scholarly journals Consumption composition and macroeconomic dynamics

2015 ◽  
Vol 15 (1) ◽  
pp. 1-42 ◽  
Author(s):  
Jaime Alonso-Carrera ◽  
Jordi Caballé ◽  
Xavier Raurich
Keyword(s):  
Welfare Cost ◽  
Elasticity Of Substitution ◽  
Growth Effect ◽  
Consumption Expenditure ◽  
Transitional Dynamics ◽  
Dynamic Adjustment ◽  
Macroeconomic Dynamics ◽  
Relative Prices ◽  
Heterogeneous Consumption ◽  
Consumption Goods

AbstractWe analyze the transitional dynamics of an economic model with heterogeneous consumption goods where convergence is driven by two different forces: the typical diminishing returns to capital and the dynamic adjustment in consumption expenditure induced by the variation in relative prices. We show that this second force affects the growth rate if the consumption goods are produced with technologies exhibiting different capital intensities and if the intertemporal elasticity of substitution is not equal to one. Because the aforementioned growth effect of relative prices arises only under heterogeneous consumption goods, the transitional dynamics of this model exhibits striking differences with the growth model with a single consumption good. We also show that these differences in the transitional dynamics can give raise to large discrepancies in the welfare cost of shocks.

scholarly journals Wydatki wiejskich i miejskich gospodarstw domowych na dobra i usługi konsumpcyjne a ich ceny

2016 ◽  
pp. 181-192
Author(s):  
Monika Utzig
Keyword(s):  
Rural Households ◽  
Consumption Expenditure ◽  
Price Changes ◽  
Urban Households ◽  
Goods And Services ◽  
Rural And Urban ◽  
Central Statistical ◽  
Consumption Goods ◽  
Expenditure Structure

The paper presents rural and urban households’ expenditures on consumption goods and services and their change in years 2006–2014. Consumption expenditure price changes in this span was also analysed with the use of Central Statistical Office’s data. In the analysed years the share of expenditure on clothing and footwear and on restaurants and hotels increased in real terms in both rural and urban households, what can be evaluated positively. Consumption expenditure structure differences between urban and rural households decreased between 2006 and 2014.

scholarly journals Rare Disasters, Asset Prices, and Welfare Costs

2009 ◽  
Vol 99 (1) ◽  
pp. 243-264 ◽  
Author(s):  
Robert J Barro
Keyword(s):  
Growth Rate ◽  
Relative Risk ◽  
Risk Aversion ◽  
Asset Prices ◽  
Welfare Cost ◽  
Elasticity Of Substitution ◽  
Relative Risk Aversion ◽  
Rare Disasters ◽  
Representative Consumer ◽  
Consumer Model

A representative-consumer model with Epstein-Zin-Weil preferences and i.i.d. shocks, including rare disasters, accords with observed equity premia and risk-free rates if the coefficient of relative risk aversion equals 3–4. If the intertemporal elasticity of substitution exceeds one, an increase in uncertainty lowers the price-dividend ratio for equity, and a rise in the expected growth rate raises this ratio. Calibrations indicate that society would willingly reduce GDP by around 20 percent each year to eliminate rare disasters. The welfare cost from usual economic fluctuations is much smaller, though still important, corresponding to lowering GDP by about 1.5 percent each year. (JEL E13, E21, E22, E32)

Growth and Structural Change in Pakistan's Manufacturing Industry: Reply

1965 ◽  
Vol 5 (4) ◽  
pp. 663-665
Author(s):  
Stephen R. Lewis, Jr. ◽  
Ronald Soligo
Keyword(s):  
Structural Change ◽  
Consumer Goods ◽  
Manufacturing Industry ◽  
Import Substitution ◽  
Value Added ◽  
Relative Prices ◽  
Total Growth ◽  
Consumption Goods ◽  
Constant Prices

