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Persistence of Price-cost Margins in the U.s. Food and Tobacco Manufacturing Industries: a Dynamic Single Index Model Approach
| Content Provider | Semantic Scholar |
|---|---|
| Author | Cranfield, John A. L. |
| Copyright Year | 2002 |
| 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. |
| Starting Page | 1 |
| Ending Page | 16 |
| Page Count | 16 |
| File Format | PDF HTM / HTML |
| Volume Number | 33 |
| Alternate Webpage(s) | http://ageconsearch.umn.edu/record/26625/files/33020034.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
