By selecting the time sequence data concerning influencing factors of rural consumer demand in Hebei Province from 2000 to 2010,this paper uses the principal component analysis method in multiplex econometric statisti...By selecting the time sequence data concerning influencing factors of rural consumer demand in Hebei Province from 2000 to 2010,this paper uses the principal component analysis method in multiplex econometric statistical analysis,constructs the principal component of consumer demand in Hebei Province,conducts regression on the dependent variable of consumer spending per capita in Hebei Province and the principal component of consumer demand so as to get principal component regression,and then conducts quantitative and qualitative analysis on the principal component.The results show that total output value per capita (yuan),employment rate,and income gap,are correlative with rural residents' consumer demand in Hebei Province positively;consumer price index,upbringing ratio of children,and one-year interest rate are correlative with rural residents' consumer demand in Hebei Province negatively;the ratio of supporting the elderly and medical care spending per capita are correlative with rural residents' consumer demand in Hebei Province positively.The corresponding countermeasures and suggestions are put forward to promote residents' consumer demand in Hebei Province as follows:develop county economy in Hebei Province and increase rural residents' consumer demand;use industry to support agriculture and coordinate urban-rural development;improve rural medical care and health system and resolve actual difficulties of the masses.展开更多
The existence of irreversible demand is tested, whereby price increases induce a different absolute magnitude of quantity change than price decreases. Irreversibility is potentially likely in retail food settings for ...The existence of irreversible demand is tested, whereby price increases induce a different absolute magnitude of quantity change than price decreases. Irreversibility is potentially likely in retail food settings for storable products that are consumed regularly and can affect pricing strategy performance. If irreversibility exists, the subsequent research question for storable product demand is whether loss aversion effects dominate stockpiling effects, or vice versa. A two-period theoretical model is developed, which predicts more elastic responses to downward price movements via stockpiling, but empirical tests on secondary data are needed to evaluate offsetting loss aversion effects. A variant of the Rotterdam demand model is developed to allow differential response to price increases and decreases. The model is applied to scanner data of short periodicity （weekly in this case）, which are necessary to measure meaningful demand responses to food price changes. The products selected are U.S. cheeses and table spreads that are storable over multiple weeks. The results suggest that stockpiling dominates loss aversion. One potential cause of this behavior may be that marketers asymmetrically provide consumers with more reference price information when lowering prices, but not when raising prices. When stockpiling effects dominate, given the typically price-elastic store-level demand for food products, high-low pricing strategies should produce higher revenue. Regarding measurement of average demand response, reversible demand models applied to weekly data may overestimate own-price elasticities.展开更多
One of the vital components of the macroeconomic model that helps policymaking is the demand for money function.Having reliable predictions on the money demand function helps in determining the optimum growth of money...One of the vital components of the macroeconomic model that helps policymaking is the demand for money function.Having reliable predictions on the money demand function helps in determining the optimum growth of money supply which is vital in controlling the inflation rate in the economy and also preventing monetary disturbances from affecting real output.In order to formulate and estimate the money demand function in Ethiopia,this study used quarterly data from 2000Q3 to 2021Q2 and employed the Ordinary Least Square method and Engle-Granger two-stage procedure for empirical analysis.The empirical result from the models indicates that,in the long run,all variables(real GDP,CPI inflation,real effective exchange rate,real interest rate and lagged real money balance)are significantly affecting the demand for money in Ethiopia.Whereas,the estimated coefficients of the short-run variable show that the real effective exchange rate,CPI inflation,and lagged real money balance are the main determinants of demand for money while the real GDP and real interest rate are insignificant.Another important finding is that absolute value of the coefficient of the error correction term implies that about 54.2%of the disequilibrium in real money demand is counter-balanced by short-run adjustment in each quarter.The study suggests that in conducting monetary policy,policymakers should consider not only the behavior of income and price but also the movement of exchange rates.The study also calls for appropriate formulation and estimation of the all-encompassing demand for money function that is capable of bringing stability to the growth of money coupled with sustainable economic growth.展开更多
基金Supported by Hebei Province Regional Economic Development Countermeasures Research Program (Fs201010)
文摘By selecting the time sequence data concerning influencing factors of rural consumer demand in Hebei Province from 2000 to 2010,this paper uses the principal component analysis method in multiplex econometric statistical analysis,constructs the principal component of consumer demand in Hebei Province,conducts regression on the dependent variable of consumer spending per capita in Hebei Province and the principal component of consumer demand so as to get principal component regression,and then conducts quantitative and qualitative analysis on the principal component.The results show that total output value per capita (yuan),employment rate,and income gap,are correlative with rural residents' consumer demand in Hebei Province positively;consumer price index,upbringing ratio of children,and one-year interest rate are correlative with rural residents' consumer demand in Hebei Province negatively;the ratio of supporting the elderly and medical care spending per capita are correlative with rural residents' consumer demand in Hebei Province positively.The corresponding countermeasures and suggestions are put forward to promote residents' consumer demand in Hebei Province as follows:develop county economy in Hebei Province and increase rural residents' consumer demand;use industry to support agriculture and coordinate urban-rural development;improve rural medical care and health system and resolve actual difficulties of the masses.
文摘The existence of irreversible demand is tested, whereby price increases induce a different absolute magnitude of quantity change than price decreases. Irreversibility is potentially likely in retail food settings for storable products that are consumed regularly and can affect pricing strategy performance. If irreversibility exists, the subsequent research question for storable product demand is whether loss aversion effects dominate stockpiling effects, or vice versa. A two-period theoretical model is developed, which predicts more elastic responses to downward price movements via stockpiling, but empirical tests on secondary data are needed to evaluate offsetting loss aversion effects. A variant of the Rotterdam demand model is developed to allow differential response to price increases and decreases. The model is applied to scanner data of short periodicity （weekly in this case）, which are necessary to measure meaningful demand responses to food price changes. The products selected are U.S. cheeses and table spreads that are storable over multiple weeks. The results suggest that stockpiling dominates loss aversion. One potential cause of this behavior may be that marketers asymmetrically provide consumers with more reference price information when lowering prices, but not when raising prices. When stockpiling effects dominate, given the typically price-elastic store-level demand for food products, high-low pricing strategies should produce higher revenue. Regarding measurement of average demand response, reversible demand models applied to weekly data may overestimate own-price elasticities.
文摘One of the vital components of the macroeconomic model that helps policymaking is the demand for money function.Having reliable predictions on the money demand function helps in determining the optimum growth of money supply which is vital in controlling the inflation rate in the economy and also preventing monetary disturbances from affecting real output.In order to formulate and estimate the money demand function in Ethiopia,this study used quarterly data from 2000Q3 to 2021Q2 and employed the Ordinary Least Square method and Engle-Granger two-stage procedure for empirical analysis.The empirical result from the models indicates that,in the long run,all variables(real GDP,CPI inflation,real effective exchange rate,real interest rate and lagged real money balance)are significantly affecting the demand for money in Ethiopia.Whereas,the estimated coefficients of the short-run variable show that the real effective exchange rate,CPI inflation,and lagged real money balance are the main determinants of demand for money while the real GDP and real interest rate are insignificant.Another important finding is that absolute value of the coefficient of the error correction term implies that about 54.2%of the disequilibrium in real money demand is counter-balanced by short-run adjustment in each quarter.The study suggests that in conducting monetary policy,policymakers should consider not only the behavior of income and price but also the movement of exchange rates.The study also calls for appropriate formulation and estimation of the all-encompassing demand for money function that is capable of bringing stability to the growth of money coupled with sustainable economic growth.
