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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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Journal Article
TL;DR: In the United States, the first 18 months of the Federal Energy Management Program (FEMP) implemented the low standby power (1 watt or less where possible) policy were summarized in this paper.
Abstract: Although the government sector represents only 10 to 15 percent of the economy in most countries, carefully targeted public procurement can play a significant role in market transformation through its influence on both buyers and suppliers. Government leadership in energy-efficient purchasing can set an example for other buyers, while creating opportunities for leading manufacturers and distributors to increase their sales and market share by offering energy-efficient products at competitive prices. Under proper circumstances, a highly visible government purchasing policy can have a disproportionately large influence on the market for efficient products. In the United States, President Bush signed an Executive Order in 2001 directing all federal agencies to buy products with low standby power (1 watt or less where possible). This represents a deliberate choice to use government purchasing - rather than regulations or incentives - as a market-based strategy to encourage energy savings. It also builds upon existing efforts to encourage Federal purchase of energy-efficient products (Energy Star products and others in the top 25th percentile of efficiency). This paper summarizes the Federal Energy Management Program s first 18 months of experience in implementing this Executive Order, including analysis of data on standby power, interactions with manufacturers and industry groups, and the relationship between these efforts and other federal programs concerning product labelling, testing, rating, and efficiency standards. After five years of implementing low-standby power purchasing, we estimate energy savings for federal agencies alone at about 230 GWh/year (worth US$14 million), with spillover effects on the broader market that will save all US consumers nearly 4000 GWh/year (US$300 million).

6 citations

Journal Article
TL;DR: For example, this article found that entrepreneurs with high start-up capital tend to be older, with both prior managerial/ownership and marketing experience, and are more likely to be high monitors of their marketing environments, to prepare a business plan prior to starting their business, and to seek marketing assistance in the startup phase.
Abstract: Data collected from 369 Midwestern small business owners suggests a marked difference between small business owners whose initial start-up capital was low ($10,000 or less) versus those with higher start-up capital. Those with high start-up capital tend to be older, with both prior managerial/ownership and marketing experience. They also tend to be high monitors of their marketing environments, to prepare a business plan prior to starting their business, to seek marketing assistance in the start-up phase of their business, and to commence with one or more partners. They also tend to initially pursue a broader geographic scope. High start-up capital entrepreneurs are more likely to develop a business plan than low start-up capital entrepreneurs. Those preparing business plans were also more likely to start with an initial product line that was innovative rather than traditional, to dedicate a higher proportion of their current workforce to marketing/sales duties, and to expand their geographic scope over time. Finally, as entrepreneurs take on more start-up capital, they are more likely to possess more managerial experience, to be monitors of their marketing environments, to prepare a business plan prior to beginning their business, and to pursue a broader geographic scope. LITERATURE REVIEW Schein (1994) is correct to argue that developing variables for more detailed empirical studies in entrepreneurship is long overdue. He differentiates between selfemployment and commencing a business in order to survive mid-life lay-offs as well as downsizings. Schein adamantly distances himself from researchers who link selfemployment and entrepreneurship. He stresses that autonomous professionals (teachers, consultants, people who run companies) are not entrepreneurs because they have not created anything. We classify the entrepreneur as an owner of a small business. Our definition is consistent with Webster's definition of an entrepreneur: the person who organizes, manages, and assumes the risks of a business- a successful business person. Our definition of success is simply that the entrepreneur creates a going concern. Schumpeter (1961), in his Theory of Economic Development, claims that the primary function of an entrepreneur is not in principle tied to the possession of wealth, even though he admits that the accidental fact of wealth possession creates a practical advantage. Although the entrepreneur usually uses borrowed purchasing power, the granting of credit more often than not precedes fully covered credit. He argues that there are only two reasons that will cause the prompt disappearance of newly credited purchasing power after the entrepreneur begins the productive process. The first is that most companies are not terminated in one period, but in most cases only after a period of years. The second is that there is no disappearance of credit either in the individual or in the social economy. Schumpeter states that the newer commodities constitute what he calls a counter balance and create a cover for new purchasing power. Ultimately, he claims that credit instruments eventually do not influence prices, but credit eventually loses its impact. In essence, the entrepreneur takes consumptive credit and turns it into purchasing power. Kirzner (1973), in Competition and Entrepreneurship, differentiates himself from Schumpeter when he states that the important aspect of entrepreneurship is not so much the ability to break away from the routine as it is to perceive when new opportunities have gone unnoticed. He believes that the true function of the entrepreneur is not the shifting of cost and revenue curves but the noticing that they have shifted. We believe entrepreneurs often anticipate that the curve will shift and that their actions begin to create the shift. Bom Kirzner and Schumpeter would believe, in the contexts of potential change (i.e., future revenue and cost shifts), the assumption of rationality becomes irrelevant. …

