Correction to: Flexible Ubers and Fixed Taxis: the Effect of Fuel Prices on Car Services

Journal of Industry, Competition and Trade - A Correction to this paper has been published: https://doi.org/10.1007/s10842-021-00359-3     

A Market Efficiency Study of Used Car Reliability and Prices

This study explores the relationship between price and reliability in the used car market. Some of the measurement concerns, expressed by others in price-quality studies of new products, are absent because of the choice of the secondary data sources from which the relationships were derived. The finding that depreciation is independent of reliability performance raises a number of public policy issues regarding the information efficiency of the used car market.     

国际农产品价格对国内农产品价格动态传递效应研究

本文选取2001年1月—2017年6月国内外农产品价格月度数据,利用TVP-VAR模型和DCC-GARCH模型分品种从不同政策背景、不同贸易强度以及不同价格波动情况等多视角分析了国际农产品价格对国内农产品价格的动态传递效应。结果显示:国际农产品价格对国内农产品价格的传递效应在不同品种之间存在差异,且具有明显的时变性;农产品价格政策的实施会降低国际农产品价格对国内农产品价格的传递效应,但不同农产品政策的影响存在差异;贸易规模越大,国际农产品价格对国内农产品价格的传递效应越强;国际农产品价格对国内农产品价格的传递存在非对称性,国内农产品价格对国际农产品价格上涨反应更灵敏;从国内外农产品市场关联性上看,农产品市场开放程度越高、贸易量越大,国内与国际农产品价格的关联性越高,而农产品政策的实施会对部分农产品国内与国际价格波动的关联性造成影响。     

Domino Effect on Electricity and Coal Prices

In the middle of last December, the key purchase contracts for coal used in power generation in 2008 were signed, reflecting a demand for more than 1.085 billion tons. It is important to note that the country＇s five biggest power producers, China Huaneng Group, China Guodian Corporation, China Power Investment Corporation, China Huadian Corporation and China Datang Corporation, had settled on the prices on their purchase contracts, and they are expected to consume 290 million tons of coal for generating electricity,     

Domino Effect on Electricity and Coal Prices?

In the middle of last December, the key purchase contracts for coal used in power generation in 2008 were signed, reflecting a demand for more than 1.085 billion tons. It is important to note that the country's five biggest power producers, China Huaneng Group, China Guodian Corporation, China Power Investment Corporation, China Huadian Corporation and China Datang Corporation, had settled on the prices on their purchase contracts, and they are expected to consume 290 million tons of coal for generating electricity, accounting for half of the major purchase contracts.……     

房地产税收、公共服务供给与房价——基于省际面板数据的实证分析

利用中国大陆1998—2009年的省际面板数据研究地方房地产税负、公共服务供给与房价间的关系,结果表明:在整体层面,房地产持有税、交易税与房价显著负相关,而公共支出强度与公共服务水平则与房价显著正相关,并且公共服务正资本化效果大于房地产税负的负资本化效果,人均收入水平与人口密度同样与房价正相关;在区域层面,东部地区房地产税负对房价的影响较大,而在中西部地区,人均收入水平与人口密度则是影响房价的最重要因素。     

过境交付服务贸易的发展及其影响

电子商务技术和国际外包活动等新型商务实践的发展明显促进了过境交付服务贸易的发展。本文在缺乏准确统计数据的情况下,通过对现有相关统计指标和统计数据的处理,就电子商务和国际服务外包引起的过境交付数字传媒产品、电子服务贸易、IT和商务处理服务贸易等的发展程度做了粗略估计,并就这些新型过境交付服务贸易产品发展所引起的关税损失、服务质量监管和知识产权保护、发展中国家的贸易收益和经济社会安全等特殊问题进行了初步探讨。     

The Impact of Service Recovery Processes on Consumer Trust and Loyalty in Car Repair Services

ABSTRACT

Although researchers and managers are increasingly paying attention to customer satisfaction, trust, loyalty and service recovery, not much is known about how these constructs interrelate with one another. Previous research has examined the interrelationships among subsets of these constructs. The authors extend this previous research by developing and testing a conceptual framework, considering all of these constructs (complaint encounter-specific evaluations and relational constructs) within a business/consumer environment. The findings show that distributive and interactional justice perceptions of the service recovery impact the satisfaction with the way the complaint is handled, which, in turn, influences the consumer's level of trust. Finally, consumer loyalty is affected by satisfaction, trust and perceived value.

