The Demand for California Wine Grapes

2012 ◽  
Vol 7 (2) ◽  
pp. 192-212 ◽  
Author(s):  
Kate B. Fuller ◽  
Julian M. Alston
Keyword(s):  
Demand Response ◽  
Jel Classification ◽  
System Model ◽  
High Price ◽  
Wine Grapes ◽  
Economic Issues ◽  
Market Shares ◽  
Flexible Form ◽  
Production Value

AbstractWine grapes contribute significantly to the economy of California, with a gross production value of more than $2 billion in 2010. Studies on economic issues in the industry require measures of demand response to price, but despite the economic importance of this industry, estimates of elasticities of demand for wine grapes have not been published. We use a flexible-form inverse demand system model to estimate elasticities of demand for wine grapes from three grape-growing regions in California, representing three different quality (price) categories. The resulting estimates of own-price elasticities are high, ranging from −2.6 for grapes in the low-price region to −9.5 for grapes in the high-price region. Such high elasticities are plausible given the role of international trade in wine, and they are consistent with synthetic estimates that we computed based on a combination of economic theory, data on market shares, estimates of some pertinent parameters in the literature, and informed guesstimates of values for other parameters. (JEL Classification: Q11, Q12, Q13)

Dimensione e concentrazione dei gruppi bancari italiani nell'ultimo decennio

2009 ◽  
pp. 21-39
Author(s):  
Vittoria Cerasi ◽  
Lisa Crosato
Keyword(s):  
Mergers And Acquisitions ◽  
Size Distribution ◽  
Small Firms ◽  
Credit Rationing ◽  
Substitution Effect ◽  
Jel Classification ◽  
Steady Increase ◽  
Credit Supply ◽  
Market Shares

- The paper analyzes the change in the size distribution of Italian banking groups over the period 1999 to 2007 following a wave of M&As among large banks. Had this process increased the degree of concentration we would have expected greater credit rationing for small firms, given the central role of Italian banks in financing small firms. We measure this change through widely used measures of concentration on branches. First, we observe a steady increase in concentration that can be captured only by looking at the overall size distribution. Other measures do not perceive this change until the year 2007, when the very large banks merged. Second, by focusing on the banking groups that have been active players in M&As we do see a decline in concentration, since smaller players have caught up with the larger ones in terms of rate of size increase. This contrasts with the role of the new entries and the disappearance of banks following mergers, that has increased the dispersion of market shares. The implications are that: i) there is a credit termination risk due to the rise in active players' size, but ii) credit rationing may not occur due to a substitution effect in credit supply from new entries. Keywords: bank market structure; size distribution of banks; measures of concentration; credit rationing of SME; mergers and acquisitions Parole chiave: struttura dell'industria bancaria; distribuzione per dimensione delle banche; misure della concentrazione; razionamento del credito alle PMI; fusioni e acquisizioni Jel Classification: G21 - L11

THE PROVENANCE OF WINE: THE ROLE OF BEDROCK AND SOIL IN TRANSFERRING TRACE AND RARE EARTH ELEMENTS INTO WINE GRAPES, SONOMA COUNTY, CA

2019 ◽  
Author(s):  
Kylie E. Dupuis ◽  
◽  
Owen A. Anfinson ◽  
Laura Waters ◽  
Holli M. Frey ◽  
...  
Keyword(s):  
Rare Earth ◽  
Rare Earth Elements ◽  
Wine Grapes ◽  
Sonoma County

Babylonia

2018 ◽  
Author(s):  
David M. Lewis
Keyword(s):  
High Price ◽  
Wage Labour ◽  
Entrepreneurial Activities

This chapter investigates the role of slavery in the Babylonian economy during the Neo-Babylonian and Achaemenid periods. As in Assyria, the relatively high price of slaves in Babylonia restricted slave ownership to the elite, though it should be noted that some wealthy Babylonian families owned enormous numbers of slaves, in some cases as many as several hundred. The chapter then turns to the various methods by which the propertied classes of Babylonian cities made their money, providing three thumbnail sketches as examples. It shows how slave labour had a limited contribution to elite fortunes due to the existence of cheaper labour alternatives, namely sharecropping tenancy and free wage labour. Slavery did, however, play an important role in the management of entrepreneurial activities.

Reshaping the Economic Structure in Argentina: The Role of External Debt during the Macri Administration (2015–2019)

2021 ◽  
pp. 048661342097642
Author(s):  
Juan E. Santarcángelo ◽  
Juan Manuel Padín
Keyword(s):  
External Debt ◽  
Economic Structure ◽  
The United States ◽  
Jel Classification ◽  
Financial Capital ◽  
Economic Policies ◽  
Right Wing ◽  
Long Term Effects

Argentina’s right-wing shift in the 2015 presidential election concluded twelve years of center-left rule. The elected president, Mauricio Macri, claimed that the economy would experience normalization of existing imbalances and recover its strength in a “new political era.” However, the new administration quickly restored the dominance of neoliberal economic policies through a comprehensive set of initiatives, which centrally included the return to international financial debt and equity markets and submission to the International Monetary Fund’s (IMF) rules. This article analyzes Argentina’s external-debt-growth process and discusses its objectives and long-term effects. This paper posits that the indebtedness process carried out by the Macri administration—and its modality—not only increased the relevance of financial capital in the Argentine economy but also structurally conditioned any future nonorthodox alternative path of development. This outcome cannot be understood without taking into account the deliberate role of the United States, the IMF, and the top companies that operate in Argentina, as well as the complicity of many political sectors. JEL Classification: H63, F34, F63

scholarly journals Saving Up for a Rainy Day? Savings Groups and Resilience to Flooding in Dar es Salaam, Tanzania

