Search results for: income generation

Authors: Taisier A. Zoubi, Feras Salama, Mahmud Hossain, Yass A. Alkafaji

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The purpose of this study is to examine the equity pricing of other comprehensive income when earnings are disaggregated into several components. Our findings indicate that other comprehensive income can better explain variation in stock returns when net income is reported in a disaggregated form. Additionally, we found that disaggregating both net income and other comprehensive income can explain more of the variation in the stock returns than the two summary components of comprehensive income. Our results survive a series of robustness checks.

Keywords: market valuation, other comprehensive income, value-relevance, incremental information content

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Authors: Ceren Akyüz, Ingo Froboese

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Health literacy has gained importance with the further spread of the coronavirus disease (COVID-19) worldwide and has been associated with health status in various chronic diseases. Many studies indicate that mental health can be improved by low- or moderate-intensity activity, and several studies have been proposed to explain the relationship between physical activity and mental health. The aim of the present study is to investigate the levels of physical activity, health literacy, and depression in first- and- second generation Turkish people in Germany. The research consists of 434 participants (255 females, 179 males; age 38.09 ± 13.73). 40.8 % of participants are married, and 59.2 % of participants are single. Education levels are mostly at university level (54.8 %), and graduate level is 18.9 %. While 24.9 % of the participants are second generation, 75.1 % of participants are first generation. All analyses were stratified on gender, marital status, education, generation and income status, and five age categories: 18–30, 31–40, 41–50, 51–60, and 61–79, which were defined to account for age-specific trends while maintaining sufficient cell size for statistical analysis. A correlation of depression with physical activity and health literacy levels between first- and- second generation Turks in Germany was evaluated in order to find out whether there are significant differences between the two populations and demographic variables (gender, marital status, education, generation, income status) with carrying out questionnaires which are European Health Literacy Survey Questionnaire (HLS-EU-Q47), International Physical Activity Questionnaire ( IPAQ) and the Patient Health Questionnaire-9 (PHQ-9).

Keywords: health literacy, turks in germany, migrants, depression, physical activity

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Authors: Vikram Singh

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This paper aims to take into account carbon tax or cap-and-trade legislation to manage Delhi carbon emissions after a post-Kyoto treaty. This report estimated the influence of the carbon taxes or rebate/compensation cost at the household level. Here, the three possible scenarios will help to comprehend the difference between a straightforward compensation/rebate, and two clearly denoting progressive formula. The straightforward compensation is basically minimizing the regressive applications that will bears on cost. On the other hand, both the progressive formula will generate extra revenue, which will help for feasibility of more efficient, vehicles, appliances and buildings in the low-income household. For the hypothetical case of carbon price $40/tonne, low-income household for both urban and rural region could experience price burden up to 5% and 9% on their income as compared to 3% and 7% for high-income household respectively. The survey report also shown that carbon emission due low-income household are primarily by the substantive requirement like housing and transportation whereas almost 40% emission due to high-income household are by luxurious and non-essential items. The equal distribution of revenue cum incentives will not completely overcome high-income household’s investment in inessential items. However, it will merely help in investing their income in energy efficient and less carbon intensive items. Therefore, the rebate distribution on per capita basis instead on per households will benefit more especially large families at low-income group.

Keywords: household emission, carbon credit, carbon intensity, green house gas emission, carbon generation based insentives

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Authors: Yakubu Abdulai, Kenichi Matsui

