Estimating Permanent and Transitory Components of GNP Using Consumption Information

This paper estimates permanent and transitory components of GNP using an unobserved components model that incorporates consumption information. Agents that discriminate between permanent and transitory as well as anticipated and unanticipated changes in GNP signal the persistence of a change in GNP by the size of their consumption response. Consumption data have previously been employed to discern permanent and transitory properties of GNP using a vector autoregressive (VAR) model. The unobserved components approach used in this paper has several advantages over the VAR approach and provides new evidence concerning the two components.     

A Partially Heterogeneous Framework for Analyzing Panel Data

This article proposes a partially heterogeneous framework for the analysis of panel data with fixed T. In particular, the population of cross‐sectional units is grouped into clusters, such that slope parameter homogeneity is maintained only within clusters. Our method assumes no a priori information about the number of clusters and cluster membership and relies on the data instead. The unknown number of clusters and the corresponding partition are determined based on the concept of ‘partitional clustering’, using an information‐based criterion. It is shown that this is strongly consistent, that is, it selects the true number of clusters with probability one as N→∞. Simulation experiments show that the proposed criterion performs well even with moderate N and the resulting parameter estimates are close to the true values. We apply the method in a panel data set of commercial banks in the US and we find five clusters, with significant differences in the slope parameters across clusters.     

Marketing meets Web 2.0, social media,and creative consumers: Implications for international marketing strategy

The 21^st century has brought both opportunities and challenges in our global, boundaryless world. Importantly, managers face a dynamic and interconnected international environment. As such, 21^st century managers need to consider the many opportunities and threats that Web 2.0, social media, and creative consumers present and the resulting respective shifts in loci of activity, power, and value. To help managers understand this new dispensation, we propose five axioms: (1) social media are always a function of the technology, culture, and government of a particular country or context; (2) local events rarely remain local; (3) global events are likely to be (re)interpreted locally; (4) creative consumers’ actions and creations are also dependent on technology, culture, and government; and (5) technology is historically dependent. At the heart of these axioms is the managerial recommendation to continually stay up to date on technology, customers, and social media. To implement this managerial recommendation, marketers must truly engage customers, embrace technology, limit the power of bureaucracy, train and invest in their employees, and inform senior management about the opportunities of social media.     

Perceptions of representatives of public,private, and community sector institutions of the barriers and enablers for physically active transport

Active transport bridges many shared concerns in the public health and transport sectors. To positively affect opportunities for active transport, public health and transport professionals are engaging with other sectors, including urban planning, housing, recreation, retail, education, and employer groups. A first step in such inter-sectoral collaboration is to understand the perceptions of key players in all of these sectors. This paper describes the results of structured interviews with senior and middle-level administrators from public, private, and community groups in a rapidly developing region in Queensland, Australia, to assess the perceived barriers and enablers to active transport. Key themes emerged relating to infrastructure delivery, public transport services, walk- and cycle-friendly community attributes, political leadership and government coordination, and societal travel norms and culture. There were also themes relating to limits due to resources and limited relevant technical expertise, institutional and practitioner cultures, and agencies not identifying with their roles in active transport. Policies and cross-government initiatives were seen to hold promise, including economic incentives and built environment guidelines, campaigns targeting public attitudes and opinions, and community participation in policy-making. These elements are potential keys to positively promoting comprehensive active transport initiatives among gatekeepers and leaders across different sectors.     

Some people just want to read: The roles of age,interactivity, and perceived usefulness of print in the consumption of digital information products

With the advent of digital technologies, both academic researchers and marketing practitioners alike continually seek a richer understanding of the way information is produced and consumed. Against this backdrop, this study explores the relationship between interactivity, consumer satisfaction and adoption intention in the context of digital information products. Drawing broadly on the services marketing literature, interactivity literature and diffusion theory, the results of our study suggest that in a utilitarian context, consumers are more likely to adopt interactive books than more traditional static e-books. However, satisfaction with interactivity is moderated by the age of the consumer, with older “digital immigrant” participants more satisfied by static e-books and younger “digital native” participants more satisfied by interactive e-books. Also, the less useful consumers find print products, the more likely they will be to adopt interactive digital books, and this effect is also moderated by the age of the consumer. Finally, with the proliferation of digital devices only expected to continue, these findings have important implications for both product development and marketing communication programs.     

Who Moves to Mixed-Income Neighborhoods?

This paper uses confidential Census data, specifically the 1990 and 2000 Census Long Form data, to study the income dispersion of recent cohorts of migrants to mixed-income neighborhoods. We investigate whether neighborhoods with high levels of income dispersion attract economically diverse in-migrants. If recent in-migrants to mixed-income neighborhoods exhibit high levels of income dispersion, this is consistent with stable mixed-income neighborhoods. If, however, mixed-income neighborhoods are comprised of homogenous low-income (high-income) cohorts of long-term residents combined with homogenous high-income (low-income) cohorts of recent arrivals, this is consistent with neighborhood transition. Our results indicate that neighborhoods with high levels of income dispersion do in fact attract a much more heterogeneous set of in-migrants, particularly from the tails of the income distribution. Our results also suggest that the residents of mixed-income neighborhoods may be less heterogeneous with respect to lifetime income.     

Computer systems for energy management in hotels

This paper reviews the use of computer-based energy management and control systems and relates these to the needs of a hotel. The role of these computer-based energy management systems is discussed within the context of an energy management policy and programme. Finally, the current use of this technology by hotels in the U.K. is surveyed.