Menu Costs, Relative Prices, and Inflation: Evidence for Canada

1998 ◽  
Author(s):  
Robert A. Amano ◽  
Tiff Macklem
Keyword(s):  
Menu Costs ◽  
Relative Prices

Competitive and Complementary Relations in International Travel: The Case of British Travel to Cyprus

2019 ◽  
Vol 10 (5) ◽  
pp. 395-420
Author(s):  
Petros Anastasopoulos ◽  
Keyword(s):  
Strong Association ◽  
International Travel ◽  
Relative Price ◽  
Annual Data ◽  
Export Demand ◽  
Relative Prices ◽  
Vector Error Correction ◽  
Vector Error ◽  
The Mediterranean ◽  
Demand Equations

This is an econometric analysis of demand for travel to Cyprus by Britons. We examined the competitive and complementary relations between travel to Cyprus and other well-established travel destinations in the Mediterranean basin. Because many package tours include several countries in their destinations within a given journey, and because individual travelers find it more advantageous to visit more than one country in a single trip, it may be meaningful to examine international travel within the contest of groups of countries rather than a single country competing for international travelers. Specifically, we provide an analysis of the competitive and complementary relations existing between the tourism sectors of Cyprus and that of Greece, Spain and Portugal for British travelers. We provide estimates of income and relative price elasticities based of export demand equations upon annual data from 1980-2016. We tested for the stationarity of the variables and derived estimates of the Vector Error Correction Model (VECM). These tests confirm a strong association between the incomes of Britons and their decision to travel to Cyprus. Furthermore, we show the relative prices between Cyprus and other competing destinations in the Mediterranean to play an important role in determining British travel to Cyprus.

“Analytical Techniques for Development Planning” (A Review Of Tims' Multisector Model For Pakistan'S Third Plan (1965-70))

1968 ◽  
Vol 8 (2) ◽  
pp. 240-263
Author(s):  
Azizur Rahman Khan
Keyword(s):  
Analytical Techniques ◽  
Development Planning ◽  
General Idea ◽  
Relative Prices ◽  
Scarce Resources ◽  
Sectoral Output ◽  
Consistency Model ◽  
Present Decade ◽  
Optimizing Model ◽  
Multisector Model

In the present decade there has been a great proliferation of multisectoral models for planning. Part of the incentive has certainly been the potentiality of their application in formulating the actual plans. By now there have been so many different types of multisectoral models that it is useful to attempt some kind of classification according as whether or not they embody certain well-known features. The advantage of such a classification is that one gets a general idea about the structure of the model simply by knowing where it belongs in the list of classification. One broad principle of classification is based on whether the model simply provides a consistent plan or whether it also satisfies some criteria of optimality. A multisectoral consistency model provides an allocation of the scarce resources (e.g., investment and foreign exchange) in such a way that the sectoral output levels are consistent with some given consumption or income target, consistency in this context meaning that the supply of each sector's output is matched by demand generated by intersectoral and final use at base-year relative prices. To the extent that the targets are flexible, there may be many such feasible plans. An optimizing model finds the "best" possible allocation of resources among sectors, the "best" being understood in the sense of maximiz¬ing > a given preference function subject to the constraints that ensure that the plan is also feasible.

Cheap Donuts and Expensive Broccoli: The Effect of Relative Prices on Obesity

2009 ◽  
Author(s):  
Jonah B. Gelbach ◽  
Jonathan Klick ◽  
Thomas Stratmann
Keyword(s):  
Relative Prices

The Effects of Menu Costs on Retail Performance: Evidence from Adoption of the Electronic Shelf Label Technology

2020 ◽  
Author(s):  
Ioannis Stamatopoulos ◽  
Achal Bassamboo ◽  
Antonio Moreno
Keyword(s):  
Shelf Life ◽  
Operations Management ◽  
Cost Savings ◽  
Labor Cost ◽  
Price Adjustment ◽  
Menu Costs ◽  
Price Changes ◽  
Product Categories ◽  
Material Costs ◽  
Gross Margins

We use the adoption of electronic shelf labels (ESLs) by an international grocery retailer in 2015 to identify the effects of physical menu costs (i.e., labor and material costs of price adjustment) on retail performance. We find that the installation of ESLs increased gross margins substantially, which implies profit gains that go far beyond labor cost savings. We also explore the mechanism behind this effect. We find that the lift in gross margins was associated with an increase in quantity sold and a decrease in price per unit sold, and that the lift primarily came from low-shelf life product categories. Moreover, we find that more and smaller price changes occurred with ESLs. These additional price changes were mostly price decreases, and they were dispersed in time. Our findings are consistent with reductions in both variable and fixed menu costs (i.e., both costs that scale with the number of products affected and costs that do not). This paper was accepted by Vishal Gaur, operations management.

scholarly journals EXPLORING CROSS-COUNTRY VARIATION IN GOVERNMENT SHARES: WHAT CAN WE LEARN FROM RELATIVE PRODUCTIVITIES?

2012 ◽  
Vol 17 (2) ◽  
pp. 356-372 ◽  
Author(s):  
Maksym Obrizan
Keyword(s):  
Relative Price ◽  
Total Output ◽  
Government Consumption ◽  
Strong Negative Correlation ◽  
Empirical Observation ◽  
Relative Prices ◽  
Neoclassical Growth Model ◽  
Poor Countries ◽  
Cross Country ◽  
Neoclassical Growth

Government shares in total output are characterized by significant variation across countries. I noticed a strong negative correlation between government consumption shares and the price of government services in terms of private consumption. Motivated by this empirical observation, I developed a neoclassical growth model with added government that is capable of matching the variation in government shares very closely using only relative prices. In addition, I provide empirical evidence showing that the relative price of government consumption increases with income, which is consistent with distortions prevailing in poor countries. These two observations combined imply that government shares tend to be higher in poorer countries.

Comovements in aggregate and relative prices

1987 ◽  
Vol 20 (1) ◽  
pp. 155-168 ◽  
Author(s):  
B.Dianne Pauls
Keyword(s):  
Relative Prices

scholarly journals Taxing Food to Improve Health: Economic Evidence and Arguments

2007 ◽  
Vol 36 (2) ◽  
pp. 174-182 ◽  
Author(s):  
Sean B. Cash ◽  
Ryan D. Lacanilao
Keyword(s):  
Public Health ◽  
Health Economic ◽  
Health Outcomes ◽  
Tax Policy ◽  
Economic Evidence ◽  
Relative Prices ◽  
Health Objectives ◽  
Improve Health

Many observers have suggested that tax policy can be used to change the relative prices of foods in ways that will produce desirable health outcomes. We briefly review the economic evidence regarding such claims, and discuss several conceptual and pragmatic issues surrounding the use of such interventions to achieve public health objectives.

Sign in / Sign up

Export Citation Format

Share Document