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AgEcon Search >
Journal of Food Distribution Research >
Volume 33, Number 2, July 2002 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/26625
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| Title: | PERSISTENCE OF PRICE-COST MARGINS IN THE U.S. FOOD AND TOBACCO MANUFACTURING INDUSTRIES: A DYNAMIC SINGLE INDEX MODEL APPROACH |
| Authors: | Cranfield, John A.L. |
| Issue Date: | 2002-07 |
| Abstract: | Persistence of price-cost margins in the U.S. food and tobacco manufacturing industries is measured while accounting for price-cost margin risk. Direct measurement of persistence and of long- and short-run price-cost margin risk is accomplished by incorporating a partial-adjustment framework into the Single Index Model. Results indicate persistence of price-cost margins. Short-run margin risk is accounted for primarily by diversifiable risk. Long-run margin risk, which depends on systematic risk alone, is generally lower than the short-run measure. Factors influencing persistence and the systematic relationship between industry margins and a market index are explored. |
| URI: | http://purl.umn.edu/26625 |
| Institution/Association: | Journal of Food Distribution Research>Volume 33, Number 02, July 2002 |
| Total Pages: | 16 |
| Language: | English |
| From Page: | 34 |
| To Page: | 49 |
| Collections: | Volume 33, Number 2, July 2002
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