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How to compare basic CO2e emissions in vertical farming and open-field farming
Get PDFThis paper compares the carbon dioxide equivalent emissions (kgCO2e) produced per kilogram (kg) of lettuce grown using vertical farming versus open-field farming. It demonstrates how the carbon intensity of energy consumption (kgCO2e/kWh) and transportation (kgCO2e/km) affects the carbon intensity of the product (kgCO2e/kg)
Trade negotiations and global relations : emerging players and actors
Get PDFThe executive order signed by President Donald J Trump on the 6th March 2025, which establishes a U.S crypto currency reserve, “creates a Strategic Bitcoin Reserve that will treat bitcoin as a reserve asset.”
Whilst there are enthusiasts in favor of the recent move, there are also concerns about how it will be implemented – as well as implications for taxpayers in the event of a collapse in prices. Concerns are consolidated further, primarily because there are several Bills still being considered in Congress – compounded with recent developments and turbulence in the crypto assets sector. Further concerns, primarily relate to governmental and political interference with the central bank’s role in monetary policy setting and, regulatory uncertainties.
The financial markets appeared to have weathered recent storms which dominated the financial landscapes in 2019 – namely trade wars, which spanned from retaliatory tariffs to currency devaluations – as well as impending imposition of digital sales taxes which even threatened to escalate retaliatory tariff wars even further. Reductions in interest and federal funds rates – unprecedented and surprising moves by the Federal Reserve, as first instigated in August 2019 to address anticipated global uncertainties – the first federal rate cuts since 2008, had left investors in a divided state of opinions. Partly because the rate adjustments had been considered unjustified.
However as 2020 revealed and demonstrated, the financial markets are yet to experience greater levels of uncertainty and volatility in the light of repercussions of the corona virus (COVID-19) outbreak - as it increasingly becomes evident that the real impact remains unknown. A clearer picture of the real costs and possible impending consequences of the outbreak (as well as failures to disclose real figures of underlying cases) will continue to be revealed through repercussions impacting the economy - including closures of small businesses, and particularly the health and medical sector.
Hence the impending challenges become even clearer. Not only is this a global problem – but also an issue of how respective regions and countries will be able to address and contain the risks emanating from contagion – as well as the availability of resources and facilities to address particularly, crypto currency and financial risks.
Amongst other objectives, this publication considers, as well as highlights, why the central bank’s independence is pivotal to its functions. Whilst close collaboration with the executive, and the legislature, are also essential to its functioning, the publication also highlights the immense contributions that can be derived from crypto currencies and stable coins – when adequately regulated
Valutare l’azione della Regione Lazio in una prospettiva di sviluppo sostenibile
Get PDFThe new United Nations Agenda for Sustainable Development signed in 2015 for the achievement of the Sustainable Development Goals to be achieved by 2030 introduces a new conceptual approach relating to the four types of interconnected capital - human, social, environmental and economic. All levels of government are involved in contributing to development along a path of sustainability. This paper aims to provide a new methodological approach to ex-ante evaluation of the sustainability of the regional policy of Lazio with the analysis of the potential effects of the actions through the controlled semantic clustering of the 335 political-programmatic actions of the Lazio Region contained in the Strategic Programming Document (DSP) 2023, the quantification of these effects through a synthetic index developed over the five-year period 2018-2022 and the identification of policy indications
An Elementary Approach to GPIF Investment Allocation Optimization: A Basic Risk-Return Evaluation Perspective
Get PDFThis report examines a portfolio optimization methodology based on the investment allocation approach adopted by the Government Pension Investment Fund (GPIF). Employing quadratic programming, we derive optimal investment allocations for Japan, developed countries (excluding Japan), and emerging markets by incorporating market growth rates and variances. The analysis offers valuable insights into enhancing portfolio performance through a balanced approach to expected returns and risk management
Transition énergétique, durabilité et réduction des émissions en Tunisie : une analyse empirique par le modèle ardl
Get PDFRésumé : La transition énergétique est un enjeu stratégique pour la Tunisie, confrontée à une forte dépendance aux énergies fossiles et à la nécessité de réduire ses émissions de gaz à effet de serre (GES). Cette étude analyse l’impact des politiques énergétiques sur les émissions de CO₂ et la durabilité économique à l’aide d’un modèle ARDL.
