strengthening agricultural and natural resource policy through intrahousehold analysis an introduction in this paper we argue that understanding both the patterns and processes of intrahousehold resource allocation is important for the success of agricultural and natural resource policy the paper focuses specifically on policies and projects that address income generation of the rural poor the mitigation of seasonal fluctuations in consumption and sustainable natural resource management that is to insure income earned today does not compromise future income streams

economics and the family match or mismatch a review of beckers a treatise on the family the author reviews and evaluates beckers a treatise on the family which concerns a the allocation of roles and resources and distribution of income within families b the formation dissolution growth and structure of families and c the implications of these analyses for inequality and social mobility in the present paper beckers approach and substantive conclusions regarding the role of theory and empirical evidence in the study of economics and the family are critically examined it is suggested that while beckers discussion is a source of many useful insights the theory does not attempt a systematic treatment of the transition from traditional to modern types of family excerpt

macroeconomic impacts of oil price shocks in asian economies abstract this paper analyzes the macroeconomic impact of structural oil shocks in four of the top oil consuming asian economies using a var model we identify three different structural oil shocks via sign restrictions an oil supply shock an oil demand shock driven by global economic activity and an oil specific demand shock the main results suggest that economic activity and prices respond very differently to oil price shocks depending on their types in particular an oil supply shock has a limited impact while a demand shock driven by global economic activity has a significant positive effect in all four asian countries examined our finding also includes that policy tools such as interest rates and exchange rates help mitigating the effects of supply shocks in japan and korea however they can be more actively used in response to demands shocks

international oil shocks and household consumption in china abstract we investigate the impacts that oil price shocks have on residential consumption in china while it is well understood that oil prices affect consumption in a multitude of ways the timing and directness of these effects on specific consumption categories is not clear we demonstrate that the most immediate and direct effect passes through transportation consumption as might be expected but we also show that significant effects pass through consumption in other sectors including food and clothes medical expenditure and other general living expenditure with less immediacy given the results particularly observed asymmetries with respect to rises and falls in international oil prices we discuss some implications for future adjustments to domestic price policies in particular the case for removal of domestic price regulation

assessment of the economic impacts of continuous energy intensity target constraint in china based on an analytical general equilibrium model abstract based on the framework of analytical general equilibrium model this study builds an energy intensity target eit constraint model and simulates the impacts of continuous eit constraint policy on the fossil fuel production ffp sector non fossil fuel production nffp sector household sector and price system in china the main findings of this paper are firstly the eit constraint can change the marginal products and the cross price elasticities of input factors secondly stricter eit constraint can transfer capital and labor inputs from the ffp sector to the nffp sector and lead to a contractionary effect in the ffp sector shown as declining inputs and output the contractionary effect will decline gradually or even fade away if the eit constraint is gradually reduced thirdly if the total capital and labor inputs in the whole economy continue to grow at certain rates along with the weakening of the eit constraint the reduction in energy input and the growth of capital and labor inputs in the nffp sector will slow down however the growth rates of output and intermediate input will increase continuously fourthly the eit constraint has negative impacts on the nffp sector price system and household consumption but these impacts are affordable to the whole economy if the eit constraint is loosened under a certain level it may not curb the growth of fossil fuel consumption anymore therefore other supporting policies for energy conservation must be in place

the effects of tax policy on aggregate agricultural investment the effects of tax policies on aggregate agricultural investment are examined results from this analysis suggest that tax policies are effective in promoting agricultural investment nearly 20 percent of net investment in agricultural equipment during the period 1956 through 1978 is attributed to tax policy from 1956 to 1978 tax policy has stimulated in real dollars over 5 billion in net investment in equipment and in excess of 1 billion in structures

oil price shocks and their short and long term effects on the chinese economy a considerable body of economic literature shows the adverse economic impacts of oil price shocks for the developed economies however there has been a lack of empirical study of this kind on china and other developing countries this paper attempts to fill this gap by answering how and to what extent oil price shocks impact china s economy emphasizing on the price transmission mechanisms to that end we develop a structural vector auto regressive model our results show that an oil price increase negatively affects output and investment but positively affects inflation rate and interest rate however with the differentiated price control policies for materials and intermediates on the one hand and final products on the other hand in china the impact on real economy represented by real output and real investment lasts much longer than that to price monetary variables our decomposition results also show that the short term impact namely output decrease induced by the cut of capacity utilization rate is greater in the first one to two years but the portion of the long term impact defined as the impact realized through an investment change increases steadily and exceeds that of short term impact at the end of the second year afterwards the long term impact dominates and maintains for quite some time

