THE MEASURE OF INFLATION

Different measures of inflation have their pros and cons. Changing the Monetary Policy Committee's inflation target to an inflation measure that excludes housing costs and is not widely used by economic decision-makers may well be problematic.     

气力输送过程中物料的计量

密相栓流脉气力输送技术结合Ｌｙｎｘ工业称重控制终端组成的输送－计量控制系统，以定量控制的模式替代定性控制，为扩大气力输送的服务领域的提出新的途径。     

USING TIME-SERIES TO MEASURE UNCERTAINTY IN ENVIRONMENTAL INPUT–OUTPUT ANALYSIS

Environmental Input-Output Analysis (EIOA) is a tool for environmental analysis of broad classes of sectoral activities, taking into account indirect effects in other sectors in the supply chain. The core of EIOA is an input–output table (IOT) and national accounting matrix including environmental accounts (NAMEA) for a fixed base-year. We evaluate the uncertainty in EIOA using a time series of current-price IOT and NAMEA for 13 years from 1990 to 2002. We find annual variations in the current-price IOT and NAMEA, which may represent either realistic changes in production or measurement error. We assume the changes are errors and apply a regression analysis to remove the trends from the underlying data and estimate the uncertainty in the raw IOT. We then calculate the emissions for various final users and sectors to estimate the uncertainties from typical EIOA investigations. Using Monte Carlo analysis, we then investigate how well the variations in the current-price IOT and NAMEA over time may represent uncertainties. The results of this work have several implications for both statistical offices and the analyst. Statistical offices can provide details on data sources, methodologies, and estimates of annual variations. Analysts can incorporate this uncertainty information to understand the implications of uncertainty on their calculations and ultimately the policy recommendations derived from their studies.     

HOW TO MEASURE LABOUR MARKET EFFECTS OF IMMIGRATION: A REVIEW

Abstract.  This paper surveys available empirical evidence on labour market effects of immigration. Many different approaches have been used already to try to find out whether immigration hurts the labour market opportunities of natives. No doubt new approaches will follow in the future as globalization will keep the migration issue on the agenda. This literature review discusses the different approaches concentrating on both the methodology and the results. At the end, it tries to summarize available evidence.     

HOW TO MEASURE THE ECONOMIC IMPACT OF VECTOR‐BORNE DISEASES AT COUNTRY LEVEL

Vector‐borne diseases (VBDs) are widespread in less developed countries and reemerging in developed ones. Available economic studies agree that VBDs have significant effects on countries' economic outcomes, and affirm that a systematic evaluation of such effects is crucial for the efficient allocation of resources to health‐related priorities. This paper provides a comparative assessment of available methodologies for measuring the economic impact of VBDs at national level. We review both macroeconometric and micro‐based approaches, and examine advantages and disadvantages of current methods. We conclude by suggesting possible areas for future research.     

SEARCH AND VACANCY COSTS IN THE TOKYO HOUSING MARKET: ATTEMPT TO MEASURE SOCIAL COSTS OF IMPERFECT INFORMATION

The social cost of imperfect information, in terms of buyers' search costs and sellers' opportunity costs of vacancy, is estimated in the real estate market of resale condominiums in central Tokyo by using a new, comprehensive dataset of resale condominium transactions. The results suggest a substantial social cost. Specifically, if housing information were perfectly available and marketing time were null, sellers would get benefits of 22.59% of imputed net rents of their property. In addition, buyers would save 1,042,000 yen spent on search activities for one transaction, if information were perfect. This is equivalent to 13.2% of buyers' average annual income.     

HOW PUZZLING IS THE PPP PUZZLE? AN ALTERNATIVE HALF‐LIFE MEASURE OF CONVERGENCE TO PPP

Evidence of lengthy half‐lives for real exchange rates in the presence of a high degree of exchange rate volatility has been considered as one of the most puzzling empirical regularities in international macroeconomics. This paper suggests that the measure of half‐life used in the literature might be problematic and proposes alternative measures with desirable properties. Their focus on the cumulative effects of the shocks distinguishes them from the measures used in the literature. An empirical analysis of bilateral US dollar real exchange rates employing the alternative half‐life measure produces results consistent with theory and indicates that the PPP puzzle is less pronounced than initially thought. Copyright © 2012 John Wiley & Sons, Ltd.