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The purpose of this paper was to investigate the impact of household characteristics and preferences for Japanese cars on the demand for small cars in the United States. Two stage probit analysis was used to examine the impact of various explanatory variables on the purchase decision. The results indicated that preferences for Japanese cars, income, price and several household characteristics had a significant impact on the probability of purchasing a small car. The results of this study provide support for freer trade in automobiles and higher gasoline taxes as energy conservation strategies.
Zusammenfassung Die Nachfrage nach Kleinwagen in USA: Implikationen für Strategien zur Energieeinsparung. Diese Untersuchung wollte herausfinden, wie sich Haushaltseigenschaften und Präferenzen für japanische Autos auf die Nachfrage nach Kleinwagen in den Vereinigten Staaten auswirken. Die Stichprobe umfa\te 367 Haushalte, die im Jahr 1986 ein neues Auto kauften. Davon kauften 141 Haushalte amerikanische Kleinwagen, 84 japanische Kleinwagen und 142 Haushalte kauften gro\e amerikanische Wagen. Eine zweistufige Probit-Analyse prüfte den Einflu\ der verschiedenen Erklärungsvariablen auf die Kaufentscheidung. Die Ergebnisse besagen im wesentlichen, da\ es die Präferenzen für japanische Autos, das Einkommen, der Preis und einige Haushaltseigenschaften sind, die einen signifikanten Einflu\ auf die Wahrscheinlichkeit eines Kleinwagenkaufs haben. Die Autoren sehen in den Ergebnissen eine Unterstützung für die Forderung nach Freihandel im Automobilsektor und nach höherer Besteuerung von Kraftstoffen als Strategien zur Energieeinsparung.相似文献
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Joseph E. Gagnon Tamim Bayoumi Juan M. Londono Christian Saborowski Horacio Sapriza 《Open Economies Review》2017,28(2):191-232
This paper explores the direct effects and spillovers of unconventional monetary and exchange rate policies. We find that official purchases of foreign assets have a large positive effect on a country’s current account that diminishes considerably as capital mobility rises. There is an important additional effect through the lagged stock of official assets. Official purchases of domestic assets, or quantitative easing (QE), appear to have no significant effect on a country’s current account when capital mobility is high, but there is a modest positive impact when capital mobility is low. The effects of purchases of foreign assets spill over to other countries in proportion to their degree of international financial integration. We also find that increases in US bond yields are associated with increases in foreign bond yields and in stock prices, as well as with depreciations of foreign currencies, but that all of these effects are smaller on days of US unconventional monetary policy announcements. We develop a theoretical model that is broadly consistent with our empirical results and that highlights the potential usefulness of domestic unconventional policies as responses to the effects of foreign policies of a similar type. 相似文献
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Horacio Levy 《Wirtschaftsdienst》2016,96(1):19-23
This paper summarises some of the key findings and policy recommendations of the latest OECD report on income inequality - “In It Together: Why Less Inequality Benefits All”. In particular, the paper presents new findings regarding the trade-off between inequality and growth, as well as with regard to the impact of the economic crisis and of female employment on the distribution of income and the distribution of wealth. Key policy recommendations derived from these findings are the need to promote employment and good quality jobs, to further improve female participation, to invest in education and skills, and to foster well-designed redistribution policies. 相似文献
4.
Juan Carlos Hatchondo Leonardo Martinez Horacio Sapriza 《Review of Economic Dynamics》2010,13(4):919-933
We study the sovereign default model that has been used to account for the cyclical behavior of interest rates in emerging market economies. This model is often solved using the discrete state space technique with evenly spaced grid points. We show that this method necessitates a large number of grid points to avoid generating spurious interest rate movements. This makes the discrete state technique significantly more inefficient than using Chebyshev polynomials or cubic spline interpolation to approximate the value functions. We show that the inefficiency of the discrete state space technique is more severe for parameterizations that feature a high sensitivity of the bond price to the borrowing level for the borrowing levels that are observed more frequently in the simulations. In addition, we find that the efficiency of the discrete state space technique can be greatly improved by (i) finding the equilibrium as the limit of the equilibrium of the finite-horizon version of the model, instead of iterating separately on the value and bond price functions and (ii) concentrating grid points in asset levels at which the bond price is more sensitive to the borrowing level and in levels that are observed more often in the model simulations. Our analysis is also relevant for the study of other credit markets. 相似文献
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Review of Derivatives Research - It is well known that zero coupon rates are not observable variables. Their estimation process may be cumbersome and time consuming. We explore the extent to which... 相似文献
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All countries, especially developing countries with limited financial resources, face difficult decisions in prioritising public funds for investment projects in the face of multiple demands in order to achieve strategic public goals. Effective investment often requires coordination between different institutions and the management of political pressure to divert investment in support of private interests. It also requires the identification of appropriate sources of funds for different purposes. The preparation of an integrated infrastructure investment plan (IIIP) that uses structured approaches to review investment proposals has been suggested, and adopted in some cases, as an instrument to address these challenges and bridge the gap between national planning and sectoral budgeting. This article considers the experience of Mozambique in deploying an IIIP as well as some recent events and concludes that the instrument may be helpful as part of a system of investment planning and allocation but that it has significant limitations. 相似文献
8.
Jaime Alvarado 《Global Economic Review》2013,42(2):183-192
Abstract In the aftermath of the Indian Ocean earthquake and tsunami in December 2004, the ensuing multinational relief, humanitarian, and rebuilding efforts of the Operation United Assistance (OUA) are new examples of international cooperation to sustain and rebuild Asian communities in the post-9/11 security environment. An analysis of the cooperative efforts in light of differing theoretical perspectives provides a forum for debate on the nature of cooperation in the international arena and the implications for ethnic and civil wars in Indonesia and Sri Lanka. Once described and explained by multiple theories, the relief operations can then be used to predict and perhaps even prescribe future international cooperation in natural disasters and conflict resolution in civil war environments. As a case study, this paper also examines international security strategies and the implications for economic prosperity and political stability in sovereign but weak nation states. 相似文献
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Horacio Velasco 《Ecological Economics》2008,65(1):167-176
It is argued that the time horizon of consideration in our present efforts at sustainability is not the correct time horizon. Implementation of the correct time horizon is revealed to require a bi-level control mode that has been termed semantic closure in theoretical biology. Daly's institutions for a steady-state economy are disclosed to afford the necessary semantic closure. However, it is required that those institutions be switched from a steady-state mode of operation to a peculiar pulsing mode of operation according to seminal calculations by Dyson if true sustainability is to be attained. 相似文献
10.
Josep Raya Vilchez 《International Journal of Tourism Research》2013,15(5):417-429
Destination branding influences destination selection process and future tourist behaviors. However, measuring brand equity is difficult in the case of tourist destinations. The aim of this paper is to determine which part of the price of a tourist service can be explained by differences in characteristics and which part can be explained by differences in destination branding. Data from Catalonia, Valencia, the Balearic Islands and Languedoc‐Roussillon are used as well as the Oaxaca‐Blinder decomposition method. More than a half of the gap (between prices paid by French and Spanish tourists for an equivalent hotel) can be attributed to destination branding. Copyright © 2012 John Wiley & Sons, Ltd. 相似文献