Modeling The Farm-Retail Price Spread For Beef
A new model for the farm-retail price spread, which accounts for both farm supply and retail demand changes, is introduced. This model is applied to beef, and its empirical performance relative to the markup pricing formulation is evaluated using nonnested testing procedures. The results are consistent with theory and indicate the markup pricing model is misspecified.
Volume (Year): 12 (1987)
Issue (Month): 02 (December)
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- Godfrey, L. G. & Pesaran, M. H., 1983. "Tests of non-nested regression models: Small sample adjustments and Monte Carlo evidence," Journal of Econometrics, Elsevier, vol. 21(1), pages 133-154, January.
- Dufour, Jean-Marie, 1982. "Recursive stability analysis of linear regression relationships: An exploratory methodology," Journal of Econometrics, Elsevier, vol. 19(1), pages 31-76, May.
- Ashley, R & Granger, C W J & Schmalensee, R, 1980. "Advertising and Aggregate Consumption: An Analysis of Causality," Econometrica, Econometric Society, vol. 48(5), pages 1149-67, July.
- Moschini, GianCarlo & Meilke, Karl D., 1984.
"Parameter Stability And The U.S. Demand For Beef,"
Western Journal of Agricultural Economics,
Western Agricultural Economics Association, vol. 9(02), December.
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