6 citations

BookDOI
TL;DR: In this article, Dutch disease effects may arise solely from a shift in demand following a natural resource discovery, where natural resource wealth increases the demand for non-tradable luxury services due to non-homothetic preferences.
Abstract: This paper shows how Dutch disease effects may arise solely from a shift in demand following a natural resource discovery. The natural resource wealth increases the demand for non-tradable luxury services due to non-homothetic preferences. Labor that could be used to develop other non-resource tradable sectors is pulled into these service sectors. As a result, manufactures and other tradable goods are more likely to be imported, and learning and productivity improvements accrue to the foreign exporters. However, once the natural resources diminish, there is less income to purchase the services and non-resource tradable goods. Thus, the temporary gain in purchasing power translates into long-term stagnation. As opposed to conventional models where income distribution has no effect on economic outcomes, an unequal distribution of the rents from resource wealth further intensifies the Dutch disease dynamics within this framework.

6 citations

Journal ArticleDOI
TL;DR: In this article, the authors present a new projection of the future demographic capacity for volunteer organizations and conclude that the decay of demographic capacity will affect most regions and sectors of civil society, most prominent in remote areas with low population density and in sectors where the need to compensate for declining public services and infrastructure will be highest.
Abstract: Germany is currently beginning to become aware of the consequences of a process of demographic change, initially triggered by extremely low levels of fertility. The population recently started to decline, the demographic dividend is coming to an end and the ageing of society accelerates. Particularly places in peripheral regions are already seriously affected by this process which will increase in pace and spread spatially. Shrinking and ageing populations are associated with a declining purchasing power as well as fewer local tax revenues for public and private services and infrastructure. The population necessary to maintain and economically justify the provision of public services and infrastructure at the current level will in many cases shrink below required thresholds. Commercial services will probably also continue to diminish at such places. Volunteer organizations may provide some of the services which the local administrations can no longer afford to provide and thus strengthen civil society and social cohesion. But can this be an option for communities with a shrinking and ageing population in which qualified younger people are lost through out-migration? The paper presents a new projection of the future demographic capacity for volunteer organizations and concludes that the decay of demographic capacity will affect most regions and sectors of civil society. The loss will be most prominent in remote areas with low population density and in sectors where the need to compensate for declining public services and infrastructure will be highest.

6 citations

Journal ArticleDOI
TL;DR: In this article, the authors examined the pattern of growth of transfer payments and property incomes in the context of national economic cycles, and explored the implication of those findings on metropolitan and nonmetropolitan Nevada economies.
Abstract: The growing relative number, the improved economic well-being, and the migration of elderly retirees is not only reshaping the social and economic structure of many areas, it is also modifying both long-term and short-run patterns of economic growth. Transfer payments and property incomes, two of the most important source of elderly income, have been among the leading sources of national income growth over the past several decades. Unlike most labor-related industry sources of earnings, the level of transfer payments and property incomes received by the residents of the region is not directly dependent upon local economic activity. Consequently, as transfer payments and property incomes of elderly retirees become increasingly important sources of income and purchasing power within a region, they also can alter regional short-run cyclical patterns of income growth. This article examines the pattern of growth of transfer payments and property incomes in the context of national economic cycles, and explores the implication of those findings on metropolitan and nonmetropolitan Nevada economies.

6 citations


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