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dc.contributor.authorDelpachitra, Sarath Bandula
dc.date.accessioned2010-03-29T23:14:28Z
dc.date.available2010-03-29T23:14:28Z
dc.date.issued1990
dc.identifier.urihttps://hdl.handle.net/10182/1575
dc.description.abstractThe objective of this thesis is to examine the pricing behaviour of selected commodities in the United States and New Zealand using the Law Of One Price as the basic model. The commodities studied are all farm inputs partly because of the importance of agriculture to the New Zealand economy but also because agricultural inputs tend to meet the criterion of being perfectly substitutable in international trade. The thesis consists of five chapters. Chapter 1 provides an introduction to the study. Chapters 2 and 3 review the factors affecting prices of internationally traded commodities present a survey of theoretical literature on pricing models and provide a critique of the main empirical studies. Chapter 4 provides a derivation of an appropriate empirical model based on the data used in the thesis, a report on estimation, results and a discussion of the results. The empirical work is broken into two parts. Results of estimates indicated that movements in aggregate price indices are similar between the United States and New Zealand. Initial estimation using data for individual commodities produced poor results. Respecification of the model using a variant of partial adjustment improved results markedly. Overall, the results indicate some support for the Law Of One Price in the long-run, but not in the short-run. The main reason for this result is existence of price rigidities. The nature of these rigidities is analysed.en
dc.language.isoenen
dc.publisherLincoln Universityen
dc.rights.urihttps://researcharchive.lincoln.ac.nz/page/rights
dc.subjectLaw of One Priceen
dc.subjectmarket imperfectionsen
dc.subjectcommodity arbitrageen
dc.subjectautocorrelationen
dc.subjectnormalityen
dc.subjectpartial adjustmentsen
dc.subjectprice rigiditiesen
dc.titlePricing behaviour of selected commodities in the international marketen
dc.typeThesisen
thesis.degree.grantorLincoln Universityen
thesis.degree.levelMastersen
thesis.degree.nameMaster of Commerceen
dc.subject.marsdenFields of Research::340000 Economics::340200 Applied Economics::340201 Agricultural economicsen
dc.subject.marsdenFields of Research::340000 Economics::340400 Econometrics::340401 Economic models and forecastingen
lu.thesis.supervisorLattimore, Ralph G.
lu.thesis.supervisorWard, Bert D.
lu.thesis.supervisorSt.Hill, Rod L.
lu.contributor.unitDepartment of Accounting, Economics and Financeen
dc.rights.accessRightsDigital thesis can be viewed by current staff and students of Lincoln University only. Print copy available for reading in Lincoln University Library. May be available through inter-library loan.en


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