Economics Commons^™

Financial Safety Nets, Bank Risk And Depositor Behaviour In Central And Eastern Europe, Dorota Skała

Journal of Banking and Financial Economics

We studied expansions in financial safety nets and their relation to bank risk and depositor behaviour in Central and Eastern Europe, using time-varying regulatory data. In general, we find that stronger deposit insurance and state aid granted to banks are linked with both bank risk and depositor behaviour. However, these relations critically depend on whether safety net instruments are used separately or simultaneously. When deposit insurance is strengthened or state aid is granted, we confirm the standard moral hazard behaviour of banks visible in higher bank risk. In parallel, we observe more elevated deposit growth, implying lower market discipline. Conversely, …

Connectedness Of Uncertainty, Volatility, And Stock Market Performance, Szczepan Urjasz

Journal of Banking and Financial Economics

This study examines the dynamic connectedness and spillover effects among various financial and economic indicators, including uncertainty indices, market volatility, and stock market indices, from 3 June 2008, to 30 December 2024. This interconnectedness implies that shocks originating in one market or asset class can rapidly transmit to others, underscoring the potential for systemic risk and financial contagion. The US emerges as a significant net transmitter of influence within the global financial system, with the VIX playing a crucial role in influencing global financial conditions. Major European equity markets also transmit influence, while the Geopolitical Risk Index (GRI) and the …

Intergenerational Transfers In A Tractable Overlapping-Generations Setting, James Feigenbaum, T. Scott Findley, Sepideh Raei

Economics and Finance Faculty Publications

Motivated by the Generation-Skipping Transfer Tax (GSTT) in the United States, we examine how varying estate tax rates by the heir’s age affects welfare. Methodologically, we introduce a parsimonious constant elasticity of substitution (CES) bequest utility that is markedly more tractable than the altruistic specifications commonly used in the literature, delivering closed-form optimal rules and transparent parameterization. Using this new framework, we provide a proof of concept showing how transfers from older to younger generations can enhance equilibrium welfare in a dynamically efficient economy à la Samuelson (1975). We embed the tractable bequest utility in a two-period overlapping-generations model with …

A Capital Idea? The Welfare Effects Of Relocating Indonesia’S Government To A New City, Alexander D. Rothenberg, Radine Rafols, Yao Wang, Yi Jiang

Center for Policy Research

Many developing countries are planning to create new capital cities, a place-making policy designed to alleviate congestion and respond to climate change. To evaluate growth and welfare effects, we specify a dynamic quantitative spatial model with public employment, informality, fiscal transfers, and frictions in trade and migration. We calibrate the model with data from Indonesia and conduct policy experiments studying the creation of Nusantara in East Kalimantan. Despite increasing employment in the new capital region, we find that building Nusantara reduces national growth and welfare. Climate change attenuates its negative welfare effects, but only slightly.

Regulating Privacy Policies On Digital Platforms, Michele Bisceglia, Alessandro Bonatti, Fiona Scott Morton

Cowles Foundation Discussion Papers

We study how privacy regulation affects menu pricing by a monopolist platform that collects and monetizes personal data. Consumers differ in privacy valuation and sophistication: naive users ignore privacy losses, while sophisticated users internalize them. The platform designs prices and data collection options to screen users. Without regulation, privacy allocations are distorted and naive users are exploited. Regulation through privacy-protecting defaults can create a market for information by inducing payments for data; hard caps on data collection protect naive users but may restrict efficient data trade.

South Carolina Reemployment Services And Eligibility Assessments (Resea) Randomized Controlled Trial Design Report, Gabrielle Pepin, Ethan Jenkins, Christopher J. O'Leary, Aaron Sojourner

Upjohn Institute Technical Reports

No abstract provided.

Immigration And The U.S. Economy Under Obama And Trump, Eliz Gevorgian

Political Science Student Research

This paper examines the economic effects of the United States' immigration policy under President Barack Obama and President Donald Trump. Between 2009 and 2017, the Obama administration introduced programs such as Deferred Action for Childhood Arrivals (DACA) and expanded access to student and work visas. These actions coincided with steady GDP growth averaging about 2 percent per year and a decline in unemployment from 9.9 percent in 2009 to 4.7 percent in 2016. The Trump administration, in office from 2017 to 2021, implemented more restrictive immigration measures, including the 2017 travel ban, reduced refugee admissions, increased H1B visa scrutiny, and …

Racial Capitalism And Whitelash: Trumpism And The Politics Of Oppression Redux–A New Normal Or Just New Perfume In An Old Bottle?, Bhoomi K. Thakore, J. Scott Carter, Cameron Lippard, David G. Embrick