RESUMEN. A pesar del creciente interés demostrado por los investigadores y gerentes en la satisfacción, confianza lealtad y recuperación del servicio del cliente, es poco lo que se conoce sobre cómo estas condiciones se interrelacionan entre sí. Investigaciones anteriores examinaron la interrelación entre los subgrupos de estos elementos. Los autores ampliaron la investigación anterior, desarrollando y poniendo a prueba un marco conceptual, considerando todos estos elementos (las quejas tienen evaluaciones específicas y elementos relacionales) dentro del entorno negocio - consumidor. Los hallazgos muestras que las percepciones de la justicia distributiva e interreaccional de la recuperación del servicio, impactan la satisfacción debido a la forma en que se manipula la queja que, a su vez, influye sobre el nivel de confiabilidad del consumidor. Finalmente, la lealtad del consumidor también se ven afectados por el grado de satisfacción, confianza y el valor que ellos le atribuyen.

RESUMO. Embora pesquisadores e gerentes venham prestando cada vez mais atenção à satisfação, confiança e fidelidade dos clientes e à recuperação de serviço (Service Recovery), pouco se sabe sobre como esses construtos se inter-relacionam. Pesquisas anteriores examinaram as inter-relações entre subconjuntos desses construtos. Os autores estendem essas pesquisas anteriores, desenvolvendo e testando uma estrutura conceitual, considerando todos esses construtos (avaliações de reclamações específicas aos encontros e construtos relacionais) dentro de um ambiente empresa/consumidor. As descobertas mostram que as percepções da justiça distributiva e interacional da recuperação de serviço impactam a satisfação com a forma como a reclamação é manuseada, o que, por sua vez, influencia o nível de confiança do consumidor. Finalmente, a fidelidade dos consumidores é afetada pela satisfação, confiança e valor percebido.     

石油价格对初级产品价格的影响研究

本文分析考察了石油与14种初级品价格的长期互动关系。通过研究本文认为,石油价格与相关初级农产品价格间存在较强的长期均衡性关系,与初级金属品关系次之。然而并不能完全认定近年来石油价格的上升是引发各类初级品价格上涨的主要原因,其中可能存在更为复杂的作用机制。这种互动影响的传递渠道及方式也为干预初级品价格提供了可能。     

货币流动性因素对国际大宗商品期货价格的影响

以货币流通量为代表的货币流动性与国际大宗商品期货价格之间存在长期的协整关系和因果关系,货币流动性虽然对大宗商品期货价格波动存在一定影响(并不特别显著),两者在变动走势中始终保持趋势基本一致的变化,但是货币流动性并不是引起国际大宗商品期货价格变动的最主要因素.货币流动性对资产价格具有影响,主要是由于货币资产配置的因素——国际大宗商品期货价格作为资产价格之一也是货币资产配置的选择之一.国际大宗商品期货价格波动更多依赖于商品的供需关系,货币流动性大小仅是通过货币因素制约或活跃商品交易量而影响价格波动.     

Effect of Energy Prices on Economic Growth in the ECOWAS Sub-Region: Investigating the Channels Using Panel Data

The article empirically examines the effect of energy prices on economic growth within the Economic Community of West African States sub-region by acknowledging that the effect of energy prices on growth is quintessentially indirect and hence can be tracked through some channels. Exploiting the System Generalized Methods of Moments estimation technique for the period spanning 2002–2015, the results indicate that the overall effect of energy prices on economic growth is significantly negative. This effect propagates mainly through government consumption expenditure and investment, albeit its effect through real interest rate is positive. However, its negative effects on government consumption, investment, and exchange rate significantly overwhelm the positive effect from real interest rate.     

