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Structure, conduct and the stochastic volatility of food markets: theory and empirics

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Holloway, G. ORCID: https://orcid.org/0000-0002-2058-4504 and Bayaner, A. (2013) Structure, conduct and the stochastic volatility of food markets: theory and empirics. Environmental Economics, 4 (2). pp. 6-11. ISSN 1998-605X

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Abstract/Summary

The relationship between price volatility and competition is examined. Atheoretic, vector auto regressions on farm prices of wheat and retail prices of derivatives (flour, bread, pasta, bulgur and cookies) are compared to results from a dynamic, simultaneous-equations model with theory-based farm-to-retail linkages. Analytical results yield insights about numbers of firms and their impacts on demand- and supply-side multipliers, but the applications to Turkish time series (1988:1-1996:12) yield mixed results.

Item Type:Article
Refereed:Yes
Divisions:Life Sciences > School of Agriculture, Policy and Development > Department of Agri-Food Economics & Marketing
ID Code:31926
Publisher:Business Perspectives
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