Price Level Research Articles

Menakar Peran Persepsi Harga dalam Penciptaan Keputusan Pembelian Jasa Wisata

This research located in Mangkang Zoo. The aim of the research is to evaluate services that influence the decision to purchase tourism services at the Mangkang Zoo, Semarang, by considering perceptions of price as a moderating factor. This research shows that service quality has an impact on purchasing decisions at the Mangkang Zoo, Semarang. Meanwhile, other findings, namely price perception, show that service quality has an influence on purchasing decisions, with price as a mediating variable at the Mangkang Zoo, Semarang. This illustrates that management has succeeded in implementing an appropriate pricing policy, including in terms of price levels, special price offers, payment processes, payment terms, all of which are in line with the quality of the services provided. The population studied was visitors who decided to use tourist services at the Mangkang Zoo, Semarang, with an unspecified number. The sampling method was carried out by chance and involved 100 respondents. The research results are that service quality has an impact on the decision to purchase tourism services at the Mangkang Zoo, Semarang. Furthermore, perceptions of price also have a positive and significant influence in strengthening the correlation between service quality and purchasing decisions for tourism services at the Mangkang Zoo, Semarang.

A sequential real options analysis for renewable power-to-hydrogen plants for Germany and California

The novelty of large-scale green hydrogen technology with its numerous applications, and the competition with well-entrenched conventional technologies, still makes it difficult to operate renewable power-to-hydrogen (P2H) plants profitably. In this study, sequential investments in the P2H plants are investigated using a Real Options approach. The analysis addresses the question of what the optimal timing is for sequential investments in P2H modules that enable hydrogen feed-in into the gas grid in Germany and California, both pioneers in the sustainable energy transition. Choosing this approach, the uncertain and largely irreversible character of the P2H investments is tackled. Since the focus is on substituting natural gas by adding green hydrogen to the gas grid, the underlying asset considered as stochastic is the price of natural gas. It is modeled by applying a geometric Brownian motion process. The analysis conducted reveals that for both California and Germany polymer electrolyte membrane (PEM) electrolyzer systems are uneconomical in the foreseeable future, at least based on the assumptions made in the case studies. The required natural gas price level that would enable economic viability of gas grid feed-in exceeds the level of today's natural gas prices many times over. Without policy support (e.g., subsidies or quotas for green hydrogen, sufficiently high carbon tax), or an increased willingness to pay for green fuel on the customers' side, it is unlikely that the required minimum hydrogen price level for profitable business will be reached any time soon.

Anchoring Effect and Influence of Knowledge on Consumers Willingness to Pay for Organic Food Online: An Online Experiment on Chinese Consumers of Organic Food

This study investigates how the anchoring effect affects peoples willingness to pay for organic food in an online purchasing environment.The aim of this study is to find out whether anchoring has an impact and how it affects peoples value perception of online organic food and, thus, their trust in and willingness to pay for organic food. Moreover, this study also aims to find out how knowledge of external reference prices of the same type of organic food provided by other online sellers moderates peoples willingness to pay when given a price anchor. This study uses an online survey to perform the experiment and uses quantitative analysis methods to validate the results. The study finds that anchoring does have an impact on peoples willingness to pay for organic food online, even when people face an exaggerated price provided by the online seller. Moreover, knowledge of external prices moderates peoples willingness to pay. People tend to adjust their willingness to pay towards the average level of external prices.

Temperature Control Strategy to Mitigate Electrical Energy Cost for Air Conditioning

The purpose of this paper is to developed an innovative strategy to support small consumer on reducing the electrical energy cost (EEC), define total electrical energy cost (TEEC) and compute the benefit of the pre-cooling model (BPM). The suggested method enables small consumers to manage the peak electricity demand for air conditioning (AC) autonomously and proactively. In this research, a pre-cooling model (PM) has been applied to anticipate an unexpected level of the electricity price. The main contribution of this research is to develop a PM to avoid an extreme electricity price and examines the EEC, TEEC and compute the BPM during hot days, peak season and considering to the probability spike (Pr). The finding results of research illustrated that the EEC for AC can be reduced from IDR 7539 to IDR 5199 and from IDR 13310 to IDR 9394 for hot days and peak season cases, respectively. The TEEC can be examines to be IDR 5200 and IDR 8888 when the Pr may occur during hot days and peak season, respectively. When applied the proposed method that the consumer and aggregator can earn collective benefit, such as: IDR 2340 (31.03 %) and IDR 3916 (29.42 %) if considering to hot days and peak season respectively; as well as IDR 2159 (28.63 %) and IDR 4422 (33.22 %) if considering to Pr that may occur in the midday and peak season, respectively. Consequently, it can be concluded that the suggested model is effective way to keep comfortable of room temperature, controlling electricity peak demand and reduce electricity cost for the AC. This model is evaluated based on the data from the South Sulawesi electricity market price and demand curves provided by the Indonesian State Electricity Company (referred to as PLN), as well as the value of outside temperature (Tout) considering to characteristic of building in the Makassar region.

