Lai, Ching-Chong; Hu, Shih-Wen; Fan, Chih-Ping - In: Journal of Agricultural and Resource Economics 30 (2005) 01
By allowing for various degrees of asset substitutability between bonds and agricultural products, this paper reexamines the robustness of the overshooting hypothesis of agricultural product prices. It is found, in both a closed economy and an open economy, that the crucial factor determining...