Household attributes and the future demand for retirement housing

Ageing populations provoke the question of how much bespoke housing should be provided for the elderly. Older people are generally reluctant to move but as they age health circumstances may encourage moves into specialised accommodation. This paper reports an exercise in estimating the future demand for specialised independent living housing and the extent to which that demand will be for owner occupied accommodation or renting, using data for England. The approach is based on a behavioral model related to health and housing issues. The forecasts indicate a substantial increase in demand, growing at a faster rate than the population as a whole. If supply does not rise to meet these demands, serious problems arise in the quality of life of, and cost of caring for, older people; with implications for health care and social services.

Asymmetric response of demand-supply mismatch to investor's sentiment

We look through both the demand and supply side information to understand dynamics of price determination in the real estate market and examine how accurately investors’ attitudes predict the market returns and thereby flagging off extent of any demand-supply mismatch. Our hypothesis is based on the possibility that investors’ call for action in terms of their buy/sell decision and adjustment in reservation/offer prices may indicate impending demand-supply imbalances in the market. In the process, we study several real estate sectors to inform our analysis. The timeframe of our analysis (1995-2010) allows us to observe market dynamics over several economic cycles and in various stages of those cycles. Additionally, we also seek to understand how investors’ attitude or the sentiment affects the market activity over the cycles through asymmetric responses. We test our hypothesis variously using a number of measures of market activity and attitude indicators within several model specifications. The empirical models are estimated using Vector Error Correction framework. Our analysis suggests that investors’ attitude exert strong and statistically significant feedback effects in price determination. Moreover, these effects do reveal heterogeneous responses across the real estate sectors. Interestingly, our results indicate the asymmetric responses during boom, normal and recessionary periods. These results are consistent with the theoretical underpinnings.

The evolution of electricity demand and the role for demand side participation, in buildings and transport

This paper explores the possible evolution of UK electricity demand as we move along three potential transition pathways to a low carbon economy in 2050.The shift away from fossil fuels through the electrification of demand is discussed, particularly through the uptake of heat pumps and electric vehicles in the domestic and passenger transport sectors. Developments in the way people and institutions may use energy along each of the pathways are also considered and provide a rationale for the quantification of future annual electricity demands in various broad sectors. The paper then presents detailed modelling of hourly balancing of these demands in the context of potential low carbon generation mixes associated with the three pathways. In all cases, hourly balancing is shown to be a significant challenge. To minimise the need for conventional generation to operate with very low capacity factors, a variety of demand side participation measures are modelled and shown to provide significant benefits. Lastly, projections of greenhouse gas emissions from the UK and the imports of fossil fuels to the UK for each of the three pathways are presented.

Price-based demand side management: Assessing the impacts of time-of-use tariffs on residential electricity demand and peak shifting in Northern Italy

One of the most common Demand Side Management programs consists of Time-of-Use (TOU) tariffs, where consumers are charged differently depending on the time of the day when they make use of energy services. This paper assesses the impacts of TOU tariffs on a dataset of residential users from the Province of Trento in Northern Italy in terms of changes in electricity demand, price savings, peak load shifting and peak electricity demand at substation level. Findings highlight that TOU tariffs bring about higher average electricity consumption and lower payments by consumers. A significant level of load shifting takes place for morning peaks. However, issues with evening peaks are not resolved. Finally, TOU tariffs lead to increases in electricity demand for substations at peak time.

Place making in Hellenistic Athens: beyond decline and foreign patronage

The study of cities is integral to the study of the Hellenistic Age, the period bounded by the deaths of two legendary rulers: Alexander in 323 BC and Kleopatra in 30 BC. Modern scholarship has followed in the footsteps of Johann-Gustav Droysen, who coined the term 'Hellenistic' in the nineteenth century and associated it with the diffusion of Greek culture through the founding of new cities in the East by Alexander and his successors. Hellenistic Athens, traditionally discussed under the rubric of its Classical legacy and/or in contrast with thriving cities, such as Pergamon, has been presented as a backwater exemplifying the demise of the 'polis'. My objective in this paper is to criticise these negative sentiments by exploring how the built environment of Hellenistic Athens could potentially become an indicator of city vitality.

