Manufacturing Wages are Rising

Manufacturing wages are up by an average 10% this year,our survey suggests Majority of clients see output per worker rising faster than wages;productivity growth is keeping pace More firms are opting for capital investment to boost productivity,as opposed to moving locations Orders situation does not look too bleak;CNY appreciation expectations are alive and kicking     

Measuring the consumer benefits of improving farm animal welfare to inform welfare labelling

Policy makers in the European Union are envisioning the introduction of a community farm animal welfare label which would allow consumers to align their consumption habits with their farm animal welfare preferences. For welfare labelling to be viable the market for livestock products produced to higher welfare standards has to be sufficiently segmented with consumers having sufficiently distinct and behaviourally consistent preferences. The present study investigates consumers’ preferences for meat produced to different welfare standards using a hypothetical welfare score. Data is obtained from a contingent valuation study carried out in Britain. The ordered probit model was estimated using Bayesian inference to obtain mean willingness to pay. We find decreasing marginal WTP as animal welfare levels increase and that people’s preferences for different levels of farm animal welfare are sufficiently differentiated making the introduction of a labelling scheme in the form of a certified rating system appear feasible.     

Where We Are with CNY invoicing

CNY trade settlement volumes are increasing, and the pilot programme has been expanded Regulatory complexity is an issue as different localities issue different guidance Hong Kong has moved to allow more local CNY products and will likely become the key offshore CNY centre.     

Seasonal Unit Root Tests with Structural Breaks in Deterministic Seasonality

The seasonal root tests of Hylleberg et al (1990) are extended using the sequential approach of Zivot and Andrews (1992). This paper presents Monte Carlo evidence to support a sequential approach to estimation and critical values are estimated. It is demonstrated that non-stationary data with structurally unstable deterministic seasonality can lead to low power in standard tests for seasonal roots. The sequential tests are applied to US agricultural price data and macroeconomic data and compared with the standard tests. Seasonal roots are rejected in all series.     

Another Step Offshore for the CNY

There is every reason to celebrate the first anniversary of the Chinese yuan （CNY） trade settlement pilot scheme （＇the scheme＇）. CNY settlement volumes have grown in leaps and bounds in recent months, albeit from a very low base. The scheme＇s scope was further expanded in June - it now includes 20 provinces, which together account For 95% of China＇s exports.     

Ranking efficiency units in DEA using bootstrapping an applied analysis for Slovenian farm data

This article explores how data envelopment analysis (DEA), along with a smoothed bootstrap method, can be used in applied analysis to obtain more reliable efficiency rankings for farms. The main focus is the smoothed homogeneous bootstrap procedure introduced by Simar and Wilson (1998) to implement statistical inference for the original efficiency point estimates. Two main model specifications, constant and variable returns to scale, are investigated along with various choices regarding data aggregation. The coefficient of separation (CoS), a statistic that indicates the degree of statistical differentiation within the sample, is used to demonstrate the findings. The CoS suggests a substantive dependency of the results on the methodology and assumptions employed. Accordingly, some observations are made on how to conduct DEA in order to get more reliable efficiency rankings, depending on the purpose for which they are to be used. In addition, attention is drawn to the ability of the SLICE MODEL, implemented in GAMS, to enable researchers to overcome the computational burdens of conducting DEA (with bootstrapping).     

公共娱乐场所从业人员生殖健康服务的调查分析--以长沙市为例

本研究探讨计划生育服务网络为公共娱乐场所提供生殖健康服务的干预模式。分析了基线调查数据。娱乐场所从业人员是一个高流动性的年轻群体,生殖保健知识欠缺,对性病艾滋病预防的认识仍有误区;他们的性观念开放,部分从业人员涉及商业性行为,已经成为传播性病艾滋病的高风险桥梁人群。基线调查为进一步开展生殖健康服务找到了干预重点和适宜的工作方式。     

Cross Entropy Estimation of the Almost Ideal Demand System for Greek Consumption

Cross entropy is used to estimate the Almost Ideal Demand System for consumption in Greece. The entropy estimates are found to improve upon the SUR estimates. It is recommended that practitioners consider employing entropy based procedures in systems where the data set is small, where there are a large number of parameters, or where the data are deficient.     

Expenditure on different categories of meat in Greece: the influence of changing tastes

This paper employs a latent variable approach to isolate the effects of changing tastes on the share of total meat expenditure on different categories of meat products in Greece during the period 1965–1995. We find that changes in the relative expenditure on different categories of meat cannot be explained by changes in the relative prices of the different meat products and increased expenditure alone. For pork products in particular, the increase in the share of expenditure has been greater than would be expected as a result of the relative fall in their price. The increase can therefore be associated with changes in taste. This finding is of general interest to those conducting empirical research into consumer behaviour both in economies where there have been significant changes in patterns of food consumption, and where, as in the case of many less industrialised economies, rapid structural changes in food consumption patterns are still to come. It is also of importance to policy makers in assessing die effectiveness of advertising or promotional campaigns in influencing longer term changes in consumer preferences for different products.