Document Type
Article
Journal/Book Title/Conference
Economics Research Institute Study Paper
Volume
19
Publisher
Utah State University Department of Economics
Publication Date
1997
Rights
Copyright for this work is held by the author. Transmission or reproduction of materials protected by copyright beyond that allowed by fair use requires the written permission of the copyright owners. Works not in the public domain cannot be commercially exploited without permission of the copyright owner. Responsibility for any use rests exclusively with the user. For more information contact the Institutional Repository Librarian at digitalcommons@usu.edu.
First Page
1
Last Page
32
Abstract
The study investigated the nature of price innovations, based on the pattern exhibited in the price series, using a random walk and a composite deterministic trend/random walk model. The random walk model failed to unfold the underlying patterns. The composite model indicated that shocks to prices of utility slaughter cows were temporary regardless of the region, while shocks to prices of steers and heifers were either temporary, persistent but stable, or persistent and explosive depending on the region and cattle class. Shocks to prices of cattle in Iowa, in particular, were temporary regardless of the cattle class.
Recommended Citation
Muwanga, Gertrude S. and Snyder, Donald L., "Temporary, Persistent Stable, or Persistent Exploxive Innovations in Cattle Price Series" (1997). Economic Research Institute Study Papers. Paper 129.
https://digitalcommons.usu.edu/eri/129