Housing Rents and Inflation Rates

This paper develops a quality-adjusted measure of marginal housing rents using a monthly statistic of landlord net rental income. The marginal rent index (MRI) exhibits deflation during recessions and leads the official rent index by 7 months. The modified inflation rate based on MRI suggests that the annual official inflation rate was overestimated by 1.7–4.1% during the Great Recession but underestimated by 0.3–0.7% during the subsequent expansionary period.     

Destination loyalty and repeat behaviour: an application of optimum stimulation measurement

This paper reports on a study of consumer loyalty in the holiday destination selection process. The study does not define loyalty, but attempts to contribute to an understanding of the concept by applying a psychological measure of variety seeking directly to patterns of holiday destination choice. The measure used is based on the optimum stimulation level (OSL) concept. The guiding proposition in this study was that tourists with a high need for variety would display a varied pattern in their vacation destination selection and this assumption is modestly supported by the empirical findings. The results suggest that further experimentation with the OSL would be fruitful when combined with attitudinal measures and with precisely defined sets of tourist behaviours. Copyright © 2004 John Wiley & Sons, Ltd.