WEIGHTED COUNTRY PRODUCT DUMMY VARIABLE REGRESSIONS AND INDEX NUMBER FORMULAE

The article considers a very simple type of hedonic regression model where the only characteristic of a commodity is the commodity itself. This regression model is known as the country product dummy method for calculating country price parities in the context of making international comparisons. The paper considers only the two country or two period case and introduces value or quantity weights into the regression. The resulting measures of overall price change between the two countries or time periods are compared to traditional bilateral index number formulae. It is shown how the Geary Khamis, Walsh and Törnqvist price indexes can be obtained as special cases of this framework.     

基于指数评价法的县级城市主体功能区划分研究——以山西省河津市为例

主体功能区划是功能属性更为突出的综合性区域规划,用来规范空间开发秩序,形成合理的空间开发结构。运用指数评价法,选取可利用土地资源、可利用水资源等8个可度量指标,以及调控指标项战略选择,形成覆盖全县域国土空间综合评价的指数,同时对一些重要的参数进行测算,根据反馈结果对区划过程和方案进行优化,划分主体功能类型,提出区划方案。     

THE INADEQUACY OF UNIT VALUE INDEXES AS PROXIES FOR CANADIAN INDUSTRIAL SELLING PRICE INDEXES*

This paper considers the adequacy of unit value indexes as proxies for industrial selling price indexes in Canada, in light of the considerations raised in the Searle report for the United States (summarized elsewhere in this issue). Some 3,237 regressions are run using the industrial selling price index for a commodity group as the dependent variable and the corresponding unit value index as the independent variable. The unit value indexes perform poorly as predictors of the I.S.P.I.; the overall tendency is for the unit value index to overestimate changes in the I.S.P.I.; and to explain on average only about 30 percent of the total variance of the I.S.P.I.     

PROBLEMS OF INTERNATIONAL COMPARISONS OF NATIONAL ACCOUNTING AGGREGATES BETWEEN COUNTRIES WITH DIFFERENT ECONOMIC SYSTEMS

This paper discusses a number of problems arising in comparisons of levels of national accounting aggregates between countries with different economic systems, notably between countries with market economies and countries with centrally planned economies. It considers problems arising from differences in the national accounting concepts used and problems arising from institutional differences, both of which are viewed as relating to the concepts on which the comparison should be based and the adjustment of national data to these concepts. The final section considers index number problems.     

Post‐Laspeyres: The Case for a New Formula for Compiling Consumer Price Indexes

Consumer price indexes (CPIs) are commonly compiled at the higher (weighted) level using Laspeyres‐type arithmetic averages. This paper questions the suitability of such formulas and considers two counterpart alternatives that use geometric averaging, the Geometric Young and the (price‐updated) Geometric Lowe. The paper provides a formal decomposition and understanding of the differences between the two. Empirical results are provided using United States CPI data. The findings lead to an advocacy of quite simple variants of a hybrid formula suggested by Lent and Dorfman that use the same data as Laspeyres‐type indexes but substantially reduce their bias.     

人口、经济发展与生态环境系统协调性测度研究——以新疆为例

“局部改善，整体恶化”是我国西部地区生态环境状况的真实概括。为了治理西部地区的生态环境，党中央于1999年6月确定了西部大开发战略，将能源开发同生态环境治理相并举。6年来，中央财政性建设资金投向西部地区4600亿元．转移支付和专项补助5000多亿元。国家计划在10年间退耕还林2．2亿亩，投资3600亿元。由于生态环境建设的绩效是一个漫长的量变累积过程，通过确定我国西部地区生态环境状况四大特征，建立“常态、一般、差”三级评价指标体系，对西部地区生态环境建设的绩效做出客观评价，有利于坚定人们对西部地区生态环境建设的信心。     

One Measure of Segregation*

This article considers the problem of deriving a numerical measure of segregation, i.e., a measure of inequality in the distribution of people across groups. It proposes a list of eight desirable properties for a good numerical measure of segregation. These properties yield a class of segregation indexes that are related to generalized entropy indexes of income inequality. Moreover, one and only one index—termed the square root index—satisfies seven of the properties.     