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The agricultural industry has faced a variety of challenges in meeting the expanding income demand of the rural population. As a result, rural households must diversify their income sources to meet their income demand. Although income diversification strategies help rural households, it contributes to total household income, and the socio-demographic determinants are not known in the Upper East Region of Ghana. For these reasons, the purpose of this study was to determine the contribution of income diversification strategies to household income and the socio-demographic factors influencing it. We conducted a questionnaire survey among 360 rural households in the Upper East Region of Ghana. We asked about their socio-demographic information, their choice of income diversification strategies, and their remittances through rural-city migration. The questionnaire survey findings demonstrate that the main livelihood income source contributes 22%, and on-farm income diversification contributes the most to household total income (47%), followed by non-farm diversification income (16%) and off-farm diversification income (15%). Calculations from the income diversity index showed that the average income diversification strategy was 0.5 out of 1. The calculation of the income dependence index also showed that the average dependent on a particular source of income was 0.2 out of 1. All the respondents said household members temporarily migrate to contribute to household income through remittances. The results further reveal that their choice of income diversification is influenced by their age, educational background, experience, and farm size. The paper recommends the promotion of rural development policies that increase income-generating activities and educate rural households on how to increase returns from their investment.

Keywords: income diversification, poverty alleviation, rural households, upper east region

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Authors: J. Kodoh, H. L. Dumil, M. Maid

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Agroforestry system has been widely documented that provide benefits to rural livelihoods and improved socioeconomic status. This study concerns on agroforestry practices in generating local socioeconomic livelihoods. The general approach is to survey local community involvement in the agroforestry activities at four selected rural villages in Paitan district, using a structured questionnaire through personal interview technique. A total of 200 respondents were interviewed where the largest age group of the respondents was more than 50 years old (31%). Almost all respondents had former education (76%), and majority of them were employed (97%) either in the government and private sectors or self-employed. All respondents (100%) were involved in agroforestry activities where agroforestry products as their source of income (Hevea brasiliensis, Durio zibethinus, Elaeis guinensis) and foods (Manihot esculenta, Mangifera sp., Musa sp.) The mean monthly income from selling agroforestry products contributed 16.6% (USD130.37) of the mean total monthly income of the respondents (r=0.407, r²=0.166, p < 0.01). This study also showed that the main driven factor for the respondents (93%) to adopt and sustain the agroforestry practices is their traditional ways of farming that transferred from generation to generation.

Keywords: agroforestry, Paitan district, rural community, socioeconomic

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Authors: Ranajoy Bhattcharyya

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We estimate international product cycles as shifting product spaces by using 1976 to 2010 UN Comtrade data on all differentiated tradable products in all countries. We use a product space approach to identify the representative product baskets of high-, middle and low-income countries and then use these baskets to identify the patterns of change in comparative advantage of countries over time. We find evidence of a product cycle in two senses: First, high-, middle- and low-income countries differ in comparative advantage, and high-income products migrate to the middle-income basket. A similar pattern is observed for middle- and low-income countries. Our estimation of the lag shows that middle-income countries tend to quickly take up the products of high-income countries, but low-income countries take a longer time absorbing these products. Thus, the gap between low- and middle-income countries is considerably higher than that between middle- and high-income nations.

Keywords: product cycle, comparative advantage, representative product basket, ex-post data

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Authors: Marjan Majdi, MohammadAli Moradi, Elham Samarikhalaj

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Income distribution is one of the most topics in macro economic theories. There are many categories in economy such as income distribution that have the most influenced by economic policies. Human capital has an impact on economic growth and it has significant effect on income distributions. The results of this study confirm that the effects of oil revenue and human capital on income distribution are negative and significant but the value of the estimated coefficient is too small in a real sample in period time (1969-2006).

Keywords: gini coefficient, human capital, income distribution, oil revenue

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Authors: Shoji Katagiri

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This paper is to clarify the relationship between ICT and income inequality. To do so, we develop the general equilibrium model with ICT investment, obtain the equilibrium solutions, and then simulate the model with these solutions for some OECD countries. As a result, generally, during the corresponding periods we confirm that the relationship between ICT investment and income inequality is positive. In this mode, the increment of the ratio of ICT investment to the aggregated investment in stock enhances the capital’s share of income, and finally leads to income inequality such as the increase of the share of the top decile income. Although we confirm the positive relationship between ICT investment and income inequality, the upward trend for that relationship depends on the values of parameters for the making use of the simulations and these parameters are not deterministic in the magnitudes on the calculated results for the simulations.

