Abstract: This paper examines the effect of the volatility of oil
prices on food price in South Africa using monthly data covering the
period 2002:01 to 2014:09. Food price is measured by the South
African consumer price index for food while oil price is proxied by
the Brent crude oil. The study employs the GARCH-in-mean VAR
model, which allows the investigation of the effect of a negative and
positive shock in oil price volatility on food price. The model also
allows the oil price uncertainty to be measured as the conditional
standard deviation of a one-step-ahead forecast error of the change in
oil price. The results show that oil price uncertainty has a positive
and significant effect on food price in South Africa. The responses of
food price to a positive and negative oil price shocks is asymmetric.
Abstract: Social-economic variables influence transportation
demand largely. Analyses of discrete choice model consider
social-economic variables to study traveler-s mode choice and
demand. However, to calibrate the discrete choice model needs to have
plenty of questionnaire survey. Also, an aggregative model is
proposed. The historical data of passenger volumes for high speed rail
and domestic civil aviation are employed to calibrate and validate the
model. In this study, models with different social-economic variables,
which are oil price, GDP per capita, CPI and economic growth rate,
are compared. From the results, the model with the oil price is better
than models with the other social-economic variables.