The Effect of Covid-19 on Unemployment and Price Changes in Ethiopia: Evidence from Woldia Town “Does the Downward Sloping Philips Curve Hold True”
Issue:
Volume 9, Issue 4, December 2020
Pages:
73-78
Received:
9 October 2020
Accepted:
26 October 2020
Published:
23 November 2020
Abstract: The massive spread of corona creates pressure on the general systems of the world countries. As stated in some studies corona virus affect every institution and individuals of the world in many aspects. Specifically it results in high unemployment, low level of production and significance rise in the nominal price of commodities. This study tries to explain the change in those economic variables to analyze the effect of Covid-19 on the living standard of households in Woldia town, Amhara regional state of Ethiopia using a data obtained from the north wollo zone planning commission which had been collected from sampled individuals monthly. Since the issue is so recent and absence of many conducted researches on this area, this article have no specific chapter for review of literature and gives more focus for data analysis part. Then descriptive analysis indicates the presence of valuable rise in unemployment and average price levels simultaneously and the OLS regression result disproved the applicability of Philips curve for the study area under the influence of COVID-19. While it emerged from animal hosts, currently COVID-19 continues to spread across the globe through human-to-human contact. It resulted in many socio economy impacts on the world society and deteriorates their day to day activities. Unemployment is the major manifestation of COVID-19 due quarantine requirement designed to control the spread of the virus and this indirectly creates high level of increments in the average price of consumer necessity goods. As per the descriptive and econometric analysis of this study there is high unemployment and rise in average price at a time opposed to the assumption of Philips curve.
Abstract: The massive spread of corona creates pressure on the general systems of the world countries. As stated in some studies corona virus affect every institution and individuals of the world in many aspects. Specifically it results in high unemployment, low level of production and significance rise in the nominal price of commodities. This study tries t...
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Research on the Influence of Information Accuracy on the Coupon Rate of Local Government Special Bonds in China
Issue:
Volume 9, Issue 4, December 2020
Pages:
79-85
Received:
15 November 2020
Accepted:
26 November 2020
Published:
4 December 2020
Abstract: The pilot policy of revenue bonds for special project implemented in June 2017 is essentially a transition from "packaged issuance" to "unpacked issuance", which has improved the information accuracy in terms of identifying municipal and county local governments in China. In order to examine the impact of information accuracy on the coupon rate of local government special bonds, this paper regards the pilot policy as a quasi-natural experiment and conducts an empirical study by using the propensity score matching method. The empirical conclusions show that the increased accuracy of information due to the pilot policy has significantly increased the coupon rate of China’s local government special bonds. However, increasing the information accuracy blindly may trigger the "Matthew Effect" and increase the financing costs of local governments continuously, which is not conducive to the sustainable development of China’s local government special bonds. Therefore, it is necessary to strengthen the management of optimal information accuracy and increase the intensity of information disclosure, so as to realize the financing restriction mechanism of China’s local government special bonds market under the balance of the interests between market entities and the government.
Abstract: The pilot policy of revenue bonds for special project implemented in June 2017 is essentially a transition from "packaged issuance" to "unpacked issuance", which has improved the information accuracy in terms of identifying municipal and county local governments in China. In order to examine the impact of information accuracy on the coupon rate of ...
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