Dataset Information

Fiscal tensions and risk premium.

ABSTRACT: The main goal of the paper is to analyse one-dimensional, isolated impact of particular variables which are used in the literature as explanatory variables for risk premium following fiscal tensions. Using Student's t-tests, supplemented with ANOVA analysis, we study about a hundred likely determinants of the risk premium in 22 OECD countries over 1978-2017. We find that for deeper falls in the risk premium following fiscal tensions, the size of fiscal adjustments matters more than their composition. That said, expenditure-based fiscal adjustments are more effective in lowering the risk premium than tax-based ones. Fiscal adjustments can outweigh the effects of global risk aversion. Otherwise its low level or decline is needed for deep falls in the risk premium, suggesting there are time-breaks in relations between the risk premium and other factors. Supply-side reforms, especially of the labour market, are of help. The risk premium often responds to their very announcements, indicating that fiscal tensions do not necessarily delay payoffs from reform efforts. That said, our results are only of qualitative nature and do not warrant any conclusions as to mechanisms or causality.

Supplementary information

The online version contains supplementary material available at 10.1007/s10663-022-09532-1.

SUBMITTER: Cizkowicz P

PROVIDER: S-EPMC8918890 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature

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Fiscal tensions and risk premium.

Ciżkowicz Piotr P Parosa Grzegorz G Rzońca Andrzej A

Empirica 20220314 3

The main goal of the paper is to analyse one-dimensional, isolated impact of particular variables which are used in the literature as explanatory variables for risk premium following fiscal tensions. Using Student's t-tests, supplemented with ANOVA analysis, we study about a hundred likely determinants of the risk premium in 22 OECD countries over 1978-2017. We find that for deeper falls in the risk premium following fiscal tensions, the size of fiscal adjustments matters more than their composi ...[more]

PMID: 35506056

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Project description:IntroductionFew studies have addressed the use patterns and characteristics of the past 30 days of premium versus non-premium cigar smokers.Aims and methodsWe pooled 10 years of data from the National Survey on Drug Use and Health (NSDUH; 2010-2019) to evaluate use patterns and demographic and tobacco use characteristics of premium and non-premium cigar smokers ages 12 years and older in the U.S. cigar-type was manually coded as premium or non-premium according to the brand used most often.ResultsBetween 2010 and 2019, 4.7% (95% CI = 4.6-4.8) of individuals aged 12 and older currently smoked cigars (past-30-day use). Smoking premium cigars (0.9% [95% CI = 0.8-0.9]) was less prevalent than smoking non-premium cigars (3.0% [95% CI = 2.9-3.1]). Although current non-premium cigar smoking prevalence steadily declined over the years, current premium cigar smoking prevalence remained stable. Premium cigar smokers were more likely to be older (≥25 years), male, non-Hispanic white, heterosexual, college educated, living in a large metro area, and to have income above 200% of the poverty threshold compared to non-premium users (p < .05). Additionally, past-30-day premium cigar smokers were less likely than non-premium users to initiate cigar smoking before the age of 18 years, smoke cigars frequently or daily, smoke cigarettes, or use marijuana (p < .05).ConclusionsOverall, premium cigar smoking is less prevalent than non-premium cigar smoking, especially among populations such as youth, racial/ethnic and sexual minorities, and low socioeconomic individuals. Premium cigar smokers tend to smoke infrequently and initiate cigars later in life compared with non-premium smokers. Study results can inform recommendations for regulating premium cigars.ImplicationsThis study found that between 2010 and 2019, there are meaningful differences in the use patterns and characteristics of past-30-day premium versus non-premium cigar smokers in the United States. Premium cigars comprise a small share of the market compared to other cigar types and are less likely to be used by youth and other tobacco control priority groups (eg, racial/ethnic minorities and individuals with low socioeconomic statuses) that bear a disproportionate burden of risk and harm from using tobacco products. Additionally, most premium cigar users smoke them only occasionally. However, it is important to continue to monitor premium cigar use, as these patterns could shift because of factors like changes in marketing practices, consumer awareness, and product prices. Tobacco policy changes may also alter the patterns and trends of premium cigar use over time. A greater, more comprehensive understanding of premium cigars' physical characteristics, patterns of use, user perceptions, tobacco industry marketing strategies, and health effects will together help to inform cigar-related regulations.

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Fiscal tensions and risk premium.

Supplementary information

Publications

Fiscal tensions and risk premium.

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