Tag: EU

MACROECONOMIC EFFECTS OF TELEWORKING IN EU27: STOCHASTIC FRONTIER APPROACH

Lena MALEŠEVIĆ PEROVIĆ

Full professor, University of Split, Faculty of Economics, Business and Tourism, Split, Croatia and CERGE-EI Teaching Fellow

lena@efst.hr

Abstract

The main aim of this paper is to investigate macroeconomic effects of teleworking during the COVID-19 pandemic, using an atypical approach. We apply stochastic frontier analysis to a Cobb-Douglas production function broadened with teleworkability variable, and analyse the level of (in)efficiency of EU27 countries in producing their GDPs. We find that increasing the percentage of jobs that can be done at home by 1 percentage point reduces the level of technical inefficiency by 3.5%. Additionally, we use a unique e-survey conducted in April and May of 2020, which provides the data on the share of people who started working from home as a results of a COVID-19 situation, and combine it with the teleworkability variable. Overall, our findings suggest that more developed EU countries have a higher share of teleworkable jobs, which in turn reduces their inefficiencies, and furthermore results in more people beginning to work from home in the pandemic. 

Keywords: teleworking, production function, stochastic frontier analysis, EU, COVID-19

JEL classification: C21, O4, O33, O52

 pp. 33-42

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INVESTIGATING THE IMPACT OF ATM AND POS TERMINALS ON MONEY DEMAND IN NINE EUROPEAN COUNTRIES IN THE CONTEXT OF A RANDOM EFFECT MODEL AS THE APPROPRIATE PANEL DATA MODEL

Payam MOHAMMAD ALIHA

Ph.D student, Universiti Kebangsaan Malaysia (UKM), Malaysia

payammaliha@gmail.com

Tamat SARMIDI

Associate Professor Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

tamat@ukm.edu.my

Fathin FAIZAH SAID

Associate Professor Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

fatin@ukm.edu.my

Abstract

This study investigates the effects of financial innovations on the demand for money using panel data for 9 European countries from 2014 to 2018. Such models assist in controlling for unobserved heterogeneity when this heterogeneity is constant over time and correlated (fixed effects) or uncorrelated (random effects) with independent variables. Hausman test and Breusch and Pagan Lagrangian multiplier test (LM) both indicate that the random effects model is appropriate. We use the conventional money demand that is enriched with the number of automated teller machines (ATM) and the number of point-of-sale (POS) terminals to proxy for the financial innovations. The estimation result of the chosen random effects regression indicate that the elasticity of the demand for real money to POS is about 10 percent meaning that money demand is not elastic with regard to POS. Also, the estimated coefficient of ATM is not significant.

Keywords: EU, money demand, random effects, fixed effects, financial innovation, panel data

JEL classification: C13, C40, C51, E40, E44

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MAPPING THE SECTORAL CONCENTRATION OF THE WORKFORCE ACROSS EU REGIONS, 2009-2013

Emily VGENOPOULOU

Athens University of Economics and Business

George ECONOMOU

Athens University of Economics and Business

Pródromos PRODROMÍDIS

Athens University of Economics and Business, Centre for Planning and Economic Research, Postal address: KEPE, 11 Amerikis str., Athens 15342, Greece.
pjprodr@kepe.gr
(Corresponding author)

Abstract
The paper explores the evolution of the sectoral concentration of regional workforces across the EU’s 272 NUTS level II territories and 42 territories of associated countries in the wake of the international financial and economic crisis (2009) up to 2013 through the use of location quotients (27.5 thousand computations). Bird’s eye views of the findings, in the form of maps, are attached.
Keywords: Territorial sector concentration, location quotient, specialization and localization, regional workforce, EU
JEL classification: R12
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