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The True Wealth of Greece: An Inclusive Wealth assessment from 1990 to 2020 within the EU Sustainability Agenda
Get PDFThe present report assesses the Greek inclusive wealth over 1990–2020 using the Inclusive Wealth Index (IWI), decomposing human, produced, and natural capital and benchmarking against the EU-28. The results show that the produced capital expanded markedly but plateaued after the financial crisis of 2008. Furthermore, the human capital per capita remains ~46% below the EU average, reflecting gaps in education, ICT and managerial skills, labour productivity, and the effects of brain drain and regional disparities. Essentially, the natural capital has been pressured by biodiversity loss, deforestation, marine pollution, and limited circular-economy uptake. Overall, these dynamics place Greece in the lower-middle tier of EU countries for inclusive wealth, therefore, the report outlines priorities to close the gap. The proposed policies target, one the one hand on human capital, by strengthening tertiary and vocational pathways, fostering innovation and university and industry linkages, expanding female employment, enhancing ICT skills, and rebuilding institutional trust. On the other hand on natural capital, through strategies on sustainable forest and land management, marine ecosystem protection, circular-economy incentives, and recognition of socio-cultural ecosystem services to support conservation and eco-tourism. To conclude, the improvement of human and natural capitals is pivotal for long-term wellbeing, intergenerational equity, and alignment with the EU sustainability agenda
An Artificial Neural Network Experiment on the Prediction of the Unemployment Rate
Get PDFUnemployment is one of the most important macroeconomic indicators for evaluating economic performance and social well-being. Forecasting unemployment is crucial for policymakers, yet traditional econometric models often fail to capture nonlinear and dynamic patterns. This paper presents an experiment applying artificial neural networks (ANNs) to predict the unemployment rate using macroeconomic data. Results show that ANNs outperform traditional ARIMA models, particularly during stable economic conditions. Implications for policy, limitations, and future research are discussed
Globalization and life satisfaction- evidence from Europe and Central Asia
Get PDFThe aim of this study is to explore the relationship between globalization and life satisfaction in Europe and Central Asia over the period of 2005 to 2018. Using the KOF index of globalization, we documented the non-linear (U-shaped) relationship between globalization and subjective wellbeing. Once we account for endogeneity and simultaneity with the aid of a two-step GMM estimator, the turning point is 66 points, which is approximate to the levels of globalization in Albania in 2018. We also report that the sub-dimension of globalization (political, economic and social) are also non-linearly related to life satisfaction. The results are robust to a number of tests
DO ESTADO DE DIREITO AO ESTADO CONSTITUCIONAL
Get PDFO presente trabalho é de natureza documental, e tem como propósito apresentar direitos fundamentais. E, neste contexto é necessário apresentar a transição do Estado de Direito ao Estado Constitucional, proposta por Jorge Reis Novais1, que examina essa passagem encontrando correspondência na supremacia dos direitos fundamentais ao serem detentores de posição privilegiada e hierarquicamente superiores na Constituição. E neste sentido, dedicou-se a responder à ideia dos direitos fundamentais como trunfos ao remeter para a possível tensão ou oposição entre os direitos fundamentais e o poder democrático, entre o Estado de Direito e a democracia, pois os poderes constituídos não podem dispor livremente dos direitos fundamentais, ao estarem vinculados a esses. A ideia de direitos fundamentais como trunfos é uma exigência do reconhecimento da força normativa da Constituição, da necessidade de levar a Constituição a sério
ENTRE LIKES E FAKE NEWS: A LIBERDADE DE EXPRESSÃO EM TEMPOS DE DESINFORMAÇÃO
Get PDFA liberdade de expressão constitui um dos fundamentos da democracia, mas enfrenta desafios inéditos na era digital. A disseminação de desinformação, a manipulação algorítmica e a concentração de poder nas plataformas digitais comprometem a integridade do espaço público e a confiança nas instituições democráticas. O problema central investigado refere-se ao equilíbrio entre a preservação da liberdade de expressão e a necessidade de combater as fake news, sem violar direitos fundamentais. A pesquisa adota uma abordagem qualitativa, com base em revisão bibliográfica de fontes físicas e digitais, privilegiando análises críticas interdisciplinares sobre direito, comunicação e ciência política. A investigação revelou que o combate à desinformação exige estratégias múltiplas, incluindo regulação responsável das plataformas, promoção da alfabetização digital, educação midiática e incentivo à transparência corporativa. Constatou-se que a regulação deve ser dinâmica, combinando instrumentos estatais, formas de autorregulação e co-regulação, a fim de se adaptar à evolução das práticas de disseminação da desinformação. Conclui-se que soluções isoladas são insuficientes, sendo imprescindível uma abordagem colaborativa entre governos, sociedade civil, empresas e academia para garantir um ambiente digital democrático, plural e seguro
Inflationary and Deflationary Pressures: A Directional Decomposition of U.S. Inflation Dynamics
