SHERP

A Generalization of Modeling for Markets of Substitutive Raw Materials

Cited 0 time in webofscience Cited 0 time in scopus
Authors
Chen, John-ren
Issue Date
1993
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 6 (No. 3 1993): 267-282
Keywords
price volatility; isolative commodity model; connective model
Abstract
In this paper we generalize a commodity market model to n gross substitutes. We analyse the specification errors if some gross substitutes are neglected. We proved the following main proposition that the volatility of market price and trade volume for each of the n gross substitutes will be underspecified in a model in which at least one of the gross substitutes is not considered, and the degree of the specification error for the price volatility and the trade volume is more serious the higher the number of gross substitutes not considered in a model.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/1023
Files in This Item:
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.06(3) (Fall 1993)
  • mendeley

Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.

Browse