Exchange rate pass-through and inflation targets in Chile
In: CEPAL review, Band 2015, Heft 117, S. 137-146
ISSN: 1684-0348
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In: CEPAL review, Band 2015, Heft 117, S. 137-146
ISSN: 1684-0348
In: Revista CEPAL, Band 2015, Heft 117, S. 145-155
ISSN: 1682-0908
In: Academia Revista Latinoamericana de Administración, Band 28, Heft 4, S. 484-501
Purpose
The purpose of this paper is to analyze whether or not the reputation of a region/country in the international wine market depends on a region/country's efforts to specialize in a specific grape variety.
Design/methodology/approach
Data on 19,959 bottles of wine corresponding to six vintages across ten wine producing regions worldwide are used to estimate a hedonic price model that measures consumer valuations of the different wine attributes.
Findings
The results of this study show that although variety specialization has successfully underpinned the reputation of some New World regions, such as the Napa Valley (with its Cabernet Sauvignon) or Oregon (with its Pinot Noir); in others, such as Australia (with its Shiraz), this has not been successful.
Practical implications
Over the last ten years, the exponential growth of Australian bulk wine exports has seriously harmed the reputation of Australian wine. With respect to the Napa Valley wines, price discount received by Australian wines increases between the 1997 and 2007 vintage from 33 to 61 percent. Thus, in order to successfully build a collective reputation of an entrant (New World) country, an institutional framework that mediates differences of interest between the large and small vineyards and, above all, that regulates the free-rider problem in the wine market is required.
Originality/value
This paper empirically illustrates how cooperative (and non-cooperative) behavior between firms can help to build (and to destroy) collective reputation of wines that come from the same region or country.
In: CEPAL review, Heft 117, S. 137-146
World Affairs Online
In: Lecturas de economía, Heft 79
ISSN: 2323-0622
In: CEPAL review, Band 2012, Heft 106, S. 75-88
ISSN: 1684-0348
In: Revista CEPAL, Band 2012, Heft 106, S. 79-93
ISSN: 1682-0908
In: Cuadernos de economía, Band 42, Heft 126
ISSN: 0717-6821
In: Lecturas de economía, Heft 95, S. 199-230
ISSN: 2323-0622
In recent years, measurement of quality of life has received increased attention. We use the satisfaction with life and subjective happiness scales in older adults living in urban areas in the Maule Region, Chile; generalized linear models are used (n = 396). We find that (1) gender is linked to satisfaction with life, (2) satisfaction with one's own economic situation have significant effects on satisfaction with life and happiness, and (3) health, family and satisfaction with food are the most important predictors of both satisfaction with life and happiness.