Keywords: ICT, inequality, capital accumulation, technology

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Authors: Ayodeji Motunrayo Omoare

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Economically fish provides an important source of food and income for both men and women especially many households in the developing world and fishing has an important social and cultural position in river-rine communities. However, fish is highly susceptible to deterioration. Consequently, this study was carried out to correlate income generation of small-scale women fish processors in Abeokuta metropolis, Ogun State, Nigeria. Eighty small-scale women fish processors were randomly selected from five communities as the sample size for this study. Collected data were analyzed using both descriptive and inferential statistics. The results showed that the mean age of the respondents was 31.75 years with average household size of 4 people while 47.5% of the respondents had primary education. Most (86.3%) of the respondents were married and had spent more than 11 years in fish processing. The respondents were predominantly Yoruba tribe (91.2%). Majority (71.3%) of the respondents used traditional kiln for processing their fish while 23.7% of the respondents used hot vegetable oil to fry their fish. Also, the result revealed that respondents sourced capital from Personal Savings (48.8%), Cooperatives (27.5%), Friends and Family (17.5%) and Microfinance Banks (6.2%) for fish processing activities. The respondents generated an average income of ₦7,000.00 from roasted fish, ₦3,500.00 from dried fish, and ₦5,200.00 from fried fish daily. However, inadequate processing equipment (95.0%), non-availability of credit facility from microfinance banks (85.0%), poor electricity supply (77.5%), inadequate extension service support (70.0%), and fuel scarcity (68.7%) were major constraints to fish processing in the study area. Results of chi-square analysis showed that there was a significant relationship between personal characteristics (χ2 = 36.83, df = 9), processing methods (χ2 = 15.88, df = 3) and income generated at p < 0.05 level of significance. It can be concluded that significant relationship existed between processing methods and income generated. The study, therefore, recommends that modern processing equipment should be made available to the respondents at a subsidized price by the agro-allied companies.

Keywords: correlates, income, fish processors, women, small-scale

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Authors: Taufik Mulyadin

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The tuition reform for public colleges that the Indonesian government initiated and has implemented since 2013 resulted in the growing number of college students from low-income families, many of whose parents did not attend college. This study sought to examine the experiences of persistence for Indonesian first-generation college students in public universities utilizing social capital as a framework. It is a qualitative study with a phenomenological approach primarily to capture the essence of how Indonesian first-generation college students interpret, process, and experience their persistence during college years. Fifteen Indonesian young college graduates were involved as well as questionnaire and interview were employed for data collection in this study. It revealed certain themes from the experiences that first-generation college students attributed to their persistence: (a) family encouragement, (b) support from friends, (c) guidance from faculty and staff, (d) fund of knowledge they bring with them, (e) financial aid availability, and (f) self-motivation. By examining first-generation college students’ voices, Indonesian public universities can better support, engage, and retain this group of students who were historically struggled to persist in college and complete their degree.

Keywords: first-generation student, Indonesian higher education, persistence, public universities

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Authors: Wei-Neng Wang, Jhy-Yuan Shieh, Jhy-Hwa Chen, Juin-Jen Chang

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This paper incorporate tax evasion into a one-sector real business cycle (RBC) model to explores the quantitative interrelations between income tax rate and equilibrium (in)determinacy, and income tax rate is endogenously determined in order to balance the government budget. We find that the level of the effective income tax rate is key factor for equilibrium (in)determinacy, instead of the level of income tax rate in a tax evasion economy. Under an economy with tax evasion, the higher income tax rate is not sufficiently to lead to equilibrium indeterminate, it must combine with a necessary condition which is the lower fraction of tax evasion and that can result in agents' optimistic expectations to become self-fulfilling and sunspot fluctuation more likely to occur. On the other hand, an economy with tax evasion can see its macroeconomy become more stabilize, and a higher fraction of income tax evasion may has a stronger stabilizing effect.

