Using London Stock Exchange data (Jan 10, 2021, to Feb 24, 2022) and fixed-effects regression methods, this study assesses COVID-19 vaccine effects on UK stock returns. Initial protocol doses have a strong positive impact on returns, while boosters have a modest positive impact. A logarithmic...

We propose a high-frequency digital economy index by combining official white papers and big data. It aims to resolve the discrepancy between the new economic reality and old economic indicators used by decision-makers and policymakers. We have demonstrated a significant effect due to keyword...

This paper proposes a nonlinear teaching approach, based on learning theories in cognitive psychology, with a special focus on large-cohort economics modules. The fundamental rationale is to match the features of teaching with the nature of learning. This approach was implemented in an...

We build a model to study the interaction between default risk, policy changes, and financial frictions within a monetary union. The model features a centralised central bank and decentralised fiscal authorities. Countries have different reputations for fiscal stability, modelled as different...

This paper presents a thorough examination of centralized use of a decentralized technology (blockchain) in monetary and financial systems at the national level. A comparative study is conducted to summarize the regulatory and legislative frameworks of currency/asset tokenization in seven major...

This paper introduces a novel model to analyse the impact of macroeconomic shocks on volatility spillovers within key financial markets, such as Stock, Bond, Gold and Crude Oil. By treating macroeconomic variables as external factors to financial market volatility, our study distinguishes...

This paper examines cross-country heterogeneities and over-time changes of the role of social media marketing (SMM) in the luxury fashion industry. A comprehensive literature review is conducted on customer value, purchase intention, and engagement motivation to understand the causes and effects...

We implement a quantitative empirical test of the fiscal theory of the price level (FTPL) model via indirect inference, comparing it to a standard New Keynesian model. The FTPL alternative creates a serious instability problem because it triggers a 'doom loop'in which inflation pushes up...

Alcohol consumption among older adults has been drawing public health interest due to the rising use of alcohol in the growing elderly population. This paper adds to the understanding of alcohol consumption in later life by investigating the impact of a specific life event: the transition to an...