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We assess the empirical importance of changes in income and relative prices for structural transformation in the postwar United States. We explain two natural approaches to the data: sectors may be categories of final expenditure or value added; e.g., the service sector may be the final expenditure on services or the value added from service industries. We estimate preferences for each approach and find that with final expenditure income effects are the dominant force behind structural transformation, whereas with value-added categories price effects are more important. We show how the inputoutput structure of the United States can reconcile these findings.

I examine how the increasing ability of firms to target their ads influences market outcomes when consumers have access to advertising-avoidance tools. Although firms generally benefit from improved targeting, consumers need not. I also show that there may be too little blocking of ads in equilibrium and consider the role of targeted advertising when niche firms compete against mass-market firms.

The Information Age has a surfeit of information received relative to what is processed. We model multiple sectors competing for consumer attention, with competition in price within each sector. Sector advertising levels follow a constant elasticity of substitution (CES) form, and within-sector prices are dispersed with a truncated Pareto distribution. The \"information hump\" shows highest ad levels for intermediate attention levels. Overall, advertising is excessive, although the allocation across sectors is optimal. The blame for information overload falls most on product categories with low information transmission costs and low profits.

A choice experiment was used to determine consumer value for verification of livestock production process attributes. Willingness to pay for verification of production process attributes varied for both milk and pork chops across attributes and verifying entity. Statistically significant evidence of social desirability bias was found by comparing estimates of consumer preferences solicited using direct and indirect questioning. Indirect questioning may yield more accurate representations of consumer value than direct questioning, and therefore more accurate estimates for agribusiness decision making.

Theory on democracy and its consequences turns on how democracy influences behavior among politicians and the citizenry. Ultimately, the literature seeks to determine who benefits under democratic rules. This is our concern, posed in a context that allows us to address a classic question: does democracy favor large but diffuse segments of society over small but concentrated interests? We employ sectoral electricity consumption data for a panel of 733 country-years to examine democracy's impact on the distribution of electricity across three sectors that represent distinct political interests: industry, agriculture, and residential consumers. We find that in poorer countries democratization produces significant increases in the residential share of electricity relative to industry, suggesting sectors with less per capita financial clout, but a stronger voice in elections benefit under democracy. Unlike the large literatures on democracy's impact on the amounts of publicly provided goods, our results are among the first on the distribution of those goods.

The paper outlines the methodology employed for desk-based research, which involved gathering and analyzing empirical data on energy and heating consumption in the Polish small consumer sector. Secondary sources, including reports, documents, scientific publications, and public statistics, were utilized to ensure a comprehensive understanding of the subject matter. The research methodology ensured the acquisition and examination of reliable and extensive data regarding energy and heat consumption among small consumers in Poland. The study investigated consumption trends of hard coal, electricity, and natural gas in Polish households from 2006 to 2021. The findings revealed an increasing pattern in electricity and natural gas consumption, alongside a simultaneous decline in the usage of hard coal. Future consumption was estimated using trend models, and factors contributing to changes in energy consumption patterns were examined, with forecasts to 2027. To achieve decarbonization and address climate objectives, the study underscores the need to increase the proportion of renewable energy sources and boost energy efficiency. The significance of reducing household energy consumption through enhanced insulation, smart energy management systems, and low-carbon alternatives is emphasized. Additionally, the study addresses Poland’s future energy plans as a proactive step toward decarbonizing the national economy. In summary, the study furnishes valuable insights into energy consumption trends and their determinants in the Polish small consumer sector.

Among the various electricity consumer sectors, the consumption level of the industrial sector is often considered as the largest portion of electricity consumption, highlighting the urgent need to implement demand response (DR) energy management. However, implementation of DR for the industrial sector requires a more sophisticated and different scheme compared to the residential and commercial sector. This study explores all the elastic segments of plant multi-energy production, conversion, and consumption. We then construct a real-time industrial facilities management problem as an optimal dispatch model to enclose these elastic segments and production constraints in cyber-physical environments. Moreover, a model predictive-based centralised dispatch scheme is proposed to address the uncertainties of real-time price and renewable energy forecasting while considering the sequence of the production process. Numerical results demonstrate that the proposed scheme can enhance energy efficiency and economics of lithium battery manufacturing plant through responding to the real-time price whilst ensuring the completion of production tasks.

Poor countries have lower PPP-adjusted investment rates and face higher relative prices of investment goods. It has been suggested that this happens either because these countries have a relatively lower TFP in industries producing capital goods or because they are subject to greater investment distortions. This paper provides a micro-foundation for the cross-country dispersion in investment distortions. We first document that firms producing capital goods face a higher level of idiosyncratic risk than their counterparts producing consumption goods. In a model of capital accumulation where the protection of investors' rights is incomplete, this difference in risk induces a wedge between the returns on investment in the two sectors. The wedge is bigger, the poorer the investor protection. In turn, this implies that countries endowed with weaker institutions face higher relative prices of investment goods, invest a lower fraction of their income, and end up being poorer. We find that our mechanism may be quantitatively important.

Investors rebalance their portfolios as their views about expected returns and risk change. We use empirical measures of portfolio rebalancing to back out investors' views, specifically, their views about the state of the economy. We show that aggregate portfolio rebalancing across equity sectors is consistent with sector rotation, an investment strategy that exploits perceived differences in the relative performance of sectors at different stages of the business cycle. The empirical footprint of sector rotation has predictive power for the evolution of the economy and future bond market returns, even after controlling for relative sector returns. Contrary to many theories of price formation, trading activity, therefore, contains information that is not entirely revealed by resulting relative price changes.

Purpose: The purpose of this study is to analyze whether the growth of social media usage of firm's official Facebook a nd I nstagram a ffect firm's f inancial p erformance m easured by Return o n Assets ( RO A). This s tudy is focused on consumer cyclical sector subject to firm's listed in Indonesia Stock Exchange (IDX) for the period 2016-2023. This study is important for firm's to understand which social media usage from different social media platforms affect significantly on firm's financial performance. Design/methodology/approach: To analyze the effect of the growth of social media usage, this study uses Two-step System GMM as a regression model. The growth of total comments and likes on each platform are used to measure firm's social media usage by extracting social media usage data using custom-written code of social media platforms API and Apify web-scrapping tools. Financial metrics data was sourced from Refinitiv and firm's annual report. Findings: This study finds that the growth of Facebook social media usage positively affects firm financial performance at a significant level, whereas the growth of Instagram social media usage presents a low significance on firm's financial performance. Research limitations/implications: This study does not specifically examine all social media usage metrics and only uses comments and likes in ensuring the effect of social media usage on firm performance. Originality/value: This study contributes by providing new empirical evidence about social media usage of firm's official Facebook and Instagram in consumer cyclical sector in Indonesia. By investigating which social media usage and social media platforms significantly affect firm performance. To the best of knowledge, this is the first study that explores the issue of social media usage for consumer cyclical sector in Indonesia.