He explained that as the exchange rate depreciates, causing imports to fall, it will have an import substitution effect
on the local industries which compete with imported goods.
The closure of PTCL's WLL connections and the mobile substitution effect
has resulted into gradual decline of the local loop subscriptions.
The study also found no substitution effect
or increase in sales for non-taxed beverages.
36) The effect emerging from a price change along a given demand curve would then have to be interpreted entirely as a substitution effect
(Salerno 2018, pp.
The decrease in international urea prices produces a substitution effect
for the local companies.
Due to rise in prices there has been a substitution effect
that is causing high-end materials to be replaced by low-end materials.
In the fourth section, we summarize known results and apply them to establish that the substitution effect
of an increase in downside risk on the choice of an optimal control reduces the degree of absolute downside risk aversion as measured by the Schwarzian.
As such, we expect many listed companies to benefit from the substitution effect
on the demand side, and to subsequently increase their production levels towards full capacity.
It is happening because of digitisation - and that has created two hugely disruptive trends for our print media: "creative destruction" and "substitution effect
By contrast, if the elasticity of substitution is below some critical threshold, the increase in the relative volume of the ICT capital stock is offset by a fall in its relative price so that this substitution effect
does not lead to any increase in the share of capital depreciation in value added at current prices.
During World War I, there was a large substitution effect
of female labor for male labor in the UK.