Economic Price Research Articles

Peningkatan Produktivitas UKM Lontong Plastik Mini Modern di Desa Kolam


 
 SMEs are small and medium enterprises owned by individuals or individual business entities. Small and Medium Enterprises (SMEs) have an important role in supporting the national economy. Therefore, SMEs need to get attention from the government and academics. Various processed food products are produced by SMEs. Lontong is one of the staple food products that we often encounter and consume. Lontong is made from rice wrapped in plastic, banana leaves and boiled. The majority of Lontong business owners continue to produce their goods using firewood and improvised tools. As a result, the quality and production capacity remain low. However, on this occasion the researchers conducted research on the mini Lontong UKM located in the village of Pond, Kab. Deli Serdang Kec. Percut Sei Tuan here, researchers see the production process for making rice cake at Mrs. Risna's house. The manufacturing process is very modern because it uses modern cooking utensils, namely using a gas stove and the cooking process takes 6 hours faster. The mini size of the lontong and the cheap and economical price makes it attractive for the public to buy the product and the owner distributes it to markets and online media such as social media and other online media.
 Keywords : Lontong UKM, Productivity, Production Marketing

The effect of total density in closed transportation on the survival rate of bileh fish (Rasbora sp)

One of the freshwater fish that has an economical price and is endemic to the lake, Ie Sayang, is Rasbora sp. Generally, fish from farms are calmer and relatively less stressful in terms of transport. This research was conducted to determine the amount of different Total density on the survival rate of bileh fish (Rasbora sp.). This research is an experimental research with 4 trials and 3 repetitions. The experiments that were applied to this research were: P1 = number of fish 25 fish/l; P2 = number of fish 50 fish/l; P3 = number of fish 75 fish/l and P4 = number of fish 100 fish/l. The survival data of fish during further research was carried out by Anova analysis. The results of this research are that the highest average survival rate for bileh fish is P4 of 99.67% and average high ammonia value was obtained in experiment 4 of 2.87 ppm.

Low-Cost 3-D-Printer–Assisted Personalized Cranioplasty Treatment: A Case Series of 14 Consecutive Patients

The current study used polylactic acid molds [developed locally using three-dimensional printers and our software] and polymethyl methacrylate (PMMA) to perform cranioplasty of bone defects in technically demanding areas of the skull while ensuring ideal cosmetic results and functional recovery. The overall aim was to identify the ideal method for standard cranioplasty procedures METHODS: Polylactic acid duplicates of the skull defects were created for eligible patients, after which a two-part negative mold composed of plaster and silicone was used to form artificial bone with PMMA. Thereafter, cranioplasty was performed and the treatment success was assessed by evaluating the percentage of similarity objectively and the body image scale subjectively. No surgical complications were seen to occur in the 14 patients included in the current study. Furthermore, the subjective and objective evaluation revealed a significant improvement in outcomes (p < 0.05). No postoperative complications were observed over a follow-up period of 6 months, except in 1 patient who exhibited late infection. Cranioplasty operations were performed at an economical price of approximately US$50 dollars, suggesting that this method can be applied widely. Furthermore, preoperative preparation of the PMMA models can help reduce the duration of anesthesia and surgery which, in turn, will minimize the risk of surgical complications. Based on current knowledge in the field, we believe that this method represents the ideal technique.

Justification of the optimal option and transportation parameters for export supplies using marine transport

The object of this research is transport provision of supplies using sea transport. The problem of increasing the efficiency of transportation of bulk cargo by bulk carriers or universal destination by optimizing the option and parameters of transport equipment is considered. For categories of goods that are exported using sea transport, it is possible to use not only different options for transport equipment – own or leased (for vessels – time charter), but also different options from the point of view of the parameters of the vehicles. In this paper, the parameters are understood as the characteristics of sea vessels, on which the main economic indicators depend – deadweight, which reflects the size of the vessel and its carrying capacity for bulk carriers; as well as the age of the courts, which determines the cost of their rent and the level of operational costs. The result of the research is an optimization model that allows to determine for each market a variant of transport equipment and its parameters. Model not only distributes deliveries according to transport options, but also determines which vessels of what size and age (for time charter) should carry out transportation. These results are focused on the exporter's decision-making process about sales markets in combination with decisions on transport provision before concluding contracts. Varying the size and age of the vessels makes it possible to consider a wider range of options from the point of view of parameters. The practical use of the model allows the exporter at the stage of preparation (before the conclusion of contracts) depending on the volume of supplies and the market situation, including the freight one, to make decisions about options for transport support, which is taken into account when formulating transport conditions of contracts. Integral consideration of commercial (volumes of deliveries, transport terms of contracts), economic (price levels, freight rates, costs) and technological (size of vessels and their age) factors within the framework of the model allows taking into account the multifaceted nature of the problem of transport provision.

