Transport Sector and Regional Price Differentials: A SCGE Model for Chinese Provinces

With regression formulas replaced by equilibrium conditions, a spatial CGE model can substantially reduce data requirements. Detailed regional analyses are thus possible in countries where only limited regional statistics are available. While regional price differentials play important roles in multi-regional settings, transport does not receive much attention in existing models. This paper formulates a spatial CGE model that explicitly considers the transport sector and FOB/CIF prices. After describing the model, performance of our model is evaluated by comparing the benchmark equilibrium for China with survey-based regional I-O and interregional I-O tables for 1987. The structure of Chinese economies is summarized using information obtained from the benchmark equilibrium computation. This includes regional and sectoral production distributions and price differentials. The equilibrium for 1997 facilitates discussion of changes in regional economic structures that China has experienced in the decade.

Cost Reduction Effects of "pseudo FTAs" in Asia -Application of a price model based on a multilateral I/O table-

This paper examines the repercussion effects on the production cost of industries in Asian countries when some countries eliminate tariffs and import commodity taxes on all imports. This kind of analysis is related in some sense to that measuring the effects of FTAs on economies, and thus may be considered as an analysis of “pseudo FTAs.” Examining a number of combinations of “pseudo FTAs” between China, Japan, and ASEAN, it is found that the case of China plus Japan plus ASEAN is the most effective “pseudo FTA” of the combinations in terms of production cost reduction. The method is a form of price model based on the Asian International Input-Output Table. Almost no studies on price models related to multilateral I/O tables have been implemented thus far.

Strategic trade policy and non-linear subsidy : in the case of price competition

In a strategic trade policy, it is assumed, in this paper, that a government changes disbursement or levy method so that the reaction function of home firm approaches infinitely close to that of foreign firm. In the framework of Bertrand-Nash equilibrium, Eaton and Grossman[1986] showed that export tax is preferable to export subsidy. In this paper, it is shown that export subsidy is preferable to export tax in some cases in the framework of Bertrand-Nash equilibrium, considering the uncertainty in demand. Historically, many economists mentioned non-linear subsidy or tax. However, optimum solution of it has not yet been shown. The optimum solution is shown in this paper.

The rise and fall in the price of food, fuel and manufactured goods : interdependency between prices and technology determining comparative advantages and development paths

Green innovation, which enables us to extract energy from food crops, caused a food shortage in 2008. Countries suffering severe damage started to reconsider their agricultural policy with the aim of becoming more autonomous. The food price hike of the time looks like a reversal of the celebrated Singer-Prebisch thesis proposed in the 1950s. This paper examines the consequences of this trend on the comparative advantages and development strategies of developing countries. For that purpose, first, trends and short-run fluctuations in the prices of fuel and bio-energy crops are investigated. It is shown that the price series of fuels and the crops are synchronized only after the fuel extracting technology came into effect. Second, the reversal of the Singer-Prebisch thesis is underpinned by the generic form of an endogenous growth model developed by Rebelo (1991). It is shown that as an economy grows, appreciation of the non-reproducible, such as mineral resources and raw labor, over the reproducible, such as capital goods, is the norm rather than an anomaly. Third, the consequences of the food price hike and underlying capital accumulation on the development strategies of labor-abundant and low-income countries are explored. It is concluded that the impact of the food price hikes on the alteration of a development strategy is only incremental, without reinforcement from raw-labor-saving innovation. A case study of inventions by JUKI Corporation, a world-leader in the sewing machine market exemplifies the fact that, of all the major inventions the company have made, raw-labor-saving inventions have not dominated, although JUKI's machines are sold to one of the most raw-labor-intensive industries.

Spatial price equilibrium and the transport sector : a trade-consistent SCGE model

This paper presents a framework for an SCGE model that is compatible with the Armington assumption and explicitly considers transport activities. In the model, the trade coefficient takes the form of a potential function,and the equilibrium market price becomes similar to the price index of varietal goods in the context of new economic geography (NEG). The features of the model are investigated by using the minimal setting, which comprises two non-transport sectors and three regions. Because transport costs are given exogenously to facilitate study of their impacts, commodity prices are also determined relative to them. The model can be described as a system of homogeneous equations, where an output in one region can arbitrarily be determined similarly as a price in the Walrasian equilibrium. The model closure is sensitive to formulation consistency so that homogeneity of the system would be lost by use of an alternative form of trade coefficients.

