Search results for "income"
showing 10 items of 538 documents
Is participation in the tourism market an opportunity for everyone? Some evidence from Italy
2016
This paper investigates whether there are differences in tourism consumption behaviour among families by analysing the main determinants of tourism participation at national and international levels. In particular, it explores whether tourism is becoming part of the lifestyle of Italians or whether it is still a luxury good only for the privileged. A Heckman model was used on micro-data on Italian family expenditure over the period 1997–2007, and an income elasticity analysis for different personal and household characteristics was carried out. The results show that participation in the tourism market is strongly affected by the personal characteristics of individuals and that tourism cons…
Frank H. Knight on social values in economic consumption: an archival note
2020
We reproduce an unpublished address on “Social Values in Economic Consumption” which Knight prepared for a SSRC Conference in June 1931. This material sheds new light on Knight in two respects. First, anticipating what is known as the relative income hypothesis, Knight indicated that a general increase in income, not only leaves the individual’s relative position in society unaltered but makes her/his situation worse off due to the peculiar characteristics of the market for “personal services.” Second, this address provides further evidence of how, in spite of some substantial methodological differences, Knight’s research interests converged with those of the institutionalists.
Frank H. Knight on Social Values in Economic Consumption. An Archival Note
2020
This note reproduces an unpublished paper on "Social Values in Economic Consumption" which Knight prepared for the Social Science Research Council (SSRC) Summer Conference, on Nantucket, Massachusetts in June 1931. This paper sheds new light on Knight in two important respects. First, it presents, in a more systematic fashion, Knight’s criticism of what he perceived to be the then standard theory of consumption. Specifically, Knight argued that an individual's consumption is dictated more by his income in relation to others than by mere utility maximization — a notion now commonly known as relative income hypothesis. In this connection, Knight also pointed out that a general increase in inc…
A Hierarchical Model for Analysing Consumption Patterns in Italy Before and During the Great Recession
2016
The paper aims to explore how the Great Recession of the twenty-first century has impacted on the consumption behaviour of Italian households. Following a hierarchical approach, the study investigates differences in consumption behaviour at both household and regional levels. Using micro data on Italian Household Expenditure for the years 2002, 2006, 2010 and 2012, multilevel and two-step regression models have been estimated. The analysis has been performed for four different consumption categories: food, housing, work-related and leisure. The analysis reveals that the economic crisis led to increasing income elasticity for each category of consumption, especially for food, the most essent…
Segmentación del turista deportivo: el caso del espectador de la Fórmula 1
2021
El trabajo pretende identificar grupos de turistas de un evento deportivo, el GP Europa de Fórmula 1, con relación a su motivación para el consumo deportivo y características básicas que definen dichos grupos para conocer los perfiles de turista de un gran evento deportivo. Para caracterizar a los sujetos se utilizó el análisis clúster con una muestra de 148 asistentes al evento, turistas nacionales e internacionales. Los resultados obtenidos muestran la existencia de cuatro grupos de sujetos bien definidos: los sociales (formado por los que obtienen fuertes connotaciones sociales asistiendo al evento, el 17,6% de la muestra), los ostentosos (son el 17,5% de la muestra, que sin una motivaci…
COVID-19, an opportunity for developing countries?
2020
The COVID-19 outbreak was declared by the World Health Organization (WHO) as global pandemic in March 2020. Considering the necessity to implement rapid response to control the pandemic and the fragility and the state of need of low income countries, it will be mandatory to develop a global approach in order to reduce the spread of infection and the creation of community viral reservoirs. So far, we could hypothesize a worst case scenario in which when the COVID-19 outbreak hits a peak in Africa and in low-income countries, the majority of such countries will be unprepared, with low resources allocated for affording the viral emergency and the consequences will be catastrophic with no lesso…
Interest Rates and Net Interest Margins: The Impact of Monetary Policy
2017
In this chapter, we examine the determinants of bank net interest margin, focusing on the effect of interest rates, and thus monetary policy decisions. The analysis is carried with a panel of banks from 32 OECD countries over the period 2003–2014. The results show a quadratic relationship between net interest margins and interest rates, implying that the variation of the latter has a greater effect when interest rates are low. An important policy implication of the results is that there is a trade-off between economic growth and financial stability associated with the impact of expansionary monetary policy when the level of interest rates is very low. As a result, if the current scenario of…
THE CRISIS OF 1929-1933 AND ITS EFFECTS ON THE INDUSTRIALEVOLUTION OF ROMANIA
2012
The Great Depression of 1929-1933 was a global phenomenon that had experienced various aspects and degrees of intensity, from country to country. Thus, that period exhibited a financial crisis, a crisis of production and trade, and a social crisis; all of which had direct effects on Romania's industrial evolution. After increasing the role of the industry in thenational economy during the 1920s, the economic crisis temporarily interrupted this development and was initially reflectedin the collapse of income, prices, investments, a multiplying number of bankruptcies, and a rapid growth of unemployment. Meanwhile, Romania's industrial output fell continuously until reaching its peak, in 1932,…
Economic development and the creative industries: a tale of causality
2014
Cultural and creative industries are thought to be a driver for economic growth. During the last decade, research has tried to link higher intensity of these industries with the region's welfare. However, this is a controversial relationship that still needs to be proved. In this article, we build a conceptual framework to help us test the possible causality between regional income generation and employment in the cultural and creative sectors. Using regional European data for 1999–2008, our results show that there is a significant feedback (bidirectional causality) between the per capita GDP and employment intensity in the cultural and creative industries, allowing us to conclude that ther…
Parental expectations and prosocial behavior of adolescents from low-income backgrounds. A cross-cultural comparison between three countries: Argenti…
2014
Parental expectations are influenced by cultural models, which in turn are subject to a great influence from historically fluctuating features of the socioeconomic background. Parental expectations seem to be linked to children’s social and emotional development in terms of empathy and prosocial behavior. The current study aims to (a) compare low-income adolescents’ perceptions of parental expectations of prosocial and antisocial behavior across three Latin countries (Argentina, Colombia, and Spain), (b) compare the empathy and prosocial behavior between the three countries, (c) compare the prosocial behavior between the three countries, and (d) study the effect of perceived parental expect…