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The honest truth about true pricing
Get PDFTrue pricing has progressed from an abstract notion to a real life phenomenon as a way to make consumers aware of the genuine costs to society of products. Our paper analyzes the impact of true prices on competition. Our model uses a straightforward differentiated Bertrand set-up where consumers can choose to pay the true price or the normal price. There are consumers who strongly prefer not to cause externalities. These consumers will opt to pay the true price. Other consumers receive less disutility of causing externalities. They will pay the normal price. Our findings are that setting the true price can be an equilibrium strategy for one or both firms. True prices can be welfare enhancing, but it comes at a cost. True prices harm consumers that do not value external effects as it raises the normal price. A comparison of true prices with taxation of the external effect shows that both can be socially optimal. Taxation is better because it covers both types of consumers, and worse because it overcorrects in the presence of market power. The paper demonstrates the value of analyzing competitive effects of environmental initiatives
Econometrics and Public Health analysis: Panel Data using Feasible Generalized Least Squares
Get PDFEconometrics in general, and Panel Data methods in particular, are becoming crucial in Public Health Economics and Social Policy analysis. In this discussion paper, we employ a useful approach of Feasible Generalized Least Squares (FGLS) to assess if there are statistically relevant relationships between hemoglobin (adjusted to sea-level), weight, and height for the period 2007–2022 in children up to five years of age in Peru. By using this method, we may find a tool that allows us to confirm if the relationships considered between the target variables by the Peruvian agencies and authorities are in the right direction to fight against chronic malnutrition and stunting
Geopolitical Instability and Its Ripple Effects On Service Trade
Get PDFGeopolitical risks affect global economies, particularly the services trade, which makes up 20% of total trade. Understanding these risks is key because they can impact inflation, GDP growth,
the financial sector, and supply chains. The aim of the research is to examine the worldwide pattern of geopolitical risk and its significance on the trade of services, to measure how much global
disputes and risk, as explained in the GPR Index, impact service trade, and to know how strong a regulatory system helps to mitigate the impacts of such threats. The Pseudo-Poisson Maximum
Likelihood is used in the study to assess the adverse impact of geopolitical risks on international service trade using a panel dataset comprising 44 countries from 2011 to 2021. The study finds a negative effect of geopolitical factors on service trade and further finds that an effective regulatory system can reduce the negative impact of such geopolitical disruptions. The results may
assist policymakers in gauging the economic cost of geopolitical risk and in designing policies to neutralise its disruptive potential
Fertility Decisions under Coexisting Pay-as-You-Go Pensions and Unemployment Insurance
Get PDFThis study investigates the effects of increased tax rates on fertility decisions, pension benefits, and unemployment benefits in an economy with both a pay-as-you-go (PAYG) pension system and unemployment insurance. By incorporating voluntary unemployment, the model highlights how higher tax rates reduce households’ willingness to work, thereby affecting the social security system through the production channel. The analysis also reveals differing impacts of the two types of labor income taxes
Economic sensitivity nexus and the minerals industry
Get PDFThis paper analyses the sensitivity nexus between the minerals industry and the aggregate economy to changes in macroeconomic indicators in South Africa. This is achieved by augmenting a Taylor (1993) type central bank monetary policy reaction function with selected macroeconomic indicators and comparing the reaction of the minerals industry and the aggregate economy to changes in these macroeconomic indicators. The results provide evidence of a statistically significant higher sensitivity of total output to an unexpected, or surprise, increase in monetary policy interest rate, compared to output of the minerals industry. The results further show a lower sensitivity of total output to an unexpected, or surprise, increase in government expenditure, commodity prices, foreign exchange rate, foreign direct investment, financial market, business confidence, business confidence and market uncertainty, compared to output of the minerals industry. The results finally show mixed sensitivity of total, or economy wide, output to an unexpected, or surprise, increase in geopolitical risk and external, or foreign, demand, compared to output of the minerals industry. The fluctuations in various macroeconomic indicators are important for aggregate economic activity, hence policymakers should monitor developments in macroeconomic events to support economic growth and the minerals industry
Scoping review of the literature on the historical and economic evolution of the health systems of Chile, Uruguay, and Costa Rica
Get PDFThis article presents a scoping review of the scholarly literature on the historical, institutional, and economic evolution of the health systems of Chile, Uruguay, and Costa Rica. These three countries were selected due to their differing institutional trajectories—market-oriented (Chile), universal public (Costa Rica), and hybrid-transitioning (Uruguay)—as well as their shared current status of near-universal coverage and high human development. The review aimed to systematically map peer-reviewed publications to identify key institutions, landmark reforms, long-term quantitative indicators, and critical assessments of system performance.
