Browsing by Subject "511 Economics"

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  • Minzoni, Angela; Mounoud, Eleonore; Niskanen, Vesa A. (IEEE, 2017)
    International Conference on Cognitive Infocommunications
    Temporal issues within modeling organizational systems are examined generally and with fuzzy cognitive maps. These maps give the opportunity to consider temporal factors when studying organizational models. The knowledge we gain about the system is useful when the aim is not to optimize time intervals in well-known and instrumented contexts, but also to discover the behavior of the system while different temporal factors are implemented by the management. We will present an adapted resolution for including these factors as key elements in organizational models with fuzzy cognitive map examples for middle and back office application.
  • Lanne, Markku; Luoto, Jani Pentti (2019)
    Franses (Empir Econ, 2018. ) criticised the practice in the empirical literature of replacing expected inflation by the sum of realised future inflation and an error in estimating the parameters of the new Keynesian Phillips curve (NKPC). In particular, he argued that this assumption goes against the Wold decomposition theorem and makes the error term in the hybrid NKPC equation correlated with future inflation, invalidating the maximum likelihood (ML) estimator of Lanne and Luoto (J Econ Dyn Control 37:561-570, 2013). We argue that despite the correlation, the Wold theorem is not violated, and the ML estimator is consistent.
  • Kylkilahti, Eliisa; Berghäll, Sami; Autio, Minna; Nurminen, Jonne; Toivonen, Ritva; Lähtinen, Katja; Vihemäki, Heini; Franzini, Florencia; Toppinen, Anne (2020)
    Consumer acceptance of new bio-based products plays a key role in the envisioned transition towards a forest-based bioeconomy. Multi-storey wooden buildings (MSWB) exemplify a modern, bio-based business opportunity for enacting low-carbon urban housing. However, there is limited knowledge about the differing perceptions consumers hold regarding wood as an urban building material. To fill this gap, this study explores Finnish students' perceptions of MSWB relative to their familiarity with wooden residential buildings, and then connects these perceptions to 'consumption styles.' Data were collected in the Helsinki metropolitan area via an online questionnaire (n = 531). The results indicate that the aesthetic appearance of MSWB are appreciated most by frugal and responsible consumers, whereas the comfort, environmental friendliness, and longevity of MSWB are important to consumers who identify themselves as 'thoughtful spenders.' The study suggests that both environmental and hedonic young consumers already familiar with the use of wood in housing contribute to a successful bioeconomy in the urban context.
  • Kotilainen, Konsta (2022)
    The increasingly influential neochartalist Modern Monetary Theory (MMT) comes with a nation-state-centric framing of politics. The neochartalists argue that many alleged globalisation-related constraints on national economic policy are illusory or seriously overstated. In their view, monetarily sovereign states enjoy substantial autonomy over their fiscal and monetary policy decisions. The neochartalist diagnosis thus seems to undermine cosmopolitan calls for supranational forms of macroeconomic governance. However, this paper argues that if we pay serious attention to a range of subtler obstacles and strategic incentives that apply especially to small currency-issuing states, cosmopolitan aspirations remain well-motivated. Accordingly, the political implications of MMT are reexamined and a case for supranational exercise of monetary sovereignty is made. The paper goes on to demonstrate how the standard state-centric approach to currency privileges can prove counterproductive from the perspective of democratic governance. It is concluded that neochartalism and cosmopolitanism can fruitfully both correct and enrich each other.
  • Fougére, Martin; Segercrantz, Beata Ulrica; Seeck, Hannele (2017)
    In this article, we conduct a critical reading of the European Union social innovation policy discourse. We argue that rather than being a transformative discourse within European Union policy, European Union social innovation policy discourse reinforces neoliberal hegemony by (re)legitimizing it. Inspired by post-foundational discourse theory and Glynos and Howarth’s logics of critical explanation, we analyse three central European Union social innovation policy documents. We characterize what kind of political project is articulated in and through European Union social innovation policy discourse, and uncover how it relates to neoliberal political rationality. Our contribution lies in showing (1) how the social logics of European Union social innovation policy can be understood as both ‘roll-out’ and ‘roll-with-it’ neoliberalization, thereby relegitimizing and naturalizing neoliberalism; (2) how the political logics of European Union social innovation policy pre-empt the critique of ‘roll-back’ neoliberalization and thus legitimize decreased public expenditure; and (3) how the fantasmatic logics make European Union social innovation policy ideologically useful in relegitimizing neoliberalism through the win-win-win fantasy and the ethical responsibilization of subjects. We argue that resisting the neoliberalizing power of European Union social innovation policy discourse implies resisting the fantasmatic grip of social innovation as carrying a sublime win-win-win. Instead of accepting social innovation as driven by a replication of best practices, we need to understand social innovations as conceived and suited for particular social issues in particular contexts: we call for a different win-win mindset that does not blind innovators to possible negative impacts of social innovations.
