34 documents found, page 1 of 4
Exemption or illusion? The impact of a youth tax policy on house asking prices ...
Clemente-Casinhas, L.; Vale, S.Affordable housing has become an increasing challenge for young individuals in Portugal, where rising house prices and precarious employment conditions hinder homeownership. To address this barrier, the Portuguese Government introduced a tax exemption for individuals under 35 purchasing their first home. However, while the policy aims to improve housing affordability, it may paradoxically drive house prices up ...
Unconventional fiscal policies in response to inflation: The Iberian exception ...
Cerdeira, L.; Vale, S.; Clemente-Casinhas, L.The surge in Eurozone inflation in 2022 compelled European governments to implement unconventional fiscal policies. One initiative, the Iberian Exception, imposed a cap on the cost of natural gas used for electricity generation in Portugal and Spain. Using a Bayesian Vector Autoregressive model combined with Bayesian Dynamic Forecasting, we predict a 3.14 p.p. in energy inflation from July 2022 to December 2023...
Oil price swings and inflationary echoes: The impact of oil market shocks on co...
Gago, J.; Vale, S.This paper empirically investigates the impact of oil price fluctuations on inflation in France, Germany, Portugal, and the United States. Employing a Structural Vector Autoregression (SVAR) model, we analyze the effects of oil supply shocks, global aggregate demand shocks, and oil-specific demand shocks on headline and core inflation as well as the Producer Price Index. Our findings indicate that oil market sh...
Varieties of economic elites? Preliminary results from the World Elite Database...
Bühlmann, F.; Christesen, C. A.; Cousin, B.; Denord, F.; Ellersgaard, C. H.; Lagneau-Ymonet, P.; Larsen, A. G.; Savage, M.; Thine, S.; Young, K.The strategies, decisions and beliefs of those who occupy prominent positions of economic power have influence on very large corporations and the markets they dominate, on vast amounts of economic resources, and on the rules of the game. However, the sociology of elites faces a dual challenge: divergent conceptualisations of what can be considered as a position of economic power and internationally incompatible...
Is there a nonlinear relationship between public investment and private investm...
Marcos, S. S.; Vale, S.This paper studies the relationship between public investment and private investment in a sample of 21 Organization for Economic Cooperation and Development (OECD) countries between 2000 and 2019. Using panel data nonlinear threshold regression models, the empirical results show that there exist threshold levels for the share of public investment in private investment, the real Gross Domestic Product (GDP) grow...
Club convergence in the eurozone: A look at inequality dynamics
Vale, S.This paper examines the convergence of eurozone countries’ inequality indicators between 1995 and 2020. The Phillips and Sul (2007, 2009) methodology is used to determine the existence of convergence clubs. Our findings show that eurozone countries follow a similar trajectory in terms of the income of the richest 1% of the population and are divided into two clusters based on other inequality indicators.
The re-emergence of food security in the western world: Short supply chains in ...
Sousa, C.; Vale, S.; Ferreiro, M. de F.In the context of growing concerns surrounding food security and sustainability, this paper examines the emergence of short food supply chains (SFSCs) as alternative food systems. Focusing on box schemes in Portugal, the study investigates the socioeconomic factors influencing the presence of SFSC actors, utilizing a quantitative approach. Drawing on data from 420 producers offering food boxes and secondary dat...
House prices and credit as transmission channels from monetary policy to inequa...
Vale, S.Using a panel vector autoregressive model, this paper assesses the impact of monetary policy on the Gini coefficient of disposable income for 30 OECD countries between 1995Q1 and 2019Q4. We assume house prices and household credit as transmission channels, representing households’ financial balance. To capture the effect of the financial crisis, the analysis further distinguishes the period that started in 2008...
The multidimensional role of social entrepreneurship: A case study approach wit...
Ferreiro, M. de F.; Sousa, C.; Vale, S.; Sousa, M. J.Social entrepreneurship creates social value and has a multidimensional impact (e.g. economic, environmental, cultural). This is related to the complexity and multidimensional approaches to current societal problems such as climatic changes and socioeconomic crises. The paper explores this multidimensionality by presenting three Portuguese case studies of social entrepreneurship operating in diverse domains. Th...
Europe at the crossroad of the Covid-19 crisis: Integrated macroeconomic policy...
Vale, S.; Mendonça, A.The economic crisis triggered by the COVID–19 pandemics raised once again doubts about the eurozone's ability to deal with common serious economic problems. The effects of the 2008 – 2009’s economic and financial crisis have not been completely exhausted, and a new crisis of yet unknown proportions emerged, bringing with it the traditional divergences between a common and integrated approach to problems and a c...