Market Structure And Spatial Price Dynamics
A method was developed with time series models to test hypotheses about the relationship between market structure and spatial price dynamics. Long-run dynamic multipliers measuring the magnitude of lagged adjustments for spatial milled rice prices were calculated from the time series model and used as the dependent variable in a regression model that included a number of factors expected to influence price determination. Results show that price adjustments were slower as regional submarket concentration increased and were faster in the regions with a higher market share. Arkansas, the state with the largest market share, was consistently a price leader
Volume (Year): 23 (1991)
Issue (Month): 02 (December)
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- Ginsburgh, Victor & Michel, Philippe, 1988.
"Adjustment Costs, Concentration and Price Behaviour,"
Journal of Industrial Economics,
Wiley Blackwell, vol. 36(4), pages 477-481, June.
- GINSBURGH, Victor & MICHEL, Philippe, "undated". "Adjustment costs, concentration and price behaviour," CORE Discussion Papers RP 849, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Victor Ginsburgh & Philippe Michel, 1988. "Adjustment costs, concentration and price behaviour," ULB Institutional Repository 2013/1739, ULB -- Universite Libre de Bruxelles.
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- Saxonhouse, Gary R, 1977. "Regressions from Samples Having Different Characteristics," The Review of Economics and Statistics, MIT Press, vol. 59(2), pages 234-237, May.
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- Geweke, John, 1984. "Inference and causality in economic time series models," Handbook of Econometrics,in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 19, pages 1101-1144 Elsevier.
- Dixon, R J, 1983. "Industry Structure and the Speed of Price Adjustment," Journal of Industrial Economics, Wiley Blackwell, vol. 32(1), pages 25-37, September.
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- Danthine, Jean-Pierre, 1977. "Martingale, market efficiency and commodity prices," European Economic Review, Elsevier, vol. 10(1), pages 1-17. Full references (including those not matched with items on IDEAS)
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