| 1. |
- Andersson, Tommy, et al.
(författare)
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A Simple Model of the Production-health Trade-off During an Epidemic
- 2022
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Ingår i: Economics Bulletin. - : Economics Bulletin. - 1545-2921. ; 42:1, s. 224-231
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Tidskriftsartikel (refereegranskat)abstract
- The purpose of this paper is to simplify the standard framework integrating epidemiological and economic concerns. We present a model where a social planner can influence the spread-intensity of an infection wave through a single parameter. The spread-intensity affects both economic activity and population health. We study the planner's optimal trade-off between upholding economic activity and preserving population health and show analytically that the solution has a natural interpretation with intuitive comparative statics
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| 2. |
- Hellquist, Oskar, et al.
(författare)
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Switching costs in the Swedish retail market for electricity
- 2023
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Ingår i: Economics Bulletin. - : Economics Bulletin. - 1545-2921. ; 43:1, s. 18-27
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Tidskriftsartikel (refereegranskat)abstract
- We estimate monetary values for switching costs in the Swedish market for electricity for private householdconsumers, using two different numerical methods. The electricity providers in Sweden with over 1 per cent marketshare were studied. Switching costs were estimated to be between 50 per cent and 95 per cent of yearly costs forelectricity. Considering that the electricity retail market was deregulated more than 20 years ago, and that the Swedishgovernment continues to facilitate switching for consumers, it is noteworthy that switching costs are still this high.Given that electricity is a homogeneous product where switching costs are mainly due to transaction costs andpsychological barriers to switching, it seems likely that switching costs may be even higher in other markets wherethere are additional barriers to switching.
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| 3. |
- Mallios, Aineas, 1988
(författare)
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Manipulation in reported dividends: Empirical evidence from US banks
- 2023
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Ingår i: Economics Bulletin. - 1545-2921. ; 43:1, s. 441-461
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Tidskriftsartikel (refereegranskat)abstract
- Based on a sample of US banks, and adopting Benford’s law, regarding the distribution of digits of random numbers, I analyse reported dividends per share (DPS). I find uncommon patterns of significant digits of reported DPS that depart from the expected frequency based on Benford’s law. I argue that the data may have been transformed to conceal the real financial conditions of the sample institutions. I show that the observed distribution of digits in the second place of DPS deviates significantly from Benford’s law, especially for banks with high stock price volatility. I also find that banks report DPS with frequencies of second-place digits that deviate significantly from Benford’s expected frequencies, regardless of whether they are large or small, and listed or not. Finally, I find no evidence that banks undertake less manipulation in the fourth quarter, which is audited, than in the previous three quarters. Misreporting dividends to conceal or improve true financial performance affects the decisionmaking of investors and financial analysts.
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| 4. |
- Stolbov, Mikhail, et al.
(författare)
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Does global financial cycle drive systemic risk?
- 2021
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Ingår i: Economics Bulletin. - : ECONOMICS BULLETIN. - 1545-2921. ; 41:4, s. 2320-2329
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Tidskriftsartikel (refereegranskat)abstract
- The paper studies the relationship between a financial cycle proxy and conditional capital shortfall (SRISK), a popular systemic risk measure, at the global level. Based on causal and directional dependence analyses in the time and time-frequency domains, we find that global financial cycle (GFC) drives SRISK. Besides, the GFC variable appears more useful in forecasting world industrial production. The results emphasize the GFC relevance for monitoring financial stability and forecasting crises relative to narrow systemic risk measures.
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