The estimated price elasticity of -2.4 refers to exports excluding oil and gas and their products. In general, price elasticity is higher when a country is specialised in low and medium technology goods. Excluding oil and energy products, Russia in fact is specialised in wood, mineral products, fish and fur-skins. By contrast, price elasticity is lower in countries whose trade includes a higher proportion of exported goods offering more opportunities for differentiation, which can be based on factors such as technological sophistication, quality or brand image. In a previous estimation conducted on the Russian export demand inclusive of oil and its products, we found a foreign demand for Russian products quite inelastic to prices (0.79). The reason can be traced back to the fact that the demand for oil and all energy products is not influenced that much by changes in prices. This means that in this latter case, a reduction in prices of 10% would cause a rise in exportsof only 8%.
Kulendran  analyzed the effects of marketing expenditure on tourism demand for Australasia using the ARDL model. They found that both the ‘word-of- mouth effect’ and visitor’s satisfaction arrives to repeat visits also play an important role in promoting international tourist arrivals to Australia. Algieri  used the VAR model to investigate the determinants of tourism receipts in Russia. The results show that the significant long-run cointegration relationship between Russian tourism receipts, real exchange rates, world GDP and air transport prices. Through an ARDL model, Narayan  studied the tourism demand from Australia, New Zealand and the USA to Fiji for the period 1970-2000. He found that the tourism price is an important determinant of Fiji’s tourism demand. A 1% increase in the cost of a holiday in Fiji relative to Bali leads to a decrease in tourists to Fiji of 5.1, 2.5 and 2.4% from the USA, Australia and New Zealand, respectively. Song et al.  investigated tourism demand for Thailand and showed that the own priceand cross price variables significant affects of decision making process of residents from Australia, Japan, Singapore and the UK. Their study also demonstrated that the terrorist attacks on the USA on 11 September 2001 and the war on Iraq and the SARS epidemic in 2003, significant affects on international tourism demand to Thailand. Ouerfelli  implied that the relative prices andincome are highly elastic for tourists to Tunisia. In addition the supply factor (hotel room) is significant in the destination choice decision especially for French and Italian tourists. Through an Error Correction (ECM) Model Dritsakis  found that the long-run relationship among important economic variables determining German and United Kingdom tourism demand to Greece.
ABSTRACT - the aim of this work was to estimate the parameters associated to the demand for açaí pulp in the retail market of Belém. multiple regression analysis was applied to identify the key variables that impact on product consumption and to estimate the priceandincomeelasticitiesand cross demand. the econometric estimation method applied was the least squares to correct heteroscedastic variance problems. Results have shown that the demand for açaí pulp is priceandincome inelastic. Fish and cassava flour were confirmed as complementary products of strong influence on the decisions of consumers. Product quality, with regard to its association to Chagas disease, also revealed a strong influence on product choice for household consumption. Finally, the socio-economic benefit of açaí pulp was R$ 762.78 million per year. Index terms: açaí market, demand elasticities, food safety, amazon.
Within the commodities price boom, Brazil experienced rising dependency on primary exports, along with falling inequality (as a result, among others, of extensive distributive programs). However, productivity growth was meager during the period. Not only this path is unsustainable in the medium run, but may also have harmed the long-run growth consistent with BOP equilibrium. This paper discusses, in a BOP-dominated macrodynamic model based on Ribeiro et al. (2016), the impact of Brazilian distributive policies in the BOP- constrained rate of growth. It is suggested that distributive programs can harm long- term growth due to rising income elasticity of imports and higher technological gap. Lastly, it is argued that the right balance of public investment and distributive programs would allow a virtuous cycle of growth andincome distribution to emerge.
In addition to this model, we have also tested the hypothesis in other models. As a first attempt, we tried to estimate a similar equation, but instead of using data regarding the trade flows between China and the European Union, we used data relating to the trade flows between China and the world. From these data, it was found that the majority of variables were not stationary and there was no co-integration between them. In an estimation by the VAR model in first differ- ences the variable was not statistically significant, namely the effective RER, so the solution was to estimate an OLS model, also in first differences, in which, only the effective RER was shown to influence Chinese exports. Later, we de- cided to include the FDI as an explanatory variable, which afforded an improve- ment in the model, to the extent that the variable “d_l_worldGDP” became sig- nificant. However, these results were supported in too short a time period, between 1995 and 2009, with annual frequency. Another assay resulted in a new specification for the theoretical model, which dropped the RCAs, and the GDP of China andof the world, and allowed for the inclusion of a measure of foreign demand. The results of this method have not been fully satisfactory. The achieve- ment of results was only possible if we followed in full, the methodology ad- opted by Herrero and Koivu (2007). This methodology stemmed from a Johansen co-integration test for an estimation according to the Engle-Granger method 31 ,
The professional fisheries in the Billings reservoir mainly consist of cast nets and gill nets in motor canoes made of wood or aluminum with engines from 2 to 30 HP, crewed by one or two fishers. The gill net may be used actively in a fishery locally known as batida (beating) where the fishers beat the water surface with a bamboo stick to guide the Nile tilapias towards the net (Minte-Vera & Petrere, 2000). The tilapias are also caught with cast nets. The lambari (Astyanax eigenmaniorum, A. bimaculatus), carp (Cyprinus carpio), traíra (Hoplias aff. malabaricus) and sagüiru (Cyphocarax modestus) are caught with passive gill nets. Gill nets are set mainly overnight. Most of the fishers maintain an informal commitment of exclusivity with the middlemen (Minte-Vera et al., 1997). Nile tilapia catches are higher in areas close to Pedreira Pumping Station (Minte-Vera, 1997). Besides professional fishing, a sport called ravine fishing is also practiced by thousands of recreational fishers.