Measuring the frequency and quantile connectedness between policy categories and global oil price

This study explores the connectedness between various categories of economic policy uncertainty (EPU) and global crude oil prices in different frequencies and quantiles using the generalized forecast error variance decomposition and data in the US, China, and Japan from January 2000 to May 2022. The empirical results may be summarized as follows. First, total short and long term connectedness exhibits different patterns and is more sensitive to extreme positive and negative shocks than regular shocks. Second, fiscal policy uncertainty (FPU) and monetary policy uncertainty (MPU) tend to act as net transmitters of shocks, while the roles of trade policy uncertainty (TPU) are mixed in the short term, irrespective of the country. However, under extreme market conditions, no specific-category EPU features a clear net transmitter/recipient. Finally, the results are qualitatively and quantitatively unaffected by the chosen proxy of crude oil prices and are not altered by global real economic activity.

Systematic Literature Review on the Social and Economic Impacts of Palm Oil Certification on Smallholders

Enhancing smallholder compliance to palm oil certification standards helps in achieving the global sustainability agenda. Oil palm smallholders are one of the vital parts of the global certified sustainable palm oil (CSPO) supply chain. However, little is known about on the importance of palm oil certification for the social and economic development of smallholders. This present study aims to systematically review the social and economic benefits received by smallholders in implementing palm oil certification. The review was conducted in accordance with the published standard, namely the PRISMA statement (Preferred Reporting Items for Systematic reviews and Meta-Analyses). The articles of this study were chosen from two major databases, namely Scopus and Web of Science (WoS). The results show that smallholders gained both immediate and long-term social (livelihood, social network and agricultural practices) and economic (financial management, income, price and production) benefits through palm oil certification. If these benefits can be extended to all smallholders, it will help to boost the participation of smallholders in certification. The current progress, impacts and challenges faced by oil palm smallholders in palm oil certification implementation were discussed comprehensively. Future research and suggestions on the contributions of oil palm smallholders in successful certification were summarised. This eventually leading to achieving Sustainable Development Goals (SDGs) for benefits of the whole supply chain of Malaysian palm oil industry.

Should fiscal policies be centralized in a monetary union? A dynamic game approach

In this paper we analyze dynamic interactions in a monetary union with three fiscal players (the governments of the countries concerned) and a common central bank in the presence of exogenous shocks. The model is calibrated for the euro area and includes a fiscally more solid core block denoted as country 1 as well as a fiscally less solid periphery block represented by countries 2 and 3. Introducing two periphery countries allows us to capture different attitudes of the periphery countries towards the goal of sustainable fiscal performance. Moreover, different coalition scenarios are modelled in this study including a fiscal union, a coalition of periphery countries and a coalition of fiscal-stability oriented countries. The exogenous shocks are calibrated in such a way as to describe the last major crises in the euro area, namely the financial crisis, the European sovereign debt crisis, the Covid-19 crisis, and the Ukraine war (energy price) crisis. Using the OPTGAME algorithm we calculate a cooperative Pareto and non-cooperative feedback Nash equilibrium solutions for the modelled scenarios. The fully cooperative solution yields the best results. The different non-cooperative scenarios allow insights into the underlying trade-off between economic growth, price stability and fiscal stability.

