This paper investigates the e¤ects of replacing the consumer price index (CPI) with the wholesale price index (WPI) in the cointegrating international parity relationships found by Juselius and MacDonald (2000). Our empirical analysis outstandingly produced results similar to the ones obtained by Juselius and MacDonald, suggesting that the cointegration relationships in the international parity...

OBJECTIVE To describe the evolution of cigarettes' real price and affordability during the last decade in Argentina. METHODS To analyze the real price of cigarettes, the weighted average monthly price of a pack of 20 cigarettes was divided by the consumer price index (CPI) from 2004 to 2014. The relative income price (RIP) was evaluated for the same period, defining RIP as the percentage of t...

This paper addresses the problem of capturing nondominated points on convex Pareto frontiers, which are encountered in invex multi-objective programming problems. An algorithm to find a piecewise linear approximation of the nondominated set of convex Pareto frontier are applied. Index Term-Approximation, Nondominated points, Invex multi-objective problems, Block norms.

This paper studies a real-world problem arising in the area of motorail transportation. The considered problem deals with the loading of cars and motorcycles onto motorail wagons under realistic technical and legal constraints. The load planning problem, introduced as motorail transportation problem (MTP), occurs during the booking process and afterwards during the loading process at motorail t...

Resource leveling is a variant of resource-constrained project scheduling in which a non-regular objective function, the resource availability cost, is to be minimized. We present a branch-and-price approach together with a new heuristic to solve the more general turnaround scheduling problem. Besides precedence and resource constraints, also availability periods and multiple modes per job have...

BACKGROUND AND OBJECTIVES Adjusted for inflation, household income has been relatively flat since the mid-1990s, but the inflation rate of employer-sponsored health insurance has been greater than both household income growth and general inflation for 50 years. We estimated the effect on average family income if health insurance inflation matched the general inflation rate since 1996, and those...

Inclusion of nontraded goods prices has been shown to be partly responsible for slow convergence in price indices across major cities in the United States (Cecchetti et al 2002). Drawing upon insights provided by well known theories, this paper uses panel econometric methods to seek evidence in U.S. city level Consumer Price Index (CPI) data of a systematic long-run relationship between prices ...

Since 1993, the conduct of monetary policy in Australia has been based on an inflation target. Under this framework, the aim of policy is for underlying inflation to average 2 to 3 per cent per annum in the medium term. Underlying inflation can be measured in a number of ways but each of these measures shows that the target has been achieved so far in the 1990s (see Table 1). The concept of und...