A structured search was conducted in Web of Science, Scopus, and SciELO using terms related to health systems, institutional development, financing, and the three countries. After removing duplicates and applying thematic and geographic filters, 42 articles were selected for full-text analysis.
Findings show a disproportionate focus on Chile, reflecting its globally unique model of function separation and private insurance. Costa Rica's system is consistently framed around the centrality of the CCSS and its primary care reforms, though discussion of the private sector remains limited. In Uruguay, the 2007 reform establishing the Integrated National Health System (SNIS) receives positive coverage, while earlier periods remain underexplored. Across cases, available quantitative data is fragmented and short-term, limiting comparative and longitudinal analysis.
Despite coverage gaps, the review confirms key trends identified in broader literature and underscores the need to incorporate non-indexed sources—such as national reports and historical monographs—to fully grasp the institutional evolution of Latin American health system
From fossils to footsteps: How green economic transitions shape migration patterns
Get PDFThis study investigates how the transition to a green economy affects internal migration patterns across European Union regions. As carbon-intensive sectors decline due to decarbonization policies, certain regions experience structural economic changes that prompt labor reallocation and demographic shifts. Using a novel panel dataset at the NUTS-3 level (2011–2021), this paper estimates a series of random-effects models to assess how carbon-intensive regions differ in migration trends compared to unaffected areas. The analysis incorporates a range of socio-demographic and economic variables to test five hypotheses on the drivers of outmigration, including youth share, elderly population, regional wealth, and median male age. Results indicate that regions classified as “affected” by the green transition exhibit significantly higher outmigration rates. Moreover, interaction effects show that aging male populations amplify these migration trends, while other moderators—such as GDP per capita and youth share—have no significant impact. These findings contribute to the literature on just transitions by highlighting how demographic composition mediates the adverse effects of green restructuring. The paper emphasizes the need for targeted regional policies, particularly in aging and economically vulnerable areas, to ensure equitable outcomes of green economic transitions
Disinformation and “Bad” Financial Speculations: A Mechanism behind Financial Crises
Get PDFSome financial speculations are similar to gambling or Ponzi schemes because they are undertaken to extract other people’s economic resources. In this sense, there will be “good” and “bad” financial speculations. In this paper, I construct static and dynamic models of bad speculations and show that an important determinant of the amount of bad speculation is the economic cost (inefficiency) generated, particularly by disinformation that is disseminated for the speculation. The economic cost and amount of bad speculation are influenced by the ability and effort of regulatory authorities, and if that ability largely deteriorates, the amount of bad speculation will greatly increase and a financial crisis will occur. Hence, people must look for signs of deterioration of the ability of the regulatory authority to prevent financial crises
Coalitional substitution of players and the proportional Shapley value
Get PDFWe present a new axiomatization of the proportional Shapley Value. Our study is based on three axioms: efficiency, which ensures that the total worth of the grand coalition is fully distributed among the players; the disjointly productive players property, which states that removing a player who has no cooperative interactions with another player does not affect that player's payoff; and a new axiom that makes the difference to the classical Shapley value. This axiom, the coalitional substitution of players property, involves a scenario in which a player's cooperative contribution to a coalition is replaced by that of a group of new players whose combined individual worths match that of the original player. The key point is that the payoffs to the remaining players remain unaffected
Does a sense of intergenerational commitments modify farmers’ preferences for conservation tillage? Evidence from the choice experiment in Moldova
Get PDFThe expansion of conservation tillage helps to improve soil health in countries affected by the soil erosion, such as the Republic of Moldova. The main objective of this paper was to investigate Moldovan farmers’ preferences for the hypothetical policy scheme designed to promote conservation tillage in the framework of a discrete choice experiment. The heterogeneity of farmers' preferences was explained using the latent concept of a sense of intergenerational commitments (IC) via a hybrid choice model. We found that farmers are reluctant to adopt more advanced forms of conservation tillage (such as zero tillage) and prefer to choose minimum tillage. They positively value financial support (both direct payments and investment subsidies), while the availability of advisory support is not the key factor. We also found that farmers with greater sense of IC have less negative attitudes toward zero tillage and put less positive value on monetary aspects. It seems that these farmers are more driven by moral obligations to society and are less dependent on external support. Policy makers should continue to develop financial incentives to promote conservation agriculture practices but they should also be aware of the important role of farmers and agricultural policy from a social justice perspective