The causal link between circular economy and economic growth in EU-25.

Actively promoting circular economy (CE) is one of the key means of global sustainable development. The purpose of this study is to analyze the causal relationship between CE and economic growth using data from EU-25 countries from 2010 to 2018. The selected CE indicators included municipal waste recycling rate, CE-related investment, municipal waste generation per capita, circularity rate, and trade in recyclable raw materials. Panel cointegration techniques affirmed the long-term equilibrium relationship between CE indicators and GDP. Panel vector error correction model results confirmed that in terms of short-run causality, an increase in material recycling led to a decrease in waste generation, an increase in waste generation led to an increase in CE-related investment, and economic growth led to circular economy growth, but not vice versa. This implies that encouraging CE-related innovation investments and promoting material recycling to stimulate the secondary raw material market can help achieve zero waste goals. Looking at the long-term causality, the GDP and CE indicators constituted a causal loop, which implies that there is co-evolution between them, although the circular economy is still in its infancy. This co-evolutionary sustainable economic growth can bring welfare to future generations.

The dynamic interaction between circular economy and the environment: Evidence on EU countries.

This study examined the causal dynamics between circular economy (CE) and carbon dioxide (CO2) emissions in European Union (EU) countries. The selected CE indicators included the trade in recyclable raw materials (TRM) and the circular material use rate (CMR) in the secondary raw materials area, the generation of municipal waste per capita (GMWp) in the production and consumption area and the recycling rate of municipal waste (RMW) in the area of waste management. The coefficients of the panel cointegration equations showed that for every 1 percentage point increase in RMW, average CO2 emissions decreased by 0.5%, while for every 1 percentage point increase in GMWp and TRM, the average CO2 emissions increased by 0.263% and 0.101%, respectively. It also showed that the recycling volumes and recycling rate had a positive but very limited impact on the CMR. The panel vector error correction model result showed that there were long-run bidirectional causalities between CE indicators and carbon emissions, and the TRM had a short-run negative impact on waste generation. However, the short-run impact of CE indicators on carbon emissions was not significant, which may be because the European CE is still in its infancy. The finding suggests that policymakers should adopt multilateral policies such as reducing carbon emissions, improving the efficiency and productivity of resource management and waste recycling, and increasing investment and innovation in the secondary raw materials market to achieve resource decoupling and impact decoupling. The decoupling of these two types is a necessary condition for sustainable development.

Decoupling of environmental pressure and economic growth: evidence from high-income and nuclear-dependent countries.

This paper proposes a three-step process, based on the definition of absolute decoupling (AbsDec), to analyze the role of nuclear energy in the absolute decoupling between environmental pressures (including Energy resource use and CO2Emissions) and Economic growth (3-E) during the period 1987-2016. First, we select the top four Nuclear-Dependent Countries (4-NDC), including France, Belgium, Sweden, and Switzerland, from high-income economies and the USA as a sample (i.e., 5-country). Second, we provide compound annual growth rate (CAGR) statistics for all relevant variables in each country. Third, we assess the Carbon Kuznets Curve (CKC) and investigate the dynamic interactions between 3-E by using Lotka-Volterra ecosystem model. For the 5-country, we find that the CAGR of GDP is positive, the CAGRs of CO2 emissions, CO2 intensity, and energy intensity are negative, the panel CKC exists, and the projected CAGRs of CO2 emissions are negative between 2017 and 2025. For the USA, a commensalism of energy-led growth and an amensalism of emissions-limited growth exist. For the 4-NDC, neutralisms between 3-E exist. The aggregated results indicate that the 4-NDC seem to have achieved an AbsDec between 3-E, the USA appears to achieve an AbsDec between economic growth and emissions while undergoing a relative, and perhaps absolute, decoupling between 3-E. The findings can infer that nuclear power is one of the most important energy sources for achieving absolute decoupling and genuinely sustainable development. The policy implication is that measures to reduce energy consumption and control CO2 emissions may not significantly impair economic growth in countries that rely on nuclear power.

Economic Stress and Mental Health: The Relationship Between the Stock Market and Neurotic Disorder Doctor Visits.

This paper investigates the relationship between the stock market and the neurotic disorder doctor visits. We use aggregate data, partition the population by age and gender and examine the impact of changes in the stock market on neurotic disorders. Using doctor visits as a proxy measure of morbidity, we find evidence of some relationship between neurotic disorder morbidity and stock market variations. A stock market falling in a single day and the accumulation of daily stock market drops are both associated with more neurotic disorder doctor visits. We also observe more neurotic disorder doctor visits during periods of a low stock index for the elderly, regardless of gender. Copyright © 2016 John Wiley & Sons, Ltd.

Stock or stroke? Stock market movement and stroke incidence in Taiwan.

This paper investigates the impact of stock market movement on incidences of stroke utilizing population-based aggregate data in Taiwan. Using the daily data from the Taiwan Stock Exchange Capitalization Weighted Stock Index and from the National Health Insurance Research Database during 2001/1/1-2007/12/31, which consist of 2556 observations, we examine the effects of stock market on stroke incidence - the level effect and the daily change effects. In general, we find that both a low stock index level and a daily fall in the stock index are associated with greater incidences of stroke. We further partition the data on sex and age. The level effect is found to be significant for either gender, in the 45-64 and 65 ≥ age groups. In addition, two daily change effects are found to be significant for males and the elderly. Although stockholdings can increase wealth, they can also increase stroke incidence, thereby representing a cost to health.

Pharmacoeconomic evaluation of schizophrenia in Taiwan: model comparison of long-acting risperidone versus olanzapine versus depot haloperidol based on estimated costs.

Antipsychotics are the keystone in schizophrenia treatment. Although the benefits of the new generation of antipsychotics has been demonstrated over the last decade, the issues of patient compliance and higher purchasing price of atypical antipsychotics remain unresolved. Risperidone is the only atypical antipsychotic agent with long-acting formulation. Long-acting risperidone is a water-based injection and it has been associated with a low level of pain. The aim of the present study was to test whether an improvement in compliance with the use of a long-acting risperidone, compared with olanzapine and depot haloperidol, can increase the effectiveness and the cost-effectiveness indexes. An economic comparison model with decision tree, rather than a prospective design with real clinical drug trial, was applied. The unit cost for each medical procedure was obtained from the claimed-database of the Bureau of National Health Insurance in Taiwan. An executive committee simulated the incidence of extrapyramidal side-effects and proposed a therapeutic model for each strategy based on a literature review. The probabilities of treatment response of different agents and those of different mental health states were estimated by the executive committee and 10 senior psychiatrists who were randomly selected. Sensitivity analysis was performed for drug cost-effectiveness and compliance improvement for using long-acting risperidone. The results showed that long-acting risperidone is more cost-effective than either olanzapine or depot haloperidol for treating schizophrenia patients whose conditions are stable and whose illness duration ranges from 1 to 5 years. The comparison model with the Kaplan-Meier decision tree may serve as an alternative to prospectively designed studies for cost-effectiveness of atypical antipsychotics.