Miracle-dz/UniFAR-FTUs huggingface dataset:
Evaluating the effect of new working practices on office space usage in Hong Kong

Purpose Many organizations in Hong Kong have witnessed a reduction in average space usage due to high occupancy costs. New working practices (NWPs) are viewed as a reform tool to manage expensive real estate around the world. However, it is unclear whether NWPs influence office space usage in business organizations in Hong Kong. This study, therefore, aims to evaluate if the average space reduction in office firms is caused by the NWPs in the finance, insurance, real estate and business (FIREB) firms. Design/methodology/approach A total of 20 NWPs were initially derived from the extant literature. A questionnaire survey was conducted with listed FIREB firms in Hong Kong to assess the impact of the identified NWPs on space usage. The data collected from the questionnaire survey were analysed using descriptive, explorative factor analysis (EFA) and partial least squares-structural equation modelling (PLS-SEM) to evaluate the effects of NWPs on average space usage. Findings Results revealed that four major NWP factors influence average space usage. Three of these factors, namely, “flexible arrangement”, “multitasking knowledge workers” and “teamwork and communication”, influence space usage positively. Even though the effect of the fourth factor “training and networking” was significant, it does not reflect a positive influence on space usage. Business organizations can focus more on the implementation of NWPs to cushion the effects of the high cost of occupancy. Originality/value The research provides new knowledge to the limited literature on the effect of NWPs in FIREB firms and enriches the growing body of international literature on how today’s competitive global business organizations should revisit their workplace strategies to accommodate the rising agile workforce and NWPs. The findings offer new insights into the ongoing debate on the impact of information and communication technology-enabled NWPs on space usage. From the real estate perspective, the findings should inform policymaking towards the better planning ahead of office properties to accommodate NWPs, helping Hong Kong to remain competitive as a key financial centre.
Microfoundations of a monetary policy, Poole's rule

Abstract. The monetary policy framework of many countries has been developed under an Inflation Targeting Framework, which is a fixed central bank interest rate. The well-known Taylor's Rule is the rule of monetary policy applied in empirical evidence for the mode of transmission mechanisms of the Central Bank. Microfoundations in Log-linear terms are consistent in line with Kranz (2015), however countries such as: China, Nigeria, Bolivia, Yemen, Suriname, among others, are in a different framework, control of the money supply (the IMF defines as Monetary Objective Aggregate). The MacCallum's Rule proposed in the 1980s would be more appropriate to describe the transmission mechanisms of monetary policy in this type of policy. But in the present investigation it is based on a monetary policy rule different from the conventional ones. Thanks to the contribution of William Poole in 1970, our Policy Rule explains that the money supply reacts to the behavior of five (5) variables: product gap, interest rate gap, observed interest rate, product expectations and inflation; for what we call this instrument the Poole's Rule. Through a Dynamic Stochastic General Equilibrium Model (DSGE) we check if said rule is appropriate for economies under a different Inflation Targeting Framework. Keywords. Poole's Rule, Taylor's Rule, MacCallum's Rule, Dynamic Stochastic General Equilibrium Model (DSGE), Bayesian Estimation. JEL. E51, E60, E61.
Does China’s Pollution Levy Standards Reform Promote Green Growth?

Estimating the impact of environmental taxes on economic output is of great theoretical value for promoting green growth in China. Using a dataset of 232 cities from 2004 to 2014, this paper investigates the effect of pollution levy standards reform (PSR) on green total factor productivity (GTFP). We employ directional distance functions (DDF) computed by data envelopment analysis (DEA) to derive GTFP based on the Malmquist–Luenberger (ML) productivity index. Then, we investigate the impacts of PSR on China’s GTFP using Difference-in-Differences (DID) estimation. The results reveal that PSR has an inhibitory effect on GTFP, via the mechanism of technological change. Furthermore, PSR has heterogeneous impacts on different city types. The results indicate that PSR statistically significantly reduces GTFP in key environmental protection cities (KEPCs), large cities, and eastern cities, but that it has less impact on non-KEPCs, small/medium cities, megacities, and cities in central areas.
Regional Growth and Interregional Migration - Their Pattern of Interaction

The starting point for this study was recognition of considerable differences among previous studies of causes of regional growth and wage disparities in the United States. This paper describes a multi-equation model for empirical analysis of these differences and presents results achieved in applying the model to cross-sectional data measuring the performance of 56 large MSAs.
The Riksbank and International Interest Rate Dynamics

