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The search and matching model is a compelling analytical framework that academic economists have at their disposal to explain and replicate observable labor market patterns and regularities. In the prototypical search and matching framework, the representative worker is in control of a series of variables (e.g., her job search effort, her wagesetting bargaining power, and her productivity performance), which she efficiently manages given the underlying assumption of full rationality. This assumption neglects the fact that workers may possess different personalities and that personality may exert a decisive influence on behavior and, ultimately, on employment and unemployment outcomes, as well as on the formation of wages. The current study revisits the search and matching model, endowing the labor force with potentially distinct personality traits. The big five personality traits of psychological analysis are considered, to approach eventual deviations of the model’s results relatively to the nopersonality benchmark. Each of the traits (openness to experience, conscientiousness, extraversion, agreeableness, and neuroticism) affects the labor market in distinct ways, given the unique influence they have over each dimension of the workers’ behavior.

Keywords: Search and matching; Personality traits; Labor market equilibrium; Unemployment rate; Microbased behavioral economics.

JEL classification: D91; J21; J23; J31.

This study seeks to quantify the effect of transaction costs on CO2 emissions in SubSaharan Africa. Based on a sample of 33 countries over the period 2003-2018, we specify and estimate a panel data model using the System Generalized Moments Method (GMGS). Using an augmented STIRPAT model the results reveal a persistent and robust negative effect of transaction costs on the intensity of CO2 emissions in thesecountries. We find that the increase in  transaction costs could indeed be a very significant pollution factor in SubSaharan Africa , the effect is heterogeneous for another level of pollution. This additional test reveals the existence of one of the most fundamental assumptions of environmental studies namely the existence of an environmental Kuznets curve. We therefore suggest the importance of contractual relationships and indicate their significant effect on the intensity of CO2 emissions in these countries over time.

Keywords: transaction cost, CO2 emissions, SubSaharan Africa.

JEL Codes: D23, P52.

This paper analyses Uganda’s J-curve hypothesis with the foreign world, for a period of 40 years, between 1982 and 2021, while using the ARDL methodology. 48.5 percent of Uganda’s long run instability in trade balance stabilizes in the next year. There doesn’t exist a J-curve effect in Uganda. Nonetheless, the paper finds that increase in Uganda’s real domestic (foreign) income worsens (improves) trade balance when import (export) demand increases. Going forward, Uganda should prioritise, finance and implement favourable exchange rate policies, Export Promotion strategies and Import Replacement Action Plan (IRAP) for the prioritized commodities. This is even more critical during this COVID-19 era as the country designs and implements strategies for economic recovery from the pandemic shocks.

Keywords: J-Curve, Trade balance, ARDL, Uganda, COVID-19.

JEL Classification: F13; F14; F30

There is convincing empirical evidence that economic freedom has a positive impact on economic growth. However, the transmission channels are still insufficiently uncovered. This paper makes an attempt to close this research gap. It therefore explores the role of a key parameter of the macroeconomic production function, the elasticity of substitution. Contrary to conventional wisdom, recent research has shown that the elasticity of substitution is theoretically positively related to economic growth, which has also been confirmed empirically. Therefore, this paper relates economic freedom to the elasticity of substitution. It can be shown that there is indeed a significantly positive relationship between the two variables. Free economic systems increase the flexibility of the macroeconomic production process and relax the growth limits originating from decreasing marginal products of factor inputs. However, not all areas of economic regulation have the same impact on the elasticity of substitution and thus on growth.

Keywords: Economic Growth, Economic Freedom, Property Rights, Production Function, Elasticity of Substitution

JEL Classification: O40, O47, P14, E23

The purpose of this study is to explore the relationship between real sector diversity and sustainable economic growth in Nigeria using the ARDLECM approach between 1981 and 2021. To know the impact of real sector activities on economic growth, the study assesses the longterm relationship between real sector variables and economic growth with ARDLECM approach. The Data used in the study include; GDP, Agriculture, manufacturing and services extracted from the Central Bank of Nigeria’s online statistical database. The study’s time series data ranged from 1981 to 2021. The results of the data analysis confirmed the longterm positive effect of agriculture And the Services on economic growth using the ARDL ECM approach. The results showed that agriculture and services play an important role in driving economic growth in Nigeria in the short and long term. It was observed that the coefficients of agriculture, manufacturing and services were positive and statistically significant in both long and short moments. The use of the ARDLECM method in investigating the effect of short term and the longterm real sector activities on sustainable economic growth in Nigeria make this study special. Therefore, it was recommended that the government ensure the establishment of real sector activities to meet the growing demand of the population and other economic activities at different levels. In doing so, diversifying the real sector will enhance the sustainability of Nigeria’s economic growth.

Keywords: Sector, Diversification, Sustainable, Economic, Growth, ARDL

This study examined the impact of debt burden on economic growth in Nigeria. Secondary data collected from World Bank national data, central bank of Nigeria bulletin, Nigeria’s debt management office annual report, Ministry of finance for a period of 30 years, (1990 to 2020), and ordinary least square statistical tool was used to test the relationship between Nigeria’s debt burden and its economic growth. The study found that there is a positive, but insignificant relationship between foreign debt stock (FDST) and Gross Domestic Product, a negative, and insignificant or weak relationship between foreign debt servicing (FDSR) and Gross Domestic Product. The study concluded that the aggregate of Nigeria’s debt burden does significantly affect its economic growth. The study recommends that acquisition of foreign debt should be exclusively on economic considerations.

Keywords: debt burden, economic growth, ordinary least square, Nigeria.

Following the various reports about the contributions of fisheries to the national economic development in terms of employment creation, increased consumption, income generation, poverty reduction, foreign exchange earnings and provision of raw materials, the study investigated the impact of fish farming on the welfare of the farming households in Ibi Local Government Area. Using descriptive analysis and logit regression to analyze the data obtained from 60 respondents through questionnaire administration, it was found that adults between 21 and 40 years dominated the population with secondary qualification. Majority were male who were majorly married with income generation as the main reason for fish farming venture. Inadequate capital, high cost of feeds/vaccine, insecurity, credit purchases from customers and poor technical services were the major obstacles to fish farming. Recommendations include fish farmers should come together to form cooperative societies to facilitate their access to credit and other inputs in order to overcome the problem of inadequate capital and the state government should tackle insecurity in the region with utmost sincerity and seriousness it deserved.

Keywords: Impact, Fish Farming, Welfare, Households, Ibi LGA

JEL Classification Code: Q01, Q12 & Q13