Yearbook over the years 2 The Level of Consumption of Urban and Rural Residents Increased Continuously 2.1 The Level of Consumption of Urban and Rural Residents Grew Constantly; Its Growth in Rural Areas was Faster than That in Urban Areas The level of consumption of urban and rural residents was 17
little reason to doubt they mean the same product that we know now, makes the study of black pepper consumption in the Roman Empire less problematic than might be the case with some other spices. When it comes to examining the contexts in which black pepper was used and the various perceptions
consumption, concerned with the mediation and performance of cosmopolitan identities and ideals in relation to market processes and consumption practices ( Emontspool & Woodward, 2018 ). Work in this vein reflects an ‘empirical turn’ in cosmopolitan studies, with an emphasis on how cosmopolitanism emerges and
The equity premium puzzle is found during the test of the Consumption-based Capital Asset Pricing Model (CCAPM) with aggregate consumption data. Because of income disparity, many consumers lack financial assets to intertemporally allocate their consumptions under income constraints. Thus, it is likely to lead to a specification error by employing aggregate consumption data to test the CCAPM. This paper examines the impacts of the economically constrained (low-income) consumers and unconstrained (high-income) consumers on the CCAPM using urban consumption expenditures in China delineated by consumer income, and tests the income constraint hypothesis. The empirical results show that the CCAPM is not more consistent with the consumption pattern of the higher-income consumers. Including the income constraint into the analyses of the consumption and asset returns does not unravel the equity premium puzzle.
`ka ) with empty glass bottles for kefir. 5 While glass bottles remained important to Soviet consumption, the 1950s witnessed the rapid expansion of the cardboard and paper packaging industries as part of the era in which mass consumption boomed. Internationally, the post- wwii period saw the
Using China’s provincial data from 1991 to 2005, this paper analyzes the impact of urban income disparity on their consumption based on static and dynamic panel data models and state space model. The GMM and Kalman Filter methods are used in the estimation and the variables such as income and price are controlled. The empirical results show that the elasticity of permanent income to consumption is much higher than that of temporary income; and the impact of income disparity on consumption is negative and substantial. A rise of 0.01 in the absolute value of Gini coefficient will cause a reduction of 0.35% in consumption on average. The effects fluctuate with the change of economic structure, consumption expectation and economic cycle. In the beginning years of 1990s, it is positive to enlarge income disparity moderately for consumption. It is the year of 1996 that the negative effect first appears in China. During 1998–2004, an increase of 0.01 to the absolute value of Gini coefficient will result in the reduction of consumption to fluctuate between 0.37% and 0.54%. In order to enlarge domestic demand and promote consumption, the focus should be the improvement of permanent income instead of temporary income, and the vigorous policies to reduce income disparity.
the work of art, Adorno shows that the standard modern relation between subject and object is inverted. […] In the aesthetic experience, the consumption relation is […] inverted. […] [T]he subject does not make the aesthetic object identical to itself (as an instrumental relation), but the other way
The research on the consumption-based asset pricing theory is limited to the developed capital markets. This paper seeks to extend the research to the Chinese developing capital market. It analyzes the dynamic relationship between the Chinese residents’ consumption, stock market returns and interest rates with the CCAPM. According to the analyses of this paper, the IV regression results are mixed. However, the data can fit the model relatively well, and the empirical results fail to reject the model. Thus, the results show that a relationship between the Chinese residents’ consumption growth rates and the asset returns does indeed exist, and that the consumption volatility risk could influence the asset returns.
Halal Consumption in South Africa In 1985 the first halal-certified nonmeat product appeared in South African stores. The certifying authority was the Muslim Judicial Council of Cape Town, and the product was Flora margarine. The certification of a nonmeat product signaled a major shift in