Recent studies have examined the relationship between economic policy uncertainty and exchange rate. We contribute to this literature by considering the effect of minor positive and major positive changes as well as minor negative and major negative changes in the economic policy uncertainties on the exchange rates. In this regard, we use a recently developed multiple asymmetric threshold nonlinear ARDL model along with Granger causality in quantile test. Our estimates support the asymmetric effect in three countries only when an asymmetric ARDL model is used. However, these estimates support asymmetric effects for all the sample countries when the multiple asymmetric threshold nonlinear ARDL model is used. Moreover, the effect varies across various quantiles when Granger causality in quantile test is used. Overall, the extended model helps us to examine more minutely the impact of EPU and GEPU on the exchange rate in G7 countries. The results of this study can be useful for the central banks to devise appropriate policies to intervene in the foreign exchange market.

International trade is an important aspect of business. Exchanging goods on a global scale allows states to produce and export goods that they are more efficient in and import the ones that they are not. As a result, countries reduce the cost of production, price of commodities, and expand their markets. Even so, international trade is a complex process that is facilitated by different financial, socio-political, and technological factors. The blockchain technology has revolutionized international trade and has the potential to continue doing so as this smart technology is still at its infancy. This paper analyzes the role and impacts of the blockchain in international trade, including the technology’s benefits, problems and challenges, and recommendations for improving its usefulness. The work finds that blockchain plays a significant role in international trade with numerous benefits. However, a few challenges should be addressed to ensure organizations in international trade benefits fully from blockchain technology.

Various empirical methodologies have examined the relationship between exchange rate and household consumption expenditures. However, traditional methods fail to analyze the exchange rate effect on consumption across minor and major currency depreciation and appreciations. We attempt to extend the existing literature by examining the impact of minor and major currency appreciation and depreciation on household consumption expenditures in BRICST countries, including Brazil, Russia, India, China, South Africa and Turkey. We use an extended version of the nonlinear ARDL (NARDL) and multiple threshold nonlinear ARDL model called the multiple asymmetric ARDL (MATNARDL) model. Our estimates, based on the traditional NARDL model, indicate that the asymmetric effect is found in the context of India and China only. However, the MATNARDL estimates suggest that, in the long run, the asymmetric effect is found for all the sample countries except India whereas, in the short run, the asymmetric effect is found for all the sample countries except Turkey. Finally, this study recommends the policy implications based on the results obtained in this study.

The facilities that energy delivers to social life and economic activities render it indispensable. Hence, it is equally critical that the energy cycle must have a sustainable structure. Therefore, it is an indisputable fact that developing and performing correct and consistent energy policies is vitally necessary. Energy consumption planning includes a continuous process to reassess existing and potential alternative energy approaches and strategies. The public and private decision-makers in charge of planning and managing energy consumption policies must adapt their strategies to novel and superior alternative resources according to sustainability and efficiency criteria. In this paper, the fuzzy EDAS method is used to address the best renewable energy consumption by taking political, economic, social, technological, legal, and environmental (PESTLE) dimensions into account. The analysis of the paper indicates the most efficient renewable energy consumption is sourced by geothermal, solar, wind, hydroelectricity, and biomass, respectively. By further investigation, it is concluded that the most optimum renewable energy consumption alternatives based on PESTLE dimensions are geothermal and solar energies.

PurposeThis research examines the impact of lockdown stringency measures and COVID-19 cases on food and healthcare prices in six Brazil, Russia, India, China, South Africa and Turkey (BRICST) countries. This research is conducted in these countries since previous studies failed to examine the effect of COVID-19 reported cases on food and healthcare prices.Design/methodology/approachTo achieve the objectives of this study, food and healthcare services were regressed against CVC and lockdown stringency measures using the dynamic autoregressive distributed lag (DARDL) model. For this purpose, we used daily data for BRICST countries such as Brazil, Russia, India, China, South Africa and Turkey.FindingsThe empirical evidence indicates that, in the long run, COVID-19 cases significantly and positively affect both food and healthcare prices in India, South Africa and China. In contrast, in the short run, COVID-19 positively affects food and healthcare prices in all countries except Russia and Turkey. Similarly, in the long run, the government stringency index (GSI) and Containment and Health Index (CHI) significantly affect health prices in India and South Africa. In contrast, GSI and CHI significantly affect healthcare prices in South Africa only in the short run. Finally, GSI and CHI significantly affect the food prices in the long run in India, South Africa and China and in the short run in South Africa only.Originality/valueThe widespread impact of the new Coronavirus (COVID-19) has made the world panic. COVID-19 affected all spheres of life, including food supplies and healthcare services. However, most of the empirical research failed to examine the impact of COVID-19 cases on food and healthcare prices which is the main focus of this study. Moreover, in the given context, the authors use a recently developed model that the previous studies failed to use.