Keywords: tax evasion, balanced-budget rule, equlibirium (in)determinacy, effective income tax rate

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Authors: Li Sheng

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Based on an extended post-Keynesian model, we find that the association between the savings rate and income inequality is negative if savers’ funds are borrowed by spending households for consumption but positive if savings are channeled to investing firms for production. A negative association, such as the one that exists in the U.S., hinges on an income illusion created by an asset bubble and cheap credit. Thus, financial globalization leads consumption and income inequality to diverge, and the divergence is more extreme if lower-income groups have higher debt ratios. A positive association, such as the one that exists in China, relates to liquidity constraints faced by consumers such that consumption inequality closely follows income inequality. Our results imply that income inequality must be reduced in both types of countries to increase savings in deficit economies with negative associations and to reduce savings in surplus economies with positive associations.

Keywords: savings rate, income inequality, financial globalization, global imbalances

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Authors: Oladipo Joseph Ajayi, Yakubu Muhammed, Caleb Galadima

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This study was conducted to examine the income diversification of smallholder farmers in Bosso Local Government area of Niger state, Nigeria. The specific objectives were to examine the socio-economic characteristics of the farmers, identify the sources of income among the farmers, determine the pattern of income diversification and evaluate the determinants of income diversification of farmers in the study area. A multi-stage sampling technique was used to select 94 respondents for the study. Primary data were used, and these were collected with aid of a well structured interview schedule. Descriptive statistics, diversity index, and Tobit regression model were employed to analyze the data. The mean age of the farmers was 44 years. The average household size was 8 members per household, and the average farming experience was 12 years. 21.27 percent did not have formal education. It was further found that 69.1 percent of the respondents had an income diversity index of 0.3-0.4. This indicated that their level of income diversification was moderately low. The determinants of income diversification in the study area were education, household size, marital status, and primary income. These variables were positively related to income diversification. The study revealed that diversification into various income sources has helped to increase household income to sustain the family demands even though their level of income diversification was low within the study area.

Keywords: diversification, income, households, smallholder farmers

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Authors: Titus Wuyah Yunana

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This study analyzed the impact of commercial agricultural credit scheme on income of beneficiary farmers in Kaduna State using the Net farm income and double difference method. A questionnaire was used to source the data from 306 farmers comprising of 153 beneficiaries and 153 non-beneficiaries. The results indicated that the net farm income of the commercial agricultural credit scheme beneficiaries increases from N15,006,352.00 before scheme to N24,862,585.00 after the first and the second phases of the scheme. There was also an increase in the net farm income of the non-beneficiaries from N9, 670,385.40 to N14, 391,469.00 during the scheme. The double difference method analysis indicated a positive mean income difference value between beneficiaries and nonbeneficiaries after the first and the second phases of the scheme. The study recommends expansion in the number of beneficiaries and efficient allocation and utilization of the resources. The government should also introduce more programs that will assist the farmers to increase their productivity, income and the economy as a whole.

Keywords: agriculture, credit scheme, farmers, income, beneficiary

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Authors: Karolína Vozková, Matěj Kuc

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Net fee and commission income is one of the key elements of a bank’s core income. In the current low-interest rate environment, this type of income is gaining importance relative to net interest income. This paper analyses the effects of bank and country specific determinants of net fee and commission income on a set of cooperative banks from European countries in the 2007-2014 period. In order to do that, dynamic panel data methods (system Generalized Methods of Moments) were employed. Subsequently, alternative panel data methods were run as robustness checks of the analysis. Strong positive impact of bank concentration on the share of net fee and commission income was found, which proves that cooperative banks tend to display a higher share of fee income in less competitive markets. This is probably connected with the fact that they stick with their traditional deposit-taking and loan-providing model and fees on these services are driven down by the competitors. Moreover, compared to commercial banks, cooperatives do not expand heavily into non-traditional fee bearing services under competition and their overall fee income share is therefore decreasing with the increased competitiveness of the sector.

