US state-level economic freedom during the COVID-19 pandemic

The COVID-19 pandemic led to extensive new government regulations and lockdown policies that significantly reduced economic freedom across US states. Many of these new pandemic-related regulatory restrictions on economic freedom varied significantly from state to state but are largely missed by the existing Economic Freedom of North America Report (EFNA). This paper adjusts the Our World in Data COVID-19 Stringency Index into a state-level measure of lockdown regulatory freedom and then merges it into the EFNA index to better measure relative economic freedom across US states in 2020. We find significant differences in the relative ranking of economic freedom between states once we adjust for lockdown regulatory restrictions.     

Board gender composition,board independence and sustainable supply chain responsibility

The consideration of social and environmental factors in companies’ supply chain is a prevalent research topic because stakeholders are now inquisitive about the social and environmental impacts of companies’ suppliers. Using a sample of S&P 500 firms, we find that board gender composition and board independence are positively associated with sustainable supply chain responsibility (SSCR). We also identify three channels (CEO duality, sustainability committee and sensitive industries) through which board gender composition and board independence affect SSCR, where board gender composition consistently explains SSCR, but the effect of board independence is less pronounced in firms with CEO duality and firms with a sustainability committee. Finally, we explore the reason for the less-pronounced findings for board independence in our subsample analyses and find that, compared with independent female directors who continue to display significant associations with SSCR, independent male directors do not engender SSCR across the three subsample tests.     

Effects of treatment beyond the treated: a general equilibrium impact evaluation of Lesotho's cash grants program

Africa's social cash transfer programs target the most resource‐constrained households, unlikely to expand supply in response to transfer‐induced demand. We propose a local economy‐wide impact evaluation model and use it to evaluate local spillovers from Lesotho's Child Grants Program. We report Monte‐Carlo confidence bounds around impact‐simulation results. We find significant spillovers to nonrecipient households and significant real income multipliers, although the latter are dampened if factor supply constraints generate excessive inflationary pressures. Our findings raise questions about how to measure the impacts of cash transfers. Evaluations focusing only on eligible households are likely to significantly understate program impacts.     

Farm work, off-farm work, and hired farm labour: estimating a discrete-choice model of French farm couples' labour decisions

We model jointly several types of discrete-choice labour decisionsof farm couples: farm work, off-farm work and hired farm labour.Rather than estimating a set of reduced-form participation equationsthat is subject to an internal inconsistency problem, we estimatea 16-choice multinomial model. We find that farm labour of operatorsand of spouses are substitutes. Hired farm labour increaseswith the farmer's qualifications, perhaps substituting for thecouple's labour inputs. Other adults in the household substitutefor the farm labour input of the farm couple and hired workers.We find that the organisation of work by French farm householdshas changed over time, in the direction of a more equal sharingof tasks and responsibilities between members of the farm family.     

Mitigation potential and costs for global agricultural greenhouse gas emissions1

Agricultural activities are a substantial contributor to global greenhouse gas (GHG) emissions, accounting for about 58% of the world's anthropogenic non‐carbon dioxide GHG emissions and 14% of all anthropogenic GHG emissions, and agriculture is often viewed as a potential source of relatively low‐cost emissions reductions. We estimate the costs of GHG mitigation for 36 world agricultural regions for the 2000–2020 period, taking into account net GHG reductions, yield effects, livestock productivity effects, commodity prices, labor requirements, and capital costs where appropriate. For croplands and rice cultivation, we use biophysical, process‐based models (DAYCENT and DNDC) to capture the net GHG and yield effects of baseline and mitigation scenarios for different world regions. For the livestock sector, we use information from the literature on key mitigation options and apply the mitigation options to emission baselines compiled by EPA.     

Locational-based coupling of electricity markets: benefits from coordinating unit commitment and balancing markets

We estimate the benefits of electricity locational marginal pricing (LMP) that arise from better coordination of day-ahead commitment decisions and real-time balancing markets in adjacent power markets when there is significant uncertainty in demand and wind forecasts. To do so, we formulate a series of stochastic models for committing and then dispatching electric generators subject to transmission limits. In the unit commitment stage, the models optimise day-ahead generation schedules under either the full set of network constraints or a simplified net transfer capacity (NTC) constraint, where the latter represents the present approach for limiting forward electricity trade in Europe. A subsequent redispatch model then creates feasible real-time schedules. Benefits of LMP arise from decreases in expected start-up and variable generation costs resulting from consistent consideration of the full set of network constraints both day-ahead and in real time. Meanwhile, coordinating adjacent balancing markets provides benefits because intermarket flows can be adjusted in real-time in response to changing conditions. To quantify these benefits, we analyse a stylised four-node network, examining the effects of varying system characteristics on the magnitude of the locational-based unit commitment benefits and the benefits of intermarket balancing. We conclude that both categories of benefits are situation dependent, such that small parameter changes can lead to large changes in expected benefits. Although both can amount to a significant percentage of operating costs, we find that the benefits of coordinating balancing markets generally exceed unit commitment benefits.     

Sustainable tourism in Greek islands: the integration of activity‐based environmental management with a destination environmental scorecard based on the adaptive resource management paradigm

Tourism is a major industry that can lead to economic gains as well as to degraded environment and social infrastructure. Tourism has the potential to destroy the available common environmental resources through overuse and poor management practices, as limited information disclosure and poor monitoring of actions encourage the perpetuation and extension of environmental problems. Based on the adaptive resource management paradigm for addressing problems related to the use of the commons, this paper suggests a methodology for the development of a management tool that can provide island hotels with a continuous flow of timely, relevant, accurate and objective information on the environmental impact of critical corporate activities. The tool, named the destination environmental scorecard (DES), draws on activity‐based management concepts and can help local hotel SMEs measure and compare their performance against certain standards and thus conduct operations in a responsible and measurable way to the benefit of both business financial performance and regional sustainability. The paper presents the DES operational characteristics and the potential benefits from its implementation. Copyright © 2008 John Wiley & Sons, Ltd and ERP Environment.     

A Note on Relevant Comparisons of Corporations and Countries

A bstract . Attempts to compare the magnitude of corporations and countries are frequently biased by the use of inconsistent measures. While Gross National Product reflects the output obtained from a nation's land, labor and capital resources, corporate sales reflect not only the firm's output but also that of its suppliers. A more realistic picture can be obtained by comparing corporate value added to national output. While available information permits only an approximation of the former, it appears that the average company is responsible for less than 50 percent of the value of the product it sells. The basic conclusion that some firms are in this sense comparable to Nation-States remains valid. However, the rank of the largest companies relative to countries is reduced substantially.