The effect of income growth on the mix of purchases between disposable goods and reusable goods

With each passing year consumers find more and more disposable goods for sale in the market place. Even goods that were considered to be reusable goods just a few years back are now disposable goods. As a result the American economy has been labelled a ‘throwaway society’. This paper examines a main underlying cause for this trend by linking growth in consumer income with the purchases of disposable goods. More specifically, the model proposes that as incomes rise, consumers will purchase more of both reusable goods and disposable goods. However, as incomes rise, consumers will naturally substitute purchases away from reusable goods and into disposable goods. The shift towards disposable goods occurs because it becomes too costly for consumers to spend their time repairing and maintaining products. Their time is better spent in more productive endeavours. It is simply cheaper (in terms of opportunity cost of time) to dispose of old products and replace them with new products.     

Intraindustry trade and the skill premium: Theory and evidence

We explore theoretically and empirically the relationship between intraindustry trade and the skill premium. Our model features a Chamberlinian-type mechanism of income distribution based on quasi-homothetic consumer preferences, non-homothetic production, and factor-biased scale economies at the firm level. The analysis focuses on a two-country, one-sector model of intraindustry trade with two factor inputs consisting of high-skilled and low-skilled labor. We find that a move from autarky to free trade (a) raises the output of the representative firm and its level of total factor productivity, and (b) reduces (raises) the relative wage of high-skilled workers under the hypothesis of output-skill substitutability (output-skill complementarity). Plant-level evidence from Mexico supports the empirical relevance of the proposed income-distribution mechanism.     

Consumer values,motivation and purchase intention for luxury goods

There is considerable ambivalence in how different societies and cultures relate to the consumption of luxury goods. Thinly focused in the literature are Islamic societies (with rapidly emerging ‘super-rich’ consumer segments) where the concept of luxury may be in tension with religious values. Set against this background, this paper investigates how consumer values and motivation influence purchase intentions towards luxury goods. Based on a sample of 400 respondents drawn from Morocco and applying logistic regression models, the paper finds correlations between the intention to buy luxury goods, motivation and personal values. Paradoxically, the influence of religion appears to diminish as consumer affordability of luxury goods increase. Partly due to globalization of markets and impacts on consumer values, Moslems are not fundamentally different from western consumers with regard to predispositions towards luxury consumption. Potential impacts of religion on luxury consumption attitudes and personal values appear to be moderated by the global consumer culture. The results also show an important gender underpinning especially when considered alongside perceived gender biases in consumption decision-making in many Islamic countries. Regarding the nature of purchase behavior women were found to be more positively disposed to impulse purchasing of luxury goods compared to men while more educated people, generally, indicated a greater tendency towards rational than impulse buying decisions.     

Technology, endowments, and the factor content of bilateral trade

We derive testable restrictions relating the factor content of bilateral trade to bilateral differences in technology and endowments. This departs from the Heckscher-Ohlin-Vanek theorem which compares the factor content of net trade with factor abundance. We test the theoretical restrictions using a unique dataset that covers 41 developed and developing countries with disparate endowments and technology. We find evidence supporting the predictions. In addition: (1) The factor content predictions perform best for country pairs with larger endowment differences, and (2) for trade between capital-abundant countries, Ricardian international technology differences matter more than Heckscher-Ohlin factor endowment differences.     

New product success in the consumer packaged goods industry: A shopper marketing approach

Marketing activities that influence shoppers along the various stages of their path-to-purchase are gaining attention from both manufacturers and retailers. Using a dataset with detailed information on 105 new products (NPs) launched in the U.K. by 44 leading brands and sold across 13 major retail banners, we provide strong support for the prominent role of both upper- and lower-funnel marketing actions that influence consumers before (upper) or during (lower) their shopping trip. We show which of these shopper-marketing instruments have the largest effect on NP performance at a retailer, and whether and how their effect is moderated by the retailer's store context. When it comes to NP success, the lifeblood of CPG companies, the lower-funnel marketing actions targeting shoppers directly at the point-of-purchase predominantly decide your fate. Thus, manufacturers should work ever harder to collaborate with retailers and push the store-specific shopper-marketing instruments in a favorable direction through information sharing and tailoring of their marketing program to individual retailers. Indeed, not all news is bleak for brand manufacturers. We identify five pieces of good news that brand manufacturers can use to their advantage.     

