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Public goods, trust, and tax policy: shaping economic formalization
Get PDFThis paper develops a general equilibrium framework that integrates heterogeneous firms with both idiosyncratic productivity and subjective beliefs about public goods provision—specifically, confidence in institutional quality—alongside endogenous informality. We examine the impact of tax policy on the formalization process and highlight the crucial role of firms' trust in public institutions. Our findings reveal that when firms perceive the government as credible, an increase in both tax rates and tax revenues enhances public goods provision, fostering greater formalization. However, in environments with weak institutional trust, formalization policies may yield suboptimal economic outcomes—potentially even worsening conditions compared to scenarios with higher trust levels. This underscores how institutional confidence influences the productivity of formal firms and facilitates their transition into the formal sector. In the long run, effective tax policy can improve overall welfare, but its success is contingent on government credibility. Our research contributes to the literature on informality by providing novel insights for policymakers seeking to enhance formalization and economic welfare, particularly in settings where skepticism about government commitment and institutional capacity prevails
Climate change economics
Get PDFI briefy review and comment on some papers about climate change economics through time and space along the following exposition, especially centering on the work of William D. Nordhaus' dynamic integrated climate economy model (DICE) and other integrated
assessment models to study the effects of climate change on temperatures, amenities, and the economy more broadly
Effect of CO2 emissions on financial inclusion through physical financial access points
Get PDFThis study examines the effect of CO2 emissions from gaseous fuel consumption on financial inclusion through physical financial access points in non-crisis years. The findings reveal that higher CO2 emissions are associated with a high level of financial inclusion in European, Asian and developing countries, implying that CO2 emissions do not decrease the level of financial inclusion. CO2 emissions decrease the level of financial inclusion in African countries that have strong institutions and a high lending rate. CO2 emissions also decrease the level of financial inclusion in developing countries that have a high lending rate. The implication is that policymakers and banks in European, African and Asian countries should reduce their reliance on physical financial access points to increase financial inclusion. They should adopt digital financial inclusion strategies to mitigate the adverse effect of CO2 emissions on the physical financial access points provided by banks to increase financial inclusion
الناتج القومي ومحدداته الاقتصادية الكلية - GDP and Its Macroeconomics Deteminants
Get PDFThis study empirically investigates the impact of real interest rate, inflation, net trade, and exchange rate on Egypt's real GDP over the period 1990–2024 using an Ordinary Least Squares (OLS) regression model. The results reveal that real interest rate and inflation have a statistically significant negative effect on GDP, reflecting the contractionary nature of tight monetary conditions and price instability. The exchange rate shows a positive effect on GDP, suggesting currency depreciation may boost exports. Net trade, surprisingly, exerts a negative effect, highlighting structural imbalances in Egypt’s trade composition. The findings confirm the relevance of traditional macroeconomic frameworks, IS–LM, AD-AS, and Mundell Fleming, while emphasizing the unique features of Egypt’s economy. The study contributes policy-relevant insights to macroeconomic management in developing economies
Green Lending
Get PDFWe develop a model of green lending to study its implications for monetary policy and environmental regulation. Banks finance firms’ brown and/or green projects. The costs of brown projects increase with rising regulatory stringency or when endogenous monetary policy affects the cost of funds. Both policies can elevate the equilibrium share of green lending, resulting in greener output. Our findings remain consistent when we introduce central banks with an explicit green objective (e.g., differential interest rates based on project type), forward-looking bank behavior, and adjustment costs. Additionally, we demonstrate the relative impacts of regulatory and monetary persistent regime changes
“Bad rebounds” and the Environment: Bottled water and plastic collection behavior using cross-sectional Italian data
Get PDFThe multidimensional nature of environmental problems is increasingly recognized, as different relevant behaviors may be mutually reinforcing or in a trade-off relationship. This is particularly relevant when the use of resources is tightly linked to their packaging, as in the case of bottled water consumption.
