This paper investigates the long-run demand for money and short-run dynamics of the long-run money demand function for Sri Lanka during the post-1977 period. While M1 is cointegrated with real income, nominal interest rate, short-term foreign interest rate, and real effective exchange rate, M2...

A persuasive theoretical justification for extending foreign assistance to developing countries was provided by the now famous ¡®two gap¡¯ theory. It proclaimed that these countries might not in general be able to achieve a target rate of growth because of persistent balance of payments...

This paper reexamines supply response in the Northeastern fresh tomato market during the 1949-94 period by employing cointegration and error correction technique. It tests whether there has been a long-run equilibrium relationship between Northeastern production and a set of price and nonprice...

This paper examines the responsiveness of Sri Lanka¡¯s trade deficit to devaluation during the post 1977 period. The results show that notwithstanding persistent devaluation the trade deficit continued to move in the wrong direction suggesting that exchange rate policy was unable to create a...

We examine the determinants of land prices in the north-eastern United States by applying Johansen and Juselius maximum-likelihood cointegration procedure to two recent land price models. The results suggest that there is an equilibrium relationship between real land price and real gross farm...

We develop a flexible model to examine competitive conditions in the food retailing industry based on the Box-Cox transformation of the demand and industry equilibrium conditions. The impact of key technological and market developments on shifts in the competitive index is examined. Adoption of...

The "trigger price" oligopoly model is used to develop a test for oligopolistic as well as oligopsonistic conduct by observing how an industry responds to unexpected declines in output demand. The hypothesis that U.S. beef packers maintain cooperative pricing strategies is rejected.

Past test of differences in economic efficiency between small and large farms in developing countries used arbitrary criteria to divide samples of farms into the two size groups. Given the inferential danger from such arbitrary groupings, this paper presents a method for conducting the...

We develop a flexible model to examine competitive conditions in the food retailing industry based on the Box-Cox transformation of the demand and industry equilibrium conditions. The impact of key technological and market developments on shifts in the competitive index is examined. Adoption of...