Collateral is a significant challenge for small and medium enterprises (SMEs) in acquiring formal credit. Bank market concentration can cause to increase collateral demand through enhancing bank market power. This study explores the relationship between bank market concentration and the...

This paper aims to evaluate the culture and arts of Kyoto Prefecture through the calculation of its cultural GDP in 2015. The method for calculating the cultural GDP in Japan is mainly based on the criterion of the UNESCO Culture Satellite Account (CSA). Results reveal that the ratio of the...

In recent years, there has been a resurgence of interest in the controversies surrounding capital theory. At the heart of these debates are the empirically observed near-linearities in the price-rate of profit and wage rate of profit curves. This article posits that these near-linearities can be...

The COVID-19 pandemic has had a significant and unprecedented impact on the global economy, affecting both supply and demand in various industries. The literature on the pandemic has mainly focused on evaluating its real-time impact, using input-output analysis as a toolset. However, this paper...

Network linkage is important in evaluating macroeconomic performance since input‒output networks across industries are asymmetric and respond differently to external shocks. While most studies implicitly assume elastic substitution between intermediates and factors using Cobb‒Douglas models,...

Two perspectives on the analysis of economic growth have developed within the input-output framework. On the one hand, Leontief proposed a dynamic model, where investment supplies the necessary capital stock needed to produce future output. On the other hand, Structural Decomposition Analysis...

Understanding the structure and properties of production networks is essential to identify the transmission channels from monetary shocks. While growingly studied, this literature keeps displaying critical caveats from which the investigation of G-7 economies is not spared. To fill this gap,...

This paper attempts to estimate the impact of a rehiring subsidy implemented as part of the COVID-19 crisis impact response in Morocco. Using administrative data from the National Social Security Fund, it develops the instrumental variable method to estimate the causal effect of this scheme on...

The recent home bias is primarily related to the equity bias as measured by the international capital asset pricing model (CAPM); this measure has declined over the past two decades amid financial globalization, but remains high in most developed countries. The key to understanding this puzzling...

This paper examines the relationship between commodity returns in Ghana and if any, the role of exchange rate on such relationship using wavelet analysis and monthly data from September, 2007 to March, 2021. We test for the robustness of the empirical findings using multiple wavelet analysis. We...