Craig, Lee and Holt, Matthew T. (2012): The Role of Mechanical Refrigeration in Spatial and Temporal Price Dynamics for Regional U.S. Egg Markets, 1880–1911.
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This paper examines the role of mechanical refrigeration in temporal and spatial price relationships for regional egg markets in the United States, 1880–1911. Notably, this period encompasses an era in which widespread adoption of mechanical refrigeration greatly impacted the ability to briefly store otherwise perishable items. This development in turn altered observed price dynamics for many perishable commodities, including fresh eggs. We use a class of time series models, time–varying autoregressions (TVARs), to document both the structural change and the corresponding impact on spatial price dynamics for U.S. regional egg price relationships during the late 19th and early 20th centuries.
|Item Type:||MPRA Paper|
|Original Title:||The Role of Mechanical Refrigeration in Spatial and Temporal Price Dynamics for Regional U.S. Egg Markets, 1880–1911|
|Keywords:||Egg prices; Half life; Law of one price; Refrigeration; Structural change; Time–varying smooth transition autoregression|
|Subjects:||Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture > Q13 - Agricultural Markets and Marketing ; Cooperatives ; Agribusiness
C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R11 - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
N - Economic History > N9 - Regional and Urban History > N91 - U.S. ; Canada: Pre-1913
|Depositing User:||Matthew T. Holt|
|Date Deposited:||19. Jun 2012 19:31|
|Last Modified:||29. Aug 2015 18:39|
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