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This article has formally identified distinct historical inflation regimes in Canada since 1961 in order to facilitate an investigation of the impact of regime changes on the wage-price dynamics in the economy. Both in and out-of-sample evidence suggest that wage growth exerts an influence on inflation only during a high-inflation regime but inflation exerts a more systematic and quantitatively stronger influence on wage growth regardless of the prevailing inflation regime. Overall, the results do not support either the ‘cost-push’ view of inflation or the ‘new view’ that claims that increased globalization during the 1990s has reduced the feedback from wage growth to inflation by weakening the bargaining power of workers. 相似文献
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An evaluation of excess demand,actual cost and normal cost pricing hypotheses using non-nested tests
Akhter Faroque 《Applied economics》2013,45(8):1315-1324
This paper has emperically analyzed three versions(zero lag,geometric lag and almon lag) of three price change hypotheses – namely the excess demand, actual cost and the normal cost hypothesis – the goal being to select the hypothesis that describes the underlying price dynamics for manufactured goods. The rival models are specified as non-nested alternatives and each version is estimated by using an efficient estimator. The traditional discrimination criteria which clearly reject the zero lag version, are found to be impotent in discriminating between the dynamic versions of the models. A sequential cross-evaluation of the two dynamic versions using both pairwise and multiple non-nested hypothesis tests proposed by Davidson and MacKinnon reveals a systematic domination by the almon version of normal cost pricing over both the excess demand and the actual cost pricing mechanisms in the Canadian manufacturing sector during the period 1961:1–87:4. This result is robust under alternative specifications of the desired stock of inventories for the excess demand model. The finding implies that short–run variations in demand conditions or in actual unit costs arising from temperoary changes in productivity may not paly a significant role in manufactured goods pricing decisions. 相似文献
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Simon Pierre Sigu Salma Karray 《Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l\u0027Administration》2007,24(2):80-93
We provide a framework for setting regular prices and using promotional discounts in a duopoly where long‐term promotional effects are present and the firms' pricing and promotional strategies are common knowledge (e.g., as in online markets). We show that at equilibrium, the two firms may not promote and instead adopt an Everyday Low Price (EDLP) strategy. Consumers' tendency to stockpile promoted products, the level of brand loyalty and product differentiation, and the possibility of a postpromotional sales increase critically influence regular prices, price discount rates, and profits. Under some conditions consumer stockpiling intensifies promotional competition and reduces firms' profits while the possibility of attracting new consumers reduces the need to heavily promote and ensures better profits. Managerial implications are discussed. Copyright © 2007 ASAC. Published by John Wiley & Sons, Ltd. 相似文献
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‘Culture is communication and communication is culture,’ as Hall (1976, Beyond culture, Garden City, NY: Anchor Books, Doubleday) reminds us. The main purpose of this paper was to assess the impact of technology on the Arab communication style. The Internet is a unique environment with particular characteristics that might cause shifts in people's communication styles. The setting/context of online communication is very different from face-to-face communication and thus assumptions about communication styles need to be reexamined. The data analysis indicates that significant changes to the Arab culture are taking place and these changes are likely to have an impact on marketing practices in the region. 相似文献
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This study attempts to explain theoretically and empirically the influence of developed and developing countries’ environments on foreign direct investment from the United States. It is postulated that foreign direct investment into these economies can be explained by examining interactions among three environmental constructs: technological development, quality of life, and political instability. A structural equation model is developed to test the concurrent and longitudinal influence of the three environmental constructs on foreign direct investment into these economies from the United States. 相似文献
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Training and development activities in Bangladesh have yet to be systematic and able to fulfil the needs of the economy and industry. The national educational and training system failed to provide adequate knowledge and skills to the workforce. However, private sector organizations are undertaking different initiatives to cope with the industry skill requirements and are trying to develop their own employees. Recent government initiatives seem to be encouraging for future training and development activities in Bangladesh. 相似文献
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Akhter Faroque 《Applied economics》2013,45(16):2045-2054
In this article I investigate the historical pattern of interactions in the demand for three categories of alcoholic beverages in Canada, using both the differential Almost Ideal and the differential Rotterdam demand systems. I evaluate these models based on several decision criteria including model encompassment (based on the J-test), structural stability, conformity with demand theory and the credibility of the estimated price and income responses, in an attempt to determine which of these models is better suited for explaining the demand for alcoholic beverages. The results reveal that both models satisfy the restrictions of demand theory and of structural stability but the Rotterdam model is preferable on grounds of the remaining two criteria. 相似文献
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In this paper we attempt to distinguish the direct effect of financial development on poverty reduction from its indirect effect through economic growth. Using an efficient estimator called fixed effect vector decomposition (FEVD) we employ a set of panel data from 54 developing countries for the period 1993–2004. Our results indicate that on average financial development is conducive for poverty reduction but the instability accompanying financial development is detrimental to the poor. The major policy recommendations suggested by the paper indicate that financial sector reforms should be directed at easing credit restrictions while taking into consideration the effects of financial instability on the poor. 相似文献