Showing 1 - 5 of 5
Demand and supply are often asymmetric, that is, cross-price effects are not equal over all commodities Because of asymmetry, conventional surplus maximization formulations cannot be employed to compute a competitive market equilibrium Thid article compares alternative formulations under a...
Persistent link: https://www.econbiz.de/10010910496
Persistent link: https://www.econbiz.de/10005320128
This study uses an error correction model (ECM) to investigate dynamics in farm-retail price relationships. The ECM is a more general method of incorporating dynamics and the long-run, steady-state relationships between farm and retail prices than has been used to data. Monthly data for beef and...
Persistent link: https://www.econbiz.de/10005805465
This paper investigates whether a small country facing foreign price instability benefits from active stabilization of the domestic price of the importable. If the random tariff revenue is rebated ex post, domestic price stabilization increases income instability, and nonintervention is optimal....
Persistent link: https://www.econbiz.de/10004979710
This study tests hypotheses derived from the theory of rationing using data for Polish households during the transition. There are six commodity groups and virtual prices are derived for rationed goods. The evidence is consistent with the theory: larger own-price elasticities for non-rationed...
Persistent link: https://www.econbiz.de/10005468473