Keywords: cooperative banking, dynamic panel data models, net fee and commission income, system GMM

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Authors: Khet Raj Dahal, Dhruva Dhital, Chhatra Mani Sharma

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A study was conducted during 2012 to 2013 in the selected reach of Tinau River, Nepal. The main objective of the study was to quantify employment and income generation from the extraction of construction materials from the river. A 10 km stretch of the river was selected for the study. Sample survey with a semi-structured questionnaire and field observation were the main tools used during field investigation. Extraction of riverbed materials from the banks, beds and floodplain areas of the river has provided many kinds of job opportunities for the people living in the vicinity of the river. It has also generated an adequate amount of revenues. The collected revenue has been invested for many kinds of social and infrastructures development for years. Though extraction of riverbed materials is beneficial for income and employment generation, it has also negative environmental impacts in and around the river. Furthermore, the study concluded that river bed extraction should be continued with special monitoring and evaluation in the areas where there is still room for extraction.

Keywords: extraction, crusher plants, economic activities, Tinau River

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Authors: Munu Fritz-Austin Ndam

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Although the Cameroonian system of farming is considered as the first generation, the primary actors here involved have not yet understood the meaning of adding value to the product or produce they produce. The challenge here is for everyone who practices agriculture as an income generating activity in Cameroon to be able to understand the concept of value-added products and to know how to go about it. Recent studies have shown that these farmers who depend on agriculture as their main income generation activity make a great loss out of it because they don’t have the means to either transport their produce to the appropriate market, they don’t the knowledge on how to transform it, or they don’t have a means of conserving the product for a longer duration. It is important to note that after a thorough evaluation of the activity carried out, the final added value product sold is of great benefit not only to the producer but the buyer and the population at large. In my proposed prestation, I will discuss how the transformation activity will have a positive impact on the lives of farmers and the buyers and, most importantly, describe the methodology and procedure which is followed before the tubers (banana, Plantain, potato)is transformed into the finished or semi-finished product.

Keywords: transformation, sustainability, development, consumption

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Authors: Rahime Hülya Öztürk

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Along with the development of globalization, the relationship between economic, politic and commercial behaviors became unlimited. The liberalization of capital has many advantages for countries, but it also has some disadvantages. In these disadvantages the most important one is corruption. Especially in Developing Countries and Underdeveloped countries, corruption is very extensive. Corruption causes inefficient use of resources and promotes income inequality. Especially in the transition period of economies corruption increases and sometimes governments don’t interfere. To fight against corruption domestic and international measures are taken. Corruption is an economic problem, but it also has social and moral effects. The aim of this study is to define the relationship between corruption and income in Independent Turkish State. In the first part of the study, the concept of corruption is examined. In the second part of the study, information about The Independent Turkish Republic is given. In the third part of the study, country’s relationship between corruption and income is analyzed with panel data analysis.

Keywords: corruption, income, independent Turkish Republic, distribution of income

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Authors: Maciej Dudek, Robert Kruszewski, Janusz Kudla, Konrad Walczyk

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In this paper, we study how taxation of bequests affects human capital formation in the long term and short term horizon. Our underlying model is an overlapping generation model (OLG) with some degree of altruism on the part of the ancestors' generation towards their descendants. We ask the question in three separate frameworks. First, we study a simple one-sector model where a proxy of human capital is wage income. It the steady-state -for CRRA utility function and human capital produced with non-decreasing returns -the taxation of bequests is neutral to the accumulation of human capital. In the second framework, neutrality applies to the growth rates of human capital, physical capital, and consumption. In this case, taxation increases the level of bequests, leading to a lower value of current consumption. Finally in we consider two periods model instead of infinite horizon model as long as the tax revenue is at least partially rebated back to the public, the fraction of human capital engaged in the process of formation of human capital increases with the tax rate on bequests. In other words, taxation of bequests is partially offset by an increase in human capital formation. Higher human capital allows the future generation to earn higher wages, and today's generation can find it optimal to endow the future generation with more human capital when taxation is imposed on physical capital transferred to the next generation.