Study of the Sustainability of Potato Farms in the Region of Oued Souf (Southern Algeria)

The objective of this study is to diagnose the potato sector in the El Oued region by highlighting the technical and environmental situation of this sector. For this purpose, a field survey was carried out at the level of 75 farms in the El Oued region. The Oued Souf region’s Farm Sustainability Indicator (IDEA) is important. The assessment of agro-ecological, socio-territorial and economic indicators indicates that the agro-ecological indicator is the most represented by (the indicator of fertilizer and agricultural practices) by 98 out of 100. The results of this study show that this crop presents a good adaptation to the conditions of the region. This sector is undergoing significant development and is of great importance because this agricultural activity represents an economic potential at the local, regional and national levels. However, this sector remains fragile in relation to various constraints of a technical nature (unreasonable irrigation and fertilization and high seed prices), economic (price fluctuations and disorganized markets) and environmental (diseases, weeds) which directly influence the functioning of farms and therefore their profitability. This is why it is necessary to face the problems encountered and fight against the factors that can hinder the sustainability of this sector and give a competitive value.

Temporal and inter-farm variability of economic and environmental farm performance: A resilience perspective on potato producing regions in the Netherlands

In the context of resilience and sustainability of farming systems it is important to study the trade-offs and synergies between economic and environmental variables. In this study, we selected food production, economic and environmental performance indicators of farms in three potato producing regions in the Netherlands: Flevoland, Zeeland and Veenkoloniën. We studied the period 2006 to 2019 using farm accountancy data. We used threshold regressions to determine gradual development and year-to-year variation of those indicators. Subsequently we applied a sparse Partial Least Square (sPLS) regression to study the response of performance, gradual development and year-to-year variation under different conditions regarding weather, market and farm structure. sPLS-model performance was at best moderate. Best model performance was attained for Veenkoloniën, a region with relatively little inter-farm variability and relatively stable economic prices. Model results were very sensitive to the selection of response variables. We found that food production, economic and environmental performance levels and gradual developments were primarily determined by input intensity levels. How these performance levels were determined by input intensity, i.e. positively or negatively, differed per case study. Year-to-year variability was determined by average yearly weather conditions and weather extremes. Overall, we conclude that the method applied to the data we had available mostly provided insights that confirm existing knowledge at case study level. sPLS can be seen as a filter and projector of high-dimensional data that accentuates patterns in the data. In the context of resilience of farms, while using a relatively small dataset, the applicability of our methodology seems limited to a rather homogeneous farm population in a stable economic environment. Researchers intending to apply this method to (arable) farming systems should be well aware of the influence they can have on the results through their selection of response variables.

The nexus between remittances, education, and energy consumption: Evidence from developing countries

Energy is essential for economic growth; however, energy consumption also negatively influences long-term economic progress by adversely affecting environmental quality and human welfare in the developing world. Developing nations strive to accomplish more development, which increases their energy consumption. Therefore, this study provides a comprehensive analysis of the dynamics of energy consumption in the context of developing economies using data from 1990 to 2019. By utilizing a host of second-generation econometric methods, the study has empirically analyzed the impact of personal remittances and education on energy consumption, while considering the possible effect of economic growth, energy prices, and trade to avoid omitted variable bias. A 1% increase in remittances leads to a −0.06735% reduction in energy consumption. A 1% increase in education causes a 0.496353% increase in energy consumption. A 1% increase in energy prices leads to a −0.008472% decline in energy consumption. The long-run results indicate that remittances and energy prices reduce energy consumption while education and economic growth increase energy consumption. Trade openness also stimulates energy consumption in these countries. The results imply that remittances and energy prices can be utilized as a tool to reduce energy consumption. We also used panel quantile regression for robustness check and the outcomes validated these findings. İnterestingly, the impact of remittances on energy consumption is more pronounced at upper quantiles. Lastly, the study is concluded by discussing policy directions.

Forecasting on metal resource spot settlement price: New evidence from the machine learning model

Accurate prediction of the price of metal mineral resources is of great practical significance for guiding the production of non-renewable resource enterprises and maintaining the stability of related economic price indexes. Based on the daily frequency spot settlement price data of lead, aluminium, aluminium alloy, tin, copper(A) and other metal minerals from Sep. 21, 2005 to Dec. 1, 2021, machine learning method is used to analyze the accuracy of hybrid models for predicting spot settlement prices of metal minerals. Firstly, we compared and analyzed the in-sample prediction accuracy of different models in spot settlement price of metal minerals, and found that the prediction accuracy of LSTM-GRU and LSTM-CNN models is significantly better than other models. Secondly, we verified the out-of-sample prediction results of spot settlement prices of metal minerals, which further demonstrates the robustness of the prediction accuracy of the LSTM hybrid model. Finally, we considered the impact of COVID-19 and explored the prediction accuracy of different hybrid models on spot settlement prices of metal minerals. We found that LSTM-GRU and other models also perform well with strong robustness. Therefore, we believed that the LSTM hybrid model, especially the LSTM-GRU model, is suitable for analyzing the prediction of spot settlement price of metal minerals.

