sertão versus violence in the city: A study on the Brazilian semi-arid region
Get PDFThis study aimed to investigate how water scarcity and periods of drought can affect firearm homicide rates in the Brazilian semi-arid region between 2002 and 2020. To this end, the methodology of inference in counterfactual distributions proposed by Chernozhukov, Fernández-Val and Melly (2013) was employed. The main findings indicate that periods of severe drought have a significant impact on homicide rates in the semi-arid region. These effects are more pronounced when associated with factors such as the presence of rural municipalities and the migration process. In other words, there is strong evidence that drought in the hinterlands/countryside contributes to the increase in crime rates in both urban and rural municipalities. Additionally, the decomposition of the results revealed that periods of extreme drought, coupled with other unfavorable factors, act as triggers for the increase in homicide rates in the Brazilian semi-arid region, significantly exacerbating conditions of vulnerability during these adverse climatic shocks
Behavioural and psychological insights in climate policy
Get PDFThe current work examines the role of behavioural and psychology science in the design and implementation of climate policies. By synthesizing evidence from diverse disciplines, we develop an analytic framework to assess how behavioural and psychological insights can close the intention-action gap and enhance policy effectiveness. Drawing from recent studies on psychological adaptation, social norms, and policy instrument design, we argue that integrated, context-sensitive behavioural strategies can facilitate large-scale sustainable transformation. The paper emphasizes the limitations of current behavioural approaches and proposes robust, interdisciplinary policy architectures aimed at fostering equity, engagement, and long-term impact
Pauvreté, insécurité alimentaire et malnutrition en Afrique subsaharienne
Get PDFIn the 21st century, Africa has some of the highest levels of hunger and malnutrition in the world, which is incompatible with the vision of the African Union. Food and nutritional security is a fundamental right of every person. However, many Africans are deprived of this right. Reports by the FAO and WFP indicate the emergence of an acute food crisis in at least 27 countries. This crisis has escaped the attention of the general press and the political sphere in the West. Yet this is crucial for understanding the reasons behind current migration flows, as well as for stimulating the necessary solidarity interventions. Poverty and malnutrition result from uncontrolled rapid population growth, inefficient agricultural and industrial practices, the high debt profiles of many African countries due to poor governance and corruption, and diseases such as the AIDS epidemic, malaria, the Ebola virus and the current pandemic of the SARS-CoV-2 virus. Other factors include poor and inadequate health infrastructure and armed conflicts. Despite an abundance of natural resources, the gross domestic product per capita of many African countries is among the lowest in the world. According to FAO data, over 200 million people in sub-Saharan Africa were undernourished between 2014 and 2016. The prevalence of undernourishment in sub-Saharan Africa increased from 181 million people in 2010 to 222 million in 2016. In 2016, Africa had the highest prevalence of undernourishment in the world, estimated at 20% of the population. Poverty is the main cause of hunger and malnutrition in Africa, while hunger and malnutrition exacerbate the problem of disease on the continent. Poverty continues to plague Africa as a result of poor economic policies, conflict, war, environmental factors such as drought and climate change, population growth, poor leadership and greed. This situation is further exacerbated by the vicious cycle of poverty, disease and illness. Whether directly or indirectly, due to inadequate food consumption and poor diet quality, it is also accountable for over half of all deaths among children in Sub-Saharan Africa. Sociocultural barriers are major hindrances in some communities, with female children usually being the most affected. Corruption and lack of government interest and investment are key players that must be addressed to solve this problem. Malnutrition was highest within countries in East Africa and West Africa compared to the WHO Millennium development goals target for 2015. The system dynamics simulations forecast a rather gloomy future for the agro-food sector in SSA. Even the historically highest development rate of agricultural production will not be enough to meet the rapidly increasing demand for food
Harrodian Instability and Induced Technical Change
Get PDFThis paper presents a demand-led growth model augmented with induced technical change to address the two Harrod's problems in growth theory. Building on recent developments in the supermultiplier literature, we investigate how both Harrodian instability problems can be resolved through two complementary mechanisms: (1) autonomous, non-capacity-creating demand components growing at an exogenous rate, and (2) endogenous technical change responsive to income
distribution. While existing supermultiplier models show how autonomous expenditures stabilize demand-led growth, we integrate induced technical change into the determination of the natural rate of growth.
