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- Bengtsson, Erik, 1984, et al.
(författare)
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Financial effects in historic consumption and investment functions
- 2020
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Ingår i: International Review of Applied Economics. - : Informa UK Limited. - 0269-2171 .- 1465-3486. ; 34:3, s. 304-326
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Tidskriftsartikel (refereegranskat)abstract
- The globalfinancial crisis has highlighted the importance offinan-cial factors on economic performance. Most of the existing research analyses the contemporary experience, and especially the 1980s onwards. This paper investigates the effects of stock prices, realestate prices and debt on consumption and investment expenditures by estimating consumption and investment equations for about 110 years of data for Britain, France, Norway and Sweden. We find positive debt effects on consumption in three of four countries, but no consistent effects of stock prices and house prices. Effects on consumption are stronger in the more market-based economy of Britain than in the more state-oriented economies of France, Norway and Sweden: in Britain but not in the other countries, consumption has increased in response to stock and house prices. We find positive effects of stock prices on investment in all four countries. Credit expansion boosts investment in some of the countries while house prices seem to have become more influential for investment after 1980. The results indicate that there is interesting variation in financial effects over time, and point forward for possible research on the interaction between financial variables and the real economy since the early twentieth century.
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- Bengtsson, Erik, 1984, et al.
(författare)
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Wages, Income Distribution and Economic Growth: Long-Run Perspectives in Scandinavia, 1900-2010
- 2021
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Ingår i: Review of Political Economy. - : Informa UK Limited. - 0953-8259 .- 1465-3982. ; 33:4, s. 725-745
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Tidskriftsartikel (refereegranskat)abstract
- This article views analysis of the influence of capital-labour income distribution on economic growth from a historical perspective, using data from 1900 onwards. We study the three Scandinavian countries of Sweden, Denmark and Norway, where conventional accounts of the postwar growth miracles in these small, open economies have emphasized the role of wage restraint, favouring profits and investment over consumption. Instead, we show that the 1950s and 1960s saw growing wage shares, and use the Bhaduri-Marglin model to econometrically analyse the effects on consumption, investment, exports and imports and the total effects on GDP. Furthermore, we estimate the effects of wage pressure on labour productivity. Growing wage shares have had a small positive effect on GDP growth in Sweden, Denmark and Norway, and the positive effect was larger in the postwar period than in other times. However, the positive growth effects of wage pressure were modest as the demand was only weakly wage-led. In contrast, supply side effects were large. Labour productivity was stimulated by vigorous wage increases, as argued by the Swedish Rehn-Meidner model as well as by post-Keynesian economists. The present investigation opens several further avenues for research on the distribution-growth nexus.
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- Inda Diaz, Juan Salvador, 1984, et al.
(författare)
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Latent antibiotic resistance genes are abundant, diverse, and mobile in human, animal, and environmental microbiomes
- 2023
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Ingår i: Microbiome. - : Springer Science and Business Media LLC. - 2049-2618. ; 11:1, s. 44-
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Tidskriftsartikel (refereegranskat)abstract
- BACKGROUND: Bacterial communities in humans, animals, and the external environment maintain a large collection of antibiotic resistance genes (ARGs). However, few of these ARGs are well-characterized and thus established in existing resistance gene databases. In contrast, the remaining latent ARGs are typically unknown and overlooked in most sequencing-based studies. Our view of the resistome and its diversity is therefore incomplete, which hampers our ability to assess risk for promotion and spread of yet undiscovered resistance determinants. RESULTS: A reference database consisting of both established and latent ARGs (ARGs not present in current resistance gene repositories) was created. By analyzing more than 10,000 metagenomic samples, we showed that latent ARGs were more abundant and diverse than established ARGs in all studied environments, including the human- and animal-associated microbiomes. The pan-resistomes, i.e., all ARGs present in an environment, were heavily dominated by latent ARGs. In comparison, the core-resistome, i.e., ARGs that were commonly encountered, comprised both latent and established ARGs. We identified several latent ARGs shared between environments and/or present in human pathogens. Context analysis of these genes showed that they were located on mobile genetic elements, including conjugative elements. We, furthermore, identified that wastewater microbiomes had a surprisingly large pan- and core-resistome, which makes it a potentially high-risk environment for the mobilization and promotion of latent ARGs. CONCLUSIONS: Our results show that latent ARGs are ubiquitously present in all environments and constitute a diverse reservoir from which new resistance determinants can be recruited to pathogens. Several latent ARGs already had high mobile potential and were present in human pathogens, suggesting that they may constitute emerging threats to human health. We conclude that the full resistome-including both latent and established ARGs-needs to be considered to properly assess the risks associated with antibiotic selection pressures. Video Abstract.
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