An Empirical Investigation of the Quantity Theory of Money in Pakistan

One of the macroeconomic objective is to have price stability. The quantity theory of money (QTM) explains the nexus between money supply and price level in the economy thus, QTM provides the theoretical framework for monetary policy to bring price stability. Therfore, this study investigates the validity of QTM in Pakistan in time series study. This study applied different econometric techniques, unit root tests, cointegration test, and fully modified ordinary least square (FMOLS) cointegration regression. The variables money supply, price level, interest rate and output are cointegrated in the long run. The results of the FMOLS regression indicate positive and significant effect of money supply on price level henceforth; this study validate the QTM in Pakistan. The study suggests that monetary policy can effectively control the price level in the economy to maintain economic stability and sustain economic growth.

Formulation of SCP-Based Coconut Sugar Marketing Model Through Analysis of Marketing Patterns in Central Java Province, Indonesia

This study aims to analyze the marketing pattern of coconut sugar products, describe the stakeholders involved in the marketing of coconut sugar, and develop a structure, conduct, performance (SCP) based marketing model for coconut sugar. This research method is a quantitative descriptive method. The research location was determined purposively in the coconut sugar production center of Central Java Province (Banyumas, Purbalingga, and Cilacap Regencies). The research respondents were 60 people consisting of coconut sugar makers who were members of the Joint Business Group (KUB) and 60 people, 10 collectors traders, 2 wholesalers, and 4 institutional exporters. Data were analyzed descriptively. Data analysis for the basic structure by measuring market share size and concentration (CR4). The basis of conduct is through analysis of sales and purchasing processes, payment systems, and institutional cooperation. The basis of performance is obtained from the analysis of the margins of the trading system and the level of prices received by farmers. The results showed that there are two marketing channels for coconut sugar. A tight oligopsony is formed based on the CR4 (Concentration Ratio for the Big Four) value, while the Herfindahl index value shows that the market formed is an oligopoly. Market behavior occurs when the payment system is made in cash at the level of collectors and non-cash at the level of wholesalers. In market performance, the largest marketing margin is in the marketing channel pattern 1 of Rp. 8415.4/kg, the lowest in the channel 2 pattern of Rp. 6500/kg. The highest Farmer share value is in the marketing channel pattern 2 as 74%, and the lowest is in the channel 1 pattern at 66.3%.

Inventory model for deteriorating goods with stock and price-dependent demand under inflation and partial backlogging to address post Covid-19 supply chain challenges

Due to Covid-19 pandemic, the supply chain and the market have been affected severely. So, the need for a model based on certain scenarios arises to restore the post-Covid-19 disruptions. In this article, an inventory model for non-instantaneous deteriorating commodities has been developed under inflation where shortages are permitted and are assumed to be partially backlogged. The demand of the product is influenced by the price and stock. The primary aim of this study is to formulate a recovery model that will increase total average profit. In this research, the selling price and the total cycle time are taken as decision variables. The maximum average profit and the optimal values of the decision variables are determined using the graphical method in Mathematica and graphs have been provided to show the relation between total profit and the decision variables. It has been observed that when the selling price rises, the overall profit rises and then declines after it reaches a certain price level. Additionally, as the rate of inflation rises, the overall profit increases. Numerical examples are illustrated to demonstrate the model and sensitivity analysis has been performed to analyze the impacts of different parameters on the optimal solutions. It has been found that the total profit is highly sensitive to the basic demand and least sensitive to the backlogging parameter.

Grandfather-based or benchmark-based: Strategy choice for carbon quota allocation methods in the carbon neutrality era

Climate change and extreme weather caused by the greenhouse effect have attracted global attention. Governments and public sectors are beginning to recognize the importance of reducing carbon emissions and have reached a consensus on “carbon neutrality.” This study investigates the strategic choice of carbon quota allocation methods within a supply chain framework, involving a policy maker (government), a manufacturer, and a retailer. At the outset, the government selects either the grandfather-based allocation method (Method G) or the benchmark-based allocation method (Method B) to regulate the manufacturer's carbon emissions. Subsequently, the manufacturer determines the level of carbon emission reduction and wholesale pricing, and the retailer sets the order quantity based on the manufacturer's decision. Drawing on equilibrium outcomes, this research compares the optimal decisions of firms, carbon emissions, consumer surplus, overall social welfare, and supply chain sustainability under these two methods. The research highlights several major findings. First, regardless of which allocation method is adopted, a rise of the initial carbon emission in producing process will lead to an increase in the wholesale price, but a decrease in emission reduction level and the order quantity. Second, under method B, the manufacturer reduces more carbon emission. Third, from the social welfare perspective, the method B/G is a better choice for the government when the environmental damage coefficient is relatively low/high. Fourth, when carbon quota and the initial carbon emission meet some certain conditions, the method B can achieve environmental sustainability and economic sustainability.

