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| Cook, Steven. |
| The recently examined durability-asymmetry hypothesis of Cook (1999) is re-evaluated using the diagnostic tests of time deformation proposed by Stock (1987, 1988). An application of these tests to disaggregated data on U.S. consumers’ expenditure provides further support for this hypothesis, with the findings given an economic interpretation in terms of variables evolving at differing speeds over different phases of the business cycle. Additionally, building upon the studies of Cover (1992), Karras (1996) and Rhee and Rich (1995), recent research by Arden et al. (2000) has shown the relaxation of the assumptions of linearity and symmetry typically employed in macroeconometric models to result in monetary policy having clear asymmetric effects on the... |
| Tipo: Journal Article |
Palavras-chave: Time deformation; Asymmetry; Non-linearity; Consumers’ expenditure; Consumer/Household Economics; C12; E32. |
| Ano: 2003 |
URL: http://purl.umn.edu/43990 |
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| Falsafian, Azadeh; Yazdani, Saeed; Moghaddasi, Reza. |
| This paper analyses the asymmetric price transmission and non-linear adjustment at the farm and retail levels in the Iran’s mutton market. We applied a multivariate threshold error correction mechanism for monthly price data. We tested the non-linear adjustment using sup-LR, sup-LM and sup-Wald tests. The results confirm the presence of non-linear cointegration relationship between the retail and farm prices. In short-run, the price transmission behavior reveals that reactions of both the retail and farm prices to positive and negative deviations from the long-run price spread are asymmetric. More specially, the retailers show more strong responses to the both positive and negative shocks imposed to the farmers. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Threshold Cointegration; Non-linearity; Mutton; Price; Iran; Livestock Production/Industries. |
| Ano: 2011 |
URL: http://purl.umn.edu/114363 |
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