Impact of electronic road pricing on real estate prices in Singapore

Since 1998, Singapore has had an Electronic Road Pricing (ERP) system set up with a network of toll gantries to tax vehicles entering designated areas in the city center during peak hours. Using the congestion rate hike with effect from November 1, 2010 as an exogenous shock, we test the effects of the ERP rate hike on retail, office and residential real estate prices. The results show that the November 2010 congestion toll rate increases cause a 19% drop in retail real estate prices within the cordon ERP areas relative to retail real estate prices outside the cordon ERP areas. The results are statistically and economically significant. However, the toll rate hike has no significant impact private office and residential real estate within cordoned ERP areas. The robustness and falsification tests could not reject the negative effects associated with the toll rate hike on retail real estate prices.     

Determinants of workers’ remittances: An empirical investigation for a panel of eleven developing Asian economies

We explore the key motives of migrant workers’ remittances from abroad for 11 major Asian migrant‐sending countries. Using panel regressions, we find that relative higher growth rate, interest rate and capital market returns of home over the host, investment, financial deepening at home have significant impact on remittance inflows into Asia, along with higher per capita incomes and international crude oil prices. With incorporation of per capita incomes and lagged impact of remittances, we observe an emergence of consumption motives to remit. Therefore, we conclude that both investment and altruistic motives are the driving forces for remittances inflows into the Asian economies.     

Investigating first‐stage exchange rate pass‐through: Sectoral and macro evidence from euro area countries

In this paper, we evaluate the first‐stage pass‐through, namely the responsiveness of import prices to the exchange rate changes, for a sample of euro area (EA) countries. Our study aimed to shed further light on the role of microeconomic factors versus macroeconomic factors in influencing the extent of the exchange rate pass‐through (ERPT). As a first step, we conduct a sectoral analysis using disaggregated import prices data. We find a much higher degree of pass‐through for more homogeneous goods and commodities, such as oil and raw materials, than for highly differentiated manufactured products, such as machinery and transport equipment. Our results confirm that cross‐country differences in pass‐through rates may be due to divergences in the product composition of imports. The higher share of imports from sectors with lower degrees of pass‐through, the lower ERPT for an economy will be. In a next step, we investigate for the impact of some macroeconomics factors or common events experienced by EA members on the extent of pass‐through. Using the system generalised method of moments within a dynamic panel‐data model, our estimates indicate that decline of import‐price sensitivity to the exchange rate is not significant since the introduction of the single currency. Our findings suggest instead that the weakness of the euro during the first 3 years of the monetary union significantly raised the extent of the ERPT. This outcome could explain why the sensitivity of import prices has not fallen since 1999. We also point out a significant role played by the inflation in the Eurozone, as the responsiveness of import prices to exchange rate fluctuations tends to decline in a low and more stable inflation environment. Overall, our findings support the view that the extent of pass‐through is comprised of both macro‐ and microeconomic aspects that policymakers should take into account.     

Alternative farming and collective goals: Towards a powerful relationships for future food policies

Based on the significant amount of literature on the concept of spatial, ecological, and social embeddedness in the Alternative Food Networks (AFNs) research, this study describes the main dynamics related to the involvement of non-conventional farmers in their collective ideas and actions.With a comparison between two European regions: Sardinia and the Community of Madrid, the paper identifies different styles of behaviour among organic producers, whether or not supervised by a control body, and highlights the differences and similarities regarding their ideas about how alternative agriculture has an impact on the environment as well as society. Eco-economies and ecopreneurship are also considered. The aim is to see if, and to what extent, these ideas have a collective character, going beyond the limits of the single farm to reach a regional scale and, thus, if there is a basis for the development of future food-related planning policies. Through the information provided by semi-structured interviews, farmers have been divided into categories according to their degree of embeddedness, described through the main themes that emerged during the interviews. Every farmer has been included in only one category according to his or her main preference, which does not imply the ab-sence of a positive attitude towards other categories.The study aims to contribute to the understanding of how AFN values and methods can boost the improvement of biodiversity and landscape conservation through collective actions which have the power to boost and develop rural initiative at a regional scale.     

Consumers’ willingness-to-pay for food safety labels in an emerging market: The case of fresh produce in Thailand

Food safety systems in emerging markets are currently facing a transformation period, becoming more stringent because of an increasing demand for safer food. Consequently, policy makers need to find strategies to increase food safety while giving the industry time to improve their performance. In Thailand, policy makers have adopted the strategy of upgrading food safety standards gradually. Government and private food safety brands and labels were introduced onto the market but little is known whether Thai consumers have preferences for them or not. This study is aimed at evaluating Thai consumers’ preferences for food safety labels and brands on fresh produce, using a surveyed based on discrete-choice experiments. A sample of 350 Thai consumers was surveyed in Bangkok and Nonthaburi in 2013. Quota sampling according to the shopping outlets and convenience sampling methods were adopted. Two hundred respondents were recruited at fresh-food markets and 150 respondents were recruited at supermarkets. We found that consumers are willing-to-pay more for both government led food safety label and private brands, but that there is high heterogeneity in their preferences. The high degree of social desirability for food safety labels confirms that food safety labelling policy should be supported. However, the provision of information and credibility are vital in order to mitigate the risk of consumer deception by self-claimed labels.     

短期影响中国商品房房价因素的计量分析--基于31个省市的横截面数据

房价问题是影响国计民生的重要问题之一，分析房价的影响因素具有重要的现实意义。收集2012年北京、天津等31个省市相关指标的横截面数据，尝试在三种不同情况下用经典线性模型进行逐步回归拟合数据，再对不同模型进行比较，从而选出最优模型。最后，通过最优模型分析得出人均可支配收入与失业率是短期内影响中国商品房房价上涨的主要因素。     

Understanding the antecedents of consumers' attitudes towards doggy bags in restaurants: Concern about food waste,culture, norms and emotions

Based on a qualitative study with 20 respondents in France and 20 respondents from the Czech Republic, this study aims to better understand how consumers’ concern about food waste, culture, social norms and emotions contribute to consumers’ attitudes and behaviors related to doggy bags. Results highlight a double paradox between conflicting norms and emotions: personal norms encourage not to waste while salient social norms encourage leaving leftovers; asking for a doggy bag generates immediate shame while leaving leftovers produces anticipated regret and guilt. Finally, the study sheds light on obstacles to overcome for the adoption of this social innovation.     

House price determinants in Athens: a spatial econometric approach

In this paper, we try to identify the price determinants in the biggest real estate market of Greece, the metropolitan area of Athens. For that purpose, various spatial econometric models are used to explore their prediction ability and we are displaying the variations in property prices for the wider area of Athens. These models have been compared based on different criteria such as model fit, the Akaike information criterion and variance of the residuals. Our results indicate that, in our case, the spatial general model is the most appropriate simultaneous autoregressive model when dealing with spatially autocorrelated prices of housing properties data, in terms of our selection criteria.