The Relationship between Inflation, Exchange Rate, Money Supply and Economic Growth in The Gambia

Instability in the movement of prices is a major concern in all countries. The rise in foreign exchange and prices of goods and services are among the key factors that causes fluctuation in the economic growth of a country. Thus, this paper adopted the ARDL model to examine whether real effective exchange rate, economic growth and money supply causes Inflation in the Gambia for the period 1985 to 2021. The finding reveals that all our variables causes inflation positively and negatively in the long run and short run respectively at a significant level of 1% except real effective exchange rate and money supply which is significant at 5% level in the long run. The recursive cumulative sum shows that the relationship was stable and the square recursive cumulative sum reveals instability in the relationship of our dependent and independent variables which could be as a result of exogenous shock in output and increase amount of public debts. The study recommends the Gambian government to be caution in taking increase amount of public debts and also the central bank of the Gambia to move from monetary targeting to inflation targeting so as to maintain economic growth and price stability. However, the central bank of the Gambia should assess the entire economy before implementing the policy.

The Effects of Rising Energy Prices on Inflation in Croatia

The estimation of the price change effects caused by the impact of external shocks on the national economy is extremely important. The aim of this paper is to estimate the effect of the increasing global energy prices on the stability of the Croatian economy. The effects of the increase in energy prices are compared with other exogenous shocks, i.e., with the effects of the increasing gross wages and salaries and the increasing prices of imported goods and services. The impact of the changes in the prices of primary inputs on the trends in the economic sector prices was quantified using the input–output price model. The intensity of the transmission of the change in price of a primary input to other sectors through intersectoral dependence was analyzed. The results of the analysis indicate that the Croatian economy is extremely sensitive to energy price shocks. The estimated effects of increases in the prices of certain primary inputs, especially energy, on various economic sectors and on the overall economy are particularly significant when considering situations in which Croatia adopts the EUR, and when the price increases could affect the stability and successful completion of that process.

Fiscal consolidation in China: a dynamic computable general equilibrium analysis

ABSTRACT Inflation and overcapacity caused by fiscal expansion have begun to plague China’s economy. The surge in public debt caused by the perennial high deficit rate has led to accumulated debt risk. The lessons of the European debt crisis have forced China to re-examine its debt sustainability. A larger and more systematic fiscal consolidation is urgent. Based on China’s multiple fiscal accounts, this paper constructs a dynamic computable general equilibrium (CGE) model suitable for China’s scenario. By simulation, we evaluated the economic effects of revenue-based and spending-based fiscal consolidation and mixed consolidation and drew the following conclusions: (1) The success of fiscal consolidation requires paying a certain economic price. The industrial sectors closely related to the government bear more pressure from consolidation, which makes spending-based consolidation measures more advantageous in terms of cost because of their lower negative externalities. (2) China’s social security system has mitigated the effect on households during periods of fiscal consolidation, but the social insurance fund bears greater losses. (3) The mixed strategy of combining revenue and spending balance the contradiction between economic development and industrial structure in consolidation. While protecting the industrial structure, this strategy can complete the consolidation goal at a small economic cost.

Economic Feasibility of Retrofitting an Ageing Ship to Improve the Environmental Footprint

Natural gas is cheaper than fuel on an energy basis, making it an alternative ship fuel which leads to a reduced operating cost and clean gas environmental conditions. The current study analyses the retrofit of an ageing multi-purpose ship to use liquefied natural gas as a primary ship fuel in the context of a short-ship sea operation. The objective is to transform an existing commercial ageing ship propulsion system into a green energy propulsion one and to analyse the economic feasibility considering the high volatility and increased LNG price. Four scenarios were analysed based on the net present value representing Denying, Disinterested, Good and Acceptable financial cash outflow. It was concluded that in the present economic instability and price of LNG fuel and CO2 taxes, the ship owner needs to rely on the long-term contract of buying LNG fuel to implement measures to reduce greenhouse gas emissions and keep good benefits in shipping.