Keywords: taxation, bequests, policy, human capital

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Authors: Yu-Shan Hsu

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This paper studies a two-sector growth model with a technology of social constant returns and with a utility that features either a zero or a positive income effect on the demand for leisure. The purpose is to investigate how the existence of aggregate instability or equilibrium indeterminacy depends on both the intensity of the income effect on the demand for leisure and the value of the labor supply elasticity. The main finding is that when there is a factor intensity reversal between the private perspective and the social perspective, indeterminacy arises even if the utility has a positive income effect on leisure demand. Moreover, we find that a smaller value of the labor supply elasticity increases the range of the income effect on leisure demand and thus increases the possibility of equilibrium indeterminacy. JEL classification: E3; O41

Keywords: indeterminacy, non-separable preferences, income effect, labor supply elasticity

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Authors: Kong Wing Man

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The purpose of this paper is to review the waste generation and management in different parts of the world. It is undeniable that waste generation and management has become an alarming environmental issue. Solid waste generation links inextricably to the degree of industrialization and economic development. Urbanization increases with the economic wealth of the countries. As the income of people and standard of living enhances, so does their consumption of goods and services, leading to a corresponding increase in waste generation. Based on the latest statistics from What A Waste Report published by World Bank (2012), it is estimated that the current global Municipal Solid Waste (MSW) generation levels are about 1.3 billion tonnes per year (1.2 kg per capita per day). By 2050, it is projected that the waste generation will be doubled. Although many waste collection practices have been implemented in various countries, the amount of waste generation keeps increasing. An integrated solid waste management is needed in order to reduce the continuous significant increase in waste generation rates. Although many countries have introduced and implemented the 3Rs strategy and landfill, however, these are only the ways to diverse waste, but cannot reduce the volume. Instead, the advanced thermal treatment technology, incineration, can reduce up to 90% volume of disposed waste prior to dispose at landfills is discussed. Sweden and Tokyo were chosen as case studies, which provide an overview of the municipal solid waste management system. With the condition of escalating amount of wastes generated, it is crucial to build incinerators to relief pressing needs of landfill. Two solutions are proposed to minimize waste generation, including one incineration in one city and several small incinerators in different cities. While taking into consideration of a sustainable model and the perspectives of all stakeholders, building several incinerators at different cities and different sizes would be the best option to reduce waste. Overall, the solution to the global solid waste management should be a holistic approach with the involvement of both government and citizens.

Keywords: Incineration, Municipal Solid Waste, Thermal Treatment, Waste generation

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Authors: Feddaoui Amina

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Income smoothing represents an attempt on the part of the company's management to reduce variations in earnings through the manipulation of the accounting principles. In this study, we aimed to measure income smoothing practices in a sample of 30 French joint stock companies during the period (2007-2009), we used Dummy variables method and “ECKEL” model to measure income smoothing practices and Binomial test accourding to SPSS program, to confirm or refute our hypothesis. This study concluded that there are no significant statistical indicators of income smoothing practices in the sample studied of French companies during the period (2007-2009), so the income series in the same sample studied of is characterized by stability and non-volatility without any intervention of management through accounting manipulation. However, this type of accounting manipulation should be taken into account and efforts should be made by control bodies to apply Eckel model and generalize its use at the global level.

Keywords: income, smoothing, 'Eckel', French companies

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Authors: Sahin Emrah Amrahov, Fatih Aybar, Serhat Dogan

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In this paper we consider the rule reduct generation problem. Rule Reduct Generation (RG) and Modified Rule Generation (MRG) algorithms, that are used to solve this problem, are well-known. Alternative to these algorithms, we develop Pruning Rule Generation (PRG) algorithm. We compare the PRG algorithm with RG and MRG.

