This paper is concerned with the impact of food scares, principally the BSE crisis, in the UK and focuses on price adjustment at different stages in a vertically-related market. Our interest is motivated primarily by the presence of market power that is alleged to occur in UK food retailing....

This paper focuses on price transmission in a vertically-related set-up where the retail stage may exercise oligopoly and/or oligopsony power, an issue addressed by the UK anti-trust authority investigation of the food retailing sector. From a theoretical perspective, we set out simple tests...

Much of the recent literature on price transmission focuses on whether price changesoccurring at one stage of the food sector are fully transmitted in changes to retail prices. Therole of market structure in determining the degree of price transmission is often emphasised,the presumption being...

Cointegration analysis is used to investigate the short and long run dynamics of therelationship between the export prices of the EU wheat and of other major exporters inthe world wheat market. The aim of this study is to determine whether long runrelationships existed between EU prices and its...

In 1996 the Potato Marketing Scheme was abolished ending forty years ofinstitutional control over the British potato market. This paper offers aretrospective analysis of the control mechanisms adopted and develops atheoretical model of supply response that reflects this policy environment....

In this paper, we aim to model the vertical relation between retailers and suppliersin the food industry whereby retailers exercise seller power in their relation with consumersand buyer power in their relation with producers. We then evaluate the degree of pricetransmission, relative to the...

The hypothesis that futures price is an unbiased predictor of the future spot price has been oneof the most controversial topics in the empirical literature on market efficiency. The conflictingresults provided so far are not robust to the time period considered or to the econometricmethod...

Futures market efficiency has been one of the most researched topics for a number of years.The huge amount of results produced, highly dependent on the econometric techniquesadopted and on the time period analysed, are often conflicting: for a given market, someauthors find evidence of...

We derive an explicit formula of the Watts’ poverty index, in terms of parametersof bivariate lognormal distributions of price indices and nominal livingstandards. This result enables us to: analyse the contributions of the distributionsof prices and nominal living standards in poverty;...

A one-to-one link is developed between overlapping sub-regional entities using geographi-cal tools newly available to the Economic Research Community. The aim of this project is tocreate a database exploiting the geographical variation in publicly available data, in order tobetter control for...