Gustav Papanck's comments on changes in relative prices among manu¬factured goods are, indeed, important. As he notes, however, the correction to constant prices would not change the measure of the importance of import sub¬stitution in explaining the growth of any given industrial group1. Also, for the period 1954/55 to 1963/64, the contribution of import substitution to total growth in value added in consumer goods industries is only slightly greater than the con¬tribution of import substitution to growth in value added in all industries (21.0 per cent for consumer goods as opposed to 19.4 per cent for all industries). In¬creasing the weight of consumption goods industries to reflect changes in relative prices would increase the importance of import substitution in explaining growth in value added in all industries very slightly. For the period 1959/60 to 1963/64 when, according to Dr. Papanek's data, the fall in the relative prices of con¬sumer goods was the greatest, increasing the weight of consumer goods indus¬tries would actually reduce the contribution of import substitution to growth in value added for all industries.

Dynamic adjustment of emission from both singlets and triplets: the role of excited state conformation relaxation and charge transfer in phenothiazine derivates

2021 ◽  
Author(s):  
Weidong Qiu ◽  
Xinyi Cai ◽  
Mengke Li ◽  
Liangying Wang ◽  
Yanmei He ◽  
...  
Keyword(s):  
Excited State ◽  
Charge Transfer ◽  
Intramolecular Charge Transfer ◽  
Dynamic Adjustment ◽  
Twisted Intramolecular Charge Transfer

Dynamic adjustment of emission behaviours by controlling the extent of twisted intramolecular charge transfer character in excited state.

Differential growth effect of regenerating (reg) protein on a rat ß-cell line

2001 ◽  
Vol 120 (5) ◽  
pp. A338-A339
Author(s):  
Z FAN ◽  
H WU ◽  
S PATEL ◽  
M ZENILMAN
Keyword(s):  
Cell Line ◽  
Growth Effect ◽  
Differential Growth

Turbulence of Economic Processes: Theoretical Aspects

2009 ◽  
pp. 90-97 ◽  
Author(s):  
V. Burlachkov
Keyword(s):  
Economic System ◽  
Process Approach ◽  
Lorentz Transformations ◽  
Macroeconomic Dynamics ◽  
Turbulence Analysis

The article discusses turbulence of economic processes as a result of relative velocities of economic system elements. It is underlined that turbulence is the property of macroeconomic dynamics. The main reason of turbulence in economic system is the discrepancy between the velocity of deals contracting and the velocity of obligations executing. The process approach to the analysis of economic system as a set of processes is proposed. Using Lorentz transformations for turbulence analysis is discussed.

Competitive and Complementary Relations in International Travel: The Case of British Travel to Cyprus

2019 ◽  
Vol 10 (5) ◽  
pp. 395-420
Author(s):  
Petros Anastasopoulos ◽  
Keyword(s):  
Strong Association ◽  
International Travel ◽  
Relative Price ◽  
Annual Data ◽  
Export Demand ◽  
Relative Prices ◽  
Vector Error Correction ◽  
Vector Error ◽  
The Mediterranean ◽  
Demand Equations

This is an econometric analysis of demand for travel to Cyprus by Britons. We examined the competitive and complementary relations between travel to Cyprus and other well-established travel destinations in the Mediterranean basin. Because many package tours include several countries in their destinations within a given journey, and because individual travelers find it more advantageous to visit more than one country in a single trip, it may be meaningful to examine international travel within the contest of groups of countries rather than a single country competing for international travelers. Specifically, we provide an analysis of the competitive and complementary relations existing between the tourism sectors of Cyprus and that of Greece, Spain and Portugal for British travelers. We provide estimates of income and relative price elasticities based of export demand equations upon annual data from 1980-2016. We tested for the stationarity of the variables and derived estimates of the Vector Error Correction Model (VECM). These tests confirm a strong association between the incomes of Britons and their decision to travel to Cyprus. Furthermore, we show the relative prices between Cyprus and other competing destinations in the Mediterranean to play an important role in determining British travel to Cyprus.

Sign in / Sign up

Export Citation Format

Share Document