the effects of petroleum product price regulation on macroeconomic stability in china abstract china has undertaken measures to regulate the prices of petroleum products since 1998 in order to deal with the world oil price shocks on its macro economy however the effects of price regulation are yet unknown especially when the world oil price fluctuates in different regimes the study first analyses the mechanisms of petroleum product price ppp regulation in the case of gasoline and the crude oil gasoline price fluctuation transmission followed by the identification of regimes and their time intervals using regime switching vector autoregressive model and then estimates the effects of gasoline price regulation in reducing macroeconomic volatility it is found that the world crude oil fluctuates in different regimes the mild fluctuation regime and the violent fluctuation regime the ppp regulation can reduce oil price volatility and then macroeconomic volatility but it is more effective in the mild fluctuation regime the findings present a deeper understanding of the stabilization effect of ppp regulation on the macroeconomy provide an evidence for sustaining china s ppp regulation for the purpose of macroeconomic stability and offer policymakers new information for petroleum product pricing reforms

the influence of household composition on household expenditure patterns theory and spanish evidence a concept of demographic separability is proposed that formalizes the notion that there are groups of goods adult goods that have little or no relationship to specific classes of household demographics the numbers or ages of children that there exist adult goods demographically separable from children is a necessary but not sufficient condition for the validity of rothbarth s method for measuring child costs we propose two different methods for testing demographic separability and present results from a 1981 survey of spain the econometric evidence is in fair agreement with the theoretical presuppositions

welfare analysis of tax reforms using household data abstract this paper discusses a methodology for calculating the distribution of gains and losses from a policy change using data for a large sample of households estimates are based on the equivalent income function which is money metric utility defined over observable variables this enables calculations to be standardised and a computer program to compute the statistics presented in the paper is available for a general demand system equivalent income is related to measures of deadweight loss and standard errors are computed for each of the welfare measures an application to u k data for 5 895 households is given which simulates a reform that involves eliminating housing subsidies

estimates of energy subsidies in china and impact of energy subsidy reform abstract for a transitional economy such as china some energy subsidies are reasonable and sometimes even necessary for achieving social goals however with rising energy prices and environmental concerns we see conflicts emerging between energy subsidies energy demand supply fundamentals and climate change considerations energy subsidies have important implications for sustainable development through their effects on energy use efficiency and the choice of fuel source this paper applies the price gap approach to estimate china s energy subsidies results indicate that china s energy subsidies amounted to cny 356 73 billion in 2007 equivalent to 1 43 of gdp subsidies for oil products consumption are the largest followed by subsidies for the electricity and coal sectors furthermore a cge model is used to analyze the economic impacts of energy subsidy reforms our findings show that removing energy subsidies will result in a significant fall in energy demand and emissions but will have negative impacts on macroeconomic variables we conclude that offsetting policies could be adopted such that certain shares of these subsidies are reallocated to support other sustainable development measures which could lead to reducing energy intensity and favoring the environment

the impacts of structural oil shocks on macroeconomic uncertainty evidence from a large panel of 45 countries abstract using local projection methods this paper employs monthly panel data from 1989 to 2017 to examine both linear and nonlinear impulse responses of macroeconomic uncertainty to structural shocks to global oil production aggregate demand oil market specific demand and speculative demand in a large group of 45 economies we find that both oil supply and demand shocks are important drivers of uncertainty there is strong evidence that the impacts of oil price shocks on macroeconomic uncertainty are regime dependent and contingent on the states of investor sentiments and perceived volatility in financial markets the responses of economic uncertainty to oil shocks especially demand side shocks appear to experience a dramatic change in the post global financial crisis period