Analyzing price and product strategies with a comprehensive system dynamics model—A case study from the capital goods industry

Price reductions and/or product enhancements are widely seen as appropriate ways to increase market share. However, the key findings of this analysis demonstrate the opposite: decreases in price combined with product enhancements can lead to substantial loss in sales revenue and, ultimately, profit. The discussion draws on findings from a comprehensive system dynamics model, which has been developed in a major company in the capital goods industry. The purpose of this research is to analyze the price and product strategies in the capital goods industry. In the case company, testing intuitive beliefs with the help of a formal system dynamics model proved to be beneficial in the strategic decision-making process. The model had a significant impact on the case company, especially when challenging basic assumptions about mechanisms of markets and competition.     

市场化测度的一种新方法--在全球贸易视角下的应用

20世纪80-90年代,中国研究市场化程度的主要目的是促进国内经济体制改革.本文旨在探讨在全球贸易视野下中国市场化测度的方法论问题.通过市场化测度国内国际两种视角对比,该文强调在全球贸易背景下,市场化测度要以国际法规和重要贸易国法规作为市场化分类标志,从国际可比角度出发选择测度因素和指标,借鉴国际上经济自由度指标和评价标准,客观地度量中国市场化指数,为实现全球公平贸易提供依据.     

资本资产定价模型的扩展及其在保险中的应用

传统的资本资产定价模型是在一系列过于严格化、理想化的条件下建立起来的。针对现实资本市场情况,通过对资本资产定价模型的应用条件的部分修改,如增加保险公司存在违约风险、交易费用和税收的条件,并且讨论交易费用分别为固定值和保费的函数时的情形以及税收分为固定值和变量的情形,对保费定价问题进行模型扩展。理论推导结果显示,在存在违约风险情况下,保险公司所收保费应该更低;承保费用越少,所需保费就越少;存在税负条件下的公平保费与税收水平有关。     

我国进出口商品结构与对外直接投资的相关性研究──基于VAR模型的分析框架

本文以我国1982-2007年的相关数据为样本,基于VAR模型的分析框架实证研究了我国进出口商品结构与对外直接投资的相关性。结果表明:进出口商品结构与对外直接投资存在长期均衡关系,其中初级产品出口、工业制成品出口分别与对外直接投资存在相互替代效应,初级产品进口、工业制成品出口分别与对外直接投资存在相互补充效应;进出口商品结构中各变量与对外直接投资均不存在短期因果关系,但共同构成了影响对外直接投资变化的短期因素。     

供求不对称性质的新解释与当今世界经济危机

当今世界经济危机根源于市场经济中的供求不对称性质,而市场经济中长期普遍存在的供大于求不对称现象。其内因是需求动力弱而供给动力强。这可用两种新论点来解释：一是在货币“价格”不变的条件下．物品专用性边际效用递减较快,同货币通用性边际效用递减较慢之间产生矛盾所致;二是将历来分开研究的供求关系和公私产权性质结合起来研究发现,不同的产权性质由于产生不同的交易价格而同供求动力的强弱存在密切关联。只有不断地产业创新。才能克服上述不断出现的供求不对称矛盾以及专用性物品边际效用递减的趋势。     

Putting the ‘New Open Economy Macroeconomics’ to a test

This paper explores one way to extend the New Open Economy Macroeconomics in an empirical direction. Adapting maximum likelihood procedures, it estimates and tests an intertemporal small open economy model with monetary shocks and nominal rigidities. Results offer mixed support for a benchmark model where prices are assumed to be sticky in the currency of the buyer. Price stickiness seems to be an important element, as overall results are poorer for versions of the model in which prices either are flexible or are sticky in the currency of the producer. The benchmark model does a better job explaining some variables than others; in particular, it does a poor job explaining exchange rate movements.     

开放型经济与新苏南模式

苏南模式孕育萌生于20世纪70年代,形成于80年代与90年代初中期,90年代初,苏南地区抓住了开发开放浦东的机遇,走上了经济国际化的道路。开放型经济的发展使苏南模式在扬弃中创新。尽管开放型经济的发展为新苏南模式的形成发挥了重要作用,创造了经济社会协调发展的奇迹,但也应看到苏南地区在发展开放型经济中还存在不少问题。因此,必须树立科学发展观,全面提升开放型经济发展水平,不断丰富新苏南模式的内涵。     

哈大齐工业走廊公共产品合作建设的模式探析

哈大齐工业走廊公共产品的建设对于推动哈大齐工业走廊整体的发展具有重要意义。从哈大齐工业走廊内公共产品建设现状和存在的问题上看,探讨实现走廊内公共产品高效建设目标的模式,应采取地方政府之间的合作、政府、市场和第三部门之间的合作及市场与第三方部门的联合供给来实现,从而推进哈尔滨、大庆、齐齐哈尔三市在工业走廊公共产品建设中的合作,提高财政投入效益。     