This paper aims at using Italian data to assess whether plastic related separated collection and bottled water consumption are complements or substitutes in consumers’ behaviors. Using Cross-sectional Italian data, we provide evidence of a challenging “rebound” effect: individuals more engaged in recycling are also those producing more plastic waste related to bottled water consumption. This has important consequences for policy analysis, since the rebound effect appears to be related to the availability of waste infrastructures: better infrastructure, namely door to door collection, inflate the consumption of (plastic packaged) bottled water. We also provide robustness analysis for our results, specifically addressing the role of endogeneity issues
From Economic Stagnation to Structural Resilience: A Critical Assessment of Bangladesh’s Developmental Trajectory and Underlying Drivers
Get PDFThis paper presents a thorough investigation of the economic and social dynamics that have shaped Bangladesh's transition from a pre-independence stagnation and post-conflict economic fragility to its emergence as a resilient and increasingly prosperous South Asian nation. The country’s progression from a war-torn least-developed economy toward potential upper-middle-income status serves as a compelling example of developmental transformation. This analysis focuses on macroeconomic reforms, trade and investment policies, technological innovation in agriculture, and the stabilizing effect of remittance flows. From a socio-economic perspective, it evaluates demographic change, education, health outcomes, gender relations, and the implications of accelerated urbanization. The paper also critically examines enduring challenges—namely poverty, inequality, environmental risks, and governance shortfalls—while emphasizing the importance of technology-driven development. Through this comprehensive assessment, the study highlights the foundational policies that have driven Bangladesh’s economic ascent and offers strategic insights for ensuring its future sustainability
Advances in climate change education, challenges and policy insights
Get PDFClimate change education (CCE) is undergoing a critical transformation as global educators and policymakers recognize its role in equipping individuals and communities to respond to the climate crisis. This paper synthesizes recent scholarly developments in CCE, highlighting a shift toward participatory, interdisciplinary, and action-oriented pedagogies that foster critical thinking, adaptive capacity, and environmental agency. Drawing on research from the past five years, the paper explores the implementation of innovative teaching methods, integration across disciplines and professional training, and the growth of online and hybrid platforms. It further identifies persistent challenges such as curricular fragmentation, teacher preparedness, and equity in learner engagement, and examines evolving policy frameworks that support region-specific, justice-informed, and advocacy-focused educational strategies. Advancing CCE requires a systemic reorientation of educational policies and practices to focus on resilience, equity, and transformative action in both formal and informal learning settings
Artificial Intelligence, Task Automation and Macro-development: Modelling the productivity- welfare trade offs in the Nigeria Economy
Get PDFThis paper focuses on analyzing the implications of adopting generative artificial intelligence (AI) at the macroeconomic level in Nigeria through a task-based method of analysis informed by Acemoglu in 2018. In breaking the production process into individual tasks that are carried out either by labor or capital, the study then examines the impact of automation and task complementarities resulting due to AI, on productivity, gross domestic product (GDP), wages, and inequality due to a 10-year time frame. Based on the empirical estimates recorded by some related literatures regarding the effects of capital stock on the total factor productivity (TFP) of three economies, the paper is likely to improve by 0.51% to 0.66% depending on the growth of the capital stock; this translates to an increment in GDP of about 0.93 to 1.16 per cent. Every 10,000 when capital investment is higher by an upper scenario, GDP will increase by up to 1.56 percent. Nonetheless, the welfare issues arise due to the occurrence of bad jobs like misinformation and digital manipulation, which may have the potential to negate up to 0.072 percent gain in the GDP. Demographic and education-based impacts differ as the workers with low educational skills have a slight advantage, whereas those with high skills remain unaffected. Income share held by capital also will increase boosting inequality. The paper highlights the importance of focus on inclusive AI approaches, ethical governance and investments in digital infrastructure in Nigeria. Generative AI is promising in its economic development but will depend on the institutional decisions on its usage, their regulatory rules, and deliberate integration with national development plans
Hedonic Adaptation and the Persistence of Suffering: A Model-Based Approach to Theodicy
Get PDFHedonic adaptation—the tendency to return to a baseline level of well-being after changes in life circumstances—offers a new perspective on theodicy, the attempt to reconcile suffering with a benevolent, omnipotent, and omniscient God. Since perceived suffering tends to revert to baseline, reductions in actual suffering may provide only temporary relief. This paper develops a simplified theoretical model, drawing on economic methods, to analyze how perceived suffering evolves over time, whether adjusting adaptation speeds could reduce distress, and what this reveals about the normative limits of benevolent intervention. The model demonstrates a structural trade-off: while slower adaptation may extend relief, it can also intensify distress during hardship. These dynamics lend support to soul-making theodicies by showing how persistent suffering fosters resilience and moral growth, and they echo free will theodicies by portraying adaptation as a built-in human feature, shaped by evolutionary pressures. At the same time, it challenges interventionist theodicies by emphasizing that suffering may persist despite benevolent efforts. It thereby invites greater attention to the recurrence of suffering, not only its intensity, as a concern for theodical reflection