This paper empirically determines why, during the 1990s, inflation in Canada was consistently more stable than predicted by the fixed-coefficients Phillips curve. A time-varying-coefficient model, where all the parameters adjust simultaneously, shows that the behaviour of expectations was probably a major contributing factor. A decrease in the value of the coefficient on the first difference of...

This article develops a two-factor real options model of the harvesting decision over infinite rotations assuming a known stochastic price process and using a rigorous Hamilton–Jacobi–Bellman methodology. The harvesting problem is formulated as a linear complementarity problem that is solved numerically using a fully implicit finite difference method. This approach is contrasted with the Markov...

The wind power price policy has promoted the rapid development of industry in China. However, China’s is facing high-quality problems such as curtailment and blind investment. Exploring relationship between change great significance for energy system to achieve carbon neutrality. This paper constructs an SBM-GML global covariance model, calculates total factor productivity 30 provinces China fr...

• Incorporation of price risk into decision making process is fundamentally important. Both historical price information and projected future price come into play. Due to the usual lengthy gap between planning and harvest, expected price is the dominant factor. Given that many agricultural commodities are represented in the future and option markets, it is a common practice to infer the collect...

The perishable product’s dynamic pricing with quantity discount strategy is studied. The seller uses two-period dynamic price during the whole sale period and introduces quantity discount in second sale period in order to improve the seller’s profit. The mathematic model expressions are obtained by assuming that consumer’s reservation price draws from a uniform distribution and the price discou...

14.1 This chapter focuses on the value aggregates for goods and services that relate the major price indices, including the consumer price index (CPI), to one another. The chapter provides a deeper context for the domain of the CPI covered in Chapter 3 and the index weights dealt with in Chapter 4. It also deepens the context for defining the sample unit and the set of products, discussed in Ch...

Advertisement of the product is an important factor in inventory analysis. Also, price and stock have an important role to attract more customers in the competitive business situations. Trade credit policy is another important role in inventory analysis. We have combined these three factors together in a two-warehouse inventory model and represented it mathematically. In addition, we have added...

The purpose of the study aims to develop comprehensive modeling alternatives for intraproduct line pricing effect and compare the explanation power among them. The researchers want to include the highest explanation power model for Shipment Timing Support System for stored apple. Five intra-apple pricing models were developed and applied to the wholesale price data with four graded Fuji apple a...

Available online 26 November 2010 This paper estimates the Heckscher–Ohlin model with annual US data from 1949 to 2006 for outputs of manufactures and services with inputs of fixed capital assets and the labor force. Difference equation and error correction regressions provide estimated coefficients for the comparative static system. Tariffs on manufactures primarily raise the capital return in...