Les résultats révèlent qu’à court terme, la croissance économique augmente les émissions de CO₂, traduisant une forte dépendance aux combustibles fossiles. À long terme, une hausse de la consommation d’énergies renouvelables réduit significativement ces émissions, tandis que la consommation énergétique globale reste le principal facteur d’augmentation des GES.
Ces observations soulignent l’urgence d’accélérer la diversification du mix énergétique, d’investir dans des infrastructures durables et de mettre en place des réformes institutionnelles pour une transition énergétique efficace et durable.
Abstract : The energy transition constitutes a strategic issue for Tunisia, which faces a considerable reliance on fossil fuels and the necessity to reduce its greenhouse gas (GHG) emissions. This study utilises an Autoregressive Distributed Lag (ARDL) model to analyse the impact of energy policies on CO₂ emissions and economic sustainability.
The findings indicate that in the short term, economic growth is associated with an increase in CO₂ emissions, reflecting a significant reliance on fossil fuels. However, in the long term, an increase in the consumption of renewable energy has been shown to have a significant effect in reducing CO2 emissions, although overall energy consumption remains the main driver of GHG emissions.
These observations underscore the pressing need for the urgent acceleration of the diversification of the energy mix, the investment in sustainable infrastructure, and the implementation of institutional reforms for an efficient and sustainable energy transition
Adaptations d’une matrice de maturité des soins intégrés pour des prestataires de soins et des cantons suisses
Get PDFContext
The performance of integrated care systems lacks evidence, partly due to the difficulty in conducting robust studies. This generates uncertainty among both providers and decision-makers. However, an evaluation tool has been developed under the auspices of the European Commission. It is a maturity matrix called “Scaling Integrated Care in Context” (SCIROCCO), developed from a macro perspective.
Objective
The project aimed to adapt SCIROCCO for healthcare providers, specifically the three health poles in Vaud, on one hand, and for the Canton of Vaud, on the other hand, requiring the adoption of two distinct meso-level perspectives.
Method
Seven researchers worked on structuring and rewriting each element of SCIROCCO in successive individual and collective phases, seeking consensus. This work was then reviewed by five professionals before being disseminated to users.
Results
Two maturity matrices were created: one for the health poles (SCIROCCO-POLE) and one for the canton (SCIROCCO-CANTON), retaining the original dimensions but contextualizing them differently. The response scale still has six levels, but it was standardized to remain consistent regardless of the health organization or evaluated dimension.
Conclusion
Adapting SCIROCCO to other healthcare organizations appears feasible, although it requires substantial effort. Nevertheless, it provides a pragmatic diagnostic and management response for stakeholders. Further work is desirable to enhance the tool and incorporate an additional dimension—the collaboration between actors
Deterministic Political Competition and Regional Economic Outcomes When the Creative Class Sets Tax Policy
Get PDFWe analyze how deterministic political competition between the elites and the so-called creative class shapes economic outcomes in a stylized region. By deterministic, we mean a case where political power has shifted from the elites to the creative class with probability one. There are three groups in our region: workers, creative class members, and the elites. Unlike previous studies, tax policy in our region is set not by the elites but instead by the creative class. In this setting, we first present a counterintuitive result in which the creative class prefers to tax itself, and not the elites or the workers, with the tax proceeds being redistributed also to itself via lump-sum transfers. Second, we explain why this counterintuitive result makes sense. Finally, we discuss whether the above counterintuitive result will hold if the proceeds of taxation are redistributed using lump-sum transfers to all the groups in our region and not just to the creative class
Algorithm Impact on Fertility and R&D Sector
Get PDFThis study investigates how Artificial Intelligence (AI) affects fertility decisions, economic
growth, and overall social welfare. Despite substantial technological progress and
increases in economic output (GDP), advanced economies, notably Japan, face severe demographic
challenges due to dramatically declining fertility rates. This phenomenon raises
important questions regarding the traditional measures of economic prosperity, prompting
a re-evaluation of GDP as a reliable indicator of social welfare.