THE CAUSALITY BETWEEN AGRICULTURAL RAW MATERIALS AND ECONOMIC POLICY UNCERTAINTY: EVIDENCE FROM THE TIME-VARYING GRANGER CAUSALITY

This paper aims to examine the time-varying dynamics of the causality interaction between agricultural raw materials commodity prices and the US economic policy uncertainty (EPU). To this end, we use monthly data for the period spanning from January 1992 to November 2021. We employ a time-varying Granger causality test to provide empirical evidence about the time-varying dynamics of the causality interaction and thereby revealing potential heterogeneities of these interactions during major historical events. The results show that causality running from EPU to agricultural raw materials, as well as causality running from agricultural raw materials to EPU, exhibits time-varying dynamics. More specifically, the findings reveal that causality generally tended to run from agricultural raw materials to EPU for most of the 2000-2014 period, but reversed with the US-China trade war and the Covid-19 pandemic period. This result highlights the importance of modeling the potential causality interactions in the economic uncertainty-commodity prices nexus within a dynamic framework and implies that these interactions cannot be considered independently of the prevailing economic, political and global conditions.

Utilization of iPad Pro LiDAR and Low-Cost GNSS Ublox F9R for Data Collection of Road Assets in the Form of 3D Models

The development of mapping survey equipment technology products is growing very rapidly. These products include Global Navigation Satellite System (GNSS) and Light Detection and Ranging (LiDAR) technology. The current development of GNSS receivers can be seen in terms of accuracy and price. The GNSS receiver has very high accuracy, especially with the integration with the inertial measurement unit (IMU). This integration system can provide benefits such as estimation of GNSS position data and GNSS data stability. One of the GNSS receiver products that has been integrated with IMU, has an accuracy below 1 meter, and at an economical price is the low-cost GNSS receiver U-blox F9R series. This receiver has a positional accuracy of 0.01 + 1 ppm. LiDAR products are commonly used for the manufacture of 3D objects and distance determination on Autonomous Vehicles, however, in 2020 the company Apple inc. has made a smartphone device that is integrated with LiDAR technology. One of the goals of using this integration system is to visualize 2D objects into 3D Augmented Reality (AR). In this study, iPad Pro LiDAR technology was used to create a 3D road model. This activity continues from previous studies that have used the iPad Pro LiDAR for making 3D buildings and measuring tree diameters. In research related to the manufacture of 3D buildings, the iPad Pro LiDAR has been analyzed and it is stated that it has an accuracy of 2 cm. However, this observation using the iPad Pro LiDAR still does not provide actual position information. One way to get the true position value is to use position data from the GNSS receiver. In this study, the GNSS observation method receiver used is Real Time Kinematic Networked Transported of RTCM via Internet Protocol (RTK-NTRIP). This method utilizes the Global System for Mobile Communications (GSM) network to transmit corrections from several nearby Continuously Operating Reference Stations (CORS) in Radio Technical Commission for Maritime Services (RTCM) format to the user’s receiver. This activity aims to create a database of road assets in 3D with real positions by utilizing the integration between GNSS, IMU, and iPad Pro LiDAR. From this study, it was found that the volume measurement data using GNSS data has a value of 4,930 m3. Meanwhile, processing using 3D model data from the iPad Pro 2020 resulted in 4,422 m3. The results of the two data have a volume difference of 0.5 m3 or 10% of the validation data.

Investigation of the Effect of Risk Perceptions of the Generation Z Consumers' Against Refurbished Products on Their Purchase Intention