Once converted to energy, records were classiﬁ ed into the following food groups: cereals and derived products; beans and other legumes; tubers and derived precuts; meat, dairy, and derived products; eggs; fruits and natural juices; leaf vegetables and other vegetables; oils and vegetable fats; animal fats; oleaginous seeds; condiments; non-alcoholic beverages; alcoholic beve- rages; ready-made meals and industrialized mixes; and processed foods (including soft drinks and artiﬁ cial jui- ces, biscuits and cookies, sweetened processed cereals, processed meats, sweets, and sauces and broths). The participation of each food group in the total food availability of each household was expressed based on the percentage of the total calorie content derived from that group. In the case of FV, we also calculated the total amount of calories derived from these foods adjusted for the total calories consumed by the family. This adjusted total is obtained based on the residues of linear regression models that have calories from FV as the outcome variable and total calories as the explana- tory variable. To avoid null or negative values (which could not be subjected to the logarithmic transforma- tions necessary for calculating elasticity coefﬁ cients), an equal number was added to the residues from the regression models so that the smallest value resulting
This paradoxical effect can be probably explained by the influence of multiple re-melting. Every re-melt is material exposed to surrounding atmosphere, what results in a formation of more oxide films. The surface oxide films are entrained into the melt, what causes high porosity of test sample and so reduce effective section during a tensile impact test.
CHINA MOBILE DOW JONES CHINA BROAD MKT INDEX- PRICE INDEX CHINESE YUAN TO US $ - EXCHANGE RATE CHINA NETCOM GP. DOW JONES CHINA BROAD MKT INDEX- PRICE INDEX CHINESE YUAN TO US $ - EXCHANGE RATE CHINA TELECOM 'H' DOW JONES CHINA BROAD MKT INDEX- PRICE INDEX CHINESE YUAN TO US $ - EXCHANGE RATE CHINA UNICOM DOW JONES CHINA BROAD MKT INDEX- PRICE INDEX CHINESE YUAN TO US $ - EXCHANGE RATE
4. Bobrova A.I. Birch Bark Bundles with Dolls from the Tiskinsky Burial Mound // The Cultural Space in the Archeological and Ethnographic Dimension. Western Siberia and Adjacent Territories / Proceedings of XII Western Siberian Archeological and Ethnographic Conference. Tomsk. Gos. Un-ta Publ., 2001, pp. 9–10. (In Russian).
Figures 3,4,5 show changes in the value of the contact angle in a quartz-binder system. Figure 3 illustrates the quartz wetting characteristics using an unmodified binder, while Figures 4 and 5 show the results of analogical measurements taken for the binder modified with 1 or 3 wt.% of the modifier.
his paper analyses the relationship between income inequality and output in Russian regions. Such study, based on modern econometric techniques, is novel for Russia. he author uses diferent economic indicators for Russian regions and estimates the ixed efects model for the period from 2000 to 2011. he results indicate that there is a positive relationship between income inequality measured by Gini coeicient and real per capita gross regional product. Hence, the distribution of beneits of economic growth and losses due to economic contraction was unequal in this period. he decline of inequality was attributable to interregional migration processes, the rise in social expenditure and the ratio of employees with a higher level of education to the employees with a lower level of education. However, the increase in the share of irms implemented technological, management and marketing innovations caused the upswing in income disparity due to monopolistic efects.
Connections between prices are the relationships between the different price categories from the point of view of structural elements. The existence of a price system requires ensuring of precise connections between different categories ofpriceof the same product, depending on the economic circuit stages that a product goes through. For example, the connection between the wholesale priceof a product taken over from the producers and the retail price is done by trade margins due to wholesale units and retail and VAT due to state budget. Because of these links, changing of prices of a class, trains modifications of connecting elements or may cause changes of the prices in the other categories. Mutual link of different price categories should not be seen as an automatic dependency between them. Given the specific functions and the different relative role of categories of prices without it to necessarily train or simultaneously and equally, adjusting the priceof the other categories. Thus, the wholesale prices modification for some products not necessarily involve adjusting the retail price, or if involved, this can be done later, correlated with other measures concerning the protection of the population. Are also distinguished the economic consequences of changing various prices categories.
