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Record W1486604604

Modest Increase of Consumption. Hope for Christmas Sales

2002· article· en· W1486604604 on OpenAlexaboutno aff
Michael Wüger

Bibliographic record

VenueWIFO Monatsberichte (monthly reports) · 2002
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicGerman Economic Analysis & Policies
Canadian institutionsnot available
Fundersnot available
KeywordsConsumption (sociology)Consumer spendingDurable goodEconomicsRentingCashAgricultural economicsLabour economicsRecessionQuarter (Canadian coin)CommerceGoods and servicesBusinessMarket economyFinanceEngineeringMicroeconomicsMacroeconomics
DOInot available

Abstract

fetched live from OpenAlex

Over the past few years, expenditure on private consumption rose more rapidly than incomes because private households continued to spend in spite of the reticent development of incomes. As a consequence, the propensity to save declined and remained at a steady low level in the first half of 2002. Nevertheless, spending on consumption exceeded the actual level of the previous year by just 0.2 percent. One major reason for this was the slack growth of incomes, faltering under the effects of a cyclical downturn, which could not be compensated by the introduction of the child-care benefit. The growth of consumption being mediocre at best is due mainly to the demand for durable goods (cars, furniture, jewellery, electric and electronic equipment), which is highly responsive to the business cycle, falling below the level of the first half of 2001 by 2.2 percent. Demand for such goods sagged as a consequence of general income developments and the resistance to purchases in private households in connection with labour market developments. Demand also appears to have been stymied by the introduction of euro cash (which resulted in purchases advanced to the fourth quarter of 2001 and weak demand after the end of the double price marking period). Demand for non-durable goods and services (food, heating, rental, etc.), which constitutes a stabilising element in consumer demand in general and which changes little in the course of a business cycle, slightly rose in the second half of 2002 (by 0.6 percent). Weak demand on the part of consumers also affected retailing. According to Statistics Austria, retailing sales (at constant prices and excluding motor vehicles) stagnated in the first six months of 2002 at the previous year's level. Growth during the double price marking phase was cancelled out by a subsequent decline. Even when seasonally adjusted, demand dropped once the double price marking phase had expired. On average in July and August, real retail sales once again topped those of the previous year (by 1.5 percent), raising hope in retailers for this year's Christmas business. Christmas is gradually losing its former importance as a sales prop, mostly because of rising affluence, greater variation in the dates for paying the Christmas bonus, changes in consumer behaviour (holiday trips taken around Christmas, consciously refraining from giving presents), lower birth rates (Christmas as a the celebration of and by children), and less piety (problem of identifying with the religious occasion). Yet it is still of eminent importance to some sectors of the economy, as evidenced by peak sales in December. According to the WIFO models, Christmas-driven retail sales (defined as that part of the December sales in excess of normal sales), should arrive at and may perhaps even surpass, the previous year's level in real terms.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.001
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesMeta-epidemiology (narrow), Insufficient payload (model declined to judge)
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Observational · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.602
Threshold uncertainty score1.000

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0010.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0010.000
Bibliometrics0.0000.000
Science and technology studies0.0000.000
Scholarly communication0.0000.000
Open science0.0000.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0010.001

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.046
GPT teacher head0.223
Teacher spread0.176 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one teacher head, not a consensus.

Study designObservational
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations0
Published2002
Admission routes1
Has abstractyes

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