Exposure to Conflict, Migrations and Long-run Education and Income Inequality: Evidence from Bosnia and Herzegovina
Adnan Efendic, Dejan Kovač, Jacob N. Shapiro
Defence and Peace Economics,
Nr. 8,
2023
Abstract
We investigate the long-term relationship between conflict-related migration and individual socioeconomic inequality. Looking at the post-conflict environment of Bosnia and Herzegovina (BiH), a former Yugoslav state most heavily impacted by the wars of the early 1990s, the paper focuses on differences in educational performance and income between four groups: migrants, internally displaced persons, former external migrants, and those who did not move. The analysis leverages a municipality-representative survey (n ≈ 6,000) that captured self-reported education and income outcomes as well as migration histories. We find that individuals with greater exposure to conflict had systematically worse educational performance and lower earnings two decades after the war. Former external migrants now living in BiH have better educational and economic outcomes than those who did not migrate, but these advantages are smaller for external migrants who were forced to move. We recommend that policies intended to address migration-related discrepancies should be targeted on the basis of individual and family experiences caused by conflict.
Artikel Lesen
Political Ties and the Yield Curve
Gene Ambrocio, Iftekhar Hasan
Economics Letters,
July
2023
Abstract
We examine the effect of political ties with the US on sovereign yields and ratings at various horizons. We find beneficial effects across both short- and long-term yields and ratings. Specifically, we find that stronger political ties with the US affect mainly the level of the yield curve of foreign sovereign bonds. These results imply that the market perceives political ties with the US as having both near- and long-term beneficial consequences.
Artikel Lesen
What Makes the Difference? Microfinance Versus Commercial Banks
Afsheen Abrar, Iftekhar Hasan, Rezaul Kabir
Borsa Istanbul Review,
Nr. 4,
2023
Abstract
We make a comparison of microfinance banks (MBs) and commercial banks (CBs) in terms of efficiency, business orientation, stability, and asset quality by analyzing a large sample of banks from 60 countries around the world. Our findings indicate that microfinance banks have higher intermediation, non-interest income, wholesale funding and liquidity, but lower efficiency and asset quality. These significant variations are influenced by smaller microfinance banks and are driven mostly to African and Latin American microfinance banks.
Artikel Lesen
AIECE General Report, Part 2, Spring 2023
Andrej Drygalla, Axel Lindner, Birgit Schultz
IWH Studies,
Nr. 4,
2023
Abstract
The Halle Institute for Economic Research (IWH) is a member of AIECE (Association d'Instituts Europeens de Conjoncture Economique/Association of European Conjuncture Institutes), an association of independent European institutes involved in surveying economic conditions and developments, and in short-term macroeconomic forecasting. The main objective of the Association is to stimulate the exchanges between its members with a view to improve their insight into international economic developments. This ranges from the exchange of statistical or institutional information to discussions on economic policy Guidelines to common research activities. The AIECE organises between its members an exchange of view, of information and of literature on international economic developments, in particular in Europe. The Association provides the framework for joint activities of its members in areas of common interest. Its structure allows its members to develop common views on the future cyclical development. In order to meet these objectives the Association has half-yearly plenary meetings, centred around a general report on the European conjuncture prepared in turn by one of the members in cooperation with the other member institutes, but also with discussions of the working group reports and of special surveys prepared by member institutes. In Spring 2023, the report was written by the Halle Institute for Economic Research (IWH).
