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          Volume 33, Number 2, July 2002 >

Please use this identifier to cite or link to this item: http://purl.umn.edu/26625

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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