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Elasticity Estimates (elasticity + estimate)
Selected AbstractsTransition, development and the supply of wheat in ChinaAUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 4 2000Scott Rozelle The overall goal of this article is to better understand the factors that influence China's wheat supply. We assess trends in China's wheat output and develop a framework to measure the relationship between output and key determinants of China's wheat sector growth. Elasticity estimates and factor growth trends help decompose the growth of reform-era wheat supply into its component parts. The results show that growth in the early reform period was due to institutional change and technology. In the late reform period, however, with the returns to institutional change exhausted, all of China's growth in wheat supply was due to technology, a result that implies China's government should invest heavily in agricultural research and development. [source] Alcohol, suppressed anger and violenceADDICTION, Issue 9 2010Thor Norström ABSTRACT Aims Is alcohol related causally to violence, and if so, is the effect of drinking contingent on suppressed anger such that it is strongest among individuals who are highly inclined to withhold angry feelings? We addressed these questions by analysing panel data using a method that diminishes the effects of confounding factors. Design We analysed data on heavy episodic drinking and violent behaviour from the second (1994) and third (1999) waves of the Young in Norway Longitudinal Study (n = 2697; response rate: 67%). The first difference method was applied to estimate the association between these behaviours, implying that changes in the frequency of violence were regressed on changes in the frequency of drinking. Hence, the effects of time-invariant confounders were eliminated. Analyses were conducted for the whole sample, and for groups scoring low, medium and high on a short version of the STAXI anger suppression scale. Findings Changes in drinking were related positively and significantly to changes in violent behaviour, but the alcohol effect varied with the level of suppressed anger: it was strongest in the high-anger group (elasticity estimate = 0.053, P = 0.011) and weakest (and insignificant) in the low-anger group (elasticity estimate = 0.004, P = 0.806). Conclusions Alcohol use may be related causally to violence, but the effect of drinking is confined to individuals who are inclined to suppress their angry feelings. [source] THE DEMAND FOR BEER, WINE AND SPIRITS: A SURVEY OF THE LITERATUREJOURNAL OF ECONOMIC SURVEYS, Issue 3 2010James Fogarty Abstract The demand for alcohol literature is vast and much conflicting information about the nature of the demand for alcoholic beverages has been published. This paper presents a survey of the literature, and then uses the technique of meta-regression analysis to establish insights into the nature of the demand for beer, wine and spirits. Unlike previous meta-studies of the demand for alcoholic beverages this study adjusts for the precision of each elasticity estimate. The analysis presented suggests reported elasticity estimates will be influenced by such factors as estimation technique, data frequency and time period under consideration. With respect to time, the findings suggest that the demand for alcoholic beverages has become less inelastic since the mid-1950s and that the income elasticity has been falling since the mid-1960s. The analysis also found support for the idea that alcohol as a commodity group is a necessity, and that consumers respond to price discounting with inventory behaviour rather than true substitution behaviour. Little support is found for the idea that the demand for alcoholic beverages varies fundamentally across most countries, although wine may be an exception. [source] The income elasticity of tax revenue: estimates for income and consumption taxes in the United KingdomFISCAL STUDIES, Issue 1 2004John Creedy Abstract This paper provides estimates of individual and aggregate revenue elasticities of income and consumption taxes in the UK over the period 1989,2000. It shows how budgetary changes, including changes to income-related deductions, have substantially affected income elasticities. The estimates of consumption tax revenue elasticities show that changes in consumption patterns over time are important. A merit of the approach used here is that elasticity estimates can be calculated readily from official published sources. [source] The Impact of Public School Attributes on Home Sale Prices in CaliforniaGROWTH AND CHANGE, Issue 3 2000David E. Clark The quality of public schools is often cited as an important attribute which distinguishes a community. Indeed, a recent public opinion poll conducted by the California Public Education Partnership indicates that residents rank improvements in public education higher than such high profile issues as environmental quality and crime reduction. In order to explore the role of educational quality in determining residential property values, a hedonic housing price model is used on a large sample of homes which sold within Fresno County in California over the period 1990-1994. After controlling for a wide range of housing characteristics and neighborhood features, the findings indicate that the school district does significantly influence the real sale price. Then the relative importance of inputs into the production of educational services is investigated as compared to output measures of productivity. These findings suggest that both input and output measures are important. However, elasticity estimates of input measures tend to be