Keywords: rough sets, decision rules, rule induction, classification

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Authors: Hamid Boustanifar, Geraldo Cerqueiro, María Fabiana Penas

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We exploit state-level changes in the amount of personal wealth individuals can protect under Chapter 7 to analyze the causal effect of debtor protection on income inequality. We find that an increase in state exemptions significantly increases inequality by reducing income for low-income individuals and by increasing income for high-income individuals. The increase in inequality is four times larger among the self-employed than among wage earners, and it is due mainly to a growing income gap between skilled (i.e., individuals with a college degree) and unskilled entrepreneurs. We also find that the employment rate of skilled entrepreneurs significantly increases, while the employment rate of unskilled wage earners falls. Our results are consistent with a recent literature that shows that higher exemptions redistribute credit from low-wealth to high-wealth entrepreneurs, affecting the performance of their businesses.

Keywords: debtor protection, credit markets, income inequality, debtor protection laws

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Authors: Wondmnew Derebe

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Increased adoption of modern beehives improves the livelihood of smallholder farmers whose income largely depends on mixed crop-livestock farming. Improved beehives have been disseminated to farmers in many parts of Ethiopia. However, its impact on income is less investigated. Thus, this study estimates how adopting improved beehives impacts rural households' income. Survey data were collected from 350 randomly selected households' and analyzed using an endogenous switching regression model. The result revealed that the adoption of improved beehives is associated with a higher annual income. On average, improved beehive adopters earned about 6,077 (ETB) more money than their counterparts. However, the impact of adoption would have been larger for actual non-adopters, as reflected in the negative transitional heterogeneity effect of 1792 (ETB). The result also indicated that the decision to adopt or not to adopt improved beehives was subjected to individual self-selection. Improved beehive adoption can increase farmers' income and can be used as an alternative poverty reduction strategy.

Keywords: impact, adoption, endogenous switching regression, income, improved

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Authors: Rodrigo Calili, Anna Carolina Sermarini, João Henrique Azevedo, Vanessa Cardoso de Albuquerque, Felipe Gonçalves, Gilberto Jannuzzi

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The diffusion of Distributed Energy Resources (DER) has caused structural changes in the relationship between consumers and electrical systems. The Photovoltaic Distributed Generation (PVDG), in particular, is an essential strategy for achieving the 2030 Agenda goals, especially SDG 7 and SDG 13. However, it is observed that most projects involving this technology in Brazil are restricted to the wealthiest classes of society, not yet reaching the low-income population, aligned with theories of energy justice. Considering the research for energy equality, one of the policies adopted by governments is the social electricity tariff (SET), which provides discounts on energy tariffs/bills. However, just granting this benefit may not be effective, and it is possible to merge it with DER technologies, such as the PVDG. Thus, this work aims to evaluate the economic viability of the policy to replace the social electricity tariff (the current policy aimed at the low-income population in Brazil) by PVDG projects. To this end, a proprietary methodology was developed that included: mapping the stakeholders, identifying critical variables, simulating policy options, and carrying out an analysis in the Brazilian context. The simulation answered two key questions: in which municipalities low-income consumers would have lower bills with PVDG compared to SET; which consumers in a given city would have increased subsidies, which are now provided for solar energy in Brazil and for the social tariff. An economic model was created for verifying the feasibility of the proposed policy in each municipality in the country, considering geographic issues (tariff of a particular distribution utility, radiation from a specific location, etc.). To validate these results, four sensitivity analyzes were performed: variation of the simultaneity factor between generation and consumption, variation of the tariff readjustment rate, zeroing CAPEX, and exemption from state tax. The behind-the-meter modality of generation proved to be more promising than the construction of a shared plant. However, although the behind-the-meter modality presents better results than the shared plant, there is a greater complexity in adopting this modality due to issues related to the infrastructure of the most vulnerable communities (e.g., precarious electrical networks, need to reinforce roofs). Considering the shared power plant modality, many opportunities are still envisaged since the risk of investing in such a policy can be mitigated. Furthermore, this modality can be an alternative due to the mitigation of the risk of default, as it allows greater control of users and facilitates the process of operation and maintenance. Finally, it was also found, that in some regions of Brazil, the continuity of the SET presents more economic benefits than its replacement by PVDG. However, the proposed policy offers many opportunities. For future works, the model may include other parameters, such as cost with low-income populations’ engagement, and business risk. In addition, other renewable sources of distributed generation can be studied for this purpose.