the impacts of tax reform on agricultural households estimates of tax reform s impacts usually concentrate on macroeconomic impacts but attention at the industry or sectoral level is often limited our study uses a computable general equilibrium cge model to estimate the disaggregated impacts of the tax cuts and jobs act tcja of 2018 which lowered personal and corporate tax rates focusing on agriculture we use survey data to calculate how the tcja would change the tax rates faced by farmers at the sector level we use internal revenue service data to calculate tax rates for all other producers we then simulate the economy wide and sectoral effects of tcja we find that the tcja would cause a reduction in agricultural output as resources would be reallocated to other sectors using our survey data we extend the cge results to measure the impacts to farm households from changes in on and off farm income we find that most farm households would have income gains from tax reform our tax reform scenario highlights the fact that investment weighs heavily on model results that is firms that are attractive to domestic and foreign investment have gains in demand for their products while other sectors such as primary agriculture experience decreases in production a sensitivity analysis that reduces the attractiveness of the united states in foreign investment shows smaller impacts of tcja especially for macroeconomic variables

recovering individual preferences for non market goods a collective travel cost model traditional recreation demand models do not make a distinction between a household and an individual as the reference decision making unit thus assuming that a family maximizes a single utility function even if the family consists of different individuals such models ignore the possibility of family members divergent preferences for non market goods this study proposes a novel approach the collective travel cost model ctcm to eliciting individual preferences for a non market good such as a recreation site by using revealed preference data this approach accounts for the intra household resource allocation and the role of each household member s preferences we show that the collective travel cost model can be applied to estimating a recreation demand model that yields individual welfare estimates appropriate for policy analysis of non market goods such as the willingness to pay to access a recreation site we find that how resources are distributed within the household reflects significant differences in welfare measures

oil and the macroeconomy since world war ii all but one of the u s recessions since world war ii have been preceded typically with a lag of around three fourths of a year by a dramatic increase in the price of crude petroleum this does not mean that oil shocks caused these recessions evidence is presented however that even over the period 1948 72 this correlation is statistically significant and nonspurious supporting the proposition that oil shocks were a contributing factor in at least some of the u s recessions prior to 1972 by extension energy price increases may account for much of post opec macroeconomic performance

estimating utility consistent labour supply functions some results on pooled budget data abstract demand systems aids les are augmented to include labour supply and then estimated on pooled u k budget data allowing for time series and cross section variation in wages the results point to the danger of constraining the labour supply curve a priori by use of restrictive utility systems in addition hypothesis relating to effects of price wage movements on composition of full income are tested

a life cycle consistent empirical model of family labour supply using cross section data this paper estimates a utility maximising model of the joint determination of male and female labour supplies using a sample of married couples from the u k family expenditure survey the emphasis is on the estimation of within period preferences that are consistent with intertemporal two stage budgeting under uncertainty however the approach we adopt provides an alternative method of estimating certain aspects of life cycle behaviour to the fixed effects constant approach of heckman and macurdy 1980 macurdy 1981 and browning deaton and irish 1985 moreover it relaxes some of the underlying restrictions that are implicit in these constant models under uncertainty

a comparison of the effects of exogenous oil supply shocks on output and inflation in the g7 countries a comparison of the effects of exogenous shocks to global crude oil production on seven major industrialized economies suggests a fair degree of similarity in the real growth responses an exogenous oil supply disruption typically causes a temporary reduction in real gdp growth that is concentrated in the second year after the shock inflation responses are more varied the median cpi inflation response peaks after three to four quarters exogenous oil supply disruptions need not generate sustained inflation or stagflation typical responses include a fall in the real wage higher short term interest rates and a depreciating currency with respect to the dollar despite many qualitative similarities there is strong statistical evidence that the responses to exogenous oil supply disruptions differ across g7 countries for suitable subsets of countries homogeneity cannot be ruled out a counterfactual historical exercise suggests that the evolution of cpi inflation in the g7 countries would have been similar overall to the actual path even in the absence of exogenous shocks to oil production consistent with a monetary explanation of the inflation of the 1970s there is no evidence that the 1973 1974 and 2002 2003 oil supply shocks had a substantial impact on real growth in any g7 country whereas the 1978 1979 1980 and 1990 1991 shocks contributed to lower growth in at least some g7 countries jel e31 e32 q43

