scholarly journals The COVID-19 Inflation Weighting in Israel

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Jonathan Benchimol ◽  
Itamar Caspi ◽  
Yuval Levin
Keyword(s):  
Consumer Behavior ◽  
Credit Card ◽  
Inflation Rate ◽  
Vaccination Campaign ◽  
Developed Countries ◽  
Household Consumption ◽  
Consumer Spending ◽  
Goods And Services ◽  
Inflation Bias ◽  
Significant Bias

Abstract Significant shifts in the composition of consumer spending as a result of the COVID-19 crisis can complicate the interpretation of official inflation data, which are calculated by the Central Bureau of Statistics (CBS) based on a fixed basket of goods. We focus on Israel as a country that experienced three lockdowns, additional restrictions that significantly changed consumer behavior, and a successful vaccination campaign that has led to the lifting of most of these restrictions. We use credit card spending data to construct a consumption basket of goods representing the composition of household consumption during the COVID-19 period. We use this synthetic COVID-19 basket to calculate the adjusted inflation rate that should prevail during the pandemic period. We find that the differences between COVID-19-adjusted and CBS (unadjusted) inflation measures are transitory. Only the contribution of certain goods and services, particularly housing and transportation, to inflation changed significantly, especially during the first and second lockdowns. Although lockdowns and restrictions in developed countries created a significant bias in inflation weighting, the inflation bias remained unexpectedly small and transitory during the COVID-19 period in Israel.

scholarly journals Weighting bias and inflation in the time of COVID-19: evidence from Swiss transaction data

2020 ◽  
Vol 156 (1) ◽  
Author(s):  
Pascal Seiler
Keyword(s):  
Consumer Behavior ◽  
Price Index ◽  
Inflation Rate ◽  
Consumer Price Index ◽  
Consumer Expenditure ◽  
Consumer Spending ◽  
Transaction Data ◽  
Debit Card ◽  
Public Data

Abstract Sharp changes in consumer expenditure may bias inflation during the COVID-19 pandemic. Using public data from debit card transactions, I quantify these changes in consumer spending, update CPI basket weights and construct an alternative price index to measure the effect of the COVID-induced weighting bias on the Swiss consumer price index. I find that inflation was higher during the lock-down than suggested by CPI inflation. The annual inflation rate of the COVID price index was −0.4% by April 2020, compared to −1.1% of the equivalent CPI. Persistent “low-touch” consumer behavior can further lead to inflation being underestimated by more than a quarter of a percentage point until the end of 2020.

Features of economic development of entrepreneurship in suburban areas of the region

2020 ◽  
pp. 22-25
Author(s):  
Viktoriya Bondarenko
Keyword(s):  
Economic Theory ◽  
Economic Development ◽  
National Economy ◽  
Geographic Area ◽  
Developed Countries ◽  
World Market ◽  
Production Costs ◽  
Goods And Services ◽  
Suburban Areas ◽  
The World

The level of economic development of entrepreneurship in any country in the world is crucial in increasing the competitiveness of the national economy in the world market of goods and services. The activities of economic entities are the driving force for the sustainable development of regions and their suburban areas, and they also impact the welfare of population. The article dwells on the analysis of scientific approaches to the regulation of economic development of enterprises in suburban areas of the region. The article analyzes the scientific approaches to the regulation of economic development of enterprises in suburban areas of the region. According to the well-known classics of the fundamental economic theory of entrepreneurship development (A. Smith, D. Ricardo, V. Laungard, A. Loria) the peculiarities of economic development of entrepreneurship in suburban territories of the region are determined by the possibility of distribution of surplus production, minimum production costs per unit of production, availability of labor resources. In modern economic theory (M. Weber, A. Pre, S.M. Kimelberg, E. Williams, C. Vlachou, O. Iakovidou, J. van Dijk, P. Pellenbarg) the development of entrepreneurship in suburban areas of the region can be determined by institutional, innovation, technological, social, ecological and other features of the economy at the regional, state or world levels. The complex and comprehensive generalization of the features of economic development of entrepreneurship in suburban areas is proposed. There are (1) the type of decision taken by an enterprise to carry out business activities in the relevant suburban area of the region, and (2) the influence of internal and external factors on economic activity. The article argues that large enterprises are guided by more objective decision-making reasons, attaching the most importance to the physical and innovative environment. Medium and small enterprises are mainly focused on getting benefits for the entrepreneur in the short-term time period and location in the nearest geographic area. The attention was paid to the tools of ensuring economic development of entrepreneurship in suburban areas of the region, taking into account institutional changes in the national economy and the experience of developed countries of the world.

scholarly journals City consumption profile: a city perspective on the spending behavior of citizens

2021 ◽  
Vol 6 (1) ◽  
Author(s):  
Alessia Galdeman ◽  
Cheick T. Ba ◽  
Matteo Zignani ◽  
Christian Quadri ◽  
Sabrina Gaito
Keyword(s):  
Credit Card ◽  
Detection Algorithm ◽  
Economic Behavior ◽  
Single Type ◽  
Goods And Services ◽  
Usage Patterns ◽  
Spending Behavior ◽  
Community Detection Algorithm ◽  
The City ◽  
Consumption Profile

