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Mayumi Fukumoto 《China Economic Review》2012,23(2):434-444
We estimate the disaggregate import demand functions for three basic classes of goods as defined in the System of National Accounts (SNA): capital goods, intermediate inputs, and final consumption goods, and use the findings to shed light on the effects of China's economic growth on its current account. The results showed that as China switches from exports to domestic demand as a key driver for economic growth, China's trade surplus would be expected to shrink rather quickly. 相似文献
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With the dramatic increase in federal and state environmental regulation in the 1970s, the cost of compliance also rose. While compliance costs have been discussed elsewhere, the implications for the competitiveness of markets have been evaluated using case studies of specific law changes and specific industries. This study examines the role of environmental regulations as barriers to entry using a panel of industries over ten years. The results indicate that environmental costs increase the value of q for the top quartile of firms, which suggests that compliance cost constitutes a barrier to entry and creates rents for larger existing firms. 相似文献
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Ana Carolina de Araújo Erica Mayumi Matsuoka July Ellen Ung Alexandre Massote 《International Journal of Logistics Research and Applications》2018,21(3):345-362
The returns management process is gaining increasing importance both in academia and among supply chain professionals, not only as a tool in the practice of sustainability, but also for its strategic role in many economic sectors. Several studies show how efficiently returns management can reduce costs and provide a competitive advantage to companies. Likewise, electronic commerce, or e-commerce, has shown significant growth in many countries and, due to its very nature, it presents much higher return rates than traditional trade. However, despite the importance of returns management operation for electronic commerce, few studies explore this theme in the literature. The aim of this paper is to describe the process of returns management of the largest online retailer of the Brazilian market, showing its evolution and analysing its performance, as well as identifying its main shortcomings. We conclude with suggestions for improvements and the implementation of a more efficient system. 相似文献
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Eichberger et al. (2007) characterize the full Bayesian update rule for capacities. This paper shows that a conditional preference relation represented by the Choquet expected utility with respect to the updated capacity through the rule does not satisfy the axiom of Conditional Certainty Equivalence Consistency. A counterexample is provided and it is proved that a relaxation of the axiom maintains their results. 相似文献
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This study considers the macroeconomic effects of retailer market concentration and buyer‐size discounts on inflation dynamics. During Japan's “lost decades”, large retailers enhanced their market power, thus increasing the exploitation of buyer‐size discounts in the procurement of goods. We incorporate this effect into an otherwise standard New Keynesian model. Calibrating to the Japanese economy during the lost decades, we find that these developments led to a deflation of approximately 0.1% annually. 相似文献
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A barrier option is one of the most popular exotic options which is designedto give a protection against unexpected wild fluctuation of stock prices.Protection is given to both the writer and holder of such an option.Kunitomo and Ikeda (1992) analytically obtained a pricing formula forexponential double barrier knockout options. Since the logarithm of theirproposed barriers for the stock price process S(t), whichisassumed to be geometric Brownian motion, are nothing but straight lineboundaries, the protection provided by them is not uniform over time. Toremedy this problem, we propose square root curved boundaries±btfor the underlying Brownian motion process W(t). Since thestandarddeviation of Brownian motion is proportional to t, theseboundaries(after transformation) can be made to provide more uniform protectionthroughout the life time of the option. We will apply asymptoticexpansions of certain conditional probabilities obtained by Morimoto (1999)to approximate pricing formulae for exponential square root double barrierknockout European call options. These formulae allow us to computenumerical values in a very short time (t < 10–6sec), whereas it takesmuch longer to perform Monte Carlo simulations to determine optionpremiums. 相似文献
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