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Producer Prices (producer + price)
Selected AbstractsAccounting for Growth in the Australian Wine Industry, 1987 to 2003THE AUSTRALIAN ECONOMIC REVIEW, Issue 2 2001Glyn Wittwer A computable general equilibrium model of the Australian economy is used to account for the dramatic growth in Australia's wine industry between 1987 and 1999, and to project grape and wine volumes and prices to 2003. Export demand growth has made a major contribution to total output growth in premium wines, and accounts for most of the increase in the producer price of premium red wine. Domestic consumer preferences have shifted, mainly towards premium red wine, but there is also some evidence of growing demand for premium white wine since the mid 1990s. From the perspective of producers, productivity growth, while being less important than growth in domestic demand, appears to have more than offset the negative effects on suppliers of wine consumer tax increases. From the domestic consumers' perspective, however, tax hikes have raised retail prices much more than productivity gains have lowered them. The high and sustained levels of profitability resulting from export demand growth have led to a massive supply response in Australia. Even so, by 2003 Australian wine output will still be less than 5 per cent of global production. [source] Price discovery in the aluminum marketTHE JOURNAL OF FUTURES MARKETS, Issue 10 2005Isabel Figuerola-Ferretti An extended version of the S. Beveridge and C. R. Nelson (1981) decomposition and a latent variable approach are used to examine how the noise content, and therefore the informativeness, of four aluminum prices that have been quoted at various times since 1970,the (now defunct) U.S. producer price, a transactions price reported in a trade journal, and the LME and Comex exchange prices. It was found that the start of aluminum futures trading in 1978 resulted in greater price transparency in the sense that the information content of transactions prices increased. LME prices quickly came to be more informative than published transactions prices. Although the initial Comex aluminum contract failed to attract liquidity and had low information content, the 1999 contract, trading currently, is as transparent as the LME contract. © 2005Wiley Periodicals, Inc. Jrl Fut Mark 25:967,988, 2005 [source] Market Liberalisation, Vertical Integration and Price Behaviour in Tanzania's Coffee AuctionDEVELOPMENT POLICY REVIEW, Issue 2 2001Anna A. Temu Whether market liberalisation can promote agricultural development in Africa depends on how well existing institutions can facilitate trade by private agents. This article assesses the performance of the Tanzania coffee marketing system after liberalisation and the emergence of private, vertically integrated exporters (VIEs). Increasing producer prices, declining marketing margins, and the continued provision of a useful auction for coffee that is delivered by traders who are not VIEs all suggest a degree of success for liberalisation. The presence of VIEs seems to have provided investment to reduce marketing costs, whilst a sufficient number of competing firms has limited non-competitive behaviour in the market for coffee that is traded at the auction by non-VIEs. [source] An overview of the Turkish dairy sectorINTERNATIONAL JOURNAL OF DAIRY TECHNOLOGY, Issue 1 2008SERTAÇ GÖNENÇ The livestock sector and dairy subsector have great importance for Turkey, in terms of both nutrition and economy. The share of the livestock sector in the total agricultural production value has varied between 25% and 30% in the last three decades. Raw milk production is characterized by small-scale farms, with an average of three heads of dairy cattle per farm. Turkey's dairy industry was established and developed by the State with the opening of the Turkish Dairy Industry Institution (TSEK) in 1963 as a state-owned enterprise (SOE). TSEK facilitated modernization of the sector, created a dairy market and played a role in stabilizing the consumer and producer prices. In 1995, a liberalization movement in the agricultural sector started in Turkey and the TSEK enterprises were privatized. After privatization, producer prices decreased between 11.51% and 18.45% and consumer prices of dairy products increased in general. Today, the dairy processing sector has a dual structure that on one hand comprises many small- and medium-sized enterprises, while on the other features seven large holding companies that hold the largest market share (CR4 71). This study aims to show that the restructuring of the agricultural SOEs in the first place resulted in undesirable impacts, and thus that the planning and implementation of the privatization of the state enterprises in the dairy sector should be taken as a strategy in the medium term, using the experiences of other developing countries. [source] Price transmission in the Spanish bovine sector: the BSE effectAGRICULTURAL ECONOMICS, Issue 1 2010Islam Hassouneh Food scare; BSE crisis; Price transmission; Regime-switching Abstract A regime-switching vector error correction model is applied to monthly price data to assess the impact of Bovine Spongiform Encephalopathy (BSE) outbreaks on price relationships and patterns of transmission among farm and retail markets for bovines in Spain. To evaluate the degree to which price transmission is affected by BSE food scares, a BSE food scare index is developed and used to determine regime switching. Results suggest that BSE scares affect beef producers and retailers differently. Consumer prices are found to be weakly exogenous and not found to react to BSE scares, while producer prices are conversely adjusted. The magnitude of the adjustment is found to depend on the magnitude of the BSE scare. [source] Price adjustment in German manufacturing: evidence from two merged surveysMANAGERIAL AND DECISION ECONOMICS, Issue 2-3 2010Harald Stahl This paper presents new evidence on the formation of producer prices. The database combines a one-time survey that was conducted in June 2004 on a sample of 1200 firms in manufacturing and time series information on price adjustment of the same firms. Twenty percent of firms set prices as time-dependent but neither Taylor nor Calvo-type price setting describes them aptly. Few firms are forward-looking. According to the one-time survey, fixed contracts and coordination failure are the main reason for postponing price adjustment. However, the hazard rates for price changes from the time series information do not support this. Copyright © 2009 John Wiley & Sons, Ltd. [source] Price adjustment in Italy: evidence from micro producer and consumer pricesMANAGERIAL AND DECISION ECONOMICS, Issue 2-3 2010Silvia Fabiani This paper investigates the behaviour of consumer and producer prices in Italy using micro data. The frequency of price changes is computed in order to obtain a quantitative measure of the unconditional degree of price rigidity at both the consumption and the production stage. On average, producer prices tend to remain unchanged for around 6 months, whereas consumer prices exhibit a longer duration, of 10 months. A comparison of the price behaviour of similar items confirms that prices are more flexible at the production stage. Prices, however, are not adjusted uniformly across sectors. The duration of producer prices is less for food and non-energy intermediate products and greater for non-food consumer and investment goods. At the consumption stage, price spells are longer for non-energy industrial goods and services, much shorter for energy products. In exploring the possible reasons for the differences, we observe that a higher share of labour in total costs is associated with lower frequency of price adjustment. Moreover, the structure and functioning of the retail sector in Italy may slow price adjustment at the consumption stage, together with other specific economic factors that affect mainly consumer price behaviour, such as menu costs and attractive pricing policies. Copyright © 2009 John Wiley & Sons, Ltd. [source] | ||||||||||