Price dynamics, foreign exchange and anticipated shocks in a tourism economy

Using a dynamic model of an open monetary economy, this paper examines the effects of tourism-related anticipated shocks on goods prices and foreign exchange reserves. Foreign tourists consume mainly non-traded goods in holiday destinations, converting them into exportable goods. This gives rise to a tourism terms-of-trade effect that affects the accumulation of foreign exchange. Announcements of anticipated events bring tourist visits forward, resulting in an initial underadjustment or an over-adjustment in the prices of the non-traded goods when the tourism termsof-trade effect is positive or negative. This leads to an increase or a decrease in foreign reserves in the long run.

Quotas, spillovers, and the transfer paradox in an economy with tourism

This paper examines the welfare implications of quotas for an economy that is small in terms of traditionally traded goods and has monopoly power over the trade of goods consumed by tourists. Inbound tourism converts local nontraded goods into tradable goods, creating a tourism terms-of-trade effect for the touristreceiving economy. Through this effect, quotas result in a spillover to the nontraded sector. Hence, in the presence of tourism, the traditional free-trade prescription for the small open economy is no longer valid. This lends support to the setting of import quotas. Using the optimal quota as a benchmark, we further examine the welfare effect of tied aid. If tied aid brings about an excessive supply of importable goods, then the transfer paradox of the immiserization of the tourist- receiving economy may occur.

Modern kitchens : and what their owners say of the speed, comfort, economy and convenience of electric cooking

"In the pages of this booklet we have given you actual quotations from a few of the many letters which we have recived from delighted users of Electric Ranges." -- blurb.

Tariff and consumption tax reforms in a developing tourism economy

This paper examines the effects of a coordinated tax reform by replacing import tariffs with point-by-point increases in consumption taxes for a small-open developing tourism economy. Foreign tourists demand for the non-traded goods provided in the informal sector of the host economy, resulting in a tourism-induced terms-of-trade effect. The presence of inbound tourism lends a support to positive tariffs even for a small open economy. The indirect tax reform of this kind can increase residents’ welfare and government revenue when the initial tariffs are relatively larger to the consumption taxes.

The collaborative economy: a disruptive innovation or much ado about nothing?

An economy based on the exchange of capital, assets and services between individuals has grown significantly, spurred by proliferation of internet-based platforms that allow people to share underutilized resources and trade with reasonably low transaction costs. The movement toward this economy of “sharing” translates into market efficiencies that bear new products, reframe established services, have positive environmental effects, and may generate overall economic growth. This emerging paradigm, entitled the collaborative economy, is disruptive to the conventional company-driven economic paradigm as evidenced by the large number of peer-to-peer based services that have captured impressive market shares sectors ranging from transportation and hospitality to banking and risk capital. The panel explores economic, social, and technological implications of the collaborative economy, how digital technologies enable it, and how the massive sociotechnical systems embodied in these new peer platforms may evolve in response to the market and social forces that drive this emerging ecosystem.

'Wide-awake drunkenness'? Investigating the association between alcohol intoxication and stimulant use in the night-time economy

Aims: We tested whether patrons of the night-time economy who had co-consumed energy drinks or illicit stimulants with alcohol had higher blood alcohol concentration (BAC) levels than patrons who had consumed only alcohol. Design: Street intercept surveys (n=4227) were undertaken between 9 p.m. and 5 a.m. over a period of 7 months. Setting: Interviews were undertaken with patrons walking through entertainment precincts, queuing to enter venues or exiting venues in five Australian cities. Participants: The response rate was 92.1%; more than half the study sample was male (60.2%) and the median age was 23 years (range 18-72). Measurements: Data were collected on demographics, length of drinking session, venue types visited, types and quantity of alcohol consumed and other substance use. A BAC reading was recorded and a subsample of participants was tested for other drug use. Findings: Compared with the total sample (0.068%), illicit stimulant consumers (0.080%; P=0.004) and energy drink consumers (0.074%; P<0.001) had a significantly higher median BAC reading, and were more likely to engage in pre-drinking (65.6, 82.1 and 77.6%, respectively, P<0.001) and longer drinking sessions (4, 5 and 4.5 hours, respectively, P<0.001). However, stimulant use was not associated independently with higher BAC in the final multivariable model (illicit stimulants P=0.198; energy drinks P=0.112). Interaction analyses showed that stimulant users had a higher BAC in the initial stages of the drinking session, but not after 4-6 hours. Conclusions: While stimulant use does not predict BAC in and of itself, stimulants users are more likely to engage in prolonged sessions of heavy alcohol consumption and a range of risk-taking behaviours on a night out, which may explain higher levels of BAC among stimulants users, at least in the initial stages of the drinking session.

Dealing with alcohol-related problems in the night-time economy: a study protocol for mapping trends in harm and stakeholder views surrounding local community level interventions

This project will provide a comprehensive investigation into the prevalence of alcohol-related harms and community attitudes in the context of community-based interventions being implemented to reduce harm in two regional centres of Australia. While considerable experimentation and innovation to address these harms has occurred in both Geelong and Newcastle, only limited ad-hoc documentation and analysis has been conducted on changes in the prevalence of harm as a consequence, leaving a considerable gap in terms of a systematic, evidence-based analysis of changes in harm over time and the need for further intervention. Similarly, little evidence has been reported regarding the views of key stakeholder groups, industry, government agencies, patrons or community regarding the need for, and the acceptability of, interventions to reduce harms. This project will aim to provide evidence regarding the impact and acceptability of local initiatives aimed at reducing alcohol-related harms.

After Charlie: free speech and the political economy of communication

Three significant events at the start of 2015 have put freedom of speech firmly on the global agenda. The first was the carry-over from the December 2014 illegal entry to the Sony Corporation’s file servers by anonymous hackers, believed to be linked to the North Korean regime. The second was the horrible attack on journalists, editors, and cartoonists at the French satirical magazine, Charlie Hebdo on 7 January. The third was the election of leftwing anti-austerity party Syrzia in Greece on 25 January.While each event is different in scope and size, they are important to scholars of the political economy of communication because they all speak to ongoing debates about freedom of expression, freedom of speech and freedom of the press. I name each of these concepts separately because, despite popular confusion, they are not the same thing (Patching and Hirst, 2014) . Freedom of expression is the right to individual self-expression through any means; it is an inalienable human right. Freedom of speech refers to the right (and the physical ability) to utter political speech, to say what others wish to repress and to demand a voice with which to express a range of social and political thoughts. Freedom of the press is a very particular version of freedom of expression that is intimately bound with the political economy of speech and of the printing press. Freedom of the press is impossible without the press and, despite its theoretical availability to all of us, this principle is impossible to articulate without the material means (usually money) to actually deploy a printing press (or the electronic means of broadcasting and publishing).Freedom of expression is immutable; freedom of speech subject to legal, ethical and ideological restriction (for better, or worse) and freedom of the press is peculiar to bourgeois society in that it entails the freedom to own and operate a press, not the right to say or publish on a level playing field. Access to freedom of the press is determined in the marketplace and is subject to the unequal power relationships that such determination implies.It is fitting to start with the Charlie Hebdo massacre because the loss of 17 lives makes this the most chilling of the three events and demands that it be given prominence in any analysis. No lives have been lost yet because Sony’s computers were hacked and the election of Syriza has not (yet) led to mass deaths in Greece.