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Pricing-to-Market versus Residual Demand Elasticity Analysis of Imperfect Competition in Food Exports: Evidence from Germany

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Listed:
  • Glauben Thomas

    (Department of Food Economics, University of Kiel, Germany)

  • Loy Jens-Peter

    (Department of Agricultural Economics, University of Goettingen, Germany)

Abstract

This paper examines the exercise of market power by German food and beverage export industries over international markets. Two approaches are used: pricing-to-market (PTM) and residual demand elasticity (RDE). We find that, while in some cases the PTM approach indicates market power, the RDE approach does not. Competitive conduct seems to prevail in these industries. The occurrence of PTM in some cases might be explained by fixed contracts, which are often used in the food and beverage export market.

Suggested Citation

  • Glauben Thomas & Loy Jens-Peter, 2002. "Pricing-to-Market versus Residual Demand Elasticity Analysis of Imperfect Competition in Food Exports: Evidence from Germany," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 1(1), pages 1-21, October.
  • Handle: RePEc:bpj:bjafio:v:1:y:2002:i:1:n:3
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    References listed on IDEAS

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    1. Gagnon, Joseph E. & Knetter, Michael M., 1995. "Markup adjustment and exchange rate fluctuations: evidence from panel data on automobile exports," Journal of International Money and Finance, Elsevier, vol. 14(2), pages 289-310, April.
    2. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-1072, June.
    3. Millan, Joaquin A, 1999. "Short-Run Equilibrium and Market Power in the Spanish Food, Drink and Tobacco Industries," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 26(2), pages 229-243, June.
    4. Sven W. Arndt & J. David Richardson, 1987. "Real-Financial Linkages Among Open Economies," NBER Working Papers 2230, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Reed, Michael R. & Saghaian, Sayed H., 2004. "Measuring the Intensity of Competition in the Japanese Beef Market," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 36(01), pages 113-121, April.

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