To address these issues, this article develops a dynamic economic growth model incorporating
heterogeneous human capital (skilled and unskilled labor) and introduces AI as a
new, distinct form of capital investment. Unlike traditional physical capital, AI capital features
negligible depreciation rates, significantly altering investment decisions, and long-term
growth dynamics. On the demand side, households optimize their utility by allocating their
limited time between labor supply, leisure, and child-rearing activities, directly influencing
fertility rates and human capital accumulation.
This paper argues that AI-driven algorithms fundamentally improve market efficiency by
precisely matching heterogeneous consumer preferences and supplier characteristics, leading
to optimal resource allocation. Unlike the traditional ”law of one price,” algorithm-driven
markets generate multiple equilibrium prices, varying according to individual preferences
and attributes, characterized herein as a shift toward a ”law of multiple prices.”
The analysis suggests critical policy implications, emphasizing the need for refined economic
and educational policies that address the implications of AI-driven market dynamics
on fertility choices and income distribution. In particular, policy interventions must strategically
promote educational reforms that diversify and enrich human capital, aligning it
more closely with the demands of AI-intensive industries. This model provides a theoretical
framework for understanding the intricate interplay between AI, demographic shifts,
economic inequality, and long-term growth trajectories
Determinants of Financial Inclusion in Nigeria: The Monetary Policy and Banking Sector Factors
Get PDFThis study investigates the determinants of financial inclusion in Nigeria. The study extends the empirical debate on the determinants of financial inclusion by focusing on the monetary policy and banking sector factors that influence the level of financial inclusion in Nigeria. The study employs the two-stage least squares regression method to estimate the determinants of financial inclusion in Nigeria during the 2007–2021 period. The results show that the central bank monetary policy rate, the savings deposit rate, and the loan to deposit ratio of banks are significant determinants of financial inclusion in Nigeria. Specifically, increase in the central bank interest rate decreases the level of financial inclusion, increase in the savings deposit rate increases the level of financial inclusion, and increase in the loan-to-deposit ratio decreases the level of financial inclusion. These determinants are robust to alternative estimation using the quantile regression method. There is further evidence that the interbank lending rate, inflation rate and the nominal interest rate are also determinants of financial inclusion in Nigeria based on the two-stage least squares estimation
Quantile Analysis of Oil Price Shocks and Stock Market Performance: A European Perspective
Get PDFThis study investigates the interplay between oil price variations and stock market performance in Europe over the period 1991–2023. By analysing Europe as a cohesive economic entity, the research provides a unified view of how trends in energy markets and broader macroeconomic factors affect equity outcomes. The methodology combines ordinary least squares and quantile regression to robustly capture average impacts and variations across different segments of stock returns. Findings reveal that rising oil prices typically exert downward pressure on European equities by increasing production costs in petroleum-reliant industries. However, abrupt oil price shifts have nuanced effects: some segments exhibit heightened sensitivity, while others remain resilient, suggesting that adaptive industries may fare better than energy-intensive ones. Additionally, strong economic growth often intensifies fears of inflation, interest rate hikes, and market overheating, creating a negative association with stock performance. Inflation challenges equities, with higher-performing stocks especially vulnerable to price increases. The shift toward renewable energy appears to have short-term adverse effects, largely due to capital redistribution and transitional hurdles affecting traditional energy sectors. These results offer guidance for stakeholders. It underscores the need to align energy strategies with equity markets. Policymakers can enhance market resilience by addressing oil price volatility through transparency and risk mitigation, and by clearly communicating monetary policies to reduce inflation-induced uncertainty. While accelerating renewable adoption is vital for sustainability, careful management is needed to minimize disruptions to established sectors. Firms should hedge against energy price risks and invest in cleaner technologies to remain competitive in a changing landscape