the relationship between oil price shocks and china s macro economy an empirical analysis china postdoctoral science foundation 20090460751 ministry of education of the people s republic of china 09yjc790167 09yja820074 national social science funds 09zd050 08ajy031

oil shock and economic growth in japan a nonlinear approach abstract this paper investigates the relationship between oil price shock and economic growth on the basis of the nonlinear approach developed by hamilton hamilton j 2001 a parametric approach to flexible nonlinear inference econometrica 537 573 we use the approach also in hamilton hamilton j 2003 what is an oil shock journal of econometrics 363 398 of capturing this relationship in japan in a nonlinear model the idea is that negative oil price shocks price increase tend to have larger impact on growth than positive shocks do our empirical evidence confirmed the existence of nonlinearity between these two variables and a flexible nonlinear model is estimated additionally several other form of nonlinearity are estimated and tested

analysis of the changes in the scale of natural gas subsidy in china and its decomposition factors abstract this paper applied the price gap approach to estimate natural gas subsidy in china during 2007 2015 and employed the lmdi method to analyze the influencing factors of the changes in the subsidy scale the results showed that the chinese government raised the domestic gas price in contrast to the slump in global gas price in 2009 which accelerated the huge decrease in the natural gas subsidy scale but the stagnation in price adjustment immediately led to a rebound in natural gas subsidy during 2010 2012 however the level of natural gas subsidy has declined substantially in the industrial and commercial sectors since the natural gas pricing mechanism reform began in 2013 but the level of residential natural gas subsidy still remained high because the city gate pricing mechanism was not extended to this sector the pricing mechanism was the most important decomposition factor of changes in the level of natural gas subsidy the contribution rates of competitive gas price pricing mechanism consumption structure and natural gas consumption on decrease in natural gas subsidy scale were 11 08 101 21 3 15 and 9 14 respectively during 2013 2015 a reasonable and well implemented pricing mechanism can prevent a rebound in natural gas subsidy therefore the government should seize the current opportunity of sufficient natural gas supply and relatively low gas price to deepen and advance the natural gas pricing mechanism reform

tax reform and land using sectors in the u s economy a general equilibrium analysis a computable general equilibrium model of the u s economy is used to assess the effects of the tax reform act of 1986 on land using sectors forestry and three classes of agriculture the model s components include twelve production sectors six consumer groups a balanced budget government sector and a zero surplus foreign sector in relative terms tax reform reduces total value added output in land using sectors to a greater extent than other sectors in the economy experiments are also performed comparing partial and general equilibrium specifications of the economy and the impact of choice of input substitution elasticities

are the macroeconomic effects of oil price shock symmetric a factor augmented vector autoregressive approach abstract this paper aims to examine the asymmetric effect of oil price shocks on real economic activity in the u s within the context of a nonlinear factor augmented vector autoregressive favar model by employing simulation methods we trace the effects of positive and negative oil price shocks on the macroeconomic variables through the impulse response function irf it is found that the negative impacts of higher oil prices are larger than the positive effects of lower oil prices and the asymmetric effects are more evident when the oil price shocks are larger the results are robust to different lag specification and choice of factors

the effects of uncertainty and adjustment costs on investment in the almond industry a neoclassical model of investment behavior is developed wherein firms are assumed to maximize the expected present value of net revenue under leontief technology prices and yields are assumed to be stochastic this framework yields investment as a function of the expected present value of the output from one unit of capital and the variance of the expected value this theory is applied to investment in the almond industry the model outperforms both a model without uncertainty and one with neither uncertainty nor adjustment costs using in sample and out of sample tests copyright 1989 by mit press

comparative analysis of investment models for new york dairy farms traditional and dynamic investment models were estimated using farm level dairy data the traditional model predicted more variability in desired capital and less variability in the adjustment rate than did the dynamic model overall the traditional model performed better both models suggest a significant delay between changes in the determinants of desired capital stock and the actual investment expenditure new york dairy farmers may be making more extensive use of existing capital before making additional expenditures another explanation may be our use of farm level data where investment is periodic and discrete most other studies have used aggregate data