Hong and Shum (2006) show equilibrium restrictions in a search model can be used to identify quantiles of the search cost distribution from observed prices alone. These quantiles can be di¢cult to estimate in practice. This paper uses a minimum distance approach to estimate them that is easy to compute. A version of our estimator is a solution to a nonlinear least squares problem that can be straightforwardly programmed on softwares such as STATA. We show our estimator is consistent and has an asymptotic normal distribution. Its distribution can be consistently estimated by a boostrap. Our estimator can be used to estimate the cost distribution nonparametrically on a larger support when prices from heterogeneous markets are available. There we propose a two-step sieve estimator. The …rst step estimates quantiles from each market. They are used in the second step as generated variables to perform nonparametric sieve estimation. We derive the uniform rate of convergence of the sieve estimator that can be used to quantify the errors incurred from interpolating data across markets. To illustrate we use online bookmaking odds for English football leagues’ matches, as prices, and …nd evidence that suggests search costs for consumers have fallen following a change in the British law that allows gambling operators to advertise more widely.
There were three borrower characteristics that show significant positive relationships with the probability of default. The size of the business (Wald test=6.833; B=2.023) which were coded as small or large had significance value of 0.009 and odds ratio 7.558 meaning it could predict default as many as over 7 times. Brehanu and Fufa (2008) reported that usually small businesses are potential defaulters than large size businesses. The same is confirmed in this study because about 52% of the businesses involved were small scale types and it is not surprising they show significantly positive relation with default probability. The study again reports that multiple borrowing (Wald test=9.517; S.E=0.726; B=2.241; sig=0.002) show significant positive relation with default probability predicting default probability by about 9times. When customers have loans with other institutions, there is too much pressure and demand on the resources of the business and defaulting becomes an option for such a borrower. Jimenez and Saurina (2003) found same result in their study. Diversion of loan purpose (Wald test=5.568; B=2.461; sig=0.018) showed positive significant relation with default probability and could predict the outcome variable by about 12times. The result is consistent with Claessend, Krahnen and Lang (2005). When loans meant for business expansion are used for other purposes, it is more likely that the motivation to repay promptly will be jeopardized.
The risk management mechanism discussed along this thesis, index-based insurance, can be one more effective tool to manage European agriculture price volatility. This tool allows each farmer to manage their own risk, as the CAP has been promoting. This way, being more protected against hazards, it would be possible for the EU farmers to keep their competitiveness in the global market. If it is taken into consideration the effects of more intense weather phenomena caused by climate change, it is key to protect agriculture against as many perils as possible. Furthermore, risk management should be more encouraged by the CAP post 2020, to make it available to all as soon as possible. Moreover, special emphasis should be made on complementary training to farmers, to make sure they know the risks they are exposed to and how to manage them with expertise.
Relative advantage is defined as the extent to which a person views an innovation as offering an advantage over previous ways of performing the same task (Roger, 1983; Agarwal & Prasad, 1997). Because Internet banking services allow customers to access their banking account from any location 24 hours a day and 7 days a week, it provides an enormous advantage and convenience to users (Tan & Teo, 2000). It also gives customers greater control over managing their finances, as they are able to check their accounts easily. Besides, a customer’s Internet experience, his or her banking needs can affect his adoption. As there are more financial products and services, it is expected that individuals with many financial accounts and who subscribe to many banking services will be more inclined to adopt Internet banking. Tan and Teo (2000) has reported that potential adopters of Internet banking services are likely to own multiple banking accounts and subscribe to various banking services. Rogers argues that potential adapters, who are allowed to experiment with an innovation will feel more comfortable with the innovation and are more likely to adopt it. Thus, if customers have the opportunity to try the innovation, certain fears of the unknown may be minimized. Government policy could also aid or hinder Internet diffusion (Mbarika, 2002). This is consistent with the national systems of innovation theory that posits that government policies may encourage or mandate technology development and adoption (King et. al., 1994; Wolcott et. al., 2001). Tan and Teo (2000) suggest that the greater the extent of government support for Internet commerce, the more likely Internet banking will be adopted, thus, confirming Goh’s (1995) suggestion that governments can play an interventionist and leading role in the diffusion of innovation. Potential users in turn would view new applications such as Internet banking services more favorably and hence be more like to use them. Thus, the second alternative hypothesis is:
were pig iron, steel scrap, Fe-75%Si, Fe-80%V and Fe-80%Nb and Fe-80%Mn-8%N. The metal was preheated at 1500 o C and then poured into sand mould to get normalized Y-shaped castings. Spheroidizing and inoculation process was made in gating system using Fe-Si-5%Mg alloy, and Foundrysil inoculant containing 0,5 % Ce in amounts 1,0 % and 0,8 % with relation to bath weight, respectively. One of the purpose of our research is to develop a method of nanoparticles synthesis in ferritic matrix of ductile cast iron, which are supposed to increase its strength without affecting notably its ductility.