新巴塞尔协议框架下的风险分类和控制:银行和保险

新巴塞尔协议将银行的风险控制和有效监督建立在三大支柱基础上,即最低资本充足率、监管当局的监督检查和市场纪律。详细介绍了新巴塞尔框架下银行风险的分类与测度方法,并在此基础上,提出了保险业风险控制的三大支柱。     

新时代中俄天然气合作的挑战与对策

全球能源消费结构正向更加绿色、低碳方向转型,天然气在转型中发挥着重要作用。新时代下,中国天然气进口依存度快速提高,俄罗斯天然气出口面临挑战。与此同时,中俄全面战略协作伙伴关系不断加强,两国天然气合作机制逐步完善,天然气合作快速走向务实。但中俄内部和外部环境中存在着制约两国天然气合作的因素,也存在合作层次有待提升、基础设施条件有待进一步改善的问题。因此,中俄要加快天然气合作步伐,解决国内存在的制约因素,构建两国合作利益共同体。可以采取提升天然气合作层次,加强基础设施互联互通建设的对策来突破当前合作障碍,以此不断提升天然气合作水平。     

中国新一轮农产品价格波动的审视与剖析——“中国城乡市场协调发展高峰论坛”观点综述

农产品价格波动关系到整体物价水平的变动,直接影响国民经济的健康可持续发展.针对近年来中国农产品价格非正常波动的现象,一些专家在“中国城乡市场协调发展高峰论坛”上通过考察农产品价格波动与农产品供求、流通体系建设及宏观经济环境的关系,深入探讨了中国新一轮农产品价格波动的机理及成因,着重讨论流通领域如何缓解农产品价格非正常波动的对策,提出未来农产品价格波动的相关预测及研究展望.     

新常态下商业流通经济的转型创新路径分析

2020年新冠疫情的全球肆虐不仅没有击溃我们,反而让我国在经济、社会等诸多方面完成了全面发展和进步。在这样的大背景下,作为国民经济主轴,在整个经济体系中占有重要地位的商业流通经济,也应当顺应如今的大趋势逐步完成整个体系的升级与优化。然而,现实情况是虽然商业流通经济正朝着既定方向发展进步,但此过程中仍然存在诸多问题,本文将遇到的问题归纳总结并给出相应解决方法,希望能够对这方面的研究起到一定的推动作用。     

The New Employment Contract and the “At Risk” Worker

Employees of large blue chip corporations in the 1950s through the mid-1960s demonstrated great loyalty to their employers. In return, those employers provided cradle to grave job security and benefits for their workers. During the 1980s, however, this social contract between employees and employers seems to have undergone a change. The norms of the organization man of the earlier period passed from use and a new normative framework seems to have developed. The norm of loyalty on the part of both parties seems to have passed from practice. Employers would now terminate employees if it was in their short term interest to do so, while employees began to move from company to company, no longer making a career with one employer. Many writers have attributed this new employment relationship to the dynamics of the times, as we move from modern to late modern/early post-modern times. This paper reports the findings of a pilot qualitative study done with graduating seniors from an AACSB accredited business school (n=48). The subjects were asked to write self-reflective essays on the following themes: Given the nature of the new employment contract, are careers a vestige of the past? How do you feel about such concepts as career self reliance and career resiliency? Do you feel “at risk” in the new world of work? If so why, if not why not? If so, how do you plan to deal with it? The paper reports the critical response patterns of these graduating seniors and draws insights and conclusions from the literature illuminating the student reflections.     

建立中国-新西兰自由贸易区的经济效应

在区域经济一体化的背景下,中国和新西兰亚启动了建立自由贸易区(FTA)的谈判。如果两国正式建立FTA,将会进一步提升两国经贸关系。中新两国的经济具有互补性特征,FTA的建立对两国的货物贸易、服务贸易和投资都将产生正面效应。     

论区域经济增长模式的兴起与我国公共产品理论研究的新趋势

区域经济增长模式业已成为当今世界各国经济发展的主导趋势。跨行政区的经济合作引发了大量的跨行政区的公共治理问题,对公共产品＂单一行政区供给模式＂发出了挑战。研究跨区域公共产品协同机制不仅是一个实践问题,在理论上对于公共产品供给的＂集体行动逻辑＂与＂公地悲剧＂困境的突破有着重要的意义。