inefficiency of male and female labor supply in agricultural households evidence from uganda this article analyzes the efficiency of the intra household allocation of female and male labor inputs in agricultural production in a collective household model spouses optimal on farm labor supply is such that the marginal rate of technical substitution between male and female labor is equated over different crops using the uganda national household survey 2005 06 we test whether this condition holds by estimating production functions and controlling for endogeneity using a method proposed by gandhi navarro and rivers 2009 we find that women are less productive than men that there is more female labor input on low productivity parcels and that men are relatively more productive on female controlled plots compared with male controlled plots total farm output could be higher and pareto improvements could be possible if male labor was reallocated to female controlled plots and or female labor was reallocated to male controlled plots

demographic variables in demand analysis in this paper the authors discuss five procedures for incorporating demographic variables into theoretically plausible demand systems translating scaling and the gorman reverse gorman and implicit prais houthakker procedures these five procedures are used to incorporate a single demographic variable the number of children in a household into the generalized ces demand system using household budget data for the united kingdom for the period 1966 1972 excerpt

how serious is the neglect of intrahousehold inequality in this report the authors develop a framework for assessing the consequences of ignoring intrahousehold inequality in the measurement and analysis of poverty and inequality they apply this framework to data for the philippines and conclude that 1 the result of neglecting intrahousehold inequality will probably be considerable understatement of the levels of poverty and inequality with the philippine data measured levels of inequality and poverty were off 30 percent as a result of ignoring intrahousehold variation and 2 patterns of inequality revealed by household level data are somewhat different from patterns revealed by individual level data but the differences seem not to be dramatic to confirm these results the exercise should be repeated with data from other countries

price of oil and world inflation and recession new evidence shows that the commonly held assumption that the 1973 74 oil price increase directly affected us and world inflation and subsequent recession is consistent with the empirical data an extended lucas varro real income equation applied to the us united kingdom canada france germany italy japan and the netherlands gives mixed results partly because of price control and decontrol programs simulation experiments on the price control variable using us data finds strong effects further studies can be made when consistent international data is available for the 1979 80 period 18 references 4 figures 3 tables dck

energy savings potential in china s industrial sector from the perspectives of factor price distortion and allocative inefficiency abstract china s industrial energy consumption accounted for 70 82 of national and 14 12 of world energy usage in 2011 in the context of energy scarcity and environmental pollution the industrial sector in china faces unsustainable growth problems by adopting the stochastic frontier analysis sfa framework this paper analyzes the factor allocative efficiency of china s industrial sector and estimates the energy savings potential from the perspective of allocative inefficiency this paper focuses on three issues the first is examining the factor allocative inefficiency of china s industrial sector the second is measuring factor price distortion by the shadow price model the third is estimating the energy savings potential in china s industrial sector during 2001 2009 major conclusions are thus drawn first factor prices of capital labor and energy are distorted in china due to government regulations moreover energy price is relatively low compared to capital price while is relatively high compared to labor price second the industry wide energy savings potential resulted from energy allocative inefficiency was about 9 71 during 2001 2009 the downward trend of energy savings potential implies the increasing energy allocative efficiency in china s industrial sector third a transparent and reasonable pricing mechanism is conducive to improving energy allocative efficiency

spending time and money within the household we consider both theoretically and empirically the allocation of time and money within the household the research question is whether a married person who enjoys more leisure than their partner also receives more consumption which seems to indicate the outcome of power within the household or receives less consumption which seems to indicate differing intrahousehold preferences we develop a simple parametric structural model with household production that is tested on survey data we find that relative wages have an impact on power for leisure this effect is dominated by a conventional wage effect in which the partner who has the higher wage takes less leisure

children s resources in collective households identification estimation and an application to child poverty in malawi children s resources matter but they are hard to identify because consumption is typically mea sured at the household level modern collective household models permit some identication of indi vidual household member resources but these models typically either ignore children or treat them as attributes of adults we propose a collective household model in which children are people with their own utility functions possibly assigned to them by parents extending the frameworks of browning chiappori and lewbel 2007 and lewbel and pendakur 2008 we show identication of children s resource shares within households we invoke semiparametric restrictions on individual preferences and use data on the household level consumption of assignable private goods to achieve identication of each individual s resource share within the household we show this without being able to observe consumption by individual household members of goods that are partly or wholly shared goods within the household further we obtain identication using only engel curves and so do not require ob served price variation in the data we estimate our model using data from malawi andnd that as the number of children in a household grows women s resource shares fall and children s resource shares rise and men s resource shares are basically unchanged we alsond evidence of gender bias against girls and observe that the resource shares of mothers and children are increasing in the education level of the mother finally we use our estimates to construct poverty indices at the person level andnd that per capita poverty indices understate the incidence of child poverty in malawi