AbstractIn designing the city of the future, city managers and urban planners are driven by specific citizens’ behaviors. In fact, economic and financial behaviors, and specifically, which goods and services citizens purchase and how they allocate their spending, are playing a central role in planning targeted services. In this context, cashless payments provide an invaluable data source to identify such spending behaviors. In this work, we propose a methodology to extract the consumption behaviors of a large sample of customers through credit card transaction data. The main outcome of the methodology is a concise representation of the economic behavior of people residing in a city, the so-called city consumption profile. We inferred the city consumption profile from a network-based representation of the similarity among the customers in terms of purchase allocation; on top of which we applied a community detection algorithm to identify the representative consumption profiles. By applying the above methodology to a set of credit card transactions of an Italian financial group, we showed that cities, even geographically close, exhibit different profiles which makes them unique. Specifically, usage patterns focused on a single type of good/service—mono-categorical consumption profile—are the main factors leading to the differences in the city profiles. Our analysis also showed that there is a group of consumption profiles common to all cities, made up by purchases of primary goods/services, such as food or clothing. In general, the city consumption profile represents a tool for understanding the economic behaviors of the citizens and for comparing different cities. Moreover, city planners and managers may use it in the outline of city services tailored to the citizens’ needs.

scholarly journals Credit card cue effect

2019 ◽  
Vol 38 (2) ◽  
pp. 368-383
Author(s):  
King Yin Wong ◽  
Michael Lynn
Keyword(s):  
Credit Card ◽  
Design Methodology ◽  
Credit Cards ◽  
Well Being ◽  
Financial Security ◽  
Consumer Spending ◽  
Content Type ◽  
Moderation Effect ◽  
Show Evidence

Purpose The extant literature has mixed results regarding the credit card cue effect. Some showed that credit card cues stimulate spending, whereas others were unable to replicate the findings or found that cues discourage consumer spending. The purpose of this paper is to investigate how consumers’ sensitivity to the pain of payment affects their mental associations about credit cards and how the differences in credit card associations moderate the credit card cue effect on spending, providing a possible explanation for the mixed results in the literature. Furthermore, this paper examines the role of consumers’ perceived financial well-being, measured by their perceptions of current and future wealth and their sense of financial security, in mediating this moderation effect. Design/methodology/approach An experimental study was conducted with a sample of 337 participants to test the hypothesized model. Findings After being shown credit card cues, spendthrift participants had more spending-related thoughts and less debt-related thoughts, perceived themselves as having better financial well-being and consequently spent more than tightwad participants. Originality/value To the authors’ knowledge, this is the first study to investigate the direct link between an exposure to credit card cues and perceived financial well-being, and one of the few to show evidence of the moderating effect of consumers’ sensitivity to the pain of payment on spending when credit card cues are present. This study suggests that marketers may use credit card cues to promote consumer spending, whereas consumers, especially spendthrifts, should be aware of how credit card cues may inflate their perceived financial well-being and stimulate them to spend more.

Foreign Trade of Russia: Barometer Foretells Storm

2016 ◽  
Vol 60 (2) ◽  
pp. 15-25
Author(s):  
V. Obolenskiy
Keyword(s):  
Foreign Trade ◽  
Large Scale ◽  
Manufacturing Industry ◽  
Import Substitution ◽  
Developed Countries ◽  
Scale Production ◽  
Goods And Services ◽  
Effective System ◽  
The Government ◽  
The Developed Countries

The development of Russian foreign trade during the previous five years is analyzed. It is stated that, in terms of value, exports of services and imports of goods and services steadily grew during the first four years of the period under review. Exports of goods also rose during three years, but in 2014 both exports and imports again fell in comparison with the previous year as was the case five years ago. The composition of the Russian exports and imports of goods did not change radically during the previous years. The main items of export are, as always, mineral products, metals and fertilizers. Import is prevailed by foodstuffs, chemicals and heavy engineering equipment. The current situation is featured by the reduction of world oil prices, slump of the domestic economy and war of sanctions with the Western countries. All this substantially impairs the conditions of Russia’s foreign trade activities and inhibits its development in the upcoming years. In the author’s view, the implementation of measures worked out by the government – correction of tariff liabilities before the WTO, redirecting of trade streams from the European to the Asian markets, import substitution and export support – will unlikely improve the situation. Revision of the liabilities before the WTO in the conditions of the decrease of the internal demand and serious devaluation of Ruble is considered as inappropriate and counterproductive. “Asiatic turn” is only capable to compensate to a certain respect the loss of supplies of some food products from Europe, but cannot fully offset the loss of potentialities of the acquisition of modern technologies and equipment from the developed countries. It is doubtful that it will be possible to dramatically cut the import dependence. It is necessary to replace many kinds of foreign goods, but it is impossible to implement a frontal substitution of import in all directions. Excessive stress on the import substitution might lead to the emergence of shortages and poorer availability of some goods at the internal market and, at the worst, to self-isolation and economic autarky. The attempts to build up an effective system of export support might be successful only in the conditions of the establishment of the large-scale production of goods and services which would be comparable with the foreign analogues in respect to the criteria of price and quality. Taking this into consideration the technological renovation of production processes, first of all in the manufacturing industry, and on this basis rising up of the competitiveness of plants and factories are the most important prerequisites for encouraging export activities and formation of the new export specialization of the country.