Based on the case of Sweden, this thesis studies the relationship between the nominal interest rate in a small open economy and the interest rates of the country’s trading partners. Cross-country interest rate differentials affect domestic economic conditions through two channels; the exchange rate channel and via capital flows. This means that interest rate differentials can have both expansionary and contractionary effects, depending on the circumstances. Contrary to common theoretical monetary policy frameworks, which model international aspects only through its effect on domestic conditions, there are good arguments that interest rate differentials affect a central bank’s considerations in a small open economy. This thesis presents empirical support suggesting a significant positive relationship between the Swedish Repo Rate and a trade-weighted foreign interest rate. The positive relationship is robust through different estimation techniques. Based on the empirical results, the thesis proposes a theoretical framework for modelling such a dependency structure using a DSGE model. The thesis concludes that international dynamics should be considered in macroeconomic models that analyze the interest rates of small open economies.
What do students earn after their tertiary education

This report looks at the group of nearly 30,000 young domestic students who last enrolled in a tertiary education institution in New Zealand in 2003, and examines the influence of their tertiary education on their one-year and three-year post-study earnings. The report examines: What are the earnings for those with different levels of tertiary study? What are the earnings for those from different fields of study? What is the difference in earnings between those who complete a qualification and those who don’t? How much difference is there between those students who pass all their courses but do not complete a qualification, those who pass some of their courses, and those who don’t complete anything? Are there benefits to passing courses without gaining qualifications? Does it matter which type of provider you study at? Does a university qualification result in more benefit than a qualification at the same level in the same field from a non-university provider?
Three essays on environment, economics and politics

This thesis consists of three essays that shed light on different aspects of the relationship between the environment, economic and politics. In the first chapter we consider the deployment of large hydropower dams in Vietnam, an effective infrastructure that converts water resources into clean and inexpensive electricity for the economy, and protects downstream people from floods. The cascade design is shown to make the system more resilient against adverse impacts of climate change. The second chapter estimates the impact of power outages in Vietnam on firm performance using an instrumental variable based on work in chapter 1 that captures the sensitivity of power reliability to weather-induced variability in river flow given that hydropower plays the key role in the economy. Progressive power policies are required as businesses, which become more dependent on electricity, are shown to be more vulnerable to power disruptions. The third chapter provides evidence that senatorial voting pattern for environmental issues in the US is responsive to natural disasters although the reactions tend to be slow, short-lived and not unidirectional. The preference for environmental stringency increases after human losses but falls after economic damages
Looking Forward to Cuts: A Simulation Decision Tool for Cutback Management

This study addresses managerial strategies to adapt public spending in anticipation of fiscal stress. It simulates a cutback to a federal agency, providing a decision tool that applies normative recommendations from the cutback management literature. Using agency data, we develop a menu of options that illustrate how different distributions of budget reductions affect organizational goals. We show five alternatives that consider the political, legal, and fiscal implications of the agency's responses to anticipated budgetary pressure. This simulation demonstrates that public agencies can apply existing data to generate rational and viable strategic plans for weathering fiscal stress.
The Relationship between Organizational Commitment and Organizational Citizenship Behaviors in the Public and Private Sectors

Organizational Citizenship Behaviors (OCBs) are activities which are voluntary, go beyond the formal obligations of employees, and significantly affect the efficiency of the entire organization. The literature has devoted a lot of attention to them since the beginning of the 1980s. Not only has the nature of OCBs been studied, but so too have their dimensions and antecedents. However, there is a fairly significant research gap in the area of employee manifestations of citizenship behaviors according to type of organization (private and public sectors). This article addresses the issue of organizational commitment as one of the antecedents of OCBs. The research objective is to identify and assess the level of correlation between individual dimensions of organizational commitment and Organizational Citizenship Behaviors in public and private organizations in Poland. A quantitative study conducted on a sample of 323 employees allowed the hypotheses to be verified. In general, there are similar frequencies of Organizational Citizenship Behaviors in the public and private sectors. In public institutions, however, OCBs in the interpersonal dimension are more frequent, while in private institutions they occur more commonly in the organizational dimension. Most positively correlated with OCBs is the affective dimension of organizational commitment.
Earnings management and instances of material weaknesses reported under Sections 302 and 404

