Price expectations play a critical role in commodity markets where producers must make input decisions well before output is realized. This paper brings together alternative expectations regimes, their estimation, and hypothesis tests for use in structural commodity models to determine their use...

This article provides an analysis of the two-stage game between manufacturers and retailers. Response functions showing how prices are set are derived for the case of a manufacturer producing one and multiple goods and for a retailer selling multiple goods. The functions are expressed in terms...

Using unique data from a pre-mandatory price-reporting period we empirically investigate the effects of beef packer concentration and size efficiencies, packer procurement and pricing methods, and other market variables and quality characteristics on the prices paid by packers for slaughter...

Price expectations play a critical role in commodity markets where producers must make input decisions well before output is realized. This paper brings together alternative expectations regimes, their estimation, and hypothesis tests for use in structural commodity models to determine their use...

We empirically investigate the effects of beef packer concentration and size efficiencies, packer procurement and pricing methods, and other market variables and quality characteristics on the prices paid by packers for slaughter cattle. We find that packers pay less for fed cattle in more...

Following the approach of Berndt, Fuss, and Waverman, a dynamic model for U.S. cigarette manufacturing is developed and factor demands estimated. Tobacco and capital stocks are treated as quasi-fixed inputs. The results indicate that there are significant adjustment costs associated with...

We estimate the influence of policy-induced price changes and of technology supply on North Carolina flue-cured tobacco yields. The decline in land rent and effective output price that accompanied a 1965 policy change from acreage allotments to poundage quotas caused a 12 percent decrease in...