The theme that dare not speak its name: Geopolitik, geopolitics and German foreign policy since unification

The purpose of this chapter is to trace the emergence of a new security imaginary in the foreign policy discourse in Germany during the 1990s and to determine whether it constitutes a return of Geopolitik in German foreign policy making. Does the re- appearance of geopolitical terms and expressions in the official and the academic discourses in post-unification Germany indicate such a shift? The essay will argue that the claims about a return of Geopolitik cannot be sustained. To the extent that the rhetoric of German government officials changes during the 1990s, this does not produce a coherent geopolitical security imaginary that stands diametrically opposed to the definition of political and institutional spaces of the Bonner Republik.

Is there a demand for sustainable offices? An analysis of UK business occupier moves (2006–2008)

‘Sustainable’ or ‘green’ commercial buildings are frequently seen as a growth sector in the property investment market. This research examines the emergence of sustainable commercial buildings in both the UK and overseas. The empirical part of the paper is based on a telephone survey of 50 UK corporate (private sector) occupiers taking leased and owner–occupied office space, which was carried out during the period of April to November 2008. The survey focused on actual moves made within the previous two years, or moves that were imminent during 2006–2008. The research suggests that although there is an emerging and increasing demand for sustainable offices in the UK, other factors such as location and availability of stock continue to remain more important than sustainability in determining occupiers’ final choice of office. Occupiers who moved to a Building Research Establishment Environmental Assessment Method (BREEAM)‐rated building, and were in business sectors with strong environmental and corporate responsibility policies, placed more emphasis on sustainability than other groups in the final choice of office, but location and availability remained paramount.

‘Nudging’ energy users: regulatory measures to address the risk of aggregate peak demand in European electricity markets

For decades regulators in the energy sector have focused on facilitating the maximisation of energy supply in order to meet demand through liberalisation and removal of market barriers. The debate on climate change has emphasised a new type of risk in the balance between energy demand and supply: excessively high energy demand brings about significantly negative environmental and economic impacts. This is because if a vast number of users is consuming electricity at the same time, energy suppliers have to activate dirty old power plants with higher greenhouse gas emissions and higher system costs. The creation of a Europe-wide electricity market requires a systematic investigation into the risk of aggregate peak demand. This paper draws on the e-Living Time-Use Survey database to assess the risk of aggregate peak residential electricity demand for European energy markets. Findings highlight in which countries and for what activities the risk of aggregate peak demand is greater. The discussion highlights which approaches energy regulators have started considering to convince users about the risks of consuming too much energy during peak times. These include ‘nudging’ approaches such as the roll-out of smart meters, incentives for shifting the timing of energy consumption, differentiated time-of-use tariffs, regulatory financial incentives and consumption data sharing at the community level.

Water vapour foreign-continuum absorption in near-infrared windows from laboratory measurements

For a long time, it has been believed that atmospheric absorption of radiation within wavelength regions of relatively high infrared transmittance (so-called ‘windows’) was dominated by the water vapour self-continuum, that is, spectrally smooth absorption caused by H2O−H2O pair interaction. Absorption due to the foreign continuum (i.e. caused mostly by H2O−N2 bimolecular absorption in the Earth's atmosphere) was considered to be negligible in the windows. We report new retrievals of the water vapour foreign continuum from high-resolution laboratory measurements at temperatures between 350 and 430 K in four near-infrared windows between 1.1 and 5 μm (9000–2000 cm−1). Our results indicate that the foreign continuum in these windows has a very weak temperature dependence and is typically between one and two orders of magnitude stronger than that given in representations of the continuum currently used in many climate and weather prediction models. This indicates that absorption owing to the foreign continuum may be comparable to the self-continuum under atmospheric conditions in the investigated windows. The calculated global-average clear-sky atmospheric absorption of solar radiation is increased by approximately 0.46 W m−2 (or 0.6% of the total clear-sky absorption) by using these new measurements when compared with calculations applying the widely used MTCKD (Mlawer–Tobin–Clough–Kneizys–Davies) foreign-continuum model.