ABSTRACT Sections 302 and 404 of the 2002 Sarbanes-Oxley Act require firms to disclose material weaknesses (MWs) in internal controls. We investigate the association of single and multiple instances of MWs with earnings management. Multiple instances are positively associated with earnings management for Section 302 and 404 firms, whereas single instances have no such association for either firm type. Thus, MWs that are not remediated within one quarter or year tend to be positively associated with earnings management and, in particular, with income-decreasing earnings management. Multiple instances of MWs for such firms can therefore provide critical information for auditors and investors.
Mapping careers provision in schools and colleges in England

CooperGibson Research was commissioned by the Department for Education (DfE) to map careers provision in schools and colleges in England. The aim was to explore across a range of providers, the array of careers provision available, use and value of the provision and nature of delivery. A survey was undertaken across England during February and March 2015, to which 107 members of school and college staff who had some responsibility for careers provision responded. Most respondents reported that careers guidance was the main part of their job (45 per cent) or they do it as part of their leadership responsibilities (39 per cent). The sample was made up of 34 schools with sixth forms, 34 schools without sixth forms and 39 further education providers, across all nine regions in England.
Forecasting of rice self-sufficiency in the Benin Republic using ARIMA model

Rice is one of the staple foods in the Benin Republic. Annual rice consumption is increasing faster than annual rice production. That is why Benin is not yet self-sufficient in rice production. To meet the local demand, huge quantities of rice are imported. For country planning, forecasting is the main tool for predicting rice variables. This paper describes an empirical study that used a time series modeling approach (Box-Jenkins’ ARIMA model) to forecast rice production, rice consumption, rice importation, rice exportation and finally rice self-sufficiency in Benin. Based on ARIMA model, the rice self-sufficiency rate in Benin is forecasted to be 44%, 52%, 56%, 53% and 60% respectively in 2019, 2020, 2021, 2022 and 2023. The forecasts would be helpful for the policy makers to foresee ahead of time the future requirements of rice production, adopt appropriate measures to develop rice sector for effective rice self-sufficiency and to reduce rice importation.
Costs of Monetary Policy Uncertainty

I study the flow of macroeconomic information to the corporate bond market and its impact on transaction prices across FOMC cycles. I estimate a regime switching model and find that bond returns are linked to two distinct regimes. The states coincide with monetary policy news releases. I link returns with liquidity through a study of more than 60 million trades which demonstrates that there is a large gap in effective spreads (difference in bid and ask transaction prices) between the two regimes. The most significant effect is exhibited by retail size transactions. I attribute this difference to considerable uncertainty ahead of macro announcements during the cycles, which in turn leads to changes in risk aversion and inventory capacity of financial intermediaries.
Evaluating the Economic Viability of Public Investments in Tourism

Abstract Various methods have been applied to evaluating the economic viability of public investments in tourism. In this article, we capitalize on the strengths of computable general equilibrium and cost-benefit analytical techniques and develop an integrated approach to evaluating public investments in tourism. We apply the approach to the evaluation of a US$6.25 million investment in tourism in Uruguay from the perspective of a multilateral development bank and a beneficiary government. These perspectives differ in a cost-benefit analysis (CBA) due to the timing of the costs incurred. The integrated approach is powerful in that it captures first and subsequent rounds of investment impacts of benefits and costs; resource diversion and constraints are accounted for, and the estimation of benefits is consistent with the welfare economics underpinnings of CBA.
Bitcoin Futures and Option Markets: Searching for Completeness

Cryptocurrencies have emerged in the last decade as a new asset class unlikely to disappear despite its extraordinary volatility. Futures contracts on Bitcoins were introduced in December 2017 by the Chicago Mercantile Exchange and options are being traded on crypto exchanges. Our goal in this paper is threefold: i) present the main features of cryptocurrency spot and derivative markets; ii) argue that storability of Bitcoins implies the existence of a convenience yield and infer from traded Future prices the risk neutral drift of the Bitcoin price in the continuous time Black-Scholes setting quite appropriate to continuously traded bitcoins. We use the prices of options traded on the Deribit Exchange to build the volatility smiles and skews observed at different dates of 2019 for short and long dated maturities and compare them to forward curves. Lastly, the robustness of the Black-Scholes formula allows capturing in our approach the stochastic volatility displayed by price trajectories and provides some answers to the incompleteness of the bitcoin market.
The division of innovative labour: when does customer codevelopment contribute to firm innovation performance?

