{"title":"Uniform Technical Progress: Can it Be Harmful?","authors":"H. Beladi, S. Marjit, R. Oladi","doi":"10.1111/j.1468-0106.2006.00297.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2006.00297.x","url":null,"abstract":"In a model incorporating trade in final goods, intermediate goods and capital, we show how 'uniform' technical progress across sectors can lead to immiserization. The condition for immiserizing technical progress crucially depends on the pattern of specialization. Our results tend to hold in a more general specification of the basic structure.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123432328","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Pricing Superior Goods: Utility Generated by Scarcity","authors":"Shuntian Yao, Ke Li","doi":"10.1111/j.1468-0106.2005.00290.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2005.00290.x","url":null,"abstract":"We discuss the pricing of a superior good based on its 'signalling value'. Our model and analysis offer a different explanation of why in China and some other Asian countries the prices of luxury goods are extremely expensive when they are first marketed, then fall dramatically and discontinuously afterwards, when marginal costs decline to below the critical point and the goods become more popular. Copyright 2005 Blackwell Publishing Ltd","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129770051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Structural Breaks and Unit Roots in Australian Macroeconomic Time Series","authors":"R. Smyth, P. Narayan","doi":"10.1111/j.1468-0106.2005.00283.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2005.00283.x","url":null,"abstract":"We examine the unit root properties of 16 Australian macroeconomic time series using monthly data spanning the period 1960-2004. In addition to the standard Augmented Dickey Fuller (ADF) test, we implement one- and two-break endogenous structural break ADF-type unit root tests as well as one- and two-break Lagrange multiplier (LM) unit root tests. While the ADF test provides relatively little evidence against the unit root null hypothesis, once we allow for structural breaks we are able to reject the unit root null for just under half of the variables at the 10% level or better.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123864351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Growth Model for China's Special Economic Zone","authors":"Ke Li, J. Whitwell, Shuntian Yao","doi":"10.1111/j.1468-0106.2005.00284.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2005.00284.x","url":null,"abstract":"Abstract. We employ a general macroeconomic analysis to describe the economic growth and performance of the Special Economic Zone (SEZ). It is shown that not only does foreign investment make a significant contribution to the economic growth of the Zone, but also, the rapid response of foreign investment to the output level is important for maintaining steady‐state growth. The open door policy and the policy of encouraging foreign investment have thereby played an important role in the recent development of the Chinese economy.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"108 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115637318","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Development of the Service Sector in Japan and its Implications for the Economy","authors":"M. Mizuno","doi":"10.1111/j.1468-0106.2005.00287.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2005.00287.x","url":null,"abstract":"The rise of the service economy in industrialized countries is having considerable effects on employment and economic activities in Japan. This paper empirically examines the evolution of the service sector in Japan and assesses its impact on employment generation and economic growth. Owing to the heterogeneous nature of the service sector, it is important to further develop the more productive service industries, while making every effort to increase the productivity of the less productive service industries. Policy-makers must take appropriate measures to enhance the productivity of the service sector in order to strengthen overall economic growth. Copyright 2005 Blackwell Publishing Ltd","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"93 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128924863","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Ownership and Sector Performance in Present-Day China: A Regional Study","authors":"C. Ai, M. Wen","doi":"10.1111/j.1468-0106.2005.00286.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2005.00286.x","url":null,"abstract":"Using the latest provincial data to investigate the different performance of different ownership sectors, we found that there are significant differences in both production technology and the determinants of performance at provincial level between state controlling sectors, collectives, domestic private enterprises, Hong Kong, Macau and Taiwan funded firms and foreign invested firms. Cobb-Douglas functions fit the production technologies of the state-controlled, collective and overseas Chinese funded sector very well. However, the production technologies of the domestic private and foreign funded sector are better represented by translog function. In addition, the determinants of economic performance change substantially from one ownership sector to another.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127145420","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Spatial Perfect Competition: A Uniform Delivered Pricing Model","authors":"Masa K. Naito, H. Ohta, Yan-Shu Lin","doi":"10.1111/j.1468-0106.2005.00282.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2005.00282.x","url":null,"abstract":"Spatial competition is often probed in terms of spatial oligopoly and/or monopolistic competition in the literature. This paper considers spatial competition as a form of perfect competition, in the sense that the firms are assumed to be price-takers located at the centre of a market area and practising uniform pricing. It shows that under scale economy competitive equilibria can occur, and may actually be observed in the form of international price differentials. Both a very high price and a very low price can yield conditions of competitive equilibrium in spatially or otherwise separate markets. Copyright 2005 Blackwell Publishing Ltd","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129481030","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Institutionalized Corruption and Privilege in China's Socialist Market Economy: A General Equilibrium Analysis","authors":"Ke Li, R. Smyth, Shuntian Yao","doi":"10.1111/J.1468-0106.2005.00277.X","DOIUrl":"https://doi.org/10.1111/J.1468-0106.2005.00277.X","url":null,"abstract":"Abstract. This paper develops a general equilibrium model to consider the effects of corruption caused by institutionalized privilege on economic welfare, the network size of division of labour and productivity. First a Walrasian equilibrium in a market economy is computed; then we consider the effects on welfare when a privileged group is chosen to work as high‐level administrators. Finally, we allow for explicit collusion between administrators by introducing an administrator's agent who acts in the interests of all the administrators. The model shows that in equilibrium (fixed point) the degree of corruption, the degree of division of labour and productivity are interdependent.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"264 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131502146","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Changes in Demand Function in Cournot Oligopoly","authors":"K. Okuguchi, F. Szidarovszky","doi":"10.1111/J.1468-0106.2005.00279.X","DOIUrl":"https://doi.org/10.1111/J.1468-0106.2005.00279.X","url":null,"abstract":"The effects of change in the market (inverse) demand function are systematically analysed for Cournot oligopoly without product differentiation. The general comparative-static results are stated using the original data on firms' cost functions and inverse demand function. Three special models are examined in light of our results. The stability condition is shown to be insufficient for determinate comparative statics.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122434257","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Shadow Economies of the Asia-Pacific","authors":"Christopher Bajada, F. Schneider","doi":"10.1111/J.1468-0106.2005.00280.X","DOIUrl":"https://doi.org/10.1111/J.1468-0106.2005.00280.X","url":null,"abstract":"Abstract. Despite continuous government attempts to increase taxpayer compliance, the shadow economy continues to offer a way for taxpayers to evade their taxpaying obligations. The consequences are clear: policy‐makers have increasingly imperfect knowledge about the state of economic affairs as shadow economy activity expands. We provide the first known estimates of the shadow economy for 17 Asia‐Pacific countries. We show that, not only have these activities grown over the last ten years, but countries with relatively thin taxpayer compliance initiatives experience the greatest shadow economy activity.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129249460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}