国际油价波动对日本经济均衡的影响

2005年以来,国际原油价格剧烈震荡,除实体经济层面的供求因素外,能源作为金融商品的虚拟经济属性被放大,预期、投机、突发事件、汇率波动因素等都可能成为引燃油价波动的导火索。新的油价变动特点,使日本更加难以保持经济的内外均衡。从内部看,企业、行业间的收入分配效应分散了油价上涨的通货膨胀效果,具有技术垄断优势、善于利用金融工具避险及有效采取能源分散化和节能措施的企业与行业受油价波动的冲击更小。从外部看,进口成本增加和出口成本转嫁不完全引起了日本贸易条件恶化;石油美元通过贸易渠道和资本渠道的回流,对日本的国际收支产生一定影响;日元升值因素一定程度上缓和了高油价的冲击。日本政府、企业、居民的不懈努力创造了日本经济超低能耗的奇迹,这个奇迹将日本抵御油价波动的能力变成现实。．     

国家宏观调控政策及区外市场价格波动在青海的时滞性研究

国家宏观政策和市场物价水平在地方的传导存在一定的时滞期。本研究分析货币政策、投资政策和进出口政策对青海传导的执行时滞以及农畜产品价格、工业产品价格和生活消费品价格波动对青海传导的时滞性特征，以期为相关政府部门决策提供参考。     

DEREGULATING THE DISTRIBUTION OF ELECTRICITY: PRICE AND WELFARE CONSEQUENCES OF SPATIAL OLIGOPOLY WITH UNIFORM DELIVERED PRICES*

ABSTRACT. Theoretical, spatial oligopoly models are developed and calibrated to simulate the price and welfare consequences of deregulating the retail price of electricity (the distribution function), assuming competing sources of generation supply are available. Two types of distribution competition are considered, retaining the currently used uniform delivered pricing structure: competition for customers at neighboring utilities’ borders and franchise competition. Because duplicate facilities are required for borderline competition, short-run price increases ranging between 14 and 37 percent over existing regulated prices are estimated for upstate New York, largely because deregulated prices reflect replacement, not historic, costs of facilities.     

Basic Principles of a Zonal Differentiation of Farm Procurement Prices

The zonal differentiation of farm procurement prices must be placed on a more scientific footing to help eliminate present inequities in farm incomes and labor payments throughout the country. This requires a review of price zones to insure that the natural and economic conditions of production in each zone are fairly uniform, with additional price differentiation within zones if required by differences in the natural environment (mountains compared with plains). A proper relationship between prices for different farm products within a given zone must also be observed).     

旅游产品价格波及影响：方法建构与实证测算

现阶段我国针对旅游产品价格影响范围与程度的规范性研究相对缺乏.本文借助旅游卫星账户编算中的相关产业旅游份额核算方法,通过劈分归并包含“合成”旅游业的投入产出表,通过投入产出价格影响模型,测算了旅游产品价格波动对其他产业价格水平及物价总水平的影响,以及相关产业价格水平变化对旅游产品价格的量化影响,为产业分析与旅游产品价格关系研究提供一个新视角.     

LOCATING OUTSIDE A LINEAR CITY CAN BENEFIT CONSUMERS*

ABSTRACT We investigate the effects of restricting the locations of firms in Hotelling duopoly models. In standard location‐price models, the equilibrium distance between firms is too great from the viewpoint of consumer welfare. Thus, restricting the locations of firms and shortening the distance between them improves consumer welfare by reducing prices and transport costs. We introduce strategic reward contracts into location‐price models and find that, in contrast to the above result, restrictions on the locations of firms reduce consumer welfare. These restrictions reduce transport costs but increase prices by changing the strategic commitments of the firms.     

Seventeenth-Century Glass Trade Beads from La Salle's Fort St. Louis and the Grand Village of the Kaskaskia

Abstract

Glass trade beads are described here from two seventeenth-century sites located in the upper Illinois Valley, La Salle's 1682–1691 Fort St. Louis and the nearby Grand Village of the Kaskaskia, destroyed during an Iroquois raid in 1680. Simple monochrome drawn beads characterize both bead assemblages and each contains significant percentages of very small (<2 mm) and small (2–4 mm) size beads. Dominant colors are blue, white, and black. Turquoise-blue beads were a staple of the French trade at this time in the Illinois Country, particularly in transactions involving La Salle and his successors based at Fort St. Louis. Comparative treatment provided as part of this research indicates that there are significant similarities between the bead assemblage from Fort St. Louis and the beads recovered from the 1686 wreck of La Salle's ship Belle in Matagorda Bay off the Texas coast.     