higher than those of output measures, with the average class size by far the strongest influence. There is some evidence to suggest that the benefits of additional teachers likely outweigh the costs. Finally, the findings suggest that attributes of schools are more highly valued by local residents than either crime or environmental quality measures within the community. [source] The effects of pay and job satisfaction on the labour supply of hospital consultantsHEALTH ECONOMICS, Issue 12 2007Divine Ikenwilo Abstract There is little evidence about the responsiveness of doctors' labour supply to changes in pay. Given substantial increases in NHS expenditure, new national contracts for hospital doctors and general practitioners that involve increases in pay, and the gradual imposition of a ceiling on hours worked through the European Working Time Directive, knowledge of the size of labour supply elasticities is crucial in examining the effects of these major changes. This paper estimates a modified labour supply model for hospital consultants, using data from a survey of consultants in Scotland. Rigidities in wage setting within the NHS mean that the usual specification of the labour supply model is extended by the inclusion of job quality (job satisfaction) in the equation explaining the optimal number of hours worked. Generalised Method of Moments estimation is used to account for the endogeneity of both earnings and job quality. Our results confirm the importance of pay and non-pay factors on the supply of labour by consultants. The results are sensitive to the exclusion of job quality and show a slight underestimation of the uncompensated earnings elasticity (of 0.09) without controlling for the effect of job quality, and 0.12 when we controlled for job quality. Pay increases in the new contract for consultants will only result in small increases in hours worked. Small and non-significant elasticity estimates at higher quantiles in the distribution of hours suggest that any increases in hours worked are more likely for consultants who work part time. Those currently working above the median number of hours are much less responsive to changes in earnings. Copyright © 2007 John Wiley & Sons, Ltd. [source] THE DEMAND FOR BEER, WINE AND SPIRITS: A SURVEY OF THE LITERATUREJOURNAL OF ECONOMIC SURVEYS, Issue 3 2010James Fogarty Abstract The demand for alcohol literature is vast and much conflicting information about the nature of the demand for alcoholic beverages has been published. This paper presents a survey of the literature, and then uses the technique of meta-regression analysis to establish insights into the nature of the demand for beer, wine and spirits. Unlike previous meta-studies of the demand for alcoholic beverages this study adjusts for the precision of each elasticity estimate. The analysis presented suggests reported elasticity estimates will be influenced by such factors as estimation technique, data frequency and time period under consideration. With respect to time, the findings suggest that the demand for alcoholic beverages has become less inelastic since the mid-1950s and that the income elasticity has been falling since the mid-1960s. The analysis also found support for the idea that alcohol as a commodity group is a necessity, and that consumers respond to price discounting with inventory behaviour rather than true substitution behaviour. Little support is found for the idea that the demand for alcoholic beverages varies fundamentally across most countries, although wine may be an exception. [source] Econometric evidence of cross-market effects of generic dairy advertisingAGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 1 2010Metin Cakir We estimate a dairy demand system to evaluate generic dairy advertising in the US, 1990,2005. Previous empirical studies of generic dairy advertising focus only on the market of the advertised good, ignoring potential spill-over and feedback effects. We specify an LA/AIDS model of dairy demand, which allows consistent estimation of cross-price and cross-advertising effects across dairy product markets, and is flexible and satisfies the axioms of consumer theory. We use the non-linear 3SLS estimator to address endogenous prices and serial correlation, and conduct bootstrapping to generate empirical distributions of elasticity estimates. Results suggest that cross-market effects are economically and statistically important. Thus, econometric dairy demand models that ignore cross-advertising and cross-price effects are mis-specified. Previous work that ignores substitution between fluid milk and cheese overstates producers' returns to generic advertising for either product. © 2010 Wiley Periodicals, Inc. [source] Demand for milk labels in Germany: organic milk, conventional brands, and retail labelsAGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 2 2008Astrid Jonas German milk brands have come under significant price pressure due to the introduction of retail labels at the lower price end and of organic milk as a premium product. This analysis provides elasticity estimates by milk types and analyzes sociodemographic determinants of demand. A censored system of German household demand for organic and conventional milk, further separated into retail-label and brand milk, is estimated using a two-step procedure on data from the 2000,2003 German GfK ConsumerScan Houshold Survey. Own-price elasticities of conventional milk are around unity, but the demand for organic milk is very price-elastic. Results suggest that the price of organic milk should be considered as an important marketing instrument. [JEL-Code: D12, Q11]. © 2008 Wiley Periodicals, Inc. [source] | |||||||||||||