The Australian Wool Market, 1840-1900by Alan Barnard
โ Scribed by Review by: R. F. Henderson
- Book ID
- 125030571
- Publisher
- Blackwell Publishing
- Year
- 1960
- Weight
- 133 KB
- Volume
- 26
- Category
- Article
- ISSN
- 0315-4890
- DOI
- 10.2307/138858
No coin nor oath required. For personal study only.
๐ SIMILAR VOLUMES
A theoretical model of the wool market that distinguishes between large and small buyers is developed. The model forecasts that "large" buyers with a cost advantage will increase grower prices providing there is competition from a periphery of small, relatively high cost buyers. Econometric estimate
have suggested that, if a futures market provides a forward pricing function, then it is an efficient market. In this article a simple test for whether the Australian Wool Futures market is efficient is proposed. The test is based on applying cointegration techniques to test the Law of One Price ove