ABSTRACT Innovative firms often involve customers in their product development to drive innovation outcomes. However, few have empirically examined how this division of innovative labour affects innovation performance. Drawing on prior studies and the knowledge-based theory of the firm, we theorise conditions under which customer codevelopment benefits innovation performance. By examining panel data from Swiss firms, we provide the first empirical account of the performance effects of customer codevelopment based on a large-scale survey sample. We find that a firm's absorptive capacity reinforces the relationship between customer codevelopment and innovation performance. We elaborate on the implications of these findings for the literatures on customer codevelopment and open innovation.
The Inflexible Structure of Global Supply Chains

The rise of global supply chains has had profound effects on individual economies and the global trading system, thereby complicating standard macroeconomic analyses. For many of the new and challenging questions brought about by this phenomenon, such as its impact on the global business cycle and measurements of competitiveness, the answer largely depends on one specific aspect of global value chains: how easily they can re-configure in response to changes in prices. We propose a parsimonious, generalized specification to test the degree of global-supply-chain flexibility. Our estimates show that, in the short run, the production structure is highly inflexible, and that this rigidity has, if anything, risen over time as supply chains have deepened over time. This finding is robust to alternative price measures, including those that account for the U.S. dollar’s outsized role in trade through invoicing. While in the long run all estimated elasticities rise, supply chains remain somewhat inflexible. Our results have implications for analyses of cross-country business-cycle dynamics, the propagation of sectoral shocks, and the measurement of international competitiveness.
İNSANİ GELİŞMİŞLİK VE BÜYÜME ARASINDAKİ İLİŞKİ: OIC ÜLKELERİ ÜZERİNDE BİR ANALİZ

The United Nations Development Program (UNDP) annually presents the annual Human Development Report through which development level for the countries can be measured. There is an imminent relationship between Human Development and Economic Growth at several society levels. Due to the lack of long-term empirical investigation of the such significant relationship: this paper aims to study the relationship between Economic Growth and Human Development. In the current paper, the relationship between Human Development Index (HDI) and Economic Growth were analyzed using panel data of OIC countries between 2005-2017. The study analyzed 54 OIC member countries, and Syria, Turkmenistan and Somalia were excluded from analysis due to the lack of relevant data. Results of the paper shows that there is a significant relationship between Economic Growth and Human Development in OIC countries.
Managing Nomadic Education for National Cohesion and Global Competitiveness in Nigeria

The establishment of the Nigerian National Commission for Nomadic Education in 1989 created wider opportunities for an estimated 9.3 million nomads living in Nigeria to acquire basic literacy skills. This commission was established to address low literacy rates among pastoral nomads and migrant fishermen, which put literacy rates at 0.28 percent and 20 percent respectively. To improve the literacy rate among Nigeria’s nomadic populations, the National Commission for Nomadic Education employed various approaches such as onsite schools, ‘shift system’ schools with alternative intake, and Islamiyya (Islamic) schools, to provide literacy education to its nomads. A critical appraisal of these approaches by the commission, however, shows that very few of the schools were actually viable. This paper examines, Managing Nomadic Education for National Cohesion and Global Competitiveness in Nigeria. The conclusion here is that, government can use nomadic education as a tool for national unity, economic and social development. This Paper therefore, suggests that, the culture of the true morality at the implementation level of nomadic education should be emphasized as against the current practice of craze for paper qualification, Citizenship education should form part of the school curriculum at all levels of education. The emphasis should be on promotion of nationality and heightening of empathy , and finally, universities should be adequately funded by giving top priority in the budget (at least a minimum of 30%) should be allocated to education.
Does energy efficiency affect economic growth? Evidence from aggregate and disaggregate levels

This paper empirically examines the relationship between energy efficiency, CO2 emissions, foreign direct investment, exports, and real gross domestic product at both aggregate and disaggregate levels in Malaysia based on an autoregressive distributed lag approach. The annual data for the period of 1971–2013 are employed. The results indicate that energy efficiency Granger causes economic growth at the aggregate level, but not in each of the three main sectors (primary, secondary, and tertiary) of the economy. Another important finding of the study is that the export-led growth hypothesis is found to be valid in Malaysia at both the aggregate and disaggregate levels. The results of our study also confirm the fact that CO2 emissions do affect the overall economic performance and growth in all sectors, except for the primary sector. This finding implies that pollution from both secondary and tertiary sectors has led to economic growth in Malaysia. Moreover, it is also discovered that foreign direct investment does not have a significant impact on economic growth in Malaysia. The results of this study are essential for policymakers of Malaysia in designing appropriate policies in each sector that can lead to robust growth in the country. In addition to focusing on enhancing energy efficiency and promoting foreign direct investment, the policymakers should also start to look for alternative strategies to ensure long-term economic growth in the country.