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| Throsby, C.D.; Rutledge, David J.S.. |
| Several farm sector econometric models are reviewed initially and the aggregation problem highlighted. A thirty-equation model of the Australian agricultural sector is specified in which farm output, stocks and exports and the domestic demand for farm products are endogenous, as well as farm, export and retail prices. Disaggregation is into food and non-food components of unprocessed output, and the processing of food is traced through to final demand. The model is estimated by a modified 2SLS procedure using quarterly data covering the period 1960-1970. |
| Tipo: Journal Article |
Palavras-chave: Agribusiness. |
| Ano: 1977 |
URL: http://purl.umn.edu/22264 |
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| Gray, Roger W.; Rutledge, David J.S.. |
| This article reviews some of the literature pertaining to futures markets. After briefly considering how the evolution of the institution of futures trading has required changing interpretations, we devote a longer section to the interplay between theory and evidence concerning intertemporal price relationships. While disputed and inconclusive interpretations persist, Working's theory of the price of storage and his revision of hedging doctrine are clear landmarks of progress in understanding these price relationships. We deal separately with hedging theory; then with the relation between futures and price variability; and finally with the stochastic attributes of futures prices. |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 1971 |
URL: http://purl.umn.edu/9639 |
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