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Regime switching and oligopsony power: the case of U.S. beef processing

โœ Scribed by Xiaowei Cai; Kyle Stiegert; Stephen Koontz

Book ID
109300438
Publisher
Elsevier Science
Year
2010
Tongue
English
Weight
235 KB
Volume
42
Category
Article
ISSN
0169-5150

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The paper investigates the nature of dynamic prices and expectations in a competitive market. The approach is applied to the U.S. beef market, which exhibits cyclical patterns and signi"cant biological lags in the production process. Beef price equations are estimated under di!erent expectation regi