Is there any premium for unobservable quality? : a hedonic price analysis of the Malagasy rice market

This paper examines if consumers pay a premium for unobservable quality in the absence of quality standards and/or quality grading systems and, if so, how they assess that unobservable quality, using a rice retail market in Madagascar as an example. In Madagascar, the lack of quality standards and/or grading systems for rice makes is considered to be one of the causes of the rice market's spatial disintegration. Thus, quality standards and grading systems will be necessary to increase the market's efficiency. We hypothesize that consumers and retailers use product origin and rice name as observable indictors of unobservable quality and test the hypothesis using hedonic price regressions. We find that the interaction terms of product origin and rice name significantly affect the price after controlling for both observable quality and spatial and temporal price variation, but that the contribution of product origin and rice name to rice price variation is smaller than spatial and temporal factors. We thus conclude that consumers pay a premium for unobservable quality throughout Madagascar. This finding implies that quality standards and/or grading systems will work in the Malagasy market and that improving market infrastructure such as roads and storage will make them even more effective.

Price Formation and Real Estate Characteristics Residential Real Estate, Lisbon - Portugal

Análisis del proceso de formación de precios en el mercado residencial de Lisboa desde el punto de vista de la eliminación de los aspectos subjetivos de la apreciación por el tasador de las características de los inmuebles

Metabolic risk score indexes validation in overweight healthy people

The constellation of adverse cardiovascular disease (CVD) and metabolic risk factors, including elevated abdominal obesity, blood pressure (BP), glucose, and triglycerides (TG) and lowered high-density lipoprotein-cholesterol (HDL-C), has been termed the metabolic syndrome (MetSyn) [1]. A number of different definitions have been developed by the World Health Organization (WHO) [2], the National Cholesterol Education Program Adult Treatment Panel III (ATP III) [3], the European Group for the Study of Insulin Resistance (EGIR) [4] and, most recently, the International Diabetes Federation (IDF) [5]. Since there is no universal definition of the Metabolic Syndrome, several authors have derived different risk scores to represent the clustering of its components [6-11].

Dimensional synthesis of a spherical parallel manipulator based on the evaluation of global performance indexes

In this work, the dimensional synthesis of a spherical Parallel Manipulator (PM) with a -1S kinematic chain is presented. The goal of the synthesis is to find a set of parameters that defines the PM with the best performance in terms of workspace capabilities, dexterity and isotropy. The PM is parametrized in terms of a reference element, and a non-directed search of these parameters is carried out. First, the inverse kinematics and instantaneous kinematics of the mechanism are presented. The latter is found using the screw theory formulation. An algorithm that explores a bounded set of parameters and determines the corresponding value of global indexes is presented. The concepts of a novel global performance index and a compound index are introduced. Simulation results are shown and discussed. The best PMs found in terms of each performance index evaluated are locally analyzed in terms of its workspace and local dexterity. The relationship between the performance of the PM and its parameters is discussed, and a prototype with the best performance in terms of the compound index is presented and analyzed.