THE SPECIFICS OF THE DEVELOPMENT OF ONLINE COMMERCE UNDER THE INFLUENCE OF CONSUMER BEHAVIOR OF INTERNET USERS

2021 ◽  
pp. 158-171
Author(s):  
Dmitrii V. Tyurin ◽  
◽  
Aleksandra O. Volkova ◽  
◽  
Keyword(s):  
Consumer Behavior ◽  
Customer Orientation ◽  
Consumer Preferences ◽  
Point Of View ◽  
Practical Skills ◽  
Electronic Format ◽  
Online Commerce ◽  
Goods And Services ◽  
Internet Users ◽  
Technical Innovations

The article presents trends and innovations in the global and Russian markets regarding consumer behavior, analyzes the prospects for the development of online commerce, and suggests various approaches to increasing the share of online store customers and consumer retention in the era of digitalization and e-commerce. In particular, the authors analyzed the specifics of interaction with the audience on the example of a large online platform “Shopping live”. The practical skills of using innovative developments by marketers in terms of the development of mobile consumption of services and goods are demonstrated. The article takes into account the requirements that customers face in connection with the pandemic and forced self-isolation, in particular, the ability to use various technical innovations. It also demonstrates, as modern factors, the experience of practicing marketers, which influenced their work in the electronic format of selling goods and services, and in particular the use of new approaches in communication and customer orientation. The authors formulate approaches to the development of electronic promotion of goods and products of various industries from the point of view of consumer preferences, based on the specifics of the marketing strategy of large marketplaces, such as Wildberries, Aliexpress.

The effect of Taxes on the wireless telecommunications sector in Jordan during the period (2011-2015): أثر الضرائب على قطاع الاتصالات اللاسلكية في الأردن خلال الفترة (2011 - 2015)

2020 ◽  
Vol 4 (14) ◽  
Author(s):  
Hassan Nabil Alhajeid, Sana Salim Alhajeid
Keyword(s):  
Inverse Relationship ◽  
Public Research ◽  
Research Centers ◽  
Consumer Spending ◽  
Goods And Services ◽  
Preliminary Discussion ◽  
Telecommunications Sector ◽  
Wireless Telecommunications ◽  
Communications Services ◽  
Descriptive Method

This research aimed at a general preliminary discussion of the implications of taxes on communications services and public taxes such as VAT on goods and services or all. This research follows the descriptive method, which collects information from its various sources and submits it to Therefore, the researcher will study the literature related to the study and a number of published and unpublished sources, such as the working papers of conferences, workshops, seminars, articles, in addition to previous studies and researches. He will also work on studying statistics and publications issued by ministries and public research centers. The study's hypothesis provided that there is an inverse relationship between the taxation of the telecommunications sector and the sector's contribution to GDP. The study's hypothesis provided that there is an inverse relationship between the taxation of the telecommunications sector and the sector's contribution to GDP. The research concludes with several results that can be summed up in five points: 1_Annual profit declined by 5.7 in the first half of the year: 2015 compared with 2014. Consumer spending fell by 18% in the year: 2012, compared to 2011. 2-The decline in the number of employees in the sector by 441 employees between years: 2011 and 2015 AD. 3- The sector's participation in GDP fell from 8.96% in 2010 to 5.67% in 2014. The study's thesis_ which states that there is an inverse relationship between the taxation of the telecommunications sector and the sector's contribution to GDP - is well established.

scholarly journals A Review of Factors Affecting Consumer Behavior towards Online Shopping

2018 ◽  
Vol 8 (4) ◽  
Author(s):  
Roopjot Kochar ◽  
Harmanjot Kaur
Keyword(s):  
Consumer Behavior ◽  
Online Shopping ◽  
Web Browser ◽  
Factors Affecting ◽  
Privacy Concerns ◽  
Goods And Services ◽  
Factors Influencing ◽  
Guaranteed Quality ◽  
Specific Factors ◽  
Fierce Competition

Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser. Online shopping provides a good example of business revolution. Ecommerce has made life Simple and innovative of individual and groups. Consumer behavior on online shopping is different from physical market where he/she has access to see the products online shopping sites are fast replacing traditional or physical shops. Over, the years the trust of the customers for online shopping sites has increased considerably. The increase in the number of these sites on one hand has led to a fierce competition which means better and cheaper products for customers. However, at the same time customers have their privacy concerns when it comes to shopping online. Internet is changing the way consumers shop and buy goods and services and has rapidly evolved into a global phenomenon. The technology oriented factors like guaranteed quality, cash on delivery discounts and promotions are the major specific factors influencing customer’s attitudes toward online shopping. This research paper attempts to analyze the consumer behavior towards online shopping and the various factors influencing trend of online shopping.

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