Faced with a persistent pandemic,investors are concerned about portfolio diversification.While the literature on COVID-19 has evolved impressively,limited work remains on diversification opportunities.We contribute to...Faced with a persistent pandemic,investors are concerned about portfolio diversification.While the literature on COVID-19 has evolved impressively,limited work remains on diversification opportunities.We contribute to the literature by exploring the volatility and co-movement of different sovereign debt instruments,including green sukuk,sukuk,bond and Islamic and conventional equity indices for Indonesia.Our results consistently point towards increased asset co-movement and weak profitability during the pandemic.Interestingly,sukuk and green sukuk have a 14%correlation with stocks,suggesting potential diversification prospects in times of extreme shocks.展开更多
We use a highly disaggregated panel of macro data and minimum wages at the county level to investigate the processes behind minimum wage adjustments in China.Relying on random effects models,spatial econometrics techn...We use a highly disaggregated panel of macro data and minimum wages at the county level to investigate the processes behind minimum wage adjustments in China.Relying on random effects models,spatial econometrics techniques,and multilevel analyses,we document that a comparatively small number of economic variables-including the local price level and GDP per capita-are important determinants of minimum wage rates.Interactions between adjacent counties and counties of the same administrative type,and centralized mechanisms,particularly at the provincial level,also play an important role in explaining the variance in minimum wage rates across counties.Finally,we show that China's provinces are the key players for setting minimum wage rates and that,when they do so,they are not uniform in the way they weigh different economic variables.展开更多
文摘Faced with a persistent pandemic,investors are concerned about portfolio diversification.While the literature on COVID-19 has evolved impressively,limited work remains on diversification opportunities.We contribute to the literature by exploring the volatility and co-movement of different sovereign debt instruments,including green sukuk,sukuk,bond and Islamic and conventional equity indices for Indonesia.Our results consistently point towards increased asset co-movement and weak profitability during the pandemic.Interestingly,sukuk and green sukuk have a 14%correlation with stocks,suggesting potential diversification prospects in times of extreme shocks.
基金Findings,interpretations,and conclusions expressed in this paper are those of the authors and do not necessarily represent the views of the Nordic Trust Fund,the World Bank,its affiliated organizations,its executive directors,or the governments these represent.'For China,studies that explore the effects of minimum wages on wages,employment,and other outcome variables include those by Huang et al.(2014),Lin and Yun(2016),and Demurger et al.(2021).
文摘We use a highly disaggregated panel of macro data and minimum wages at the county level to investigate the processes behind minimum wage adjustments in China.Relying on random effects models,spatial econometrics techniques,and multilevel analyses,we document that a comparatively small number of economic variables-including the local price level and GDP per capita-are important determinants of minimum wage rates.Interactions between adjacent counties and counties of the same administrative type,and centralized mechanisms,particularly at the provincial level,also play an important role in explaining the variance in minimum wage rates across counties.Finally,we show that China's provinces are the key players for setting minimum wage rates and that,when they do so,they are not uniform in the way they weigh different economic variables.
