LABELLING CHARACTERISTICS AND DEMAND FOR RETAIL GROCERY PRODUCTS IN AUSTRALIA*

This paper examines whether labelling characteristics affect short‐run demand for manufactured foods in Australia. We estimate the effect of common labelling characteristics on demand using data from 92 brands in 12 product categories from major supermarket stores across Australia over the period 2002 to 2005. We find that certain characteristics – such as whether the product is made from recycled materials, certified as being Australian‐made, is a private label product, is health‐conscious or supports a charity – have a positive effect on demand. However, being an environmentally‐friendly good had a negative impact on demand as did products which offer the chance to win a prize and uncertified Australian‐made goods.     

美国需求端产业结构的变化及对中国的启示

对产业结构演化的研究都是从供给端计算的产业结构,本文构造了从需求端计算的产业结构并依此对美国需求端产业结构的演化进行了实证分析。研究表明,当年价所计算的美国需求端三次产业结构的变化小于供给端产业结构的变化;1970年以来美国第二产业的变化差异中近40%可以用外贸因素来解释。进而本文采取不变价计算了美国产业结构的变化,研究表明,自1970年以来按不变价计算的美国需求端的产业结构变化很小,且美国第三产业比例提升中有31%可以用不同产业价格因素变化来解释,44%可以用国际贸易来解释,仅有25%可以用第三产业收入弹性的变化来解释,因而收入弹性不是美国第三产业比例提升的重要原因。美国能够维持经常账户的逆差,将第三产业作为动力产业的根本原因在于美元的霸权地位。相比较而言,中国一直以来处于国际收支“双顺差”的状态,中国的具体国情和国家实力均无法满足大规模输出人民币使之成为其他国家储备货币的条件。     

THE SCOPE FOR COLLUSION AND COMPETITION IN A REGULATED VERTICALLY INTEGRATED INDUSTRY*

This paper investigates the competitive implications of input price controls in a partially regulated industry where a vertically integrated firm has exclusive control over an input with natural monopoly characteristics. Such industry structures are commonly encountered in activities such as telecommunications, railways, electricity and water supply. It is shown that in a Cournot game such input price controls are unambiguously benefical to consumers. However, it is further demonstrated that there exist circumstances in which these controls may make the non-integrated firm worse off. Thus if the objective of input price regulation is to protect the non-integrated firm, such controls may prove to be counterproductive.     

FIRM AND INDUSTRY OUTPUT WHEN PRODUCT DEMAND IS UNCERTAIN

Previous work has established the partial equilibrium response to product demand uncertainty by a single firm in a competitive industry, but for many purposes the aggregate output response of the whole industry is more important. The paper shows that this depends in a simple and intuitive way upon the attitudes to risk of the industry's constituent firms.     

FIRM FRAGMENTATION AND URBAN PATTERNS*

We document several empirical regularities regarding the evolution of urban structure in the largest U.S. metropolitan areas over the period 1980–90. These regularities relate to changes in resident population, employment, occupations, as well as the number and size of establishments in different sections of the metropolitan area. We then propose a theory of urban structure that emphasizes the location and internal structure decisions of firms. In particular, firms can decide to locate their headquarters and operation plants in different regions of the city. Given that cities experienced positive population growth throughout the 1980s, we show that firm fragmentation produces the diverse set of facts documented in the article.