Chained,exact and superlative hedonic price changes: estimates from microdata

Scanner data are used to calculate chained, exact (and superlative) hedonic price indexes for television sets. The data source is available for a wide range of goods, the application providing an example of how this method can be more widely applied. The indexes correspond to constant utility, hedonic cost-of-living indexes. The approach improves on the existing direct method, which takes its estimates directly from the coefficients on time dummies in a hedonic regression. It also improves on the matched model method used by statistical agencies. The differences between actual price changes and exact hedonic quality-adjusted price changes are found to be substantial. Base-period and current-period weighted exact hedonic indexes are similar, thus providing good approximations to a superlative index. Estimates from the direct, dummy variable approach were compared to the superlative indexes. The disparities between the results argue for caution in the use of the direct, dummy variable approach to estimating quality-adjusted price changes.     

SERVICE QUALITY IN ELECTRICITY DISTRIBUTION IN BRAZIL: A MALMQUIST APPROACH

The paper undertakes a dynamic analysis for service quality in the electricity distribution in Brazil between 2010 and 2014 based on Malmquist indexes constructed upon Data Envelopment Analysis (DEA) distance functions. The motivation for the less usual consideration of efficiency frontiers for service quality, that does not rely on traditional inputs and outputs but rather on quality indicators, builds on previous static applications in the context of telecommunications. The analysis considers undesirable technical indicators for quality as inputs and desirable consumer satisfaction indicators for quality as outputs in the efficiency frontier analysis. The bootstrap‐corrected Malmquist indexes indicated service quality deterioration in 38.1 per cent, quality stagnation in 40.5 per cent and quality improvement only in 21.4 per cent of the cases. When one decomposes the Malmquist index, the evidence does not suggest relevant frontier shifts and indicates a dominant role for the catch‐up effect. Finally, Malmquist indexes are regressed against variables that may portray heterogeneities, such as firm size, service area, density, ownership and regional dummies in terms of a well‐known two‐stage procedure. The mostly weak significance results reinforce the plausibility of the initial analysis.     

Prices,product differentiation and quality measurement: A comparison between hedonic and matched model methods

The paper provides an analysis of the problems of construction of quality-adjusted price indexes within the framework of the theory of product differentiation. In the general case of price-making behaviour on the part of firms, hedonic regressions are defined on the basis of reduced forms of the equation relating equilibrium prices to product characteristics. The paper considers the reduced form given by the marginal cost function and shows that the Laspeyres hedonic price index provides a lower bound to the quality-adjusted rate of price change while the Paasche hedonic price index provides an upper bound to the quality-adjusted rate of price change. The properties of hedonic price indexes are compared with those of matched model indexes. The theory is applied to the study of personal computer prices in Italy during the 1995–2000 period.     

DEFLATION OF INPUT-OUTPUT TABLES FROM THE USER'S POINT OF VIEW: A HEURISTIC APPROACH

This paper considers the problem of deflating an input-output table from the viewpoint of the user. In many practical cases certain margins of this table are readily available in constant prices, whereas the entire table is not. This reduces the problem to estimating the matrix of sectoral intermediate deliveries in constant prices. The traditional approach for this purpose is based on the double deflation method. Since double deflation is sensitive to aggregation, however, it typically does not provide correct answers. Therefore, a heuristic approach is proposed as an alternative. It is based on the biproportional projection method. An empirical evaluation indicates that the heuristic approach clearly performs better.     

INFLATION, REDISTRIBUTION OF FACTORS AND UNEMPLOYMENT: ILLUSTRATED BY THE CASE OF FRANCE

This paper examines the causes and consequences of the inflationary process in terms of its impact upon the national accounting flows, illustrated by the case of France during the period 1966–76. The first section of the paper discusses the apparent causes of inflation, and lays out the circuits through which inflation is propagated. The second section looks behind the apparent causes to examine more closely the reasons for the observed behavior. The final section considers the consequences of inflation in terms of factor allocation, and in turn its impact upon unemployment, the balance of payments, and the rate of growth.     

基于可持续发展的区域矿产资源配置问题研究

本文基于矿产资源的有限性和不可再生性,确立了资源优化配置的多目标准则;在全面分析影响区域矿产资源优化配置的社会经济发展需求因素,区域资源基础及潜力因素,资源开发利用的能力和水平因素,区域生态环境承载力因素,资源安全储备因素,区域外资源可供性因素,配套资源及基础设施支持因素的基础上,建立了区域矿产资源合理开发规模和速度的评价指标体系和分析计算模型;就河北省矿产资源的合理开发问题进行了具体的实证分析,研究了多目标准则下区域矿产资源开发和利用在时间维度上的优化配置问题,为合理规划和调整区域矿产资源开发利用战略提供了有益参考。     

Marx's analysis of the falling rate of profit in the first version of Volume III of capital

Abstract

This paper provides an analysis of the Hodgskin section of Theories of Surplus Value and the general law section of the first version of Volume III of Capital. It then considers Part III of Volume III, the evolution of Marx's thought and various interpretations of his theory in the light of this analysis. It is suggested that, as late as the 1870s, Marx had hoped to be able to provide a demonstration that the rate of profit must fall. The main conclusions are that (1) Marx's major attempt to show that the rate of profit must fall occurred in the general law section, (2) Part III does not contain a demonstration that the rate of profit must fall and (3) Marx was never able to demonstrate that the rate of profit must fall and he was aware of this.     