Fast Capitalism

There is no question that Donald Trump’s actions in his second presidential term have many people bewildered, shocked, and frightened. What was deemed “not normal” in his first term in office has quickly become the “new normal.” In this paper, we argue that part of the explanation for the rise, and repeated rise, of Trumpism lies in Donald Trump’s ability to fuel and maintain a whitelash against the social progress of the 20th and early 21st century. Not only has Trumpism picked up on the “reverse racism” sentiments that have sprouted as a result of racial, gender, and social progress, …

“This Is Not Normal”: The Global Academy’S Resistance To Authoritarianism And Academic Capitalism, Catherine A. Labrenz, Christian Adeleke, Maria Lúcia T. Garcia, Aline Pandolfi, Mara Mattioni, Fabíola Xavier Leal, Marcela Nava

Fast Capitalism

Summary: In the wake of rising authoritarianism and neoliberal retrenchment, academic institutions across the globe are increasingly pressured to suppress dissent, sanitize curricula, and deprioritize justice-based scholarship. Drawing from responses to political repression in Brazil and Argentina, this paper connects present-day U.S. conditions to transnational histories of academic resistance.

Findings: We locate today’s institutional silencing within the broader logics of academic capitalism and authoritarian governance, emphasizing how compliance, rather than critical engagement, is becoming the new normal.

Applications: Drawing on radical traditions of academic and professional resistance from the Americas, we present lessons learned and action steps …

Front Matter, Fast Capitalism Editorial Team

Fast Capitalism

No abstract provided.

Frantz Fanon / Immanuel Wallerstein: Marxism, Capitalism, And The Now Uncertain World, Charles Lemert

Fast Capitalism

No abstract provided.

Full Issue, Fast Capitalism Editorial Team

Fast Capitalism

No abstract provided.

Masses, Platforms, And The New Data Domination: Repressive Desublimation Revisited, Raymond L.M. Lee

Fast Capitalism

The world now resembles a mosaic of platforms orchestrating subjective responses to myriad digital stimuli in everyday communication and conduct. People appear to find fulfillment mainly through intense engagement with platforms that thrive on data produced by online entanglements. This is a world society of data domination where power is derived from high-tech interconnectivity, focused on an interplay between technological innovations and mass distraction. Platforms are seen as digital monopolies banking on mass online participation for data extraction and control. In that sense, they foster new forms of desublimation that Herbert Marcuse would have regarded as a re-flowering of repressive …

Psychology, Philosophy, And The Practice Of Politics, Shimon Edelman

Fast Capitalism

No abstract provided.

“This Is The New Normal?” Restoring Or Restricting Democracy Today In America, Timothy W. Luke

Fast Capitalism

No abstract provided.

Populism In The Technospheric, Jamie Ranger

Fast Capitalism

I argue that the technospheric condition - a socio-technical reality shaped by social acceleration, the industrialization of memory, and mediatization - serves as a structural catalyst for the repoliticisation of the status quo, necessitating a rethinking of Ernesto Laclau’s discursive approach to populism. Drawing on insights from Bernard Stiegler, Hartmut Rosa, and others, I characterize contemporary social life as deeply entangled with technospheric forces, which exacerbate social problems and provoke counterhegemonic responses. These responses, politically solidified in both emancipatory and reactionary populisms, are not only shaped by populist strategy but also increasingly influenced by algorithmic steering on social media. Thus, …

The Politics Of Parasites And Superfluous Majorities, Samuel Beckenhauer

Fast Capitalism

No abstract provided.

Trump Redux: Immigration, Indigeneity, And America, Nancy S. Love

Fast Capitalism

No abstract provided.

The Politics Of Disappearance: Mahmoud Khalil And America’S Descent Into Fascism, Henry A. Giroux

Fast Capitalism

No abstract provided.

The 100 Days Partnership Between Musk And Trump And The Crises Of American Democracy, Douglas Kellner

Fast Capitalism

No abstract provided.

Still Making It Up As He Goes: Revisiting The Hyper-Rhetorical Presidency In Trump’S Second Term, Richard Holtzman

Fast Capitalism

No abstract provided.

Introduction, Timothy W. Luke

Fast Capitalism

No abstract provided.

