User Cost and the Demand for Housing Attributes

A number of studies have related changes in the demand for housing to changes in user cost. All have treated housing as a composite good rather than as a bundle of characteristics. We consider the effect of changing user cost on the demand for the component characteristics of owner-occupied housing, and, given information about the supply of the characteristics, we predict implicit price responses. An empirical test of our model indicates that reductions in user cost result in higher real prices for the non-replicable attributes of housing, examples being location and access to fixed amenities. In contrast, the price of attributes that are perfectly elastic in supply are not affected by changes in user costs. We conclude that the effects of changing user cost are not uniform across housing types and locations, thus generating the appearance of housing submarkets.     

Reviews

LEARNING FROM THE USA.

Hambleton, R. and Taylor, M. (eds.) 1993: People in Cities: A Transatlantic Policy Exchange. Bristol: School for Advanced Urban Studies Publications, £12.95.

PRIVATE INVESTMENT AND URBAN DEPRIVATION.

Deakin, N. and Edwards, J. 1993: The Enterprise Culture and the Inner City. London: Routledge, £13.99, paper.

CULTURAL POLICY AND URBAN REGENERATION.

Bianchini, F. and Parkinson, M. (eds) 1993: Cultural Policy and Urban Regeneration. Manchester: Manchester University Press, £35.00 cloth.

PERSPECTIVES ON URBAN POLICY.

Atkinson, R. and Moon, G. 1994: Urban Policy in Britain: The City, the State and the Market. Hampshire: Macmillan, £11.99, paper.

EVALUATING URBAN POLICY.

Robson, R. et al. 1994: Assessing the Impact of Urban Policy; Inner Cities Research Programme. Department of the Environment, HMSO,

£40.

DEMOCRATIC CIVIC LEADERSHIP IN TACKLING URBAN PROBLEMS.

Stoker, G. and Young, S. 1994: Cities in the 1990s. Longman. £20, paper.     

Choice of employment status and the wages of employees and the self-employed: Some further evidence

Using US data drawn from the 1978 young men NLS sample, this paper replicates a key finding reported by Rees and Shah in their analysis of self-employment using large-scale British data. A wage equation, which allows for sample selectivity, is estimated for subsamples of employees and the self-employed. Despite differences between the data sets and the variables analysed, the NLS results support Rees and Shah's conclusion that there is positive selection bias in the observed earnings of employees.     

An Overlapping-generations Model of Escape Clause Protection

The paper explores the efficiency consequences of using temporary protection to ease adjustment following an unexpected, permanent improvement in a country's terms of trade. In the model, workers trade off the potentially higher wage that the export sector has to offer with a lower job acquisition rate. An unexpected improvement in the terms of trade surprises old workers who cannot undo the decisions they made while young. Some old workers who had not planned to search for work in the export sector end up changing their plans, adding to the pool of searchers, creating congestion. Temporary protection can reduce congestion and make the transition to the new steady state smoother. Moreover, there are conditions under which the congestion externalities lead to multiple steady‐state equilibria that can be Pareto‐ranked. Temporary protection may lead to a permanent change in the allocation of resources, and this permanent change may be welfare‐enhancing.     

The new independent trade unionism in Hungary

This article describes the development of political and economic reform in Hungary since 1956 and considers the recent emergence of independent trade unionism, particularly the new Democratic Union of Scientific Workers (TDDSZ). The author assesses the prospects for independent trade unionism in general as well as the reform of the official trade union movement (SZOT) in a rapidly changing political climate.     

Central service as a clinical department.

Central service is a viable, moving, dynamic area that provides service and expertise in finance, production, and clinical care. To recognize and understand its financial and production-based aspects and yet ignore the clinical aspects is to operate ineffectively. Clinical application of the central service area is an operational imperative for materiel management. It is a vehicle for direct participation in clinical care, and it should be developed extensively. By advocating central service as a clinical area, materiel management becomes an integral, clinical part of health care provision.     

Chinese Student Travel Market to Australia: An Exploratory Assessment of Destination Perceptions

ABSTRACT

Chinese students form the largest international student travel market for Australia and approximately a quarter of Australia's international student enrollments are mainland Chinese. Despite the significance of the market, little is known about Chinese student travelers. This study offers an exploratory assessment of the perceived image of Australia in the Chinese student market. Through a self-completion questionnaire, data regarding the pre- and post-arrival perceptions of Australia were collected from Chinese students on the Gold Coast. The study identified natural scenery/attractions and agreeable environment/climate as the strengths of Australia. Historical attractions and shopping related opportunities were the weaknesses of Australia as a tourist destination. A factor analysis was performed on both pre- and post-arrival perception data. Different structural patterns emerged from the two sets of data suggesting a modification effect of actual experience on the destination perception. The results also suggest that destination marketers should emphasize the general environment in Australia when marketing to the Chinese student market.