Urban Forum ◽  
2021 ◽  
Author(s):  
Alexandra Panman ◽  
Ian Madison ◽  
Nyambiri Nanai Kimacha ◽  
Jean-Benoît Falisse
Keyword(s):  
Urban Areas ◽  
Banking Sector ◽  
Urban Climate ◽  
Dar Es Salaam ◽  
Group Model ◽  
Flood Events ◽  
Community Initiatives ◽  
Qualitative Evidence ◽  
Flexible Form

AbstractThis paper explores the role of savings groups in resilience to urban climate-related disasters. Savings groups are a rapidly growing phenomenon in Africa. They are decentralized, non-institutional groups that provide millions of people excluded from the formal banking sector with a trusted, accessible, and relatively simple source of microfinance. Yet there is little work on the impacts of savings groups on resilience to disasters. In this paper, we use a combination of quantitative and qualitative evidence from Dar es Salaam (Tanzania) to shed new light on the role that savings groups play in helping households cope with climate-related shocks. Drawing on new data, we show that approximately one-quarter of households have at least one member in a group, and that these households recover from flood events faster than those who do not. We further argue that the structure of savings groups allows for considerable group oversight, reducing the high costs of monitoring and sanctioning that often undermine cooperative engagement in urban areas. This makes the savings group model a uniquely flexible form of financing that is well adapted to helping households cope with shocks such as repeated flooding. In addition to this, we posit that they may provide a foundation for community initiatives focusing on preventative action.

Financial Access of Latin America and Caribbean Firms: What Are the Roles of Institutional, Financial, and Economic Development?

2021 ◽  
pp. 097265272110153
Author(s):  
Lan Khanh Chu
Keyword(s):  
Economic Development ◽  
Latin America ◽  
Jel Classification ◽  
Caribbean Region ◽  
Country Level ◽  
Level Data ◽  
Latin America And Caribbean ◽  
The Impact ◽  
Moderating Role

This article examines the impact of institutional, financial, and economic development on firms’ access to finance in Latin America and Caribbean region. Based on firm- and country-level data from the World Bank databases, we employ an ordered logit model to understand the direct and moderating role of institutional, financial, and economic development in determining firms’ financial obstacles. The results show that older, larger, facing less competition and regulation burden, foreign owned, and affiliated firms report lower obstacles to finance. Second, better macro-fundamentals help to lessen the level of obstacles substantially. Third, the role of institutions in promoting firms’ inclusive finance is quite different to the role of financial development and economic growth. JEL classification: E02; G10; O16; P48

scholarly journals Mergers with Differentiated Products: Where Do We Stand?

2021 ◽  
Vol 58 (1) ◽  
pp. 179-212
Author(s):  
Tommaso Valletti ◽  
Hans Zenger
Keyword(s):  
Economic Analysis ◽  
Differentiated Products ◽  
Horizontal Merger ◽  
10Th Anniversary ◽  
Merger Guidelines ◽  
Competitive Effects ◽  
Unilateral Effects ◽  
Market Shares ◽  
Differentiated Product Markets

AbstractOn the occasion of the 10th anniversary of the 2010 U.S. Horizontal Merger Guidelines, this article provides an overview of the state of economic analysis of unilateral effects in mergers with differentiated products. Drawing on our experience with merger enforcement in Europe, we discuss both static and dynamic competition, with a special emphasis on the calibration of competitive effects. We also discuss the role of market shares and structural presumptions in differentiated product markets.

When Does Psychological Fit Matter? The Moderating Role of Price on Self-Brand Congruity

2021 ◽  
pp. 194855062110283
Author(s):  
Joe J. Gladstone ◽  
Emily N. Garbinsky ◽  
Sandra C. Matz
Keyword(s):  
Brand Personality ◽  
Effect Study ◽  
Financial Resources ◽  
High Price ◽  
Psychological Profile ◽  
Psychological Mechanism ◽  
Brand Attributes ◽  
First Time ◽  
Moderating Role

People prefer brands whose perceived image reflects their own psychological profile, a finding referred to as the self-brand congruity effect. For the first time, we test this effect in the field by utilizing over 17,000 real bank transaction records (Study 1, N = 405). We demonstrate that the strength of self-brand congruity is related to the financial resources a person must spend to acquire the brand, such that the effect holds only when the brand being purchased has a high (vs. low) price. We conceptually replicate the effect (Study 2, N = 354) and provide causal evidence through an experiment (Study 3, N = 404), manipulating price and brand personality while holding other brand attributes constant. We also provide evidence for one psychological mechanism underlying why price moderates self-brand congruity, finding personality-matched brands elicit fewer concerns about postpurchase regret, a bigger risk for high-price brands (Study 4, N = 300).

scholarly journals The Role of Demand Response in the Future Renewable Northern European Energy System

Energy ◽  
2021 ◽  
pp. 121336
Author(s):  
J.G. Kirkerud ◽  
N.O. Nagel ◽  
T.F. Bolkesjø
Keyword(s):  
Demand Response ◽  
Energy System ◽  
Northern European ◽  
The Future
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