文章基本信息

标题：INTERNATIONAL WHEAT PRICE TRANSMISSION AND CAP REFORM
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作者：Thompson, Stanley R. ; Bohl, Martin T.
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：1999
期号：SUPPL
出版社：Food Distribution Research Society
摘要：The linkage between domestic and international markets can be described by theelasticity of price transmisson. The price transmission elasticity is a measure of thecomovement of prices and shows the extent to which changes in world prices are transmittedback to within-country prices. It is a measure of economic market integration. Perfect pricetransparency will be observed among markets that are fully integrated and well functioning.Government interventions that affect imports and exports, however, will exert a downwardpressure on the transmission of world prices to domestic markets.1On the other hand, tradeliberalization will contribute to greater price transmission elasticities as domestic marketsbecome better integrated into the world economy. As a result, price instability in worldmarkets will be lessened as world supply and demand functions become more elastic (Baleand Lutz, 1979; Johnson, 1998). Although the commodity trade literature emphasizes theimportance and usefulness of these elasticity estimates, little attention has been directedtoward their estimation (Bredahl et al., 1998; Zwart and Meilke, 1979; Tyers and Anderson,1992; Mundlak and Larson, 1992). Even less attention has been given to how elasticitieschange as policy reforms are implemented.