Dimensions of Spatial Price Dispersion Before and After the Crash of 1929

The spatial and temporal patterns of prices are analyzed over the 1919–40 period. Arguments are made for the distinctiveness of different economic episodes, including the crash of 1929, in terms of their local price effects. Nevertheless, it is also shown that the variability between cities and between components of their price series declined through the early 1940s. Alternative conceptions of spatial price systems are introduced, and due regard is also given to the structure and interpretation of city CPI data. Implications are drawn regarding the proper design of a theory that would explain the observed patterns of spatial price dispersion. This larger project is left, however, to another time.     

ECONOMETRIC ANALYSIS OF HOUSING TRAIT PRICES IN A THIRD WORLD CITY*

ABSTRACT. A first step in the process of economic analysis of housing markets in Third World cities is the econometric analysis of housing trait prices. The information on market price of housing is basic to the derivation/estimation of other market parameters such as housing demand and supply elasticities. In addition, housing trait prices constitute invaluable inputs into the analysis of effects of government housing programs. This paper presents estimates of housing trait prices in a Third World city housing market, the city of Jos in Nigeria. Nonlinear stochastic specification of a policy constrained hedonic price function is presented as an unbiased estimator of housing trait prices. The Box-Cox statistical procedure was employed in the paper to obtain hedonic regression coefficients which are the parameters needed to compute the average prices evaluated both at the mean of each trait and at their margins. The potential uses of housing trait prices for policy analysis are discussed briefly.     

Residential Development,Risk, and Land Prices

This paper examines the relationship between the residential development sequence and land price. Inherent in the dynamics of residential development is that the first consumers face the greatest risk since they do not know with certainty what the neighborhood characteristics will be; subsequent consumers have more information. The model predicts that land prices will rise over time relative to the market; developers offer the first consumers discounted land prices to compensate them for the first-mover disadvantage. The empirical evidence indicates that this is indeed the case.     

亚洲溢价--中日能源的共同困境

由于中东石油输出国对同一时间出口到不同地区的同种原油采用不同的计价公式,使亚洲原油进口价格高于欧美等国的进口价格,形成亚洲溢价。进入21世纪以来,亚洲溢价程度加深,范围扩展。本文在介绍亚洲溢价基础上着重分析了亚洲溢价对中日两国的不利影响以及亚洲溢价的产生原因,提出通过培育亚洲原油定价中心、中日联合采购等途径削减亚洲溢价,能维护亚洲能源进口国的利益。     

Testing for the Law of One Price and Identifying Price-Leading Markets: An Application to Corn Markets in Benin

A data-determined method is proposed to test for the law of one price as a long-run equilibrium condition and to identify which markets in a network of spatially dispersed commodity markets quote the reference price. The method consists of supplementing Johansen's FIML cointegration procedure with a permanent-transitory decomposition and rules of inference in linear time-series models with unit roots. As an example, we apply our method to prices of six corn markets in Benin. We find that the law of one price holds in the long-run. It appears that two rural markets quote the reference price: their prices adjust fastest towards the permanent change induced by the common stochastic trend.     

SPATIAL ENTRY DETERRENCE UNDER OLIGOPOLY*

ABSTRACT. This paper examines colluding, oligopolistic firms in a linear market. By assuming that rivals do not compete for consumers at their market boundaries, it is shown that an equilibrium exists without adopting a convex transportation cost function. Two price profiles are derived. The first describes firm prices in the absence of threatened entry. The second details profit-maximizing prices which forestall entrants. Given infinite relocation costs, threatened entry leads to price adjustments by the incumbent firms.     

Money and prices in thirteenth-century Venice

Prices and salaries rose in Venice between 1173 and 1282. The supply of money also probably increased. Wine, grain, and commodity prices, as well as magistrates' salaries, are here collected from documentary sources to illustrate this rise in prices. Evidence from silver mining, foreign trade, banking, and diplomacy seems to demonstrate an increase in the supply of money, but price inflation (the Fisher equation, MV = PT) cannot be definitely illustrated because velocity and transaction costs cannot yet be established for medieval Venice. To clarify these prices, this study also briefly describes the coins and moneys of account used in Venice in this century.     