  • Losada, Fernando (2020)
    This article proposes a debt‐based narrative able to explain both structural and substantive changes in European integration. The narrative results from a study of the dynamics of three different sources of external debt —cross‐border trade, sovereign debt and direct debt relations between member states– in the context of the successive stages of macroeconomic integration. The outcome is the identification of three cumulative orders of debt relations that can reveal the main features of the concrete constellation of power corresponding to each of those stages. Hence, cross‐border trade was decisive during the decades of monetary cooperation. Once the European Monetary Union was agreed in Maastricht, sovereign debt, as perceived by market actors, played the key role. Finally, since the sovereign debt crisis direct debt relations between member states are essential. The EU institutional system has accordingly adapted to these different constellations and nowadays guarantees the full repayment of debts to fellow member states.
  • D'amato, Dalia; Gaio, Marco; Semenzin, Elena (2020)
    The emergence of politically driven bioeconomy strategies worldwide calls for considering the ecological issues associated with bio-based products. Traditionally, life cycle analysis (LCA) approaches are key tools used to assess impacts through product life cycles, but they present limitations regarding the accounting of multiple ecosystem service-related issues, at both the land-use and supply chain levels. Based on a systematic review of empirical articles, this study provides insights on using LCA assessments to account for ecosystem service-related impacts in the context of bioeconomy activities. We address the following research questions: what is the state of the art of the literature performing LCA assessments of forest-based bioeconomy activities, including the temporal distribution, the geographic areas and products/processes at study, and the approaches and methods used? 2. Which impacts and related midpoints are considered by the reviewed studies and what types of ecosystem service- related information do they bear? Out of over 600 articles found through the Scopus search, 155 were deemed relevant for the review. The literature focuses on North-America and Europe. Most of the articles assessed the environmental impact of lower-value biomass uses. Climate change was assessed in over 90% of the studies, while issues related to ozone, eutrophication, human toxicity, resource depletion, acidification, and environmental toxicity were assessed in 40% to 60% of the studies. While the impact categories accounted for in the reviewed LCA studies bear information relevant to certain provisioning and regulating services, several ecosystem services (especially cultural ones) remain unaccounted for. The implications of our study are relevant for professionals working in the ecosystem services, circular bioeconomy, and/or LCA communities. (C) 2019 The Authors. Published by Elsevier B.V.
  • Nokkala, Ere (Routledge, 2019)
    Enlightenment World-Political and Intellectual History of the Long Eighteenth Century
  • Heffron, Raphael J.; Ronne, Anita; Tomain, Joseph P.; Bradbrook, Adrian; Talus, Kim Patrik (2018)
    It is now over 20 years since the seminal paper on energy law as a discipline was published. The aim of this article is to review what currently constitutes energy law after this 20-year hiatus. There are two main ambitions of this article, which we hope will have a similar impact on the field. The first is to develop for scholars and practitioners a view of what constitutes energy law-and to make this accessible to both law and non-law energy scholars. The second is to advance a set of core principles that guide energy law, in essence a treatise for energy law. We advocate for a paradigm shift in our current understanding of what constitutes energy law. We advance that it should revolve around this set of guiding principles; however, we acknowledge that to some degree it is perhaps not a paradigm shift due to the current absence of any core principles of energy law. Nevertheless we argue that in our advancing of a guiding set of principles we set out a new path for the study of energy law and thus we aim to change what constitutes energy law and challenge the assumptions of existing researchers as globally society moves towards a transition to low-carbon economies.