Artikel Lesen
AIECE General Report, Part 1, Spring 2023
Andrej Drygalla, Axel Lindner, Birgit Schultz
IWH Studies,
Nr. 3,
2023
Abstract
The Halle Institute for Economic Research (IWH) is a member of AIECE (Association d'Instituts Europeens de Conjoncture Economique/Association of European Conjuncture Institutes), an association of independent European institutes involved in surveying economic conditions and developments, and in short-term macroeconomic forecasting. The main objective of the Association is to stimulate the exchanges between its members with a view to improve their insight into international economic developments. This ranges from the exchange of statistical or institutional information to discussions on economic policy Guidelines to common research activities. The AIECE organises between its members an exchange of view, of information and of literature on international economic developments, in particular in Europe. The Association provides the framework for joint activities of its members in areas of common interest. Its structure allows its members to develop common views on the future cyclical development. In order to meet these objectives the Association has half-yearly plenary meetings, centred around a general report on the European conjuncture prepared in turn by one of the members in cooperation with the other member institutes, but also with discussions of the working group reports and of special surveys prepared by member institutes. In Spring 2023, the report was written by the Halle Institute for Economic Research (IWH).
Artikel Lesen
Cross-country Evidence on the Allocation of COVID-19 Government Subsidies and Consequences for Productivity
Tommaso Bighelli, Tibor Lalinsky, Juuso Vanhala
Journal of the Japanese and International Economies,
June
2023
Abstract
We study the consequences of the Covid-19 pandemic and related policy support on productivity. We employ an extensive micro-distributed exercise to access otherwise unavailable individual data on firm performance and government subsidies. Our cross-country evidence for five EU countries shows that the pandemic led to a significant short-term decline in aggregate productivity and the direct support to firms had only a limited positive effect on productivity developments. A thorough comparative analysis of the distribution of employment and overall direct subsidies, considering separately also relative firm-level size of support and the probability of being supported, reveals ambiguous cross-country results related to the firm-level productivity and points to the decisive role of other firm characteristics.
Artikel Lesen
Hollywood, Wall Street, and Mistrusting Individual Investors
Guido Lenz, Maximilian Mayer
Journal of Economic Behavior and Organization,
June
2023
Abstract
Individual investors reduce their trading activity in financial markets after the release of negatively biased Hollywood movies related to financial markets. These movies regularly depict financial markets and professionals active in them as marked by greed and corruption (Lichter et al. 1997). This decline in trading activity at the extensive margin comes together with depressed investor sentiment marked by higher likelihoods and volumes of selling than of buying transactions by those investors still active. Their avoidance of investing in and tendency to trade out of stocks related to companies in the financial industry, as well as their shift from actively managed mutual funds to passive vehicles (ETFs), provide evidence for the deterioration of investors’ trust in the financial industry and its managers. This channel is in line with existing literature on subjective beliefs in investment decisions and the impact of biased media coverage, such as the negative depiction of financial markets, shareholders, and managers in Hollywood movies.
Artikel Lesen
05.04.2023 • 8/2023
Gemeinschaftsdiagnose Frühjahr 2023: Inflation im Kern hoch – Angebotskräfte jetzt stärken
Die führenden Wirtschaftsforschungsinstitute haben ihre Prognose für den Anstieg der Wirtschaftsleistung im laufenden Jahr auf 0,3% angehoben. Im Herbst hatten sie noch mit einem Rückgang um 0,4% gerechnet. „Der konjunkturelle Rückschlag im Winterhalbjahr 2022/2023 dürfte glimpflicher ausgefallen sein als im Herbst befürchtet. Maßgeblich ist ein geringerer Kaufkraftentzug infolge deutlich rückläufiger Energiepreise“, sagt ifo-Konjunkturchef Timo Wollmershäuser zur Begründung. Dennoch wird die Inflationsrate nur langsam zurückgehen von 6,9% im vergangenen Jahr auf 6,0% in diesem Jahr.
Oliver Holtemöller
Pressemitteilung lesen
Startseite
Gegenwind aus In- und Ausland: Institute revidieren Prognose deutlich nach unten Die Wirtschaft in Deutschland ist aus...
Zur Seite
Finanzstabilität
Finanzsysteme: Die Anatomie der Marktwirtschaft Wie ist das Finanzsystem aufgebaut, wie funktioniert es, wie...
Zur Seite