Inflation Persistence and Implications for the Euro Area

The deceleration of consolidation trends subsequent to the previous financial crisis has had a mitigating effect on price dynamics. Furthermore, the expansionary fiscal and monetary measures implemented to stimulate the recuperation of crisis-affected economies did not yield substantial inflationary consequences. The disruptions in supply chains caused by the pandemic, the increased use of expansionary fiscal and monetary policies in response to the outbreak, and the influence of geopolitical factors such as energy prices have recently rekindled the capacity of price level dynamics to react. When the underlying economic factors deteriorate, it leads to an increase in vulnerability and a decrease in the ability of the euro area to withstand adverse events. During periods of economic prosperity, the monetary policy implemented by the European Central Bank (ECB) has the tendency to enhance the convergence of countries within the euro area and bolster its resilience against adverse economic disturbances. The findings of the article provide support for arguments emphasizing the need to adjust the institutional framework of the euro area, hence reinforcing the rationale for the concept of a two-speed euro area.

Internationalization as a change of the company's socio-economic environment

Abstract Globalization of an enterprise is a multi-threaded and complex phenomenon, which is why there are many definitions of this concept. Most authors use it to refer to three elements: worldwide reach; worldwide homogeneity; global integration - a category of dependence and tightening international connections, means an enterprise that clearly feels the effects of events taking place in other countries, as opposed to the local market, where the foreign situation has a negligible impact on the price level, competition dynamics, demand and current fashions. Internationalization and globalization require companies to use different strategies, which depend on the company's structure, form of business, and geographical structure. However, it seems that these processes encourage enterprises to choose an operating strategy based more often on mergers, acquisitions and building strategic alliances with competitors, i.e. choosing an external path of growth and development.

WHAT DRIVES MOVEMENTS IN THE INCOME VELOCITY OF MONEY? A CASE STUDY OF THE U.S.

In their efforts to stabilize the price level, central banks often rely on the growth rate in the stock of money as an intermediate target variable. Usually, the premise underlying this approach is that the income velocity of money, defined as the ratio of nominal GDP to the stock of money, either randomly fluctuates around a constant mean or can, at least, be predicted with sufficient accuracy. The purpose of this paper is to put this assumption to the test. We do so by applying a first-order autoregressive model, supplemented by a set of lagged exogenous regressors, to the quarterly changes in velocity in the U.S. Our results confirm previous findings that dynamic dependencies exist between changes in the income velocity of money over successive periods of time. They also support the assertion that rising long-term interest rates lower the demand for money. Perhaps most importantly, however, we find that all else being equal, the degree of financialization in the economy, measured by the ratio of financial assets to GDP, has a positive and statistically significant effect on velocity. A possible explanation of this finding is the increasing availability of tradable, non-monetary financial instruments that are close substitutes for bank deposits.

Effect of Demonetization on Indian Economy

India is the developing country. The farm field is the prior base in the economy of India. There are many farmers who live in the rural area therefore they prefer the cash transaction. During the period of demonetization winter season is the prime season for the farmers and during this season, the farmers are in need of seeds to farm their land. To purchase the seeds they are in need of cash amount. The new currency notes are not enough available into the market so these farmers were suffered to farm their land without the seeds. In need of money farmers had to sell their grocery, vegetables with low cost and daily farm labors did not get their wages. Most of the common businesses suffer due this demonetization. The demand into the market is not up to the mark or effective so this act directly affected to the production process of the business. The production graph is low during the month of November and due to this, less demand into the market resulted into the unemployment for the daily wages or the common people. to pay the cash amount to the workers company has shortage of cash amount and not only that the common people suffer to get exchange of 2000 new currency note into the market. People collected the 500 rupees note and do not make active into the market to purchase the product. These resulted into the less force of currency use. As per the Phisher formula MV=PT. When M is controlled by the system is directly affected to V. Therefore, P (price level) and T (quantity) affected. In India majority of the people are using the cash transaction therefore, we noticed the effect of demonetization in to the market place.