Domestic and foreign bias in global real estate mutual fund investment allocations

The purpose of the study is to seek a better understanding of the investment allocation behaviour of the real estate mutual funds by focusing on asset allocation at the country level. Analysing the country allocation of 553 real estate mutual funds domiciled in 20 countries, we attempt to trace how investment bias exists across countries and affects their country allocations. Our results evidence the existence of disproportionate country allocation to their domestic markets (domestic bias) and to each foreign market (foreign bias). We also find each bias is influenced by different sets of variables: real estate market influences for domestic bias and familiarity influences for foreign bias. This difference in factors influential for each bias in part explains the conflated relationship between the two biases.

The legitimacy of foreign investors: individual attitudes toward the impact of multinational enterprises

Purpose – This article aims to analyze individual attitudes toward the impact of multinational enterprises (MNEs) on local businesses. These individual attitudes are important in understanding voters' preferences, which studies show to affect governmental policies. MNEs' market entry location decisions are conditioned by the host's political environment. Moreover, MNEs' attempts to attain legitimacy in their host contexts ultimately affect their bottom line, so how the public perceive MNEs matters. Design/methodology/approach – Using a large-scale data set, the paper carefully delineates between a set of potential mechanisms influencing individual attitudes to globalization in the context of individuals' attitudes toward the impact of MNEs on local businesses. Findings – The article demonstrates that there is remarkable heterogeneity and complexity in individual attitudes toward the impact of MNEs on local businesses and that these attitudes differ across regions and across countries. It is found that better educated individuals, those employed in the private sector, and those who do not have nationalistic tendencies are more likely to consider that MNEs are not harming local firms, while the opposite holds for those who are employed in “less skilled” occupations, such as those working in plants or in elementary occupations. The article also provides evidence that individuals' attitudes are determined by more than the labor market calculations these individuals might have. In fact, the socializing influence of education and the socializing impact of the individuals' type/sector of occupation also significantly determine the individual attitudes under study. Originality/value – This area of research remains substantially under-developed in the literature that analyzes individual attitudes toward globalization, which focuses on individual attitudes toward trade and immigration. Thus, the article not only aims to broaden the work on individual attitudes toward globalization, but it also aims to facilitate further discussion on the specific topic of individual attitudes toward MNEs.

Demand response — a different form of distributed storage?

Reduced flexibility of low carbon generation could pose new challenges for future energy systems. Both demand response and distributed storage may have a role to play in supporting future system balancing. This paper reviews how these technically different, but functionally similar approaches compare and compete with one another. Household survey data is used to test the effectiveness of price signals to deliver demand responses for appliances with a high degree of agency. The underlying unit of storage for different demand response options is discussed, with particular focus on the ability to enhance demand side flexibility in the residential sector. We conclude that a broad range of options, with different modes of storage, may need to be considered, if residential demand flexibility is to be maximised.

A review of the costs and benefits of demand response for electricity in the UK

The recent policy discussion in the UK on the economic case for demand response (DR) calls for a reflection on available evidence regarding its costs and benefits. Existing studies tend to consider the size of investments and returns of certain forms of DR in isolation and do not consider economic welfare effects. From review of existing studies, policy documents, and some simple modelling of benefits of DR in providing reserve for unforeseen events, we demonstrate that the economic case for DR in UK electricity markets is positive. Consideration of economic welfare gains is provided.

Demand, supply and willingness-to-pay for extension services in an emerging-market setting

Although it may be wholly inappropriate to generalize, the most important resource available to a subsistence household is the total amount of time that its members have available to spend in productive enterprises. In this context, services that minimize the time that it takes to perform productive activities are valuable to the household. Consequently the household is willing to relinquish quantities of other resources in exchange for quantities of the time-saving service. These simple observations motivate a search for the values that subsistence households place on time-saving services. This search is especially important when it is realized that extension services promote productivity, enhance the surplus-generating potential of the household and can, as a consequence, promote immersion into markets that are currently constrained by thinness and instability. In this capacity, extension visitation has the potential to overcome one of the principal impediments to economic development, namely lack of density of market participation. In this article, we consider this issue in the context of a rich data set on milk-market participation by small-holder dairy producers in the Ethiopian highlands.