Keywords: low income, subsidy policy, distributed energy resources, energy justice

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Authors: Quang Dong Dang

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This paper examines the possible effects of stock market developments by channels on income and wealth inequality. We use the Bayesian Multilevel Model with the explanatory variables of the market’s channels, such as accessibility, efficiency, and market health in six selected countries: the US, UK, Japan, Vietnam, Thailand, and Malaysia. We found that generally, the improvements in the stock market alleviate income inequality. However, stock market expansions in higher-income countries are likely to trigger income inequality. We also found that while enhancing the quality of channels of the stock market has counter-effects on wealth equality distributions, open accessibilities help reduce wealth inequality distributions within the scope of the study. In addition, the inverted U-shaped hypothesis seems not to be valid in six selected countries between the period from 2006 to 2020.

Keywords: Bayesian multilevel model, income inequality, inverted u-shaped hypothesis, stock market development, wealth inequality

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Authors: Philip Katz

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The research examines preferred reading of contemporary ads aimed at Generation Z through digital media. A qualitative analysis of focus groups consisting of members of Generation Z from 13 countries in Europe, the Middle East, South America and Asia has shown that, among this cohort, the influence of national culture does not create a strong impediment to understanding media communications targeting Generation Z. The familiarity of members of Generation Z with other countries’ popular culture through the spread of digital media has allowed a homogenizing effect and allowed a greater understanding of those cultures among this generation that lessens the impact of geographic separation.

Keywords: audience, Generation Z, marketing communication, preferred reading

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Authors: Hasan Bulent Kantarci

Abstract:

This paper examine how Zakat provide a fair income redistribution and struggle with poverty. To provide a fair income redistribution and struggle with poverty take place among the fundamental tasks of all countries. Each country seeks a solution for this problem according to their political, economical and administrative styles through applying various economic and financial policies. The same situation gets handled via zakat association in the Islam. Nowadays, we observe different versions of zakat in developed countries. The applications such as negative income tax denote merely a difference from the zakat being applied almost the same way under changed names. But the minimum values to donate the zakat (e.g. 85 gr. gold and 40 animals) get altered and various amounts are put into practice. It might be named as negative income tax instead of zakat, nonetheless, these applications are based on the Holy Koran and the hadith released 1400 years ago. Besides, considering the savage and slavery in the world at those times, we might easily recognize the true value of the zakat applied the first time then in Islamic system. Through zakat is enabled an income transfer by the government so that the poor could reach the minimum level of life standard. To whom the zakat would be donated was not left to people’s heart and encouraged to determine according to objective criteria. Since the zakat is obligatory, the transfer do not get forward by hand but via the government and get distributed, which requires a vast government organization. Through applying the zakat as it must be would achieve to reduce the poverty mostly and ensuring the fair income redistribution.

Keywords: Islamic finance, zakat, income redistribution, circle of poverty, negatif income tax

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Authors: Vasiliki A. Tzora, Nikolaos D. Philippas

Abstract:

The paper measures the financial literacy of youth in Greece derived from the examined aspects of financial knowledge, behaviours, and attitudes that high school students performed. The findings reveal that less than half of participant high school students have an acceptable level of financial literacy. Also, students who are in the top of their class cohort exhibit higher levels of financial literacy. We also find that the father’s education level has a significant effect on financial literacy. Students who keep records of their income and expenses are likely to show better levels of financial literacy than students who do not. Students’ perception/estimation of their parents’ income changes is also related to their levels of financial literacy. We conclude that financial education initiatives should be embedded in schools in order to embrace the young generation.

Keywords: financial literacy, financial knowledge, financial behaviour, financial attitude, financial wellbeing, 15-year-old students

Procedia PDF Downloads 98