Effect of Exchange Rates and Gasoline Prices on US Imports of Japanese Automobiles

We analyze the effects of gasoline prices and exchange rates on Japanese automobile imports to the United States between 1970 and 2004. We test the relationships before, during, and after the Voluntary Restraint Agreement placed on Japanese imports between 1981 and 1988. We also control for general demand for automobiles and domestically manufactured Japanese vehicles. As expected, we found that demand for Japanese imports is positively correlated with the price of gasoline. Before 1988 the demand for Japanese imports contributed to a strengthening of the yen. But after, a positive relationship between the yen-for-dollar exchange rate and imports has prevailed.     

Sovereign Ratings and Oil‐Exporting Countries: The Effect of High Oil Prices on Ratings

We investigate how high and rising oil prices in the 2003–2008 period affected the sovereign ratings of oil‐exporting countries, after controlling for fundamentals. Based on a large dataset of countries from Standard and Poor's and Moody's, we find strong statistical evidence of a large ratings premium – nearly two notches – for those oil‐exporting countries with a large share of net oil revenue to gross domestic product, relative to countries with similar economic fundamentals. We have some limited forecast information from the rating agencies and the effect increases when we include this information, providing further evidence that this ratings premium is not driven by expected improvements in fundamentals. This finding has implications for asset prices in oil‐exporting countries and highlights the risk that in the event of a sharp unanticipated drop in oil prices, sovereign rating downgrades of oil‐exporting countries could be sharper than the deterioration in their economic fundamentals.     

我国城市生产性服务业集聚对工业的外溢效应及其区域边界——基于HLM模型的实证研究

本文利用城市样本数据和多层线性模型,实证检验了我国城市生产性服务业集聚对工业的外溢效应及其区域边界。研究发现,我国城市生产性服务业集聚能显著提高本地工业的全要素生产率;生产性服务业集聚对工业的外溢效应存在区域边界,省层面的生产性服务业集聚与所辖市工业的全要素生产率无显著的相关关系。     

生产者服务业与制造业关联效应研究

生产者服务业是为制造业提供中间投入服务企业的群体,它对制造业的提升表现在企业内部制造业模块化以后服务业务对企业的功能性支持以及企业外部供应链体系中服务商对制造业的支撑。从城市角度看,生产者服务业是大城市产业辐射效应的表现。     

The Effect of the Hedge Horizon on Optimal Hedge Size and Effectiveness When Prices are Cointegrated

This study compares two alternative regression specifications for sizing hedge positions and measuring hedge effectiveness: a simple regression on price changes and an error correction model (ECM). We show that, when the prices of the hedged item and the hedging instrument are cointegrated, both specifications yield similar results which depend on the hedge horizon (i.e., the time frame for measuring price changes). In particular, the estimated hedge ratio and regression R² will both be small when price changes are measured over short intervals, but as the hedge horizon is lengthened both measures will converge toward one. These results imply that, when prices are cointegrated, a longer hedge horizon will yield an optimal hedge ratio closer to one, while at the same time enhancing the ability to qualify for hedge accounting. © 2011 Wiley Periodicals, Inc. Jrl Fut Mark 32:837–876, 2012     

The Effect of R&D Services Offshoring on Skilled Employment: Firm Evidence

The offshoring of high‐tech services has greatly increased in recent years, with consequences for firms demand for skilled employment in firms. This paper specifically analyses the relationship between R&D offshoring and the demand for R&D employment using firm‐level data for Spanish manufacturing and services companies during the period 2004–11. Estimating different specifications with panel data techniques, we find that this association is statistically positive. In particular, for services firms a 1 percentage point increase in R&D offshoring raises the demand for researchers by about 11 per cent.