socio economic development and electricity access in developing economies a long run model averaging approach abstract access to electricity continues to be a popular subject in empirical studies however the choice of key factors related to electricity access in the literature to date has been ad hoc due to the lack of a theoretical framework this paper adopts a bayesian model averaging bma approach to selects important factors related to electricity access from 26 socioeconomic indicators using a sample of 48 developing countries and reveal their long term relationship with electricity access the bma approach allows us to identify the optimal empirical model when a theoretical foundation is not available moreover it allows us to address the relative importance of variables using posterior inclusion probabilities and thus has clear policy relevance our results show that access to finance education economic development infrastructure and industrialisation are positively related to electricity access in the long run although the long run relationship does not indicate causality it shows that to maintain this relationship policy adjustments against any deviations from the relationship are needed our study suggests that electrification needs not only economic educational and infrastructural development but also private sector participation governments commitment and political will and integration with poverty reduction and other development schemes

collective labor supply and welfare the paper develops a general collective model of household labor supply in which agents are characterized by their own possibly altruistic preferences and household decisions are only assumed to be pareto efficient an alternative interpretation is that there are two stages in the internal decision process agents first share nonlabor income according to some given sharing rule then each one optimally chooses his or her own labor supply and consumption this setting is shown to generate testable restrictions on labor supplies moreover the observation of labor supply behavior is sufficient for recovering individual preferences and the sharing rule up to a constant finally the traditional tools of welfare analysis can be adapted to the new setting

valuing investment decisions of renewable energy projects considering changing volatility abstract volatility is an important parameter when evaluating investments using the real options method for renewable energy investments the volatility of cash flow continuously changes because as new information and knowledge are gathered there is less foreseen variation this paper proposes an extended recombining trinomial tree model where the changing volatility is used to generate transition probabilities the changing volatility is generated using a consolidation process where multiple random variables including the market price of electricity carbon price and lending rate are integrated into a low dimension stochastic process a two factor learning curve is used to model the changes of investment cost we apply the proposed model to analyze solar photovoltaic pv power generation investment in china the results show volatility with changing feature compared with constant volatility changing volatility may advance investment decisions and change the project value complete grid parity policy in the solar pv industry is infeasible because the opportunity cost brought by the option of delaying cannot be offset the changing volatility may produce a lower and equally effective subsidy level compared with constant volatility a carbon emission trading scheme is helpful in advancing investments in renewable energy which is reflected in improvements in project value advancements in investment decisions and reductions in the required subsidy level

investigating co2 mitigation potentials and the impact of oil price distortion in china s transport sector abstract the transport sector is a major source of oil consumption and co2 emissions in china however due to the regulated pricing mechanism in china the end user oil price cannot reflect real market price and thus oil price distortion exists therefore the main aim of this paper is to study the affecting mechanism of oil price distortion on co2 emission mitigation firstly the level of oil price distortion is evaluated and a dynamic trans log cost function model is built to analyze the substitution relationship among energy products secondly the own price elasticity and cross price elasticity for fuel demand are calculated based on provincial panel data of china s transport sector over 2004 2016 finally co2 mitigation potentials are estimated by removing the impact of oil price distortion results show that 1 there is positive oil price distortion over 2004 2016 2 substitute relationship is observed between oil and coal oil and electricity and the substitution relationship is affected by factor substitution 3 removing oil price distortion will reduce co2 emissions of china s transport sector by 599 million tons in the studying period policies should focus removing the impact of oil price distortion promoting electricity oil substitution and promoting capital energy substitution to mitigate co2 emissions