Dynamics of the economic transition in Poland: An attempt at interpretation

The objective of this analysis is to describe, interpret, and assess the socioeconomic changes that took place in Poland during 1989 to 1997. This is a dynamic approach that considers the relationships that exist between successive phases of transformation and is characterized by both quantitative and qualitative analysis. The study is in three sections. The first section sets forth analytical tools and methods to study systemic transformation at large. It searches for the promising manner of a transition appraisal. The second section discusses division of the economy into sphere of regulation and real sphere. In turn, the third section includes a dynamic analysis of interrelationships between those spheres that are subject to changes in the course of transformation and, in various ways, shape the economic performance in Poland. Finally, this paper draws conclusions concerning the failures and successes of the economic transition.     

Feasible Estimation of Nonparametric Generalized Random Effect Model: An Application

This paper considers some feasible estimator for nonparametric random effect panel data model when there are more than one cross section component. A brief discussion about the consistency of the estimator is also included. The paper also discusses an interesting application related to capita-labor ratio and its effect on factor share in a neo-classical set up.

     

A short-run econometric analysis of the demand and import supply of a horticultural good: tomatoes

This paper considers the problem of estimating the short-run effects of nominal tariff and domestic production levels on the levels of imports and final market prices of fresh tomatoes in the UK during the period 1959–1968. Prior to EEC entry, tariff production was used as the main policy instrument for horticultural support; horticultural goods being exempt from guarantee or intervention price schemes. In retrospect it would, therefore, seem useful to consider the theoretical requirements for its effective use in such a market situation. The paper consists of two parts. The first section discusses a simple comparative-static specification of a simultaneous equation market model determining the prices and import levels of a single horticultural good and goes on to derive measures of the effects of tariff rate and domestic production changes on market equilibrium. The second section presents several sets of alternative estimates of the specified market model and calculated effects for the specific case of fresh tomatoes during the period 1965–68     

The Contribution of Small and Medium Enterprises to Economic Development in Ukraine and Belarus: Some Policy Perspectives

The paper considers the development of small and medium enterprises (SME) in two transition economies where market reforms have been slow (Ukraine and Belarus), focusing specifically on the role of government in the process. Empirical data from a study on SMEs and economic development in Ukraine, Belarus and Moldova are used to consider the contribution of SMEs to different aspects of transformation whilst data from a second project are used to show the support needs of SMEs.Following the introduction, which summarises the aims and methodology, the second section presents brief profiles of the context for SME development in each country. Part 3 summarises some of the main empirical findings, focusing on those aspects that have potential policy significance, specifically with respect to employment, innovation, and market orientation, whilst the fourth section considers survey evidence of the support needs of SMEs. The final section draws out the main policy implications of the findings, whilst also setting out an agenda designed to increase the contribution of SMEs to economic development in the future.On the whole, the empirical results demonstrate that some SMEs have developed in Belarus and Ukraine despite the actions of governments, although the number of private enterprises per capita remains small and their qualitative characteristics often reflect the difficult operating conditions. As a result, their contribution to economic and social change is less than it could be, mainly due to an unstable environment and an institutional context that has yet to establish the framework conditions for sustainable private sector development. In terms of policy priorities, the survey data suggest that reform of the distorted legal and financial infrastructures that exist in these countries is the highest priority need.     

官员排名赛与环境政策执行——基于环境约束性指标绩效的实证研究

以从2006年开始实行的环境约束性指标为研究对象,结合晋升锦标赛和弱排名激励理论,提出了官员排名赛理论,认为约束性指标制度的建立为地方政府提供了环境绩效排名的平台,由此推动了地方政府环境政策执行力度。利用2006—2015年中国省际环境数据,采用动态面板数据估计方法,实证检验了各省环境绩效排名对其未来环境政策执行力度的影响。实证结果表明,环境绩效排名落后的省份在未来1~3年显著提高了节能和减排的政策执行力度。