  • Gehrig, Thomas; Shy, Oz; Stenbacka, Rune (Springer, 2012)
  • Vinnari, Eija; Vinnari, Markus Valtteri (Routledge, 2021)
  • Heikkurinen, Pasi; Lozanoska, Jana; Tosi, Pierre (2019)
    Hannah Arendt's three-fold conceptualization of human activity offers a useful base for understanding the necessity of degrowth and the kinds of activities required to achieve it. The article argues that the different roles of labour, work, and action should be acknowledged and scrutinized in detail to appreciate the underpinnings of contemporary over-production and over-consumption, as well as to prompt the organization of an alternative society. While following the Arendtian analysis on the origins of meaningful political change, which emphasizes the utmost importance of 'action', the article also underscores the importance of a different conception of 'labour' through physical activity, such as community supported agriculture, and 'work' through social activity such as building off-grid energy systems. The study aligns itself with Arendt's key insight that the origin of most contemporary problems relates to the disappearance of 'action', which for her is political, but also argues that the distinction between 'paid' and 'non-paid' activity has to be carefully considered in the context of degrowth. The article concludes that non-paid activities, particularly in the form of Arendtian 'action', have great potential to contribute to the degrowth movement. Demonetized activities are important for degrowth, as monetary transactions in capitalist societies based on interest and debt tend to contribute to economic growth, which is deemed ecologically unsustainable. (C) 2018 Elsevier Ltd. All rights reserved.
  • Korhonen, Jaana; Giurca, Alexandru; Brockhaus, Maria; Toppinen, Anne (2018)
    To foster innovativeness for supporting (forest-based) bioeconomy development, participation in decision-making and interaction between diverse actors become a necessary precondition for designing and implementing transition policies. However, who forms the emerging policy networks, and which policy beliefs are promoted? Based on data from a national online survey, we performed a quantitative social network analysis to investigate emerging social structures and policy beliefs in the context of the Finnish forest-based bioeconomy. Our explorative analysis shows that research, governmental, and industrial organizations mainly constitute the Finnish forest-based bioeconomy network. Actors primarily exchange information, and most key organizations report high levels of trust among each other. However, the network structure is rather closed. This raises concerns about equal benefit sharing and the inclusiveness of concerned actors. We discuss the implication of this network structure for enabling new innovations. Finally, we present the key aspects and drivers of business as usual, and suggest an option for or a more transformative change in the Finnish forest-based bioeconomy.
  • Ingutia, Rose Anyiko; Rezitis, Anthony; Sumelius, John (Nova Science Publishers, 2021)
    How is Africa performing in leaving no child behind in poverty? Disparities exist in child poverty issues across countries: millions of children’s lives are blighted for no other reason than the country, the community, the gender, or the circumstances into which they are born. Due to uneven progress, we compared under-five mortality rates (U5MR), primary school enrolment (PSE), and child underweight (CU) across country clusters of low and middle income, and low U5MR and high U5MR in Africa. Endogeneity issues led to the use of Three Stages Least Squares simultaneous equations, and we applied elasticity to allow direct comparisons between elasticities across country clusters. African countries in low income and high U5MR clusters are far from leaving no child behind. These clusters display common causes of child poverty, including low gender parity index, low PSE, high CU, high numbers of out-of-school children, and poor governance. The estimated elasticities indicate that ethnolinguistic fractionalisation (women’s access to credit) and CU have the greatest effect on U5MR (child poverty), while crop production index (CPI), U5MR and CU have the greatest effect on PSE. CPI and female enrolment in secondary and vocational school have the greatest effect on CU. These findings imply that economic and social policies should consider allocating more resources to low-income and high-U5MR countries. Furthermore, the results tend to point to agriculture as a solution to child poverty issues in Africa. This occurs through an enabling environment for women in agriculture to access productive resources
  • Barnes, Helen; Espi-Sanchis, Gabriel; Leibbrandt, Murray; McLennan, David; Noble, Michael; Pirttilä, Jukka; Steyn, Wynnona; Van Vrede, Brenton; Wright, Gemma (2021)
  • Juurikkala, Oskari (2010)
    Book review of Animal spirits : how human psychology drives the economy, and why it matters for global capitalism / George A. Akerlof and Robert J. Shiller. (Princeton: Princeton University Press, 2009.)
  • Gould, Jeremy; Siitonen, Lauri; Global Development Studies (University of Helsinki, Institute of Development Studies, 2007)
    Interkont books
  • Lukkarinen, Jani Markus; Pakkanen, Mikko Sakari (2017)