the empirical content of nash bargained household behavior in households whose allocation decisions can be represented as nash bargained household decisions extrahousehold environmental parameters eeps serve as pure shifters of the threat points the comparative statics of changes in demands due to changes in these eeps are given these are incorporated into a comprehensive statement of the empirical content of nash bargained household behavior including a nash generalization of barten s 1966 fundamental matrix equation of the theory of consumer demand estimation and data requirements are discussed along with nested testing of the following structure the neoclassical model is nested in the nash bargained model which in turn is nested in an unrestricted model of household demands emphasized throughout is the enriched menu of explanatory variables for demand analysis provided by the nash model as well as the model s ability to jointly analyze i household formation and ii intrahousehold allocation decisions

household labour supply in britain and denmark some interpretations using a model of pareto optimal behaviour this paper analyses the labour supply behaviour of households in denmark and britain it employs models in which the preferences of individuals within the household are explicitly represented the households are then assumed to decide on their labour supply in a pareto optimal fashion describing the structure of the household decision in this way allows preliminary results to be obtained on the internal weighting of utilities within the household

can energy price regulations smooth price fluctuations evidence from china s coal sector abstract due to the dominance of coal in china s energy mix coal prices have always been a challenging part of pricing reform the recent frequent government interventions raise the key research questions what is the actual impact of price policies on coal price fluctuations and how can forward looking pricing policies be made by proposing a novel classification of coal pricing policies and introducing an expectation and forward looking coefficient the paper examines the relationship between coal price fluctuations and pricing policies using the generalized method of moments gmm method it shows that the lagging coal price and coal demand play a positive role in regulating coal prices while coal supply and marketization have significantly negative effects on coal price fluctuations the heterogeneous impacts of price policies are due to differences in market players expectations policy instruments and the methods of policy release in addition china s coal pricing policy portfolio from 2013 to 2016 exerted synergy effects on the restraint of coal price fluctuations as the forward looking coefficient was considerably low the government s intervention behaviors were obviously biased towards ex post facto responses the paper suggests short run and long run policies to advance marketization of coal prices amid the energy transition

the effects of tax policy on investment in agriculture the effects of tax policy on agricultural investment are investigated by estimating a dynamic interrelated input demand system net investment is specified to give rise to increasing internal costs of adjustment resulting in capital inputs being quasi fixed the system of demand equations is derived by incorporating a quadratic normalized restricted cost function into a long run dynamic optimization framework copyright 1991 by mit press

energy price regulatory price distortion and economic growth a case study of china energy prices are often distorted by government control which is justified on the grounds that such control will help mitigate the negative impact of price volatility from oil imports and thus positively affect the domestic economy in this paper we show in a two sector growth model that regulatory price distortion can negatively affect the economy and then based on the model we empirically estimate the impact of the price distortion on output growth in china using monthly time series data from 2005m1 to 2012m12 in contrast to the usual argument for regulatory control to mitigate price volatility we find that regulatory price distortion negatively affects output growth in china during both the short and long term because it is robust to different measures of output and price distortion hence the argument that using price regulation to protect economic growth is undermined and subsequently this study lends its support to energy price deregulation a market oriented energy price regime may improve the resilience of the domestic economy to global oil price shocks

work intensity gender and sustainable development abstract is labour intensive employment compatible with social justice and environmental sustainability this paper examines the question of how far small scale intermediate technology based on energy intensive human work which is central to prescriptions for poverty alleviation and sustainable development is compatible with development objectives emphasizing gender equity work intensity is a neglected characteristic of labour but significant in the determination of human well being and in the intra household distribution of welfare the intensification of energy expenditure does not affect men and women in a uniform way and needs to be gender disaggregated in order to reveal potential trade offs between development strategies based on labour intensive growth and the well being of men and women the paper draws upon the experience with treadle pumps for irrigation in bangladesh as an illustration of such potential trade offs and argues for more rigorous analyses of gender divisions of labour which include work intensity in combination with time allocation

supply response and investment in the canadian food processing industry this paper reports on the estimation of a dynamic model of the food manufacturing industry in canada its major objectives are to analyze the determinants of investments and the production structure of the industry an important finding of the study is that the hypothesis of instantaneous capital adjustment to changing market conditions is statistically rejected capital stock adjustment to optimal levels takes approximately two and one third years another result is that although the industry is responsive to price changes a general pattern of inelastic factor demand and output supply prevails in the short run intermediate run and even in the long run