Exploring Private And Governmental Interest In Bitcoin, Mina Khadem

Undergraduate Theses, Capstones, and Recitals

Regardless of one’s opinion, Bitcoin’s presence in the global economy is growing. However, Bitcoin’s emerging role and its implications are greatly under-researched, particularly in the context of government interest in Bitcoin. Nonetheless, increased private investment in Bitcoin and increased government interest in formally incorporating Bitcoin into existing economic systems, suggest a new development within the global economy that must be investigated. Through qualitative text analysis of pro-Bitcoin narratives presented in digital media platforms and official government policies and public statements, this thesis explores how private and government interest in Bitcoin is explained and framed within these contexts. This study finds …

Doughnut Economics And Strong Sustainability: Rethinking The Role Of Financial Investment, Isabelle Pierotti

Electronic Theses and Dissertations

This thesis investigates how private investment could align doughnut economic framework. Doughnut economics is a strong sustainability economic framework where the economy operates within planetary boundaries while ensuring social equity. Theories of sustainable development, weak sustainability, and strong sustainability are discussed to provide theoretical context for doughnut economics and mainstream economics. The analysis concludes that conventional, profit maximizing private investment does not support a doughnut economics system by supporting the depletion of natural resources and exacerbating social issues. Sustainable mainstream investment also fails to support a doughnut framework. Lastly, while impact investment is theoretically committed to social and financial returns, …

The Future Of Kashf, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Let me begin by congratulating KASHF for completing a landmark in its history i.e ten years of impressive performance. The vision, energetic leadership and dedication of the founder of KASHF – Roshaneh Zafar have turned an idea into a living and thriving entity. More than anybody else she deserves our gratitude and appreciation for an excellent job done. I also would like to commend the Board, the staff and the clients of KASHF on this occasion. I am also delighted that Prof. Yunus, the founder and visionary of microcredit has joined us today for this celebration. I consider him as …

An Analysis Of The Banks’ Write-Offs 1999–2003, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to thank the Institute of Bankers, Pakistan for inviting me to this auspicious occasion of the Annual Prize Award Ceremony. Let me offer my sincere felicitations to those of you who have won distinctions, awards and prizes. I would hasten to add that you should consider this as a beginning of a long journey towards professional growth and accomplishments. Those who will make a commitment to acquiring skills and knowledge throughout their careers will have nothing to fear about – but those who become complacent or rest on the laurels they have achieved by obtaining degrees and …

Marketing Pakistan’S Image, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

People buy brands, not products. That is the age-old, established fact supported by extensive research that every marketer worth his or her salt would always stand by. The interesting thing is that these days, development and pursuance of a successful brand strategy is no longer the sole domain of corporate entities alone, but has seen a cross-over to politics and Governments also. Indeed, many Government now endeavor to transform themselves and operate as corporate entities. Malaysia Inc. is one example. So branding is the key to success. Having said that, the marketers in this audience will vouch that branding is …

Seminar/Exhibition On Technological Innovation In The Financial Sector, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to thank the Sindh Government, CSP and PASHA for inviting me to this Seminar/Exhibition on Technological Innovation in the Financial Sector. I commend all the Organizers of this event for taking this initiative and exposing the public at large to the progress we have made so far in this field. I am glad that the CSP is working on Certification and Accreditation of IT Professionals because this will sift the real professionals from the crowd. This morning, I will walk you through the considerable headway the Financial Services Industry has made during the last three years.

Preparing For The Artificial Intelligence (Ai) Economy In The Mountain West, 2025, Kian Parikh, Taylor Volk, Maisoon Faris, Kristian Thymianos, William E. Brown Jr.

Economic Development & Workforce

This fact sheet presents data from the Brainly report, “Here Are the States Most (and Least) Prepared to Win the AI Race in 2025” for the five Mountain West states of Arizona, Colorado, New Mexico, Nevada, and Utah. This fact sheet highlights the national and individual rankings of four key metrics for each Mountain West state: the fixed percentage of businesses using artificial intelligence (AI); the number of AI jobs per 1,000 workers; the number of AI-related degrees per 10,000 people ages 20-24; and federal funding for small business technology innovation per $1 million of gross domestic product (GDP).

Probability Pricing, Eduardo Dávila, Cecilia Parlatore, Ansgar Walther

Cowles Foundation Discussion Papers

This paper develops probability pricing, extending cash flow pricing to quantify the willingnessto-pay for changes in probabilities. We show that the value of any marginal change in probabilities can be expressed as a standard asset-pricing formula with hypothetical cash flows derived from changes in the survival function. This equivalence between probability and cash flow valuation allows us to construct hedging strategies and systematically decompose individual and aggregate willingness-to-pay. Four applications examine the valuation of changes in the distribution of aggregate consumption, the efficiency effects of varying performance precision in principal-agent problems, and the welfare implications of public and private information.