Search results for "consumption"
showing 10 items of 1796 documents
Piero Sraffa on utility and the 'subjective method' in the 1920s: A tentative appraisal of Sraffa's unpublished manuscripts
2001
The paper reconstructs Sraffa's assessment of utility-based and individualistic explanations of demand in Marshallian economics in the light of some fresh evidence provided by Sraffa's unpublished manuscripts of the 1920s. It is shown that Sraffa criticised the standard Marshallian explanation of individual consumption choices, emphasised the independent measurement requirement in explanation, lacked enthusiasm for the heuristic potentialities of the 'subjective method' in economic theorising and strove for an analysis of the phenomena of interdependence in the sphere of production as well as in the sphere of consumption.
Plastic or not plastic? That’s the problem: analysing the Italian students purchasing behavior of mineral water bottles made with eco-friendly packag…
2022
Abstract European Strategy for Plastics in a Circular Economy draws new shapes of economy in order to protect the environment and reduce marine pollution, GHGs and countries’ dependence on imported fossil fuels. The core of EU Strategy is also to try to transform the way plastic products are designed, produced, used and recycled in the EU. Italy is the first country in Europe and the second in the world for consumption of bottled water, with remarkable environmental impacts, from production to distribution. Starting from social science theory, this work aims to investigate consumers' behavior and the related factors that influence their behavior pertaining to the purchase of. mineral water …
Money in an Estimated Business Cycle Model of the Euro Area
2006
We present maximum likelihood estimates of a small scale dynamic general equilibrium model for the Eurozone. We pay special attention to the role of money, both through its direct effect upon private agents’ decisions and as a component of the monetary policy rule. Our results can be summarized as follows. First, we find no direct effect of money upon inflation and output but money growth plays a significant role in the interest rate rule. Second, money demand shocks mainly help to forecast real balances while real shocks explain the bulk of price, output and interest rates fluctuations. Third, the estimated model predicts sensible conditional correlations among those variables both to dema…
Discretionary Government Consumption, Private Domestic Demand, and Crisis Episodes
2012
This paper analyzes the dynamic impact of discretionary government consumption purchases on private demand. Using a panel of 132 countries from 1960 to 2008, we find that while discretionary changes in government consumption lead to crowding-in effects in the short run, crowding-out effects take over in the medium run. In addition, we also find that both short-term crowding-in and mediumterm crowding out effects are amplified once we control for periods of crisis.
Government size, composition, volatility and economic growth
2008
This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government revenue and spending, the results point out that i) indirect taxes (size and volatility); ii) social contributions (size and volatility); iii) government consumption (size and volatility); iv) subsidies (size); and v) government investment (volatility) have a sizeable, negative and statistically significant effect on growth. info:eu-repo/semantics/publishedVersion
Inequality and economic growth across countries of the Eurozone
2018
The EU economic recovery after the financial crisis is being accompanied by sluggish and unsteady growth with high levels of inequality. The relationship between income inequality and the rate of economic growth still remains a controversial issue with discrepancies in the results reported in many empirical and theoretical studies of growth and development. We explore the impact of income inequality, poverty, and wealth on the rate of economic growth in the Eurozone. We find that the effect of income inequality on economic growth is statistically insignificant, whereas poverty and savings have a negative, statistically significant effect on growth, while the effect of financial assets is po…
Progressive consumption tax, minimum consumption, and inequality
2020
Abstract In this note, we study the effects of a progressive consumption tax on wealth and consumption inequality in a model economy featuring minimum consumption. We show that increasing the lower and upper bounds of the progressive tax rate reduces wealth and consumption inequality in the long run but is not sufficient. The lower and upper bounds must not exceed the thresholds, which are decreasing functions of minimum consumption. The result is useful for empirical studies of the redistribution of wealth and consumption.
Drivers of greenhouse gas emissions in the Baltic States: A structural decomposition analysis
2014
Since the mid-1990s three Baltic States have significantly increased their per capita gross domestic product (GDP) and at the same time have managed to keep the CO2 equivalent (CO2e) emissions low. We used structural decomposition analysis to identify the drivers of change for CO2e emissions in these countries between 1995 and 2009, a period that includes the collapse of the Soviet Union, restructuring and economic growth and the great recession. The results show that final demand has been the main driving force for increasing emissions in the Baltic States and would have caused an 80%, 64% and 143% emission increase in Estonia, Latvia and Lithuania, respectively, all other factors kept con…
Monetary policy, asset prices and consumption in China
2012
Abstract This paper studies the wealth channel in China. Although the wealth channel has been found to be functioning in many advanced countries, its existence is yet to be explored in most emerging economies, also in China. In order to illuminate dynamics between monetary policy, asset prices and consumption, we use the structural vector autoregression method. The findings support the view that a loosening of China's monetary policy does indeed lead to higher asset prices. Furthermore, a positive shock to residential prices increases household consumption, while the role of stock prices seems to be small from the households’ point of view. Finally, we test the existence of the wealth chann…
The impact of mimicry on sales – Evidence from field and lab experiments
2011
A buyer's observation that one or more people are consuming a product can lead that buyer to consume the product as well. The evidence supporting unconscious and unintentional (automatic) mimicry of consumption suggests that it is a pervasive and robust phenomenon. However, up until now most findings on the antecedents of mimicry have been obtained from lab studies. Using a field study, the current research shows that passengers in a train mimic the consumption behavior of other passengers. Two subsequent lab studies suggest that mimicry of consumption is all the more powerful the more people there are consuming and the more intense and consistent their consumption behavior is. However, the…