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| Registros recuperados: 20 | |
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| Kesavan, T.; Aradhyula, Satheesh V.; Johnson, Stanley R.. |
| This study uses an error correction model (ECM) to investigate dynamics in farm-retail price relationships. The ECM is a more general method of incorporating dynamics and the long-run, steady-state relationships between farm and retail prices than has been used to data. Monthly data for beef and pork are used to test the time-series properties for the ECM specification. The model is extended to study price volatility through the generalized autoregressive conditional heteroskedasticity (GARCH) process. Accommodation of the GARCH process provides a useful way of analyzing both mean and variance effects of policy or market structure changes. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis; Livestock Production/Industries. |
| Ano: 1992 |
URL: http://purl.umn.edu/30952 |
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| Huffman, Sonya Kostova; Johnson, Stanley R.. |
| The costs of shortages and rationing are not captured by standard consumer price indices. Thus the change in real gross domestic product (GDP) per capita is an overestimate of welfare losses in transition economies. In this study virtual prices are used to calculate new cost-of-living indices, making it possible to construct more accurate pre- and postreform welfare comparisons. The results for Poland using virtual prices show a 62 to 84 percent decline in welfare over the transition period 1987 to 1992. This welfare loss is approximately one-third the value obtained using actual prices. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Transition economy; Poland; Cost-of-living indices; Political Economy. |
| Ano: 2000 |
URL: http://purl.umn.edu/18567 |
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| Huffman, Sonya Kostova; Johnson, Stanley R.. |
| The costs of shortages and rationing are not captured by standard consumer price indices. In this study, virtual prices for the rationed goods are used to calculate a new cost-of-living index (CLI). The results for Poland show that from 1987 to 1992 the CLI that ignores the rationing effects is biased upward from 3.6 to 6.99 percentage points per year. Compared to the welfare loss calculated by neglecting the rationing effects in the prereform period, the welfare loss that reflects the rationing is only 25 percent as large using external virtual prices, and only 15 percent as large using Hausman virtual prices. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Political Economy. |
| Ano: 2001 |
URL: http://purl.umn.edu/18397 |
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| Fayyad, Basem S.; Johnson, Stanley R.; El-Khishin, Mohamed. |
| This study provides information on the structure of the consumer demand for major foods in Egypt. The information is in the form of key parameters for consumer demand systems. The modern theory of consumer behavior is the basis for estimating systems of demand equations. These systems yield estimates of own and cross price elasticities. The Linear Almost Ideal Demand System (LAIDS) model is applied in estimating a system of demand equations for food commodities. A full demand matrix results with a coherent and consistent set of price and expenditure elasticity estimates. Using the estimated own and cross price and expenditure elasticities, food and agricultural policies during the transformation to the market economy can be analyzed. A framework for... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Demand and Price Analysis; Food Consumption/Nutrition/Food Safety. |
| Ano: 1995 |
URL: http://purl.umn.edu/18619 |
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| Wahl, Thomas I.; Hayes, Dermot J.; Johnson, Stanley R.. |
| The Japanese pork market is protected by a complex set of restrictions, including a variable levy and an import tariff. The combination of these policies distorts the quantity, price, and form of Japanese pork imports. An important issue relevant to the liberalization of the Japanese pork market is the accurate measurement of the price wedge between Japanese and world pork prices. The analysis indicates that the tariff equivalent of the price wedge over the 1986-88 period was 44%. If the tariff equivalent of the price wedge is reduced over a ten-year period, Japanese pork imports are projected to increase by over 39% initially and by over 215% compared to baseline projections by the year 2000. Producer welfare can be maintained by a deficiency payment... |
| Tipo: Journal Article |
Palavras-chave: International Relations/Trade. |
| Ano: 1992 |
URL: http://purl.umn.edu/30735 |
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| Choi, E. Kwan; Johnson, Stanley R.. |
| This paper investigates whether a small country facing foreign price instability benefits from active stabilization of the domestic price of the importable. If the random tariff revenue is rebated ex post, domestic price stabilization increases income instability, and nonintervention is optimal. If an ex ante rebating scheme is employed, a small country can benefit from domestic price stabilization, and there exists a partial stabilization policy that dominates free trade. Partial stabilization of the domestic price with the ex ante rebate requires a variable import levy inversely related to the foreign price. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Demand and Price Analysis; International Relations/Trade. |
| Ano: 1990 |
URL: http://purl.umn.edu/51265 |
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| Huffman, Sonya Kostova; Johnson, Stanley R.. |
| This study tests the theory of rationing, examining changes in household consumption behavior during the transition to a market economy in Poland, 198792. A model of consumption under rationing is developed and fitted to prereform quarterly data from the Polish Household Budget Survey. Virtual prices, prices at which consumers would have voluntarily chosen the rationed levels of goods, are derived for food and housing. The prereform Almost Ideal Demand System (AIDS) model with rationing is estimated. Estimates from the virtual AIDS yield plausible values for price and income elasticities. The AIDS model (without rationing) is also fitted to postreform quarterly household survey data for comparison and evaluation. When the two sets of results are compared,... |
| Tipo: Working or Discussion Paper |
Palavras-chave: AIDS model; Hicksian; Poland; Rationing; Transition; Political Economy. |
| Ano: 2000 |
URL: http://purl.umn.edu/18613 |
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| Johnson, Stanley R.. |
| Policy reforms increasing the roles of markets in agriculture and related institutional changes are occurring worldwide. These are accompanied by and related to rapid technical change, especially for information systems, biotechnology, and organizational mechanisms. Trends in farm size, integration, concentration, environmental sensitivity, organization and funding of research and development, and multinational business organization are among the observable consequences of these changes. With the evolving role of government, new institutions are emerging for shaping the strategic behavior of public and private sector agents. What are the characteristics of these institutions? Where will strategic behavior and interaction of agents have a critical impact on... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural Policy; Game Theory; Mechanism Design; Strategic Behavior; Institutional and Behavioral Economics. |
| Ano: 1998 |
URL: http://purl.umn.edu/18512 |
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| Registros recuperados: 20 | |
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