Many global shocks, including the renegotiation of NAFTA, the United States–China trade war, the Brexit, and the COVID-19 pandemic, may have recently influenced the inflation spillover in the G7 countries. The current literature overlooks the influence of these important events on the inflation spillover of the G7 countries. This study fulfills this gap and investigates the nature of inflation spillover in the short, medium, and long term. Using the monthly data from 1956:6 to 2020:12, the study finds that Japan and the United States are the main transmitters of inflation. International trade, purchasing power parity, low-cost technology, and the Abenomics policy were found to be responsible for the inflation spillover. We suggest that the central banks of these countries collaborate to achieve the targeted inflation rate.

Understanding how energy efficiency improvement can mitigate CO₂ emissions is critical for global climate change policies to ensure environmental sustainability and a low carbon future. Being the catalyst for training future generations, universities can play a leading role in this vision by adopting energy-saving and emissions reduction strategies. Using HESA data, a centralized system of reporting energy use and corresponding emissions, we adopt a two-step system GMM estimation procedure to estimate the effect of energy efficiency on CO₂ emissions for 119 UK universities over the period between 2008–2009 and 2018–2019. Results confirm that higher energy efficiency is conducive to lower emissions. However, the less-than-elastic relationship between energy efficiency and emissions implies that energy efficiency improvement alone cannot enable the UK universities to comply with their net-zero objectives unless they increasingly adopt renewable energy sources. Despite this, universities were able to avoid 2.21 gtCO₂e emissions over the sample period due to energy efficiency improvements. Our results are robust to alternative specifications.

This paper investigates the impact of psychological factors of Canadian and Mexican tourists on the US tourism sector. Using the data of 1996–2019, the study uses vector autoregression models and the spillover analysis to perform the investigation. The paper discovers that high insecurity of tourists significantly reduces tourist arrivals, passenger fare receipts, and expenditure of tourists in the US. Also, tourist inflows are highly influenced by insecurity during terrorist attacks, natural disasters, and the financial crisis of the US. It is found that high sentiment of Canadian and Mexican tourists increases their outbound travel to the US, but the impact of sentiment is relatively stronger for the Canadian tourists. Results show that the tourist inflows from Canada and Mexico are influenced by low sentiment during recessionary periods of Canada and Mexico, respectively. The paper finds no robust evidence of mood and nationalism-based retaliation of tourists for traveling to the US.