| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
An Econometric Analysis of Price Dynamics in the Presence of a Price Floor: The Case of American Cheese
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| Autores: |
Chavas, Jean-Paul
Kim, Kwansoo
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| Data: |
2008-09-29
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| Ano: |
2005
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| Palavras-chave: |
Censored regression
Market liberalization
Model selection
Price dynamics
Price volatility
Demand and Price Analysis
Q0
D4
C5
|
| Resumo: |
In this paper, we present an econometric analysis for the effects of a price floor on price dynamics and price volatility. A price floor (implemented as a part of government pricing policy) provides a censoring mechanism for price determination. We specify and estimate a dynamic Tobit model under time-varying volatility. The model is applied to analyze the effects of a price support program on price dynamics and price volatility in the U.S. American cheese market. The econometric analysis provides useful insights on price dynamics in the presence of a government-determined price floor.
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| Tipo: |
Journal Article
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| Idioma: |
Inglês
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| Identificador: |
http://purl.umn.edu/43628
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| Relação: |
Journal of Agricultural and Applied Economics>Volume 37, Number 01, April 2005
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| Formato: |
15
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