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Purchasing power

About: Purchasing power is a research topic. Over the lifetime, 2714 publications have been published within this topic receiving 36866 citations. The topic is also known as: adjusted for inflation.


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TL;DR: In this article, the effect of participation in marketing and supply cooperatives on the success of small farms was analyzed using modified net farm income per dollar of assets and operator's labor and management income as measures of success.
Abstract: This study identifies and analyzes factors that contribute to the success of small farms. Particular attention is given to the effect of participation in marketing and supply cooperatives on the success of small farms. Using modified net farm income per dollar of assets and operator’s labor and management income as measures of success, results show participation in marketing and supply cooperatives is positively correlated with success. Further, analysis findings indicate farm size, controlling for variable and fixed costs, type of ownership, management strategies used, working off the farm, and age of the operator are important factors that influence profitability (modified net farm income per dollar of assets and operator’s labor and management income) and success. Farmers routinely face considerable risk of income variability, and that income variability affects the financial performance of many farms. Particularly vulnerable are marginal operations with low production efficiency and small farms (farms with farm sales of $250,000 or less). During the past several decades, small family farms have frequently experienced difficulties in maintaining profitability. Local patterns of production, distribution, and consumption of food have been increasingly replaced by global operations and interests. Small family farms are regularly squeezed out of business by high input costs, low prices for their products, and limited access to markets. Small farm operators face a number of problems (such as limited purchasing power, availability of markets, access to resources, etc.) as they attempt to develop and operate profitable farm businesses. Some of the limitations facing small farm operators may be overcome by participation in cooperatives (supply or marketing) through a sharing of goals, activities, and objectives of the members of the group. There are many important benefits to membership in a cooperative. For example: (a) members

15 citations

Journal ArticleDOI
TL;DR: In this paper, two main mechanisms at the societal level are identified that reduce deprivation but which do not directly impact disposable income: the provision of in-kind benefits which increase the purchasing power of households; the second is informal support from networks.
Abstract: This paper considers the societal factors which determine a household’s command over resources aside from cash income. The aim of this paper is to explain why in some European countries the deprivation risk for households is relatively low despite high absolute poverty levels. Two main mechanisms at the societal level are identified that reduce deprivation but which do not directly impact disposable income. The first is the provision of in-kind benefits which increase the purchasing power of households; the second is informal support from networks. An analysis using 2012 EU-SILC data shows that both factors are significant in explaining the cross-country variation in Europe while controlling for national affluence. Households which have higher in-kind benefits from social services as well as non-cash company benefits and their own production show lower levels of deprivation. On the national level, universally provided social services (e.g. housing, healthcare or transport) can substantially improve the living conditions of the income poor and reduce social exclusion. However, the main factor explaining cross-country variation in deprivation is the provision of informal support from networks. When the social context is dominated by low generalised trust, social support for poor households is lower, leading to a marginalisation of the poor. In contrast, when trust is high, support from kin and non-kin networks in terms of lump sum transfers or co-usage of consumer goods significantly improve living conditions.

15 citations

Journal ArticleDOI
TL;DR: The authors derived the first high-frequency measure of the US labor share for the whole economy and found that the labor share has held remarkably steady indeed, but that the quasi-stability masks a sizable composition effect that is detrimental to labor.
Abstract: Economic theory frequently assumes constant factor shares and often treats the topic as secondary. We will show that this is a mistake by deriving the first high-frequency measure of the US labor share for the whole economy. We find that the labor share has held remarkably steady indeed, but that the quasi-stability masks a sizable composition effect that is detrimental to labor. The wage component is falling fast and the stability is achieved by an increasing share of benefits and top incomes. Using NIPA and Piketty-Saez top-income data, we estimate that the US bottom 99 percent labor share has fallen 15 points since 1980. This amounts to a transfer of $1.8 trillion from labor to capital in 2012 alone and brings the US labor share to its 1920s level. The trend is similar in Europe and Japan. The decrease is even larger when the CPI is used instead of the GDP deflator in the calculation of the labor share.

15 citations

ReportDOI
TL;DR: The International Comparison Program (ICP) is a worldwide effort to produce international comparisons of real GDP and its components and purchasing power parities of currencies (PPPs) as mentioned in this paper.
Abstract: This paper reviews the International Comparison Program (ICP), a worldwide effort to produce international comparisons of real GDP and its components and purchasing power parities of currencies (PPPs). The robustness of results and future work are considered. A generous estimate of margins of uncertainty in the benchmark estimates might be 20-25 per cent for low-income countries and 7 per cent for high-income countries. The errors in extrapolations to countries not covered by the surveys could go as high as 30-35 per cent. That is still a small range of error compared to that stemming from the use of exchange rates to convert own-currency to common currency measures of output. Furthermore, exchange rate conversions are even more sensitive to methodology than PPP conversions. The notion that exchange comparisons rest on a simple and transparent procedure using standard market data is illusory. The future of ICP measures seems assured in Europe, particularly in the European Community. The prospects for systematic worldwide comparisons do not look as bright. A renewed effort by the United Nations Statistical Office and the World Bank would be needed to maintain an ICP with comprehensive coverage and comparable methods in all major regions.

15 citations

Posted Content
TL;DR: Cryptocurrency has no physical existence, but is best thought of as electronic accounting systems that keep track of people's transactions and hence remaining purchasing power as discussed by the authors, and are typically decentralised, with no central authority responsible for maintaining the ledger and no centralized authority responsible to maintain the code used to implement the ledger system, unlike the ledgers maintained by commercial banks.
Abstract: This paper introduces the distributed ledger technology of crypto-currencies. We aim to increase public understanding of these technologies, highlight some of the risks involved in using cryptocurrencies, and discuss some of the potential implications of these technologies for consumers, financial systems, monetary policy and financial regulation. Crypto-currencies have no physical existence, but are best thought of as electronic accounting systems that keep track of people’s transactions and hence remaining purchasing power. Cryptocurrencies are typically decentralised, with no central authority responsible for maintaining the ledger and no central authority responsible for maintaining the code used to implement the ledger system, unlike the ledgers maintained by commercial banks for example. As crypto-currencies are denominated in their own unit of account, they are like foreign currencies relative to traditional fiat currencies, such as dollars and pounds.

15 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
2023158
2022393
202190
2020113
2019103
2018110