Duopoly prices under congested access*

Abstract. Consider two firms, at different locations, supplying a homogenous good at constant marginal production cost. Consumers incur travel costs to the firm for each unit purchased, and the travel costs increase with the amount of travel to each firm (congestion). When all traffic and all congestion are generated by travel to a duopolist, both the Nash–Bertrand equilibrium prices and the Nash–Cournot equilibrium prices exceed the sum of the marginal production cost and the marginal external travel cost. However, when the road is shared by travelers to the duopolists' facilities and travelers in competitive markets, the Nash–Bertrand duopoly price equals the competitive price and the Nash–Cournot price contains a markup.     

MEASURING CONTRIBUTING FACTORS TO INTERREGIONAL AGRICULTURAL LABOR PRODUCTIVITY DIFFERENTIALS: A JOINT PROFIT FORMULATION*

ABSTRACT Using Taylor series approximations of joint profit functions, a methodology is outlined to quantify interregional differentials in the Canadian agriculture sector by region and to quantify the contributing factors to regional labor productivity differences. These contributing factors are output price differentials–both crop and livestock, differentials in “land and buildings” capital deepening, “other” capital deepening, energy prices, other material prices, and efficiency. The joint profit formulation permits the analysis of effects of regional specific output price and output mix differentials.     

SPATIAL HEDONIC MODELS OF AIRPORT NOISE,PROXIMITY, AND HOUSING PRICES*

ABSTRACT Despite the refrain that housing prices are determined by “location, location, and location,” few studies of airport noise and housing prices have incorporated spatial econometric techniques. We compare various spatial econometric models and estimation methods in a hedonic price framework to examine the impact of noise on 2003 housing prices near the Atlanta airport. Spatial effects are best captured by a model including both spatial autocorrelation and autoregressive parameters estimated by a generalized moments approach. In our preferred model, houses located in an area in which noise disrupts normal activities (defined by a day–night sound level of 70–75 decibels) sell for 20.8 percent less than houses located where noise does not disrupt normal activities (defined by a day–night sound level below 65 decibels). The inclusion of spatial effects magnifies the negative price impacts of airport noise. Finally, after controlling for noise, houses farther from the airport sell for less; the price elasticity with respect to distance is −0.15, implying that airport proximity is an amenity.     

Facility Location Under Zone Pricing

Zone pricing consists in determining simultaneously several delivered prices together with the zones where these prices apply. A model and algorithm are proposed to determine optimal facility locations, prices, tariff-zones, and market areas in order to maximize the firm's profit under zone pricing. The resulting nonlinear mixed-integer program is tackled by projecting the objective function on the price space, solving repeatedly uncapacitated facility location problems for fixed values of the prices. The implicit profit function so defined is optimized by branch-and-bound. Computational results are reported.     

Fixed or free book prices: is a hybrid system superior?

One of the main issues in the literature on the economics of books is whether or not a fixed‐price system is better than a free‐price system in providing a wide variety of cheap books. Although numerous studies have been carried out, this issue remains unresolved. Since 1962 Norway has had a fixed‐price system, regulated by a book trade agreement between the publishers’ and booksellers’ associations. On 1 May 2005, Bokavtalen, a new book trade agreement was introduced, representing a new step in a long‐term trend towards a less regulated book trade, and the price system is now actually a hybrid of fixed and free prices. The evaluation is mainly based on extensive use of multivariate regression analyses. Some of the results suggest that the hybrid price system is superior to the old one with regard to each of price, sales, reading and number of titles.     

基于POI大数据的老工业区房价影响因素空间分异与实证

在采集沈阳市铁西区2017年住宅、工厂、地铁站等兴趣点数据的基础上,将工厂距离、房龄以及住宅密度三个变量与传统变量共同参与构建地理加权回归模型,揭示房价影响因素的空间异质性及形成机制。结果表明：在全区范围内,房龄、住宅密度、公共交通、公共配套设施等对房价有显著的提升作用,而工业企业等对房价有一定的抑制作用;新老城区对比来看,所筛选的影响因素与房价的相关性具有显著的空间非平稳性,具体表现在工厂距离、公交密度、商场距离等因素在新老城区的正负影响差异,以及住宅密度、地铁站距离等单向影响因子回归系数的强度渐变;从研究方法来看,基于POI与GWR集成分析,可以有效克服房价实时更新慢、准确度低及数据清洗困难等传统难题,从而为构建和发展新数据环境下的经济地理研究提供参考。