Analysis of the marketing impact on the market and the end user of vegetable production

The object of the research is the marketing impact on the market and end consumer of vegetable products. In the research process, a number of general scientific and special methods were used, in particular: system-structural analysis and synthesis as the main methodological tool, monographic and extrapolation. The marketing influence on the market and the final consumer of vegetable growing products is disclosed. A marketing research of the vegetable market on the domestic and foreign markets was conducted, which is a necessary condition for the formation of an effective strategy and tactics for the development of marketing in this area. After all, the ratio of supply and demand in the vegetable market determines the movement of capital and the transfer of resources between industries and regions, affects the level and dynamics of prices and, therefore, is a key factor in the formation of producers' income. The development of new management methods and approaches convincingly demonstrates the need to implement marketing as one of the market tools capable of meeting the needs of the market and combining the interests of business entities. The development of new management methods and approaches convincingly demonstrates the need to implement marketing as one of the market tools capable of meeting the needs of the market and combining the interests of business entities. An important role is given to the factor of time and information. It has been proven that the quality and efficiency of the marketing system of the vegetable growing industry is ensured by the scientific methodical development, the objectivity of quantitative and qualitative assessments, the creation and implementation of a rational system of evaluation and management of this system, as well as the level of the marketing organization. The practical significance lies in the methodological substantiation and conceptualization of the role of marketing influence on the market and consumer of vegetable production.

Cost-benefit Analysis and Financial Viability of Household Biogas Plant Investment in South Ethiopia

This study investigates the cost–benefit analysis and financial viability of biogas plant investment in South Ethiopia. A multi-stage sampling technique was employed to select sample households. A total of 105 adopter households were selected for household survey using a purposive sampling technique. All the households adopting biogas technology were considered. Besides, a biogas plant with 6 m3 and 8 m3 sizes were selected because they were the most commonly used size in the study area. Data were collected from the household survey, key informant interviews, focus group discussion and market price assessment. The installation cost took the largest share of the total cost of construction and was one of the main constraints that hindered adoption. The findings of the study indicate that the production of biogas increased household income by reducing the costs incurred for buying firewood, kerosene and chemical fertilizers. Relatively, lower plant size was more profitable than larger plant size. Installation under the subsidy scheme was more financially viable at 10% discount rate than its counterparts. Subsidy is important to enhance biogas plant investment, particularly for larger biogas plant sizes. Nevertheless, both plant sizes, installed without subsidy, had smaller NPV values and UDBP greater than 1 year, making this scenario financially less viable. Installation of low cost plants could more attract the engagement of a large number of rural households with low economic capacity. However, both plant sizes (6 m3 and 8 m3) are financially viable and profitable at 10% discount rate. Moreover, the profitability of biogas investment is highly sensitive to variation in discount rates, level of expenditure savings and input prices.

Analisis Inflasi Terhadap Pertumbuhan Ekonomi Di Indonesia

Developing countries tend to experience inflation, countries with inflation rates of less than 3% are still achieving normal standards, while countries with high and unstable inflation experience economic instability. increase in prospects. A general and continuous decline in the price level of goods and services in a country leads to higher levels of poverty and unemployment. This study uses quantitative methods using time series data collected between 2016 and 2020 and statistical calculations using SPSS. The results showed that the inflation rate was 3.532> t table 2.306 and the significance level was 0.039 < . 0.05, which means that inflation affects Indonesia's economic growth / Growth Domestic Product (GDP).

Revisiting ‘Pricing and the Investment Decision’

ABSTRACT ‘Pricing and the Investment Decision’, written with Peter Kenyon and published in Kyklos in 1976 contributes to post-Keynesian economics by analysing the determination of the mark-up of price over unit cost by large oligopolistic firms. Mark-ups are set to provide sufficient retained earnings under expected future conditions to finance the level of the firm’s planned investment expenditure. This provides a causal link at the microeconomic level from planned investment to corporate saving via the price level, paralleling the causal link at the macroeconomic level from aggregate investment to national saving and from mark-ups to income distribution. Although the explanation of the mark-up through linking pricing to investment plans is widely accepted as part of post-Keynesian pricing analysis, these contributions have not attracted interest from the mainstream and even amongst among post-Keynesians there are competing explanations of pricing. We discuss the impact that explaining pricing through investment needs has had and relate this outcome to the debate about micro-foundations of macroeconomics.

ARE MONEY AGGREGATES GOOD PREDICTORS FOR THE BULGARIAN INFLATION RATE?