The model achieves twin stabilization through the interplay of two stabilizing mechanisms: the supermultiplier and induced technical change. On the one hand, demand shocks are absorbed via adjustments in the investment share, allowing capital accumulation to align with the exogenously determined growth rate of autonomous expenditures. On the other hand, labor market imbalances trigger productivity adjustments that reconcile natural and warranted growth through changes in the wage share. This dual adjustment mechanism allows the system to sustain normal capacity utilization and stable employment rates, while preserving demand-led growth outcomes.
The results suggest that incorporating induced technical change enhances the supermultiplier's capacity to address both of Harrod's instability problems within a unified demand-led framework
An Adaptive RAG-Based Question-Answering System in the Context of Industry 5.0
Get PDFIn this paper, a pragmatic literature review approach has been shown to select research papers to determine important technologies in the context of Industry 5.0 or I 5.0 such as Artificial Intelligence (AI), Internet of Things (IOT), Collaborative Robot (Cobot), Cyber Physical System (CPS), Human Machine Interface (HMI), Edge Computing, Big Data, Digital Twin, Virtual Reality (VR), Reinforcement Learning (RL), Large Language Model (LLM), Multiple Criteria Decision Analysis (MCDA) etc. The crux of this paper is to develop an economical Adaptive RAG-based (ARAG) system which could generate contextual relevant responses to a user’s query. A two-stage hybrid zero-resource hallucination detection system has been developed to detect hallucinations in the generated response. A binary classifier has been developed using Mistral 7B for fact checking against reliable resources and a panel of multiple Large Language Models (LLMs), namely, Mistral 7B, Llama 3 8B, and Llama 2 7B, has been used to evaluate the factual accuracy of the generated response asynchronously using the 5-point Agreement Scale. Mistral 7B has shown a very high correlation with human judges. Open source or free resources are used to develop the ARAG, and, thus, the ARAG is economical. A brief discussion on multilingual responses is also included
Chocs et redéfinition des objectifs macroéconomiques vers une redéfinition du rôle de l’État
Get PDFThis paper explores how both external and internal shocks act as catalysts for the reassessment of macroeconomic objectives and the redefinition of the role of the State in economic governance. In recent decades, a succession of economic crises—ranging from global financial disruptions to pandemics and commodity price volatility—has exposed the structural weaknesses and limitations of prevailing macroeconomic paradigms. These traditional frameworks, often centered on market efficiency and minimal state intervention, have proven insufficient in addressing systemic vulnerabilities and ensuring long-term stability, particularly in developing and resource-dependent economies.
The paper argues that these shocks necessitate a paradigmatic shift in public policy orientation, whereby the State must evolve from a passive market facilitator into an active economic stabilizer and strategic investor. Drawing on empirical insights and theoretical frameworks, the authors analyze how governments can play a proactive role in strengthening economic resilience through counter-cyclical policies, strategic investment in public goods, and improved institutional capacity.
Particular attention is given to the African context, where economic structures are often highly sensitive to exogenous shocks due to limited diversification, weak fiscal buffers, and overreliance on commodity exports. In such settings, the need for adaptive and forward-looking policy frameworks becomes even more pressing. The paper underscores the importance of redefining fiscal and monetary priorities, not only to manage shocks in the short term but also to lay the groundwork for inclusive and sustainable development.
Furthermore, the authors emphasize the role of the State in promoting structural transformation through targeted support for key sectors, infrastructure development, and investments in human capital. A strategic public sector engagement, guided by clear macroeconomic objectives, can reduce socioeconomic inequalities and create the conditions for a more robust and self-reliant economy.
In conclusion, the paper advocates for a recalibration of macroeconomic governance that places resilience, sustainability, and equity at the core of policy design. Such a transformation calls for rethinking the balance between markets and the State, not as a binary choice, but as a dynamic complementarity necessary for development in an increasingly uncertain and interdependent global economy