Substitution Possibility between Unpriced Pulp and Wastepaper in the U.S. Paper and Paperboard Industry

A greater use of recycled wastepaper would preserve virgin forests as well as reducing the amount of wastepaper going to landfills. These environmental goals depend critically on the elasticity of substitution between pulp and wastepaper in producing paper and paperboard. Since most of the pulp consumed by U.S. paper mills and paperboard mills is transferred internally from vertically integrated pulp mills, the price data on pulp is not available. This paper constructs an econometric model which enables us to estimate the substitution possibility between unpriced pulp and wastepaper in the U.S. paper and paperboard industry. Empirical results show that the elasticity of substitution between unpriced pulp and wastepaper is positive, but not statistically significant.     

Incorporating price elasticity in financial forecasting models: From theory to practice and implementation

The authors use a capital budgeting example to show students how to incorporate price elasticity into financial analysis as an application of what students learn in their microeconomics course. They present simple as well as more advanced price-quantity relationships, and using various “what-if” scenarios; the authors show how risk analysis can be used to improve revenue projections and valuation models. A project analysis example is employed to illustrate results for negative predictive value and IRR based on three models of price elasticities across a range of potential product pricing. Students are then encouraged to replicate and create similar models, helping them improve their vital Excel and financial modeling skills.     

On a generalization of a class of production functions

In Appl. Econ. Lett. 18 (2011), 1777–1784, as a natural generalization of some famous production models with two inputs, C.A. Ioan and G. Ioan introduced a new class of production functions with constant return to scale, called sum production function, and proved three theorems of characterization for such production models. In this article, we give new and more simple proofs of these theorems, extending also the results to the case of increased/decreased return to scale. The generalization to the case of an arbitrary number of inputs is also discussed.     

How the Rapid Development of VoIP Technologies Affects Consumer Welfare and the Market

Abstract

The impact of Voice over Internet Protocol (VoIP) growth on other telecommunication services, such as landlines and mobile telephony, has gained significant interest in Korea recently. An emerging alternative to landline telecommunications, VoIP is experiencing explosive growth in demand and is providing significant economic utility to consumers. The rapid growth of smart phones has also created a considerable amount of controversy regarding the potential impact of VoIP on the mobile phone market. This study provides quantitative estimations of consumer surplus for landline, mobile and VoIP services in the Korean telecommunications market using monthly call data from January of 2006 to June of 2009, a period when VoIP services grew rapidly. Empirical analyses are conducted to estimate consumer surplus based on the demand functions of each telecommunication service. Additional analyses are conducted on consumer surplus change as well. Policy implications for the rapid growth of VoIP and its impact on consumer surplus change are also discussed.     

周期性失业与宏观财政政策的就业效应

通过对失业进行分解,利用菲利普斯曲线间接地估算自然失业率,研究表明中国实际失业率的变动趋势与自然失业率的变动趋势基本一致,且两者之间具有明显的阶段性。采用格兰杰因果检验和协整回归模型对财政政策变量与就业变量进行的计量分析结果表明:就业增长的确引致了政府投资的增加,但政府投资对就业的影响率并不是很高即政府投资存在逆就业倾向;虽然中国政府投资支出与就业量增长具有相同的变动趋势,但政府支出拉动就业的成本要远高于民间投资拉动就业的成本。因此,必须同时着眼于周期性失业和自然失业此两种不同成因的失业,一方面适时调整财政政策宏观调控的目标,另一方面进一步培育和完善劳动力市场机制以降低经济活动成本,才能够有针对性地制定和实施治理失业的措施。     

Modelling Intercontinental Tourism Consumption in South Africa: A Systems‐of‐Equations Approach

This paper investigates the pattern of inbound tourists' consumption in South Africa, examining four main intercontinental markets and five different tourism goods. The empirical investigation develops an almost ideal demand system (AIDS) model and it extends recent research by allowing tourists to base their spending decision on the real effective price differences between South Africa and their home country. The results show that tourist spending in South Africa is a luxury good, and tourists react normally to a change in the relative price of goods. The cross‐price elasticities suggest that the preferences of different markets influence their view of substitutability and complementary effects between various products in South Africa.     

基础设施资本对经济增长贡献的研究进展--生产函数法综述

在影响经济增长的各种因素中,基础设施资本是一个重要的因素.本文在简单回顾基础设施资本与经济增长关系的理论研究发展历史的基础上,对国际上有关基础设施资本影响经济增长(总产出)的效应的研究文献进行了回顾,重点对生产函数法在研究中的应用进行了综述.本文分为3个部分.1、引言;2、生产函数法的应用研究;3、总结和评价.     

从贡献分析法谈林产品生产企业的价格调整策略

本文讨论林产品企业在生产相关林产品时价格调整策略,从贡献分析法的角度,建立了调整策略的数学模型并给出了一个例子。     

中国装备制造业的出口依存度及对外市场的需求弹性研究——基于行业面板数据的分析

文章利用装备制造业7个子行业2001-2009年出口交货值和产业销售值数据,对产业的对外市场需求弹性进行了动态实证研究,并在此基础上利用7个子行业的对外市场需求弹性系数作为权重,对装备制造业的对外依存度进行了新的计算。研究结果表明,装备制造业7个子行业在短期内对外市场需求缺乏弹性,而部分行业在长期内对外市场需求富有弹性;根据对外依存度的传统定义,在产业迅速发展时期,由于没有考虑到市场需求弹性因素,对产业的对外依存度存在高估。     

中国共享式经济增长实证研究——基于公共支出、部门效应和政府治理的分析

文章首先基于多维贫困指标SHPI构建了共享式增长指数PEG,然后运用公共支出、政府治理水平和部门效应三个方面的指标来考察共享式增长。文章具体通过协整和误差修正模型分析了长期和短期影响共享式增长的主要因素及其调整机制,并在此基础上重点估计了各部门公共支出对共享式增长的影响。文章发现1978-2008年中国经济增长总体上具有共享性,但是大部分年份的共享程度较低。长期内,在公共支出、部门效应和政府治理水平三大类因素中公共支出方面的三个变量对PEG的影响最大。短期内,政府一般性支出和政府规模对共享式增长程度有非常显著的消极影响。