The purpose of this article is to study the relationship between the increase of the money stock and the increase of the price level in the Bulgarian economy through the implementation of a monetarist price gap model and through the study of VAR forecasting performances. Firstly, we obtain that the price gap, namely the difference between the theoretical sustainable price level as defined using the equation of exchange and the observed price level is a relevant predictor for inflation dynamics in Bulgaria. Secondly, the analysis of the performance of VAR forecasts of inflation show that the M2 money supply is a fundamental variable present in the best forecasting models, evaluated through their predictive accuracy, when tested on the recent inflationary upswing which began in the third quarter of 2021. This finding is especially important for Bulgaria, given that its monetary policies are bonded to those of the European Central Bank (ECB) through its local currency board. The ECB’s expansionist monetary policy in the wake of the COVID-19 pandemic can thus be seen as one of the factors explaining the unusually high inflation level in Bulgaria.

Inflation targeting: A time-frequency causal investigation

The enduring discourse regarding the effectiveness of interest rate policy in mitigating inflation within developing economies is characterized by the interplay of structural and supply-side determinants. Moreover, extant academic literature fails to resolve the direction of causality between inflation and interest rates. Nevertheless, the prevalent adoption of interest rate-based monetary policies in numerous developing economies raises a fundamental inquiry: What motivates central banks in these nations to consistently espouse this strategy? To address this inquiry, our study leverages wavelet transformation to dissect interest rate and inflation data across a spectrum of frequency scales. This innovative methodology paves the way for a meticulous exploration of the intricate causal interplay between these pivotal macroeconomic variables for twenty-two developing economies using monthly data from 1992 to 2022. Traditional literature on causality tends to focus on short- and long-run timescales, yet our study posits that numerous uncharted time and frequency scales exist between these extremes. These intermediate scales may wield substantial influence over the causal relationship and its direction. Our research thus extends the boundaries of existing causality literature and presents fresh insights into the complexities of monetary policy in developing economies. Traditional wisdom suggests that central banks should raise interest rates to combat inflation. However, our study uncovers a contrasting reality in developing economies. It demonstrates a positive causal link between the policy rate and inflation, where an increase in the central bank’s interest rates leads to an upsurge in price levels. Paradoxically, in response to escalating prices, the central bank continues to heighten the policy rate, thereby perpetuating this cyclical pattern. Given this observed positive causal relationship in developing economies, central banks must explore structural and supply-side factors to break this cycle and regain control over inflation.

Optimal allocation of the EU carbon budget: A multi-model assessment

The European Union (EU) has pledged to reduce greenhouse gas (GHG) emissions until the year 2030 by 55% compared to 1990. Recently, the EU institutions decided to introduce a new Emission Trading System for road transport, buildings and fuels for additional sectors (ETS2) in addition to the current EU ETS. Contested design features were the split of the carbon budget between the EU ETS and the remaining sectors regulated under the Effort Sharing Regulation (ESR), and the carbon price level of the ETS2. Conducting a multi-model assessment, we find that the agreed allocation of the carbon budget between EU ETS and ESR sectors seems almost optimal from an economic efficiency point of view. We also find that if carbon prices are the only instruments used, the prices necessary to reach the emission targets range from 130 to 286 €/tCO2 in the EU ETS and from 175 to 360 €/tCO2 for the energy-related ESR (ESR-E) emissions – depending on technology development and baseline assumptions of the different models. Our results imply that when the ETS2 price does not go above the “indicative cap” of 45 €/tCO2, the abatement target will not be reached with a carbon price alone. The remaining abatement needs to come from complementary policies like technology standards or subsidies. As abatement costs from these policies are above 45 €/tCO2, effective costs for consumers could well exceed the costs of carbon pricing alone due to inefficiencies that arise from the lack of flexibility to mitigate emissions where it is cheapest.

ENFLASYON VE TÜKETİCİ KREDİLERİ ARASINDAKİ İLİŞKİ: TÜRKİYE İÇİN ASİMETRİK NEDENSELLİK TESTİ BULGULARI

Inflation, which is defined as the continuous increase in the general level of prices, is one of the important factors that hinder the economic and social development of a country. On the one hand, inflation affects the amount of bank loans, on the other hand, bank loans can cause inflation. From this point of view, in this study, it is aimed to investigate the causality relationship between inflation and consumer loans for the period 2005/12-2023/06 in Türkiye. “Whether or not there is causality between the variables, and if there is a causal relationship, the directions were analyzed using the "Toda-Yamamoto" method. According to the results of the Toda-Yamamoto causality test, a causal relationship was found between inflation and housing and vehicle loans at the 5% significance level.” On the other hand, no mutual causality relationship was detected between the variables of inflation and consumer loans.