Get PDFThis paper develops a pressure decomposition of inflation as the net outcome of two competing forces: inflationary pressure, defined by the frequency and magnitude of price increases, and deflationary pressure, determined by corresponding price decreases. Using 245 PCE sub-indices spanning 1959-2024, we construct an exact bottom-up inflation measure that transparently maps sectoral pricing decisions into macroeconomic aggregates. Our decomposition reveals fundamental asymmetries in inflation formation: inflationary pressure exhibits dramatic variation (2.35%-12.68%) while deflationary pressure remains remarkably stable (0.72%-5.18%), indicating inflation episodes are primarily driven by surges in upward pricing momentum rather than retreats of downward movements. Historical analysis shows distinct pressure regimes across major macroeconomic episodes: the Great Inflation featured extreme inflationary pressure volatility, the Great Moderation achieved balanced dynamics, the 2008-2009 crisis uniquely witnessed deflationary pressure dominance creating deflation risk, while COVID-19 saw dramatic inflationary pressure resurgence. We reassess the price puzzle using Bayesian local projections with alternative monetary policy shock identifications. Conventional narrative shocks generate sustained inflationary pressure increases with minimal deflationary response, while informationally robust shocks resolve the puzzle completely through both increased deflationary pressure and reduced inflationary pressure, with the deflationary channel providing the dominant contribution consistent with demand-channel transmission. Extensive robustness checks across specifications and estimation methods confirm these findings while revealing the diagnostic value of pressure decomposition for evaluating shock quality. Results demonstrate that the price puzzle reflects informational frictions rather than genuine economic phenomena, and suggest successful monetary policy operates through managing pressure balance with important implications for real-time policy diagnosis and central bank communication
Shades of inflation targeting: insights from fractional integration
Get PDFIn this paper, we propose a novel approach to classifying inflation-targeting (IT) economies based on fractionally integrated processes. Motivated by the rising prevalence and diversity of IT strategies, we leverage variation in the persistence of inflation rate series to identify four de facto IT strategies, or ‘shades’ of IT. Moving from negative orders of fractional integration, indicating anti-persistent behaviour, to more persistent long-memory processes, often associated with less credible policy frameworks, we classify countries into average IT, strict IT, flexible IT, and uncommitted IT categories. This framework sheds light on the differences between declarative and actual monetary policy strategies across 36 advanced and emerging market economies. Notably, we demonstrate that while most economies fall into the flexible IT category, extreme cases, including the uncommitted IT category, occur with marked frequency. Furthermore, we link our IT classification to institutional features of national monetary frameworks using ordinal probit models. The results suggest that differences across IT categories are related to variations in the maturity and stability of IT frameworks, with less pronounced connections to central bank independence and transparency
A two-sector model of optimal growth in which labour is employed only in the industry of consumption goods: A complete characterization of equilibrium paths
Get PDFIn this paper, I develop a frictionless two-sector optimal growth model with endogenous labour supply in which the non-reproducible factor can be employed only in the production of consumption goods. From a theoretical point of view, I show that in this setting the optimal allocation of labour is constant over time, whereas its actual utilization relies on the availability of a convex technology. In parallel, a convex technology in the sector of investment goods is instead sufficient for the determinacy of meaningful equilibrium paths. Furthermore, calibrating the model to the US economy, I show that such a two-sector economy smooths the complementarity between the marginal propensities to consume and to save, and it also able to replicate the countercyclical (procyclical) pattern of the relative price of capital goods (real wages)
Effet Causal des Paiements Mobiles sur la Bancarisation au Cameroun
Get PDFThe purpose of this project is to analyze the impact of mobile payments on financial inclusion in Cameroon using quasi-experimental impact evaluation methods. The results show that the use of mobile payments does increase the propensity of economic agents to hold accounts in formal financial institutions such as banks
Tourism and Labor Markets in Transition: Sustainability, Equity, and Workforce Resilience in the Post-Pandemic Era
Get PDFTourism is one of the world’s most labour-intensive sectors, generating employment across hospitality, transport, retail, and cultural industries. Yet, despite its contributions to economic growth, tourism employment is often characterized by precarity, informality, and vulnerability to external shocks. This literature review synthesizes recent scholarship (2023–2025) on the relationship between tourism and labour markets, with particular attention to the disruptions and transformations triggered by the COVID-19 pandemic. The review identifies three central themes: the quantity versus quality of jobs, the growing emphasis on sustainability and skills development, and persistent challenges of equity and inclusivity. Empirical studies from Europe, Asia, and beyond demonstrate that while tourism can stimulate local labour markets and generate spillover effects, employment outcomes are highly contingent upon regulatory frameworks, institutional strength, and regional economic structures. The discussion highlights tensions between flexibility and security in tourism employment, the underrepresentation of worker experiences, and the uneven geographical focus of current research. Identified gaps include the need for longitudinal and mixed-method studies, intersectional analyses of inclusivity, and investigations into the role of technology in reshaping the workforce. The paper concludes that tourism remains both a promise and a paradox for labour markets: it creates employment opportunities but also reproduces inequalities and vulnerabilities. Future research and policy must therefore focus on integrating tourism into broader labour market strategies, ensuring sustainable, inclusive, and resilient employment in the 21st century