Optimisation of algorithms to compute information theoretic indexes

Analysis of big amount of data is a field with many years of research. It is centred in getting significant values, to make it easier to understand and interpret data. Being the analysis of interdependence between time series an important field of research, mainly as a result of advances in the characterization of dynamical systems from the signals they produce. In the medicine sphere, it is easy to find many researches that try to understand the brain behaviour, its operation mode and its internal connections. The human brain comprises approximately 1011 neurons, each of which makes about 103 synaptic connections. This huge number of connections between individual processing elements provides the fundamental substrate for neuronal ensembles to become transiently synchronized or functionally connected. A similar complex network configuration and dynamics can also be found at the macroscopic scales of systems neuroscience and brain imaging. The emergence of dynamically coupled cell assemblies represents the neurophysiological substrate for cognitive function such as perception, learning, thinking. Understanding the complex network organization of the brain on the basis of neuroimaging data represents one of the most impervious challenges for systems neuroscience. Brain connectivity is an elusive concept that refers to diferent interrelated aspects of brain organization: structural, functional connectivity (FC) and efective connectivity (EC). Structural connectivity refers to a network of physical connections linking sets of neurons, it is the anatomical structur of brain networks. However, FC refers to the statistical dependence between the signals stemming from two distinct units within a nervous system, while EC refers to the causal interactions between them. This research opens the door to try to resolve diseases related with the brain, like Parkinson’s disease, senile dementia, mild cognitive impairment, etc. One of the most important project associated with Alzheimer’s research and other diseases are enclosed in the European project called Blue Brain. The center for Biomedical Technology (CTB) of Universidad Politecnica de Madrid (UPM) forms part of the project. The CTB researches have developed a magnetoencephalography (MEG) data processing tool that allow to visualise and analyse data in an intuitive way. This tool receives the name of HERMES, and it is presented in this document. Analysis of big amount of data is a field with many years of research. It is centred in getting significant values, to make it easier to understand and interpret data. Being the analysis of interdependence between time series an important field of research, mainly as a result of advances in the characterization of dynamical systems from the signals they produce. In the medicine sphere, it is easy to find many researches that try to understand the brain behaviour, its operation mode and its internal connections. The human brain comprises approximately 1011 neurons, each of which makes about 103 synaptic connections. This huge number of connections between individual processing elements provides the fundamental substrate for neuronal ensembles to become transiently synchronized or functionally connected. A similar complex network configuration and dynamics can also be found at the macroscopic scales of systems neuroscience and brain imaging. The emergence of dynamically coupled cell assemblies represents the neurophysiological substrate for cognitive function such as perception, learning, thinking. Understanding the complex network organization of the brain on the basis of neuroimaging data represents one of the most impervious challenges for systems neuroscience. Brain connectivity is an elusive concept that refers to diferent interrelated aspects of brain organization: structural, functional connectivity (FC) and efective connectivity (EC). Structural connectivity refers to a network of physical connections linking sets of neurons, it is the anatomical structur of brain networks. However, FC refers to the statistical dependence between the signals stemming from two distinct units within a nervous system, while EC refers to the causal interactions between them. This research opens the door to try to resolve diseases related with the brain, like Parkinson’s disease, senile dementia, mild cognitive impairment, etc. One of the most important project associated with Alzheimer’s research and other diseases are enclosed in the European project called Blue Brain. The center for Biomedical Technology (CTB) of Universidad Politecnica de Madrid (UPM) forms part of the project. The CTB researches have developed a magnetoencephalography (MEG) data processing tool that allow to visualise and analyse data in an intuitive way. This tool receives the name of HERMES, and it is presented in this document.

Factors influencing metal price selection in mining feasibility studies

The mineral price assigned in mining project design is critical to determining the economic feasibility of a project. Nevertheless, although it is not difficult to find literature about market metal prices, it is much more complicated to achieve a specific methodology for calculating the value or which justifications are appropriate to include. This study presents an analysis of various methods for selecting metal prices and investigates the mechanisms and motives underlying price selections. The results describe various attitudes adopted by the designers of mining investment projects, and how the price can be determined not just by means of forecasting but also by consideration of other relevant parameters.

Analysis of the Iberian Power Forward Price Formation

The price formation of the Iberian Energy Derivatives Market-the power futures market-starting in July 2006, is assessed until November 2011, through the evolution of the difference between forward and spot prices in the delivery period (“ex-post forward risk premium”) and the comparison with the forward generation costs from natural gas (“clean spark spread”). The premium tends to be positive in all existing mechanisms (futures, Over-the-Counter and auctions for catering part of the last resort supplies). Since year 2011, the values are smaller due to regulatorily recognized prices for coal power plants. The power futures are strongly correlated with European gas prices. The spreads built with prompt contracts tend also to be positive. The biggest ones are for the month contract, followed by the quarter contract and then by the year contract. Therefore, gas fired generation companies can maximize profits trading with contracts of shorter maturity.