This study measures the impact of economic determinants on the international demand for tourist services in Portugal. A panel data set of 15 European countries over the period 1995-2003 is used. This article used appropriate panel data techniques of real per capita income, the price index of tourism service, geographical distance on demand for Portugal tourism services. In contrast to previous studies, this manuscript used a dynamic panel data to solve the problems of serial correlation and endogeneity. The estimate of the relative price elasticity of demand for Portugal's is 0.35 in the short run and 0.37 in the long run. The corresponding estimates for income elasticity on demand are 0.402 and 0.391 respectively.
This paper examines the incentives of a manufacturer and a retailer to share their demand forecasts. The demand at the retailer is a linearly decreasing function of price. The manufacturer sets the wholesale price first, and the retailer sets the retail price after observing the wholesale price. Both players set their prices based on their forecasts of demand. In the make-to-order scenario, the manufacturer sets the production quantity after observing the actual demand; in the make-to-stock scenario, the manufacturer sets the production quantity before the demand is realized. In the make-to-order scenario, we show that sharing the forecast unconditionally by the retailer with the manufacturer benefits the manufacturer but hurts the retailer. We also demonstrate that a side payment contr...
The authors use structural vector autoregressions to analyze the responses of worker flows, job flows, vacancies, and hours to demand and supply shocks. They identify these shocks by restricting the short-run responses of output and the price level. On the demand side, they disentangle a monetary and nonmonetary shock by restricting the response of the interest rate. The responses of labor market variables are similar across shocks: Expansionary shocks increase job creation, the job-finding rate, vacancies, and hours; and they decrease job destruction and the separation rate. Supply shocks have more persistent effects than demand shocks. Demand and supply shocks are equally important in driving business cycle fluctuations of labor market variables. The authors' findings for demand shock...
We consider two capacity choice scenarios for the optimal location of facilities with fixed servers, stochastic demand, and congestion. Motivating applications include virtual call centers, consisting of geographically dispersed centers, walk-in health clinics, motor vehicle inspection stations, automobile emissions testing stations, and internal service systems. The choice of locations for such facilities influences both the travel cost and waiting times of users. In contrast to most previous research, we explicitly embed both customer travel/ connection and delay costs in the objective function and solve the location-allocation problem and choose facility capacities simultaneously. The choice of capacity for a facility that is viewed as a queueing system with Poisson arrivals and expo...
This paper reviews a bulk of the empirical studies on import demand estimates for Japan which findings are mixed and inconclusive. This review article contributes to the literature in at least two ways: 1. provide a detailed review on the papers which have studied the import demand behavior for Japan, and 2. discuss the issues of import demand framework with reference to Japan, in particular, the determinants of demand for imports. This is a survey paper, which reviews the studies that investigated Japan's import demand behavior in aggregate levels, particularly. This paper concludes that the results of Japan's import demand depend on the model specification and the estimation technique. This paper also reviews the issues, which are related to the candidate determinants of aggregate imp...
This report summarizes a selection of federal and state legislative, regulatory, and judicial developments in renewable energy and demand-side management during 2009. Separate sections in the renewable energy portion of this report describe hydrokinetic and off-shore wind developments, each of which involve significant coordination between federal and state governments.
This article acts as a review and also a guide to policymakers who are interested in understanding the determinants of insurance demand and how it affects general economic development. By providing a synopsis and evaluation of existing empirical research on the development of insurance markets, this article provides a discussion of the factors that promote insurance market development. This article then highlights certain issues that both insurance companies and policymakers can utilize further in their own markets to design future policies that can be geared to promote insurance market development.
This article describes the South African Community Epidemiology Network on Drug Use project, describes selected trends in treatment demand related to alcohol and other drug (AOD) use for a 10 year period, and reflects on the utility and impact of this initiative on policy and practice. Data are collected using a standardized data collection form from over 70 specialist AOD treatment centers in six sentinel sites in South Africa every 6 months. Data are also collected from police forensic records and community surveys. Treatment demand linked to methamphetamine use has increased substantially in recent years in one site (Cape Town), but not in other sites. Treatment demand for heroin-related problems has increased over time in most sites, with changes in the population group profile of p...
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