|
|
|
|
|
| Phillips, Shauna; Bewley, Ronald A.. |
| The implication of price stabilisation under a volatile exchange rate is an increasingly volatile price denominated in a foreign currency. Time series analysis is used to model the relationship between exports, prices and AWC stocks. This model is used to assess the distribution of the impact of exchange rate shocks on prices denominated in local and foreign currencies. It is found that the AWC has significantly reduced the impact of exchange rate shocks on domestic prices. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1991 |
URL: http://purl.umn.edu/22931 |
| |
|
|
| Williams, Christine H.; Bewley, Ronald A.. |
| In a competitive market with free information flows, spatial arbitrage will ensure that average prices at geographically separate markets will move in unison. The speed of adjustment is related to information flows between markets; if adjustment lags exist, there may be opportunities for arbitragers to gain. The transmission of price information is modelled using Johansen's procedure and the existence of long-run arbitrage opportunities is investigated. An innovation analysis is used to examine the varying responses to changes in prices at spatially separate markets. |
| Tipo: Journal Article |
Palavras-chave: Marketing. |
| Ano: 1993 |
URL: http://purl.umn.edu/22381 |
| |
|
|
| Bewley, Ronald A.. |
| Cross-sectional data are used to estimate a three-equation generalised addilog demand system (GADS); two equations are used to express the demand for milk by method of sale and a residual equation is used to close the system. It is shown that, as the average budget share of the residual equation approaches unity, the GADS equations for the incomplete system are approximately equivalent to double logarithmic equations. It is found that aggregate milk demand is relatively insensitive to both price and income, but the degree of substitution between delivered and non-delivered milk is both large and highly significant. A new test for influential data in the system context is developed and it suggests that the reported results are robust to variations in the... |
| Tipo: Journal Article |
Palavras-chave: Consumer/Household Economics; Demand and Price Analysis. |
| Ano: 1987 |
URL: http://purl.umn.edu/22270 |
| |
|
|
|