Changes in the consumption culture of individuals, the economic problems experienced and the increase in environmental awareness cause significant increases in the sales of refurbished products, especially technological devices. While the growth of the refurbished product market contributes to consumers having these products at more economical prices, it also contributes to the reduction of the production costs of the enterprises and, from an environmental point of view, to the prevention of possible waste and damages that may arise during the production of new products. Therefore, it would not be wrong to argue that the sales of refurbished products will increase gradually and to predict that the refurbished product market will grow by diversifying. The present study investigates the effect of perceived risk dimensions of young consumers living in Turkey on their intention to purchase refurbished products. The reason why the Z generation was chosen in the study is to learn the buying habits of new or renewed products in technological products and to examine their attitudes towards refurbished products as a generation born and grown up in technology. Another reason for the selection of the Z generation in the research is that the Z generation, which constitutes an important part of society in Turkey, directs technological trends. It is thought that the findings of the research will make significant contributions to the marketing decisions of the companies producing technology for the Z generation, lawmakers and researchers. The research was carried out between January and March 2022 with 415 participants living in Istanbul, Turkey’s largest city, determined by the convenience sampling method. In this research, regression analysis was used to test the hypotheses. The research was carried out with 415 participants. As a result of the research, it was determined that social risk has a low positive and significant effect on the effect of perceived risk dimensions of Generation Z consumers on the purchase intention of the refurbished product, performance risk has a low negative significant effect, psychological risk has a good positive and significant effect, time risk has a low positive significant effect, and physical risk has a low negative and significant effect. These results show that the psychological risk perception of Z generation consumers is important in their renewed product preferences. For this reason, companies should be careful to offer products that meet the expectations of consumers for refurbished products and not disappoint Z generation consumers.

Causal Factors Of Consumer Loyalty To Online Food Delivery Services Of Delhi

Background: The internet-based cuisine transportation industry observed noteworthy expansion, transforming the approach individuals requested and obtained their repasts. This metamorphosis was propelled by elements such as the ubiquitous utilization of portable gadgets and the escalating need for expediency in everyday existence. Internet-based food delivery services gained popularity in Delhi, offering a wide range of culinary options and timely delivery to meet the needs of customers. Objective: This investigation endeavored to scrutinize the elements that impacted patron allegiance to web-based cuisine transportation amenities in Delhi and assessed the correlation between client gratification and faithfulness. Methodology: This study employed hybrid research methodology, gathering qualitative data through a structured questionnaire (n=50) in the NCR Delhi and secondary data from sources like trade publications, scholarly journals, and online repositories. Elements Analyzed: Ease of use, Food options quality, Consumer engagement, Delivery efficiency, Economical pricing, Client support. The quantitative data was analyzed using survey response metrics and descriptive statistics (mean, median, mode, standard deviation). The analysis involves descriptive examination of survey responses and correlation analysis for associations. Results: Ease of use: 4.5/5 (Average), Food quality: 85% above satisfactory, Consumer engagement: 70% high, Delivery efficiency: 90% prompt, Pricing: 60% reasonable, Client support: 80% helpful. The scrutiny furnished perceptions into the factors that influenced customer allegiance and the correlation amid ease, cost competitiveness, patron contentment, and allegiance. The outcomes were exhibited employing statistical metrics, association coefficients, and significance levels. Conclusion: The exploration aided in comprehending the elements that impacted patron fidelity to web-based cuisine conveyance amenities in Delhi. It emphasized the significance of ease, patron contentment, consumer involvement, punctual dispatch, rivalrous cost, and efficient patron maintenance in cultivating allegiance.

Effect of fiscal expansion on inflation during the period of unconventional monetary policy

Economic supply shocks and fiscal expansion coupled with monetary expansion are suspected causes of the rise in inflation that we observe in most of the developed and developing economies today. In this paper we look at the effect of the government budget deficit(surplus) or fiscal policy stance, and quantitative easing on inflation while controlling for economic shocks using the method of cointegration as we find data series in our model to be integrated of order one and having support of one cointegrating equation between the variables. Our analysis is performed using Federal Reserve monthly data from 1994 to 2022 using Two-Step Engle-Granger (1987) method and Fully Modified OLS by Phillips and Hansen (1990). We compare these models to Auto Regressive Distributed Lag model of Pesaran and Shin (1998) which allows for analysis irrespective of the order of integration to provide for more robustness regarding the estimated relationships in cases of misspecification of stationary properties in our time series. Both cointegrating models lend support to the initial postulated relationship where expansionary fiscal policy has significant positive impact on the price level during the long run but also enhances the effect of the Quantitative Easing on the price level as the interaction term between these variables is significant, indicating that during the periods of expansionary fiscal policy, expansionary monetary policy through Quantitative easing has bigger effect. Our analysis is performed controlling for effect of economic shocks and price of real exchange rate on the price level. Stability of the cointegration model tests reveal presence of structural breaks which when included in the cointegrating equation change the importance of the impact that fiscal stance has on inflation and reveal that inflation is mainly result of the expansion in central bank assets after 2008, which coincides with period of unconventional monetary policy