000173402 001__ 173402
000173402 005__ 20210819132251.0
000173402 0247_ $$2doi$$a10.22004/ag.econ.173402
000173402 037__ $$a968-2016-75863
000173402 037__ $$a968-2016-76607
000173402 041__ $$aeng
000173402 245__ $$aThe law of one price: a test based on prices for selected inputs in New Zealand agriculture
000173402 260__ $$c1994-05
000173402 269__ $$a1994-05
000173402 300__ $$a10
000173402 336__ $$aJournal Article
000173402 520__ $$aThe law of one price (LOOP) is an essential foundation of both the pure theory of trade and monetary theory.
Strictly speaking, the law relates to prices of individual commodities. However, empirical tests of LOOP have often
relied on aggregated data. In this paper, a model is derived and estimated using price data for 15 selected inputs in
New Zealand agriculture. The results offer no support for the LOOP in the short run, and the results for the long
run are mixed. It may be inappropriate, therefore, to assume that the LOOP holds generally in modelling exercises,
particularly when models are used for policy purposes.
000173402 546__ $$aEnglish
000173402 650__ $$aCrop Production/Industries
000173402 650__ $$aDemand and Price Analysis
000173402 700__ $$aDelpachitra, S. B.
000173402 700__ $$aHill, R. L. St
000173402 773__ $$q297$$o305$$tAgricultural Economics: The Journal of the International Association of Agricultural Economists$$j10$$k3$$dMay 1994
000173402 8564_ $$93d6e4680-995d-4053-84d3-95890d2c5bab$$s833332$$uhttps://ageconsearch.umn.edu/record/173402/files/agec1994v010i003a008.pdf
000173402 887__ $$ahttp://purl.umn.edu/173402
000173402 909CO $$ooai:ageconsearch.umn.edu:173402$$pGLOBAL_SET
000173402 912__ $$nSubmitted by Jennifer Nelson (nels7877@umn.edu) on 2014-06-19T17:56:05Z
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  Previous issue date: 1994-05
000173402 913__ $$aLicense granted by Jennifer Nelson (nels7877@umn.edu) on 2014-06-19T17:52:24Z (GMT):

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000173402 980__ $$a968
000173402 982__ $$gAgricultural Economics: The Journal of the International Association of Agricultural Economists>Volume 10, Issue 3, May 1994