Goodwin, Barry K.; Holt, Matthew T.; Prestemon, Jeffrey P. - In: American Journal of Agricultural Economics 93 (2011) 4, pp. 993-1014
Price dynamics for North American oriented strand board markets are examined. The role of transactions costs are explored vis-à-vis the law of one price. Nonlinearities induced by unobservable transactions costs are modeled by estimating time-varying smooth transition autoregressions...