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2024 International Advances in Economic Research
doi: 10.1007/s11294-024-09920-2
In early 2020, single-person households constituted 17% of the labor force in the United States. How did these single-person households fare in terms of their weekly hours worked following the outbreak of the coronavirus disease 2019 pandemic? To answer the question, this paper used panel data from the Basic Monthly Current Population Survey and worked with a balanced panel of 2,659 single-person households that were consecutively surveyed in February, March, and April of 2020; that is, a period including the outbreak, as well as the first peak of the pandemic. In terms of the change in total hours worked per week, the paper recorded decreases across most demographic groups. Particularly, the paper documented that single-person households in any of the groups of Black, Hispanic, high school graduates, those aged less than 25, those aged between 31 and 35, and those between 46 and 50 were among the most severely negatively affected groups. Moreover, whether fixed or random effects models were used, the study concluded with a positive effect for teleworkability (the capability to work remotely) as well as with a positive effect for essential jobs on total weekly hours worked. Finally, the author included the need for safeguarding teleworkability in a broader policy discussion, as well as the need for developing coping mechanisms against disruptions of weekly hours worked especially under extreme hardships and crises.
2024 International Advances in Economic Research
doi: 10.1007/s11294-024-09921-1
Cryptocurrencies are disrupting the finance industry and influencing monetary policies across various countries, leading to increased concerns for governments, central banks, and international institutions. This paper presents an original investigation into the macro determinants of cryptocurrency ownership, with a specific focus on Bitcoin. Employing panel data analysis, the study covers 84 countries from 2010 to 2020. The study tackles the challenge of data limitations stemming from the anonymity of blockchain technology by using Bitcoin Client Software Downloads as a proxy for cryptocurrency ownership. The findings reveal several key factors. First, Bitcoin’s price evolution plays a crucial role in enhancing its appeal, highlighting its role as an attractive asset for high returns and profit-seeking. Second, monetary freedom, reflecting sound monetary policy, acts as a deterrent to the ownership of cryptocurrencies. Third, political stability emerges as a critical driver, with countries exhibiting greater stability more likely to engage in cryptocurrency ownership. Additionally, gross domestic product per capita shows a positive impact, suggesting that wealthier nations with greater financial resources are more inclined to own cryptocurrencies, indicating economic affluence as a facilitator of cryptocurrency engagement.
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